EURUSD | Page 338 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #6,741
  • Apr 17, 2008 4:08pm Apr 17, 2008 4:08pm
I don't think 1.68 is likely anytime soon.

The euro's been on an uptrend for the last 7 years so if it continues it will eventually get there, but dont hold your breath for that to happen in the next 2 weeks.. wishfull thinking though

I think we'll be waiting till next week (possibly longer) for it to even surpass 1.6.

Of note on each spike up, its retraced almost to the pip 61.8% Fib level, just an observation as mentioned earlier.

Cheers
  • #6,742
  • Apr 17, 2008 4:48pm Apr 17, 2008 4:48pm
if it continues with the momentum it's shown it will be another 45 trading days or so before 1.68. Bigger retracements will push out that target. And in the trading scheme of things, few are going to put on a trade and leave it on 'till .68 anyway. Though I will rejoice when my account would allow me to do that! With my newbie status I like the reliability of a solid up trend, I would like to see it continue - all thoughts about what that means for the nation I live in aside...
  • #6,743
  • Apr 17, 2008 6:07pm Apr 17, 2008 6:07pm
EURUSD backed away from the 1.5983 highs in a hurry, and put in a 1.5850-area low this morning. If you can leave your emotion and pre-conceived ideas at the door and notice that the setback is clearly in 3 waves, you might see this as a simple correction in the course of the longer-term downtrend. If this morning's lows are taken out, the .618 retracement at 1.5839, parallel channel support at around 1.5830, and then high of wave 1 at 1.5802 are critical levels that will defend the uptrend.
"Building Wealth By Confidence, Consistency, & Compounding"
  • #6,744
  • Apr 17, 2008 6:21pm Apr 17, 2008 6:21pm
You guys have any idea about EUR/JPY..?
I think EUR/JPY is in trouble..
The sheer slope on houly chart gives me goosebumps..
In addition to that, today is Friday. Just want to be extra vigilant..
"Building Wealth By Confidence, Consistency, & Compounding"
  • #6,745
  • Apr 17, 2008 7:35pm Apr 17, 2008 7:35pm
Quoting anne_81
you might see this as a simple correction in the course of the longer-term downtrend.
Did you mean uptrend? Are you trying to say it just retraced, and it's still headed up?

Thanks - I'm just trying to be sure i understood you.

Best Wishes to All
  • #6,746
  • Apr 17, 2008 7:41pm Apr 17, 2008 7:41pm
Quoting anne_81
EURUSD backed away from the 1.5983 highs in a hurry, and put in a 1.5850-area low this morning. If you can leave your emotion and pre-conceived ideas at the door and notice that the setback is clearly in 3 waves, you might see this as a simple correction in the course of the longer-term downtrend. If this morning's lows are taken out, the .618 retracement at 1.5839, parallel channel support at around 1.5830, and then high of wave 1 at 1.5802 are critical levels that will defend the uptrend.
i went short at 1.5893 for near term..
and get ready buy on dips arround 1.5842

EDIT : i'm waiting for breakout at 1.5873 if very nice breakout will see this point 1.5820
  • #6,747
  • Apr 17, 2008 8:53pm Apr 17, 2008 8:53pm
Well, this pair doesn't wanna hear about going down. Same has been happening to Oil, Gold and commodities. Same happened to the Nasdaq during the tech bubble.

By reading lots of posts around forums, the sentiment is extremely bullish, like 99% bullish. I read of traders getting long at horrible prices near all-time highs and adding contracts if Euro retraces...well, I guess it's been really easy money because no big retracement has come yet.

Anyways, the Euro is one of the biggest currency bubbles I've ever seen. At some point it's going to burst, and when that happens, all of us will know because it'll be a big POP.

As far as fundamentals, I continue to read about high inflation in Europe and economy holding up well.

I live in Europe and yes, inflation is high mainly due to oil and energy prices. I guess inflation is high everywhere around the world, not only in Europe. Actually, increasing oil prices should have a minor impact on Europe in terms of inflation due to the appreciation of the Euro against the Dollar.

Also, something else nobody has pointed out here. US inflation and EU inflation are measured much differently. EU inflation incorporates food and energy prices, while US inflation doesn't.

That's how you get low inflation. Just get rid of food and energy and voile', you can lower rates.

Another consideration about EU economy. I read comments on how the EU economy is independent from US economy and exports have been little affected by the strong Euro.

My answer is: NOT YET. According to my projections, wait until next June-July and you will see big european companies bitching about the strong Euro because it'll finally show on their income statements.

How can't Mercedes or BMW be affected by a 20% appreciation of their currency? You gotta be kidding me.

Just think of all the food companies as well, think of French wineries or tourism.

The most evident fact the Euro is a HUGE SPECULATIVE BUBBLE is that not only has the Euro reached insane levels against the dollar, but it's also at all-time highs against the pound.

How do you explain that? Are you now telling me that the UK is the same as the US? Or what about the Yen vs the Euro?

You must realize the Euro has been appreciating against everybody else.

Time will tell what really occured and why the Euro keeps going up. All I am certain of is that it will come down real hard, just don't know when. Same for oil and gold.

For the time being, follow the trend and exploit it until it lasts. We are traders, not economists.
  • #6,748
  • Apr 17, 2008 9:57pm Apr 17, 2008 9:57pm
Quoting ItalianSharp
Well, this pair doesn't wanna hear about going down. Same has been happening to Oil, Gold and commodities. Same happened to the Nasdaq during the tech bubble.

By reading lots of posts around forums, the sentiment is extremely bullish, like 99% bullish. I read of traders getting long at horrible prices near all-time highs and adding contracts if Euro retraces...well, I guess it's been really easy money because no big retracement has come yet.

Anyways, the Euro is one of the biggest currency bubbles I've ever seen. At some point it's going to burst, and when that happens, all of us will know because it'll be a big POP.

As far as fundamentals, I continue to read about high inflation in Europe and economy holding up well.

I live in Europe and yes, inflation is high mainly due to oil and energy prices. I guess inflation is high everywhere around the world, not only in Europe. Actually, increasing oil prices should have a minor impact on Europe in terms of inflation due to the appreciation of the Euro against the Dollar.

Also, something else nobody has pointed out here. US inflation and EU inflation are measured much differently. EU inflation incorporates food and energy prices, while US inflation doesn't.

That's how you get low inflation. Just get rid of food and energy and voile', you can lower rates.

Another consideration about EU economy. I read comments on how the EU economy is independent from US economy and exports have been little affected by the strong Euro.

My answer is: NOT YET. According to my projections, wait until next June-July and you will see big european companies bitching about the strong Euro because it'll finally show on their income statements.

How can't Mercedes or BMW be affected by a 20% appreciation of their currency? You gotta be kidding me.

Just think of all the food companies as well, think of French wineries or tourism.

The most evident fact the Euro is a HUGE SPECULATIVE BUBBLE is that not only has the Euro reached insane levels against the dollar, but it's also at all-time highs against the pound.

How do you explain that? Are you now telling me that the UK is the same as the US? Or what about the Yen vs the Euro?

You must realize the Euro has been appreciating against everybody else.

Time will tell what really occured and why the Euro keeps going up. All I am certain of is that it will come down real hard, just don't know when. Same for oil and gold.

For the time being, follow the trend and exploit it until it lasts. We are traders, not economists.
Great post, couldn't agree with it more Appreciate your time and European insights
  • #6,749
  • Apr 17, 2008 11:22pm Apr 17, 2008 11:22pm
ItalianSharp, interesting post, but here is where I disagree. U.S. market while still very important, is losing its share in the world economy with accelerating pace. BMW (which I am a fan of), Mercedes, french wineries, and European tourist industry will increasingly get their profits from new clients - Chinese, Russians, Indians, Arabs (well, the latter are old ones, but guess where they will spend their oil money?).
At the same time European economy gets cheaper access to all resources with the strong currency. Keep in mind that this is the century of resources - labor and technology will cost less than diminishing resources in the price of any end product.
"Luxury is one of the basic needs", (c), Don Corleone
  • #6,750
  • Edited Apr 18, 2008 1:01am Apr 17, 2008 11:57pm | Edited Apr 18, 2008 1:01am
best time scalping On EURUSD..up n down
refer TF5M if u wanna to scalp

EDIT : EURUSD still in bear bias..im looking forward for this point 1.5978
  • #6,751
  • Apr 18, 2008 1:07am Apr 18, 2008 1:07am
Quoting Ultraman
best time scalping On EURUSD..up n down
refer TF5M if u wanna to scalp

EDIT : EURUSD still in bear bias..im looking forward for this point 1.5978
News:
EUR/USD (1.5904)
European & US sessions forecast levels: 1.5840/1.5985
Trend Sessions: European: Neutral
US: Neutral
Market Focus: 2:00 AM German PPI.
Daily Strategy: After the new record of the dollar the market is flat. The Euro/Dollar is in consolidation at the levels of 1.59. It is expecting neutral trading today. There are not key economic events today. It is expecting slowly recovery of the dollar today. The speculations against the US recession and the necessary by new interest rates cut for the world biggest economy continue. On the next Fed policy meeting is expecting cut between 25 and 75 bps. It is possible to see the key benchmark interest rates at 1.00% at the same level when the Fed hold the interest rates at the lowest levels few years. At the same time the high European inflation not give free room to ECB to cut the interest rates. There are speculations that ECB will raise the interest rates due to the raising inflation in the Euro Zone.

P/S : who know why EURUSD moving UP so fast just now?
any comment guys
  • #6,752
  • Apr 18, 2008 1:38am Apr 18, 2008 1:38am
Quoting Ultraman
News:
EUR/USD (1.5904)
European & US sessions forecast levels: 1.5840/1.5985
Trend Sessions: European: Neutral
US: Neutral
Market Focus: 2:00 AM German PPI.
Daily Strategy: After the new record of the dollar the market is flat. The Euro/Dollar is in consolidation at the levels of 1.59. It is expecting neutral trading today. There are not key economic events today. It is expecting slowly recovery of the dollar today. The speculations against the US recession and the necessary by new interest rates cut for the world biggest economy continue. On the next Fed policy meeting is expecting cut between 25 and 75 bps. It is possible to see the key benchmark interest rates at 1.00% at the same level when the Fed hold the interest rates at the lowest levels few years. At the same time the high European inflation not give free room to ECB to cut the interest rates. There are speculations that ECB will raise the interest rates due to the raising inflation in the Euro Zone.

P/S : who know why EURUSD moving UP so fast just now?
any comment guys
there are no major news for today means a perfect time to assault 1.6 mark..
"Building Wealth By Confidence, Consistency, & Compounding"
  • #6,753
  • Apr 18, 2008 1:40am Apr 18, 2008 1:40am
Quoting anne_81
there are no major news for today means a perfect time to assault 1.6 mark..
u rite, im close my short at -USD480 just now..
and i went long at 1.5942

im looking forward at 1.6049
  • #6,754
  • Apr 18, 2008 1:40am Apr 18, 2008 1:40am
Quoting jshaw5000
Did you mean uptrend? Are you trying to say it just retraced, and it's still headed up?

Thanks - I'm just trying to be sure i understood you.

Best Wishes to All
A move lower yesterday was just a correction, EUR/USD is still heading north..
"Building Wealth By Confidence, Consistency, & Compounding"
  • #6,755
  • Edited 1:50am Apr 18, 2008 1:50am | Edited 1:50am
Quoting Ultraman
best time scalping On EURUSD..up n down
refer TF5M if u wanna to scalp

EDIT : EURUSD still in bear bias..im looking forward for this point 1.5978
Hi,

I would like to know is there anyone using 5 seconds charts to determine the trends and place the trade?how it works?
  • #6,756
  • Apr 18, 2008 1:51am Apr 18, 2008 1:51am
Quoting Ultraman
u rite, im close my short at -USD480 just now..
and i went long at 1.5942

im looking forward at 1.6049
i went long EURJPY n TP : 163.87
  • #6,757
  • Apr 18, 2008 1:52am Apr 18, 2008 1:52am
Quoting Ultraman
u rite, im close my short at -USD480 just now..
and i went long at 1.5942

im looking forward at 1.6049

Hi,

I would like to know is there anyone using 5 seconds charts to determine the trends and place the trade?how it works?
  • #6,758
  • Apr 18, 2008 1:53am Apr 18, 2008 1:53am
Quoting GreatWall
Hi,

I would like to know is there anyone using 5 seconds charts to determine the trends and place the trade?how it works?
me, i 'm scalp TF5M, late entry short..
then do know what happen..EU moving UP so fast..
so, the answer is today i'm loss
  • #6,759
  • Apr 18, 2008 1:56am Apr 18, 2008 1:56am
Quoting Ultraman
me, i 'm scalp TF5M, late entry short..
then do know what happen..EU moving UP so fast..
so, the answer is today i'm loss
I has happened so many times to me - getting in at the wrong time and have to be in a big hole for a long time. But seems like if you are patient enough, you can always get yourself out. I have been in a -200 pips hole before.
Expected the unexpected
  • #6,760
  • Apr 18, 2008 1:59am Apr 18, 2008 1:59am
Hi everyone,

I would like to know is there anyone using 5 seconds charts to determine the trends and place the trade?how it works?
Or what is the less charting time(period?I am not sure how to say it) you depending on?how it works?
1,593 traders viewing now, 2 are registered:
Bushramujhta
,
Luchiem