EURUSD

This is how I see price moving.

Out of curiosity... on what current basis does the Eur have to go down against the USD?

Equities are still pulling up strong and when it does take a breather to pull back...how far will it go? I'm in favour of a bullish sentiment, but that said I still expect it to pullback a bit...before going up further?

Looking at a one year chart, the crashes in the markets lead to a weaker euro/stronger dollar. But the markets are stabilising and should soon return to nice 'positive' growth

With all these shorts, maybe everyone just got used to their recession couch grooves... Like theres some great technical analyses here, but what about the fundamentals?. I just find it a little funny when everyone is pulling out their bear hats while its still bulling up to new highs.

Who likes chicken...


lalalalala

Seriously though, the daily shows the game.

EDIT: The point is, I think RSI breakout seems likely at this point no?

Now moving sideways, good for scalping. Hope the upcoming Pending Home Sales will bring this baby down

That is what the flag formation is all about....pull back...and bounce...pull back...and bounce....

Vice versa to the downside.....

You need to be very carefull with this Resistance TL here...

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The euro may approach its December high of $1.4720 after breaking through “key” resistance at $1.4338, JPMorgan Chase & Co. said, citing trading patterns. A bullish breakout is under way following the impulsive advance” through the June high, Niall O’Connor, a technical analyst at JPMorgan in New York, wrote in a note to clients today. “The upside bias will likely shift into a grind higher, but keep in mind there is little evidence of a topping pattern right now.” The euro advanced for a third day yesterday as the Dollar Index, which the ICE uses to track the dollar against currencies of six major U.S. trading partners including the euro and the yen, dropped to a 10-month low of 77.451. The EUR/USD is currently trading at $1.4395 as of 8:30am, London Time.

Sterling Rose on Monday after data showed UK factory activity grew last month for the first time in more than a year and as earnings results from HSBC and Barclays plc boosted bank shares. The British pound has been shown to be closely correlated with European banking shares, possibly due to London's role as a global financial centre whose fortunes have a significant impact on the national economy. The UK currency gained ground after purchasing managers' data on Monday showed British manufacturing activity grew last month for the first time since March 2008. The headline manufacturing purchasing managers' index rose to 50.8 in July from a revised 47.4 the previous month, and beat forecasts of 47.7. The GBP/USD is currently trading at $1.6935 as of 8:58am, London Time.

The dollar may underperform its major peers except the yen amid the revival in risk appetite, according to UBS AG. “The improvement in the global-growth outlook makes it easier for growth-sensitive currencies to continue their outperformance,” Geoffrey Yu, a currency strategist in London, wrote today in an investor report. “All major currencies bar the yen are still expected to outperform the dollar in the current risk environment.” The USD/JPY is currently trading at 94.95 as of 9:01am, London.

http://images.inmagine.com/img/weste.../wse101053.jpg

borreddddddddddddddd ...

So are we waiting on ny to open before we continue or do you think we are waiting on news? We are ranging ever so slightly lower.

NEWs might move....UK didnt participited much...lets see

I'm considering canceling this order. Price is not behaving in the way I would have expected.

The reason is that price has ranged for so long that which ever direction it 'breaks' towards will violently send it to the upside or the downside in my opinion.

If it violently sends it to the downside then there may not be much of a retrace back up.

Agree. The trend up is strong, but I am anticipating small pullback along the way although it would be dangerous to hold short positions for too long. Since yesterday I got burnt on shorting into strong trend day I am wary of another trend day developing later.

tie ur belts news will really bring some great volatility

NO SHORT NO LONG


we will flirt around 1.44 for some time

From my experience, the market will retest the upper line. I am waiting for this retest before any longs.

hey buddy

1H Euro / Usd Chart

Maybe the wrong signal

It seems like we are drifting lower ever so slowly. Ranging in the 90's, ranging in the 80's-before I know it-we could be near the pivot.

Europe Down.

http://i47.photobucket.com/albums/f174/ftogrul/01-1.gif

http://i47.photobucket.com/albums/f174/ftogrul/04-1.gif

I have closed my short at 4390

support line at 1,4376 looks pretty strong. Probably everyone has to see, we are heading to the end of triangle. I am really curious where it will lead but I trust Optimums analysis and I think we are going down.