Zen Forexification

USD/JPY :: 04.03.07 :: 23:01 EST

goldivx@yahoo.com — Tue, 03 Apr 2007 08:59:45 GMT

Breakout on a flag formation with no news to stand in the way.

EUR/USD :: 03.29.07 :: 06:46 EST

goldivx@yahoo.com — Wed, 28 Mar 2007 19:46:06 GMT

Ahead of US data...

EUR / USD :: 03.27.07 :: 16:20

goldivx@yahoo.com — Tue, 27 Mar 2007 01:23:33 GMT

EUR / USD

+ 14 pips

Enter: 17:15 on 03.26.07
Exit: 08:10 on 03.27.07

Went long the pair at 1.3332 with a 3 pip spread putting me at 1.3335 for profit.

Was looking for some movement in the Asian session that just didn't happen. The price moved in a norrow channel with a slight downward momentum. Price reached a low of 1.3321 several times.

I had my stop at 1.3315.

Finally, got some upward movement in the London session. Wasn't much but it got me in profit. I should've waited till the US news to get that 10:00 jump but was just too tired.

Not many fundamentals for the 28th. UK will be giving their "Q4 GDP" at 04:30. And the US will be giving "February Durable Goods Orders" at 08:30.

Currently the pair has fizzled around 1.3350.

Fundamentals are still firm on the Euro and waning on the Dollar. Charts still show we are in an upward trend.

We could see some good movement on 03.29 as there are 5 US fundamentals coming out. So look for that at 08:30 on Thursday.

[The authors, publishers, editors, advertisers, and any individual, agency, force, or thing that wishes or requires to be included in this disclaimer refuse to be held responsible for any effect or lack thereof occurring to any entity, legal, mortal, or otherwise in any time frame, dimension, or state of consciousness as a result of any action or inaction contemplated, planned, undertaken, or performed as a result of reading, viewing, or otherwise perceiving the information contained in this document, any fraction thereof, or any work containing such.]

EUR / USD - US Feb Home Sales 10:00 est

goldivx@yahoo.com — Mon, 26 Mar 2007 11:32:59 GMT

EUR/USD

+ 41 pips

[The text contained in this post is meant only as a record and should never be taken as trading advice. This material is not financial advice.]

Went long in EUR/USD at 09:46 for 1.3286 with a 3 pip spread putting me at 1.3289 for profit.

Taking a risk on the US Feb Home Sales forcing a run on the dollar, I was ready with my C.A.R. finger just in case. But I seen a pre-news uptick from the 1.3259 mark. Immediate resistance around 1.3280. Got in shortly there after.

News hit and the market gapped the 1.3300 level.

Reached a high of 1.3345 before settling back around the 1.3330 level.

Fundamentals show a weakening of the dollar in the near future. Talk of problems with the US subprime will certainly push the euro higher. Euro fundamentals seem firm.

The weekly chart shows a beautiful Elliot Wave Formation. Depending on interpretation it looks like we are on a #5 which could take us above all-time highs. It should be noted however, the wave doesn't appear to have quite the steam it needs.

Looking at the 5 minute chart we can see the market reversed to hit the 23.6% Fibonacci line.

Sydney has been open for an hour and Tokyo will open in less than 2 hours. Both markets were closed for the 10:00 EST US Home Sales news. There is a chance of another decent move up as these markets digest the news.

EUR/USD :: Weekly Chart Elliott Wave

goldivx@yahoo.com — Sun, 25 Mar 2007 08:01:41 GMT

Here is a weekly chart of EUR/USD showing a beautiful Elliott Wave formation.

Looks like we are in a #5 wave which is motive (going up).

It's possible but doesn't seem probable that the #5 peak will break the all-time high set on the last week of 2004 for 1.3665. That's really only about a 300 pips above current levels so who knows.

Check here for a quick Elliott refresher:
en.wikipedia.org/wiki/Elliott_wave

[The authors, publishers, editors, advertisers, and any individual, agency, force, or thing that wishes or requires to be included in this disclaimer refuse to be held responsible for any effect or lack thereof occurring to any entity, legal, mortal, or otherwise in any time frame, dimension, or state of consciousness as a result of any action or inaction contemplated, planned, undertaken, or performed as a result of reading, viewing, or otherwise perceiving the information contained in this document, any fraction thereof, or any work containing such.]