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  • #3,221
  • Dec 12, 2007 10:37pm Dec 12, 2007 10:37pm
Quoting th_ngue21

Why do you think the Euro can reach 1.500 ??

I dont think that big boys are waiting for that.
Hi, I agree with u i think all big boys just "standby mode" and prefer to prepare themself by collecting more dollar to anticipate higher production cost next year esp. oil price. If Euro reach 1.5 i think that just a big speculation to get more profit and it would be temporary.the point is what they need right now.
  • #3,222
  • Dec 13, 2007 12:40am Dec 13, 2007 12:40am
Quoting opie999
You my be right, attrium.

Head and shoulders, anyone?
I agree . I might be wrong in what i see is that the is a lot of resitance in the 4720 - 35 area.
  • #3,223
  • Dec 13, 2007 12:48am Dec 13, 2007 12:48am
Karma: 0 My take on EUR is the following:
I see two upward sloping support lines on the daily:

The first support is an extreme line that connects the lowest point of the shadows with these two points Aug 16 low @1.3358 connected with Sep 04 [color=#0000ff][email protected].[/color] Euro bounced of this support on Dec 06 low @1.4525

The second support is one connecting the lows of the bodies from Oct 09 green body low @ 1.4044 (open price) and Oct 23 green body low @ 1.4176 (open price). This line was penetrated on Dec 06, but since bounced from it a few times.

At the moment on a shorter term view I think it must first break the resistance at 1.4750-65 to move north. Alternatively if it breaks below 1.4600 it wil test the previous lows. In a nutshell I am convinced that a breakout is emminent!!!
  • #3,224
  • Edited 5:30am Dec 13, 2007 5:07am | Edited 5:30am
Hello.
I am posting nice head and shoulders on 1h chart in combination with Elliott wave.

You can see the big H&S with the small H&S on the right side. I f i combinate this with ellitott, then we can expect 5 smalll wave up to conclude big wave B.
I will go in to the buy position when the upper trend line will be brake, around 1,4747. Nice trading, more pairs you can check here.

EUR/USD 1h chart
Attached Image (click to enlarge)
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  • #3,225
  • Dec 13, 2007 9:29am Dec 13, 2007 9:29am
Quoting Lifesong
In a nutshell I am convinced that a breakout is emminent!!!
Definitely, but which way ....
  • #3,226
  • Dec 13, 2007 9:36am Dec 13, 2007 9:36am
Should bounce off the trendline
Patience + Humility + Study = Success
  • #3,227
  • Dec 13, 2007 9:43am Dec 13, 2007 9:43am
fibo touched and rejected, going up up up up up..!!!!!!

euro is fundamentally stronger than usd.
i am buying.
  • #3,228
  • Dec 13, 2007 9:52am Dec 13, 2007 9:52am
Quoting acidguy
fibo touched and rejected, going up up up up up..!!!!!!

euro is fundamentally stronger than usd.
i am buying.

I see a downtrend. I think I am bullish dollar next week.
Trainee at UBS Investment Banking
  • #3,229
  • Dec 13, 2007 9:54am Dec 13, 2007 9:54am
Looks like the big boys don't have enough merchandise to go higher just yet. Nice how they can slam the price down by 150 pips, forcing more selling. My guess is that the average Joe didn't drive prices that much lower. So what are they up to...obviously the euro is stronger than the dollar...so why so many sharp drops...I call it "accumulation". Too many buyers in the wings, "they" can't go higher when everyone is bullish.
  • #3,230
  • Dec 13, 2007 10:12am Dec 13, 2007 10:12am
Quoting FXNorm
Looks like the big boys don't have enough merchandise to go higher just yet. Nice how they can slam the price down by 150 pips, forcing more selling. My guess is that the average Joe didn't drive prices that much lower. So what are they up to...obviously the euro is stronger than the dollar...so why so many sharp drops...I call it "accumulation". Too many buyers in the wings, "they" can't go higher when everyone is bullish.
Gotta go to lower levels to pick up the retail crowd
Patience + Humility + Study = Success
  • #3,231
  • Dec 13, 2007 10:31am Dec 13, 2007 10:31am
it seems very strange too many. Two rate cuts and even more to come, not so good US-economy, and with all this the dollar is getting stronger.

Either the economy 101 have changed or something is smelly...
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #3,232
  • Dec 13, 2007 10:35am Dec 13, 2007 10:35am
Quoting semar
it seems very strange too many. Two rate cuts and even more to come, not so good US-economy, and with all this the dollar is getting stronger.

Either the economy 101 have changed or something is smelly...
True. It must be a needed correction before a move back up. The US is not out of the woods economically.
  • #3,233
  • Dec 13, 2007 10:44am Dec 13, 2007 10:44am
Damn, it's taking a plunge ... I hope it bounces back up hard and strong ...
  • #3,234
  • Dec 13, 2007 10:46am Dec 13, 2007 10:46am
Maybe they want to make you believe that the reversal is about to begin and when you start selling the euro, the big boys find it as a good price to go long till the 1.5 target reached...
  • #3,235
  • Dec 13, 2007 10:47am Dec 13, 2007 10:47am
Quoting Schminner
Damn, it's taking a plunge ... I hope it bounces back up hard and strong ...
The question is how far down? We may see 1.4530 again. If we do and get a bounce, I'm buying there.
  • #3,236
  • Dec 13, 2007 12:56pm Dec 13, 2007 12:56pm
Quoting falcon232
The question is how far down? We may see 1.4530 again. If we do and get a bounce, I'm buying there.
I'm with you on that one. This corrective trend isn't over yet. There may be some choppy moves, but those will be pretty arbitrary. Overall volume in dec. is thin, so big transactions cause larger spikes.

But I'm skittish about waiting for 1.4530, might not get that far. Let's see what reaction CPI will cause.
  • #3,237
  • Dec 13, 2007 1:04pm Dec 13, 2007 1:04pm
The symmetry of the head and shoulders is amazing! Price is about 100 pips away from breaking below the neckline. I can imagine how many stops
are just below and the dbl bottom at 1.4525. A break of that neckline leaves the 38.2 fib level...after that would be 50% fib at 1.4150. The only saving grace is, price hasn't retraced more than 600 pips in the last 2 years.
I bet the big boys are eyeing that neckline at 1.4525...should be interesting. If they can drive the price below the neckline, they'll need several bathtubs to carry all the contracts away when they trigger all those stops.
  • #3,238
  • Dec 13, 2007 1:41pm Dec 13, 2007 1:41pm
Quoting FXNorm
The symmetry of the head and shoulders is amazing! Price is about 100 pips away from breaking below the neckline. I can imagine how many stops
are just below and the dbl bottom at 1.4525. A break of that neckline leaves the 38.2 fib level...after that would be 50% fib at 1.4150. The only saving grace is, price hasn't retraced more than 600 pips in the last 2 years.
I bet the big boys are eyeing that neckline at 1.4525...should be interesting. If they can drive the price below the neckline, they'll need several bathtubs to carry all the contracts away when they trigger all those stops.
I like your way of analyzing this but would you please be kind enough to put it on a chart it may be easier for an inexperienced trader like myself

Thank You..
  • #3,239
  • Dec 13, 2007 2:24pm Dec 13, 2007 2:24pm
Quoting semar
it seems very strange too many. Two rate cuts and even more to come, not so good US-economy, and with all this the dollar is getting stronger.

Either the economy 101 have changed or something is smelly...

I have not enough experience but yes the smell is bad ..
  • #3,240
  • Dec 13, 2007 2:46pm Dec 13, 2007 2:46pm
Quoting WARaintOVER
I have not enough experience but yes the smell is bad ..
Did someone farted ???
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