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  • #283,461
  • Aug 18, 2010 11:00pm Aug 18, 2010 11:00pm
Quoting Alihuzaifa
do u think this is head and shoulder and we are going down?
Based on last week's weekly bar, which almost engulfed the three previous bars, and the fact that EU performed a retrace to a supply zone several times and supply repeatedly exceeded demand, I anticipate that in these final two days of this week, EU will paint a bar which sits below last week's bar; and that means breaking down below the trend line you have on your chart (at some stage).

Rob
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD 15min 19 Aug 2010.jpg Size: 94 KB
Click to Enlarge Name: EURUSD Weekly 19 Aug 2010.jpg Size: 211 KB
  • #283,462
  • Aug 18, 2010 11:01pm Aug 18, 2010 11:01pm
Quoting Dillinger563
you're crazy. I hope that's a very short trade..
I buy at 1.2802 SL at 1.2775 why u think I'm crazy ? play with trend , dont play to break a trend, this first is less risk , if it break a trendline then i will be a bear
  • #283,463
  • Aug 18, 2010 11:06pm Aug 18, 2010 11:06pm
Riding the same trade.............. if against will be out on break even.............
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  • #283,464
  • Aug 18, 2010 11:07pm Aug 18, 2010 11:07pm
Quoting priceaction
Based on last week's weekly bar, which almost engulfed the three previous bars, and the fact that EU performed a retrace to a supply zone several times and supply repeatedly exceeded demand, I anticipate that in these final two days of this week, EU will paint a bar which sits below last week's bar; and that means breaking down below the trend line you have on your chart (at some stage).

Rob

I agree
When The Ducks Start Quackin..
  • #283,465
  • Aug 18, 2010 11:08pm Aug 18, 2010 11:08pm
good , I'm not alone
  • #283,466
  • Aug 18, 2010 11:09pm Aug 18, 2010 11:09pm
Quoting priceaction
Based on last week's weekly bar, which almost engulfed the three previous bars, and the fact that EU performed a retrace to a supply zone several times and supply repeatedly exceeded demand, I anticipate that in these final two days of this week, EU will paint a bar which sits below last week's bar; and that means breaking down below the trend line you have on your chart (at some stage).

Rob
Are you Rob Booker...........
  • #283,467
  • Aug 18, 2010 11:15pm Aug 18, 2010 11:15pm
Technical Analysis Daily: EUR/USD

EUR/USD 1.2813

EUR/USD Open 1.2853 High 1.2912 Low 1.2785 Close 1.2850

After further initial climb, on Wednesday the Euro/Dollar started correcting downwards. The European currency appreciated from 1.2825 to 1.2912 yesterday, matching the positive Interbank sentiment projection, at nearly +2%, than comenced dropping, closing the day at 1.2850. This morning the pair showed further weakness down to 1.2785. On the 1 hour chart new downward channel is still trying to resume, while on the 3 hour chart the upward channel was broken downwards. Break above the nearest resistance and yesterday's top at 1.2912 may trigger further recovery of the Euro. Going bellow today's bottom and first support at 1.2785, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2671. Today's focus is on Germany PPI at 6 GMT. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and consolidating, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.

Technical resistance levels: 1.2912 1.2987 1.3100
Technical support levels: 1.2785 1.2671 1.2550

Trading range: 1.2825 - 1.2760

Trend: Downward

Sell at 1.2813 SL 1.2843 TP 1.2773

from http://www.actionforex.com/analysis/...0100819120394/

happy trades for all
  • #283,468
  • Aug 18, 2010 11:18pm Aug 18, 2010 11:18pm
An article in German magazine Spiegel about Greek unrest blamed for EUR move lower. Altough I always doubt an article can drive EURUSD like that. I mean yesterday WallStreetJournal ran with:

California's top accountant said Wednesday that the state would have to issue IOUs in two to four weeks if Gov. Arnold Schwarzenegger and the state legislature don't agree to a budget by then.

State Controller John Chiang said without a new spending plan that closes a $19 billion shortfall, the state would run out of money by late October. "We will run out of money if everything remains the same," he said in an interview.

...and Cali is many times bigger than Greece.

Anyways....from London I hear S/L's both topside and downside, above 1.2960 and below 1.2750
  • #283,469
  • Aug 18, 2010 11:32pm Aug 18, 2010 11:32pm
Quoting Stier
An article in German magazine Spiegel about Greek unrest blamed for EUR move lower. Altough I always doubt an article can drive EURUSD like that. I mean yesterday WallStreetJournal ran with:

California's top accountant said Wednesday that the state would have to issue IOUs in two to four weeks if Gov. Arnold Schwarzenegger and the state legislature don't agree to a budget by then.

State Controller John Chiang said without a new spending plan that closes a $19 billion shortfall, the state would run out of money by late October. "We will run...
Run out of money!!! Is this for real?
rat
  • #283,470
  • Aug 18, 2010 11:35pm Aug 18, 2010 11:35pm
Quoting rattyo
Run out of money!!! Is this for real?
So what?



Just print some more.

  • #283,471
  • Aug 18, 2010 11:37pm Aug 18, 2010 11:37pm
Quoting Munal
Are you Rob Booker...........
No Munal
  • #283,472
  • Aug 18, 2010 11:39pm Aug 18, 2010 11:39pm
Tight trading atm.I'm waiting till this symmetrical completes before my next trade.Heres 10m
Attached Image
When The Ducks Start Quackin..
  • #283,473
  • Aug 18, 2010 11:41pm Aug 18, 2010 11:41pm
Quoting rattyo
Run out of money!!! Is this for real?
Yep, the west coast is broker than broke they're waiting for the feds to bail them out and the feds are just as broke so they are going to start giving out IOU's again they did it at the beginning of the year when they couldn't pay for their tax refunds. Those fools need to stop spending like drunken sailors. They should follow the example that NJ is setting, they are in just as much financial trouble but they're finally making some serious budget cuts.
  • #283,474
  • Aug 18, 2010 11:44pm Aug 18, 2010 11:44pm
Quoting Astroman
So what?



Just print some more.

States can't print money and legally must keep a balanced budget, but they can hope that the feds will print some for them.
  • #283,475
  • Aug 18, 2010 11:49pm Aug 18, 2010 11:49pm
Quoting jaws810
States can't print money and legally must keep a balanced budget, but they can hope that the feds will print some for them.
I forget the Sarcastic face.

Your right.
  • #283,476
  • Aug 18, 2010 11:50pm Aug 18, 2010 11:50pm
Quoting Dillinger563
Tight trading atm.I'm waiting till this symmetrical completes before my next trade.Heres 10m
Yes tight trading....but you will want to be in this one when it makes it's move up up and away. Like...Sky rockets in flight...afternoon delight!
I don't trust any move - when you have profit...take it.
  • #283,477
  • Aug 18, 2010 11:50pm Aug 18, 2010 11:50pm
eurusd wants to go up...and usdchf is going up...something ain't wrong
usdchd is just so manipulated...lol
COT: The precious data ignored
  • #283,478
  • Aug 18, 2010 11:51pm Aug 18, 2010 11:51pm
Or get some more of the stimulus money but being the hypocrites that they are they campaign against it
  • #283,479
  • Aug 18, 2010 11:53pm Aug 18, 2010 11:53pm
European Forex Technicals: JPY Under Bear Pressure

By Francis Bray

DOW JONES NEWSWIRES




http://cdn.forexfactory.com/images/attach/pdf.gif

2010-08-19_European Forex Technicals (08h23 CET) 001.pdf (12.4 KB)



Intraday EUR/USD:

Bear pressure is building on support at 1.2781, having left a bull failure high at 1.2923 Wednesday. The 1.618 extension target at 1.2758 is the immediate objective, but Monday's low at 1.2734 is looking vulnerable too. A break below there would extend the decline off the August 6 reaction high at 1.3334 towards 1.2682, but scope for 1.2605 cannot be ruled out on concerted weakness. Regaining ground above 1.2826 is required to question the immediate bear threat, opening 1.2856.

Weekly chart EUR/USD trend: Bearish.



Intraday USD/JPY:

Thursday's strength probes above 85.69 to build on the recovery off Tuesday's low at 85.11, and is tackling a short-term bear trendline at 85.81. A break above there would open the 85.97 lower high, which lies in front of the 1.618 extension target at 86.15. Weakness should be contained above 85.45, and only below there would question recovery hopes.

Weekly chart USD/JPY trend: Bearish.



Intraday GBP/USD:

Pushes below 1.5575 to bring the focus back to Wednesday's low at 1.5500. The short-term downtrend off the August 6 reaction high at 1.5998 is still intact, and a break below 1.5500 would prompt further weakness towards the 1.618 extension target at 1.5445. Backup support lies at 1.5430. A break above 1.5622 is required to question the bearish outlook and re-open Wednesday's high at 1.5687.

Weekly chart GBP/USD trend: Bearish.


;-)
Attached File(s)
File Type: pdf 2010-08-19_European Forex Technicals (08h23 CET) 001.pdf   12 KB | 369 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #283,480
  • Aug 18, 2010 11:55pm Aug 18, 2010 11:55pm
I don't know how to posts charts yet but on the 5M TL do we have a nice downward trend line taking place?
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