EURUSD

it could bounce in the middle. about stress time

I just want to be where the mass of the markets are.
Holding a Short but with so many doubt.

I don’t know how USD/JPY going from 86.68 to 87.50 will affect EUR/JPY .
I don´t know also, if EUR/JPY going to 113.00 from 112.10 how it will affect EUR/USD.
Maybe go back to TEST 1.3000 again ?

Will Gold move back to $1200 US again ?

Will the BOC raise rates this week ?

What happens if the RESULTS of the STRESS tests to be announced on Friday?
are BAD ? Will EUR/USD sell off ?.

So, I think we should keep our eyes in whole. For now, it is just conjecture.

Very likely . future is a function of all ?????? only & we do learn to live in the imaginary world of the next ??? and try adapt whatever we meet there .Forex is not exemption.
fontu

Everyone can draw different lines on the same chart..

It's nice to see how actual downtrend looks like uptrend too you..

Dollar going to ZERO.

Huh?
If you talking about those who have remained short from Dec '09 or further back from July '08 otherwise recent times most should have been long once June '10 bottom was put in.

Friday was a down close day so I'll need to see a lot more than that to believe downtrend has resumed. Maybe this week it will happen.

Keep in mind the mass of the markets are usually, but not always, wrong!!

Hi to all!

Could anyone help me with this, please?

I'm trying to see actual quotes for eurusd. I use these two links:

http://www.xe.com/
http://www.oanda.com/currency/real-time-rates

But they give different quotes.

So, which one is accurate?

Whichever you look at @ 500pm ET

They're not different...oanda is giving you a bid and ask..including the spread. XE..is giving you a mean price. who cares though till 5 O clock?

I trade with oanda and they're open now, those prices are accurate.

I guess I didn't drink enough coffee before checking those quotes.
You're right.

Thanks!

No prob

So, as we can see on a daily chart, we've reached 61.8% fib pullback with doji pattern right on it.

The question is: is that strong enough to suggest further down or we have reversal going up?
Guess we'll know it pretty soon.

i posted them already. no short term bias. we have been going up.. watching to see what happens at key areas posted according to pa.

...."the level" and the "one candle" just makes it a coin toss right now.......imho

agree on that. it's just showing a moment when we ask: where will it go from there?

As gator points out .....price levels and price action....will lead the way.

Well can't that be a fib level (in this case 61.8%) and Doji candle as was posted?

Although on my daily chart for Friday I have an open of 1.2946 and a close of 1.2929 which doesn't fit a Doji definition (within 5% tolerance) exactly.

Hey guys, I hope everyone had a fun weekend. I had a nice 5 hr long drive back from Cincinatti this morning, where I had a lotta time to do some thinking about the direction of this pair lol. I apologize in advance if I offend anyone by the length of this post.

The more and more I look at these charts and spec positioning data and fundamental data that is coming (ie. bank stress test), the more I am becoming bullish on this pair in the short term, mainly this week. A lot of shorts cut their positions last week as indicated by COT. I think this was partially due to options hedging that played a big role in this powerful drive to 3000. I also believe that a lot of bigger shorts will continue to liquidate this week due to a speculation that the bank tests will come out positive, which I find very hard to believe after a few portuguese banks were actually downgraded last week. Then, I think it was Saturday, Wen Jiabao apparently "pledged to back euro"

http://online.wsj.com/article/SB1000...687642600.html

this leads me to believe that China, a huge player in fx market, would be buying euros to, as the chinese gov put it, protect their currency reserves and euro denominated assets due to its role as a major factor.

Friday's trading was a little bit weird when dow and sp were offered heavily primarily due to the terrible US data that came out, and eu wasnt really being sold at all...What gives? I think it might be a shift in short term fundamentals in the euro(hope of positive stress test)....dow and eu can move in opposite directions, although it hasnt happened for a while. Apparently greece is making some progress on its budget, while EZ exports have risen sharply due to weaker euro. So the way I see it, this has gotta help them a bit or at least make traders think it is. If you look at a few pairs like ucad, uchf, au you can see that risk aversion is definetly taking place by way of usd buying, but eu is going up?....then if you look at ea, it looks like euro is certainly becoming more bullish against risk. Lotta weird stuff going on that is confusing me a bit.

Bank stress tests will definetly give euro a direction, and i think that literally anything can happen....we could see 1.40 or 1.16 very shortly. This will surely provide some high volatility, so there's no way im taking on larger risk in this weeks trades, IMO that's account suicide given the fact there are so many volatile variables/manipulations in this equation....I think Jacko said it well " It's better to get rich slowly than to go broke spectacularly fast"

Heres a chart with magnet tls and all-time fib (.83520-1.60369) Price seeks these tls and fibs, once price has passed a tl it pivots off it and heads to the next(aside from consolidation). This suggests that we are in along strong 3rd wave of this uptrend. The target of this third wave, which works perfectly in conjunction with the touch of this tl and the breach of major fib level 38 is around 3170. Where is the entry? I dunno yet, have to wait and see how pa develops, but I do like 2806....

Yeah....it can be the most exact price level and single perfect candle shape....the point I was trying to make was not to assume that these two factors alone are predictive of anything.....yet

but that's just my opinion.....and the way I trade... : )

Looking for a buy setup back inside the channel....short term looking at fib levels from 2500 -3000...and price s/r levels...

2949 will get me slighty more bullish.. if 2968 acts as resistance we could be talking about a whole new situation.