EURUSD Charts

Trade with care and caution at this stage.
The best thing to do now is be patient and wait for the charts to line up and give a more clear picture.
Attached are a 4Hr Gold and EurUsd chart.
The area to watch is @ 1.4960. It's the bottom of the bullish channel and I expect a bounce from that area, but Gold is looking a bit bearish and I don't feel comfortable where it is currently. The current 4Hr candle on EurUsd is also looking bearish.
I'll rather wait to see what price will do at the 1.4960 area and if Gold will turn bullish. Otherwise I'll just sit this one out.

Also take note of the 2 doji's which is a bearish signal. In my opinion, there is too many short signals in a bullish channel. I won't put in any long term trades at his stage.

5M gold chart. I am not sure if it has found some support just below 1057 or asians taking some profits. But my secondary positions have started turning into green, primary still red though.

Bull or Bear, not matter who you are but be very careful. It is my gut feeling that if it decides to go higrer, may do so in a wild move.

Aus/USD daily chart (not posting here) shows it has been very close to upper resistance trend line for days. If it breaks this upper wall, all stop losses for shorts will add to long orders and pa shoots before first profit taking takes place.

GBP, though in a dip right now, going strong against dollar.

I heard something about tomorrow's USD data, if that is not good (and maybe so) it will add fuel to this fire.

I do not say it is likely to go up or down (and this has different meanings to people trading off different time frames) but just an advise so that friends may prudently manage their positions.

Hi all,
I ended up taking a long when price touched down at .499 expecting a bit of a bounce up. Held it through the couple of hours and its now looking alright. We'll see where it goes from here

cheers

Focus on trading, it is moving

Gold not finding enough support at 1057 level, but 1055 and 1050 are there. Let's see if it is Frankfurt preparation or has some sellers behind it.

It is strange, dollar is getting stronger against everything but euro.

Note distortion how dollar behaved against other currencies and euro.
These are 15M charts
Click at the picture to get clear view.

ps. Sorry, aud/usd is 60M chart, but depreciating against dollar probably at rate faster than others.

This is where 1.5000 meets the support trend line (red circled area).

This is one hour chart

"Mini trend" on 5M chart. But they are very fragile. Just to check direction of current price action.

Most critical stage for me.

Let's see if I get a move of 500 pips with a sl of 5 pips.

Is anyone watching usd/jpy?
This pair looks very confused today.

ps.

I rely on my eyes than using tools.

But I like stochastics more than any other tool. It was the first price behavior study I felt need of many years ago while studying markets,

Price has reached at a very critical point of this pair. 1.500 is

1. Significant historical figure
2. Big round number
3. Top wall of a daily channel at this point

.

It couldn't break the top wall of daily channel again this time.

I'll be looking for a retrace around the 5050 area......gold is trying to rise too but that might be short lived as well.

OK, I figure I better subscribe over here so I can soak up some chart knowledge. I might post a chart. A video is a better way to show what I do, though, things move pretty fast on the M1 tf. Don't worry RJ I won't post any dope youtube clips. I noticed Oil & Gold kind of lagging a little against the current E/U move up & wonder if maybe that might be a sign the latter is indeed ripe for some retracement. Maybe some sucky EZ news releases in the early Friday AM could help that along?

Yeah this PA is very hard (for me) to get a handle on, and I must admit to being distracted by news, 'professional analysts' etc etc.

You'll remember that I never thought we would get to 1.5xxx, and if we did it would only be to hunt out stop losses of those who were going short at 1.5? Well, obviously we are at 1.5, but I am still unconvinced that this will stick, despite all the 'professional analysis'. To me, I just don't see much 'gut's' in this upmove, and I'm pretty sure that this is just market manipulation, for god only knows what reason!

I think that this upmove is going to run out of steam pretty soon....although 'pretty soon' might be a week or two.

What I find interesting is that the dollar seems to gain strength throught the ANZAC and Asian sessions, and even the UK sessions, but it drops (mostly) during the USA session. I ask myself 'why????'. Why does Uncle Sam give us all the rhetoric about 'we need the greenback to be strong blah, blah, blah', yet the USA session goes against this??? This is why I see this as manipulation, and this is what makes it so hard for intraday trading....at least it does for me.

If that is correct (and it might not be), eventually the manipulators will lose because the worlds floating currency is more powerful that any bullshit manipulation, and when the worm turns, I expect it to do so with force.

Now, all of the above is just my opinion and I may be 100% wrong, so take it for what it's worth. But I am very reluctant to go long unless I can watch the PA until my trade is in profit, and I am similarly reluctant to go short unless I can watch it until there is profit.

For scalpers such as yourself and AtLast, it probably doesn't matter that much because as long as there is movement, you will be able to trade....which is awesome. For me though, what is happening now is of concern to my account......I don't want to take any chances whatsoever with this. If the PA heads off to 1.5 + and it does so with some sort of power, then fine, the floating currency has acted. Same if it drops. While it is piss-assing around though....I smell a rat!!!!