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EURUSD

  • #2,301
  • Aug 13, 2007 8:41am Aug 13, 2007 8:41am
EU looking at 3500
  • #2,302
  • Aug 13, 2007 12:10pm Aug 13, 2007 12:10pm
Quoting Falcon eye
EU looking at 3500
It looks like EUR/USD did not break the 1.3730 area. Currently trading at 1.3620. I believe there is possible support in this area (July 27ish low daily charts). If it is broken, could there be a possible test to the 1.3550 area (July 2nd low daily charts)???
"Don't work for your money, but let money work for you."
  • #2,303
  • Aug 13, 2007 12:43pm Aug 13, 2007 12:43pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting chady250
It looks like EUR/USD did not break the 1.3730 area. Currently trading at 1.3620. I believe there is possible support in this area (July 27ish low daily charts). If it is broken, could there be a possible test to the 1.3550 area (July 2nd low daily charts)???

Dailyfx think lower

Sructure for the pair looking heavy with deeper setbacks seen over the coming days. Daily techs reveal a double top that has just triggered Monday with the break below the July 30 low by 1.3608. A medium-term top by 1.3853 now looks to be firmly in place with projected setbacks now seen towards a measured 1.3370. (JK) 17:10 GMT
end

and my charts are giving me 1.33++ area. so I'm hoping for a 1.3400 and a buy at 1.3450.

hope this helps
  • #2,304
  • Aug 13, 2007 2:59pm Aug 13, 2007 2:59pm
I long since Thursday, hoping that the trend will continue in the upline direction; unfortunately the trend turned around and since then it was downline as regard my LONG. I was not around during the weekend through Friday, only to come back and discovered that the trend is far down the point I LONG. I took "tp" but it was against the decision. Now its far downline. I LONG at 1.3741. now its 1.3609. What do you think I can do? Should I close at the this huge loss point or I should wait for the trend to come upline, and for how long?
  • #2,305
  • Aug 13, 2007 3:22pm Aug 13, 2007 3:22pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting kamaluddeena
I long since Thursday, hoping that the trend will continue in the upline direction; unfortunately the trend turned around and since then it was downline as regard my LONG. I was not around during the weekend through Friday, only to come back and discovered that the trend is far down the point I LONG. I took "tp" but it was against the decision. Now its far downline. I LONG at 1.3741. now its 1.3609. What do you think I can do? Should I close at the this huge loss point or I should wait for the trend to come upline, and for how long?

how big is your bank balance, there is many views about how far this could drop, my MM would have had a Stoplose in somewhere between 50 and 100pips.

personnally i would close the trade, read jacko's journal http://www.forexfactory.com/showthre...t=27286&page=1 and pick the trade back up on the return to the uptrend. I have made the same mistake as you in the past, holding the position will simlpy limit your abillity to make further trades.

this is only my view, but i try to trade with the trend.

good luck and I hope someone else will also give you there views as i am still in year one of trading. they may feel this is the bottom and the uptrend will be back tomorrow.

best of luck and happy trading

regards

MPP
  • #2,306
  • Aug 13, 2007 4:00pm Aug 13, 2007 4:00pm
This is a daily chart. Price is closing below the trendline and looking to break the 23% fib level.
Attached Image (click to enlarge)
Click to Enlarge Name: EURO DAILY.jpg Size: 68 KB
  • #2,307
  • Aug 13, 2007 7:50pm Aug 13, 2007 7:50pm
Quoting kamaluddeena
I long since Thursday, hoping that the trend will continue in the upline direction; unfortunately the trend turned around and since then it was downline as regard my LONG. I was not around during the weekend through Friday, only to come back and discovered that the trend is far down the point I LONG. I took "tp" but it was against the decision. Now its far downline. I LONG at 1.3741. now its 1.3609. What do you think I can do? Should I close at the this huge loss point or I should wait for the trend to come upline, and for how long?
If you close the position, it will free up your capital to open other trades, but hurts to take the loss ... http://www.forexfactory.com/images/icons/icon10.gif
  • #2,308
  • Aug 13, 2007 8:42pm Aug 13, 2007 8:42pm
Quoting MPP
Dailyfx think lower

Sructure for the pair looking heavy with deeper setbacks seen over the coming days. Daily techs reveal a double top that has just triggered Monday with the break below the July 30 low by 1.3608. A medium-term top by 1.3853 now looks to be firmly in place with projected setbacks now seen towards a measured 1.3370. (JK) 17:10 GMT
end

and my charts are giving me 1.33++ area. so I'm hoping for a 1.3400 and a buy at 1.3450.

hope this helps
True to that!!! The double top sure is going to have a critical impact towards the declination of EUR/USD. I have a question outside of technical analysis, I am a trader in Hawaii and we are going to be going through a stage 4 hurricane within the next 24 hours, does anyone know if there will be an impact towards the currency market with this impact???
"Don't work for your money, but let money work for you."
  • #2,309
  • Aug 13, 2007 11:10pm Aug 13, 2007 11:10pm
EURUSD

EURUSD broke below 1.3609 previous low. Further fall towards 1.3550 to reach the next cycle bottom on 4 hours chart is still possible later today. Near term resistance is at 1.3710, as long as this resistance holds, down trend will continue.
If I Go Broke Trying Then I Will die happy.
  • #2,310
  • Aug 14, 2007 1:47am Aug 14, 2007 1:47am
Short EUR/USD at 1.3625 target 1.3570 sl 1.3640

Anyone in the same boat?
  • #2,311
  • Aug 14, 2007 2:05am Aug 14, 2007 2:05am
Euro just tanked past 600...likely to see another 50 pips drop to complete avg range.
  • #2,312
  • Aug 14, 2007 2:13am Aug 14, 2007 2:13am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting chady250
True to that!!! The double top sure is going to have a critical impact towards the declination of EUR/USD. I have a question outside of technical analysis, I am a trader in Hawaii and we are going to be going through a stage 4 hurricane within the next 24 hours, does anyone know if there will be an impact towards the currency market with this impact???

The governments don't seem to be able to affect it so maybe nature will.

More serious reply, would most likely depend on cost of damage and damage to industry. you only have to look at the recent UK floods to find that this has minimal effect yet the foot and mouth issue created concern.

you probably won't know until after. i have traded tech and what ever has happen recently still seems t fit inside the tech moves.

happy trading

MPP
  • #2,313
  • Aug 14, 2007 2:25am Aug 14, 2007 2:25am
We have a swing that created a lower top.
Support line at 600 looks less likely to hold.

i'll be preparing shorts if the daily bar closes red and below 600.

http://www.divshare.com/img/thumb/1580565-d02.jpg
  • #2,314
  • Aug 14, 2007 2:30am Aug 14, 2007 2:30am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
i'm trading of the 4H and went short on the confirmation of the fib at 1.3625.
trailing stop, lets see how far this can go, looking to see 1.34ish
  • #2,315
  • Aug 14, 2007 2:39am Aug 14, 2007 2:39am
I would look if 1.3560-1.3570 holds as support, if it holds I am loading up my longs. I still believe the major uptrend is intact as long as 1.3560 holds and what we are seeing is just a retracement. From fundamentals nothing really changed to cause a change in the trend.

But what do I know? Everything is possible.
  • #2,316
  • Aug 14, 2007 3:58am Aug 14, 2007 3:58am
The up trend is still domitaning notwithstanding that for the last two week Euro is falling down. It may bounce up from 50% or 61,8% Fibonacci levels. Also, EUR/USD pair may find support at main trend lines near round number ~1,3500.
Attached Image (click to enlarge)
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  • #2,317
  • Aug 14, 2007 4:45am Aug 14, 2007 4:45am
Long E/U at 1.3575 SL 1.3545 first target 1.3700
  • #2,318
  • Aug 14, 2007 4:52am Aug 14, 2007 4:52am
Indecisive for now....
  • #2,319
  • Aug 14, 2007 6:48am Aug 14, 2007 6:48am
I am a Cornflower trader with a LARGE dose of Jacko thrown in. So far Cornflower has the Euro pointing South.
  • #2,320
  • Aug 14, 2007 8:20am Aug 14, 2007 8:20am
Quoting IRISH37
I am a Cornflower trader with a LARGE dose of Jacko thrown in. So far Cornflower has the Euro pointing South.
I am with you on that I also use felicias method along with bagovino,and the guppy,south it is!!!!!!!!1
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