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EURUSD - From Here to There

  • #41
  • Mar 8, 2020 6:02pm Mar 8, 2020 6:02pm
Can see a rally up to the ~1.4200 level occuring followed by a retracement back down to the 1.2500 support level.
https://www.tradingview.com/x/5A5EM0Vd/
  • #42
  • Mar 8, 2020 7:11pm Mar 8, 2020 7:11pm
Quoting OnlineAddict
{quote} But a lot of time until thursday...the current EU growth is too fast to try short it before then. If it goes up until thursday, it may be a very good short.
I am hoping this is the case!
  • #43
  • Mar 8, 2020 7:51pm Mar 8, 2020 7:51pm
Quoting here2there
This might not be anything new to other traders who have been trading longer than I have, but I have never seen anything like this before. Wrath has taken hold of USD and is furiously shaking the life out of it.
I said here
https://www.forexfactory.com/showthr...9#post12793919
and I also said a complete unwind will send it to 1.17 which I do not think happen.
  • #44
  • Mar 8, 2020 7:56pm Mar 8, 2020 7:56pm
Quoting BWilliam
Hi here2there, we all have seen members post plenty of historic trades. Any fool can be successful doing that. Make it a compulsory requirement that trades has to have entry as close to current price showing entry, sl and tp. This simple rule will make your thread the best on FF, the rest are fakes to fool people.
trade is personal. it is up to poster what s/he wants to disclose about her/his trade......take it as is or ignore it.
  • #45
  • Mar 8, 2020 8:02pm Mar 8, 2020 8:02pm
Quoting arash66110
{quote} I said here https://www.forexfactory.com/showthr...9#post12793919 and I also said a complete unwind will send it to 1.17 which I do not think happen.
I understand. But what you said there does not take anything away from the fact I have not experienced such market conditions before in Forex. USD is apparently crashing with the stock market. The coronavirus has thrown everything out of balance. The market has become completely irrational.

And the guy you linked to didn't know any better either, unless he is an insider, which I know he is not. I purchased his course years ago and am familiar with his trading style.

Nobody could have known things would have turned out like this unless they are insiders. And it's only going to get worse now that there is a major issue with oil. But that is a different topic, and I don't want to violate my own rules for this thread.
Learn from your mistakes and march on.
  • #46
  • Mar 8, 2020 8:33pm Mar 8, 2020 8:33pm
Its still riding the trend up on the 1H etc. As long as the overall markets are tanking...and most everything else...EU appears to be one of the the long position to hold.
  • #47
  • Mar 8, 2020 8:41pm Mar 8, 2020 8:41pm
Quoting here2there
{quote} I understand. But what you said there does not take anything away from the fact I have not experienced such market conditions before in Forex. USD is apparently crashing with the stock market. The coronavirus has thrown everything out of balance. The market has become completely irrational. And the guy you linked to didn't know any better either, unless he is an insider, which I know he is not. I purchased his course years ago and am familiar with his trading style. Nobody could have known things would have turned out like this unless they...
I remember listening to an analyst on CNBC saying the Euro was going to rise in all of this over a week ago. I am there going...ya right. I think if one understood the size of the carry trade in Euro then one might have understood. I sure as hell didn't.

Yes Bank failed in India. Huge property bubbles in various countries. The debt bomb is now waiting in the wings. Sh*t can potentially get really real here.
  • #48
  • Mar 8, 2020 8:49pm Mar 8, 2020 8:49pm
Sorry folks, but that major area of support I spoke of earlier doesn't appear to be stopping this train wreck!

Next stop for USD is 95.34 to 95.03

Will USD hold up? I don't know. It's looking grim!

Attached Image (click to enlarge)
Click to Enlarge Name: dollar crash.png Size: 94 KB
Learn from your mistakes and march on.
  • #49
  • Mar 8, 2020 8:55pm Mar 8, 2020 8:55pm
Quoting enarco
{quote} I remember listening to an analyst on CNBC saying the Euro was going to rise in all of this over a week ago. I am there going...ya right. I think if one understood the size of the carry trade in Euro then one might have understood. I sure as hell didn't. Yes Bank failed in India. Huge property bubbles in various countries. The debt bomb is now waiting in the wings. Sh*t can potentially get really real here.
It's a very sad situation. Most people don't see it on the charts like we do because they don't trade. They have no idea how bad things really are at the moment! And the mainstream media isn't helping matters with their daily dose of fear mongering scripts.
Learn from your mistakes and march on.
  • #50
  • Mar 8, 2020 9:01pm Mar 8, 2020 9:01pm
Quoting here2there
{quote} It's a very sad situation. Most people don't see it on the charts like we do because they don't trade. They have no idea how bad things really are at the moment! And the mainstream media isn't helping matters with their daily dose of fear mongering scripts.
Its always the same however. When things go bad in the markets they always go BAD!! Nothing will change that. Just have to trade it. CNBC is on it ever day as well. MARKET CRASHES ...on the updates. Every day. Its beauty for the shorts. It is what it is. Every time.
  • #51
  • Mar 8, 2020 9:04pm Mar 8, 2020 9:04pm
Looks like recession in Asia.
  • #52
  • Mar 8, 2020 9:15pm Mar 8, 2020 9:15pm
Until this virus issue gets resolved, EUR is up USD down, and some other currencies going down, but some like GBPNZD are going up, USDCAD up.

Take a look at this, Italy quarantines 16 million people because of this virus.

https://www.bbc.com/news/world-middle-east-51787238
  • #53
  • Mar 8, 2020 9:17pm Mar 8, 2020 9:17pm
Quoting Techanalyst
Until this virus issue gets resolved, EUR is up USD down, and some other currencies going down, but some like GBPNZD are going up, USDCAD up. Take a look at this, Italy quarantines 16 million people because of this virus. https://www.bbc.com/news/world-middle-east-51787238
Actually it's either resolve the virus or rate cut which is anticipated to happen Thursday.
  • #54
  • Mar 8, 2020 9:20pm Mar 8, 2020 9:20pm
Quoting investing101
{quote} Actually it's either resolve the virus or rate cut which is anticipated to happen Thursday.
True, but I am not just talking about EUR, I am talking about Asia economy too. Asia is in recession, but this is impacting the whole world as we can see.
  • #55
  • Mar 8, 2020 9:31pm Mar 8, 2020 9:31pm
Quoting Techanalyst
{quote} True, but I am not just talking about EUR, I am talking about Asia economy too. Asia is in recession, but this is impacting the whole world as we can see.
UJ dropped 3% with NO bounce. Well not so far.
  • #56
  • Mar 8, 2020 11:35pm Mar 8, 2020 11:35pm
Quoting enarco
{quote} UJ dropped 3% with NO bounce. Well not so far.
USDCAD going up.
  • #57
  • Mar 9, 2020 12:04am Mar 9, 2020 12:04am
Quoting Techanalyst
{quote} USDCAD going up.
Well, that's off topic. Remember, this is a EURUSD thread.

Having said that, you better be careful going long on USDCAD, as it has a huge gap and is on its way down.
Learn from your mistakes and march on.
  • #58
  • Mar 9, 2020 12:14am Mar 9, 2020 12:14am
If anyone is thinking about going long on EURUSD at this time, you better be very careful. The same goes for anyone thinking about shorting it. This pair is highly volatile at the moment and unpredictable. In other words, it's high risk, and therefore, unsafe.
Learn from your mistakes and march on.
  • #59
  • Mar 9, 2020 12:59am Mar 9, 2020 12:59am
It appears EURUSD is finished having its temper tantrum.

It's not safe to go long at this point in my opinion. And even though the Daily candle is starting to look bearish with that long upper wick, going short is still risky. Remember, the Daily candle still hasn't closed. Anything can happen.

Having said that, I think it would be wise to wait and see how the Daily candle closes before making any decision to enter a trade. It's my guess we will start to see some consolidation or perhaps more fireworks.

By the way, those broken blue lines you see on the chart represent the area where stop hunting took place.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Gone Mad.png Size: 18 KB
Learn from your mistakes and march on.
  • #60
  • Mar 9, 2020 2:40am Mar 9, 2020 2:40am
USD just keeps falling deeper into despair. There is no relief. And I fear it will only get worse.

There is no sense in trying to do technical analysis on this pair under such ridiculous circumstances.
Learn from your mistakes and march on.
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