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  • EUR/USD Breaks Through 1.33 Resistance, Reviving Outlook to 1.3485

    From fxtimes.com

    Bullish Break: The EUR/USD has been on a tear since finding support from a rising trendline that went back to the 1.2640 July-low,  and staying above 1.30. In 24 hours, the pair is trading around 1.3350, during the 1/11 session. This breaks above a previous consolidation resistance at 1.3306. The break is a sign of bullish continuation. If the market can hold above 1.30, it would be a very strong sign that bulls are in charge of this market. Target: The bullish break continues a bullish outlook that has had the 2012-high at 1.3485 in sight as seen in the weekly chart. The weekly chart also still has some ... (full story)

Sure did, and it also retraced. Shouldn't you wait for at least a close above resistance? Pretty sure that's basic.
Quoting pip_trader
Sure did, and it also retraced. Shouldn't you wait for at least a close above resistance? Pretty sure that's basic.
You make a good point. If market retraces today's breakout and move, close below 1.33 and it becomes a tail on the daily chart making it a doji type of candle, then it shows exhaustion. The bias would still be bullish in the medium-run, but strength will not be as convincing as a close that stays above 1.3310 for example.

- Fan
Quoting fxtimes
You make a good point. If market retraces today's breakout and move, close below 1.33 and it becomes a tail on the daily chart making it a doji type of candle, then it shows exhaustion. The bias would still be bullish in the medium-run, but strength will not be as convincing as a close that stays above 1.3310 for example.

- Fan
Agreed. These analysts try to jump the gun with sloppy analysis to pat themselves on the back if it's correct.
I think you're talking to the analyst wot wrote it, or are you being very dry with the humour ;-)

Quoting pip_trader
Agreed. These analysts try to jump the gun with sloppy analysis to pat themselves on the back if it's correct.
heh its okay, analysts always get a bad rep as a specie. I have done this long enough to understand and accept it.

I promise I will get it right And wrong. And as much as I would love to express my thoughts on how to manage the rights and wrongs, I can't be writing articles all day and take away from my trading.

So, I am going to miss covering some scenarios that develop, warranting adjustments to original analysis.

- Fan
Lol, we're all analysts aren't we? I have read a lot of Fan's articles and enjoy them (particularly the JPY pairs). He has been right quite a bit. We never are 100 percent.

But, he also shared similar thoughts to my original comment. I was not criticizing the overall analysis as I was to quickness to confirm (of course based on my analysis). That is all.

However, I do think many of the feed articles do jump the gun sometimes. Fan made a point he can't write articles all day but as a fellow analyst, I feel we should all question, challenge, or share thoughts, analysis and opinions.

No offense to Fan or other analysts.
I think analysts are 'right' 50% of the time and in many ways it takes guts to put your head above the parapet and make a published call. However, if the analysis is right and the reasoning at the time but the market turns then "that's the market."

The price action on the daily TFs has been v.erratic since the fiscal cliff fudge and Draghi's speeches. Therefore it's been impossible to determine a trend. Probably been an exciting period for intraday traders.

Quoting pip_trader
Lol, we're all analysts aren't we? I have read a lot of Fan's articles and enjoy them (particularly the JPY pairs). He has been right quite a bit. We never are 100 percent.

But, he also shared similar thoughts to my original comment. I was not criticizing the overall analysis as I was to quickness to confirm (of course based on my analysis). That is all.

However, I do think many of the feed articles do jump the gun sometimes. Fan made a point he can't write articles all day but as a fellow analyst, I feel we should all question, challenge,...
Good technical analysis, sound reasoning, good site. What's not to like? :-)

Quoting fxtimes
heh its okay, analysts always get a bad rep as a specie. I have done this long enough to understand and accept it.

I promise I will get it right And wrong. And as much as I would love to express my thoughts on how to manage the rights and wrongs, I can't be writing articles all day and take away from my trading.

So, I am going to miss covering some scenarios that develop, warranting adjustments to original analysis.

- Fan
Quoting Squeeze
I think analysts are 'right' 50% of the time and in many ways it takes guts to put your head above the parapet and make a published call. However, if the analysis is right and the reasoning at the time but the market turns then "that's the market."

The price action on the daily TFs has been v.erratic since the fiscal cliff fudge and Draghi's speeches. Therefore it's been impossible to determine a trend. Probably been an exciting period for intraday traders.
I can agree on both accounts. What we all attempt to do is not easy, and it has been rather an odd time for trading.

I still believe we should all challenge and collaborate with each other as it will make us better.
I have to agree that EURUSD is on a bullish run, simply Obama can't do much about it. And Draghi has done a good job (I really don't like to say this, because stronger EUR has some disadvantage (whatever it means) ) to make EUR higher and higher.

The outlook of world economy is fragile, and much depends on China progress. How can this be? It will be more fragile if USD continue to depreciate. I am not that optimist about S&P 500, but who knows. But this is the world we live in, whatever it is.

This is just an opinion, and don't take it as face value.
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  • Posted: Jan 11, 2013 10:21am
  • Submitted by:
     fxtimes
    Category: Technical Analysis
    Comments: 10  /  Views: 3,122