EURUSD

im shorting so far I know ift will go up a bit but i dont expect a big return up movement

euro zone to me isnt that great right now, I dont think it is as stable as people make out

but it has seemed to be going down for a while wonder if it actually goes par with the usd

it might go to 1.5 gut feeling. no real analysis there! just point that out

i just feel it might.

There's no selling pressure here.

Thanks , you are very right and my bad I did some mistakes & doing things so early . anyway once done always done, either to survive with shorts again or to delete them
Another mistake I did not take care of the weekly chart I always did , 1 sell set up perfectio candle 9th running & likely bounce but for a good sell signal it may go as high as close 6th 1.3317 , seems impossible now . so likely to close this present candle below the previous 1.2730 & down any pips and weekly close still enough time ,I am remaining bear side till it end next friday.A big loss if it continues thorugh 1.2850 as previously tp set for my longs direct & big profit if it test low & bear continue before testing that level .


good luck.
fontu

Today - Up

Sell Zone 1.3175

not valid any more

I'm playing the trendline on hourly. But yes you are right, if 5 minute chart initiat an reversal bar and start the downtrend then I should also see a reversal bar an hour or so later on the hourly timeframe. I'm thinking if the 5min develops and inside bar then the hourly should develop a dark cloud candlestick.

EURO-DOLLAR: Extends recovery to $1.2738 as move squeezes sdome of the
weaker spec shorts. Traders had suggested that market sitting very short
of euros and open to corrective rallies. Offers now seen placed to
$1.2750/60 (NY/Europe highs Tuesday).

Provided by: Market News International

FOREX-Euro slips on nagging debt worry, GBP holds gains
Tue May 11, 2010 8:58pm EDT
* Near term target for euro at around $1.2580

* Sterling holds gains, market eyes new govt's moves on debt

* Advances in stocks help higher yielders vs yen.

By Kaori Kaneko

TOKYO, May 12 (Reuters) - The euro slipped on Wednesday on nagging worries about the euro zone's ability to tackle its debt crisis, while sterling held gains after a new coalition UK government was formed.

Conservative party leader David Cameron took over as British prime minister after securing a power-sharing agreement between his centre-right party and the smaller Liberal Democrats. [ID:nUKVOTES]

Market players said they were keen to see if the Conservative-led government will take swift action to bring down spending.

The euro remained under selling pressure with investors still sceptical about the euro zone economies' ability to deliver the drastic spending cuts and tax increases needed to get their fiscal houses in order.

"The euro's gains were short-lived as the fundamental debt problems in Greece and some other nations in the euro-zone have not been solved and severe conditions will likely continue," said a trader at a Japanese bank.

"Investors cannot become optimistic and they are not yet ready to fully take on risk trades," he said.

The euro was trading around $1.2636 EUR=, down 0.2 percent from late U.S. trade on Tuesday, having retreated from Monday's high near $1.3100. One near-term downside target for the euro may be around $1.2580, near Friday's low, the trader said.

Sterling slipped 0.2 percent to $1.4888 GBP=D4 after rising above $1.5000 on Tuesday. The euro edged up 0.2 percent against sterling to 84.84 pence EURGBP=D4 after falling more than 1.5 percent on Tuesday.

A drop below 84.28 pence would take the euro to its lowest in 11 months against sterling.

Initial gains in Tokyo shares .N225 helped higher-yielding currencies against the yen with the Australian dollar rising 0.2 percent to 83.13 yen AUDJPY=R.

The dollar rose 0.2 percent to 92.86 yen. (Editing by Edwina Gibbs)

I am bullish as well for today.

Just came back from Ikea from my lunch appointment. Missed the doji below.

Seemed like a temporary bottom is formed at 2630. Looked to me like a double bottom with the top at 1.3040 (61.8% from 30 Apr to 6 May).

Now waiting for a small pullback to enter my long.

pretty much what i'm trying to do also

I'm going to hold on my shorts plan just a but longer. My monthly chart shows price nicely breaking through angeled Fib Fan bit hasn't reached Fib Retracement level 1.23. Not sure if price will every reach it but I do have confidence in price reaching at least 1.25 or near it.

Good morning fellow traders !

Moin Kit Cat Man !

Macht nix - kann passieren. I know they are quite ok. Und danke für Deine Mitteilungen. They are useful for us.


Thanks for your no. 1

I have a dodji on the M30, retrecment fibo 23,6% from the last move down, so do we go to test the 1.2600?

any thought about that?

We had a 2B reversal at the bottom. Go euro! Go higher so I can short again! Haha.

changed my mind - down

I think with the positive news that came out the EU will be going up more. To the target of 2812(50%) Fib line.

Great ! monthly chart shows 5 more months of down play if all conditions be constant .
price now expecting back to first entry shorts at 1.2664 soon before a bounce .tp set there to come zero ground first.77 will make trouble , not care.you got my support!!
fontu

Didn't even touch 2750, no bulls here, just cows.

You make me lough man , i never do perhaps!Thanks ,
fontu

I have a nice long bar on the hourly that will probably be an inside bar or dark cloud reversal signals, assuming everything holds up.

My stop will be @ 1.2742 with my entry being at the low of the current candle. Take profit at 1.26 or 27 (I haven't decided if I want to place a take profit order). Of course all this assume if price will hold up to the shorts.