EURUSD

Only Bull thing about MS call is their bulls*it lol

nice topic good job and nice analysis

Possible trick for liquidity.
Still saying, there is no reason to buy this dust euro

Technical is very strong against their idiotic call

Most of the techs point to bulls, but bears don't wanna give the € a change.

watch out fast approaching 2935

If you are interested, I posted a video today on what I am seeing on the EUR/USD as well as 10 other pairs. You can see it here 10/8/2012 Daily Analysis.

Just click on the video that pops up.

Not much interest to push pair anywhere right now.

Gold is moving pair most.

Then eurgbp rangeing between last Friday's L and N close.

DJI figuring out if it's able to fill 4.10 4hr candle.

Cable about to make intraday 100pips. (best trade today)



So, pretty much wait and see.

EDIT: Nice buy from 20 if gets there.

Anyone trading GBP/JPY?

AUD/USD still pretty resilient...phew..

Hello traders,

The start of the week brings a significant drop in the price of EUR/USD as Asian major indices and stocks dropped overnight, with several major companies stocks posting declines and attention being focused again on the European debt crisis, ahead of the Finance Ministers Meeting.

Friday saw the EUR/USD breaking some resistances on the H1 and H4 charts due to the optimism
of the better Jobs data,with workers taking more part-time jobs, unemplyoment dropping to 7.8% in September, the best since 2009,the USD Index and some US indices and stocks advancing higher, but as this market sentiment has faded over the rest of Friday's trading day and over the weekend and skepticism settling in again this week, the situation is becoming bearish again on the medium-term for the EUR/USD.

We will take a closer look to the technical situation on the Monthly,Weekly and Daily charts as we wait for optional,better positioning opportunities to appear on the lower,shorter-term H4 or H1 charts.

EUR/USD Monthly

On the Monthly chart, we had 2 positive months after July wich tested the uptrend channel support, the 1.2191 support level and the 200 period SMA, where the price has been clearly rejected.Price currently holds below its faster (blue) SMA.
Since on the longer term the situation is rather bullish, we expect significantly higher prices after the E/U will drop to its channel support once again to form a reversed H&S or Double Bottom on the Weekly/Daily charts.
To this extent, we drop our view to the lower timeframe charts to better see this in detail.

EUR/USD Weekly

On the Weekly chart we are inside a downtrend channel, where price currently shows rejection patterns at its channel resistance for the third time, after two successful rejections, supporting our view for a reversed H&S or Double Bottom before continuing higher.
We also keep in mind two other factors strengthening our bearish mid-term outlook:
The 1.2087-1.3138 wave still is probable to make a correction to the downside and the range's 1.2608 support overlaps with Fibo 50.0 of 1.2087-1.3138 making this one of the most probable
turning points for the EUR/USD in the near future, even though the price can certainly move lower.
We turn our view to the Daily chart now, to see our position in accordance to the Weekly chart.

EUR/USD Daily

We can see the downtrend channel in more detail here and locate our short setup, with a good risk/reward ratio.
Price has currently been rejected at the downtrend channel's resistance and 1.3018 resistance area
(also check H4 to see rejection candles).This will probably confirm the channel's resistance as a strong,significant trendline.
The correction of the 1.2087-1.3138 wave is safe to continue now, giving us a good chance for the short setup we've prepared.
Sell at the current price with a stop loss slightly above the channel and a target near the next significant support level (1.2669).
One other reason to short the EUR/USD is that it is well corelated to GOLD now, wich has formed a Triple Top on the Daily chart and has already dropped.

For the moment, there are no good risk/reward setups available on the EUR/USD H4 or H1 timeframes.

Fundamentally, the Sentix Investor Confidence data that was out at 10:30 AM today supports a negative technical outlook and there are no other setup-breaking news in the economic calendar, but keep a watch on the German Industrial Production at 12:00 PM and keep in mind that today is the Eurogroup Meetings day.

I'll be happy to answer any questions and to receive your feedback.
Good Luck.

Also see the Gold chart - all charts attached.

I will start looking long if price can break above the blue diagonal level

closed my shorts euro$ 2940 2938 is the hit now, scalp long at 2940

stop 2927

situation in the eu arena is too byd for euro i thing. still will be bearish sentiment, but on the thin range. Mabe not... but i wrote profit i´m was short from friday evening ( european time)

yeah i'm trading 'the beast'. waiting for a retracement to 125.55 to go short. u?

from 1,2920 to 1,2970 it´s possible to move up/down. But if eurofin shows some problems to the future (i thing - yes), euro can go more down - somewhere to 1,2870-75 (around).

this pair is screaming long me if you can with this steel balls.

we have dropped pretty well...no time for a retrace to continue or done

took short position at 1.2984 at closed the trade at 1.2940. Amazing day.

here come my signal: sell limit at 1.29913, tp 1.2875

If price go below 1.2935 then it will touch 1.2900

I wonder how much more downside there is to this pair. It is still relatively high on the daily