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

Chart notes say it all. Bias long. Wait for consolidation break for position. Two patterns target 1.2700.
http://www.tafool.com/Charts/eurusd0520101hr.gif

TAfool
addendum: Throw-under/Throw-over's typically result in an equal and opposite action. 250pip throw-under of channel also matches with two pattern targets of 2700 with a 250pip throw-over.

Im watching for the next half - 1 hour as us has just opened and im waiting for all the orders to be filled.......the 1st hor of us open can be very choppy indeed. As the dow jones is so low there may be some open market heavy punts in the up direction.

That said the SANDP Index has now broken its 1100 tech level fro TREND CHANGE TO SHORT.......

Im short dow 10350 and will close at 10250
im short again eur 12380 and will close 12355

Dow jones furtures was getting its bum kicked this morning alaong with most equities

Euro set to retrace huge losses cross currency. EUR/CAD is flying, won't come back, EUR/SGD, EUR/AUD, EUR/NZD, EUR/CHF, most EUR stuff looks long for quite some time.

bloomberg- just confirmed FULL CORRECTION MODE down and sandp
This will/should then push eur lower......

Originally Posted by Tigger

Euro set to retrace huge losses cross currency. EUR/CAD is flying, won't come back, EUR/SGD, EUR/AUD, EUR/NZD, EUR/CHF, most EUR stuff looks long for quite some time.

assuming thats correct....I shall have loads more shorting opportunities with the trend down. Im hoping if it touched 12400 again I can go back in short profiting over the same points!!

Confirm that we have started what appears to be a down tred n the dow jones as sandp broke the tech 1100 level,
If sandp closes today in the usa below the 1100 level its down?

Originally Posted by cw1

assuming thats correct....I shall have loads more shorting opportunities with the trend down. Im hoping if it touched 12400 again I can go back in short profiting over the same points!!

Hmm, with Market buying Euro's, looks like EUR/CAD will turn weekly MACD, who knows when the rally will end? I'm leaving the poor old Euro alone, and shorting NZD, AUD, CAD etc. Com block currencies taking the biggest hits. They give the most bearish reward for now.

Originally Posted by Tigger

Hmm, with Market buying Euro's, looks like EUR/CAD will turn weekly MACD, who knows when the rally will end? I'm leaving the poor old Euro alone, and shorting NZD, AUD, CAD etc. Com block currencies taking the biggest hits. They give the most bearish reward for now.

wowza...incredible

Originally Posted by cw1

Confirm that we have started what appears to be a down tred n the dow jones as sandp broke the tech 1100 level,
If sandp closes today in the usa below the 1100 level its down?

Sean is out this week, but in my experience there are dramatically more calls for a trend change than actual trend changes. I see the trend as being up on the DJIA as long as the index remains above the 9835 low of February 4th of this year.

Originally Posted by Colly

Ready ?


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Hi, Colly. What are those two squiggly lines, purple and lime, on your chart? Thanks.

Indicators are what they are. Ups and downs. But just wait until the first Rock or Firebomb is throw in Athens today, All Bets are off.

Yes trend changes is what i meant. Weve got a long way to go before the actual trend has actually changed , typing too fast!

That said, i feel it could be 'when in May, sell sell and go away'

Originally Posted by cw1

Yes trend changes is what i meant. Weve got a long way to go before the actual trend has actually changed , typing too fast!

That said, i feel it could be 'when in May, sell sell and go away'

That may actually happen, but more often than not the trend remains intact. Remember that the best traders react to the reality of the market and not get into the game of predicting.

Originally Posted by bill2759

Indicators are what they are. Ups and downs. But just wait until the first Rock or Firebomb is throw in Athens today, All Bets are off.

Just closed another short out Bill, Im bursting for it to spike back up again to lay another one.

15 min chart is now 3 legs down so looks like it will drop some more

Originally Posted by Franosh

Hi, Colly. What are those two squiggly lines, purple and lime, on your chart? Thanks.

Dear Franosh,

They are my finely attuned twin-speed RSI's.

For me they are the best indicator of what the market is going to do.

Here they are in 1 Hour format.

Colly

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