EURUSD

I wonder how long it's going to take for people to get the message that the euro is INCAPABLE of a bullish rally.

It's amazing how many times a mere correction has been taken by the community as a "bullish rally."

A miracle would have to occur to warrant anything like that.

Thankfully, I have continued to maintain my short E/J position and have enjoyed watching the "green" number continue to increase over time.

I have to admit though, about 12 hours ago I was getting just a tad nervous that the price was really headed further up. But then of course, it all came crashing down just like I hoped and anticipated that it would.

Now back to selling the shit out of the euro.

Forex gods bless.

This is just technical. News for the most part has been priced in. I’m just thinking that big money could move this a bit more to enter long lower and also taking into account when most robots trigger a deal. The slow stock on shorter time frame 15m is pushing hire but price has not cleared the 1.2691/93 high from a few hours ago even though stock is higher now.

I’m just not ready to close this out just yet as it could be a bad spot for me to go long. Will wait and see

French downgrade confirmed to AA+
Live on CNN

Fundamentals are the only thing that matters in an environment like this.

I agree that in this case fundies have the upper hand. I went short at 1.2865 so I’m willing to risk some of my gains since techs allow it. I’m not implying anyone should go short, I’m just willing to risk some of my profits in case it gets pushed lower to the 1.2600/2575 but that does not mean I won’t close out before that.

Strike gold when it should be H4 chart touching EMA 70

H1 chart pin bar

Most likely we'll open with a GAP down on Sunday (1.2590?)

French downgrade confirmed, where's the market reaction?

Seems to be an illusion out there that this EUR cant soar.

Below you will find a little reminder from the the crash of 1929 of what the supposed "experts" were saying then.

The lesson is anything can happen, and especially when you least expect it so beware.



"Both the mini-crash and the naysayers were nearly forgotten when the market surged ahead during the summer of 1929. From June through August, stock market prices reached their highest levels to date. To many, the continual increase of stocks seemed inevitable. When economist Irving Fisher stated, "Stock prices have reached what looks like a permanently high plateau," he was stating what many speculators wanted to believe.

On September 3, 1929, the stock market reached its peak with the Dow Jones Industrial Average closing at 381.17. Two days later, the market started dropping. At first, there was no massive drop. Stock prices fluctuated throughout September and into October until the massive drop on Black Thursday."

Hasnt been announced yet offically by S&P but already priced in anyway

H1 chart

I thought the admission by the French Finance minister was official confirmation.

I wonder if the Asian agree with the Price in, the EURUSD has hardly moved in the past 3 days of Asian trading, will be interesting to see their reaction on sunday night (eu time)

Yep, as I thought, officially announced and no movement... Priced in.

Of course! That good ole 70 ema that everyone watches!

this news is going to be positive or negative for euro?

What news? The "news" happened hours ago. Who knows what's coming next? I'd suggest that any rallies in the euro are worth selling at least until 1.25.

my thoughts as well..

It's interesting that we are approaching the 38.2% fib extension level for the main daily trend. Whether 38.2 will make a difference or not I don't know, I see 1.25 first.

Well the last couple days have been a nice ride. Got hammered on a audusd buy that hit sl while sleeping last night but otherwise a great week.

Have a great weekend everyone

http://www.cbc.ca/news/world/story/2...hirteenth.html