EUR/USD &#x2013; Another Session, Another Low

hmm...seems like they want more lows...

Dr.Zain

Aug 10, 2012 9:46am

Quoting Loadedgun

Disliked

Taken out my comments on gold not to distract from the main issue here. Sorry for that.

Ignored

Hi what is the main factor Gold is heading North?

Dr.Zain

Aug 10, 2012 10:03am

Hi again Loadedgun would you please describe about 4hr candle reading in brief and thanx

Juan Grande

Aug 16, 2012 6:59am

Quoting Berna

Disliked

i see some of us don't read the analysis with their eyes

Ignored

This reminds me of one time I was on an airplane. I had picked up the USA Today that the hotel laid at my door on the way out, and carried it with me to read on the plane. But then I fell fast asleep as soon as the plane pressurized. I woke up with the person next to me tapping my arm. I look up from dreamland, and the guy asks, "Pardon me, are you reading that paper you are sitting on?" I replied, "Now that would be good hindsight."

pippiphooray

Aug 10, 2012 7:41am

I LOVE a good value...To me, the EUR/USD has yet to provide the signal to go all in. I have taken my shots, albiet small, here and there on the long side. Obviously, I made more flipping my positions, and going short, when the long was not working. No value shopping...not yet...#waitingforrisk

moaf

Aug 10, 2012 9:50am

Friday, SL hunting ...
Monday, new shorts ...

dinksy

Aug 10, 2012 9:59am

lol....just got 98 pips on gbp/usd...i'm done for today..happy weekend peeps

Hong Long

Aug 10, 2012 7:11am

bearish eurusd. check the wedge on the 5 min graph. a move under 1.2260 support will create a fast move down. SL above the wedge.

Aug 10, 2012 7:06am

looks like 4h 100sma is the support factor for now, I like the looks of bearish momentum on hourly though, friday free fall?

Aug 10, 2012 7:44am

i feel like it is a bit difficult/late to attend the bears now, unless you are adding positions. though i would love to see some retracement to let bears get in/add

Aug 10, 2012 8:04am

haters will hate huh

Aug 10, 2012 9:47am

i feel like jumping in front of the train with a small sell

Aug 10, 2012 9:48am

i see some of us don't read the analysis with their eyes

Aug 10, 2012 10:00am

lets see if 200sma holds the eurusd, it is at the same point on 4H and hourly chart.

Aug 10, 2012 10:30am

Quoting drtorque

Disliked

berna - do it!

Ignored

i already did and locked in some profit, thanks for the support

Aug 10, 2012 8:07am — Edited

Quoting fxtimes

Disliked

The momentum sure does look bearish on EUR pairs. EUR/JPY made a new low already, as the JPY swings back from near-term weakness to strength. - Fan

Ignored

Hi Fan - you are absolutely right about EUR momentum from what I can see. Have not slept much just watching how my rig works across the different sessions. But during the asia session most risk turned down severely (the case of AUD is of course understandable). I entered the Euro down with a target of 1.21870, and GBP down target 1.55213. From what I can see per my rig that's the way to go. Euro is intraday, I have a sense from the market equations I am reading off my rig that the daily is or will soon start encountering layered resistance or a stack of buy orders. Indeed, I think we should see some upside toward or at the end of the trade day - but that is in a sense serious speculation.

I see, I tell, we watch.

Aug 10, 2012 8:26am

You know - what shows up as bullish divergence on your 1hr chart shows up as a bullish function and graphic on my rig - with a limit (or low) at about 1.22350 and suggesting a rebound from that level. But the 4 hrs shows more leeway with clear support visuals @1.1285 (and since that is my trade frame I base my targets on H4 except where like in Gold the daily shows a freeway for a good swing trade). Anyhow my interpretation is that H4 will probably be met with more delay than would be usual if the two charts were in perfect harmony. On the other hand since the rig recalculates the market equation every zero bar one only needs to watch the updates to tell whether the divergence you note will come into play early. But it is a factor to note indeed.

Aug 10, 2012 8:31am

I think I will keep holding short, maybe scale out a little later today if it keeps falling toward 1.22. Then if it slows down, I want to consider getting in the long side near 1.22. But will it reach there? Will it clear before rally? I am still a bit bullish on the pair for August, but we'll see if the market will agree.

- Fan

Aug 10, 2012 8:44am

Quoting fxtimes

Disliked

I think I will keep holding short, maybe scale out a little later today if it keeps falling toward 1.22. Then if it slows down, I want to consider getting in the long side near 1.22. But will it reach there? Will it clear before rally? I am still a bit bullish on the pair for August, but we'll see if the market will agree.

- Fan

Ignored

Same sentiments same fear - but I am greedy so I will bear the ride with a trailing stop since I am already deep in profit anyways. I agree about August same plan.

Aug 10, 2012 8:58am

Euro has hit - 1hr TD projection and is moving off that low but still in a negatively deviated envelope - scared from that spike in gold. But the 4 hrs still looks like a gentleman's promise (if there was ever one in the forex).

Aug 10, 2012 9:33am

Wow there goes your divergence reaction on the 1 hr.

PS: May be spurious correlation but that spike in gold just before the spike in the EUR 1hr might be indicative of market sentiments/positioning. I will still stick with my Eur short per 4 hr readings until I "see" otherwise.

Aug 10, 2012 9:45am

Quoting drtorque

Disliked

whatever this clown fanfan says, always the opposite happens. he doesnt know how to trade and only plays demo.

Ignored

I think you are wrong here - if you read his post correctly he has mapped out the moves pretty much like he wrote the script. He warned of exactly what just happened - he is one of the best analysts in the trade. I would say.

Aug 10, 2012 9:49am

Quoting Berna

Disliked

i feel like jumping in front of the train with a small sell

Ignored

Just did that myself but more out of anger.

PS: Its like we are trading with light volumes and some volatility is in order but from what I can see the tops now should retrace. However, the point would have been made that we have turned up.

Aug 10, 2012 9:53am

drtorque doesn't seem to have read any of my posts when he passes his judgement, and also makes assumptions that made him look bad.

I don't care to direct this comment to him, but to any of you reading this and want to get to know my trader-side more and how I adjust between analysis that gets posted on FF, holler at me in skype fan.yang.cmt. I can put you in a skype community of traders, some of them from the FF community as well, where we discuss our trader daily.

- Fan

Aug 10, 2012 9:56am

Quoting Dr.Zain

Disliked

Hi what is the main factor Gold is heading North?

Ignored

Dr. Zain I think that is the general plot but we got to wait to see. Will make a point to let you know my take when the action settles a bit. Cheers

Aug 10, 2012 10:13am — Edited

Quoting moaf

Disliked

Friday, SL hunting ...
Monday, new shorts ...

Ignored

Lets look at what happens rest of the day. The Euro is actually due north even if only to reach 1.24429 and return.

PS: Though my thesis is that if it ever gets there and breaks it - it will be a high flyer for the rest of this year. Mark this post

Aug 10, 2012 10:17am

Quoting Dr.Zain

Disliked

Hi again Loadedgun would you please describe about 4hr candle reading in brief and thanx

Ignored

Hey Doc got to concentrate on my trades just now. I am sure we will find time. Things are moving rather fast - you see.

Aug 10, 2012 10:35am

Quoting Guest

Disliked

people would not get hurt so badly if they followed a simple rule.
Go long USD only on the retrace entry.
There is continuing intervention to prop up equities and the economy, going on for a few years.
The fundamentals consistently point towards weaker growth. Sovereigns are in deep trouble.
The policies implimented are to inflate away the problem. The verdict on success or not is still not in.
If you watch Gold as has been suggested by others it is a measure of liquidity. That should give you help in making your own decisions about Long or...

Ignored

interesting point about gold as a measure of market liquidity - tell us more if you do not mind please. I kind of resonate with your line of thinking as a general explanation for market flows - since I have always maintained that fundamentals are always out of phase with price moves.

redfx1989

Aug 10, 2012 2:46pm

next week..

EUR/USD - Anothers week anothers low

mima

Aug 10, 2012 5:02pm

For some was Black Friday again....well...those has to fund acount becuase it might be Black Monday and Black Tuesday....and Black Every Day...Then one need babysitter(Mentor) for trading...That might help...

drtorque

Aug 10, 2012 9:41am

whatever this clown fanfan says, always the opposite happens. he doesnt know how to trade and only plays demo.

Aug 10, 2012 10:05am

berna - do it!

Aug 10, 2012 10:38am

Quoting Berna

Disliked

i already did and locked in some profit, thanks for the support

Ignored

TP @ 70

Aug 10, 2012 7:01am

The momentum sure does look bearish on EUR pairs. EUR/JPY made a new low already, as the JPY swings back from near-term weakness to strength. - Fan

Trader#91BE

Aug 10, 2012 7:05am

Yes I do agree, a crack below this rising TL, we could see a further decline. I think the market is very uncertain and confused about which direction to head into. Coming into the 8:30am EST Canadian unemployment, we may see a continued push towards this rising channel, but I can't see it breaking through today. Will have to wait for more clues next week.

Trader#185C

Aug 10, 2012 7:36am

Its purely a psychological build up before the storm.A reversal is immenent and euro should strike back soon may be next week.Better to hold onto your longs if your balance in equity is ok.Euro/usd pair.

Johnnymama

Aug 10, 2012 7:49am

Remember what draghi said, don't short them..

then again

Aug 10, 2012 9:15am

Guess not yet...strong push now at target2, which was 1.2440. - Fan

Aug 10, 2012 9:28am

Taken out my comments on gold not to distract from the main issue here. Sorry for that.

Aug 10, 2012 9:54am

I did mention elsewhere yesterday that we should expect a turn up - not confirmed but looks like what we are seeing - note this is not just in the Euro - GBP as well.

Trader#9C71

Aug 10, 2012 10:05am

people would not get hurt so badly if they followed a simple rule.
Go long USD only on the retrace entry.
There is continuing intervention to prop up equities and the economy, going on for a few years.
The fundamentals consistently point towards weaker growth. Sovereigns are in deep trouble.
The policies implimented are to inflate away the problem. The verdict on success or not is still not in.
If you watch Gold as has been suggested by others it is a measure of liquidity. That should give you help in making your own decisions about Long or Short in currencies.

Aug 10, 2012 10:29am

This on a day when wall street is in red - the timing of the push north (if it succeeds) is interesting and instructive.

Aug 10, 2012 3:11pm

Quoting redfx1989

Disliked

next week..

EUR/USD - Anothers week anothers low

Ignored

highly unlikely

Trader#CACE

Aug 11, 2012 10:56am