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

Euro May Overshoot Inverted Head and Shoulders Price Projection - The 261.8% extension target could see the Euro roll up to the 13489 area as it moves up to the 1.3000 handle. SSI indicates that retail traders are trying to pick a top in the Euro.

starting to get nose bleed

Originally Posted by Gregory McLeod

Euro May Overshoot Inverted Head and Shoulders Price Projection - The 261.8% extension target could see the Euro roll up to the 13489 area as it moves up to the 1.3000 handle. SSI indicates that retail traders are trying to pick a top in the Euro.

Recently, I have been researching correlation of the other currencies with E/U to simulate my porfolio - Money Management


Case: E/G

I have been playing around with an idea over the world cup games which i have to say has been extremely profitable.

Combined with other or lets say one other indicator that i have only found on Tradestation.

P.S its a stolen idea but personalized to work with a common everyday trader if you would like me to share skype me if you have trade station even better coz i have not fully tried it on normal acc with the chart packages it comes with.

P.S2 i would like to share so i can learn from you to improve on it hehe

Originally Posted by dhan1163

Recently, I have been researching correlation of the other currencies with E/U to simulate my porfolio - Money Management


Case: E/G

eur/gbp correlation is around .80
eur/jpy correlation is higher at around .94
gbp/usd correlation is around .92

usd/chf has the highest negative of -0.92

pairs' volatility/velocity are different. don't trade eurgbp so don't know how it moves but do trade eurjpy and it trades more vigorously than eurusd.
for 1 pip eurusd move eurjpy may move 2-3 pips normally and 10+ pips in a volatile condition.

Hello Everybody,
How would you prioritize these 4 chart patterns on the EUR/JPY 4-hour chart for decision making purposes?

I would think the Ascending Triangle is the one to watch the most, if it breaks lower, then trade the 500-pip Horizontal Range with a short trade? If it breaks up, then trade the sloping channel with a long up to the upper channel resistance?

Is the larger horizontal range too large scale to range trade from?

Also, notice how the price action "bounced" it's way up the sloping channel within the larger horizontal range much more so than previous movements within that larger horizontal range? Has this any particular significance?

Thanks for any input and thoughts!
Cheers,
Nils

Originally Posted by SBNL

Hello Everybody,
How would you prioritize these 4 chart patterns on the EUR/JPY 4-hour chart for decision making purposes?

...
...
Thanks for any input and thoughts!
Cheers,
Nils

I want to say only one thing for this chart..
113,40 is very critical level.. and there is no any clear pattern..

Originally Posted by SBNL

Hello Everybody,
How would you prioritize these 4 chart patterns on the EUR/JPY 4-hour chart for decision making purposes?

I would think the Ascending Triangle is the one to watch the most, if it breaks lower, then trade the 500-pip Horizontal Range with a short trade? If it breaks up, then trade the sloping channel with a long up to the upper channel resistance?

Is the larger horizontal range too large scale to range trade from?

Also, notice how the price action "bounced" it's way up the sloping channel within the larger horizontal range much more so than previous movements within that larger horizontal range? Has this any particular significance?

Thanks for any input and thoughts!
Cheers,
Nils

Good to know there are other die harder for Euppy beside me..
I want to shoot mysellf for missing buys and then the sell each by 2-5 pips, same is the case with the euro and was waiting for 2802 to long... Anyways did scalps in and out mainly on euppy and missing this last leg up...
Charts and 113.55 to look for and any close 4 hrs above you don't want to be short this pair.
this could go into the wedge b/w ascending 113.50 and descending 117.70, with first tgts on a close above 113.55-45 to be around 114.35-45...
Euppy close above this 113.55 would signal further strength for euro as well...

I hope i made sense here.. might come back for a deeper analysis later...

GL....

time for some POP CORN . C w should get same respect as 3 of 3 w .

Interesting day for the Euro today. Intra-day correlation patterns signal pretty clear indiscriminate bidding. Stiff resistance 1.30-1.3050. That should expose just how fat this elephant really is. My guess is a CB because private money is a bit more discrete.

Originally Posted by analyzer

eur/gbp correlation is around .80
eur/jpy correlation is higher at around .94
gbp/usd correlation is around .92

usd/chf has the highest negative of -0.92

pairs' volatility/velocity are different. don't trade eurgbp so don't know how it moves but do trade eurjpy and it trades more vigorously than eurusd.
for 1 pip eurusd move eurjpy may move 2-3 pips normally and 10+ pips in a volatile condition.

Thank you very much for your advice.

Originally Posted by PoundGuy

I have been playing around with an idea over the world cup games which i have to say has been extremely profitable.

Combined with other or lets say one other indicator that i have only found on Tradestation.

P.S its a stolen idea but personalized to work with a common everyday trader if you would like me to share skype me if you have trade station even better coz i have not fully tried it on normal acc with the chart packages it comes with.

P.S2 i would like to share so i can learn from you to improve on it hehe

I'd like to know your system. How could I get it?
Thanks

Originally Posted by dhan1163

Thank you very much for your advice.

This might make your life easier: Forex Correlation - Mataf.net

Originally Posted by Franosh

This might make your life easier: Forex Correlation - Mataf.net

Thank you.