Thursday, 22 January 2015

EURUSD on historical Median Line

1. 1975 .7300
2. 1979 1.15
3. 1985 .5600
These are the big pivots for the EURUSD going back to when it was the ECU ( European Currency Unit) and calculated using the DM + others basket of currencies. Indeed I cannot plot this data on any of my platforms and have to use hand drawn charts such as the one shown above (courtesy of CRB giant wall charts) We are now bang on this LMLP plus have hit the daily PF seen below plus yet another important fork seen below. We either gap/zoom dramatically lower or will find support here. We await todays Draghi announcement with baited breath!! Odds are against support here. Various studies shown below with all historical pitchforks ( Andrews and FNL's and Schiff and Mod Schiff  plus of course all reaction lines associated to these forks)

 The thick grey lines close to the dark blue represent the location of the giant PF starting in 1975 as per the pivots at the top of this post. Anyone who follows this site will also understand that the location of any line changes its angle and location as the time scale is decreased.
EURUSD SUPPORT LIES AT THE RANGE BETWEEN THE TWO THICK MEDIAN LINES: 1.1200 to a low of 1.1100.......... failing this ( and thus a small bounce/rally) we are looking at .8900  to .9200  viz a vix jan 2016 and the velocity!!  under parity at the massive centre line of the down sloping Andrews PitchForks seen below

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