EURUSD

He thinks it's going down. In any case, selling near the top of a rally likely means a good price, so if the trade goes wrong, the loss will be minimal, and possibly see a profit.

55.5 PMI. I can imagine that one should buy in order to scalp, but someone please translate the figure so I can understand it better.

Well.........I also don't get it, really, but.........you have to admit - it sounds cool, doesn't it?.

USD-JPY forms "H&S"

Alright.

Anyway... the market is BORING!!! 15pips up - 15pips down... (sigh)
I'm still out of trade tho... looking for some reliable spot to hop on...

Except that H&S pattern usually forms at uptrend's TOP and so inverted H&S at BOTTOM of downtrend. Be careful, because with this fault you can find false H&S patterns anywhere!

Fiber is boring? What about mexican peso?:

5sec chart:

HAHHA...

I really want to know who's that genius that can trade on this pair...

Wouldn't have taken in account the spike.

Your entry is too closed to a Support zone.

What's your opinion on mine?

I still have the same opinion that TOP of the uptrend is the place where you need to look for H&S pattern... not in sideways and so after downtrend moves...

I'm just sayin...

Becoming real patience game , trying to break our nerves to suffer indecision & indigestion .Ok , set tp at 2508, go up to 2583 or down 1.2482 price should come across here .
waiting & waiting for only few pips, no problem.
fontu

Thats a tricky entry a large support zone u have on the left but then again a break of tl i would watch the price action if i would take that...

Last Fridays mixed non-farm payrolls data from the US showed a fall of 125k jobs in June and an unemployment rate of 9.5%. The market has moved away from the debt problems in Europe and has started to focus on the slowdown in the US economy. This is likely to remain the case until the European banks stress testing is released later this month to once again put focus back onto debt problems in Europe. The less than expected demand from European banks for the ECB three month lending facility last week helped the Euro higher however there where 171 banks making use of the facility highlighting that bank stress tests could cause fresh issues for the markets. With the US markets closed today we could see a quiet start to the week but later in the week we have several interest rate meetings most notably from Australia tomorrow and the ECB and Bank of England on Thursday. None of these meetings are likely to produce rate adjustments with policy makers continuing to prefer to see if we get double dip recessions. Trichet has said over the weekend that austerity measurers will not dampen growth but instead boost confidence and added that he did not see Europe facing another period of recession. Many are seeing this Euro rally as short term respite as aid packages will be given to several European countries from the ECB and IMF in order to prop up debt ridden economies. Over night has been very quiet with EURUSD opening at 1.2560 before drifting slightly lower similar with the GBPUSD starting the week at 1.5205 and drifting lower towards 1.5175. EURGBP hovers around 0.8265.
Data due Today

09.30 – UK PMI services (jun) exp 55
10.00 – EC Retail Sales (may) exp 0.3%
05.30 – Tuesday RBA Interest rate decision No change exp 4.5%

I'm sorry everybody, but I can't find any real H&S pattern here... There is a downtrend before and then sideway moves...

I don't want to kill your joy, buddies!

Remember... trade what you see, not what you WANT to see!

You are correct on that, a sidewards shampoo wouldn't give me lots of confidence.

Remember to not to look into a chart for too long. After a while, you start 'seeing things'.

EURUSD Outlook
EURUSD corrective rally to target 1.27, providing a renewed selling opportunity

Market reaction to the NFP report was fairly muted as payroll numbers were in line with expectations. These had been revised down following the weak ADP numbers. The NFP numbers was -125k vs. 431k in May and the change in private payrolls was 83K, up from 41k in the previous month.

EURUSD failed to hold above 1.26 even as position reduction continued, suggesting some fatigue. However amid continued risk aversion in the market, there is still the potential for a move towards the 1.2700/1.2750 area in the coming days.

Hence, we have switched our near-term strategy to buying dips. But we remain bearish over the medium to longer term and would look to use the anticipated rebound towards 1.2750 to re-establish strategic short positions. Despite the current global growth concerns, we believe that the amply liquidity provided by the major central banks and the ability of Asia to maintain the current pace of growth will be supportive of risk appetitive over the medium term, suggesting that the euro will remain under pressure given its status as a funding currency.

is anyone else on here paitiently waiting for support @ 1.2500, -or- 1.2483 ?

That's an IDEAL view for playing out of the inverted shampoo...
Hope to see something like that... I'm fed up with non-technical movements on the pair!

Any comments?

cheers

.