EURUSD

TC,

You can still withstand wide swings in price with a tiny account.....

this may be the short point

Good day to you all,

I hope I'm not intruding, but I would like to share some levels I am watching at the moment. I am a short term trader. Taking 10 to 20 pips at a time, with the ad hoc longer trade for 30 or 40.

Normally trade GU, but also like to trade EU.

I am attaching my chart. It's numbered and referenced:

1) Price has moved down from previous highs, but is finding Support/Resistance at the 1.4720 level. This is the high of last week.
2) Should price manage to break this level, it will face further resistance @ 1.4703 - this is last week's opening price, in confluence with the 1.4700 round number sitting just below. Technically, it would be quite difficult for price to break back below 1.4700.
3) This level contains yesterday's high @ 1.4669
4) The 50% line of this week currently sitting @ 1.4664

To the upside, the most important level for me to watch will be the 1.4750 number, and above that the 1.4769 number - this is the upper level of the daily channel by low

Longs to be taken above 1.4769, and shorts to be considered below 1.4700. We may see ranging conditions for the rest of the day?

PS - Possible pin formation on 4hr. Could also be tweezer?

Any feedback or opinion welcomed.

I wish you all success.

Regards

This english can be crazy because i used a translater (google) ;P

The strength of the euro is increasingly becoming a problem

Since early March, rose the exchange rate of euro against the U.S. dollar by more than 15 percent. And apparently the chairman of the European Central Bank, Jean-Claude Trichet fears that a further sale of the dollar. Suggest that at least his recent statements: in his view, China should allow its currency appreciate against the U.S. dollar, so that the euro does not have to shoulder the entire burden of dollar weakness. No wonder: The U.S. printing money like crazy and we need to somehow reflect a devaluation.

Verbal intervention has no effect
Should the ECB chief at the press conference after the Fed meeting on Thursday concerned about the appreciation of the euro against the dollar, say, then this could cause short-term price movements in the foreign exchange market, namely a decrease of EUR / USD. But in the medium term such statements will have no impact, because the ECB will have to follow the no intervention in the foreign exchange market. And allow the Chinese people suddenly a revaluation of the yuan, is also unlikely. Rather, the Chinese themselves diligently continue to print money to take in this way the appreciation pressure on their currency, because China still suffers from an export weakness. An appreciation of the yuan would be under these circumstances, poison, because that would play, especially the competitors in neighboring Asian countries in their hands.

Conclusion: EUR / USD is expected to increase the medium term.

germans can try this link ->

http://www.eltee.de/foreignexchanged...id.php?id=8361

So or so. Next time he will drop now its time for the bad data of european in the next weeks.

All has end, all beginns, and all ends. Good trading.

The first sample was GBP next will be European.

So guyz what are the expectations from NY? I am short at 47.12

Let`s see what this triangle wants to tell us, long @4722

settled! in less than twenty four hours. Hope they covered or managed it.

I see! Well i'll be more than happy if it visits 4680ish and then it can go where it wants to coz i'll be out of my shorts then!

I rather wait a bit to see how does it act when US will open but i rather would go short than long when 1.4740 and above.....

That was a nice call

This what just came over from my broker not convinced about it. I like the uo move but even that I am not so sure anymore....

all should now agree we d-i-d create a new H1 channel...friday. Left the midpoint last night (US) - scraping the top we could 'scrape' a while. Great move since Friday yaay

Mid-East sellers of EUR/USD

Written by Jamie Coleman
October 6, 2009 at 12:16 GMT

If the international oil cabal is looking to dump the dollar, they are sure going about it in a funny way…dealers report the main sellers of EUR/USD on strength this morning are Middle Eastern accounts toward the 1.4750 level.
Bids are scattered down in the 1.4600/10 area with a few small stops from short-term traders below 1.4700.

does anyone know the name of the song of bloomber tv?
the one they play when they show best/worst perfomers and other numbers and charts???
Would be nice to get hands on it I find it very relaxing......

I just googled Bloomberg Theme Music and here's a website

http://beemp3.com/index.php?q=bloomb...e+music&st=all

thx mate

I love forexlive.com....it gives me more confident to go short. Easy 10 pips