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

that resistance right there is tough. bears holding that down but bulls are trying.

1HR:

might be in our range till NY opens

Here is what i think is happening

EUR down all those adding shorts now are not holding positions once it dips then take profits = result is a relief rally to the upside.

Now that same situation is slowly inviting buyers who will be holding to hit a much higher level. We can not rule out 1 last dip before the longs that are forming eventually hit there target.

When the Eur went down last years and befor it started it move up it did catch a number of people off guard by making a dip then that was the end of the drop... cant rule out a similar scenario

my system calls for one last dip , although EUR does not have to all conditions have been met. but what we are looking at right now is difiantly corrective.

We might be trading in this triangle for the next few days if not weeks unless something significant happens and pushes price one way i must say the move favours some upside at the moment

If it where to break to the downside in my trade theory that would probably be a false move and as such look for buy positions. If the correction runs its couse then bear moves still in play

Originally Posted by PoundGuy

We might be trading in this triangle for the next few days if not weeks unless something significant happens and pushes price one way i must say the move favours some upside at the moment

If it where to break to the downside in my trade theory that would probably be a false move and as such look for buy positions. If the correction runs its couse then bear moves still in play

Pound, What time frame is that? ------- Nevermind, Daily.

Just wondering i would like to abriviate my name to PG can i do that? how do i do it?
Got the idea when members who responded to my posts refered to me as PG thanx guys and Girls

Originally Posted by PoundGuy

Just wondering i would like to abriviate my name to PG can i do that? how do i do it?
Got the idea when members who responded to my posts refered to me as PG thanx guys and Girls

Talk to Sean when he gets back...by email.

Cheers rickos

Originally Posted by rickos

Talk to Sean when he gets back...by email.

Will put Sell order at 1.2475 for today

I'd be interested to know if anyone else has an 'About' window that resembles mine. Yours is unlikely to say Japan of course, but I'm interested in the version number.

Went looking around and found that EURJPY is trading in a triangle on its top side if it breaks will go high if it fails then wait for it to touch the bottom side of the triangle

What do you think guys, 1.2311 was the low for today?

Originally Posted by PoundGuy

Will put Sell order at 1.2475 for today

LOL the hands of prayer, good one. I have a poster that has the same picture.

I do think it's been no longer time to sell for a couple of days now ... Since it crossed the 1.30 line, and perhaps above that level, it's been not sensible to sell the euro. Too risky in my opinion. And trading in general in such highly volatile markets. I think keeping an eye on the VIX is not a bad idea.

Let's see if the euro closes near 1.25500 today. If it does, it would complete a morning star pattern, which would open the way for a big and healthy corrective move that would - I suppose - give a new good opportunity to sell.

If you sell at current levels, you have to be aware of the possibility of a major correction of something like 1000 pips within a few days.