EURUSD

EUR/USD (1.5675)
European & US sessions forecast levels: 1.5560/1.5810
Trend Sessions: European: Upward
US: Neutral/Upward
Market Focus: 8:30 AM Non-farm Payrolls, Unemployment Rate, Hourly Earnings, Average Workweek, 1:45 AM French Government Budget Balance, 5:00 AM German Factory Orders.
Daily Strategy: After the strong movements from yesterday the dollar is again under new pressure due too the expecting poor US non-farm payrolls and unemployment rate. There are many buyers ready to buy euro against the dollar at the levels of 1.55. For today the dollar can fall to levels of 1.5760/70 the key news before. If the reports are worse than the forecast we can see levels of 1.58. The trading strategy today is opening long positions, as buy on dips.

P/S : nice short for rite now...so my TP at 1.55.++ and then standby for buy to nite

I love your quote Ultraman.
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Hello everyone. I've been trading Forex Euro/USD since late November. I discovered these forums about a month ago and have been reading your discussions most everyday. I just wanted to say an offical hello.

I just have an observation... after reading your posts for a few months now i noticed that there was a general consensus about market direction andthe focus of discusions was more about timing. Lately now it seems like there's a lot more disagreement about market direction in this forum.

I"m no technical analyst, but it seems to me like there's also a lot of indicators currently giving polar opposite directions. It also seems like there's no consensus among the forum here. Psychologically, i wonder if that's what's currently happening in the market as a whole. The market doesn't seem to know where it's going.

I could be wrong but, everyone already knows the dollar is in bad shape. I don't see negative news having any really big impact on the price cause it's already factored in. However, 1 or 2 really good reports in favor of the dollar could really push the euro down in big way cause no one is really expecting that.

It seems to me like it's a good time to practice risk management and be a little more guarded with your trades.

One question - didn't the adp non-farm payroll report earlier this week seem to indicate a lot of unexpected strength for the dollar, and does that suggest the today's non-farm payroll is going to be strong for the dollar?


Nice to meet you all.

[quote=jshaw5000;1936136]
One question - didn't the adp non-farm payroll report earlier this week seem to indicate a lot of unexpected strength for the dollar, and does that suggest the today's non-farm payroll is going to be strong for the dollar?
quote]
hello to u too,...i hope it will be dolar something, i hate this nonmoving market...just bring it on...i hope to see dolar collapse, and carries to drop as shit...others?

if this pic is true then target for euro would be 1.7000, what do the rest of you make of it.

now looking at it closer

ne 1 can explain what just happened?

The market says................. SIKE!!!


I sure got took on that one.

Poor $ news, worse than expected, and where is it going now? Who the heck knows. I DO!

despite the news(technicals RULE!) the price is following a technical path. ( I just don't know what that path is on intraday level.) But over all trend is topping out and getting ready for major reversal. Not today or maybe not next week. But if that news cann't make eur$ test the highs, then its a sure sign of strengthening $.

I am done for today.

I'm sitting here wondering the same thing... I thought there would be more movement this morning... 3 reports...

News spike. Thats all it is. Happens all the time. Catch the points right top & bottom you can make quick money. Catch them wrong and your account can go to zero faster than you can blink.

WHAT a weird market...
dollar should loose value. but somehow its being manipulated by banks and fed i guess.

Long from 1.5669 and stil holding.
it was 1.5770 and did not get out.. damn greed.

Anyway. when dow opens we will see what happens.

WATCH OUT 200 SMA at 5 min chart...

[quote=Fx_Genius;1936512]News spike. Thats all it is. Happens all the time. Catch the points right top & bottom you can make quick money. Catch them wrong and your account can go to zero faster than you can blink.[/quot

My understanding about news spike is

1. After the initial spike, it will retrace to fill the gap. after 5-30 min
2. It will resume toward the spike direction afterward > 30 min


but today is crazy.... well its NFP if its not crazy then its not NFP..

technically speaking EU still in up trend too...

it is interesting... yes...
let's see how it goes...
people just get used to bad numbers and then it doesn't react as the first time they see a bad number. it is curious.

im in short..but don't know where the excatlly TP i should put..
other how ur TP

hahaa, i got a nice explaination for how usd behaves: as soon as everything spiked there were so many ppl losing their accounts to their brokers that this strenghtened the usd (since most of the accounts are counted in usd).
but somehow i dont think this is what trichet meant with risks of high volatility :

:

My patience has paid off. I set a buy limit order for 1.5705 last night because I sleep during London session. Got a nice entry and news has had no real effect. When I started this post I was up 30 pips. Now down to 15, but I expect some choppiness. Riding the uptrend for now.

I think the good $ news earlier this week has the market preparing for a possible rebound. Mixed together with negative news for EU and $, the market is very confused (as seen in the general direction statements on this forum and others). EuroZone is expecting an economic slowdown, in my opinion, since it typically lags behind the US by 6 months or so. Therefore, a lot of people are waiting for sell rally on EU, which is being postponed by very negative US$ news today... Waiting for clearer signals, but I am thinking that EU is going down in the near future. Any other input is greatly appreciated.

Took half my profit at 1.4750 because I have a 38.2 fib at 1.5752. moved my s/l to break even. Now I have a free trade to see how far it goes. I don't need to speculate on future direction right now. Just watching the charts to see current trend.

yes... the market is very confused... and there is high volatility....
Scalper traders are making the millions this year.
That's why I'm putting my efforts this year to learn to scalp.