Hi traders,
I can't seem to find a thread on this so I'm starting one. FF mods, feel free to delete this and point me in the right direction if you feel necessary.
Would love to hear what you all think about the EUR/USD in respect to Mid-Long term direction. Yep go on, state your claim and we'll see who's right when the time comes
Don't want free tips for the next scalp, just good discussion on where you think this pair will go for days/weeks/months at a time. Backup your technical/fundamental analysis too
It seems many chart differently and opinion varies a lot. So here's my amateur view.... Feel free to criticise my charting techniques too, I'm keen to get it right.
Don't take this as a prediction either. I'm just looking at what the charts are telling me.
Looks like (to me) that we're in for a possible (long overdue) retracement to the 1.50 area. Seems to be finding it hard to break resistance. As you can see on my chart, we really didn't have a breakout, it tested for a while and now we see it's running back down towards what I've labelled trend support. I'm lead to believe that once the price truly breaks out of support/resistance, the line it breaks then becomes the new support/resistance - right?
Look at the resistance breakout in Sept/Oct 2007. Once broken, it could not get back through and it became a strong support.
A break through the old resistance/new support at 1.45 could officially be the end of the current up trend. Maybe??
I can't seem to find a thread on this so I'm starting one. FF mods, feel free to delete this and point me in the right direction if you feel necessary.
Would love to hear what you all think about the EUR/USD in respect to Mid-Long term direction. Yep go on, state your claim and we'll see who's right when the time comes
Don't want free tips for the next scalp, just good discussion on where you think this pair will go for days/weeks/months at a time. Backup your technical/fundamental analysis too
It seems many chart differently and opinion varies a lot. So here's my amateur view.... Feel free to criticise my charting techniques too, I'm keen to get it right.
Don't take this as a prediction either. I'm just looking at what the charts are telling me.
Looks like (to me) that we're in for a possible (long overdue) retracement to the 1.50 area. Seems to be finding it hard to break resistance. As you can see on my chart, we really didn't have a breakout, it tested for a while and now we see it's running back down towards what I've labelled trend support. I'm lead to believe that once the price truly breaks out of support/resistance, the line it breaks then becomes the new support/resistance - right?
Look at the resistance breakout in Sept/Oct 2007. Once broken, it could not get back through and it became a strong support.
A break through the old resistance/new support at 1.45 could officially be the end of the current up trend. Maybe??
