EURUSD Technical Update 4/2/2012 | Forex Factory

  • EURUSD Technical Update 4/2/2012

    From forex-fx-4x.com

    EURUSD is caught in a 2 cent range around 1.3000 to 1.3200. Range high resistance comes in the form of recent price structure and the 38.2% Fibonacci retrace of the January / October decline. These highs have held during the week as traders did not commit to a directional bias in the face of ongoing uncertainty around the fundamentals. Support was seen just above the 1.3000 psychological round number on the 2/2/2012. A break below this area with high momentum could potentially trigger stops and see high momentum. A failure to sustain below the area could see a resumption of the recent trend higher which looks to have ... (full story)

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seanpark
Feb 4, 2012 11:20am
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Anything is possible....
for the last , let me state my point. the Friday big move hit 38.2 of retrace which followed 61.8 retrace of 4hr graph. thus, only thing left go hit target of 4hrs . of course it will hit 1hr target meanwhile( my 2 cent opinion )
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seanpark
Feb 4, 2012 10:13am
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1.33511 would be the target for up side .
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seanpark
Feb 4, 2012 10:23am
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if this retrace pass the 38.2, isn't the next would be 61.8 ( 1.35819)? at least 1.33571 maxium allowlance 38.2 retrace ?
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jonahky7
Feb 4, 2012 10:42am
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YES - I predict 1.6!!!! O come on, fed up with all these technical at the moment, I simply do not trust technical as it's too noisy. Trade facts, fakes then only technical.

Technical says maybe up, maybe down, nothing more. New traders becareful what you read.

All I can see is this, last week I have 2 good reasons for Euro breaking above 1.32 - QE3 and seductress Greece with their big fat hairy butt. Now QE3 is history, will I bet on long???? In other words will I trust Greece to get their deal done??? TO be honest, nay!!!! Even if they get their fund, they will soon come back for more and then default.

Will China come to Euro help, not so soon until Euro depreciates it's value further. So my sentiment is - short term long (very very very extremely short period, possibly gone now unless Greece sort out a deal this weekend, we've been there for fking 2 years), then short down before I start longing again later in the year.

A calm Janauary is a perfect storm waiting to come.
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Ch1l1MaN
Feb 4, 2012 12:41pm
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Have a review on the experts' view on the euro's future. It'll give u all a better picture of it. Cheers
http://www.independent.co.uk/news/world/europe/the-experts-view-on-the-euros-future-it-doesnt-have-one-6298180.html
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