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EURUSD

  • #935,981
  • Nov 17, 2014 4:22am Nov 17, 2014 4:22am
One of my brokers just did a little testing on EChf...
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Fail better.
  • #935,982
  • Nov 17, 2014 4:24am Nov 17, 2014 4:24am
Quoting irongoose
{quote} I remember a couple of years ago when everyone was saying the Euro was going to 1.18 and the price was around 1.22 Draghi said he was going to save the euro and price rocketed up to 1.38 amid good US data,bad euro data. He didn't implement any new policies he just said he was going to save the euro and that's all it took to drive the price up none stop for months.
I think Dragi just want a cheaper euro to save inflation in europe.Ore am I wrong.

That let me remember a half year ago,when euro shoots to almost 1.40 during Dragi and from then its just lower.

Hard to say what it brings.
  • #935,983
  • Nov 17, 2014 4:27am Nov 17, 2014 4:27am
Quoting irongoose
{quote} I don't, common sense would tell you that there is no recovery in the foreseeable future for the euro but common sense alone in forex is useless. If you are a short term trader like me there is a real chance of getting stopped out and then price running south after entering short on common sense.
thats why i dont like to trade anything less than the 4 hour chart,
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #935,984
  • Nov 17, 2014 4:28am Nov 17, 2014 4:28am
Quoting LarryDarrell
One of my brokers just did a little testing on EChf... {image}
1.2097 is my low
those who can, do. those who cant, talk about those who can
  • #935,985
  • Nov 17, 2014 4:30am Nov 17, 2014 4:30am
Quoting gatorinla
{quote} i remember that also, we can also see where that statement got him in the economy since.
I think more about where that statement got retail trader's accounts and could careless what it did for the euro economy. the euro has been shorted for 5 months now, its about time for a "We are going to save the Euro" style statement, one just needs to trade smart right now and not assume anything or leavel themselves wide open for a huge account hit, thats all.
  • #935,986
  • Nov 17, 2014 4:30am Nov 17, 2014 4:30am
i think super mario didnt get into all the fuss three times now ...in the past few months....for the euro to get "cheaper" just to go out of the blue and say to everyone...hey i changed my mind...ALL the rest of "the crew" who voted as well (remember it was unanimous) changed their minds as well.... lets go everyone and buy the eur....

its crazy....


on the other hand Faeroe islands beat Greece...so never say never... but what are the odds?
  • #935,987
  • Nov 17, 2014 4:32am Nov 17, 2014 4:32am
I think we will retest 1.2400 within the next three days
Forex is a losers game.
  • #935,988
  • Nov 17, 2014 4:34am Nov 17, 2014 4:34am
Quoting fxtyrant
{quote} heres me referring to Friday's Pump and dump Dollar sell off scare... when a sell of like that happens in late new york with no absolute fundamental reason... its stop hunt.... whos ready to see 1.23?
I'm ready. What's interesting is that it went up to 1.2577, to absolutely make sure as most stops as possible will be triggered
Forex is a losers game.
  • #935,989
  • Nov 17, 2014 4:39am Nov 17, 2014 4:39am
I see some minor support in the 2460/80 area, then near 2425...but nothing to hang my hat on in this configuration, I wait to sell a bounce, perhaps near 2559 or so, if it ever comes, otherwise, I do nothing...


that said..I do see a short play in USDCHF...I'll work some offers at 9671, risk 9693...
Look Sharp/Trade Tight
  • #935,990
  • Nov 17, 2014 4:43am Nov 17, 2014 4:43am
All points are valid about the euro heading lower but for a short term trader 50 and 80 pip interday spikes are account killers and very realistic in the short term sense so I tend to use 15 pip stops around previous highs and lows and look for reversal patterns.
  • #935,991
  • Nov 17, 2014 4:46am Nov 17, 2014 4:46am
Good morning!

1.2461 seems to be the target for the next leg down.
Why sell the bottoms when you can buy the tops...
  • #935,992
  • Nov 17, 2014 4:59am Nov 17, 2014 4:59am
placed some offers at 2555, risk 2580....
Look Sharp/Trade Tight
  • #935,993
  • Nov 17, 2014 5:00am Nov 17, 2014 5:00am
Quoting fxtyrant
{quote} thats why i dont like to trade anything less than the 4 hour chart,
I wish I knew how to trade a 4 hour chart, it doesn't take a genius to look at a chart and see the long term trends and the hundreds of pips riding one can produce,its just finding an entry and being able to know not to panic over being 50-80 pips down that i can't do.
  • #935,994
  • Nov 17, 2014 5:10am Nov 17, 2014 5:10am
There seems to be a lot of speculation on the movement of the EUR if and when the ECB chair speaks today, I don't have fancy technical software or even a very advanced knowledge of charting. I do however understand the gravity of unemployment, it's going down in the US and up in EU. Fundamentally this is because the US made it's money very cheap with QE. Back in July when I read that the US was going to end QE I realized my money would be well placed shorting the EUR for the next 6 months. Since then I've had up days and down, I'm far enough in the money now that nothing short of world war III is going to force the EUR over 1.3570. All this means is that I watch the overall numbers. My biggest question right now is do I close my trade in Jan when it hits 1.18-1.19? I do suspect the EUR/USD are about to switch places again with the dollar being the more valuable by Jan 2016,

I do see a slide of 1900 pips that might happen next year, if that's the case I might stay short. The profits of 1900 pips on a $96k investment, 2.5million micro contracts,
$250 per pip, 1900 pips, on top of the the 1000 pips I should close by the end of the year. The numbers are scary I don't want to jinx myself but it's possible.
  • #935,995
  • Nov 17, 2014 5:16am Nov 17, 2014 5:16am
Quoting Eda
There seems to be a lot of speculation on the movement of the EUR if and when the ECB chair speaks today, I don't have fancy technical software or even a very advanced knowledge of charting. I do however understand the gravity of unemployment, it's going down in the US and up in EU. Fundamentally this is because the US made it's money very cheap with QE. Back in July when I read that the US was going to end QE I realized my money would be well placed shorting the EUR for the next 6 months. Since then I've had up days and down, I'm far enough in...

475k :O
Volatility makes me feel alive!
  • #935,996
  • Nov 17, 2014 5:36am Nov 17, 2014 5:36am
Does any one think that euro has posted its low for today. If yes, what is reason. In my view euro has posted today low and stop is 13 pips below the low.
  • #935,997
  • Nov 17, 2014 5:40am Nov 17, 2014 5:40am
Quoting WaqarAbbas
Does any one think that euro has posted its low for today. If yes, what is reason. In my view euro has posted today low and stop is 13 pips below the low.
I dont think its tested support yet, I think it needs to go down a tad more...thats my opinion right this second...
Look Sharp/Trade Tight
  • #935,998
  • Nov 17, 2014 5:41am Nov 17, 2014 5:41am
Did some multi-timeframe charting. Still think the bulls have a good case, if only based on the daily chart. Seeing an NR7 setup on the Daily (breakout from a seven-day narrow range, above the the smallest bar in a series of seven daily bars), a strong breakout signifying a lower lower trend reversal attempt. Calls for a measured move up. Same idea supported on 1HR chart, as the Friday breakout was basically a successful third push up that broke out of a horizontal range, also calling for a measured move up (into 1.263-1.266). Looking only for longs so far, pending the news, would look to buy around 1.2445 if we see high volatility and volume there -- would mean a breakeven test for Friday bulls (if they are still present and willing to defend) plus a trap for new shorts.
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"To the busy day / To the idle play"
  • #935,999
  • Nov 17, 2014 5:47am Nov 17, 2014 5:47am
Quoting irongoose
{quote} I wish I knew how to trade a 4 hour chart, it doesn't take a genius to look at a chart and see the long term trends and the hundreds of pips riding one can produce,its just finding an entry and being able to know not to panic over being 50-80 pips down that i can't do.
Sure you can...........If something 'works' on one timeframe it should work on another............just a matter of draw down maybe
  • #936,000
  • Nov 17, 2014 5:50am Nov 17, 2014 5:50am
If EU doesn't get below 1.2480, theres more chance it'll go higher later to 1.2590......and then more to max highs of about 1.2695.......
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