Guest guest Posted May 9, 2003 Report Share Posted May 9, 2003 Respected Members, As per technical charts a heavy crash in the US Dollar with respect to other currencies is on the card. A very dangerous Head and shoulder pattern is completing it's second shoulder very slowly in the dollar chart. The first shoulder started to get formed after 99-2000 dull session. On the daily charts first correction for first shoulder got checked at 116 yen/dollar and third wave started. The powerful C or third wave took the dollar at 135 in February 2002. After that dollar again got corrected up to 116 in July 2002,thus the head got completed. After that in 5th wave dollar went up to 125 in October and December 2002 and completed the top of second shoulder. As per fan line analysis dollar has to complete the pattern around march end. But it doesn't. Since then a heavy crash is due on the charts. Now again it tested 116.This time the pattern is expected to be complete ,as all other indicators are also showing extreme weakness. Now the 116 support line became very much crucial. Below this level dollar may take support at 110.Technicaly this fall in the dollar will run for 6 months and within 1 month this heavy crash is expected. But in practical, a very very bad news is needed for this. Now the dollar is around " after9/11 " rate of 116- 117.Means the worse news than 9/11 is needed for this. Is there any possibility of this type of news in near future in America's fate?? Thanks and regards Madhusoodan Shanbhag Quote Link to comment Share on other sites More sharing options...
Guest guest Posted May 9, 2003 Report Share Posted May 9, 2003 Hello, If you want any feed back on this mail from members interested in the topic, it would perhaps be necessary to give the chart of the US dollar. Best regards Margarita -----Original Message----- Madhusoodan Shanbhag [ymadhusoodan] Friday, May 09, 2003 2:20 PM To: Subject: Possible fall in US Dollar. Respected Members, As per technical charts a heavy crash in the US Dollar with respect to other currencies is on the card. A very dangerous Head and shoulder pattern is completing it's second shoulder very slowly in the dollar chart. The first shoulder started to get formed after 99-2000 dull session. On the daily charts first correction for first shoulder got checked at 116 yen/dollar and third wave started. The powerful C or third wave took the dollar at 135 in February 2002. After that dollar again got corrected up to 116 in July 2002,thus the head got completed. After that in 5th wave dollar went up to 125 in October and December 2002 and completed the top of second shoulder. As per fan line analysis dollar has to complete the pattern around march end. But it doesn't. Since then a heavy crash is due on the charts. Now again it tested 116.This time the pattern is expected to be complete ,as all other indicators are also showing extreme weakness. Now the 116 support line became very much crucial. Below this level dollar may take support at 110.Technicaly this fall in the dollar will run for 6 months and within 1 month this heavy crash is expected. But in practical, a very very bad news is needed for this. Now the dollar is around " after9/11 " rate of 116- 117.Means the worse news than 9/11 is needed for this. Is there any possibility of this type of news in near future in America's fate?? Thanks and regards Madhusoodan Shanbhag Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.