Monthly Thread: November 2003

[rezo_s]

EURUSD

[rezo_s]

GBPUSD, EURGBP

[rezo_s]

USDJPY, EURJPY

[rezo_s]

Swissy

[rezo_s]

Hello Everyone, hope you're all doing good.

From now on, I will be holding monthly threads instead of weeklies; I posted about it last week, but still. There will be less comments, less reco's, but I hope its ok with you all.
Last month was a bad month for me and I am sorry to make this change after loosing month, but that will not change a thing. This is market, and losses are losses - just something we all should be ready to take as part of what we do.

I wish we all to have a great trading week, month and times to come!

Best Regards,

Rezo Shmertz.

BTW, I will not make "writing on charts" a standard, it was just easier for me at the moment.

[rezo_s]

Reversal or not?

[SERGIO.M]

Hi Rezo,

I think in short term is more important 1.1550 if go down we will see 1.1450, maybe, but for me is not finish because we will see a new rally up and than if possible to reversal (They must complete a wave 5 Weekly and Daily).

1) Now the situation is difference they have a big negative commercial balance;
2) S&P maybe next week we will see a max for this year and we will see a correction.
3) Interest rate short term will be at this level for more time, They must be consolidate the economy.


this is only my opinion we will see (for now I go long with a tight stop).

[eternalfuture]

Rezo + Sergio,

After closing the week and the month in a 'bad' shape, euro seems to be bound for more losses against usd.

Rezo, I've mentioned about the similarity of the double top at 1.1932 with the latest tops at 1.1860 and 1.1857 for a few times. Now, after looking at the weekly chart, i'd say the odds are now stacked AGAINST euro. Perhaps, just like what you said, 1.1545 won't pose too much problem for euro bears anymore.

I've got even 1.1020 as my max objective of this fallout (76.4% fibo retracement from 1.0760-1.1860). But... let's not get carried away. For a few days ahead, especially today, we'll see how the bulls still have commitments in taking euro back upwards.

Combined with weakness against gbp, it looks too heavy to go up.

However, all is not lost, for the breakout point at 1.1545 still intact.

We'll see how things unfolds for euro.

Cheers!