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  • #10,601
  • Apr 6, 2009 9:40am Apr 6, 2009 9:40am
Quoting Concept
GBP/USD is still wanting to go down... I think I found some resistance at 1.4645. If that is a good level (Someone confirm for me??? ) I would hopefully expect a bounce... cant be that many sellers left.
See my post #10598.
  • #10,602
  • Apr 6, 2009 9:42am Apr 6, 2009 9:42am
Quoting RedCabbage
See my post #10598.
Oddly enough, I read that post a few minutes ago but I sure didnt clue in that you had the same line. Apparentally I am getting the feel for this a bit! ;P
  • #10,603
  • Apr 6, 2009 9:42am Apr 6, 2009 9:42am
Quoting Concept
GBP/USD is still wanting to go down... I think I found some resistance at 1.4645. If that is a good level (Someone confirm for me??? ) I would hopefully expect a bounce... cant be that many sellers left.
I guess you mean support.. Yep, I'm also watching for a buy from that level.
  • #10,604
  • Apr 6, 2009 9:43am Apr 6, 2009 9:43am
Quoting fx-Junior
I guess you mean support.. Yep, I'm also watching for a buy from that level.
Yeah, support... Ill go fix that
  • #10,605
  • Apr 6, 2009 9:45am Apr 6, 2009 9:45am
Quoting Concept
Oddly enough, I read that post a few minutes ago but I sure didnt clue in that you had the same line. Apparentally I am getting the feel for this a bit! ;P
It's a 38Fib too but don't hold your breath, equities are causing dollar strength this afternoon.
  • #10,606
  • Apr 6, 2009 5:55pm Apr 6, 2009 5:55pm
What I'm watching on the EUR/USD...much of the same. Nice action the last 24 hours.

I still prefer to see US equities rally to support bull EUR so that I can short from 1.375 range. 1.31 also looks nice although to hit that price, we're looking at break of trend.

http://i24.photobucket.com/albums/c2...EUapril6-1.jpg

http://i24.photobucket.com/albums/c2.../eu2april6.jpg
Anyone else?
  • #10,607
  • Apr 6, 2009 7:15pm Apr 6, 2009 7:15pm
I do like your analysis on the hourly timeframe. I am hesitant of the support trendline on the daily chart since these types of lines are generally not as solid as horizontal lines. I am going to wait to see a little more movement, before getting in to any trade on the EUR, GBP, or AUD.
  • #10,608
  • Apr 6, 2009 7:30pm Apr 6, 2009 7:30pm
Quoting logiktrader
I do like your analysis on the hourly timeframe. I am hesitant of the support trendline on the daily chart since these types of lines are generally not as solid as horizontal lines. I am going to wait to see a little more movement, before getting in to any trade on the EUR, GBP, or AUD.
Agree with you on TL, certainly just for reference. I'm curious as to what price will do in the coming UK session...
  • #10,609
  • Apr 7, 2009 4:37am Apr 7, 2009 4:37am
Some nice set ups coming in NY. Let's see what gives the best reaction.

EURUSD 13200-13165
Previous support and resistance
Round number
78Fib
High TF
Space

AUDJPY 6945-6900
Support and resistance
50Fib
Round number
High TF

EURGBP 9018-9000
S+R
Round number
61Fib
TL
High TF

Comments welcome.
  • #10,610
  • Apr 7, 2009 6:08am Apr 7, 2009 6:08am
Looking to short the Euro at 1.3260 level. It may not want to rise above 1.3220 level though but higher probability at 3260, IMO.
  • #10,611
  • Apr 7, 2009 6:16am Apr 7, 2009 6:16am
Quoting seattlerust
Looking to short the Euro at 1.3260 level. It may not want to rise above 1.3220 level though but higher probability at 3260, IMO.
Vaild point about reluctance to come back up 13220.

My short zone is 13287-13300, I should have posted a chart earlier so I wouldn't look like Hindsight Harry saying this!
  • #10,612
  • Edited 6:59am Apr 7, 2009 6:48am | Edited 6:59am
1.4777 seems to be the number to beat for longs at this point. Ahead of that, 1.4876 is minor resistance, and if the highs get seen (1.4987) I would expect them to get taken out at this point.

I'm looking for the daily bar to close as a 'pin' bar, all the better with that area taken out at some point during the day or tomorrow. If that's the case, pullbacks wouldn't be a bad option for me.

But all in vain if sellers come on board again. 1.4580 area was the stopping point today, with a good push to go along with it. EUR is heavily weighted (and daily bar looks abusively short at this point), and dailies mildly oversold using basic indicators, but coming down. This could creep in a channel lower until something more exciting comes along, like the 1.4500 area.

Regardless, alot of net dollar shorts went on the books last week, and its going to be hard to spur a major selloff at this point. But never say never. Stock indices are in corrective mode, but ultimately a push higher isn't out of the cards. That should shove along the 'risk' traders, dumping the dollar for the interim.
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  • #10,613
  • Apr 7, 2009 7:06am Apr 7, 2009 7:06am
Quoting RedCabbage

EURGBP 9018-9000
S+R
Round number
61Fib
TL
High TF

Comments welcome.
Got in +10pips from the back of this tight range, lets see if there's a few pips to be had despite the EUR weakness.
  • #10,614
  • Apr 7, 2009 8:33am Apr 7, 2009 8:33am
I really need a good 4hr GMT close in 30 mins to make this work. Although bear in mind EURGBP spent 5hrs at this level last time.
  • #10,615
  • Apr 7, 2009 10:51pm Apr 7, 2009 10:51pm
EUR/USD finally coming into range...
  • #10,616
  • Apr 7, 2009 11:26pm Apr 7, 2009 11:26pm
Quoting RedCabbage
I really need a good 4hr GMT close in 30 mins to make this work. Although bear in mind EURGBP spent 5hrs at this level last time.
Got the good 4hr close above 9000 but it began to form a flag which was much more likely to break out south which it did after midnight GMT.
  • #10,617
  • Apr 8, 2009 12:07am Apr 8, 2009 12:07am
Quoting sam0182
EUR/USD finally coming into range...
PA and sentiment on EURUSD is not good.

I have gone long NZDUSD instead

5700
S+R
61Fib
Round number
Space
At support at London open
  • #10,618
  • Apr 8, 2009 12:26am Apr 8, 2009 12:26am
This is where I'm at on these two...

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  • #10,619
  • Apr 8, 2009 12:27am Apr 8, 2009 12:27am
Quoting RedCabbage
PA and sentiment on EURUSD is not good.

I have gone long NZDUSD instead

5700
S+R
61Fib
Round number
Space
At support at London open
My comment that this one had space is wrong of course I meant Time. There is a lot of traffic for this to get through but my stop is now at b/e so it's a free trade from here whatever happens. Always nice to get one in at London open.
  • #10,620
  • Apr 8, 2009 12:41am Apr 8, 2009 12:41am
Quoting RedCabbage
Some nice set ups coming in NY. Let's see what gives the best reaction.

EURUSD 13200-13165
Previous support and resistance
Round number
78Fib
High TF
Space



Comments welcome.
EURUSD is turning enough from 13165 to get a stop to b/e after all!
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