EURUSD

Nope, got stopped out June 20th +pips, got in last time down to 1.54 range June 23rd.
5 weeks and not a losing trade! Might only be 360 pips for last 5 weeks but it's a lot better than the first 5 weeks.

I agree, she's definitely range bound between 1.58ish and 1.53ish.

Tested resistance (green TL) and now looks to be heading back south.

Fibo analysis,,

Resistance found at 1.5721 and at 1.5633

My feeling is a drop back to reality, that is,, 1.5471



P.S. My hedge position worked good pips for me,,

buy on EU go go ...TP 1.5850

TA and therefore logic tells me that price should go down for the whole week or so.

There will be a first obstacle the LTL of the ascending channel seen on H4 and the second uptrend TL (observed on daily).

A very clear uptrend line indeed, probably will take price to new heights...

Most probably price won't get the chance to get to 1.53.....

Although the range is pretty much defined towards 1.53....

Taking it o even higher TF, we are in a very bullish monthly channel. However, price touched the UTL of this channel in April sending price down to a retracement maybe for a while.

So yes, I believe it's going down. Not so sure where to. Two clear obstacles before 1.53....

Everyone talking about EUR/USD going down, but you are buying it? Hope you are right.

Bring it's up .kill people and then go down later.

If the 4h bar closes above 1.5760, i would hold long to 1.5900

Nice chart analysis man, I've got to learn a whole lot from you...

Thanks for posting them..

I would not concurr my friend. This looks like if EURUSD was an ascending triangle up to 1.4, it broke out against the normal downward breakout, continued up. I do not see any other pattern here telling me it will go down, but it seems it is on the bottom line of this trend...

I believe it built a "flag", an upward breakout would mean 1.63-1.65

Please see the attachment.

PS. from a technical point of view I would take this as a head with a left shoulder, but given the fundamentals...

Although a correction to this move forward would mean 1.48-1.50. I do not believe so. Why? Its too early. Especially with the rate hikes in EU. If Trichet would not hike them upward then OK. But I think that he will hike them, and to be honest, if he would like to show that he means business then it would like +50pts. I see that as unlikely, a +25pts is more efficient.

Such things happened. Remember that the EU has LARGE excise taxes on fuels, and the unrest here IS way larger than in US. Remember that petrol here costs like 10$/gallon, how would an american feel at the pump? Remember that France now is "chairmaning" the EU, and Sarcozy is against large fuel prices. There might be strong pressure to subdue the prices of oil in EUR, and a +50pts move would be such - stronger EURO. More carry trade.

What is catastrophic to the EU is inflation. This makes unrest here. The problem with rate hikes is that they might serve the EURUSD but not the industry. But then again remember the saying "americans live to work, europeans work to live", there is some truth in this proverb. So curbing inflation, fuel prices, etc is the goal in the EU. In the US the goal is to keep the industry at work. I prefer the latter, but the former is in the EU. So I do not believe that it will be only +25pts for ECB this year. And that means a bulls run on the EURUSD. Period. Unless Fed starts hiking also, but this won't be the case, since they just have lowered the rates.

Is this thread Dead ? Or no one is interested in this pair anymore ?

Much like many others, I'm too busy trading it.

didnt get my order filled on that drop

can you say "slippage"?

didnt get my order filled on that drop

Rule # 21 : Enter orders correctly

Rule # 22 : Limit wake and bakes

CNBC is introducing something never discussed b4. Scalping the currency markets

Short entered at 1.5786 with STL at 1.5825 target 1.5336
Good luck to all

Short before rate hike???

Price can go to 1.5700/16 today or during Asia Market.

I have a short @1.5773 TP 1.5718

Long order waiting at @1.5716 add more @1.5696 SL 1.5671. TARGET FOR THIS ONES 1.5850, This is the ultimate target for Euro.
If price crosses 1.5859 with no fast pullback, my view will change.

I am still Long Term Bearish Bias, the hike will have no strength to raise to 1.60 again.
Too many factors against Euro this time!!

Good Luck all!!

Rate hike may already be priced in.

"Buy the rumour, sell the fact"

That said, I wouldn't be entering any long term trades with ADP, NFP and EUR bid rate coming out this week.