EURUSD

Its possible we might reach close to 1.35 but would be hard to close abouve that.

But I think any deal now too risky.

market still in bear mode even this big shit up but yes may bull may show the face next . failures are the pillar of success.Abstinence is best when in doubt can perform the task. lets see
fontu

if u zoom out u will find its and look at top lift u will see

I still can not understand what happened to the euro rise almost 300 pips today.

Harigp: Excellent Observation - however the weekly candle has not closed and we also cannot trade a weekly chart. In light of the technicals, we also have to look on the fundamentals.

Portugal Spain and Italy bond sales went well but we have to remember, the debt is still on the table. This retrace is the market responding to a band aid solution to the debt problem.

So as traders, we cant just look at the charts alone, we have to take everything into consideration.

Now as Politicians you cant go around saying things are bad, you have to remain optimistic and portray that, but at sometime the force of circumstances will previal.

The EUR is in very bad shape. Now because I position trade, I first identify the trend and wait for the set up and trade in the direction of the trend. That takes alot of patience to just wait for that setup.

While I sit and wait for these set ups, traders are making money on the retracement. Nothing is wrong with that. Its good money. I prefer however to wait and trade in the direction of the trend.

When you see a high probability trade setup after you have taken in all the parameters, thats when you can confidently at lots to your trade, knowing the odds are close to 90% in your favour and with the news feeds as a guide, you know when to get out of positions ahead of time.

yeah, looked at that too. after that, the last hope for the bear on my chart is 3600 on a higher TF. not trading atm. looks interesting, especially the monthly candle

It's not very unusual. Probably a combination of technicals and news pointing the same way.

doomed dixy

the 3378 area was support and may now become resistance. it is also R4 for daily pivot.. might as well wait for 4h and 1h TF confirmation.

It seems the successful bond auctions ,backing from japan and china ,ecb with hawkish comments . have all had a positive impact .

If we pass through the solid resistance at 3430 area without solid rejection then we will be looking at the extreme test of the high 3500 and the reaction there .
Getting to these levels will start to make the break to 2850 look like a fakey.the solid push through every resistance today already starting to look that way.
Tommorow is friday so could be some profit taking in the form of retrace .
we need clean break of 3500 or 2850 to give us anything other than a range for the pair.

Are we going to see 1.34XX ???

1.34074... heeeere we come!

Take a look a the USD/INDEX - its heading right back down to support, will it hold, nobody knows?

but how many times did we watch the EUR/USD try to break below 1.3080 - too many - The point Im making is Strong support is strong support.

Will the USD/INDEX strong support hold again for a fifth time - we will have to wait and see.

sorry guys too many chars what the heck


weekly if we do close above 13450's i dont we will look back for a while unless we have greece again

sure we will have some retacement but not much


i might be wrong

Hi guys,

Does anyone notice this divergence? MFI is powerfull to detect smart money. Expected to see price turn around, at least a retracement.

Regards,

In-C

im really not buying this euro rally selling I think this rally reverses in the next few days to weeks

There is this HUGE debt on the table and the EUR/USD is strengthening - WHY?

Does it make any sense? NO!

Its a stall tactic - like any good lawyer would do if you are a client - STALL - but how long can you stall for.

Greece just projected their unemployment to rise to 14.5% in 2011 - comee on people 14.5% unemployed - it keps going up up up

If you are willing to be patient - trading the forex profitably will pay off.

How patient a person are you in your every day life, reflects how patient a person you will be at trading.

im thinking it could even be later today Im feeling that prediction may play out

Some more options

d) look at weekly chart: from the top at 4281 one can count a 1,2,3,4 with a five ongoing. The five has a strange look, with waves running into each other. Either we are only in a broad wave 4 or wave 5 (which should be extended) starts with a leading diagonal. In this leading diagonal we would be in a wave 2. Then price should not exceed 3433




e) look at daily chart: either we have finishes 5 waves down and are now in a wave 2 or subwave 2 of wave 3, or - 5 waves down were not finished but only waves 1, 2, 3, now in wave 4 or in subwave 2 of wave 5


Conclusion: we do know nothing. Maybe Frodo, our dog, has the answer.