EURUSD

The GBP is going crazy any idea why EUR is lagging behind...?

typically I risk no more than 1% per trade.

altrader !!!

Current GMT 1325.

EUR/USD appears to be temporarily consolidating around 1.4110.

GBP/USD looks like taking off though, +20 in the last couple of minutes.

Am thinking we are in for long for the next 30 to 45 mins...anyone else on board?

remember there is also the pair EUR/GBP...

I think im agreeing with you.....Not really sure...GBP is going crazy no movement in EUR though ..... Don't forget crude oil investories are coming out...That's likely to have an effect...

HaHa Yes Yes I was expecting someone to say that....

But what is the reason for this....?!

U know that pound is very separate as currency and as economy from the EU

1.410 bought instead.

I have jumped in at 4130 so i wait for 4170

H4 graph
After the pair rebounded from key resistance 1.4260 (“E” trend line and the higher bound of “M-M+” daily trend), it broke the lower bound of “a-a+” uptrend (went below level 1.4200). This is an evidence of the beginning of downtrend development.

A “diamond” figure is being formed now, which is supposed to be a turning figure and lead the pair to level 1.3990 under condition that it drops below 1.4110. Rebounding off resistance 1.4260 and breaking the “a-a+” trend both are speaking in favor of described scenario. Drop below 1.4110 will allow the pair to exit from “H-H+” uptrend and to drop further to level 1.3990. The pair will also pass level 1.4060 (“K” trend line) on its way down. After getting under all those levels, the market will have nothing left to do except dropping to support level 1.3930 (the lower bound of “M-M+” daily sideways trend). That’s why, we already can state that getting to level 1.3930 is just a question of time since an entire technical picture of EUR/USD is inclined to this variant.

My advise is to sell the pair after it drops below level 1.4110, with target set to 1.3930/60 and stop loss set to 1.4190

http://forexmillion.com/uploads/post...640169_eu4.gif



Daily graph (from 07.26.09)
The pair is set against the accumulation of supports 1.4100 and 1.4400 formed by “E” and “F” trend lines correspondingly. These are very strong trend lines. Moreover, “Z” trend line passes through level 1.4400, what further increases the importance of this resistance thus making it a key one. Such a huge accumulation of resistances as well as the pair’s exit from “B-B+” trend both are speaking about formation of the 4th correctional wave, which is supposed to have its target set down to accumulation of supports between 1.3285 and 1.3550.

A "triangle” figure is observed at the graph now (it is formed by “K” and “M” trend lines). The pair has broken up above the higher bound of a “triangle”. Basically, this is speaking about the pair’s intention to rise to 1.46, but it is unlikely to happen because the market is set against key resistance 1.4260 (“E” trend line) as well as against the higher bound of a fresh “M-M+” sideways trend (these levels are showing a very strong resistance, which suppresses the pair’s upside). Therefore, this “triangle” will soon be converted to a “double top” figure having its bottom in the form of “M” trend line – the lower bound of “M-M+” daily sideways trend.

We were given a first sign of trend’s turn – the rebound off resistance 1.4260. Another confirmative sign will be the pair’s drop below 1.4110. Next, downtrend will become more confident upon passing level 1.4000. Drop below level 1.3900 (around the lower bound of “M-M+") will be a certain signal of further dropping to 1.3550 and, possibly, to 1.3285 in case 1.3550 doesn’t offer a decent support.

http://forexmillion.com/uploads/post...640149_eu1.gif


Want relax? Play "MY BRUTE"

man check the books , line 1 must not be higher than end of line 4 ... damn u're right about trend turning but in levels 1.43 i am sure !

if jay was here he will say HOLD ON TO YOUR FU@#$%@%KING HAT !

hahaa

I don't know...

I'm just saying that looking for correlation between pairs is a paradox!

In this case there was possibly some news related to GBP or some big player knows something we don't...

If I knew this things, I would probably be rich!!

my stop loss is at 4075. I can't believe I didn't get stopped out, lol...

I may get stopped out soon though, who knows.

back to 98 then lower below 72 then 60 bounce back to 72 then attack 4048 current 4091

whats the matter about UJ? so man

I see Jay lurking over there