FOREX TRADERS

[Worn_Buffet]

take the money & run...post & run....sure....just keep teasin us ;)~

Here's 1 "Guru's" (no, not I....I dont profess 2 b a Guru....not even one on the Inet) eur/jpy commentary...& what about the belief that this pair has been a real good dow barometer as of late...interesting.

It appears that this component is just about bottomed out or may bottom out in one bar or maybe two bars and begin tossing prices higher to galvanize its reversal. But see that your diagonal S line, that holds prices as supports in the immediate low levels of 116.05/10s stays in tact to prevent prices from further skidding --- as violation could reset the stage for a test of our next overhang (support) seen at 113.70s for a possible “double bottom.” --- but if it cracks open as well, 111.50s/60s next supports comes into view for another round of bearish onslaught, but this time, with a high percentage of a good solid bounce (correction or buoyancy) of around 500 or 800 to 900 plus pips
As mentioned above, the bears can begin getting pinned any time and the expected firmness or buoyancy could last for 2.5 or 3.5 days and could chew up 500 plus points (magnitude) on the upside, but if favorable fundamental factor(s) hits the wire, could add wind to the sail with a total time run of approximately 7.0 to 8.5 days to gobble up 900 plus pips or as much as 1200 to 1300 pips. But again, keep tab that the supports aforementioned are not managed considering that the monthly cycle (long term component) is still on a nose dive.

Hourly 4 Chart Outlook:

This short duration component next to the Daily looks unstable at this time (uncommitted on both sides). The nearby and vital supports emerging at 114.90s could get tested and if breached, 111.50/60/70 looks compelling for some visitation, unless rescued by some bullish reversal soon. Your Hourly 1 is likewise not looking committed on the upside and is tipping towards south at this time. But there is a gap on the upper side towards the approach of 118.10/15 and this may become a magnet for some price climb or buoyancy in the interim. Unless the Daily cycle comes to a halt on the downswing, the momentum from the Weekly component may continue to arrest further bullish counter play. There should be some visible trend after the next few hours. Let the market play it out as we are still expecting the bulls from Daily component to get their act together.



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