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  • EUR/USD Forecast: Bears Still in Charge Ahead of FOMC Statement

    From fxtimes.com

    The 1H EUR/USD Chart shows the market remaining bearish. 1) Price action tried but failed to break above the 200 simple moving average. This price action is also setting up a double top. 2) The RSI remains below 60, showing maintenance of bearish momentum in the short-term. Furthermore, the market is attempting to break below 1.3650, which is the middle of the range. A break suggests we are heading towards this week’s low at 1.3590. If the market breaks below this low today, we can categorize the consolidation as an expanded flat and look for bearish continuation. The swing projection seen in the 4H chart to 1.3250 ... (full story)

I am trying my best to push it below 1.3650 but EUR is very stubborn...I hope it gets there soon and opens up the worm hole downwards...
There is always a price for promises you don't keep!
the euro is about to grow wing that will make it to grow soon.
  •  Guest
  • | IP XXX.XXX.2.75
Look like EUR is holding on at 1.3700.
Quoting kussy
the euro is about to grow wing that will make it to grow soon.
Only if the Fed increases its balance sheets or drops the rate further. Otherwise, you will see a short term USD rally and EUR tailspin.
Those who say it cannot be done should not interrupt those who are doing it
  •  Guest
  • | IP XXX.XXX.109.9
Quoting DragonFire
I am trying my best to push it below 1.3650 but EUR is very stubborn...I hope it gets there soon and opens up the worm hole downwards...
Bravo, Keep Trying
I agree wuth piptrapper a USD rally to 1.39 , 1.3950 hit the fib 50% and come tumbling back down to 1.30... Heres hoping!
  •  Guest
  • | IP XXX.XXX.167.33
eur/usd wit 1.60
  •  Guest
  • | IP XX.XXX.150.7
:-)) I need USD/CAD 0.995 or 0.990. What is EUR?
The last fight of a dying man; what is going on, EUR is charging ahead? Has EU discovered a planet accessible to mankind made of gold and diamonds to pay all debts owed by the PIIGS?
EUR/USD tramped on me at 1.3729; bring it own, babe; I set ambush at 1.3759 through 1.4269…
There is always a price for promises you don't keep!
coming under a bit of resistance at 1.3750 might go short close to that to 1.3630 seeing as its overbought on the 30min
Was wondering if anyone can shed some light, for a newbie like me, on why eur is rallying higher now before the FOMC statement?
  •  Guest
  • | IP XX.XXX.95.166
At 19.20 CET, EUR/USD = 1.3765. I don't understand, in the last few weeks (months) people keep on cursing "EUR is doomed...bla3x". But in fact EUR/USD is still strong.
Italian banks just downgraded by s&p and yet the bulls maintain momentum.. Somethings not right.. Could be setting up for a big fall?
  •  Guest
  • | IP XXX.XXX.125.10
The big boys are charging up the price so they can get in at "their" price and then the selling starts. The price will go where it needs to go via fundamentals now focus on the charts and get in at a good price. Market games don't get fooled by the big movers.
Quoting RodMca
Italian banks just downgraded by s&p and yet the bulls maintain momentum.. Somethings not right.. Could be setting up for a big fall?
RodMca,

Fed might be coming out with a dollar killing policy; however it is very ironic AUD and CAD are falling against USD, so a setup must be looked into; who is feeding the EUR frenzy? May be Greece's default is tonight...
There is always a price for promises you don't keep!
Quoting DragonFire
The last fight of a dying man; what is going on, EUR is charging ahead? Has EU discovered a planet accessible to mankind made of gold and diamonds to pay all debts owed by the PIIGS?
EUR/USD tramped on me at 1.3729; bring it own, babe; I set ambush at 1.3759 through 1.4269…
Quoting RodMca
coming under a bit of resistance at 1.3750 might go short close to that to 1.3630 seeing as its overbought on the 30min
Quoting jonahky7
Was wondering if anyone can shed some light, for a newbie like me, on why eur is rallying higher now before the FOMC statement?
Quoting Guest
At 19.20 CET, EUR/USD = 1.3765. I don't understand, in the last few weeks (months) people keep on cursing "EUR is doomed...bla3x". But in fact EUR/USD is still strong.

Nobody wants to be holding equities or USD right now. They cannot buy CHF or JPY due to intervention. So what's left? Yep, Gold and Euro. Besides, the Euro bears are waiting for the 1.40 handle before shorting.
Let's see what happens after the Fed statement.
Those who say it cannot be done should not interrupt those who are doing it
  •  Guest
  • | IP XX.XX.197.74
long Eur
What a shakeout...Still Bears and Bulls in EUR/USD are in the battleground between 1.3650 and 1.37...Below 1.3650, there is a slight victory for the bears....and below 1.3590-1.36, I think there can be a parade. - Fan
Quoting PipTrapper
So what's left? Yep, Gold and Euro. Besides, the Euro bears are waiting for the 1.40 handle before shorting.
So much for pundits ??
Quoting egadsforex
So much for pundits ??
Nice try eqadsforex.

Everybody here is intelligent enough to realize that you snipped out a portion of my comment to purposely take it out of context.

Furthermore, that comment only applied before the fed statement was released.

If you want to quote what I say, quote the whole thing and then try to prove me wrong.

Just to help you so you don't have to scroll up, here is my comment in its entirety.

"Nobody wants to be holding equities or USD right now. They cannot buy CHF or JPY due to intervention. So what's left? Yep, Gold and Euro. Besides, the Euro bears are waiting for the 1.40 handle before shorting.
Let's see what happens after the Fed statement."

Now if you don't have something constructive to contribute to this site, bugger off.

I've tried to be nice about this but it obviously does not work with you.

Oh, by the way, feel free to spew out more drivel at your heart's content but you will not get any more responses from me. you're just not worth my time.
Those who say it cannot be done should not interrupt those who are doing it
Quoting PipTrapper
Oh, by the way, feel free to spew out more drivel at your heart's content but you will not get any more responses from me. you're just not worth my time.
That's pretty much what I thought you would say. People REALLY CAN be manipulated into giving a presupposed response !!!

Helluva deal !!
Eqadsforex,

Why don't you say something of value? Piptrapper & Jolly are both contributing in a real way to this blog site. You can disagree or agree with them, but come up with something meaningful to say.

What you are currently sharing is just static.

There is a topic here -- is the Euro going up or down. Why don't you express your opinion. What do you think? Is the Euro going up or down and in what time frame? And why?
Quoting AaronWard
Eqadsforex,

Why don't you say something of value? Piptrapper & Jolly are both contributing in a real way to this blog site. You can disagree or agree with them, but come up with something meaningful to say.

What you are currently sharing is just static.

There is a topic here -- is the Euro going up or down. Why don't you express your opinion. What do you think? Is the Euro going up or down and in what time frame? And why?
OK... here's something of value. "Believe those who are seeking the truth. Doubt those who say they've found it".

And your post is my point exactly. I could predict that the E/U will go to 1.23 by 1/31/12. What difference would that make even if the "prediction" were true/

It isn't going to go "straight to hell" and while I was busy selling on the weekly chart, someone else is busy buying on the 1H chart. So it's all dependent on personal preference and what YOU SEE IN THE MOMENT.

Here's another fact... "pundits" in financial circles are as much wrong as right. They gain fame with "the big one" prediction and the media picks up on it and they are then paid huge sums for "predictions". However, when they're wrong there isn't much of a downside.

In short... is the EUR/USD going up or down ?

YES.... IT IS. And I'll BET that you CANNOT deny that statement.
As a matter of fact, it's now up a tad on the 5M chart and down on the 4H chart.

Any questions ?
To put it another way, Governor Arnold S. of California predicted he would be married to the bitch forever.
In between times though, he could grab some extra trades from the Maid.
All in all, he came out OK. He grabbed some goodies but his long range prediction fell short and there he only got screwed.
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  • Posted: Sep 21, 2011 10:19am
  • Submitted by:
     fxtimes
    Category: Technical Analysis
    Comments: 24  /  Views: 3,919