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EURUSD

  • #9,541
  • May 20, 2008 1:15am May 20, 2008 1:15am
Quoting Dabek FX
long at 1.5546

Pivot: 1.5578.
Our Preference: SHORT positions @ 1.5568 with 1.549 & 1.5465 in sight.

Alternative scenario: The upside penetration of 1.5578 will call for a rebound towards 1.563 & 1.565.

Comment: The 1.558 former support area is now acting as a resistance.

Trend: ST Consolidation; MT Bullish

Key levels Comment

1.565** Intraday bullish channel resistance
1.563** Intraday resistance
1.5578* Intraday pivot point
1.555 Last
1.549** Intraday support
1.5465*** Intraday bullish channel support
1.5425** Intraday support
Attached Image
Don't chase the market, Let the market come to you
  • #9,542
  • May 20, 2008 1:37am May 20, 2008 1:37am
Out at 1.5572 +26 pips
  • #9,543
  • May 20, 2008 2:43am May 20, 2008 2:43am
Quoting Dabek FX
Out at 1.5572 +26 pips
Should have stayed in.
  • #9,544
  • May 20, 2008 2:47am May 20, 2008 2:47am
Quoting HarshFX
Should have stayed in.
Looking at it now, yeah definitely

But I was covering losses from yesterday, and didn't want to get greedy.
  • #9,545
  • May 20, 2008 3:13am May 20, 2008 3:13am
Quoting Dabek FX
long at 1.5546
long @ 1.5519
  • #9,546
  • May 20, 2008 3:18am May 20, 2008 3:18am
Quoting Doose
long @ 1.5519
Someone must be happy today

Waiting for the ZEW index, and hope to hop onto that gravy train
  • #9,547
  • May 20, 2008 3:34am May 20, 2008 3:34am
Quoting Dabek FX
Someone must be happy today

Waiting for the ZEW index, and hope to hop onto that gravy train
Yes I am happy especially after missing out on yesterday's opportunity. Thanks.

I am waiting for that report also. I here wondering if the pair will visit yesterday's high if it gets past 1.5610. (look a bit weak right now)
  • #9,548
  • May 20, 2008 3:37am May 20, 2008 3:37am
Quoting Doose
Yes I am happy especially after missing out on yesterday's opportunity. Thanks.

I am waiting for that report also. I here wondering if the pair will visit yesterday's high if it gets past 1.5610. (look a bit weak right now)
If the index comes out as positive as the inflationary data did, then we can probably see another potential 100 pips up. To me this target is not out of market range.

However on the downside is, we will see a small change in index and just experience a lot of sideways trading. Hoping for the best and expecting an up move.
  • #9,549
  • Edited 4:00am May 20, 2008 3:45am | Edited 4:00am
Quoting Dabek FX
If the index comes out as positive as the inflationary data did, then we can probably see another potential 100 pips up. To me this target is not out of market range.

However on the downside is, we will see a small change in index and just experience a lot of sideways trading. Hoping for the best and expecting an up move.
Well I'll wait for the news. I got stopped out with 80 pips as I had pulled up the SL when it hit 90 pips.

Well lets see.
  • #9,550
  • May 20, 2008 3:54am May 20, 2008 3:54am
Forecasts saying better than previous so lets see how it plays out. congratz on the 80 pips
  • #9,551
  • May 20, 2008 4:01am May 20, 2008 4:01am
Poor German ZEW yet more positive EUR ZEW
  • #9,552
  • May 20, 2008 4:11am May 20, 2008 4:11am
Boy i hate half and half news...half good, half bad.
  • #9,553
  • May 20, 2008 4:12am May 20, 2008 4:12am
I believe this retrace should give a better opportunity to long at a better entry point. http://www.forexfactory.com/images/m...mpact_high.gif PPI m/m is coming out later and is expected to be bad. It's about speculating the moves before the news actually comes out.
  • #9,554
  • May 20, 2008 4:17am May 20, 2008 4:17am
going to take a nap before new york session good luck everyone
  • #9,555
  • May 20, 2008 4:26am May 20, 2008 4:26am
Quoting HarshFX
I believe this retrace should give a better opportunity to long at a better entry point. http://www.forexfactory.com/images/m...mpact_high.gif PPI m/m is coming out later and is expected to be bad. It's about speculating the moves before the news actually comes out.
Thanks I was about to re-enter but hesitated. I'll take a nap I have work in the next 4hrs l8r. I will b patient there are always other opportunities to come.
  • #9,556
  • May 20, 2008 5:19am May 20, 2008 5:19am
Quoting priceaction
Observe the forest - not the trees ...
On Sunday I posted the chart below and since then we have seen yet more confirmation that the long term trend for the Euro looks as if it has recommenced.

  1. 1.56 has been well and truly broken
  2. New May high reached today
  3. Doji on weekly chart
  4. Weekly seeing higher lows and higher highs
  5. Daily seeing higher lows and higher highs
  6. Even negative ZEW sentiment today was only enough to cause a short blip down for the Euro before the lost ground was re-captured against the USD and a new May high was chalked on the board.

All this gives me more reason to believe that the longer term market sentiment is still bullish and trending up, as it has done for over two years.

I'm not smart enough to use the mass of fundamentals out there to forecast the future as I'm not an economist who has been successful in market forecasts. So my best bet is to let price show me the way.

Of course there will be retracements, but I won't fret and think the market has changed direction when they occur. That would be like thinking a tsunami has arrived every time a wave breaks on the beach. I shall be careful but relax and ride the waves when I catch them.

So far I am riding waves up since 1.54 using Jacko’s method including his AH strategy and I'm optimistic of a good journey from the recent dip in the long term upward trend.

Rob

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD - 17 May 2008.jpg Size: 172 KB
  • #9,557
  • May 20, 2008 5:54am May 20, 2008 5:54am
Perfect time to go short on e/u for 50pips down.
  • #9,558
  • May 20, 2008 6:04am May 20, 2008 6:04am
apa punya bosan ler ini forum. kejap kata naik kejap turun. apa punyer merapu daa... bole blah ler nko org. aku yang tak pandai pun bole kata cam tu
  • #9,559
  • May 20, 2008 6:35am May 20, 2008 6:35am
aja itak čist te štekamo model, kar tako naprej, cel svet te razume...
its just money
  • #9,560
  • May 20, 2008 6:57am May 20, 2008 6:57am
Well like I said at the start of the week - the Friday move is not to be trusted and indeed a big retrace there was. Now that it got back and higher I think at least mid 58 is clearly in sight.

EDIT: btw, I got a feeling the PPI is not gonna be as worse - as expected, in keeping with the recent improvement trend of most USD news. Either way, it's probably a good time to stay out short term near the annoucement.
On the path to Enrichment.
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