Cashmechanics - Weekly Insight includes Price & Time Projections

At the time of last week's analysis the EUR/USD was trading at 1.26754. Our bias called for the EUR/USD to continue its decline towards the target zone of 1.25070 - 1.23897.
Bookmark and Share
Brooklyn, NY (prHWY.com) January 24, 2012 - REVIEW

At the time of last week's analysis the EUR/USD was trading at 1.26754. Our bias called for the EUR/USD to continue its decline towards the target zone of 1.25070 - 1.23897. Our exit strategy called for a rally that would retest the upper boundary of target zone 1.26630 - 1.27830. We anticipated a rally that closed, retested and stayed above that target zone would open the way for a rally towards the target zone of 1.29370 - 1.29770 and potentially target zone 1.31363 - 1.32366. The EUR/USD declined to a low of 1.26254 on 1/16/12 and on 1/20/12 rallied to a high of 1.29854. The EUR/USD closed the week at 1.29298.

In our timing analysis we anticipated a minor swing point would occur between 1/16/12 - 1/19/12.

ANALYSIS

Our long term price analysis still remains bullish as the waves appear to be unfolding in a larger degree 5-wave corrective pattern. We're anticipating a long term rally that will trade towards and potentially beyond the bullish target zone of 1.57770 - 1.60380. Our bias calls for the EUR/USD to decline & retest the bearish target zones of 1.28490 - 1.28070 and potentially 1.27830 - 1.26630. We will then look for the EUR/USD to continue its rally up to the target zone of 1.30470 - 1.30770. We anticipate a close & retest that stays above this zone will open the way up to the bullish target zone of 1.31363 - 1.32366. Our exit strategy calls for a larger decline towards our bearish target zones of 1.25070 - 1.23897 and 1.23170 - 1.22817.

Our long term momentum indicators signal the EUR/USD's bearish momentum may have come to an end. The lower timeframe's momentum indicators are mixed which could mean that there's potentially one more decline before the anticipated larger degree rally. We will be looking for divergence, which is sometimes an early warning, as a signal and confirmation of the start of a larger degree rally.

TIMING

Our long term timing projections allow us to anticipate a potential significant swing point may occur between 3/4/12 & 3/18/12. Our short term timing projections allow us to anticipate a minor swing point may occur between 1/24/12 - 1/26/12 and also between 1/31/12 - 2/1/12. Our timing projections allow us to anticipate potential turning points in the marketplace. With our timing projections there's a factor of +/- 2.

Come join us during our daily chat room sessions as well as our weekly webinar series and observe the methodologies and strategies we use that allow us to make these types of projections. Now FREE all the time. Register at http://www.cashmechanics.com/chat-room-pay.html and receive access and the Chat Room discussion schedule.

Follow us on Twitter and Facebook
Best regards,

Pat Arcadipane
Chief Executive Manager
Cashmechanics.com

├é┬ęCopyright 2010-2011 Cashmechanics.com, LLC, 80th Street, Brooklyn, NY 11209. All rights reserved. All product names contained herein are the trademarks of their respective holders.

###

Tag Words: usd, trading, cashmechanics, forex, euro
Categories: Accounting

Press Release Contact
Cashmechanics.com, LLC,
80th Street
Brooklyn, NY 11209
Cashmechanics
(646) 704-0222

Link To This Press Release:

URL HTML Code
Create Press Release
Press Release Options
About This Press Release
If you have any questions about this press release, please contact the listed publisher. Please do not contact prHWY as we cannot help you with your inquiry.