Joined Dec 2008
Status: Bear trapper/Bull rider
This may be of no interest to a lot of you here that are scalping, here is my long term analysis of the eu. Per my chart, the 1 minute. Noise. the 4 hr shows a nice double top. October ended @ 2730 range, then November took it 100 pips lower to end in the 2630-40 range. December retraced from there and showed good support because we all know what December did. We then have Jan back down to the 2790ish range, and I am looking for this month to be a mirror of Nov, and complete the drop to the 2630ish range. On our weekly we have the Macd about to cross, and 7 weekly bars hanging out in the 2500ish area. Back to the monthly for a second. We know there generally is correlation between the Eu and the USD/CHF. Well looking at the monthly USD/CHF I see no support until we get to the 2130ish area I also notice the true beast (GBP/YEN) Is Headed back south, probably to test new lows again.
That is my monthly analysis. Have a good trading day.
Looks like so far this week the eurusd is not sure which way to go...there's a triangle that started forming on Monday so I'm guessing with all this news we just have to wait for a breakout and I'm sure it will be a big move