Euro climbs back over 1.32 | Forex Factory

Euro climbs back over 1.32 | Forex Factory

Euro climbs back over 1.32

From forexlive.com

The euro has rebounded from 1.3165 to 1.3217. Volatile trading in Europe after the drop from 1.3255. The 61.8% retracement at 1.3221 is the key short-term level on my chart. Comments from Rajoy saying he hopes the government won’t have to intervene in the Spanish regions are getting the blame for the move.

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Dec 28, 2012 8:09am

Well, one thing for certain - peripheral countries are in steady decline in terms of GDP, debt and unemployment - despite what news pollution is saying - people's personal wealth and development potential is rapidly deteriorating.

In long term I see EUR to go even lower than 1.20 for 1 USD.

This currency was pretty overvalued when it was introduced and could keep rates above 1.40 with very weak USD and glowing economy in euro-zone. Basically this currency messed up the consumer prices in those peripherals - and for the time being it was not noticed as a big problem due to the economic growth.

Dec 28, 2012 7:56am

Funny :-).

Dec 28, 2012 7:48am

reallly.i cant see that.lol

Dec 28, 2012 8:12am

Nice for short

Dec 28, 2012 8:59am

EUR has one place to be before the year ends - either 1.3011/29 or 1.3445/55 (if US fiscal is avoided before NY session close on Dec 31, 2012)

Dec 28, 2012 11:56am

A squirrel just came down the tree in front of my window and then climbed back up. THIS IS NEWS!

Dec 28, 2012 7:55am

Hope we will see 1.30XX again

next month

Dec 28, 2012 7:49am

is it breaking news?

Dec 28, 2012 10:41am

Quoting Guest

Disliked

Historically the monthly 50 MA or middle Bollinger is meant to be crossed and whenever price comes from outside of it's first deviation it is destined to go outside the opposite deviation. The rest is just a matter of time, months in particular. So just drop a buy and come back at let's say Q2 to see how your TP will get hit at least one thousand pips(1.44 to be exact) away from where you stand now. What will bother you then is if you'll short from there your profits, the initial capital or... both
Who cares of a fiscal cliff in front of a profit...

Ignored

You sound like you have mastered mean reversion dynamics. Congratulations and best wishes. The same basic approach to reading the markets here (with just a few qualifications).

Dec 28, 2012 11:54am

i would focus on the daily chart max and leave the higher time frames for the banks. Unless were talking about minilots and demos

Dec 28, 2012 7:56am

It is if you are long higher or trading a 5m chart

Quoting holmes

Disliked

is it breaking news?

Ignored

Dec 28, 2012 7:59am

Has anything really changed in the EuroZone - I mean really change, fundamentally?

Dec 28, 2012 8:13am

All will see a come back quick run on 31 DEC.

Trader#9337

Dec 28, 2012 8:14am

LOL. This was just a normal pullback from the 4hr bottom, albeit a little exaggerated due to the volatility, but nothing has changed. The moving average has broken downwards AGAIN starting a new potential downward trend. Couple this with no cliff deal on Monday, with a new monthly bar on the monthly chart below the middle bollinger band line (moving average), and the cliff may very well be more accurately reflected in the charts next month. There really wont be much upwards movement next week until after Jan 15th. After then, we may experience a small pullback, but you had best get ready to sell in Feb.

Trader#A442

Dec 28, 2012 9:03am

Quoting Guest

Disliked

LOL. This was just a normal pullback from the 4hr bottom, albeit a little exaggerated due to the volatility, but nothing has changed. The moving average has broken downwards AGAIN starting a new potential downward trend. Couple this with no cliff deal on Monday, with a new monthly bar on the monthly chart below the middle bollinger band line (moving average), and the cliff may very well be more accurately reflected in the charts next month. There really wont be much upwards movement next week until after Jan 15th. After then, we may experience a...

Ignored

Historically the monthly 50 MA or middle Bollinger is meant to be crossed and whenever price comes from outside of it's first deviation it is destined to go outside the opposite deviation. The rest is just a matter of time, months in particular. So just drop a buy and come back at let's say Q2 to see how your TP will get hit at least one thousand pips(1.44 to be exact) away from where you stand now. What will bother you then is if you'll short from there your profits, the initial capital or... both

Who cares of a fiscal cliff in front of a profit Everest?

Trader#9337

Dec 28, 2012 11:08am

Yes, but there are more than just 1 moving average crossing other moving averages. The divergence Im seeing now on the 4 hour chart could very well be the start of the daily chart down. We will see if it pans out by next week. The monthly I was referring to was just a casual observance of what is going to happen when it trys to cross that band. It may, but not to far, before we see the real drop in Feb.

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Dec 28, 2012 7:42am
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