EURUSD

We haven't even touched it yet but I hope you are right.
Maybe NY will put some more weight on that thing.

LONDON (Dow Jones)--The euro-zone services sector shrank at its fastest pace on record in December, making it more likely that the European Central Bank will loosen policy aggressively at its meeting Thursday.

Friday is the first announcement on the possible QE US policy.

To me those are the key factors for the big trend. In other words down till Friday (with a possible acceleration on Thursday) and then up.

I have in mind 3 key levels to watch

1.3229 (Mr. Bleakas seems to have a point here) I think there will be quite a retracement there - time to hedge.

1.2998 possible bottom or a strong support (which of the two depends on the news by Thrsday)

1.2741 Likely bottom if the EU news are worse than average (and 100 Fib)

and last 1.2579 - I think this is the absolute max for the current down move before the upswing

The last 3 levels are from the Fib lines I drew on 11th of November after a few weeks of ranging price. It is when I started trading real money and if you remember the price was opening and closing at basicly the same level for weeks. I keep these levels since than and they have proven to be very powerfull. Today's example is the 1.3439 level today (261.8 Fib) the price was bouncing of and on it and than practicly sleeping on it for good 15 minutes.

Hope I was of help

NIceeee

@Farstrider
Great analysis. Totaly agree with you.

Would you care to expline this for newbies like myself?

Another breakout going to occur.

went short at 3540 last night and woke up to a nice surprise of a 220 pip profit. i think for now the move has exhausted itself, it will probably retrace to 3385 (61% fibo level) area before heading south again

Yep I got that. The question is if you are talking about a bullish or bearish sign

the support is very strong. If broken, the downmove will be great. But I will not place any short order yet. Retracement could have started.

Bullish triangle is forming at M5

Retracemet at this level was expected. I have my buy stops at 1.3360 and 1.3378. Could you elaborate on the bullish triangle? All I see on my chart is the price coiling arround the upper line of a channel. I use candlestick chart

the BEAR is gettin tired, we should be careful now

how if that fealure breakout at 1.3300? isn't it will be down to 1.3000

Mommy can I go long now?

Sad I saw the bear, but tried to ride bull thinking the bear was too obvious.

But now...this "charade" has played out, now where?

Trend is still Down. Stay away from Long for a while.

There is a retracement taking place now. Prepare for a short soon.

I think the retrace can be max to 1.3440 and than down to 1.30 at least. I will hedge before it reaches 1.34

entered long from 1.3338

Quick long scalp for 20 pip...not waiting around to find out what is next.

Time to chip away at yesterdays negative number.

I see 1.3525 on this retracement. Does anybody also see it the way I see it :-) Long

I m thinking bear still. This is retracement. 1.3350 is a strong resistance. As alot of traders have placed short orders there.