EURUSD

I agree with you. Most people in America just want a new president. I think the dollar will strengthen based on Bush leaving alone. Numbers have not been good enough lately to cause a full on rebound, but you are right, we'll have to see. It seems like 1.5900 is the tough cookie.

The overall balance is still against the USD... 1.6000 is not a unthinkable goal... i think on 1.6200 and more... in medium term

I am with you... possibly republicans (USD stronger) or democrats (US weaker)...? ... it has influenced before, the movement of the pair... after elections...

I'm getting ready for the next move. Flag on both 30m and 1h revealing good potential targets.

Also, price is heading downward to lower part of ascending triangle on daily.

The range looks too tight for me.. at 5780-5790 area should prove considrable resistance and maybe a smal long if price is above 58 better 582 even.. Below, only below 57 feels safer for a shot toward 565.. In short, doesn't look like a good time to enter here even if price starts moving a bit..

Today was a good day for me I went short from the top and then was scalping for an hour.

Heh we are stuck at 574x.. I feel like Asian session will spike it back up.. What you guys think?

I wasn't here till the fall, scalped the rebounds for a bit easy. A rebound to 578 and then down below 57 looks possible, just guesstimating of course... and tommorow's Friday..

Trading after London and US session close is more risky, IMO, due to lower volumes. Of course, those scalping 1m chart might disagree with me :

Asia session can provide opportunities, but for me, I find it as a rare phenomenon. But I always keep 1 eye open for opportunities

LMAO Did you happen to take a look at the 1m chart recently ?

ya - a very nice scalping range of what!??? - 3-5 pips - mmmm - go for it. I'll watch the grass grow for now.

SeerEye

I must admit 1m chart is not my "thing" With that said, I have done scalping on 1m chart with price pattern, just to say " I have done it" lol. Think I'm not blessed with the brain-assets nor nerves trading that TF.

I have been a bit busy lately. I entered at 1.584 for the long move up earlier to 1.59 but had my T/P set a smidge too high. I wasn't at the computer when the news came out and subsequent drop hit my S/L. One of those "OH $&%" moments when I got back on this morning, but I was able to make it up on the ride down.

Eu has tested 3 times to 1.59 level... Now 1.5713-11 is good support, next support around 1.5652 and the Monthly pivot around 1.56 is next stop if 1.5613-11 broken..
Expecting it wil go short.. because 4h indicators downward..
Try UJ,EJ, and GU had more pips now.
GU shorts 100% winners,below 1.9715 wil bring 1.965
UJ and EJ longs.. Thats plan for upcoming hours..

hi guys hope u had a nice day trading EURUSD

anyway , tomorrow is Friday with the G7 Meeting

what do u think will happen to the Euro tomorrow during the meeting?

because i heard an opinion saying that they will try to find some way
to strengthen the dollar so the Euro may lose some ground

I really want to hear your opinions about that !!

Dr. Emad

Just Tped 25 pips in UJ, 40 pips in EJ long..
GU Stil haven't broken previous day's Low..
anyways.. done for breakfast..

Where do you get .5713 from ? Am I missing something ? As we speak, price is lurking above .5730. which is my currently support.

Well, I don't use any specific indicators for measuring if a chart is bull or bear, but looking at a plain 4h chart it doesn't look too bearish, IMO.

A close below 4h TL would prepare me for a break to the downside on daily ascending triangle, which could provide more downside.

Hi All,

New poster but have been reading everyones analysis on Euro and found them interesting and helpful. I hope I can make some useful contributions during the coming weeks.

Emadanton - I hope following might help regarding G7 meeting:-

.jwts_tabber{display:none;}Why G7 Meetings Matter http://www.actionforex.com/images/M_...rintButton.png http://www.actionforex.com/images/M_...mailButton.png Daily Forex Fundamentals | Written by DailyFX | Apr 10 08 20:40 GMT | Why G7 Meetings Matter

There is no time better than the present to recognize the dollar's weakness. With the April 11 G7 meeting of Finance Ministers and Central Bankers just days away, government officials around the world have the power to stop the dollar from falling. But will they? Over the past 30 years, G7 meetings have marked big turning points for the US dollar.
According to the following G7 chart, significant tops and bottoms have coincided with a major change in the foreign exchange language of the G7 communiqué. For example, following the Dubai meeting in 2003, the Group of Seven called for more "flexibility in exchange rates." Although this criticism was directed at China and Japan, it came on the heels of a strong dollar rally. The decline of the US dollar during the late 1980s was also halted when the Louvre Accord was signed in 1987 at the G7 Minister of Finance meeting. Even though the language in the communiqué is only changed every few years, G7 meetings matter because they have the potential to make or break the US dollar.
Whether or not the G7 meeting will matter this time around will depend upon how many members support a change in the FX language of the communiqué.
Where Do They Stand?
US - To date, the US has been reluctant to take any measures to address the dollar's decline, and will most likely not agree to take any drastic steps this Friday. The weaker dollar has helped to boost exports and provides another avenue for the US government to stimulate the otherwise ailing economy. The US government continues to pay only lip service to the strong dollar policy because they know that the path to a stronger dollar is through a weaker one.
Europe - The members of the Eurozone that are apart of the G7 (France, Germany and Italy) are not expected to officially call for dollar strength either. Up until now there has not been evidence of a significant deterioration in the Eurozone economy, but we are reminded daily of rising inflationary pressures. Therefore the finance ministers and central bank governors of these countries will continue to allow the dollar to weaken because a stronger Euro helps to reduce price growth.
Japan - Japan and its Asian neighbors have been the hardest hit by the dollar's weakness. According to government data, inflation in Japan reached a 10 year high during the month of February. Price growth in places like Vietnam are running at double digit rates while Saudi Arabia also touts the fastest inflation growth in 27 years. The rise in inflation has been due in large part by the weakness of the US dollar and these dire consequences are forcing many countries to reconsider their dollar pegs. Even China, who has received significant criticism about their artificially weak currency is now expressing concern about the falling dollar's impact on the value of their foreign exchange reserves. However Japan and its Asian neighbors alone will not be able to convince the G7 to directly address the weakness of the US dollar.
Coordination is the Only Way That It Will Work
In order for the G7 to change the language in their communiqué, the US and Eurozone countries will need to support the change. Unfortunately a turn in the US dollar at this point is not in the best interest of either parties. If the diverging monetary policy directions of the Federal Reserve or the ECB tell us anything, it is that there isn't much spirit for cooperation. With the dollar breaching the 7 Yuan mark, China has already made great inroads to strengthening its currency. Since the beginning of the year, the Yuan has appreciated 4.5 percent, compared to 7 percent growth in 2007. This gives the G7 little room to further criticize China because the problem in the world right now is not Yuan weakness but dollar weakness. One of the main reasons why inflation is reaching a record high around the world is because of the weakening dollar.
Current FX language

How to Trade the G7 Statement
Previous experience has shown that G7 statements have brought significant trend reversals or continuations for USD and JPY pairs. These dynamics leave us with several trading scenarios on different outcomes in the meeting's communiqué.
Most Likely scenario: Exchange rate commentary remains largely unchanged, with a specific mention of Chinese currency policy the only explicit mention in the G7 statement.
This outcome could lead to mild dollar weakness, but will pretty much make the G7 meeting a non-event.
Less likely scenario: Exchange rate commentary makes specific reference to US dollar weakness, with comments on China's forex policy unchanged.
This outcome would be widely dollar bullish. Not only would it trigger a meaningful top in the EUR/USD but also lead to a sharp rally in USD/JPY.
DailyFX

Dear tamster

thanks for your reply

Really Helpful and Informative article

Dr. Emad

"The Demise of the Euro"

Anyone else read that post?...

http://www.forexfactory.com/news.php?do=news&id=80660

hey Aad

that was really a scary article regarding the Euro
but i guess this is way ahead in the future . . .

what's ur opinion?

Dr. Emad