Monday October 2, 2006 at 13:30 ET
FXAsia, you were correct in the following statement you made on Friday September 29:
" Wave 5???? <hr style="color: rgb(209, 209, 225);" size="1">Would someone like to confirm if todays low of 1.2637 is the completion of wave 5??? For a while I thought it was just completing wave B of a abc retracement, but after further data following todays move it looks as if that is a completion of wave 5....so I entered into a buy at 1.2650 to ride the abc retracement, with a target of 1.2793 for its completion. Thanks!!!![](https://resources.faireconomy.media/images/emojis/64/1f914.png?v=15.1)
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According to our system, the most likely reversal point for this corrective wave is about 1.2774, which would be a good re-entry point to short EUR/USD with a target of about 1.2575. The current price of EUR/USD is 1.2750
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Previous trade signal and predictions:
EUR/USD prediction as of Wednesday September 27 at 3:00 ET
We stated at 11:00 ET yesterday morning something that turned out to be both "precise and correct":
"(By the way, I believe that EUR/USD just hit the bottom of its current wave at 1.2661, and is due for a fairly large "abc" corrective wave. I studied the 30 year chart, the ten year chart, the 40 day chart, the 30 day chart, the five day chart, the one day chart, and the tick chart to arrive at that conclusion, which I believe is both precise and correct.)"
We earlier predicted a reversal into an upwards "abc" bounce wave "at 1.2677, 1.2660, or 1.2630". The reversal point was, in fact, exactly 1.2661.
We believe that EUR/USD has now completed the "ab" part of the upwards corrective wave, and is due now to ascend to between 1.2700 and 1.2747, after which it will reverse direction and proceed down to about 1.2600 or lower.
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Possible exit targets for short EUR/USD trade <hr style="color: rgb(209, 209, 225);" size="1"> <!-- / icon and title --> <!-- message --> Tuesday September 26 at 6:30 ET
Depending on the strength of the EUR/USD downtrend, and the results of the data releases at 10:00 ET this morning, EUR/USD could do a major bounce upwards starting at 1.2677, 1.2660, or 1.2630. We advise exiting at one of these places and waiting to enter another short trade after a sizeable "abc" corrective wave pattern is finished.
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Friday September 22 at 4:30 ET
Trade Signal #176B Sell EUR/USD at 1.2830
Stop is 1.2851
Target #1 is 1.2600
Risk is 23 pips
Reward is 228 pips
Reward : Risk Ratio is 9.9 to 1
For research purposes only.
FXAsia, you were correct in the following statement you made on Friday September 29:
" Wave 5???? <hr style="color: rgb(209, 209, 225);" size="1">Would someone like to confirm if todays low of 1.2637 is the completion of wave 5??? For a while I thought it was just completing wave B of a abc retracement, but after further data following todays move it looks as if that is a completion of wave 5....so I entered into a buy at 1.2650 to ride the abc retracement, with a target of 1.2793 for its completion. Thanks!!!
![](https://resources.faireconomy.media/images/emojis/64/1f914.png?v=15.1)
_________________________________________
According to our system, the most likely reversal point for this corrective wave is about 1.2774, which would be a good re-entry point to short EUR/USD with a target of about 1.2575. The current price of EUR/USD is 1.2750
______________________________________________________
Previous trade signal and predictions:
EUR/USD prediction as of Wednesday September 27 at 3:00 ET
We stated at 11:00 ET yesterday morning something that turned out to be both "precise and correct":
"(By the way, I believe that EUR/USD just hit the bottom of its current wave at 1.2661, and is due for a fairly large "abc" corrective wave. I studied the 30 year chart, the ten year chart, the 40 day chart, the 30 day chart, the five day chart, the one day chart, and the tick chart to arrive at that conclusion, which I believe is both precise and correct.)"
We earlier predicted a reversal into an upwards "abc" bounce wave "at 1.2677, 1.2660, or 1.2630". The reversal point was, in fact, exactly 1.2661.
We believe that EUR/USD has now completed the "ab" part of the upwards corrective wave, and is due now to ascend to between 1.2700 and 1.2747, after which it will reverse direction and proceed down to about 1.2600 or lower.
__________________________________________________ ___
Possible exit targets for short EUR/USD trade <hr style="color: rgb(209, 209, 225);" size="1"> <!-- / icon and title --> <!-- message --> Tuesday September 26 at 6:30 ET
Depending on the strength of the EUR/USD downtrend, and the results of the data releases at 10:00 ET this morning, EUR/USD could do a major bounce upwards starting at 1.2677, 1.2660, or 1.2630. We advise exiting at one of these places and waiting to enter another short trade after a sizeable "abc" corrective wave pattern is finished.
_________________________________________________ _______
Friday September 22 at 4:30 ET
Trade Signal #176B Sell EUR/USD at 1.2830
Stop is 1.2851
Target #1 is 1.2600
Risk is 23 pips
Reward is 228 pips
Reward : Risk Ratio is 9.9 to 1
For research purposes only.