EURUSD

EURUSD HOURLY:


http://forexportugal.wordpress.com/2...8-2010-15h00m/


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It's crazy isn't it? It's better not to think about it because if you do, you'll go crazy and will see H&S in every timeframe.
Also, there are so many failed H&S that it's just better not to think of it.

European Forex Technicals: EUR/USD To Test 1.2490 Support

25 Aug 2010, 08:21

By Francis Bray
A DOW JONES NEWSWIRES COLUMN


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


2010-08-25_European Forex Technicals.pdf (8.7 KB)




Intraday EUR/USD:

Consolidation off Tuesday's low at 1.2588 is likely to be short-lived, and will struggle to break resistance at 1.2730. Renewed bear pressure is expected on 1.2588, and a break below there would extend the short-term downtrend into fresh five-week lows towards significant pivotal support around 1.2490. Only above 1.2730 would lift the tone, opening 1.2785.

Weekly chart EUR/USD trend: Bearish.



Intraday USD/JPY:

The bear trend into fresh 15-year lows is set to extend Wednesday as support at 83.58 is likely to face renewed pressure. A break below there would expose 83.20, but there is stronger support in the 82.90 area, which marks the bull support line of a long-term diagonal triangle. Corrective gains should be beaten back by resistance in the 85.00 area, which protects 85.35.

Weekly chart USD/JPY trend: Bearish.



Intraday GBP/USD:

Bears have retained control of the near-term following the break into fresh one-month lows below 1.5465, and congested daily moving average support at 1.5350 is the immediate target. However, there is scope for a deeper setback towards 1.5320, and the more significant pivotal support level at 1.5230. Corrective gains will struggle to retest the 1.5503 resistance area, and only a break above there would lift the tone.

Weekly chart GBP/USD trend: Bearish.



Intraday USD/CHF:

Tuesday's sharp setback off 1.0451 defines the tone, and support at 1.0287 is likely to be broken. The Aug. 19 reaction low at 1.0257 lies just beneath there, but there is scope for a break into fresh seven-month lows towards 1.0220 and 1.0165. Corrective upside scope is limited to 1.0385, which is protected by 1.0338.

Weekly chart USD/CHF trend: Bearish.


Same as yesterday ... for sake of completeness I post this now - even then it is a bit too late ...

I have got building constructors in my bureau ... and they keep me away from this ... sorry for that ...

You are on 5M chart, right?

Zoom out and you will see that the H&S pattern you are looking at is not after an extensive trend, hence by definition it is not an H&S.

Further, because you say you seen them over and over again... Possibly you are seeing a ranging market?

did u manage to get in on time or are still carrying from before?

for me back to 1.2800 area and then risk.
I find it absurd that the U.S. is terrible and their currency is strong.

yes, you said that a few times already

but trade what you see not what you think

I also tend to believe a couple of other things.....

1. Oil/Gas Inventories are high because of more fuel efficienet cars - they post data based on past years usage....so think about it - if we are above the 5 year average or above the 10 year average for fuel and oil - gas mileage has improved probaby 50% in the past 10 years so would it not make sense that if they keep producing at the same rate....there is going to be a surplus......just my opinion.

2. Low Oil Price allows US to accumulate oil which they will need when they go to war with Iran

zoomed out to an hour you're right. no indication there, lots of ranging.
well, we'll see...i just wanna see price action down!

Me too. But Technical Analysis is king and therefore, we have to follow the king's orders

stock turning green

thanks for lining our pockets. trade what you see, not what you feel.

See my previous posted well defined H&S patterns on oil Dow and S&P. Also zoom out to daily to see another H&S on eu. Have a dood day.

1.2620 strong support, but hope bear will eat it.

Waiting for about 10034 DJ hopefully to short again.

ahh found it! thanks

looks like doomsday for all of the major indices. and oil too.

u didnt have a h&s highlighted there for the eurusd though?

im looking to short that again at 2650 level..what do you think...too early?

I get there that trade is what you see.
but I was doing a consideration based on the news and I think you will agree with me.
Then the bear trend is ok I see myself on the graph.
I just wanted to say that the news are always difficult to interpret and that the market sometimes makes strange surprises.

EURUSD DAILY:

stocks starting to rally