EURUSD

no question is stupid question if it has to do with forex!

Bank of International Settlements.

it's a central bank for central banks and it does not provide financial services to individuals or corporations.

the big bubba

The Big Boys.

Bank of International Settlements

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.

The best entry on the Daily timeframe was achieved after the first red candle below the channel with 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 significantly.

Next we look at EUR/USD H4 to see a good entry for a short position.

EUR/USD H4

We have a good entry into the trend with the Double Top on H4, the clear break of the uptrend channel and the break and consolidation below the 1.2887 resistance level wich has also been retested and price has been rejected and the price holds below its faster SMA,confirming a bearish outlook in the near term.

There is one more obstacle in the way to make this a ideal short setup : the 200 period SMA.wich the price is currently testing.

Sell at current price with a stop loss above 1.2887 and a target near the next supply zone - or support level at 1.2500.

Gold is correlated with EU now and its outlook is bearish as well, having formed a Triple Top with the third top rejected in the Daily range's resistance.
Gold Daily chart attached as well.

http://www.bis.org/index.htm

Thans... lol, I know it, but in our language it´s BMZ , and I never use this in english... Now I understand...

Spain comes out asking for a bail out euro positive or euro negative?

Changed Stoploss to 1.2990. Anybody else shorting at this lvl?

2999 is min target because 2912 never breached

now what 1.3000

nope will short below 1.2950. not sure where this short squeeze ends.

I went long. TP 1.3000

we have a 57 pips. range is 130 pips for this week. so by that logic we can have 1.3040 also or 1.2900 also

yup -- lets aim for 1.2900

I see. Ok i will keep this in mind and make sure i do not average my short at small pips range.

I am short at 1.2965, but have a feeling this will go up over 1.3015 just to take out stops, before coming down. Markets seems to be interpreting news that Spain is saying no resistance to bailout as Spain asking for bailout.

instead of wondering whether to long or short eur..why not look at swissy for direction instead..after all..they are closely correlated...

nice short squeeze coming out of nowhere on no news, again. Congrats to the big guys
manipulated market. Pump and dump. as long as they take ur SL, they are happy

keep watching her she about to be spanked

BS. That interpretation was done yesterday already. Today is friday, they will do what they want. period

some ideas on how market would move