EURUSD

5 min, 15 min, 1hr, 4 hr daily all north anyone long?

Bearish divergence on the 1H but that includes the gap. It's a coin flip from here.

not much to say here tonight folks...as we all know...the current range is pretty much 1.2565 to 1.2625...a break of one of those values will indicate further direction. I will say this though...looking at the larger timeframes...we did consolidate in this area for almost a week like 2-3weeks ago...just like we are doing now. Why is this relevant....ranging at the bottom with no real attempts to go lower is a good indicator of one thing...a reversal pattern forming...the oh so famous W. I have mentioned how that pattern appears on the shorter timeframes all the time nowadays but rarely do we see it on as high as the 4h charts. Now i know it goes against all logic to long the euro...with the situation in europe as dismal as it is...the ecb could cut rates again this month and the plummeting us stock market which is directly correlated to usd strength...no one in their right mind should long here. I lost my mind long ago haha so you can guess I am long. I doubt the large W would play out as neckline would be around the 1.2800 OR 1.2865 level (hard to determine depending how zoomed in you are and because both levels have acted as strong support/resistance) which would indicate a run back up to 1.3100 OR 1.3200 but I do see a nice rally up possibly tonight and tommorow which will meet strong resistance around 1.2700 level (last major low which is now acting as resistance). Whether we reach that neckline or not..to be seen. To the downside...we break that 1.2500..well we all know what will happen. Good pippin all. Typed more then I expected..haha..oops =).

If things keep going higher the key level to watch is 1.2700.

I'm currently long on the EUR/JPY. If I was trading the EUR/USD then I'd be long as well.

On the EUR/JPY I have a t/p at 123.50

Just figured out how to post charts..well i hope this is how. Anyways I am in for the long haul.

http://treph.com/wp-content/uploads/2009/03/gartley.jpg

Well, it is also my view that we could be turning the corner on this pair. In fact, it has started a couple weeks ago and now it is more evident technically. Euro zone has its own problems, their approach is going to be different and these last few days have given us a better window on it. Vive the diversity. In times like this with our global problem the last thing we need is to head all to the same cliff. JMO

I am about to get some sleep, but thought I would share that I am still short EU and hoping for more downward momentum with the London and US sessions tomorrow. There is so much fundamental news to short the EU, but we will see what tomorrow brings. Good luck all....

hi guys, I just pocketed +20 pips by going for a quick scalping (Long)

GAP filled, now what???

Now just sit back and watch....There is still another gap to be filled in AUDUSD...the gap on the 15/02/09 still waiting to be filled.

Tequila!!

we have entered the next area where pa consolidated in the last month or so...1.2625 to 1.2695...in todays market baby steps are what is necessary...going from resistance/support to the next...the realy direction wont reveal itself until we break this ugly 1.3100 to 1.2500 range

btw...as any breakout does...a retest of the 1.2625 is almost a given to prove it has become support or not...at that point long entries may enter again...shorts..eh...id rather wait for the previous strong support..1.2565

Good Morning everyone!

Well, and who doesn't love gaps?

This morning my TP has been hit - +71 pips - and that was probably the longest trade of my life (last 24 hours more or less).

2 scenarios could play out here. one is the cup and handle (which doesnt play out much nowadays)...2..a possible double top. a break of 1.2675 to the upside confirms the cup and handle while a break of 1.2645 confirms the M...no bias at this time...5min chart shows this as 15min chart has too many spikes

this could move up more if its a strong trend..

but im not betting on it, so either i short now and it drops, or i wait for retrace to go long

i opted #1 short @2660

The risk to reward at this level for a long is very high. 1.2565 was an easy target for the long. We could expect a full retest to the 1.38 level if there is a break above 1.30 and 1.33. Too much support here; and if there is a retest that high, then expect a fall back to the 1.28-1.30 level.

The Euro is still showing the same signs as it always has in the past during consolidation; but now it's like it's on crack!

Cheers

Well, GAP filled.
I had many critics when I went long Sunday afternoon in order to fill the GAP, but it filled, like it does 99% of the time.

Shamu

Going down from here? we'll see.

retest of 1.2625 complete..as expected...M would be complete at 1.2615 (30pips which is equal to distance from head to neckline which was 1.2675 to 1.2645)....where do we go next...im inclined to believe a break below the 1.2600 level has new lows in sight while if 1.2625 holds firmly..a retest of 1.2700 is to come....how to determine which will happen?...cant really..not even my usually awesome gut instinct can do the job=/....the best trade at this time is no trade in my very honest opinion

This is the run up I was looking for before a the big drop. We could still go up from here but I don't see it changing the overall trend to bullish (yet.)

I've been looking for a good run up before thursday's news so we can get a big drop, after which we should retest the 1.23 support.