EURUSD

i agree that

Amazingly, how such a little movement showing pair like Euro is Yo-yoing past minutes. It's the heaven for scalpers

A possible descending triangle is occuring on the 15 min and 1 hour charts.

It's consolidating around the 100 day MA ahead of 1.3600, and trading within a pretty narrow ~15 point range.

One interesting fact to consider is the USD/JPY - EUR/USD correlation since about the 2nd week of August, probably due to the carry sell-off being more pronounced in EUR/JPY than in USD/JPY. Although the yield is lower, the Eurozone fundamental picture looks more promising and ECB is still in a tightening cycle so many carry traders favored EUR over USD as their yield currency. The reverse was true when the sell-off was at its peak, and now the original picture is starting to re-establish itself with EUR gaining ground against USD. It is also interesting to see that GBP suffered even more than EUR because the fundamentals there are equally strong, but with a still higher yield. As you can see EUR/GBP gained momentum all the way up to the weekly trendline as the carry trade was selling off but has now backed away. In fact, the only reason I entered EUR/USD long instead of GBP/USD long was because of technicals (at the height of the sell-off, GBP/USD actually pierced the weekly trendline to the downside, while EUR/USD did not). Just something to consider.

Is this the impact of the GBP news or what have just made Euro go up and reach the psyhological resistense level 1,36?

I like to see 1.3666<>61 taken ..

The news are against the Euro but I wonder why it's going up... The US economy is showing some stabilization right now but the market still don't take a s$#@

I'll be looking for a short at 1.3666, which could takes down to 1.3200 next week.

A >400 point drop next week? That's asking an awful lot of the market.

Could takes us lower, it all depends about next week. I still believe a top is in play here.

http://www.forexfactory.com/showpost...postcount=2416

I am surprised at how quickly that previous chart became realized, but I think if the top is in, it could take months or years to see your current chart above fulfilled.

The level is just one part of my pattern from low 13366. an r/r level. how good it is I dont know

i got in long at around 1.34, cause of obvious candle patterns. Screw the news, I trade by what I see, and right now it just doesn't make sense

You are absolutely correct the news became useless. No matter how good or bad the data is, it doesn't move the market. If it moves a little, you cannot just get in and out with the few pips in your pocket because to trade the news became extremely difficult. I guess just the pros can ride the economical news without hurting the account

Have a great weekend

Now eurusd rallies at 1.3673. I favor short trade at this price. It is a bit above the 0.618 of the fib from the downtrend from Aug 6 to Aug 16. It should be some retracement even if it will go up again. But now it is almost the close of the market, maybe I should stay away?

Hmm, if EUR/USD can close above the 1.3660 figure, then it may prove to be an excellent support for a move upwards towards yearly highs of 1.3850 next week.

EURUSD managed to closed above 61.8 FIB level. That is a bullish sign, however I won't go long here. RSI 4hours is 80, you might want to try dip buying using tight stop. I am not convinced that the downtrend is over.

GBPUSD, and AUDUSD also closed high but didn't break important fib 61.8 which euro violated. So I am sitting on sidelines.

ill just let profits run, tp 1.41-1.42...i will also bought au,gbp,nzd/jpy and cable some more, i think the levels we see now we wont be seeing fo some time, if ever.

don't be so sure