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  • Morning technical analysis – 12 November 2013

    From alpari.co.uk

    The euro is trading lower again this morning, having found resistance yesterday around 1.3415 from the descending trend line. The pair is trading in a triangle on the 4-hour chart, which given the aggressive sell-off leading up to it, suggests it is a bearish continuation pattern. If that is the case then we should see a break lower in the next 24 hours, which would prompt a move back towards last week’s lows around 1.3294. This is the 50% retracement of the move from 9 July lows to 25 October highs so should provide strong support. That said, the pair is looking much more bearish since the break of that 1.3450 ... (full story)

  •  Guest
  • | IP XX.XXX.138.41
The strange thing is that the Euro is going upwards. It does dip downwards but the Euro still remains bullish.
  •  Guest
  • | IP XX.XXX.138.41
Its approaching the 34400s which confirms the bullish trend.
  •  Guest
  • | IP XX.XXX.138.41
Is it also safe to say the USD is finished? and eventually the Euro will become the Worlds reserve currency?
Well more than 60% of the punters are short, and it's going up. In Tom Jones' timeless words, "it's not unusual"

Seriously, rate cuts are often followed by hard runs, then some consolidation, better be careful and not trade EUR for a few days.
forget about tomorrow, just steal away into the night
  •  Guest
  • | IP XX.XXX.35.30
I was heavily short since it broke this morning at 1.3386 but just now managed to get out +2 pips using averaging. Not a recommended exit by any means but I stupidly refused to take the hit and got very lucky it came back down. Well actually I saw 1.3450 really resisted. Still a very dumb tactic. Could have gone 1.3500+

Now if only my heartbeat would lower itself back to normal.......
  •  Guest
  • | IP XX.XXX.35.30
If anyone cares the averaging technique is to close worst performers by using the profits selling at the highest peaks at signs of reversal and closing at re-reversal as an offset. And keep doing that until your average profit line is close to the SMA.

Pure price action. Pure stupidy. (lol)
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  •  Guest
  • | IP XX.XXX.82.149
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  • Posted: Nov 12, 2013 7:14am
  • Submitted by:
     craigerlam
    Category: Technical Analysis
    Comments: 6  /  Views: 1,756