EUR/USD – Eases back under 1.31

EUR/USD – Eases back under 1.31

From oanda.com

In the last 24 hours, the Euro has started to ease back a little and head back under 1.31 again and it appears to be resuming its medium term down trend. In the last few days, the Euro did well for a little while as it has enjoyed a good rally off any support around the key 1.30 level and pushed back up towards 1.3150. It has remained within a reasonably narrow range over the last couple of days and has had a chance to take a deep breath and work out what has happened over the last week or so with its strong falls from over 1.34. As it approached the long term key level of 1.30 during the last few days, some demand ... (full story)

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Feb 28, 2013 8:27pm

EURUSD still within range and sitting just under the 61.8% fib retracement of the 1.2662/1.3710 move and just above the 200ema which is providing good support at present. It will take some decent risk event to break these conclusively but a weekly close below these sets up good short trades next week.

Deano9999

Mar 1, 2013 6:00am

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Quoting Loadedgun

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Pretty neat view of the present balance - and clearly we have the pair ranging within a critical band in the daily from which a break below/above should signal its short to medium-term prospects. Cheers

Ignored

Its now taken out the week low and with the 20ema now crossing the 50ema short on the daily chart this smells like its going to take out the 14 Jan low. Looks like the EU and Italian unemployment info and the US sequester might be enough of a risk event to force it down. The US session after London closes will tell - they sometimes like to rearrange the furniture when they have it to themselves.

TraderPablo

Feb 28, 2013 9:35pm

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looks like it takes a good run/fall from above to brake 1.30 significantly......lots of stops there and the market will hunt them down...snr or ltr.....hopefully a little later..bcs i'm long

TraderPablo

Feb 28, 2013 10:53pm

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....took all but one lot left ..if stopped out so be it...

TraderPablo

Feb 28, 2013 11:02pm

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btw. i checked Oanda's d-feed into mt4.....very fluid.....must have decent liquidity.....

Loadedgun

Mar 1, 2013 2:00am

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Quoting Deano9999

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EURUSD still within range and sitting just under the 61.8% fib retracement of the 1.2662/1.3710 move and just above the 200ema which is providing good support at present. It will take some decent risk event to break these conclusively but a weekly close below these sets up good short trades next week.

Ignored

Pretty neat view of the present balance - and clearly we have the pair ranging within a critical band in the daily from which a break below/above should signal its short to medium-term prospects. Cheers

rigpa

Mar 1, 2013 2:27am

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It can´t go under 1.3050 because of stupid UBS. They´ ve bought on 1.3017 and are defending this level. Some traders need more time to understand you can´t go agains the wind...