Watch This - at least this video will give you an idea for the direction of EURO for the longer term
http://www.youtube.com/watch?v=2Q1R35WXZLc
enjoy the video
http://www.youtube.com/watch?v=2Q1R35WXZLc
enjoy the video
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Dislikedon 2nd look, once we reach the daily 200ema, the 1hour 200ema will probably be sitting around the latest point of what is now resistance at 6245 which is exactly the 68.2 retrace on the daily and is clearly respected as such on the 1 hourly timeframe.Ignored
DislikedIdea for next few days on 1 hour chart. Crude i know but I don't know about drawing tools available to me. Lower red line is daily 200ema at 1.6 whole number and highs of August last year. back up to current 61.8 retrace, resistance zone and base of head and shoulders pattern and where 1 hour 200ema should be by then. After this, it could head furthe up to the 4 hour 200ema or back down, not sure. Any thoughts?Ignored
DislikedIdea for next few days on 1 hour chart. Crude i know but I don't know about drawing tools available to me. Lower red line is daily 200ema at 1.6 whole number and highs of August last year. back up to current 61.8 retrace, resistance zone and base of head and shoulders pattern and where 1 hour 200ema should be by then. After this, it could head furthe up to the 4 hour 200ema or back down, not sure. Any thoughts?Ignored
Dislikedhello,
sorry for my question i could be wrong, just need to share it.
isn't it neckline in 6162 (near) line?Ignored
DislikedI see what you are saying. If you take the extremes of price movement then yes. I tend to focus on multiple reasons for a decision and look at where the mass of whipsaw action takes place. I see 6245 as the base since this is the area of what was the most recent area of support (to the left of the body) that has now become resistance and whipsaw activity, it is also the 61.8 retrace on the daily which price closed below on Friday. I feel this could be be a sub important zone for the day / swing trader for the next few days or more.Ignored
Dislikedi agree on daily 61% fibo and daily ema 200 are 2 good levels to think on a up/down into this area.
i drawn and wrote it big on my chart, near those levels price can give good pullbacks
6060 is also 85,4% same retrace.
i think will be both tested next daysIgnored
DislikedI have to calculate it
I think I posted a really long term calculation some months ago but I am to lazy to look for it now
I will re=do it as soon as possibleIgnored
Disliked6044-6750 has a huge potential for massive pips as an oscillator in the mid termIgnored
DislikedThanks - MrleeForex really very interesting.
Funny, I was going to point out that in my view the Euro is still going down to around 13900 and then I read Sive Morton signal just now:
There is a bearish context. Probably market will reach 1.3950 area before any pullback could start. Anyway, we need some turning in intraday momentum, prior to even think about long positions.
So with the poor economic news weighing cable down as well as the fact that no sign of interest rate rise, I can't see any reason to buy GBP also at the moment!
Still...Ignored