Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

My pending orders:

Sell EURUSD @1.36820 stop:1.3720
Sell GBPUSD @1.57390 stop:1.5770

GBPUSD is in a range, so highly probable to retrace back from that level. EURUSD is also in a channel and waiting for a retrace from the declining resistance with the high RSI reading.

My 2 cents

My soft target for each is approximately 100 pips.

EDIT: EURUSD is in. Hope this works. GBPUSD pending.

Dear CodyB,
I want to enter this trade because the price may reach the resistance line in the daily and 4h charts.
What do you think about this? Am I right?

http://img237.imageshack.us/i/40115934.jpg

Resistance at 1.3665
Minimum Target at 1.3610
Current Target at 1.3576
Economic Data in line and Worse than expected!!!
Break of the 1.3665 and the cross of the 100 min Moving Avg was the trigger of reversal

Good Chance for SHORT!!!

it seems to be trading on the basis of news out of EU about Greek financial problems. So far there is some relief in the markets that the issue of potential default can be pushed back until mid March so they don't have to do anything right away except talk about it

I don't know how the TIC results would be - last month they were higher than expected. When Ive been watching it the last several months there hasn't been that much of a reaction. I would watch the equity markets and if they rally and then start to fail it would be a good time to go long us dollar. Im doing well hope you are too

Motivating news coming from US and warning signals coming from EU .But EURUSD is rising. Like someone said;

Rise and shine Mr. Freeman. Rise and shine....

Sometimes it's hard to understand traders logic. Closed my position due to uncertainty rising.

Looking for other pairs...

(An ambitious plan is being worked on, they say, but there's nothing clear right now, traders are just looking for words, not action, too speculative. It seems they're trying to keep hopes high but at the same time warning us ).

Originally Posted by jtran2239

Resistance at 1.3665
Minimum Target at 1.3610
Current Target at 1.3576
Economic Data in line and Worse than expected!!!
Break of the 1.3665 and the cross of the 100 min Moving Avg was the trigger of reversal

Good Chance for SHORT!!!

The Euro is well bid across the board. Resistance will give way soon. All new high volumes have gone to the bulls. So the new money is buying. The volume on open shorts has a cost basis concentrated in the low .36's So I suspect at 50 to 100 pips from there we will see the squeeze start.

I think you just saw some shorts getting squeezed at 136.75

I have been paying close attention to this pair since it surgerd up from parity not to long ago. Although, I believe it will continue to run higher over the longer term I think we may see an opportunity to get short in the mid-term very soon.

With price flirting with trendline support on the 8 hour we may see a break here. This is also consistant with the elliotwave count I have on my 8 hour chart below.

A short set-up is ideal if we get an hour hour candle closing below trendline support. Minimum target would come somewhere around 1.0565 which is the 38.2% retrace off the rally we have recent seen.

Originally Posted by ShipItToMike

I have been paying close attention to this pair since it surgerd up from parity not to long ago. Although, I believe it will continue to run higher over the longer term I think we may see an opportunity to get short in the mid-term very soon.

With price flirting with trendline support on the 8 hour we may see a break here. This is also consistant with the elliotwave count I have on my 8 hour chart below.

A short set-up is ideal if we get an hour hour candle closing below trendline support. Minimum target would come somewhere around 1.0565 which is the 38.2% retrace off the rally we have recent seen.

at a closer glance

The bounce off of the low on the EUR/USD has moved up through a trendline as shown on the chart below. The break of that trendline really only confirms some buying interest. The next level to watch is the 1.3838 sell side high also noted on the chart below. But the downtrend on the daily chart is still strong and the big money to be made in this pair is still to the downside. If you are buying in this environment, you have to be quick and have some pretty good timing to be profitable. From the January 13th high to this recent low represents a move of just over 1000 pips and has included only a few rallies of between 150 and 250 pips. So the odds are with you if you sell in a downtrend instead of trying to pick a bottom. A move of 1000 pips may also mean that a bigger move up is in the cards in the near term. But experienced traders are more likely to wait for the next sell in anticipation of another big move to the downside instead of trying to buy in what might be just a short covering rally up to resistance. That resistance and potential reversal cannot be predicted and the good news is you do not have to know in advance to be profitable anyway. It will show itself when ready and not before that time, so in the meantime watching and waiting is the preferred choice of action for those who have been here before time and time again.

The TIC report was released late and seems to have a big impact on the dollar.

I do not post on this forum as much as I should, I lurk a lot but here are my 2 pips.

I hate trading the news. It's always a trap--much like 'consolidating markets.' I also would never trust the commentary of an individual who works at a b/d as most traders are not familiar with how brokers turn a "guaranteed" profit from your trades. (not talking about the spread)

As for the USDCHF, I believe a top has been set in place and the next target for this pair is 1.0590, if support does not build a base there, I am bearish to 1.0323 and subsequently 0.9891.



For the EURUSD, my favorite pair, the most reasonable target is within the range of $1.4104-$1.4203 and if it can go above and hold, say hello to $1.45 again.

For the EURUSD, my favorite pair, the most reasonable target is within the range of $1.4104-$1.4203 and if it can go above and hold, say hello to $1.45 again.
It may see 1.42 again soon. but not before it reaches 1.30.

Originally Posted by bill2759

For the EURUSD, my favorite pair, the most reasonable target is within the range of $1.4104-$1.4203 and if it can go above and hold, say hello to $1.45 again.
It may see 1.42 again soon. but not before it reaches 1.30.

Whats the ETA on $1.30? . I am betting on a range trade from $1.3884 to $1.4104 before $1.3