Euro Short !!!

hello Traders,

On the scenarios presented on 23 July we reached an important resistance according the fourth scenario.

EUR/USD possible scenarios; 23rd July

EUR/USD Daily; 13rd Aug 2013

At the present time we got to the point "C" in the wave correction "X". The chart below you can see that the A-B-C correction is over and now we should see the strengthening of the dollar.

EUR/USD H4; 13rd Aug 2013

I expect that it is possible to test the levels of 1.33 - 1.3330 where I will surely buy dollars. Of course it is possible to re-attack to new heights therefore I set a stop loss at 1.3420.

The main factors that will support the dollar will reduce QE later this year. Although this is only a psychological reason. We also read a lot about a slowdown in China's economy which may also strengthen the dollar.

Number of applications for unemployment benefits in the U.S. last week rose by 5 thousand. to the level of 333 thousand. They are not weak data, on the contrary, are amazing. The weekly data we have a lot of variation and the very large decline in the previous week, the market expected a rebound to 336 thousand. (and often the adjustments are much higher return). Meanwhile, the average of four weeks, which eliminates noise amounted to 335.5 thousand. and this is the level of Unquoted from November 2007, when the labor market was just beginning to deteriorate. We are also getting closer to the levels of 300-320 thousand., Which are characterized by a strong labor market. Simultaneously with this level of scale employment applications should definitely exceeded 200 thousand. per month, which shows that the latter, weaker in this respect, the report does not indicate a slowdown in the labor market. We treat data as an additional argument for the restriction of QE in September. The market at the moment but it ignores the phenomenon - the dollar consistently losing to other currencies.

Your comments are very important for me and always welcome :)

best regards,

oscarjp

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