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  • #240,781
  • May 12, 2010 4:18am May 12, 2010 4:18am
2010-05-12_European Forex Technicals : No Respite For Beleaguered EUR

12 May 2010, 08:32



http://cdn.forexfactory.com/images/attach/pdf.gif 2010-05-12_European Forex Technicals.pdf (8.9 KB)



Intraday :


EUR/USD :


Extends the sharp reversal off Monday's high at 1.3095, and while the 1.2750 lower high remains intact, renewed bear pressure is likely to head for the 2010 low at 1.2510, set on May 6. Due to the inability to stage any meaningful rally since setting the 1.3095 high, the dominant threat is for a break below 1.2510 to test the 2009 low at 1.2457. Regaining ground above 1.2750 is required to provide a near-term boost, opening 1.2803.

Weekly chart EUR/USD trend: Bearish.




;-)



Good luck - macht etwas daraus Jungs !


Excuse me for beeing a bit late with this - but trading has priority - and yes Cable was much more funny within the last days sessions. And some other pairs as well. You are absolutely right. I often thought about the possibility to post something about the whole market situation we are involved with. But I think this place is not suitable for such things. Der Kiosk ist mir etwas zu pöbelhaft und nicht diskret genug, damit auch nicht genügend der Sache dienlich.








Tut mir leid
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File Type: pdf 2010-05-12_European Forex Technicals.pdf   9 KB | 321 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #240,782
  • May 12, 2010 4:20am May 12, 2010 4:20am
I have to get some sleep. I'm out for a nap before I head into the office to start my full trading day. Will watch the market like a hawk for the shorts and I'll talk with everyone in a few hours.
  • #240,783
  • May 12, 2010 4:20am May 12, 2010 4:20am
gold has some nice divergences in the lower tf
Pecunia non olet
  • #240,784
  • May 12, 2010 4:21am May 12, 2010 4:21am
Quoting mercy seat
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


not easy to read what price wants to do the old 2736 would have worked and I honestly thought with all the good numbers we would get much higher ten this. €chf is really working as a good indicator lately so I am watching it closely and trading it too just took 4.5 pips short.
We will see....
Good trading to you
Tcat
Trade on your own risk Plan your trade&trade your plan dont be a
  • #240,785
  • May 12, 2010 4:23am May 12, 2010 4:23am
tp 1.3 .....any1 else long ?
  • #240,786
  • May 12, 2010 4:26am May 12, 2010 4:26am
Quoting Jhig
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.
H1 still have remants of the bull & m30 also while lower tf took bear side .some zigzag play may be here .
lets do , going to bring back my kid from school . check later.
trade well all ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #240,787
  • May 12, 2010 4:26am May 12, 2010 4:26am
yes.... me... but I dont know whether it was the right decision. I usually believe in my intuitions...and read the charts published here. But put it into action.. its another thing. In the morning I definately felt go for long. I did not do. Now I can only believe and hope... running after my money
  • #240,788
  • May 12, 2010 4:31am May 12, 2010 4:31am
I wonder whether the banks that drive FX are being a little melodramatic here. I mean, the news tonght, although good for the EZ, isn't good enough to turn the tide on it's own. The Italian GDP was 0.2% better than forecast, and while that is good, it's not enough the reverse the trend on it's own. I wonder if a little good news for EZ amoung the mountain of bad news is being made into something bigger than it really is?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #240,789
  • May 12, 2010 4:35am May 12, 2010 4:35am
Quoting perrier
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.
OsMA, Momentum and MACD shows a sign of a bullish divergence. Its not reverse..Ill open a short entry when new divergence (bearish) develops or at ADX crossing
  • #240,790
  • May 12, 2010 4:36am May 12, 2010 4:36am
Quoting macsetta
yes.... me... but I dont know whether it was the right decision. I usually believe in my intuitions...and read the charts published here. But put it into action.. its another thing. In the morning I definately felt go for long. I did not do. Now I can only believe and hope... running after my money
wrong wrong wrong never never ever do this running after a trade you will only loose. You might get lucky this time but then you get used to it and vola margarine call.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #240,791
  • May 12, 2010 4:39am May 12, 2010 4:39am
Quoting macsetta
yes.... me... but I dont know whether it was the right decision. I usually believe in my intuitions...and read the charts published here. But put it into action.. its another thing. In the morning I definately felt go for long. I did not do. Now I can only believe and hope... running after my money
i think its going to retest MS1 , some correction must happened sooner or later
  • #240,792
  • May 12, 2010 4:40am May 12, 2010 4:40am
Quoting macsetta
Now I can only believe and hope... running after my money
Don't chase bad prices.

Quoting T@rantula
OsMA, Momentum and MACD shows a sign of a bullish divergence. Its not reverse..Ill open a short entry when new divergence (bearish) develops or at ADX crossing
Is there an indicator you don't use?
  • #240,793
  • May 12, 2010 4:40am May 12, 2010 4:40am
Quoting Trading Cat
wrong wrong wrong never never ever do this running after a trade you will only loose. You might get lucky this time but then you get used to it and vola margarine call.

Thanks a lot... you are absolutely right. To tell the truth I am trying to get back the money alone, which I lost by the help of a "talented" broker... So what would you suggest? I know that at the moment i am against the trend. But shall I close the position or wait for some retrace? Thanks a lot. I have learnt a lot, lot, lot from you all.
  • #240,794
  • May 12, 2010 4:40am May 12, 2010 4:40am
Quoting realjumper
I wonder whether the banks that drive FX are being a little melodramatic here. I mean, the news tonght, although good for the EZ, isn't good enough to turn the tide on it's own. The Italian GDP was 0.2% better than forecast, and while that is good, it's not enough the reverse the trend on it's own. I wonder if a little good news for EZ amoung the mountain of bad news is being made into something bigger than it really is?
Maybe the EU money is being spent turning small reactions into big reactions instead of using technical analysis. I would have expected them to outright fool everyone by taking advantage of technical analysis but who knows...
  • #240,795
  • May 12, 2010 4:40am May 12, 2010 4:40am
Quoting vanyxster
tp 1.3 .....any1 else long ?
#240388
  • #240,796
  • May 12, 2010 4:40am May 12, 2010 4:40am
Quoting realjumper
I wonder whether the banks that drive FX are being a little melodramatic here. I mean, the news tonght, although good for the EZ, isn't good enough to turn the tide on it's own. The Italian GDP was 0.2% better than forecast, and while that is good, it's not enough the reverse the trend on it's own. I wonder if a little good news for EZ amoung the mountain of bad news is being made into something bigger than it really is?
I'm 100% with you, that's why I'vwer just been watching the market. I can't believe we are seeing EU up... Maybe it's to slow the fall and to prevent more panic... I believe we will see new lows, but not as the same rate we saw them last week. Do I make myself clear?
  • #240,797
  • May 12, 2010 4:42am May 12, 2010 4:42am
Quoting Mr J
Don't chase bad prices.



Is there an indicator you don't use?
LOLOL, my approach is to try to use less indicators, not more. Besides, instead of using ADX, you could always do your peak and trough analysis. But whatever, to each his own I guess.
  • #240,798
  • May 12, 2010 4:43am May 12, 2010 4:43am
Quoting T@rantula
OsMA, Momentum and MACD shows a sign of a bullish divergence. Its not reverse..Ill open a short entry when new divergence (bearish) develops or at ADX crossing

I plan to enter a small long near the bottom. Right now, I am just watching.

Will be buying to sell later. Definitely not looking for a reversal maybe a bigger pullback.
  • #240,799
  • May 12, 2010 4:45am May 12, 2010 4:45am
The big boys are having a big fight, we just have to wait and see whom will win. I have two line that need to broken. 2712 and 2708. Before I a going long.
He who fears being conquered is sure of defeat - Napoleon Bonaparte
  • #240,800
  • May 12, 2010 4:48am May 12, 2010 4:48am
Long 1.2688...for a move up to 1.2740...stop at 1.2670
COT: The precious data ignored
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