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  • #1,139,561
  • Edited 1:02pm Jan 1, 2018 12:42pm | Edited 1:02pm
Quoting F.g
{quote} Mate, Germany wants out...??? WHY ??? For what reason ? Germany will engulf all other states in Europe . It will be the OWNER of all Europe soon. It allready is . Nothing will implode . Only unforeseen grand scale events can alter this situation .
he's quite right there , a growing number of Germans , is fed up with the Euro, Mario Draghi, Angela Merkel , QE, Immigration , Euro-Led Inflation (although the ECB claims there's no Inflation at all ) , that's why the AFD party got a big result in the last elections

but you're right too , nothing will implode in Euroland as long as European burlesque politics will kick the Euro can down the avenue (or better , avenEU)
  • #1,139,562
  • Jan 1, 2018 1:13pm Jan 1, 2018 1:13pm
Eu zine wil not colapse. They need the small countries from EU to export what they produce. That is the politics in EU. All the small countries that join, import from big countries and they stop producing on their own.
Si regarding EU imploding, i guess Germany and france have to much to win to let it dissapear.
MAKE IT RAIN
  • #1,139,563
  • Jan 1, 2018 1:13pm Jan 1, 2018 1:13pm
[quote=Davit;10631833]{quote} Nobody is holding positions in forex for years.While your chart may look convincing it does not work in reality.
Correct and to the point

[quote=Bionics;10631708]." Looking at the history of the EURUSD over the last 47 years,
What is the Euro currency in your chart calculated from pre 1999 ? and why 1971 ?
  • #1,139,564
  • Jan 1, 2018 2:36pm Jan 1, 2018 2:36pm
Quoting F.g
{quote} Mate, Germany wants out...??? WHY ??? For what reason ? Germany will engulf all other states in Europe . It will be the OWNER of all Europe soon. It allready is . Nothing will implode . Only unforeseen grand scale events can alter this situation .
That’s a real interesting observation.

I’m old enough to remember when Germany had its own currency and back in the day the Deutsche Mark was one of the strongest currencies in the world
  • #1,139,565
  • Jan 1, 2018 2:43pm Jan 1, 2018 2:43pm
Hello Squiggles, First of all, I wish you a Happy New Year 2018. You are right, the euro was introduced on 1 January 1999 as book money, three years later, on 1 January 2002, as cash. In my Metatrader I was able to download the price chart until 1971. I suspect that from 1971 to 1999 the former currency DM was converted into euros. The calculation that I have carried out here is not a realistic preview, because no one can look into the future. It is also true what Davit writes. No one holds his position for years. But as a swing trader, the overall trend is allways important.
Forget:That does not work, amateurs build the ark, pros the Titanic!
  • #1,139,566
  • Jan 1, 2018 2:59pm Jan 1, 2018 2:59pm
Quoting Bionics
Hello Squiggles, First of all, I wish you a Happy New Year 2018. You are right, the euro was introduced on 1 January 1999 as book money, three years later, on 1 January 2002, as cash. In my Metatrader I was able to download the price chart until 1971. I suspect that from 1971 to 1999 the former currency DM was converted into euros. The calculation that I have carried out here is not a realistic preview, because no one can look into the future. It is also true what Davit writes. No one holds his position for years. But as a swing trader, the overall...
that chart is actually what is called the Synthetic Euro , which is nothing else but a Synthetic exchange rate computed taking into account the aggregate exchange rate of all currencies composing the Euro ( DM , French Franc , Peseta , Lira , Dutch Gulder , etc ) preceding the introduction of the Euro on Jan 1st 1999 going all the way back to 1971
  • #1,139,567
  • Jan 1, 2018 3:31pm Jan 1, 2018 3:31pm
If you are tracking the EURUSD this week for possible trading opportunity, consider this top-down technical perspecive.

The EURUSD has disposed northward since December 2016. On the weekly timeframe, price action consolidated for several weeks at the 38.2 Fib retracement zone of the downward swing from the high of May 2014 to the low of March 2015. Price action is respeccting a support trendline (navy colour) but a resistance trendline (chocolate colour) has constrained upward move of price action since October 2017. It will take a strong bullish intent to significantly break the resistance trendline northward. However, we may see a test of the high of the bullish spike seen in the first week in September 2017, which is around the 1.20935 area, this week before any retracement southward. A major area that will be attractive to bulls is the 1.23340 handle. But this is a location where bears may likely drive price action southward.

On the H4 time frame, price action has witnessed a 32.8 Fib retracement of the upward swing from the low of April 20, 2017 to the high of September 8, 2017. An outer support trendline (magenta colour) is still in play even though price action has moved further upward from it to respect an inner support trendline (chocolate colour); which is an indication of increased northward momentum. Price action is likely to move northward to around the 1.20895 area before any pullback. It is important to note that the outer support trendline (magenta colour) on the H4 time frame is equivalent to the support trendline seen on the weekly time frame.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #1,139,568
  • Jan 1, 2018 4:03pm Jan 1, 2018 4:03pm
How would I trade this pair?

I am bullish on this pair. However, I will wait for a retest of the inner support trendline (chocolate colour) on the H4 time frame before looking for a buy trading opportunity. Should price action breach this trendline southward, I will wait for a retest of the outer support trendline (magenta colour) on the H4 time frame before looking for a buy opportunity. But a breach of this outer support trendline would negate my bullish bias.


Trade safe and prosper.

KP

Quoting KeenPips
If you are tracking the EURUSD this week for possible trading opportunity, consider this top-down technical perspecive. The EURUSD has disposed northward since December 2016. On the weekly timeframe, price action consolidated for several weeks at the 38.2 Fib retracement zone of the downward swing from the high of May 2014 to the low of March 2015. Price action is respeccting a support trendline (navy colour) but a resistance trendline (chocolate colour) has constrained upward move of price action since October 2017. It will take a strong bullish...
Do your homework, follow the footprints of smart money
  • #1,139,569
  • Jan 1, 2018 4:59pm Jan 1, 2018 4:59pm
quite a strong 2018 open

trading @ 1.2015 atm
  • #1,139,570
  • Jan 1, 2018 6:13pm Jan 1, 2018 6:13pm
The first target is @ 1.20183
  • #1,139,571
  • Jan 1, 2018 10:20pm Jan 1, 2018 10:20pm
Eur/Usd broke 1.20 level, bullish trend is still very well intact, next target will be 1.2092.
  • #1,139,572
  • Jan 1, 2018 10:54pm Jan 1, 2018 10:54pm
Quoting MXT
quite a strong 2018 open trading @ 1.2015 atm
price will drop to 1900 first, don't get caught in a trap, wait for NY to start
  • #1,139,573
  • Jan 1, 2018 11:30pm Jan 1, 2018 11:30pm
Quoting csc2009
Eur/Usd broke 1.20 level, bullish trend is still very well intact, next target will be 1.2092.
I got 1.2080 as a target to take profits for today.
  • #1,139,574
  • Jan 2, 2018 1:30am Jan 2, 2018 1:30am
Quoting PatienceFx
{quote} price will drop to 1900 first, don't get caught in a trap, wait for NY to start
trade with the trend, I learned that lesson the hard way ... trend is clearly up ...
  • #1,139,575
  • Edited 2:04am Jan 2, 2018 1:51am | Edited 2:04am
Quoting csc2009
Eur/Usd broke 1.20 level, bullish trend is still very well intact, next target will be 1.2092.
Iam lookin for 1.21 if we break that it will be bullish.
We saw that level earlier,i don't want to be screwd to buy the top.

Otherwise we could see lower levels,so i wait for conformation.

Remember we have NFP later this week.
  • #1,139,576
  • Jan 2, 2018 2:16am Jan 2, 2018 2:16am
Min requirement to reach 1.20 35 achieved ...[~1.2038 ] We are in bullish territory still.... but I am watching for

a sign to reverse . Today is a reversal day for me .

Be on the alert .

  • #1,139,577
  • Jan 2, 2018 2:23am Jan 2, 2018 2:23am
Quoting F.g
Min requirement to reach 1.20 35 achieved ...[~1.2038 ] We are in bullish territory still.... but I am watching for a sign to reverse . Today is a reversal day for me . Be on the alert .
not sure, us index still going down.
  • #1,139,578
  • Jan 2, 2018 2:47am Jan 2, 2018 2:47am
Quoting PatienceFx
{quote} price will drop to 1900 first, don't get caught in a trap, wait for NY to start
currently trading @ 1.2045

trend is still up Bud , i'm still in dip buying mode

sure there will be pullbacks , but the bears are the ones caught in the trap atm
  • #1,139,579
  • Jan 2, 2018 2:58am Jan 2, 2018 2:58am
Yeap buddy . I am watching patiently . $JY can go somewhere between 112.30-112.00 and bottom out there ,
which is not that far , pricewise and timewise...

  • #1,139,580
  • Jan 2, 2018 3:08am Jan 2, 2018 3:08am
Quoting F.g
Yeap buddy . I am watching patiently . $JY can go somewhere between 112.30-112.00 and bottom out there , which is not that far , pricewise and timewise...
never fight the trend Bud , may the force be with you
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