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  • The Next 48 Hours Are Important for EUR/USD

    From dailyfx.com

    USD/JPY traded to its lowest level in almost 2-months late last week before finding support around the 1x2 Gann angle line of the 1Q13 low in the 96.30 area Subsequent strength back through 96.60 alleviates some of the downside pressure, but a close over a key Fibonacci confluence near 97.50 is needed to turn the near-term trend positive The 78.6% retracement near 95.50 remains key support and weakness below this level is needed to signal a resumption of the near-term downtrend Monday is a minor cyclical turn window A close above the Fibonacci convergence near 97.50 is required to turn us positive on the exchange ... (full story)

48 hours?
Since when?
Quoting johnel
48 hours?
Since when?
Ignore them,just follow the charts
...cuz my chart says, don't wait so long
MR . Kerr,
how come you are allowed to post such crappy charts? i would be ashamed and hide under a stone. fxcm should sack him on the spot.
Quoting Umverteiler
MR . Kerr,
how come you are allowed to post such crappy charts? i would be ashamed and hide under a stone. fxcm should sack him on the spot.
Money can buy everyone soul my friend
or the next 72 perhaps... yet another idiotic article from these people
interesting ... so beautiful colors.
but where are the charts?
hidden behind those lines? ...
  •  Guest
  • | IP XX.XXX.172.213
If you fill a chart with a lot of lines you will find that price will touch some of these lines.
This will demonstrate some future observation that will require to fill the chart with a lot of new lines.
And so on ....
Quoting johnel
interesting ... so beautiful colors.
but where are the charts?
hidden behind those lines? ...
Most probably trapped in his trades So many fooking probabilities makes u wonder if the author trades at all!
Don't you think is possible he knows something that is currently visible to us all. We shouldn't just dismiss it all.
Quoting alues
Don't you think is possible he knows something that is currently visible to us all. We shouldn't just dismiss it all.
What;s the point of writing an EXPERT articles when all NOOBS (including me) can see whats on my chart?? What makes this author then?
Quoting jonathanhk
What;s the point of writing an EXPERT articles when all NOOBS (including me) can see whats on my chart?? What makes this author then?
Sometimes, these guys are privileged (insider trading like) to some information before it gets out
Can you see the reverse so far. CHF was supposed to hit P/SAR on daily and jet off, right now, that is not the case. I pray it reverse down, me am in trouble already as am on sell
i think it's okey they will go down or up...we still follow the rules

trend is our friends, isn't it?
At FXCM?
Quoting alues
Sometimes, these guys are privileged (insider trading like) to some information before it gets out
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
At FXCM?
Spreadbetter, was wondering do such brokers not uses inter bank messages?
The way it stands right now, EURO is likely going back to 1.3337 and I pray so and CHF to 0.9243
  •  Guest
  • | IP XXX.XX.184.235
Quoting johnel
48 hours?
Since when?
12.15 GMT
If Federal Budget Balance comes ugly 8pm GMT, Dollar will submit a little if her gains.
Quoting alues
The way it stands right now, EURO is likely going back to 1.3337 and I pray so and CHF to 0.9243
don't pray without tight sl...
ps:checked', not works
Quoting alues
Set your P/SAR to 0.02 and 0.2, that might give you clear picture to what am referring to on daily and H4. Then stochastic, on H4 is about to make her way down from 80. Once it hits 50 on H4, that will be express to south lane.
I did not say you're wrong.
I told you not to rely too much on prayer
btw, e / u reached upward TL and jumped... so good news for u, matey
Quoting alues
Parabolic Sar
O parabolic, that old tool..... I was thinking of something else
Quoting jonathanhk
O parabolic, that old tool..... I was thinking of something else
We all are leaning every day. No body is perfect. Market is no body's mother. I keep leaning everyday. Since 2008 mostly, market is a crazy place. There is no more Mr. Perfect.
for what i'm concerned, I'll wait until tomorrow to make a decision
@ jonathanhk, which part of the world are you at. Am in South Africa.
Quoting alues
@ jonathanhk, which part of the world are you at. Am in South Africa.
further north from u - in uk
Quoting alues
We all are leaning every day. No body is perfect. Market is no body's mother. I keep leaning everyday. Since 2008 mostly, market is a crazy place. There is no more Mr. Perfect.
the swinging goes up and down, no more mr nice thats for sure
That chart looks like a Christmas tree, the price could touch any one of those lines and the originator will say "I told you so". What a joke, obviously has not made a cent trading forex.
  •  Guest
  • | IP XX.XXX.199.117
Gann angles, fibonacci confluence, lines everywhere - this is a load of crap. No one will ever make a penny trading with this kind of nonsense.
But that's always the fallacy of tech analysis beautifully illustrated, it all lags, its all self fulfilling prophecies and it all curve fits, which isn't a bad thing in itself if you know how to use it.

Quoting johnvr
That chart looks like a Christmas tree, the price could touch any one of those lines and the originator will say "I told you so". What a joke, obviously has not made a cent trading forex.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting johnvr
That chart looks like a Christmas tree, the price could touch any one of those lines and the originator will say "I told you so". What a joke, obviously has not made a cent trading forex.

I tought I used to many lines,but this guy beats it.
Every bar 3 line at least. LOL
This is rather optimistic. Most accounts don't survive 48 hours.
I Open a position 2 week before hearing the stupid suggestion from the site. Just ignore. Listen to your analysis n experience
Liam Neeson is going to trade it...
  •  Guest
  • | IP XX.XX.222.187
If you draw enough lines on a chart anything can be true and on every chart keep an eye out for the next 48 hours things might change substantially.
i went blind!
FF = Forex Faggots
Stop wanking
lol
Quoting Mingary
This is rather optimistic. Most accounts don't survive 48 hours.
ha, ha, ha
Come with me if you want to live....
48 hours.... stooooooopid.
I really adore these chart posts, where a thousand lines are connected to everywhere and a "prediction" is made "exactly" when and where the price will go.

I have a simple theory - if those methods really worked - nobody will be fool enough to post them here, right?

Why I should add more smart monkeys to my tree branch when I can benefit from my knowledge big time?! This is basically a "rob the others, or get robbed" market - not an innovation and creation space like the real business initiatives.
Quoting michaelpelly
Why I should add more smart monkeys to my tree branch when I can benefit from my knowledge big time?! This is basically a "rob the others, or get robbed" market - not an innovation and creation space like the real business initiatives.
Who said this tree had any smart monkeys? Ooh look, a banana! Gotta run.
I was referring to such example as a point, not emphasizing that exactly my "tree" is the smartest in the Universe.

Basically I see 2 kind of opinions here (and other FX forums though) - the "Go, go, go E/U (or whatever)" when 1 on a million times some traders gets profit and the "can't go up, see how fu'ed are the things in XXX" - where people try to find any reason to be "right" when market moves on the other direction.

In the world of quick win/loss speculation there is no place for intelligence - just patience and real accounting for the money you win or loose.

It's all probabilities and loss control - so in that terms any "system" that will "predict" what will happen next 48 hrs is just absurd...well, this is my "not-so-smart-opinion" tree branch.

Good luck to all.

P.S. Catching a good trade by chance is not brilliant - simplistic brilliance is the harmony guitar solo of "Games People Play" of The Alan Parsons Project. :-)
Quoting michaelpelly
I was referring to such example as a point, not emphasizing that exactly my "tree" is the smartest in the Universe.

Basically I see 2 kind of opinions here (and other FX forums though) - the "Go, go, go E/U (or whatever)" when 1 on a million times some traders gets profit and the "can't go up, see how fu'ed are the things in XXX" - where people try to find any reason to be "right" when market moves on the other direction.

In the world of quick win/loss speculation there is no place for intelligence - just...
I was just making a joke. It was a bad one, I know.
No offense :-).

---
Unisonic - "Never change me"! (Kiske & Kai)

There is a rising channel on the EUR/USD daily chart which started on 11th July 2013 when the price action broke above the big 1.30000 figure. At present the price action is at the bottom of the channel. It may be the price action will stay within the channel and retest the top of the channel which current sits in the 1.34500 area. However it is unlikely to stay within the channel forever and will breakout sooner or later. The 14 day ATR has dropped to 79.8 pips which is the lowest seen this year and last matched in December of last year. Often following a narrow daily trading range evidenced by the low daily ATR, there is an explosive breakout. It maybe that there will be an explosive breakout. There is little indication form a technical point of view as to whether the breakout might be to the long side or to the short side. An appropriate trading strategy might be to enter long at the current levels on the basis that the price action will continue to trade within the rising channel. The stop should be a close outside the rising channel. The initial target should be the top of the channel at around 1.34500. The second target would be 1.3700 being just below the high of 1st February 2013. Beyond that there is the 1.42450 area being the high of 27th October 2011. Whist technically returning to such might be possible, the fundamentals within the Eurozone would not really support this. However things in the Eurozone are improving without the massive stimulus offered by the FED. The ECB balance sheet is in a fair state (not brilliant though) whereas the FED's balance sheet is seriously impaired. China is facing a number of challenges and is also the biggest holder of treasuries. It maybe that a fire sale by China repatriating assets could lead to massive Dollar weakness. With this scenario EUR/USD above 1.40000 and higher is not unrealistic.

Thus an explosive breakout is certainly on the cards.
Price was rejected by the weekly 200 sma and the weekly down trend line. It has not closed above either yet and until it does, i am bearish on the pair. For me, weekly trends/indicators trump the daily.
its always better to go by your instinct and study.trade safe.
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  • Posted: Aug 12, 2013 9:36am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 48  /  Views: 11,602