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EURUSD only

  • #21,581
  • May 13, 2018 12:34am May 13, 2018 12:34am
Quoting teek
very interesting outlook for the eur/usd by stephen gallo. When stephen gallo gives his opinion, you should listen, and listen closely. -> https://www.marketwatch.com/story/wh...teid=rss&rss=1 ok, now let's assume he is right, here are the technical levels: 12 months scale: - 1.2126 - 1.2413 - 1.2605 - 1.2778 - 1.3047 further: - 1.3215 - 1,3369 ... Just in case next year someone calls me out in a desperate attempt to debunk my calls: Hello future...

i dissagree .
Will see 1.3 in 2-3 months (not 12 months)
also around 1.3 will be the high for years .
  • #21,582
  • May 13, 2018 1:00am May 13, 2018 1:00am
I completely disagree with you both, because we are going to ~0.80 in about 2 months from now, no joke, my neural trading networks all point to that, so it is going to happen with a 99% chance.
  • #21,583
  • May 13, 2018 1:05am May 13, 2018 1:05am
Quoting geektrader
I completely disagree with you both, because we are going to ~0.80 in about 2 months from now, no joke, my neural trading networks all point to that, so it is going to happen with a 99% chance.
sound like one...joke I mean...
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #21,584
  • May 13, 2018 1:11am May 13, 2018 1:11am
Quoting geektrader
i completely disagree with you both, because we are going to ~0.80 in about 2 months from now, no joke, my neural trading networks all point to that, so it is going to happen with a 99% chance.
most propably we will all be wrong.
In the case where any of us is correct most propaply will not manage to take any profit .
  • #21,585
  • May 13, 2018 1:14am May 13, 2018 1:14am
Thank you FF for the yellow batch....not sure how it helps but it looks cool lol
Market Player
  • #21,586
  • May 13, 2018 1:30am May 13, 2018 1:30am
Quoting Micm147
{quote} i dissagree . Will see 1.3 in 2-3 months (not 12 months) also around 1.3 will be the high for years .
might very well be the case.
We'll see. However, 1.30+ is very possible.
Much depends on the widely ignored fact that China buys Russian Oil not for Dollar anymore but for Yuan and offering an exchange of Yuan for Gold in return, thus making an attempt to return to the Gold Standard and get rid of the Petro-Dollar.
Also look at the current behavior of the Bond markets. (the driving force)
And let's not forget the "easy money" policy of central banks caused us to be stuck in the largest bubbles in human historie. 1929 is a mere joke compared to what we see now and I don't want to think about what happens when this "thing" comes down in an uncontrollable manner.
Currencies will fly, for a short term, bur it's not going to be the USD. It's going to be the Yen, the Yuan and the Euro (EUR/USD).
And after all, currencies (Fiat Money) has no intrinsic value (unlike Gold Standard).
Get rid of the Petro$$... what's the value in the USD now? There is no value in it and in the end... well, we will see.
If you ask me, the USD looks very shaky, "synthetic" so to speak, and I think within the next two to five years we will see some "interesting" times.
Something's cooking...
To me it all seems like a race for who is going to collapse first.
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  • #21,588
  • May 13, 2018 1:45am May 13, 2018 1:45am
Quoting alio2
Hi friends this is h4 chart of gold it seem that gold will be downtrend and north korea's program to destruction of nuclear Testing equipment that say yesterday with north korea in next week will happen is very important and help to downtrend gold. Therefor EurUsd is down in these weeks . {image}
this is the EUR/USD Only, so sadly I can not give some really good reasons to never short Gold in here.
But for the newbie traders reading this, who might feel tempted by the above chart:
do not short Gold. NEVER!
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  • #21,589
  • Edited 2:07am May 13, 2018 1:48am | Edited 2:07am
Quoting Micm147
{quote} most propably we will all be wrong. In the case where any of us is correct most propaply will not manage to take any profit .
Yeah, and the good thing is: it is not about being right or wrong

so, to get back to topic:
I am still positive on 1.17, 1.16 and even 1.15 maybe.
But in the long run, the Euro will go one direction: Long
In the current situation I can paint all sorts of scenarios and pricelevels up and down.
Nothing is set in stone and all specutaltions should be seen as what they are: "Speculation". Nothing else.
It is not in our hands and it's the markets that tells us what to do, not the other way around.

In the very long run, it will go to Zero, like all currencies without value will. But that's the "very" long run.
Until then, I trade it either way.
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  • #21,590
  • May 13, 2018 2:47am May 13, 2018 2:47am
So, here is my H4 chart for the week.
I am long on EU, neutral on EJ and short on UJ (the "big 3")

I switched from bearish to neutral with tendency to bullish:
1.1822-1.1840 served as local bottom and strong support
If the price can break 1.1962 and stay above, I target:
1.2047, 1.2118 and 1.2188

please ignore the Buy order down there, it's a "hail mary" early entry with an unprecise stop.
Please don't copy, if you do you are alone.
Good luck and have a green week
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4-13.05.2018.png Size: 39 KB
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  • #21,591
  • May 13, 2018 3:57am May 13, 2018 3:57am
S&D levels for your consideration.
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Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
  • #21,592
  • May 13, 2018 4:28am May 13, 2018 4:28am
Quoting Teek
So, here is my H4 chart for the week. I am long on EU, neutral on EJ and short on UJ (the "big 3") I switched from bearish to neutral with tendency to bullish: 1.1822-1.1840 served as local bottom and strong support If the price can break 1.1962 and stay above, I target: 1.2047, 1.2118 and 1.2188 please ignore the Buy order down there, it's a "hail mary" early entry with an unprecise stop. Please don't copy, if you do you are alone. Good luck and have a green week {image}
1.196-7 hard to break ... but if it break we will see 1.204-5 for sure
  • #21,593
  • May 13, 2018 7:55am May 13, 2018 7:55am
If 1.19 level holds - EUR probably will make another leg up, at least to 1.20, or directly to 1.2040-1.2060

Attached Image (click to enlarge)
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  • #21,594
  • May 13, 2018 9:13am May 13, 2018 9:13am
i'm going to try this and see if my buy idea works
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Don't Worry Be Happy
  • #21,595
  • May 13, 2018 9:43am May 13, 2018 9:43am
Quoting Micm147
{quote} i dissagree . Will see 1.3 in 2-3 months (not 12 months) also around 1.3 will be the high for years .
For swing terms or long terms it seems the EURUSD on his way to 1.2320
  • #21,596
  • May 13, 2018 10:37am May 13, 2018 10:37am
22/12/2017 low 1.8162 bulls move forwared same line 9/05/2018 low 1.18222 is trying to push upwards so we have to see the further progress as per daily if not 1.15850 could be the target on a longer time basis . keep checking daily close . we can also think two days of up move is just retracment form the bear side

tech indicators MACD and alligator is on bear side . for short term profit i may go for short all based on H1 chart and usa
  • #21,597
  • May 13, 2018 10:57am May 13, 2018 10:57am
Hi Guys,

My Buy trades still holding up. However, a few concerns..we had 3 days of consecutive New york higher highs iow a 3 day push of higher highs and higher lows. From my observations 3 day pushes usually occur in a trendy situation where you have either a retracement of the intended direction or a swing reversal. This could very well spell a reversal back to the downside for me. Much will depend on Asia tomorrow. If they push asia (Maroon Block) above the new york (blue block) session high of friday last week it could mean that they are stophunting and will drive it back down into the London session going into New york.. An ideal asia session would be to hold the range between the New York session of friday last week and wait for London open at which I will look to enter a buy trade. Flip side if asia breaks the Asian session of friday last week I will be looking to enter shorts. The overall bias however remains up at this point in time with Eu sitting just below my monthly support with a bounce off monthly support 2.

Good luck with the coming week.
Cheers
Leon
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Trade to trade another day
  • #21,598
  • Edited 11:34am May 13, 2018 11:22am | Edited 11:34am
" However, a few concerns..we had 3 days of consecutive New york higher highs iow a 3 day push of higher highs and higher lows"

My problem with this is, there is no economic reason for the current USD strength.
Across the board the numbers are pretty weak and the entire "strength" in the USDX is based on the majors alone, EUR/USD, USD/JPY and the likes...
By all means, look at the Swissy and explain me that's "natural"? What currently drives the show are the minors and exotics
I have seen this quite too often and what I am looking at is a synthetic setup, painting strength into something that has no strength.
We peak at highs without the volatility to do so, it's not real, it's fake strength without the underlaying foundation that a sustainable situation needs.
Thus, the situation on the USD is not sustainable, it is a bear setup and the bears will run wild on it.

That's why I am not interested in selling the EUR/USD at this price, at this point in time, in this situation.
To me it smells like shit and if in doubt I stick with my instincts.
There is no real strength in this USD, it's a setup.

Don't get me wrong, I did sell the EUR/USD all the way down from the range breakout and I will trade it either way.
Come 1.16 / 1.15 I'll trade it down. But for now I think it has found a bottom within the 1.1822-40 levels with 1.1820 as a very strong technical, fundamental and psychological level.
1.1820 is a very strong price in this market.
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  • #21,599
  • May 13, 2018 11:37am May 13, 2018 11:37am
Thanks Teek for looking at my post and the comprehensive answer...

Cheers
Leon
Trade to trade another day
  • #21,600
  • May 13, 2018 11:37am May 13, 2018 11:37am
Quoting Teek
" However, a few concerns..we had 3 days of consecutive New york higher highs iow a 3 day push of higher highs and higher lows" My problem with this is, there is no economic reason for the current USD strength. Across the board the numbers are pretty weak and the entire "strength" in the USDX is based on the majors alone, EUR/USD, USD/JPY and the likes... By all means, look at the Swissy and explain me that's "natural"? What currently drives the show are the minors and exotics I have seen this quite too often and what I am looking at is a synthetic...
well done man. I agree with u about the price point . it is ice cream
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