EURUSD

time for a long?

1.4960/1.4962 now

I'm seeing targets of 1.50 and then down and 1.53 and then down...

markets will let us know either way.

maybe 138 % fe at 1.4840 ish . This is a good zone for a bounce

when the price lift above a resistence this one become a support.... try to read something about Res. and Supp.... you will find more details about the rule

both flag gbpusd and eurusd are forming bear flags on 10 min. If gbpusd breaks down out of this flag gbpjpy going to break support that it is at right now and head down 50 plus pips , same with eurjpy

1.49 may be as unreachable as 1.61 for this month. This monthly candle is as big as any big candle for EU. I think it's as probable as ranging 1.4920-1.55 then it is dropping further this month. Still, next month could see 1.44. Just a possibility.

It's tough to predict initial supports in a free fall, but one would think that the old boundaries of the 11/07 2/08 range should give a bounce

I understand about Support & Resistance. It only becomes support if it has been tested at this level from the top. If it has not been tested then it is simply a resistance level.

this is what I'm expected too... at least for the Eur/usd... hope we are right

speriamo bene

it might be a support if the price turn to approach that level... otherwise has not any relevance

Yes this is what i am saying. I would only call it support if it proves to be support. Just because the price broke through that resistance does not automatically make it support until it has been tested.

Since it broke out of channel on 4 HR, maybe it will try test channel around 1.525?

It's starting to go down

I don't think that I made myself really understand... later I will try to find an exaple and I will tell you what I mean... maybe because of my english

Oh-really

This is my personal view of how to play EUR/USD

This is also my view of what will probably happen to cause EUR/USD to return to the 1.5500 level. Japan has yet to open so we need to see if anymore liquidation of EUR/USD longs will come from Japan.

Then we need to see if there is anymore longs to be sold in Europe. This selling will also include Margin Calls.

When the entities that NEED to buy their Inventory which is MONEY see that the market has stabilized the first ones that need to build up their inventory of Euro Dollars will start to buy. When the others see it move up they will get in to buy at the best price possible. Others that have lost fortunes since Thursday such as large Hedge Funds will start to buy as well.

It is called Supply and Demand !!! The More Buyers there is the more the EUR/USD goes up. The INTERVENTION and Panic Selling has ended.

I will not buy EUR/USD until I see it move over 1.5000 and hold there and above. I will wait until at least 2:00 AM EST before I go back into EUR/USD

I am also watching USD/JPY because I have a feeling that it might be ready to reverse directions if the Dow starts to sell off again.

If for any reason you see Oil moving Back over $120.00 or better yet $125.00 you will also see Gold move back towards $900.00

You should also watch the Yield on the 2 Year Treasury Bonds and the 10 Year Ones. The spread between the two of them is also important.

That tells you were the money is flowing. When the US Bonds are sold the Yield Goes Up and the Cash either goes into Oil or Gold Or other Currencies.

Follow the Money Flow. The Charts are useful to see where the New Support and Resistance Levels are.

I am going to be highly amused when I see the so called experts talking about the need to CUT FED funds to below 2% as the Meltdown continues in Housing and Financials.

Then Trichet will Hint at a Rate Increase and Guess What, The EUR/USD is again above 1.5500

The Lower Euro causes more inflation since it is also more expensive to buy Oil. If and When Oil goes back up the Inflation issue is back on the table.

When the Dow melts down Risk Aversion is back on the Table and USD/JPY heads back towards 106.00

Gold will eventually go Over $900 US again and sooner than even I think because of the constant printing of Dollars by the Central Banks to replace Money the Banks are not lending because they themselves are in serious financial shape.

These are my thoughts and mine alone. Right or Wrong I have shared them with you. It should be a interesting week in Forex .


Good FX Trading To All !!!

I would say its starting to go up!

People imagine we just got done going to 1.6080, and it drops to 1.6030, is everyone going to start going long cause it goes up 5 pips? The high over the weekend was 1.5050 (I'm pretty sure), and it should at least go up that far, and it may be in range mode, consolidation 100 pips, or so before it maeks it's move.

23:36 EUR/USD: EUR Broadly Weakens Due To Georgia Escalation Sydney, August 11: The EUR/USD has recovered above 1.4950 after falling to 1.4910 in early trading, but the EUR remains a lot weaker against the JPY and CHF. The EUR/CHF closed the US session on Friday at 1.6235 and is currently trading around 1.6190. Analysts say that this is due to reports of military escalation in Georgia that is seen weighing of the EUR and supporting the CHF and JPY.
Analysts say that the fighting between Russia and Georgia has pushed the NYMEX Crude up 1 USD to 116.20 in early trading and this is seen weighing on the USD. The EUR/USD trades 1.4952/57. [email protected]

Only because it might be relevant I am posting an update on USD/JPY as well that I see is now getting stronger at 109.86 Bid


23:16 USD/JPY: JPY Remaining Resilient Amid Broad USD Strength Sydney, August 11: The USD/JPY is back below 110.00 despite the USD gaining ground against every other currency this morning. Traders say that JPY resilience during this USD move higher is due to expectations that Japanese investors will be forced out of long positions in currencies such as the AUD and NZD after the steep falls seen in recent days. Analysts note that Japanese investors have also been buying into currencies such as the ZAR and the Russian Rouble and recently. The first Russian Ruble uridashi was issued recently due to investor demand for that currency. The ZAR fell 7% last week and analysts expect steep falls in the rouble resulting from the escalating military action by Russia in Georgia. The USD/JPY trades 109.90/95. [email protected]

flag breakdowns eruusd and gbpusd playing out nicely for 40 pip move downs in erujpy and gbpjpy

It bring UJ and GC too to the south