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  • #79,561
  • Feb 24, 2019 3:51am Feb 24, 2019 3:51am
Quoting Oc6oph
It might come down to 1.1280 before going up
It's too much.
Maybe to 1.13000 tops
yes yes yes
  • #79,562
  • Feb 24, 2019 4:05am Feb 24, 2019 4:05am
Quoting Techanalyst
{quote} Those dojis, undecisive. What that means usually it goes the opposite way, in this case most likely going up.
yep - taking a pause before shooting up again
  • #79,563
  • Feb 24, 2019 4:54am Feb 24, 2019 4:54am
For me this all shows a bearish sign,
Prices failed to reach 1.1380, (feb 21)
it's confirmed for the bearish trend continues.

The price might reach 1.1345 again,
but this is only for minor corrections,
before heading south deeper.

New upward trends can be formed in a few days,
the bearish trend is now quite old.
But for the time being the direction still south.
  • #79,564
  • Feb 24, 2019 4:55am Feb 24, 2019 4:55am
so this post is for Galactico but also anyone else who has trouble with the EA 'mauro trailing' that i posted a few days back....
please see the picture enclosed.

Mauro should be in your EA folder.
Double click to place it on your chart.
You should see the EA in top right corner.

If the face is happy, then its working, if sad then its not working yet....
See the first red circle....

Open the EA and go to tab "common" ..make sure the option 'allow live trading' is on. See 2nd red circle in picture.

Last but not least: auto trading at the top of the MT screen should be on....(see the 3rd picture)....


@ Ata: sorry for doing this in the thread;
i wanted to send a PM to galactico but could not find an option for enclosing attachments in the PM system....
Attached Image
in wondering about yourself, you forgot what you came here to be part of
  • #79,565
  • Feb 24, 2019 5:05am Feb 24, 2019 5:05am
Quoting knkie
so this post is for Galactico but also anyone else who has trouble with the EA 'mauro trailing' that i posted a few days back.... please see the picture enclosed. Mauro should be in your EA folder. Double click to place it on your chart. You should see the EA in top right corner. If the face is happy, then its working, if sad then its not working yet.... See the first red circle.... Open the EA and go to tab "common" ..make sure the option 'allow live trading' is on. See 2nd red circle in picture. Last but not least: auto trading at the top of the...
No problem since it is a weekend day and also because of lack of pm file sharing..

Stay Green
Focus only on what truly matters!
  • #79,566
  • Feb 24, 2019 5:10am Feb 24, 2019 5:10am
Quoting Pickles
This thread always has good analysis...
Thanks in the name of all members.

Looking at spot price on Reuters, it seems like EURUSD might open a little higher. I am anticipating a bounce up for a while targeting 1.1400 area. I have a support level nearest at 1.1320 area and first thing I will check for is if that level rejects or not once/if bears retest it.

Stay Green
Focus only on what truly matters!
  • #79,567
  • Feb 24, 2019 5:12am Feb 24, 2019 5:12am
Quoting Ata-Turkoglu
{quote} Thanks in the name of all members. Looking at spot price on Reuters, it seems like EURUSD might open a little higher. I am anticipating a bounce up for a while targeting 1.1400 area. I have a support level nearest at 1.1320 area and first thing I will check for is if that level rejects or not once/if bears retest it. Stay Green
I don't like gap up/downs, unless it is very strong. Most of the time, gap up/downs just screw with the traders and then correct itself..my two cents anyway.
Christabelle means beautiful. I'm here to chit-chat and eat cotton candy.
  • #79,568
  • Feb 24, 2019 5:44am Feb 24, 2019 5:44am
Quoting Pickles
{quote} I don't like gap up/downs, unless it is very strong. Most of the time, gap up/downs just screw with the traders and then correct itself..my two cents anyway.
Since I am generally starting my analysis with the Daily chart, I don't mind gaps at all. But I can understand the annoyance of it for small timeframe traders.

Overall, no matter if you are intraday or interday trader, the 1.1305/20 area is crucial support to watch.

Happy trading to all members for this week. Peace

Stay Green
Focus only on what truly matters!
  • #79,569
  • Feb 24, 2019 6:13am Feb 24, 2019 6:13am
Quoting Pickles
This close is bullish, but nonetheless, I will want to wait for confirmation on all time frames...good weekend to all.
Why is the close bullish?

the only bullish reason i see is that we have a green weekly candle close, i cant see anything beyond that thats bullish...

bulls have failed to follow through on the move from high 12s... now i see indecision with 3 daily dojis and a rejection of every attempt at 1370 and the dojis getting slightly lower each time - if anything i see indecision but with the bears having slightly more conviction... next week could see a move lower because of this, then all the US data will come into play and prices will move based on what comes of that.

My bias doesnt have enough conviction to trade either way all things considered, but if i was to take a gamble - i think i would go short, preferably from the upper zone of the range weve been in last 3 days if asia bids it up - carry the short into london/frank session before TP
  • #79,570
  • Feb 24, 2019 6:36am Feb 24, 2019 6:36am
Quoting groper
{quote} Why is the close bullish? the only bullish reason i see is that we have a green weekly candle close, i cant see anything beyond that thats bullish... bulls have failed to follow through on the move from high 12s... now i see indecision with 3 daily dojis and a rejection of every attempt at 1370 and the dojis getting slightly lower each time - if anything i see indecision but with the bears having slightly more conviction... next week could see a move lower because of this, then all the US data will come into play and prices will move based...
Well you could argue that its forming a bullish flag and price is holding in the confined range of 1.1315-1.1370 P.S the dxy looks like it will drop further after the rejection of the H&S neckline on friday. (which is way more clearer than the eurusd chart)
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  • #79,571
  • Feb 24, 2019 7:22am Feb 24, 2019 7:22am
Quoting Abrar1299
{quote} Well you could argue that its forming a bullish flag and price is holding in the confined range of 1.1315-1.1370 P.S the dxy looks like it will drop further after the rejection of the H&S neckline on friday. (which is way more clearer than the eurusd chart) {image} {image}
I agree the DXY is under pressure and im also watching the descending resistance line keeping a lid on it.

However i dont think we should confuse broad based USD weakness (dxy) with EUR strength... The EUR is also under pressure against all other majors - looks like even more pressure than DXY and hence EU has closed lower 3 days in a row. The lack of price trend on EU last 3 days is EUR and USD are both getting sold off in all markets... All things considered between both of them - USD still has a stronger fundamental basis to it and this supports the long term bear trend we have on EU.

That said, EUR was perhaps a little oversold against most other currencies last friday so it could see some recovery/retracement monday and id not be surprised to see a bounce up. Id also not be surprised to see the following break down ... There is a rising support line clear to see on H1-H4 which will be critical on supporting EU in the coming sessions... current sideways price action will see us possibly/probably touch this line monday - whether it breaks or supports is anyones guess - this is why i dont like it and prefer not to trade until i see what happens with that;
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  • #79,572
  • Feb 24, 2019 7:30am Feb 24, 2019 7:30am
Quoting groper
{quote} I agree the DXY is under pressure and im also watching the descending resistance line keeping a lid on it. However i dont think we should confuse broad based USD weakness (dxy) with EUR strength... The EUR is also under pressure against all other majors - looks like even more pressure than DXY and hence EU has closed lower 3 days in a row. The lack of price trend on EU last 3 days is EUR and USD are both getting sold off in all markets... All things considered between both of them - USD still has a stronger fundamental basis to it and this...
I rather buy the cable than eur/usd as eurgbp has resumed its bearish run till atleast it hits 0.8620 again. but i wouldnt want to short this pair either until dxy finds proper support (as eur contributes more than 50% to the dollar index) with bullish evidence. I do agree that EUR is really weak but so is the dollar.
  • #79,573
  • Feb 24, 2019 8:05am Feb 24, 2019 8:05am
Quoting groper
{quote} Why is the close bullish? the only bullish reason i see is that we have a green weekly candle close, i cant see anything beyond that thats bullish... bulls have failed to follow through on the move from high 12s... now i see indecision with 3 daily dojis and a rejection of every attempt at 1370 and the dojis getting slightly lower each time - if anything i see indecision but with the bears having slightly more conviction... next week could see a move lower because of this, then all the US data will come into play and prices will move based...

Similar sentiments. I would want to short around 1.1340/1.1350 if price gets there during Asian/London session and if price closes bearish on the day then it reaffirms my short bias for the week.
You hesitate, you masturbate.
  • #79,574
  • Feb 24, 2019 8:10am Feb 24, 2019 8:10am
Quoting groper
{quote} I agree the DXY is under pressure and im also watching the descending resistance line keeping a lid on it. However i dont think we should confuse broad based USD weakness (dxy) with EUR strength...
Interesting.....see here.
Christabelle means beautiful. I'm here to chit-chat and eat cotton candy.
  • #79,575
  • Feb 24, 2019 8:52am Feb 24, 2019 8:52am
I am new to this form.Holding Euro usd shorts at 1.128 and 1.133 with SL 1.14 ., any suggestion regarding it?
  • #79,576
  • Feb 24, 2019 8:52am Feb 24, 2019 8:52am
Hello boys and girls!

Anyone else with the same vision as I for this week?

(I'm always watching, but it's the first time I post on this topic).

PLAN A:
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PLAN B:
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Fortis Fortuna Adiuvat...
  • #79,577
  • Edited 9:36am Feb 24, 2019 9:15am | Edited 9:36am
Quoting engweijie
{quote} Similar sentiments. I would want to short around 1.1340/1.1350 if price gets there during Asian/London session and if price closes bearish on the day then it reaffirms my short bias for the week.
You could be right ,,use a tight stop at 1340 this time around tho ,,may not stop till about 1376 for a breather,,time will tell bud ,, hope ya had a great week end ( side note ,, havent looked but will ,,dxy more than likely just backwards of tht with a few bear flags )
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Yea ,, it was go figure ay ,,,, cheers bud ,,we will know soon
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  • #79,578
  • Feb 24, 2019 9:34am Feb 24, 2019 9:34am
Happy weekend guys, this week will be bearish but monday will be bullish.. watch out for 1.1350 area
Risk comes from not knowing what to do
  • #79,579
  • Feb 24, 2019 10:13am Feb 24, 2019 10:13am
The German/US 2 year bond yield spread has narrowed the last few weeks suggesting EUR/USD will rise. Fundamentally there are problems/uncertainties with both economies but the US is in a stronger position and general expectation will remain so this year.Is it because with risk of recession the USD rate differential can fall further than EUR which is essentially 0. How much weight do you give bond yields in predicting fx direction. Should you use it only as a rough guide ?Or just because the USD 2 yr yield is falling narrowing the spread dosent mean anything.thanks
  • #79,580
  • Feb 24, 2019 3:47pm Feb 24, 2019 3:47pm
Quoting pipapolis
The German/US 2 year bond yield spread has narrowed the last few weeks suggesting EUR/USD will rise. Fundamentally there are problems/uncertainties with both economies but the US is in a stronger position and general expectation will remain so this year.Is it because with risk of recession the USD rate differential can fall further than EUR which is essentially 0. How much weight do you give bond yields in predicting fx direction. Should you use it only as a rough guide ?Or just because the USD 2 yr yield is falling narrowing the spread dosent mean...
a tighter spread should favor the eur

but that's just from a fundamental point of view

the technical side could favor eur longs even more , but it must close and stay above 1.14xx imho
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