EURUSD

There will be some potentially uplifting news for euro this morning (GMT time) and some damaging news for the $ this afternoon (GMT time). Good idea to short euro? Might artificially skew this thing a lot.

How about that 46 point bar on the 5 minute. It's solid red stem to stern, no wick. @ 5:00am eastern.

This is some wild price action, I'll tell ya. Made some of the easiest pips ever riding this thing...

me too ..
good luck for everyone

Where is everybody? Made loads of money and gone home?

i went short on 1.5792 adding on 1.5804, target, 1.5740 lets see!

i am long 1.5804 since around 9AM this morning....

Well, we have arrived at the .618 ret of the rally from the post G7 sell off at 1.5675 to 1.5885. Either that holds and we go back up, OR we can test the.786 ret at 1.5715 which is also the up trend line from the "triangle" that was being watched. If that falls by the wayside the only thing holding this up is the G7 low at 1.5675. If that goes we should be pretty clear on the downside.

Right now we have oversold 30 min & 60 min osc. Maybe have to work that off for a while. I guess the rally from here (if there is one) will tell just how much comitment there is on either side of the tug of war

The upward pennant in the daily chart is still holding strong, people clearly want to see it reaching 1.60...but USD news are not bad lately and EUR news aren't bad either.

At this point I think it will be determined by the earnings coming out of big banks this week.

In the end forex traders always look at the big picture and towards the future.

Yes, we do have small swings in the meantime like today, but if the earnings of big banks show bad numbers, then Forex traders know that it will only mean one thing: the USA will have a hard time in the future to get rid of this big credit problem and the borrowing that all these banks are doing is just a quick fix that only makes the problem bigger.

Remember what they say...out of all the traders, stock traders are the most "stupid" ones because they are narrow minded and only look at the moment, Forex traders are more open minded and look at the big picture and its implication on the future.

The lower triangle line is at 5670 area now.

Trade Channel:
Short 1.5785 Maximum - 1.5792
Long 1.5763 Minimum - 1.5757
Go for 12 pips!


Forget that Channel
Short only after next H1 close, go for 10 pips!
Price may go to 1.5815.

Good Luck!

1.5792 tp 1.5780 was OK!
Not Lost, better not Won!

TP 1.5760

Order short 1.5755 TP 1.5719

This is going down to support line at 1.5670

where is everybody at? do we think we will retest 5700?

Time is better spent not trading EUR/USD for the moment. It needs to pick a direction for the serious pips to be made.

yes.. i agree with u kharvell.. not save for trade EUR/USD now.. some important news this week.. so unpredictable.. wait & see perfect pattern EUR/USD completed..

enjoy my monday profit position.. hehe..

well atlast EUR/USD broke the resistance at 1.5900 and is heading up for good

Can you say....... 1.6000.... although, 9960 may be it, this time around.

I can say 50 pips risk for 500 gain.. But small risk of course..

Hello...

1.6000 is possible... but as i noted we must carefull today, because the american session could do today a correction of the european uptrend... i think it is a good time for a short position, tigh SL and TP... many news today... so as i said before the market is a lot speculative than never... there´s no possible forescast for today... many news with no sense of direction..

I was very lucky to not trade before the gap... of sunday!!!