EURUSD

Now the real test is whether the 61.8 fib resistence level of 1.4700 is broken. Then I could say, it is a free fall from there as the bears have clearly won!

Any comments?

you can see more levels in this view. it just hit minor tl the red one..i thickend the white one.. thats the major one...

wow. your chart seems to be quite complicated

ok, now more news for now - the next 5 hours - let's trade

In contrast to yest's better than expected manufacturing PMI the [UK OCT CONSTRUCTION PMI] has come in on the weak side, falling to 46.2 when some forecasts centered on 47.2 (Bloomberg) vs 46.7 in Sep. The soft figures come despite the construction sector being supported by the govt's bringing forward of some infrastructure spending as part of its efforts to boost the economy and the modest improvements in housing market activity. Nevertheless, concerns remain about the outlook for the sector, with the housing market and commercial property sectors still facing significant problems, though the latter may have seen a light at the end of the tunnel on a latest & more upbeat view from from one of UK's major players, Land Securities (more to follow on this). The construction sector's segment in the initial Q3 GDP estimate showed that output fell by 1.1% q/q after drops of 0.8% in Q2 and 6.9% in Q1.

I always take the wrong side of the trade ???
Has God been testing my patience ???

Well, it looks like gatorinla has a strong predilection for lines, especially young lines.

all this gives me a semi

Stops being touted below the 0.7125/30 area in [NZD/USD]. A number of participants have been caught long following yest's stellar US housing and ISM reports. Models are said to be eyeing a possible break for a possible move on 0.7000. That will depend largely on the longevity of the broader Usd comeback, although the post RBA Aussie reaction has been impacting too. Aud/Nzd has been on the back foot for the most part since the rate hike and accompanying statement. However, the Kiwi has been an indirect lower versus the Usd, as a result, too. Earlier, NZ Q3 wage growth slowed to an eight-year low of 1.9% y/y, while Oct commodity prices gained 4.6% and an eighth straight month rise, but actually slipped in Nzd terms. Flow wise, a US prime name has been a noted seller on behalf of a real money account while a UK clearer sold Aud/Nzd.

[EUR/USD] sliding again with stops tripped through 1.4720 and more stops getting tipped around 1.4685. Irish bank shares also getting hit hard (AIB down 10.4%, Bank of Ireland 7.5%) and this a sure drag on the Euro last week Decent bids around 1.4710 getting filed very easily. As for the stops, worth note that techs see strong support through 1.4670-80 so the reported triggers seemingly ill placed? 09:49 GMT - Although not as eagerly watched as its manuf and services counterparts, the weaker UK construction PMI (see below) has underpinned the [GILT RECOVERY], while sending the already floundering [FTSE] deeper into the red. The 10 yr UK benchmark is just off a marginal new 118.25 peak (+7 ticks vs -13 ticks at one stage), while the main stock index just slipped to a new base at 5018.2, -86 pts on the day. Note, Dec Gilt futures may be somewhat reluctant to venture too much higher, wary of upcoming supply and perhaps not wanting to erase more of the concession afforded by yest's unexpectedly strong manuf survey - more detailed DMO preview to come. Nevertheless, [DEC BUNDS] have also rebounded further to 112.12 (+21 ticks vs +1 tick at the low), while the Dax has dropped to 5332, -98 pts.

Exited short. Entry 1.4742. Exit by TP hit 1.4682. A good 60 pips. I hope you all got this trade.

TP hit to the pip, with a total of +160 pips profit. Another day another profit. Leaving a small short scout to run as ADR is already exceeded.

It is well known that God is one of the biggest Forex Market speculators. He's just playing against you - trying to get your money.

Now you know.

The [EU COMMISION] has revised down its GDP forecast for [SWEDEN] this year, suggesting that 4.6% of contraction is on the cards for 2009 vs the -4.0% previous forecast. It has however revised up its GDP outlook for 2010, putting growth at 1.4% from 0.8% previously. Looking more ahead, 2011 growth is seen at 2.1%.

lines and numbers are my bread and butter..


btw we broke.. so we will see..

Next support 1.46497. If it breaks then if you are on the long side you have to change to your brown pants since the next suport is at 1.45921 then the next at 1.4515.

Autochartist complete pattern on M30

ok will it hold is the question.. this move should be strong...imho

This is what I was talking about.

I'm scalping cable, fiber is following like a well-behaved child - pretty neat price action today.

if you check your 4 hr chart you may see a hs pattern. R arm should be part of this move now.. shoulder was complete yesterday..it gives room for 4416 or 4350 ish..

Can you give more details? Where you entered what was your SL, what is your money management policy - how much of your equity are you risking on one trade, etc. The simple fact that you are 168 pips in the red does not tell us anything. I know traders that have SL of 200-300 pips. So what?

Be more specific and maybe you might get a suggestion.