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

After a struggle G20 agrees on need for deficit cuts

cw1
Not really confident to call the sunday move but not much has happened to change things

We could have what happened last weekend a steady move lower then up then down again by the time Asia closes.

The only other thing that would make me think a spike up would be ie the new pm in japan saying he would support a weak jpy it could have a knock on effect.

As you know i trade medium to long term so i can give you a chart daily that gives me price pressure to the downside though i still think a bounce would be nice.

Keep in mind that Germany and others have said if there is a default they want it orderly so its inevitable that we go down

Originally Posted by cw1

Hot air from econimists. The eur has many advantages. I think we will see Parity on the currency within perhaps a year then a slow recoveryb back up.

PG whats your thoughts on bounce or gap Sunday.
I think there was such a huge drop friday it will retrace 100 pips. Theres still plenty of buyers out there bank wise that are loading up longs on the cheap then selling off again

there is not always a gap one way or another. I don't see any reason why there would be a gap up. With the awful stock market Friday the Asian markets will probably be down again which would be bearish for the Euro.
Pound Guy, you and I have had this conversation before. the euro dead in five years? where is it going ? All the people in all the countries in the EU use the euro as their means of exchange. do you think this is going to stop? What are they going to start using as an alternative? Not to be disrespectful, but I don't understand how the euro is just going to disappear. It doesn't make any sense.

Yes Mary we have had this chat befor i think when they say dead in 5years they dont honestly mean completely but as the news paper article suggests some may exit others join etc

But the Streghth of the EUR is questioned for some time to come thats how i understand that article, though history may also suggest such articles may come towards the end of the suffering.

Originally Posted by Mary R

there is not always a gap one way or another. I don't see any reason why there would be a gap up. With the awful stock market Friday the Asian markets will probably be down again which would be bearish for the Euro.
Pound Guy, you and I have had this conversation before. the euro dead in five years? where is it going ? All the people in all the countries in the EU use the euro as their means of exchange. do you think this is going to stop? What are they going to start using as an alternative? Not to be disrespectful, but I don't understand how the euro is just going to disappear. It doesn't make any sense.

Alert !!!! This thing is turning around Late This week or Early Next Week!!!

Bulls get ready For the Next 6 Months Bullish the Euro, to 1.40+ we should hit 1.40 in late Sept. early Oct.

This pair will hit 1.193 and will clear stops to a 1.1826.

we should test 1.1693 range + or _ a little on this thrust down, should have strong resistange around 1.250 area if you want out that would be your change. this just shows you how bad things are & elliott 1.618 % is normal out of a triangle , wants you break out of 1.618 % range . then your headed for 2.618 % range which would be area of 1 1693 . just remember we are in a thrust & what ever happens early this week will most likely , be fast & emotional.ggod time to make trades you can get good experience in these market ,in this situation what i do is example if you have a $10.000.00 mini account, 1 lot is plenty to risk, real tradihg with real money after you have traded practice account for awhile to see how things work . nopainnogain, you dont have go feel the pain, if you do you choose so let have a great week

For the past month I have been hinting about the 200MA and the 45 line. Well look at the weekly 200MA and 45. we crossed it and look what happen. Now look at the Monthly 200MA the 200 crossed the 45 with price on top. What does that mean. Higher highes!!!, baby..

And Why Higher Highs the weekly 200MA has not confirmed the down move with a cross of the 200MA, so that leaves the door open for an upward move a swift upward move.

Please pick up my book, ' The Birth of a Trend ' when I get it published. You will see there is a Holly Grile Indicator.

Originally Posted by nopainnogain

we should test 1.1693 range + or _ a little on this thrust down, should have strong resistange around 1.250 area if you want out that would be your change. this just shows you how bad things are & elliott 1.618 % is normal out of a triangle , wants you break out of 1.618 % range . then your headed for 2.618 % range which would be area of 1 1693 . just remember we are in a thrust & what ever happens early this week will most likely , be fast & emotional.ggod time to make trades you can get good experience in these market ,in this situation what i do is example if you have a $10.000.00 mini account, 1 lot is plenty to risk, real tradihg with real money after you have traded practice account for awhile to see how things work . nopainnogain, you dont have go feel the pain, if you do you choose so let have a great week

1.1765 Max I Love a good change, in good spirts that is.

I wish you well pain.

i totally agree a thrust out of a triangle is in time short but price can cover some area, you just completed wave 4 & are in wave wave 5 wave 4 ate up so much time because of the triangle wave 5 is quick & swift.
wave 4 triangles can work on your emotional capitol. this should be a nice correction , but not a key reversal ,lots of unfinished work to be done on the down side. yes i to use MA & trend Lines

Originally Posted by nopainnogain

we should test 1.1693 range + or _ a little on this thrust down, should have strong resistange around 1.250 area if you want out that would be your change. this just shows you how bad things are & elliott 1.618 % is normal out of a triangle , wants you break out of 1.618 % range . then your headed for 2.618 % range which would be area of 1 1693 . just remember we are in a thrust & what ever happens early this week will most likely , be fast & emotional.ggod time to make trades you can get good experience in these market ,in this situation what i do is example if you have a $10.000.00 mini account, 1 lot is plenty to risk, real tradihg with real money after you have traded practice account for awhile to see how things work . nopainnogain, you dont have go feel the pain, if you do you choose so let have a great week

Nopain I would like to see the logic behind your comment do you have a chart.

Originally Posted by nopainnogain

i totally agree a thrust out of a triangle is in time short but price can cover some area, you just completed wave 4 & are in wave wave 5 wave 4 ate up so much time because of the triangle wave 5 is quick & swift.
wave 4 triangles can work on your emotional capitol. this should be a nice correction , but not a key reversal ,lots of unfinished work to be done on the down side. yes i to use MA & trend Lines

Good enough, but what time Frame was your triangle in? a 30 min chart triangle is usally a 16 hour event, a one hour chart triangle 2 to 3 days, etc.

had bad experience once tranferring charts took quite awhile to fix things. the numbers i gave you are extreme coming out of this triangle we have several lesser numbers but the way this thrust down is moving i think best to stick with the extreme, & be willing to make & adjustment if need be . i want a sign cope of your book when published

Hey Money

What is the estimate for a daily triangle or a 4 hours chart?

Originally Posted by MoneyInc.

Good enough, but what time Frame was your triangle in? a 30 min chart triangle is usally a 16 hour event, a one hour chart triangle 2 to 3 days, etc.

Thanks market 1/3 was closed. Still in play. Not sure with targets but 1.165 very possible where some pips should be fixed, after that some correction for about a 500-800 pips and than fully agree with Brad the most logic for the pair is to be around 1.

Originally Posted by jolopino

Hello my friends It was long time ago a posted. I was silent forum reader. Just congrats for the great trend to all those who manage to trade it. It was rather fruity period as well for me. Not a lot off was relevant to mentioned for me before. Still a lot of people think that it is near to bottom grate time to take shots. From my chart you can see that trend line from recent peaks is still in play, small uptrend was broken, h&s as well, and some Elliot wave thoughts (just recent 3 waves), which also was mentioned by some body. This count supposes, that last wave of correction c wave is finished- channel was broken and rather aggressive 3 wave will be soon as correction in B wave was running. After break of yearly low I will relax fully and will around 1.17010 pick some coins. Stops are rather close, just because a would like to lock some profit for the half of position. A lot of shorts were closed and now I am still in play, so do not believe me I am interested person, also I am looking forward to see what happen in Monday and adjust my view.

Originally Posted by PoundGuy

Hey Money

What is the estimate for a daily triangle or a 4 hours chart?

I guess we will see lol.