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EURUSD

  • #51,621
  • Dec 19, 2008 1:07am Dec 19, 2008 1:07am
spoke too soon-price already touched 1.4300--looking for short
  • #51,622
  • Dec 19, 2008 1:21am Dec 19, 2008 1:21am
Euro Will Weaken 10% Against Dollar in Three Months, UBS, Barclays Predict The euro will fall about 10 percent against the dollar in the next three months as demand for safety and economic weakness in Europe boosts demand for the U.S. currency, UBS AG and Barclays Capital said.

Do you think so?
Give me patience
  • #51,623
  • Dec 19, 2008 1:24am Dec 19, 2008 1:24am
Quoting c-note
spoke too soon-price already touched 1.4300--looking for short
what will you have as a S/L at 4300?

4350?
  • #51,624
  • Dec 19, 2008 1:27am Dec 19, 2008 1:27am
Quoting Bullfx
Euro Will Weaken 10% Against Dollar in Three Months, UBS, Barclays Predict The euro will fall about 10 percent against the dollar in the next three months as demand for safety and economic weakness in Europe boosts demand for the U.S. currency, UBS AG and Barclays Capital said.

Do you think so?
That is a washed down explaination. Nothing has to happen, and that "will" part should scare you off. It is just too far away to tell, for all i know it will weaken by 10 percent in two weeks (not a prediction, just an example).
I would suggest watching the pa for the next few days and making your own decision based on that.
  • #51,625
  • Dec 19, 2008 1:28am Dec 19, 2008 1:28am
Quoting weswes
what will you have as a S/L at 4300?

4350?
It depends on pa, I will go short at a point that I think is optimum... Right now I am looking for it to break out on the upside, and then base my decision.
  • #51,626
  • Dec 19, 2008 1:34am Dec 19, 2008 1:34am
Well this Asian session sucked a big one.
  • #51,627
  • Dec 19, 2008 1:39am Dec 19, 2008 1:39am
i am waiting for it to go down till 1.4210 area to go long.

I have a question from my fellow traders that someone wrote that the resistance level was 1.4308 or something like that.I am new in forex.I just calculated the support level by fibonacci retracements and it was 1.4207 but how to calculate the resistance level?Plz explain..
  • #51,628
  • Dec 19, 2008 1:43am Dec 19, 2008 1:43am
Quoting ammarmemon
i am waiting for it to go down till 1.4210 area to go long.

I have a question from my fellow traders that someone wrote that the resistance level was 1.4308 or something like that.I am new in forex.I just calculated the support level by fibonacci retracements and it was 1.4207 but how to calculate the resistance level?Plz explain..

hello. they could be speaking about the 55 hour SMA. it comes in right around that area.

EDIT: using fibs if you run it from the 1.4866 on sept 22, to the low at 1.2329 area on oct 27. the .786 retracement comes in at around 1.4323. hope this helps.
  • #51,629
  • Dec 19, 2008 1:54am Dec 19, 2008 1:54am
Quoting NwFXenthsist
hello. they could be speaking about the 55 hour SMA. it comes in right around that area.

EDIT: using fibs if you run it from the 1.4866 on sept 22, to the low at 1.2329 area on oct 27. the .786 retracement comes in at around 1.4323. hope this helps.
The price at which a stock or market can trade, but not exceed, for a certain period of time. Often referred to as "resistance level". Go check Investopedia, it's a great site with all terms explained and lots of articles.

Resistance level has nothing to do with Fibonacci, moving averages, or any other indicators. Usually when resistance or support is broken, a big move happens.

http://www.investopedia.com/terms/r/...e.asp?viewed=1
Attached Image (click to enlarge)
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Time goes you say? Ah, no! Time stays. We go...
  • #51,630
  • Dec 19, 2008 1:57am Dec 19, 2008 1:57am
Quoting iii
It depends on pa, I will go short at a point that I think is optimum... Right now I am looking for it to break out on the upside, and then base my decision.
What does PA you mean?
Give me patience
  • #51,631
  • Dec 19, 2008 2:01am Dec 19, 2008 2:01am
Quoting weswes
what will you have as a S/L at 4300?

4350?
1.4520
Time goes you say? Ah, no! Time stays. We go...
  • #51,632
  • Dec 19, 2008 2:01am Dec 19, 2008 2:01am
this range volitility is outrageous
  • #51,633
  • Dec 19, 2008 2:03am Dec 19, 2008 2:03am
Quoting Bullfx
What does PA you mean?
PA = Price Action
Pip what you see; See what you pip!
  • #51,634
  • Dec 19, 2008 2:03am Dec 19, 2008 2:03am
Quoting weswes
this range volitility is outrageous
the bears and bulls are really fightin' it out right now - yes.
Pip what you see; See what you pip!
  • #51,635
  • Dec 19, 2008 2:03am Dec 19, 2008 2:03am
Definitely. Hopefully this means things are getting nice a taught; ready to explode.
  • #51,636
  • Dec 19, 2008 2:05am Dec 19, 2008 2:05am
Quoting permanentjaun
Definitely. Hopefully this means things are getting nice a taught; ready to explode.
I dont see how they cant..The EUR/JPY hourly macd is about to turn negative...and making lower lows..this should weaken the EUR which will translate into USD str by default
  • #51,637
  • Edited 2:11am Dec 19, 2008 2:07am | Edited 2:11am
Quoting andrius
The price at which a stock or market can trade, but not exceed, for a certain period of time. Often referred to as "resistance level". Go check Investopedia, it's a great site with all terms explained and lots of articles.

Resistance level has nothing to do with Fibonacci, moving averages, or any other indicators. Usually when resistance or support is broken, a big move happens.

http://www.investopedia.com/terms/r/...e.asp?viewed=1

yeah i wouldnt necessarily say that. fibs can be used to see "potential" hidden levels of support and resistance. yeah ive checked out investopedia in the past, and it does have some good stuff. thanks
  • #51,638
  • Dec 19, 2008 2:10am Dec 19, 2008 2:10am
Quoting SeerEye
the bears and bulls are really fightin' it out right now - yes.
some crazy action
  • #51,639
  • Dec 19, 2008 2:14am Dec 19, 2008 2:14am
Quoting 5ysfx
some crazy action
lol at the 1min E/U
  • #51,640
  • Dec 19, 2008 2:14am Dec 19, 2008 2:14am
Quoting 5ysfx
some crazy action
that's one way of putting it -
Pip what you see; See what you pip!
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