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EURUSD

  • #55,961
  • Jan 13, 2009 3:44am Jan 13, 2009 3:44am
Quoting Terminale
http://e9e.cn/ it chinese website.
Thanks Terminale
  • #55,962
  • Jan 13, 2009 3:44am Jan 13, 2009 3:44am
Quoting moewenger
it's retracement now. Resistance will push back at 1.3310 the nearest.
Wow to the pip! How did you get this value?
  • #55,963
  • Jan 13, 2009 3:45am Jan 13, 2009 3:45am
Inverse H&S on 15 min chart
  • #55,964
  • Jan 13, 2009 3:56am Jan 13, 2009 3:56am
Quoting andys0506
Wow to the pip! How did you get this value?
it's a basic support/resistance. It's been tested as a support in the morning now price is below 1.3310 so it will acted as resistance then.
  • #55,965
  • Jan 13, 2009 4:08am Jan 13, 2009 4:08am
Quoting andys0506
Wow to the pip! How did you get this value?
I agree!! I was amazed also
  • #55,966
  • Jan 13, 2009 4:14am Jan 13, 2009 4:14am
Quoting Fulltime247
I agree!! I was amazed also
Thanks, sometime I just simply get it right.
  • #55,967
  • Jan 13, 2009 4:16am Jan 13, 2009 4:16am
Quoting moewenger
it's a basic support/resistance. It's been tested as a support in the morning now price is below 1.3310 so it will acted as resistance then.
But the price is not moving in a paritcular direction? What to do in such a situation?
  • #55,968
  • Jan 13, 2009 4:21am Jan 13, 2009 4:21am
Quoting andys0506
Wow to the pip! How did you get this value?
I would also like to knowhttp://www.forexfactory.com/images/icons/icon5.gif
What you do is a reflection of you....what I do is a reflection of me.
  • #55,969
  • Jan 13, 2009 4:22am Jan 13, 2009 4:22am
Quoting Javed
But the price is not moving in a paritcular direction? What to do in such a situation?
just trade with the bigger trend direction. that works for me even if it does takes time. in this case it's downtrend. bounce of downtrend somewhere near 1.3100 as history tells.
  • #55,970
  • Jan 13, 2009 4:23am Jan 13, 2009 4:23am
I got a feeling price will go down to 1.3050, the 78 FIB level from the UPTREND in 4H. So I believe its shorting for now until 1.3050, then there shd be uptrend again. IF 78 fib broken, then we can be assured of a downtrend already.
{Promotion Removed}
  • #55,971
  • Jan 13, 2009 4:23am Jan 13, 2009 4:23am
Quoting Ezzy
I would also like to knowhttp://www.forexfactory.com/images/icons/icon5.gif
Probably just a coincidence and would happen 70% of the time.
  • #55,972
  • Jan 13, 2009 4:26am Jan 13, 2009 4:26am
Quoting sleep1Iopen
Probably just a coincidence and would happen 70% of the time.
probably, but its always work for me. main reason is that downtrend is still not over therefore resistance is a big evidence. the stronger the resistance the better. a retest is coming way now.
  • #55,973
  • Jan 13, 2009 4:29am Jan 13, 2009 4:29am
Best to do nothing and wait for a trend to establish.
Of course, general concensus has been is bearish, but its possible that we will test the recent resistance high of 1.33100 and probably break it.
I would guess that that the prediction was based on a support line tested yesterday, tested again twice this morning and eventually broke between 6:30 and 6:45 this morning GMT.

Just an observation as always

Dazzer
  • #55,974
  • Jan 13, 2009 4:31am Jan 13, 2009 4:31am
Strange EU is going up while gold is dropping
  • #55,975
  • Jan 13, 2009 4:35am Jan 13, 2009 4:35am
Quoting Pyramus
Strange EU is going up while gold is dropping
Gold is forming a trip bottom . I think we will see a rise soon.
The USD index is dropping too now.
  • #55,976
  • Jan 13, 2009 4:41am Jan 13, 2009 4:41am
It would appear we have a double-top on the M15. Might be an idea to amend the stops if you're long to guarantee some profit. If it rides I'll trail it manually.
  • #55,977
  • Jan 13, 2009 4:43am Jan 13, 2009 4:43am
I think its easy to say that if price doesn't close above the trendline with a 4h confirmation......Then, since we are seeing a dip to a new weekly low, from which there was only a 38.2 retracement, shorts are best to hold because fib price theory states we should see 1.29 soon. Since the risk is 100 or so pips and the reward is close to 400 - go ahead and hold the short. your getting 4:1 odds.
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  • #55,978
  • Jan 13, 2009 4:46am Jan 13, 2009 4:46am
Quoting tamster
1.3050 should be low. This will be trend line from flag break out and also confluence of numerous trend lines on my chart.

Important to look at the $ index chart at this time because the head and shoulders pattern on this chart should correlate with the inverse H&S on the Eur/Usd.

If anyone has access to a good $ index chart or can point in right direction for one, please post.

BTW: I don't mean that we will get to 3050 today - just that should be turning point when we do get there.

You could download this MT4 set up link: http://www.metaquotes.net/files/whc/whc4setup.exe

Right click on "symbol" in the Market Watch box then left click on "show all"
Then scroll down to where the colour is yellow and the dollar index is DXH9...
  • #55,979
  • Jan 13, 2009 4:48am Jan 13, 2009 4:48am
the 3311 area! lots of up volume on the usdchf
  • #55,980
  • Jan 13, 2009 4:48am Jan 13, 2009 4:48am
Quoting Navigator
You could download this MT4 set up link: http://www.metaquotes.net/files/whc/whc4setup.exe

Right click on "symbol" in the Market Watch box then left click on "show all"
Then scroll down to where the colour is yellow and the dollar index is DXH9...
Great - thanks Navigator.
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