Attachments: EURUSD

EURUSD

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#587,981
Jan 25, 2012 6:54am Jan 25, 2012 6:54am

kimitrio
| Joined Jan 2010 | Status: Trader | 35 Posts

I see no Down trend yet, im in good price for buying

Long @ 1.2940 looking for 1.3050

#587,982
Jan 25, 2012 6:57am Jan 25, 2012 6:57am

ksensei
| Joined Sep 2011 | Status: Trader | 33 Posts

Do you guys think that FED decisions may weaken $ today and eurusd will move up?

"I am still learning" - Socrates

#587,983
Jan 25, 2012 7:04am Jan 25, 2012 7:04am

Anas99
| Joined Dec 2011 | Status: I'm The Winner | 50 Posts

haan kon bharway ka bacha isay aj he apni gand marwa k 1.32 kerwa raha tha ?

Anas Farooq

#587,984
Jan 25, 2012 7:09am Jan 25, 2012 7:09am

MaxDoom
| Commercial User | Joined Feb 2010 | 13,260 Posts

The failure to make a new high and the taking out of the 1.2952 low means that an ABC correction of the 5 wave move up from 1.2623 is now a high probability outcome.

This only becomes invalid if we now make a new high above 1.3062 (not likely at the moment)

So this is most likely still wave A so expect a turn at some point for SOME retrace then a drop back below whatever low this wave makes.

So:

if we go above 1.3062 = ABC invalid assumption

if we go below 1.2623 = ABC invalid but new downtrend in place.

DO NOT EXPECT THIS TO RUN FOR THE SKY WHEN IT TURNS.....TRADE SAFE

#587,985
Jan 25, 2012 7:13am Jan 25, 2012 7:13am

AlastorFate
| Joined Mar 2011 | Status: Trader | 441 Posts

I don't see a good area near the current price level to engage a trade. Looks like it may continue to push downwards. Ideally, I will try to get into a short position at a technical level on a pullback.

Resistance level #1: 1.2966
Resistance level #2: 1.2986
Resistance level #3: 1.3003

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'For the market to work, it needs people who think that they can beat it.'

#587,986
Jan 25, 2012 7:14am Jan 25, 2012 7:14am

covs67
| Commercial User | Joined Nov 2011 | 37 Posts

EUR/USD will suffer a downfall due to the euro zone crisis!

Forex is always risky but at last, Profitable!

#587,987
Jan 25, 2012 7:16am Jan 25, 2012 7:16am

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

Volume getting stronger under the 1,2950 support...Watch out

COT: The precious data ignored

#587,988
Jan 25, 2012 7:20am Jan 25, 2012 7:20am

Pipbumper
| Joined Jun 2011 | Status: Trader | 529 Posts

Quoting MaxDoom

Disliked

The failure to make a new high and the taking out of the 1.2952 low means that an ABC correction of the 5 wave move up from 1.2623 is now a high probability outcome.

This only becomes invalid if we now make a new high above 1.3062 (not likely at the moment)

So this is most likely still wave A so expect a turn at some point for SOME retrace then a drop back below whatever low this wave makes.

So:

if we go above 1.3062 = ABC invalid assumption

if we go below 1.2623 = ABC invalid but new downtrend in place.

DO NOT EXPECT...

Ignored

you are right and wrong, 1.3120 was the valid assumption, so I think we will see this first before 1.26..time will tell