EURUSD

this is new update on e/usd

I trade with sony playstation wireless keyboard with a few customised shortcuts. Nice for scalping.

Chart - https://www.tradingview.com/v/AtJjIgdY/

It looks like everyone is trying to pick the bottom on EUR/USD in last few days, is there any chance that last week lows at 1,336 level will work as an bottom for few next weeks ? Just to clarify I'm bearish on EUR/USD in Longer term but we really might be starting an corection phase here and now.

Techs :
* 1,335 - 1,34 Level is an Huge demand zone at daily and weekly time frame.
* 1,337 is 50% Fibo retracement of the last rally from 1,275 to 1,399
* We may need an correction towards shown levels (1,351-2 and 1,37) to colect more sellers and put more selling presure on the EUR/USD curency pair.

Fundamentals :
* It's hard to find anything to support Euro to be honest.. In longer run ieverything is poiting towards lower excnahge rate of the Euro Zone currency..
* The only thing bulls might coun on is that the real Dolar rally has not begun yet and that should start in 2-3 months time when FED will end tappering and rate hikes talks will start.
* Last weeks USA job reports may be something to feed the Bulls but to be hones ? Another strong NFP reading, unemployment rate rose beacouse of participation rate change, the only thing that may be bad for Dollar is smaller then expected wage growth.
* Taking an Euro Zone inflation levels into consideration we might see talks about an ABS or QE like program to fight the deflation threat by ECB and if that happen then Euro will drop further without asking about technical levels

To sum up, I'd be cautious but we might be in a good spot to enter an Long trade with small stop loss aiming for an test of 1,35 and 1,37 levels beofre the Down trend will resume. I'd preffer to see another test of 1,336-7 zone before entering that kind of trade.

break todays low (3416) now and 3401 has a little st setup.. 4 pips below 3405... if one has to long. 3401 till fridays low in the lesser place for risk..its against the 600 pip recent trend.

Max

sorry to get back to you this late.....you are right, I bought at resistance, the entry was based on three consecutive close above the open and near the high......
Sometime this strategy works even when you buy/sell close to resistance/support, actually if you do not, it will not give you another decent chance to enter....

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1. French President Hollande saying EUR hasn't weakened enough

way to go Hollande!!!

normal support at 3380-90, maybe?

3416 broke.. w/o a new high today. one can intra day short 3401 (min and a possible lower trend resumption)... better entry s may present itself again at 3423. up till todays high. w/o a break.. st bears want 3401 and bulls want 3405... bulls usually go to 3405 before higher.. the trend is down,, bears need a LL as bulls need a HH;; atm small setups within the chop zones..

He's saying that since he was ellected The thing is that nor ECB, nor Germany will take he's jawboning into cosideration France has other economy issues then Euro exchange rate but that's an easy excuse so he will keep to use that sentence

I also see brighter chances that the 1.3390-80 can become important support for the near-term. A break of 1.3455 resistance can fuel the pair towards 1.3500 IMHO.

long 3418 risking 10 pips TP 3443

First got hit, number two seem very far away as slow as this is moving..

euro could have a pull back, but its a good buy imo

right long on eur/usd tart at 1.352

Today? forget it. Today's average move is 25 pips only

Lot better job to do. CYA tomorrow. GL

EURUSD moved higher during the course of last Friday, as the nonfarm payroll numbers were worse than expected. The trend has been very bearish lately, so the fact that we ended up bouncing during the day on Friday isn’t that big of a deal, it doesn’t change anything until we clear the 1.3550 region, something that probably isn’t going to happen soon.

breaking 3502 w/o going to 3747 after has always been a concern.. not getting back to several retraces like 3601 has concerned me. it dont have to retrace.. it does most times.. the break at 3502, opened 3012... last weeks high is close to 3445. 3445 is a LM in that sequence. 3442 is in the 3102 sequence.. the usdx hit the 1/4 mark of the target and stalled. that 1/4 mark is also a 50% mark. its also a norm.. this year we have been mostly below this norm. it has to be crossed to move down.. last summers break indicates it will not hold the usdx high, or the current eu low. but like i said, its not bouncing like it normally does.. will it is still a concern of mine. so i am watching how the lower tf pa is moving for optimal entries or exits. and if lucky, i may be able to hold one. on a resumption. next decent support for me is 3312