EURUSD | Page 27628 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #552,541
  • Oct 20, 2011 2:51pm Oct 20, 2011 2:51pm
EURO/USD is trading solely based on news.

A few days back Angela Merkel said...we shall fix the Euro problem
The market went up
The French President Nicolas Sarkozy flew to Germany because he said France and Germany were on a different path - The Euro went down
Next ECB released a memo saying they had the authority to purchase bonds - The market went up....
Next market figured out - hey but what about Greece....The market went down
Next Germany says We are sure to get a resolution....maybe latest by Wednesday....bang the market goes up...

All people are talking....and Market is going up and down with huge candles - check out the 15 minute candles...

what do you guys feel...this is not technical trading....this is fully driven by news (unscheduled news) which has nothing to do with Economic news like CPI or inflation or sales
  • #552,542
  • Oct 20, 2011 3:07pm Oct 20, 2011 3:07pm
Hi all!

Seems like the H&S on H4 got invalidated, didn't look much like one anyway.

The pair has been struggling between what some here are indicating, a triangle. Slightly descending. Or even a diamond.

What does this mean? Is it a continuation or reversal pattern? Does this signal that a break down OR up is more likely? Could we see a "solution" within tomorrow OR in the beginning of next week?

The breakout should happen within 75% fulfilled formation. Depending on when one starts to see the outer rims of that formation. Then there might be a breakout already tomorrow before market close...

Comments greatly appreciated!

Thanks!

Attached Image
  • #552,543
  • Oct 20, 2011 3:08pm Oct 20, 2011 3:08pm
HI! Seems like we in flat market until monday. So 1.38-1.38.3 is good area for short with tight stop loss. If we get to 1.3650 can go long.What do you guys think?
  • #552,544
  • Oct 20, 2011 3:28pm Oct 20, 2011 3:28pm
Quoting shortcut77
The breakout should happen within 75% fulfilled formation.
Attachment
This is a great rule of thumb when it comes to trading patterns.

The only think making a clear picture now is the Dollar Index, forming a diamond on 1h chart. If the green line hold, we will most likely see bullish dollar for the next few week which means bearish eur/usd since its a reversed mirror compared to USDX.

Red horizontal line is bullish divergence target.
Attached Image (click to enlarge)
Click to Enlarge Name: DX ##-## (60 Min) 20_10_2011.jpg Size: 60 KB
Measure twice, cut once
  • #552,545
  • Oct 20, 2011 3:51pm Oct 20, 2011 3:51pm
Quoting Serge Pe
HI! Seems like we in flat market until monday. So 1.38-1.38.3 is good area for short with tight stop loss. If we get to 1.3650 can go long.What do you guys think?
well it is a news driven market right now..no one knows..we just have to wait and see....

it is a it and run market or stand aside..
  • #552,546
  • Oct 20, 2011 3:54pm Oct 20, 2011 3:54pm
Quoting shortcut77
Hi all!

Seems like the H&S on H4 got invalidated, didn't look much like one anyway.

The pair has been struggling between what some here are indicating, a triangle. Slightly descending. Or even a diamond.

What does this mean? Is it a continuation or reversal pattern? Does this signal that a break down OR up is more likely? Could we see a "solution" within tomorrow OR in the beginning of next week?

The breakout should happen within 75% fulfilled formation. Depending on when one starts to see the outer rims of that formation....

after today's swings hard to tell.. looks like a wedge..pending break out.. risk is off imo overall london and ny are key
  • #552,547
  • Oct 20, 2011 4:15pm Oct 20, 2011 4:15pm
Quoting shortcut77
Hi all!

Seems like the H&S on H4 got invalidated, didn't look much like one anyway.


Comments greatly appreciated!

Thanks!

Attachment
Patterns are always slightly subjective, but the way you've drawn your lower TL seems arbitrary in that you've connected a line out of the present range in order to define the bottom.

The bottom of this range is flat, and the top is indeed descending.

So yep, that's a descending triangle, which is a bearish formation.

The technical entry is after break and retest of the bottom. I like to use a simple ABC entry for these kinds of retests, keeps me out of trouble in case of throwback.

Obviously, things don't have to go this way. Its just my best look pattern-wise right now.
Attached Image (click to enlarge)
Click to Enlarge Name: eudescending.jpg Size: 73 KB
  • #552,548
  • Oct 20, 2011 4:15pm Oct 20, 2011 4:15pm
Quoting shortcut77
Hi all!

Seems like the H&S on H4 got invalidated, didn't look much like one anyway.
The pair has been struggling between what some here are indicating, a triangle. Slightly descending. Or even a diamond.
What does this mean? Is it a continuation or reversal pattern? Does this signal that a break down OR up is more likely? Could we see a "solution" within tomorrow OR in the beginning of next week?
The breakout should happen within 75% fulfilled formation. Depending on when one starts to see the outer rims of that formation. Then...
Thanks for nice analysis, shortcut77.
I think price would like to re-test again 1.36500 area.
That will be key point for tomorrow trading.
There are many “events” coming on tomorrow so probably that will be another impulse.
The overall momentum is getting bearish, lower highs & constant lows…
I think tomorrow London’s opening will be very interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 97 KB
Read Charts - Not Papers
  • #552,549
  • Oct 20, 2011 4:26pm Oct 20, 2011 4:26pm
1.3650 is likely to be a short term support. Re-test is possible but just by looking at the chart this area has been propped up 3 times since last week. I think this uphill and downhill sentiment from the bailout package should be well contained above 1.3650.
  • #552,550
  • Oct 20, 2011 4:35pm Oct 20, 2011 4:35pm
[quote=kuroro001;5058660]To me the area 1,3880 until 1,3900 is a wanted area by b I respect your good sense of analysis .I quite agree with you.But if price finds resistance at 1.3840 and comes down below daily pivot, eu may tank heavily.Just for you to take note of that.I need to tell you this because I agree with your areas of reversals 1.3880 and 1.3900
With patience and discipline,you move beyond the sky
  • #552,551
  • Oct 20, 2011 5:15pm Oct 20, 2011 5:15pm
I made 6k+ since yesterday trading. Now im going to short euro 1.3796 target 1.37
Attached Image (click to enlarge)
Click to Enlarge Name: euro.jpg Size: 235 KB
There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #552,552
  • Oct 20, 2011 5:24pm Oct 20, 2011 5:24pm
Haha i told you, eurusd is good time to short now. Now im up again 2+ pips
Attached Image (click to enlarge)
Click to Enlarge Name: test.jpg Size: 235 KB
There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #552,553
  • Oct 20, 2011 5:26pm Oct 20, 2011 5:26pm
Quoting bdsilvano
I made 6k+ since yesterday trading. Now im going to short euro 1.3796 target 1.37
Is Mbt Desktop realy good?
since when you use it?
  • #552,554
  • Oct 20, 2011 5:26pm Oct 20, 2011 5:26pm
Should see a bounce at 77
  • #552,555
  • Oct 20, 2011 5:29pm Oct 20, 2011 5:29pm
15+ pips positive. Shorting euro
Attached Image (click to enlarge)
Click to Enlarge Name: test.jpg Size: 236 KB
There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #552,556
  • Oct 20, 2011 5:30pm Oct 20, 2011 5:30pm
I will sell 3827...
  • #552,557
  • Oct 20, 2011 5:31pm Oct 20, 2011 5:31pm
Quoting eliabreu
is mbt desktop realy good?
Since when you use it?

mbt is the best, ive been using this since 3 years now
There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #552,558
  • Oct 20, 2011 5:34pm Oct 20, 2011 5:34pm
if we breach 1.375 now, surely we will go on 1.37
There is Time for Bull, and Time for Bear. and so be the Wolf.
  • #552,559
  • Oct 20, 2011 5:45pm Oct 20, 2011 5:45pm
I think we are in a range until the wknd.. I dont see any break out above or below as 1.36 held... look to test the midpoint. If not, we may go higher to the 1.39's. Look for a short around that area...otherwise, ranges can go either way.


On the very short term....nice floor at 1.3765
  • #552,560
  • Oct 20, 2011 5:45pm Oct 20, 2011 5:45pm
21+pips positive.. nice morning....
There is Time for Bull, and Time for Bear. and so be the Wolf.
2,112 traders viewing now, 1 is registered:
F.g