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  • #663,661
  • Jul 1, 2012 8:58pm Jul 1, 2012 8:58pm
We're currently in the 1.262x which a serious buy zone, if it breaks below I would go short imo.
  • #663,662
  • Jul 1, 2012 8:59pm Jul 1, 2012 8:59pm
Below are the screens of my platform, first is the one of the daily where the downtrend is depicted by the EMAs, recent opening price action have showed some rejection to the 50 days EMA to the downside, although Friday's bullish overextended candle makes some pressure north.

http://1.bp.blogspot.com/-AqNf48i8PI...07-01+-+01.gif

I still feel the 1.2740 as a good place to look for better confluence on resistance.

Below is the 4 hourly chart, and as price has climbed higher pushing the CCI on overbought territory and creating some divergence, a couple candles have closed above the 200 EMA.

http://2.bp.blogspot.com/-s9uA6-MSmF...07-01+-+02.gif

Technically a bullish chart, but in conflict with the daily, the most recent retracement to the 200 EMA might signify a retest over it, we will have to wait for price action to show the way, 1.2740 does not seem too far from here now. In short conflicting timeframes, no trades for me for the moment although I am bearish on daily.
  • #663,663
  • Jul 1, 2012 9:01pm Jul 1, 2012 9:01pm
hey everyone im back from my 2 week vacation!

i hope everybody is doing good. i just wanted to know if someone could explain what happened yesterday because i was completely disconnected from the news and everything...

i actually just got home and this is the first thing im doing hahaha.. don't even want to get some sleep!
Daily Target: 20 pips
  • #663,664
  • Jul 1, 2012 9:06pm Jul 1, 2012 9:06pm
Quoting Eric D
Below are the screens of my platform, first is the one of the daily where the downtrend is depicted by the EMAs, recent opening price action have showed some rejection to the 50 days EMA to the downside, although Friday's bullish overextended candle makes some pressure north.
do you mind explaining why the 50days EMA is a good indicator for the daily chart? Historically, it never serves as a solid level of resistance or support
Daily Target: 20 pips
  • #663,665
  • Jul 1, 2012 9:07pm Jul 1, 2012 9:07pm
Has anyone heard on new fundamentals this weekend worthy or the EURO holding it's gains? 220 pips maybe a good take profit at least before london. With a 35 pt gain in S&P and 220+ on DOW combined with uncertainty may mean risk off unless some news comes out.

What do you guys think?
  • #663,666
  • Jul 1, 2012 9:19pm Jul 1, 2012 9:19pm
Quoting pip_trader
Has anyone heard on new fundamentals this weekend worthy or the EURO holding it's gains? 220 pips maybe a good take profit at least before london. With a 35 pt gain in S&P and 220+ on DOW combined with uncertainty may mean risk off unless some news comes out.

What do you guys think?
Personally I would be cautious only relying on TA, given that Fridays spike was not made on any definitive outcome from the 20th EU summit and fundamentally nothing has changed with Europe in recession and no action taken to reduce debt. Ie kicking the can further down the road, each kick shorter than the previous one
  • #663,667
  • Jul 1, 2012 9:20pm Jul 1, 2012 9:20pm
euro/usd will continue it's decline.....this is a fact....do not listen to news....read the charts, the charts tell everything, go to a monthly chart, u realise that it is in a downtrend
  • #663,668
  • Jul 1, 2012 9:30pm Jul 1, 2012 9:30pm
Quoting slow_trader
euro/usd will continue it's decline.....this is a fact....do not listen to news....read the charts, the charts tell everything, go to a monthly chart, u realise that it is in a downtrend
well, yes it might declince, however specially on EUR/USD you have to take care on the fundamentals and things like the EU summit and not only watch on technical analysis....otherwise you will lose money...
Get rich or die tryin!
  • #663,669
  • Jul 1, 2012 9:35pm Jul 1, 2012 9:35pm
Quoting fxanonymous
do you mind explaining why the 50days EMA is a good indicator for the daily chart? Historically, it never serves as a solid level of resistance or support
You are right, don't trade based on it if you see no other reason to do it, it is not important by itself, just when enough people have used it to trade you see a reaction like the one on the chart and even then, as you stated, it is not solid alone.. I look for confluences, thank you for the interest.

Below is a sample chart from my blog where I used it in tandem with other indicators.

http://2.bp.blogspot.com/-WHM4HdXfs7...06-28+-+01.gif
  • #663,670
  • Jul 1, 2012 9:36pm Jul 1, 2012 9:36pm
Quoting slow_trader
euro/usd will continue it's decline.....this is a fact....do not listen to news....read the charts, the charts tell everything, go to a monthly chart, u realise that it is in a downtrend
Short term seems to me to be ranging but long term it's probably going down.
  • #663,671
  • Jul 1, 2012 9:41pm Jul 1, 2012 9:41pm
Quoting Iro
We're currently in the 1.262x which a serious buy zone, if it breaks below I would go short imo.
Just my thinking but i don't see any worthwhile buying
to come in untill we hit 2580,we'll see what she's
got then.
You can remain irrational longer than you can remain solvent.
  • #663,672
  • Jul 1, 2012 9:48pm Jul 1, 2012 9:48pm
Quoting jezek5
Just my thinking but i don't see any worthwhile buying
to come in untill we hit 2580,we'll see what she's
got then.

Buy 1.2580? What? The EUR/USD isn't a buy anywhere. In 6 months it might go to 0.00. Why would you risk that for, what, 50-200 pips?

Trade the Aussie and the Kiwi instead, save yourself and your account a lot of stress.
  • #663,673
  • Jul 1, 2012 9:52pm Jul 1, 2012 9:52pm
Quoting laffin2bank
Buy 1.2580? What? The EUR/USD isn't a buy anywhere. In 6 months it might go to 0.00. Why would you risk that for, what, 50-200 pips?

Trade the Aussie and the Kiwi instead, save yourself and your account a lot of stress.
Idiot!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #663,674
  • Jul 1, 2012 9:55pm Jul 1, 2012 9:55pm
The euro is going to retrace a significant amount today, I would never go long after what we seen on friday
  • #663,675
  • Jul 1, 2012 9:57pm Jul 1, 2012 9:57pm
Quoting laffin2bank
Buy 1.2580? What? The EUR/USD isn't a buy anywhere. In 6 months it might go to 0.00. Why would you risk that for, what, 50-200 pips?

Trade the Aussie and the Kiwi instead, save yourself and your account a lot of stress.
Back off the ledge boss
  • #663,676
  • Jul 1, 2012 9:58pm Jul 1, 2012 9:58pm
Quoting KillerWhale
Idiot!
Do you know (literally) anything about the eurozone, at all?

Why would you ever buy a Euro, ever? You're calling me an idiot is actually laughable.
  • #663,677
  • Jul 1, 2012 9:59pm Jul 1, 2012 9:59pm
Quoting laffin2bank
Do you know (literally) anything about the eurozone, at all?

Why would you ever buy a Euro, ever? You're calling me an idiot is actually laughable.
TA is great but if you're too stupid to see the tidal wave coming you should get out of this business.
  • #663,678
  • Jul 1, 2012 9:59pm Jul 1, 2012 9:59pm
Quoting laffin2bank
Do you know (literally) anything about the eurozone, at all?

Why would you ever buy a Euro, ever? You're calling me an idiot is actually laughable.
  • #663,679
  • Jul 1, 2012 10:06pm Jul 1, 2012 10:06pm
Quoting laffin2bank
Do you know (literally) anything about the eurozone, at all?
Maybe I know a tiny bit. I lived there for 46 years.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #663,680
  • Jul 1, 2012 10:07pm Jul 1, 2012 10:07pm
Quoting laffin2bank
TA is great but if you're too stupid to see the tidal wave coming you should get out of this business.
Big words for someone in trading diapers
New voice message: Why are you calling me? If I need you, I'll call you!
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