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EURUSD

  • #40,181
  • Oct 20, 2008 9:52am Oct 20, 2008 9:52am
Everyone should be aware we are currently trading below and also have a semi - solid (12pips) previous 1hr close below the Weekly 200sma level (bold dotted yellow line)

You can ignore everything else on this chart. What happens in about 10 minutes on the next 1hr close will help to define and determine near to maybe mid term direction on this pair, with a SOLID 1hr open/close below the sma.

Only caveat is that this is happening while Bernanke is speaking, so that would be the fly in the ointment. But broken support is broken support no matter how you qualify it...

All shorts looking very happy this morning. Gone for the day.

Bank of India cut rates a full percent for 1st time in 4 yrs. China had Q3 slowdown.. And Russia... oh never mind... the BRIC wall is cracking.
Attached Image
FUBAR...
  • #40,182
  • Oct 20, 2008 9:56am Oct 20, 2008 9:56am
Could it be? ... chasing the lowest since EU drop and my S3 number i closed my entry (gain couple of pips) and then boom down to south
  • #40,183
  • Oct 20, 2008 10:03am Oct 20, 2008 10:03am
Updated Weekly chart, compare to when it was first posted at
http://www.forexfactory.com/showpost...ostcount=35639
Attached Image
FUBAR...
  • #40,184
  • Oct 20, 2008 10:12am Oct 20, 2008 10:12am
I'm looking for 1.3054 fib now
  • #40,185
  • Oct 20, 2008 10:13am Oct 20, 2008 10:13am
Quoting emda
I'm looking for 1.3054 fib now
long way down. what's your time frame for that?
  • #40,186
  • Edited 12:32pm Oct 20, 2008 10:15am | Edited 12:32pm
I bouth very Small amount EUR/USD 1.3290 Psychological level, and Sold USD/CHF 1.1520
I'll move Stops near ENTRY as soon as possible
{Promotion Removed}
  • #40,187
  • Oct 20, 2008 10:18am Oct 20, 2008 10:18am
Did anybody feel a small "bump".
Polishing my crystal ball
  • #40,188
  • Oct 20, 2008 10:18am Oct 20, 2008 10:18am
I am new to FOREX. I was doing stocks for a while. I saw a price action which is common in equities which tells me EUR/USD is going to move up from here. It is trading at 1.3305 now..
  • #40,189
  • Oct 20, 2008 10:27am Oct 20, 2008 10:27am
Quoting kasper
long way down. what's your time frame for that?
I see it as a good target / support... it's a big fib 38.2 in the monthly
  • #40,190
  • Oct 20, 2008 10:38am Oct 20, 2008 10:38am
Quoting anwarsadique
I am new to FOREX. I was doing stocks for a while. I saw a price action which is common in equities which tells me EUR/USD is going to move up from here. It is trading at 1.3305 now..
You were right, at least in the short term. What did you spot?
  • #40,191
  • Oct 20, 2008 10:41am Oct 20, 2008 10:41am
Quoting anwarsadique
I am new to FOREX. I was doing stocks for a while. I saw a price action which is common in equities which tells me EUR/USD is going to move up from here. It is trading at 1.3305 now..
Don't like what i am seeing now.. Its trading at 1.3319 now.. If anybody long i would close the position and wait to see where it goes next
  • #40,192
  • Oct 20, 2008 10:46am Oct 20, 2008 10:46am
Quoting Algirdas
I still do not trade, my mission was to tell you that USD will get Stronger this morning, still looking for exactly safe Entry
It's nice if you went EUR/USD Short on this information.

But I want to give you safe Calls as much as I can..
Thees Calls do not belong to EUR/USD, but everything correlates in FOREX, I do post there just for correlation.
GBP/USD
It's good to Buy GBP/USD Small amount near 1.7105, but "Break Even" if price will hit today's lowers, USD/CAD I'll Sell near 1.1997
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  • #40,193
  • Oct 20, 2008 10:47am Oct 20, 2008 10:47am
That is the second support @ 1.3311 it should move up now, thats enough! The EURO are expected to lower their interbank rates but come on the fed is still printing more money! lets see it kick up
I have not failed. I've just found 10,000 ways that won't work -
  • #40,194
  • Oct 20, 2008 10:54am Oct 20, 2008 10:54am
http://www.bloomberg.com/apps/news?p...VDQ&refer=home

So according to GS analysis, the oil will keep on diving , driving the USD further up. So, thats another indicator that the long-term downtrend will keep on going for another several days!
I have not failed. I've just found 10,000 ways that won't work -
  • #40,195
  • Oct 20, 2008 10:59am Oct 20, 2008 10:59am
Two usually very strong set ups seperately are forming now in same time...
Double top with smaller double top on 4H and doji on weekly chart. Which do you prefer?
My nose is telling me doji, bullish. Something similar was seen 6 weeks ago, with nice rebound, but no lower lows like today tough.
http://img355.imageshack.us/img355/4...etopwq1.th.jpg

http://img352.imageshack.us/img352/198/dojihk7.th.jpg
  • #40,196
  • Oct 20, 2008 11:03am Oct 20, 2008 11:03am
spinning top on hourly. If next candle is bullish, shorts will start to cover and should move up.
TRADE FOR SWAP
  • #40,197
  • Oct 20, 2008 11:08am Oct 20, 2008 11:08am
Here is the support .. I see Fib next.. anyone can imagine it?
I have not failed. I've just found 10,000 ways that won't work -
  • #40,198
  • Oct 20, 2008 11:14am Oct 20, 2008 11:14am
Quoting PrisonPlanet
Here is the support .. I see Fib next.. anyone can imagine it?
support where? what fib? i'm soo lost.
  • #40,199
  • Oct 20, 2008 11:23am Oct 20, 2008 11:23am
Looking at the M15 : the support should been hit already @ 1.3313 and it should reach the fibonacci 62.5% .so next resistance is @ 1.344 . Again, am trading on the M15 .
I have not failed. I've just found 10,000 ways that won't work -
  • #40,200
  • Oct 20, 2008 11:44am Oct 20, 2008 11:44am
heading for 1.329 again. bounce or will the floor be pulled out from under this pair.
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