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EURUSD

  • #10,741
  • Jun 4, 2008 9:18pm Jun 4, 2008 9:18pm
Quoting kokolaymm
Why short
Its been going down for 3 months. Look at monthly chart. I believe it will start to accelerate down, just my view
  • #10,742
  • Jun 4, 2008 9:22pm Jun 4, 2008 9:22pm
Ill see how the market plays out. Still floating around the 1.5390 mark. Ill still hold my long with a small stop loss
  • #10,743
  • Jun 4, 2008 9:22pm Jun 4, 2008 9:22pm
Quoting Clouds
Its been going down for 3 months. Look at monthly chart. I believe it will start to accelerate down, just my view
I agree especially with Bernanke's hawkish comments. Big money is going to starting pulling its money from its USD shorts.
"A goal without a plan is just a wish."
  • #10,744
  • Jun 4, 2008 9:22pm Jun 4, 2008 9:22pm
Could it bounce? Maybe, but if it doesn't , it could further losses.
Attached Image
  • #10,745
  • Jun 4, 2008 9:26pm Jun 4, 2008 9:26pm
On your chart above on the previous two bounces we've seen a bullish hammer reversal candlestick and then a bullish reversal doji candlestick. If we see a bullish candlestick here then I would go long but not before.

Quoting Clouds
Could it bounce? Maybe, but if it doesn't , it could further losses.
Attachment
"A goal without a plan is just a wish."
  • #10,746
  • Jun 4, 2008 9:36pm Jun 4, 2008 9:36pm
Quoting kokolaymm
Why short
1) Double top at 1.58 area.
2) Euroland is catching up with US economic problems.
3) The US may have more problems in the future, but at the moment not as bad as it could be.
4) The best part of a rollercoaster is the drop!
5) Last drop ended up around 1.528x (from memory, to lazy to look it up).
6) HUGE drop with out up correction.
7) Oil at $122, seems like ages since it was there.
8) Got laid off 3 weeks ago and a job found me in less than 2 weeks.
9) It's better than the last one.
10) Why not. Euro is getting tired.
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  • #10,747
  • Jun 4, 2008 10:12pm Jun 4, 2008 10:12pm
EUR might turn out to be a pretty strong currency, if this support isn't broken.
  • #10,748
  • Jun 4, 2008 10:35pm Jun 4, 2008 10:35pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Gandolf
Currently battling your nemesis.
LOL! He's always lurking when you least expect him to show up. No worries though. You had a plan (can't remember what you posted earlier) so just stick to it and most importantly stick to your equity management. If it doesn't work out I just view it as a trading expense. Move on and trade the next set-up. There will be lots of set-ups and this week has been pretty crazy anyways.

Also this break was during the Asian session (potential bear trap) so could easily be reversed by Euro session or it could continue going. Nobody knows these days...lol. I could make a case for going long or short, but personally I'd be leaning towards bearish. Not only b/c of the break below the range, but I'm bearish biased on Gold right now so that could potentially impact Euro coupled with Bernanke talking up the dollar. My targets down would be 1.5366 then 1.5290. For bulls though I see divergences on 4hr and 1hr. Would need to see a close above 1.5410 for bull team and then close above 1.5473 would seal the deal. But again, trade your plan as best as you can. Good luck buddy, follow your plan, and hope Mr. Grear bothers someone else without a plan.
"Wishful thinking dies hard." Igor T.
  • #10,749
  • Jun 4, 2008 11:36pm Jun 4, 2008 11:36pm
Support line showing on the daily chart.
Anyone else buying Euro at low levels?
Attached Image
  • #10,750
  • Jun 4, 2008 11:41pm Jun 4, 2008 11:41pm
Quoting MackS10
Support line showing on the daily chart.
Anyone else buying Euro at low levels?
I am buying bought at 1.5390. Another position at 1.5428. Both long!
  • #10,751
  • Jun 4, 2008 11:42pm Jun 4, 2008 11:42pm
Quoting MackS10
Support line showing on the daily chart.
Anyone else buying Euro at low levels?
it got to 1.53 last time, im short, and see a possible retracement to 1.44, but i may be dreaming
  • #10,752
  • Jun 4, 2008 11:44pm Jun 4, 2008 11:44pm
Quoting Clouds
it got to 1.53 last time, im short, and see a possible retracement to 1.44, but i may be dreaming
I think you are dreaming. Not that I don't agree that eurusd and gbpusd are in a down trend. But it's not a straight down by any means, and it's not going to 1.44 yet.
Expected the unexpected
  • #10,753
  • Jun 4, 2008 11:44pm Jun 4, 2008 11:44pm
I have decided to Long, let me tell you what my rationale is.

I want it to bounce back to 1.6, so I can be rich.
Isn't that enough??
  • #10,754
  • Jun 4, 2008 11:50pm Jun 4, 2008 11:50pm
Did anyone see the 123 top formation on the Euro Daily chart. From a technical anyalsis standpoint the trend could be about to change and a sell signal would be triggered at a break below support which is 1.5282.

Cliff
  • #10,755
  • Jun 4, 2008 11:53pm Jun 4, 2008 11:53pm
Down baby.. DOWN!!

Quoting trader1976
Did anyone see the 123 top formation on the Euro Daily chart. From a technical anyalsis standpoint the trend could be about to change and a sell signal would be triggered at a break below support which is 1.5282.

Cliff
There is no bad decisions, its only didn't work out.
  • #10,756
  • Jun 5, 2008 12:13am Jun 5, 2008 12:13am
Quoting puteraku73
Down baby.. DOWN!!
Perhaps Head And Shoulders Pattern ???????????? and if is 1.4500 is possible. </SPAN>
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  • #10,757
  • Jun 5, 2008 12:16am Jun 5, 2008 12:16am
Quoting stanru
Perhaps Head And Shoulders Pattern ???????????? and if is 1.4500 is possible. </SPAN>
I tend to agree with this...

Except for the left shoulder is double and it would be out of style if the right one didn't match it.
  • #10,758
  • Jun 5, 2008 12:34am Jun 5, 2008 12:34am
Looks pretty bearish for the EU on the daily charts. Lower highs and lower lows in a bearish channel both on chart and RSI.
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"A goal without a plan is just a wish."
  • #10,759
  • Jun 5, 2008 12:44am Jun 5, 2008 12:44am
Quoting JasonGuillen
I have decided to Long, let me tell you what my rationale is.

I want it to bounce back to 1.6, so I can be rich.
Isn't that enough??
Stranger things have happened.

I may go long soon myself.
Not all sins are created equal
  • #10,760
  • Jun 5, 2008 12:46am Jun 5, 2008 12:46am
Closed two shorts
@1.5450 TP 1.5390
@1.5437 TP 1.5390

MY TP was 1.5378, but after price reach 1.5383 I closed the trades after.
Now wait price to go to 1.5427 to short again.
But already in a short trade @1.5407.
I think price will be testing again 1.5350/70
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