EURUSD

Former Daily res which was also Fibo level from the 1.45 to the low.

What bothers me about expecting an aggressive short now is that the 1-2-3hr charts all show this as a short where the bigger time frames all point these dips into the mid 3500's as a pullback. The move hasn't been strong enough to convince me that the bull run is over.

Now watch the sucker drop 300 points

Edit: I'm flat and watching

This could pull back to 1.3300 and STILL be in the bull run LOL

Yes sir, you are correct. 1.3740ish has been strong resistance in the past. This just could be a change in direction. It might take Monday London/NY to point out the direction.

not out the question.. i havnt checked fibs and you should consider the newest ones you get sunday night...but i would be more comfortable with 3341/48.... if it gets this far and holds lower then theres room to go lower...since 3600 is your entry then are you willing to risk 126 pips to get that? your reward is about 250 pips..you may have a good trade but it could turn around on you quick...i was in before that and have moved my personal sl to 3655....at 3655 you got a good r/r...but your bettting against recent trend...im dodging the question...cause its not my money.. but im in short at a much better entry with profit locked in.. maybe you might want to do the same.. risk be to make 250... all your risking is what you have now on the table.. currently your up 55 pips.. at be your risking 55 house pips to make 250+....your already ahead. its your call... if you cant understand this its on purpose... i dont have your answer..only you do..

Good place to take a short, I won't as it is Friday, and I have had a good day.

Have a good W/E all.

My plan, should it reach 1.3562 is to go long. Should it reach 1.3520, go short. This message may be invalid in the five minutes

This is not a signal service... yet <- JOKING!

So when does this shindig get started? Seems quiet as a church mouse.

That 1.3562 was the resistance I was working off to take a short at1.2349, I have taken the trade mentally, and am interested in the outcome, but I have not actually taken it, it is just a bit of practice to see if I am reading Price correctly. (also it is Friday!!!).

My weekly chart is responding to both of the major fibs in play right now. I believe the retracement is officially over. The rally in DIJA is over now as well. They both need to tank.

gold and oil giving up a little now..

EUR/USD – Has shown impressive upside follow through this week following the previous weekly bullish reversal and the market is now officially in the process of a material correction within the broader downtrend. While daily studies have now reached overbought, the weekly technicals show more room to run and we look for additional upside into the 1.3850-1.4000 area into next week.

I posted this chart some time ago. At the time I really didn't expect the upward pattern to play out, but today I am not so sure. If it does I see 3 possible target areas. 1.4720, 1.4868, and 1.5243.

The daily looks like it might be getting tired and need to take a breather but has room to run. The weekly shows the same but no indication yet that the overall down trend has changed.

This next week will tell us where price is going.

Price dynamics not showing normal bullish cut and thrust pattern on my chart. I dont feel confident of any further bullish headway even though there is no topping signal yet except on the shorter timeframe. I smell divergence on EU major partners monetary and fiscal policy and nationalistic sentiments may prevail in the face of this financial meltdown which is of course bad news for euro.(Even though they may put up a brave front on the bloc's solidarity which is more political than economics. Of course I m no expert on both politics and economics issues but its very natural to look after your own backyard when the common playground is under siege)
I may ask my boys to liquidate some of their long positions and start to look for some strategic short positions if price remain below the 13650 with a last ditch failed long attempt at 13705 acting as a completion confirmation of this bullish run. Initial stop loss will be last high plus 60pips.
Co-rels also diverging since this financial meltdown and its even more so lately. It will be sometimes still before the dust finally settled and we can all get back to our usual trading normalcy.
Sorry for this long spin but posting has suddenly become my new found pastime and would like to believe to have contributed positively as opposed to being right or condescending. Stay nimble and good luck to all.

COT report

What do you think of these articles and how will the affect the eur/usd

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4642259/Eastern-European-currencies-crumble-as-fears-of-debt-crisis-grow.html

and
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/4623525/Failure-to-save-East-Europe-will-lead-to-worldwide-meltdown.html

Thank you very much arthur always look foward to the weekly COT report.

Anybody looked into it ? perhaps all .
Its a W but most symmetrical pattern formation in the history as i take a look into the chart. I am no expert but it almost always indicative of continuation of the trend or at least complete the formation.

Eurusd to join it's ever ending trend again ? very doubtfull , it should not stop only after 50% fib retracement but certainly a good jerk as heppenning presently at this level.

If it just complete the pattern it should go 1.4724.

Again in corrective stage after B whatever complex pattern it creates ,C must go down at some stage or fail having double top at the bottom.

Hope experts give some lights on.
fontu

if u understand about murrey u will see EU down

what do u think ??

That may be a Bearish Gartley Butterfly forming.