EURUSD

I know, they could take an earned rest over here #478

Update to previous 12 hr chart... (click to enlarge)

In hindsight, I should have paid more attention to the congestion zone a little farther back and a little higher up a'rd the 21sma and 50% fib level... (rightmost white circled area)

So far, the 62% level is playing out nicely and that level has a lot of History associate with it, much more than the lower one. This chart goes back in to February as opposed to the other one that went back only to March.

The stronger the moves, the farther back you look for the areas of Contention, how strong were they, how long did they remain valid, etc. This zone survived three strong rejections as Support back on Feb, was punched thru twice on the way to Other Places, and ranged in it for a short period in between times, but IF (say again... IF) it becomes Resistance now, then will it survive attempts to punch thru higher with strong Rejection bounces to the downside?? We'll see.

Given the lateness of the week, I doubt 'too' much will change now before the Close except for last minute book squaring of course which can be brutal on your trades, but NOT necessarily imply future market direction. I will be watching this area VERY closely for Price to reveal it's intentions next week. No matter what happens I'd expect some good volatility, but having said that, there's also a case to be made for simple consolidation at this level (a la late March) for a time pending some clarity in Funnymentals like the PIGS situation.

Watching global reaction to Israel pulling out of the nuclear "summit" as well....

I should have been better said - we could see higher levels even today.

And careful guys - the day is not at an end - and London has not set his last footprint.


Look at next hourly closings.


;-)



http://cdn.forexfactory.com/images/icons/icon14.gif



I just asked you guys - what you think about that DAILY CANDLE there.


Das war gestern - glaube ich.


bibib

Buy the rumour and sell the fact next week.
The Germans will not let Greece get their money at a concession rate unless Greece give up half their lands to Germany. Lol.

6 month down trendline looks like intersect at 35 352 ish

Down channel top trendline says we are maxed out at 1.3491 but trading indicators say stay with it, price will penetrate channel and make sharp move upward. Massive profits taken off the table with just one small long left to ride it out. If we move above 1.3491, expect lots of stops to be hit.

Short at .3488 target .3327

I knew, it might finally hold 1.3477 61.8 Fib, overshoot a bit, but now

looks under it

http://news.bbc.co.uk/2/hi/business/8611188.stm



Nick still owes me money dammit.

Trichet is speaking

Looks like the top trendline of the down channel has held (for now) at 1.3491 Trading signals moving to more nuetral position. All cashed in and on sidelines now.

As i predicted an hour ago, Dow will try again to cross 11,000 today.

Global Risk Appetite is bearish for US dollar and hence E/U bullish.

Any site that we can check or listen what he said?

if you know chinese go 3w fx168 comIt's no more than a platitude

wow, USDx below 81 (80.93), this baby want to drop straight to 74 non-stop..

waiting short to close again at 1.3436 around. still 55 min to close this present candle h4.
fontu

You can listen to it here http://www.bloomberg.com/tvradio/radio/ You need Real player installed. Click the link on the left for to launch the radio. While this is playing my browser locks up, looking for alternative anyone?

http://www.fx360.com/commentary/kath...of-greece.aspx

This articles tells a great for those late to the party, and wondering whats going on.

what r the bulls waiting for, I need another up move.

I like this post #215358