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  • #3,181
  • Dec 10, 2007 5:45pm Dec 10, 2007 5:45pm
Quoting th_ngue21
I am already out the market and have a nice +210 pips in my pocket

I expect tomorrow low volatilty on the EUR/USD before the FOMC announcement. After that, I look for a long or short entry. I hope Mr. Ben Bernanke wont cut the rates. Thats good for the dollar and good for me.

I'm holding onto my longterm EUR longs. Even if it's only a 25 pt cut, I still see 1.5 within a couple weeks.
  • #3,182
  • Dec 11, 2007 6:24am Dec 11, 2007 6:24am
Please share your views about the falling euro ? will it break through 1.4664 support or is it appropriate to go long because of an undervalued euro ?
  • #3,183
  • Dec 11, 2007 6:33am Dec 11, 2007 6:33am
As long as 1.4600 level holds, supported by 61.8 Fibo @ 1.4611 (1.4525 to 1.4750) then we'll see new highs >1.5000
  • #3,184
  • Dec 11, 2007 11:58am Dec 11, 2007 11:58am
Lifesong, falcon, I agree...

...and once we break 1.5, expect an easy 300-400 pip break out past that.
  • #3,185
  • Dec 11, 2007 12:27pm Dec 11, 2007 12:27pm
Quoting rudenstein
Lifesong, falcon, I agree...

...and once we break 1.5, expect an easy 300-400 pip break out past that.
That's if it ever breaks/touches the elusive 1.5 ...
  • #3,186
  • Dec 11, 2007 2:33pm Dec 11, 2007 2:33pm
That sux, I should had hedged or closed my long positions before the news ... oh well, that's the price for letting it ride ...
  • #3,187
  • Dec 11, 2007 2:44pm Dec 11, 2007 2:44pm
I Have A Problem. If You Can Help Thank You.

The Proble Is Fxcm Is Showing A Drop To 1.4654

Metatrader Is Showing Drop To 1.4634

Good Trading
  • #3,188
  • Dec 11, 2007 2:51pm Dec 11, 2007 2:51pm
North Finance went to 52. fyi
  • #3,189
  • Dec 11, 2007 2:54pm Dec 11, 2007 2:54pm
What do you think - should I get out on any quick EUR rallies, or hold into next week or later for possible continuing dollar erosion? Fundamentals do not support the selloff, making this downturn all the more irritating.
  • #3,190
  • Dec 11, 2007 3:03pm Dec 11, 2007 3:03pm
I Have To Agree Irritating.

Thanks Booker T For Info.

Seems Something Is Wrong.

But Then I Have Been Wrong Before.

Good Trading.
  • #3,191
  • Dec 11, 2007 3:05pm Dec 11, 2007 3:05pm
Quoting rudenstein
Lifesong, falcon, I agree...

...and once we break 1.5, expect an easy 300-400 pip break out past that.
We're down to 1.4650. I'm adding to my longs as we approach support.
  • #3,192
  • Dec 11, 2007 3:14pm Dec 11, 2007 3:14pm
Thanks Falcon232 For The Info.

They Must Of Heard Us.

Fxcm Took It Down To 1.4637

Good Trading
  • #3,193
  • Dec 11, 2007 4:07pm Dec 11, 2007 4:07pm
Quoting falcon232
We're down to 1.4650. I'm adding to my longs as we approach support.
What's the support level ???
  • #3,194
  • Dec 11, 2007 4:13pm Dec 11, 2007 4:13pm
Most relevant support I see is 1.4520
  • #3,195
  • Dec 11, 2007 4:15pm Dec 11, 2007 4:15pm
1.4520 will be very tough to break, even with strong US data this week.
  • #3,196
  • Dec 11, 2007 4:25pm Dec 11, 2007 4:25pm
Quoting branco
Most relevant support I see is 1.4520
God damn, I hope it does not come anywhere near that level ...

I'm hoping it will begin to pick up as of now ...
  • #3,197
  • Dec 11, 2007 4:30pm Dec 11, 2007 4:30pm
Quoting Schminner
God damn, I hope it does not come anywhere near that level ...

I'm hoping it will begin to pick up as of now ...
It will, but if it slips a little, I'm buying.
  • #3,198
  • Dec 11, 2007 10:30pm Dec 11, 2007 10:30pm
Sorry guys, but longs are not looking good right now. This line that held price earlier, is on the verge of being broken. That should lead to a re-test of the trendline. While I suspect that the trendline will also be broken, I wouldn't even think about buying until then.

Most likely is a fall down to 1.4530 and below.
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  • #3,199
  • Dec 12, 2007 5:24am Dec 12, 2007 5:24am
Zappa, which trendline that is on the verge of being broken are you referring to - 1h, 4h or daily? My current 4h trendlines are at 1.4730 top and 1.4600 bottom. My current view is a close below 1.4600 will lead to a sell-off, but as long as it holds we are heading back to 1.4750-70. In a nutshell I believe we are going to see some sideways trading for the time being!!
  • #3,200
  • Dec 12, 2007 5:52am Dec 12, 2007 5:52am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Lifesong
Zappa, which trendline that is on the verge of being broken are you referring to - 1h, 4h or daily? My current 4h trendlines are at 1.4730 top and 1.4600 bottom. My current view is a close below 1.4600 will lead to a sell-off, but as long as it holds we are heading back to 1.4750-70. In a nutshell I believe we are going to see some sideways trading for the time being!!
TL, the one shown is on a 4h chart. the problem is TL are a personnel opinion and vary according to how you place them, currntly most are looking at the 1H 4H downward move and forgetting that the EU has bounced right of a supporting Daily TL at 1.4650 for the last 5 days give or take a few pips.

4H charts and below are bearish biased, weekly and monthly are bullish biased, but the daily is now flat and could go either way, i think we will see this week out in the same 150pip zone. then everything stops for Xmas.


Just my view
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