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EURUSD

  • #8,441
  • May 5, 2008 7:09pm May 5, 2008 7:09pm
Quoting scyang
Anybody else agrees that euro will be going up in a strong way from here?
agreed... i believe it will break my R1...
  • #8,442
  • May 5, 2008 8:29pm May 5, 2008 8:29pm
How far is euro expected to go, anybody? It's not moving much now, but that's kinda typical this time of day.
Expected the unexpected
  • #8,443
  • May 5, 2008 8:39pm May 5, 2008 8:39pm
Quoting scyang
How far is euro expected to go, anybody? It's not moving much now, but that's kinda typical this time of day.
PFXGlobal are usually pretty good with their predictions.

I think they may be right with this one:

http://www.pfxglobal.com/eur-usd/eur...x-trading.html

Only time will tell for sure
  • #8,444
  • May 5, 2008 8:46pm May 5, 2008 8:46pm
Quoting itechdev
PFXGlobal are usually pretty good with their predictions.

I think they may be right with this one:

http://www.pfxglobal.com/eur-usd/eur...x-trading.html

Only time will tell for sure
Well I am not sure if they are all that accurate. Just two or three days ago, the same video was projecting for the euro to go down to 1.53 and below. Now they changed the story.
Expected the unexpected
  • #8,445
  • May 5, 2008 9:05pm May 5, 2008 9:05pm
Quoting scyang
Well I am not sure if they are all that accurate. Just two or three days ago, the same video was projecting for the euro to go down to 1.53 and below. Now they changed the story.
Nobody is ever 100% accurate. It did drop to the 1.53's, just not below.

Charts really tell the final story. Based on the charts at present, I'd say a run up is likely.

Likely that is, not definite however.
  • #8,446
  • May 5, 2008 9:09pm May 5, 2008 9:09pm
Who was it that was talking about 1.5555?

I'll be watching this number.
  • #8,447
  • May 5, 2008 9:18pm May 5, 2008 9:18pm
Quoting itechdev
Nobody is ever 100% accurate. It did drop to the 1.53's, just not below.

Charts really tell the final story. Based on the charts at present, I'd say a run up is likely.

Likely that is, not definite however.
What they said a couple of days ago was the euro would be going to 1.53 flat and then go further down to test 1.50. I realize nobody could predict the future even though they might be very experienced in interpreting the charts and watching the movements of the market. But it's just that there are so many conflicting pieces of information. When euro is going down, everybody jumps in and yell "down euro down" and say euro will go under 1.50. As soon as euro turns around the corner, people right away start predicting that euro will go back up to 1.6 and beyond. It's just hard to assess what is the real story. I guess that's the reason why the forex market is so complex and nobody can always win and in fact, most people lose.
Expected the unexpected
  • #8,448
  • May 5, 2008 9:20pm May 5, 2008 9:20pm
Quoting kharvell
Who was it that was talking about 1.5555?

I'll be watching this number.
I think when euro was coming down a few days ago, some people were saying that 1.5555 is a strong support level and should jump in to go long at that point because euro would stop dropping from there.
Expected the unexpected
  • #8,449
  • May 5, 2008 9:26pm May 5, 2008 9:26pm
Possible move for week 05/04/08

EUR/USD

1.5700
1.5300

160 for the week

200 pip divergence / 5 days = 40 pip break

= 1.5491 + 40 = 1.5531 go long
1.5491 – 40 = 1.5451 go short

200 - 40 = 160 pip potential profit in place for this week.
  • #8,450
  • May 5, 2008 9:32pm May 5, 2008 9:32pm
Quoting amed12
Possible move for week 05/04/08

EUR/USD

1.5700
1.5300

160 for the week

200 pip divergence / 5 days = 40 pip break

= 1.5491 + 40 = 1.5531 go long
1.5491 – 40 = 1.5451 go short

200 - 40 = 160 pip potential profit in place for this week.
The pip potential looks so tempting. But the problem is 1.53 and 1.57 is a very wide range for forex trading. It's very hard for one to determine which way the trend, at least the short term trend, is going. Euro has already broke 1.5530 a little while ago. Does it mean we should go long or do we have to make sure that it's not a false break. It's now back down a little bit.
Expected the unexpected
  • #8,451
  • May 5, 2008 9:40pm May 5, 2008 9:40pm
Quoting scyang
The pip potential looks so tempting. But the problem is 1.53 and 1.57 is a very wide range for forex trading. It's very hard for one to determine which way the trend, at least the short term trend, is going. Euro has already broke 1.5530 a little while ago. Does it mean we should go long or do we have to make sure that it's not a false break. It's now back down a little bit.

I dont care if go up or down in friday i will be hit my limit or at 11:00am close the trade.
  • #8,452
  • May 5, 2008 9:42pm May 5, 2008 9:42pm
huh to many question about EURUSD,
but for me, EURUSD make some correction b4 shooting down,
and maybe rite now should we went short
  • #8,453
  • May 5, 2008 9:45pm May 5, 2008 9:45pm
Quoting Ultraman
huh to many question about EURUSD,
but for me, EURUSD make some correction b4 shooting down,
and maybe rite now should we went short
Is that your wishful thinking?
Expected the unexpected
  • #8,454
  • May 5, 2008 9:52pm May 5, 2008 9:52pm
Quoting scyang
Is that your wishful thinking?
yes i do,
and my target at golden fibo 61.8 which is 1.5427 my exit entry
  • #8,455
  • May 5, 2008 9:58pm May 5, 2008 9:58pm
Quoting scyang
What they said a couple of days ago was the euro would be going to 1.53 flat and then go further down to test 1.50. I realize nobody could predict the future even though they might be very experienced in interpreting the charts and watching the movements of the market. But it's just that there are so many conflicting pieces of information. When euro is going down, everybody jumps in and yell "down euro down" and say euro will go under 1.50. As soon as euro turns around the corner, people right away start predicting that euro will go back up to 1.6 and beyond. It's just hard to assess what is the real story. I guess that's the reason why the forex market is so complex and nobody can always win and in fact, most people lose.
LOL, You've got it in one my friend.

1.53 zone was predicted because it was a previous support in early March and on April 24th.

1.50 zone is support on the the weekly chart.

1.60 and above is an extension of the old support from March 16th-April 24th. Now assumed to be the new resistance.
Attached Image (click to enlarge)
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  • #8,456
  • May 5, 2008 10:00pm May 5, 2008 10:00pm
Quoting itechdev
LOL, You've got it in one my friend.

1.53 zone was predicted because it was a previous support in early March and on April 24th.

1.50 zone is support on the the weekly chart.

1.60 and above is an extension of the old support from March 16th-April 24th. Now assumed to be the new resistance.
LOL, green pips ready
short eu short
  • #8,457
  • May 5, 2008 10:11pm May 5, 2008 10:11pm
Quoting Ultraman
yes i do,
and my target at golden fibo 61.8 which is 1.5427 my exit entry
Good luck my friend. Hope euro gets there because I am long usdchf position and in a big hole right now. If euro goes down, that will help me. But from all the professional forex analysis I have seen, everybody seems to think that euro is on its way up.
Expected the unexpected
  • #8,458
  • May 5, 2008 10:15pm May 5, 2008 10:15pm
Quoting scyang
Good luck my friend. Hope euro gets there because I am long usdchf position and in a big hole right now. If euro goes down, that will help me. But from all the professional forex analysis I have seen, everybody seems to think that euro is on its way up.
Nobody knows for sure where they market is going, but they all know for sure, that they want to make money. Just put a reasonable S/L, so you can trade again.
  • #8,459
  • May 5, 2008 10:21pm May 5, 2008 10:21pm
Quoting Clouds
Nobody knows for sure where they market is going, but they all know for sure, that they want to make money. Just put a reasonable S/L, so you can trade again.
Thanks for the advice. It's very tricky to put sl. I have done it many times before and what happens is that the price will get to my sl and take me out and go the direction I wanted it to go after all. Very frustrating indeed. Somebody said they don't put a sl because they don't want their broker to see it and take it out. Does anybody know how it really works?
Expected the unexpected
  • #8,460
  • May 5, 2008 10:21pm May 5, 2008 10:21pm
Quoting scyang
Good luck my friend. Hope euro gets there because I am long usdchf position and in a big hole right now. If euro goes down, that will help me. But from all the professional forex analysis I have seen, everybody seems to think that euro is on its way up.
i'm still holding long USDCHF which is +450pips
dun worry dude
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