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EURUSD

  • #9,581
  • May 20, 2008 3:34pm May 20, 2008 3:34pm
approaching the monthly pivot at 1.5715 as I said
  • #9,582
  • May 20, 2008 3:55pm May 20, 2008 3:55pm
I think that eur/usd could test 1,5540 level.
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  • #9,583
  • May 20, 2008 3:57pm May 20, 2008 3:57pm
Quoting magictrader
I think that eur/usd could test 1,5540 level.

I think so too ....
  • #9,584
  • May 20, 2008 3:59pm May 20, 2008 3:59pm
Quoting magictrader
I think that eur/usd could test 1,5540 level.
Pivot: 1.568

Our preference: Short positions below 1.568 with targets @ 1.56 & 1.5562 in extension.

Alternative scenario: Above 1.568 look for further upside with 1.571 & 1.574 as targets.

Comments: the pair is facing its channel resistance.
Attached Image
Don't chase the market, Let the market come to you
  • #9,585
  • May 20, 2008 4:13pm May 20, 2008 4:13pm
Quoting magictrader
I think that eur/usd could test 1,5540 level.
very nice post for the divergences thread
http://www.forexfactory.com/showthread.php?t=87088
  • #9,586
  • May 20, 2008 8:24pm May 20, 2008 8:24pm
Sell

Price: 1.5680
Stop: 1.5700
Profit: 1.5600

Thought I would bring life to the thread.
Que
  • #9,587
  • May 21, 2008 12:44am May 21, 2008 12:44am
Quoting priceaction
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

In @ 1.54 using Jacko's method = Big profits. Are you still holding?
  • #9,588
  • May 21, 2008 12:52am May 21, 2008 12:52am
Quoting forexfixer
In @ 1.54 using Jacko's method = Big profits. Are you still holding?
1.54 was closed for profit according to Jacko's rules.
Now in a 1.55 long and up 170 with 85 locked in by a 100 TSL.

I don't know anyone on FF who has made anywhere near the money that Jacko has from trading so he's the guy to be emulating.

Rob
  • #9,589
  • May 21, 2008 1:10am May 21, 2008 1:10am
important news in 2 hours
expecting going down at least to the daily pivot
1.5609
  • #9,590
  • May 21, 2008 1:16am May 21, 2008 1:16am
Quoting emda
important news in 2 hours
expecting going down at least to the daily pivot
1.5609
I am not holding any positions right now. But how do you know the news will cause it to go down necessarily? What if it's good news for the Eurozone?
Expected the unexpected
  • #9,591
  • May 21, 2008 1:30am May 21, 2008 1:30am
I agree. I closed my short at -20 from yesterday morning. Preferred not to take any chances on it. Live to fight another day.
  • #9,592
  • May 21, 2008 1:31am May 21, 2008 1:31am
Quoting scyang
I am not holding any positions right now. But how do you know the news will cause it to go down necessarily? What if it's good news for the Eurozone?
because the Forecast is bad... but you never know...I don't trade at news time.
  • #9,593
  • May 21, 2008 1:55am May 21, 2008 1:55am
Lol if i stayed a little longer i would of at least broke even.
  • #9,594
  • May 21, 2008 1:59am May 21, 2008 1:59am
I have closed half of my short now... and the rest at breakeven.
  • #9,595
  • May 21, 2008 2:20am May 21, 2008 2:20am
Still short myself.
  • #9,596
  • May 21, 2008 2:32am May 21, 2008 2:32am
Quoting forexmoments
Still short myself.
me too, but who knows where it will go with the news.
  • #9,597
  • May 21, 2008 2:47am May 21, 2008 2:47am
my guess.. is 1.5610
pivot.
and 38.2 retracement..
  • #9,598
  • May 21, 2008 2:48am May 21, 2008 2:48am
less thand 15 min until IFO from Germany, we'll see where this will go.
  • #9,599
  • May 21, 2008 2:53am May 21, 2008 2:53am
Quoting Dabek FX
less thand 15 min until IFO from Germany, we'll see where this will go.
To paraphrase the saying: "Gentlemen, get your stops ready!"
  • #9,600
  • May 21, 2008 3:01am May 21, 2008 3:01am
LOL
that's why I don't trade the news
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