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EURUSD

  • #7,221
  • Apr 24, 2008 5:46pm Apr 24, 2008 5:46pm
Quoting Clouds
My feeling is long, and tight Stop loss, but I may be wrong....
I have place LONG order since @ 1.5907 But Still At Loss... I don't Know what to do...
  • #7,222
  • Apr 24, 2008 5:50pm Apr 24, 2008 5:50pm
Quoting sasoforex
I have place LONG order since @ 1.5907 But Still At Loss... I don't Know what to do...
Put your S/L , below the low of the day. I wouldn't hang on to it, if it goes below that
  • #7,223
  • Apr 24, 2008 5:57pm Apr 24, 2008 5:57pm
Quoting Clouds
Put your S/L , below the low of the day. I wouldn't hang on to it, if it goes below that

  • #7,224
  • Apr 24, 2008 6:29pm Apr 24, 2008 6:29pm
Taken from forex.com, load up to get short at 1.5775 and 1.5800 with stops at 1.5870.
"Building Wealth By Confidence, Consistency, & Compounding"
  • #7,225
  • Apr 24, 2008 6:31pm Apr 24, 2008 6:31pm
Quoting anne_81
Taken from forex.com, load up to get short at 1.5775 and 1.5800 with stops at 1.5870.
I agree it's going to 1.58, but I'm not convinced it's going to stop there. What do you think?
  • #7,226
  • Apr 24, 2008 7:01pm Apr 24, 2008 7:01pm
I've been away for a week or so and was surprised to see the breakout above 1.5910 didn't go too far.

Long term, I think we could still be in for a run up to the monthly chart resistance before a retrace back down to support.

US economy is still under the hammer, so I'm not confident that the uptrend is all done with yet.

Short term is anyone's guess really.
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  • #7,227
  • Apr 24, 2008 7:03pm Apr 24, 2008 7:03pm
last nite my profit swaped out,
need to be careful so i don't get shit after,
possbile EURUSD will make retracement,
waiting confirmation to be long
  • #7,228
  • Apr 24, 2008 7:31pm Apr 24, 2008 7:31pm
Quoting Ultraman
last nite my profit swaped out,
need to be careful so i don't get shit after,
possbile EURUSD will make retracement,
waiting confirmation to be long
try my luck diz monink just scalp,
it's might be up,
then i wait to be up
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  • #7,229
  • Apr 24, 2008 7:31pm Apr 24, 2008 7:31pm
Support line broken now will act as resistance. Key level to watch 1.5850, much safer to stay off markets on Fridays unless of course you already hold profitable positions.
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  • #7,230
  • Apr 24, 2008 7:33pm Apr 24, 2008 7:33pm
Quoting itechdev
I've been away for a week or so and was surprised to see the breakout above 1.5910 didn't go too far.

Long term, I think we could still be in for a run up to the monthly chart resistance before a retrace back down to support.

US economy is still under the hammer, so I'm not confident that the uptrend is all done with yet.

Short term is anyone's guess really.
You are only taking into account the US economy, which makes up for half of the picture.

Real reason EURO sold off today was bad German IFO numbers, which showed early symptoms of European economy catching the flu from overseas.

In fact, EURUSD ignored bad home sales numbers and continued to drop after 10am.

If bad European data are confirmed next month, expect this pair to hit 1.50 easily.

And I don't dare imagine if Mr. Trichet adopts a more dovish stance on monetary policy...that alone could get this pair below 1.50 within a week.

When you see such strong parabolic moves, you always want to be ready for a correspondent parabolic move in the opposite direction.

Take a look at EURGBP and tell me if that chart looks healthy. That's insane, just like oil and gold and commodities.

I am not screaming change of trend here, it'll take time to get this pair turn south.

However, nothing can convince me that the EURO is not a huge speculative bubble that is going to burst at some point.

It's not time yet though. Maybe 2009 will be the year of the definitive change of trend. I don't see a major reversal occuring any time soon.
  • #7,231
  • Apr 24, 2008 7:38pm Apr 24, 2008 7:38pm
Quoting Ultraman
last nite my profit swaped out,
need to be careful so i don't get shit after,
possbile EURUSD will make retracement,
waiting confirmation to be long
Need more patience perhaps, for instance I still have not put in my long order yet (I'm waiting for the big Pips, not 20/40 pips) since this puppy might still have some room down. The picture is not fully clear yet...
  • #7,232
  • Apr 24, 2008 7:49pm Apr 24, 2008 7:49pm
Quoting Aad
Need more patience perhaps, for instance I still have not put in my long order yet (I'm waiting for the big Pips, not 20/40 pips) since this puppy might still have some room down. The picture is not fully clear yet...
orite Aad, maybe i will take profit arround 10-20pips,
thankz
  • #7,233
  • Apr 24, 2008 7:49pm Apr 24, 2008 7:49pm
so bad
  • #7,234
  • Edited 8:11pm Apr 24, 2008 7:55pm | Edited 8:11pm
Quoting ItalianSharp
You are only taking into account the US economy, which makes up for half of the picture.

Real reason EURO sold off today was bad German IFO numbers, which showed early symptoms of European economy catching the flu from overseas.

In fact, EURUSD ignored bad home sales numbers and continued to drop after 10am.

If bad European data are confirmed next month, expect this pair to hit 1.50 easily.

And I don't dare imagine if Mr. Trichet adopts a more dovish stance on monetary policy...that alone could get this pair below 1.50 within a week.

When you see such strong parabolic moves, you always want to be ready for a correspondent parabolic move in the opposite direction.

Take a look at EURGBP and tell me if that chart looks healthy. That's insane, just like oil and gold and commodities.

I am not screaming change of trend here, it'll take time to get this pair turn south.

However, nothing can convince me that the EURO is not a huge speculative bubble that is going to burst at some point.

It's not time yet though. Maybe 2009 will be the year of the definitive change of trend. I don't see a major reversal occuring any time soon.
I agree with you 110%. But in relation to the EURO, the US is still in a much deeper hole. Has it bottomed out? Far from it. When interest rates go up, we'll see the shit drop through and then they can start rebuilding. Lowering interest rates only encourages more debt, which is the last thing they need. This approach is only delaying the inevitable. For the EURO to start shifting down long term, it's going to need much worse news than the slight decline in the German IFO numbers.
  • #7,235
  • Apr 24, 2008 8:27pm Apr 24, 2008 8:27pm
Quoting Ultraman
orite Aad, maybe i will take profit arround 10-20pips,
thankz
I think you got the wrong thread to base your trading on..no offense, but come on your looking for a trade,I am guilty of it also ....all newbies are.Just sit back watch the price and let it tell you when to enter.As I said I am new to the game too, I find myself getting anxious to get in something to.But in forex we get paid to wait remember that.My trading styles have been with lower timeframes since I started.But I am finding out the longer TF hold more truth in there price action and a lot less stressful.I scalped today....I broke even.......
  • #7,236
  • Apr 24, 2008 9:17pm Apr 24, 2008 9:17pm
Well it's just really hard to tell with all the news coming into the picture. I would like to know if euro is retracing back a bit today. It got so beaten down yesterday - 250 pips. It's only reasonable that it will rebound a bit even if in the intermediate term it will go down more. Is it time to enter in a long position?
Expected the unexpected
  • #7,237
  • Apr 24, 2008 9:49pm Apr 24, 2008 9:49pm
hi - this is my first post on the forums =)

I trade the EUR/USD currency pair and must say that I made a tidy sum on the downswing.

At this level I am unsure as to which way the pair is heading although it is better than 50% for a rise at this level.

I think the 1.564 level was really overbaked.

Right now we're trading in an uptrending channel which will run into 1.57 in a moment. I'll be waiting for upside or downside break from this channel.
  • #7,238
  • Apr 24, 2008 9:52pm Apr 24, 2008 9:52pm
I think now is the time to wait for a VERY CLEAR SIGNAL.

Monthly: Broke out of top of fork, at best will only move sideways.
Weekly: Tops following top fork but open/close sideways, no retrace as such (Same fork from monthly).
Daily: (New fork) Shows widening but still up trend with slight up tick at the end.
Daily Sideways: Bottom range - Nov 2007 to Feb 2008 300 pip range but clearly sideways.
Top range - March to current 700 to 500 pip range and we are down 300 at the moment from top.

Where will it go?
Long term: (1-3 months) Up, the US economy is not finished dropping and EU hasn't caught up with all the economic problems.
Mid term: (month) Sideways in 500 pip range.
Short term: (1-2 weeks) No flipping idea.

There are a ton of longs out there sitting in the hole from 1.6 down and a lot of shorts waiting to be filled just under 1.6 and an odd spike at just under 1.61.

As much as I am tempted to get in long at 1.5700 I will be waiting for a clear signal. I could be way off with my charts, but it is what I see.

Happy trading, I'm out for a while.
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  • #7,239
  • Apr 24, 2008 9:58pm Apr 24, 2008 9:58pm
Quoting scyang
Well it's just really hard to tell with all the news coming into the picture. I would like to know if euro is retracing back a bit today. It got so beaten down yesterday - 250 pips. It's only reasonable that it will rebound a bit even if in the intermediate term it will go down more. Is it time to enter in a long position?
Depends on which chart below is right... If chart 1 is correct, we could be looking at a downward run to 1.50 or below.

If chart 2 is correct, we could see it go up to 1.63ish.

Chart 2 to me seems to be right back in Feb (before 1.5904 was hit)

Any suggestions on my trend lines would be much appreciated
Attached Image(s) (click to enlarge)
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  • #7,240
  • Apr 24, 2008 10:36pm Apr 24, 2008 10:36pm
USD/JPY pair trending down strongly - should see a few pips form for EUR/USD long.
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