Comment by Peter jcp on December 5, 2012 at 8:58am

Very slow so far from Opens - 3126 high fall to 3106 - 20 pips in a normally very busy hour - seems strange?

Comment by Peter jcp on December 5, 2012 at 9:54am

The EU is still in short term sell mode from top of 3126. Hour change in 5 mins - so that might change again as we go under 3100 ?

Comment by Peter jcp on December 5, 2012 at 10:03am

EU ( see this chart) as been dropping since Open high of 3126 and now under 3100 with supports at 3090 - 80 - 74 areas. Hour change so might rest again soon 

Comment by Sundaram on December 5, 2012 at 12:07pm

Wave 5 seems to have ended @ 1.31256, so expecting corrective Wave a, for at least 38.2% of W5 to set a low at 3031. :-D

Comment by Peter jcp on December 5, 2012 at 12:17pm

OK - thanks Sun will mark that area up - In the next half an hour we will start to have news out on the Pound withe the Autumn statement. I thought EU might rest at the 3050 -60 area - before a bounce and another go down - Have a good day ;-))

Comment by Sundaram on December 5, 2012 at 12:33pm

Price have halted @ 23.8% ~24% reduction of W5 @ 1.30664, next target could be 38.2%.

Comment by Peter jcp on December 5, 2012 at 12:35pm

There as now been an 80+ pip drop on the EU so far today. With the lower volumes we are not seeing so many 120 -150 pip movements on this pair - but - don't think it still cannot fall below 3050 area - as anything in this market is possible - and normally it happens when least expected;-)

Comment by Sundaram on December 5, 2012 at 12:43pm

Scalp buy up 85 or 93 :-D then sells again :)

Comment by Jim Mathis on December 5, 2012 at 1:04pm

thanks guys nice stuff

Comment by Sundaram on December 5, 2012 at 1:20pm

Staying focused on the down trend, 1.3031 next, if fails to hold see you at 1.30022. :-D

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