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

Originally Posted by 11one

so Money, you really think it will fall to the 1.21 range?

Here is why. Its all about strength. Lets look at this pair. The current bull rally is very strong however, the market is, lets say "flat" for the lack of a better word. In a normal market retracement is usally to .618 on the Fib. But due to the market(s) not doing very well today everyone is waiting to jump on the downside of anything. So this bull market rally will be pushed a little futher then the .618 level it my not hit the .50 level or it may go futher.

Originally Posted by adam6655nyc

I think AUD is the indicator for risk now, it has to break above the 86 and stay there before the market take the next step but the eur is a little bit alone with the news and situation there.

Could you explain more about this? Why is "AUD is the indicator for risk now" ?
Why does it have to break above the 86 and stay there before the market take the next step?

Thanks

Originally Posted by MoneyInc.

Here is why. Its all about strength. Lets look at this pair. The current bull rally is very strong however, the market is, lets say "flat" for the lack of a better word. In a normal market retracement is usally to .618 on the Fib. But due to the market(s) not doing very well today everyone is waiting to jump on the downside of anything. So this bull market rally will be pushed a little futher then the .618 level it my not hit the .50 level or it may go futher.

money, isnt that fib upside down, if your measuring the move up and looking for levels of support? or my eyes playin tricks on me?i do agree with the chart though,, nice!... mike

Originally Posted by Colly

Reminds me of my younger days with MC Hammer lol

Technically speaking and thats all, one more little wave and ermmmmm

I'm watching a similar movie whilst scalping the life out The Beast

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Attaching 1 Hr

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Thanks your chart. I undestand your RSI's Twin combine with Fib. It's interesting for actions of price. I think It could apply good for larger TF. I'll try for hours-TF or daily chart.

Originally Posted by FLFOREX

money, isnt that fib upside down, if your measuring the move up and looking for levels of support? or my eyes playin tricks on me?i do agree with the chart though,, nice!... mike

Yeapers bc I use it for pojection mostly, its a habbit. when it hits the .618 i know there has been .382 retacement then I can hit the 1.618 box and see where it is going.

Originally Posted by MoneyInc.

Yeapers bc I use it for pojection mostly, its a habbit. when it hits the .618 i know there has been .382 retacement then I can hit the 1.618 box and see where it is going.

got ya! Thank you

Originally Posted by Sean Hyman

The NASDAQ appears to have just broken its hourly uptrend line.

This could encourage more down side in some currencies soon. We'l see.

or the opposite lol, you never know, you posted this and the market turned around, funny, the market is doing the same thing before the last drop, trying so hard to break up but comes to a certain level and ......silent.

We have been in the same levels since Tuesday...there must be fireworks before the weekend...which is tomorrow...

Nice presentation BTW, just watched your presentation in Las vegas while the market was moving up.

have a good night..

Originally Posted by dhan1163

Could you explain more about this? Why is "AUD is the indicator for risk now" ?
Why does it have to break above the 86 and stay there before the market take the next step?

Thanks

It is just how it is , AUD is a risk currency, when it moves up the risk is on, when it moves down the risk is off.

Originally Posted by FLFOREX

got ya! Thank you

Just to clear up How i use the Fib

Diamond Formations

Originally Posted by MoneyInc.

Just to clear up How i use the Fib

cool money, thank you for the chart and explaination, appreciate it!

Originally Posted by KUTERO

Diamond Formations

Normally, those are short term topping patterns. However, if they break out to the upside, then they could have been just a continuation/consolidation pattern.

Originally Posted by KUTERO

Diamond Formations

Nice catch! Its been a while for a top diamond ;-)

Cool ...

Originally Posted by Sean Hyman

Normally, those are short term topping patterns. However, if they break out to the upside, then they could have been just a continuation/consolidation pattern.

I am watching..
Thank you.