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  • #666,081
  • Jul 6, 2012 5:23am Jul 6, 2012 5:23am
Quoting vickym
The current price zone does look like demand zone to me if you notice the 1H chart. Dont see anything wrong with a long here imo

Cheers

you would not say that based on the fact that high impact news is forthcoming, its a gamble either way ? long or short
Not on the rug!
  • #666,082
  • Jul 6, 2012 5:25am Jul 6, 2012 5:25am
Today U.S unemployment rate migth be 8.1%. if so that would drive euro to 1.2330 level. at that level i am buying long to 2430.
next week i see a open doors for bulls. it cant fall and fall. bad sentiment of yesterday rate cut is passing over.
  • #666,083
  • Jul 6, 2012 5:25am Jul 6, 2012 5:25am
Quoting PooOnTheRug
you would not say that based on the fact that high impact news is forthcoming, its a gamble either way ? long or short
probably wont happen much before nfp
  • #666,084
  • Jul 6, 2012 5:29am Jul 6, 2012 5:29am
Dont forget about china GDP. its expected 7.6% from 8.1%
bearish for euro. but this is next friday
  • #666,085
  • Jul 6, 2012 5:34am Jul 6, 2012 5:34am
Quoting pip_trader
Finland's Finance Minister said they would consider leaving Euro instead of paying of debts of other countries.
Any reference to this?

Joe
  • #666,086
  • Jul 6, 2012 5:35am Jul 6, 2012 5:35am
Quoting Trader88q
Today U.S unemployment rate migth be 8.1%. if so that would drive euro to 1.2330 level. at that level i am buying long to 2430.
next week i see a open doors for bulls. it cant fall and fall. bad sentiment of yesterday rate cut is passing over.
Really? The ADP Non-Farm payroll was 176k. I heard that if the US actually gained this much - ADP often differs from BLS report - that the unemployment may not even move.

The rate cut may be fading, but the fact Draghi indicated areas of Europe that were not as affected as others are now seeing growth slowdown is bad. Lagarde also said something similar. That is what should altimately affect the Euro.
  • #666,087
  • Jul 6, 2012 5:36am Jul 6, 2012 5:36am
Confused what to do next? Maybe this helps:

S&P 500:
"S&P 500 – Prices completed a bearish Evening Doji Star candlestick pattern at the top of a Rising Wedge chart formation, hinting a move lower is ahead. Initial support lines up at 1363.90, with a break below that exposing the 1334.40-41.90 area. A daily close beneath the latter boundary will confirm the larger Wedge setup, opening the door for a larger reversal. Wedge top resistance is now at 1381.30, with a break above that exposing 1392.10."
http://media.dailyfx.com/illustratio..._Picture_5.png

US Dollar:
"Prices are testing falling trend line resistance set from late May, with a break higher exposing the 38.2% Fibonacci expansion at 10219. Near-term support lines up in the 10032-67 area. A break below that exposes multi-month rising trend line support, now at 9940."
http://media.dailyfx.com/illustratio..._Picture_8.png

Source: http://www.dailyfx.com/forex/technic...art_Setup.html
  • #666,088
  • Jul 6, 2012 5:36am Jul 6, 2012 5:36am
Heads up for US unemployment 1230 GMT

8.2% Expected.
  • #666,089
  • Jul 6, 2012 5:38am Jul 6, 2012 5:38am
Quoting Oilman0727
Heads up for US unemployment 1230 GMT

8.2% Expected.
I'm hoping for an appalling NFP number and 9% unemployment.
  • #666,090
  • Jul 6, 2012 5:40am Jul 6, 2012 5:40am
Bought here @ 2376 and will add @ 2333 SL for me @ 2295 TP open so far

http://www3.0zz0.com/2012/07/06/10/748113058.gif
  • #666,091
  • Jul 6, 2012 5:43am Jul 6, 2012 5:43am
Quoting roreki
Bought here @ 2376 and will add @ 2333 SL for me @ 2295 TP open so far
Are you planning to go into NFPs with a 40 pip SL? Thatīs a little tight, me thinks.
  • #666,092
  • Jul 6, 2012 5:43am Jul 6, 2012 5:43am
The usd index retraced, now it's going south.. EU 'll fly.
http://wahai.com/usdindex4.png
Patience Pays
  • #666,093
  • Jul 6, 2012 5:48am Jul 6, 2012 5:48am
Quoting Myo
Are you planning to go into NFPs with a 40 pip SL? Thatīs a little tight, me thinks.
I am depending on my analysis and USD Index , you know that news are just made to complete the chart , Anyway i think it's a good SL for my money mangement , Thanks .
  • #666,094
  • Jul 6, 2012 5:49am Jul 6, 2012 5:49am
Quoting roreki
I am depending on my analysis and USD Index , you know that news are just made to complete the chart , Anyway i think it's a good SL for my money mangement , Thanks .
Ok, good luck!

Edit: Hold on, I misread your post. Your SL isnīt 40 but ~ 80 pips. Which leads me to my next question: Why donīt you move your SL a little down, just under the 2-year low at 1.2287?
  • #666,095
  • Jul 6, 2012 5:52am Jul 6, 2012 5:52am
Quoting Myo
Ok, good luck!
Thanks , and Good Luck to you too.
  • #666,096
  • Jul 6, 2012 5:58am Jul 6, 2012 5:58am
Guys,

NFP GUESS time!


I go first: +200k

LOL, who is next?


Seb
  • #666,097
  • Jul 6, 2012 5:59am Jul 6, 2012 5:59am
it looks like it wants to bounce to 2426 min. that may be wrong when so tight.
those who can, do. those who cant, talk about those who can
  • #666,098
  • Jul 6, 2012 6:02am Jul 6, 2012 6:02am
Quoting Trader88q
Today U.S unemployment rate migth be 8.1%. if so that would drive euro to 1.2330 level. at that level i am buying long to 2430.
next week i see a open doors for bulls. it cant fall and fall. bad sentiment of yesterday rate cut is passing over.
Sorry bro but Yes it can.

Monthly EU Chart

Bro I did get some of 2008 meltdown was when I decided never to long this piece crap, Got much of Dec 2009 - April 2010 and been riding this train since april 2011

1st train 4 months 6038 - 2329 3709 pips
2nd train 7 months 5140 - 1875 3265 pips
this train 14 months 4928 - 2286 2652 pips

Believe me all the way down especially last 2 trains, many time I see your sentiment, it cant just keep falling.

Bro check last 3 candles including this month, presently this is a inverted H&S, is why many good traders is looking for confirmation to go long and possibly is new bull train, "however, bears are still in this scrap, and will not give in easily,

So as I been saying for last 2 weeks, we in very dangerous territory, both bull and bear.

NFP could be catalyst for bull reversal, however she could also be a major blow for bulls, and if we make a new low <2131, which would be a monthly lh ll lh ll may be continuation of bear train, either way is going to be some major pips won and lost with the outcome of this battle.

Once again if yous is new to trading, stand on the sidelines tonight, many very good traders will be there with you
Attached Image (click to enlarge)
Click to Enlarge Name: EU Monthly 6 7 2012.png Size: 42 KB
If you are new to Forex? Say Goodbye to your account!!
  • #666,099
  • Jul 6, 2012 6:03am Jul 6, 2012 6:03am
This place.. Ohh my word!

People picking directions based on technicals, crossing trend lines, etc when there is a LARGE FUNDAMENTAL event coming, which could push this either way. the technical aspects do not apply in setting the direction

Jokers
Not on the rug!
  • #666,100
  • Jul 6, 2012 6:04am Jul 6, 2012 6:04am
I don't know what US news to expect.. Bad news and S&P willl collapse with taking Euro down. Good news and S&P will not change but Euro will go down..) So guys.. Any other idea how that news will affect the market ?
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