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

Originally Posted by Colly

Good morning A-Yo and thank you indeedy.

I was wondering where we went adrift on those levels but aha, you brought the matter to light.

150+ pips on EG Smeagle.... gotta love that precious

PS ~ I didnt trade it either lol

So neither of us caught the drop. Big Tuna's chart, shows the drop concluded a 5 wave drop?

Originally Posted by stryker

On the dot and mark AYOOOOOOOO.....

I spotted 3-4 various as supp earlier between 2838-44, and strong chances it would hold for a move lower.... above that i have 2880-83 followed by the 2930 and so on...

In short, a move higher to 2845-50 negates further down move and more choppy conditions ahead...........

GL.......

I guess we're 'hurrying up to wait'?

Originally Posted by bill2759

Is holding no position a position?
Would Ya believe, I took a one pip profit a little while ago because I couldn't convince Myself that the pair was going in any direction for any length of time.
I tried drawing some trend lines. It looked like it was forming some sort of wedge or flag pattern. So I bailed and here I sit, without any idea where it's heading next. And thats My position.
If I should tender a thought, I'd say down. But that would be only a guess and no way to take a risk.
Madaam Babushka is of absolutely no help. She has suffered a complete loss of confidence the past few weeks and is recovering very slowly.

Happy Trading

Wait to see what Bernanke says. Also, the euro may stay in a tight range until the release of the EU bank stress tests on Friday. I don't know if they are going to be released one at a time or as a group, with a percentage ratio of who passed in which country and what they plan to do about it. Friday should be a wild day

Originally Posted by bill2759

Is holding no position a position?
Would Ya believe, I took a one pip profit a little while ago because I couldn't convince Myself that the pair was going in any direction for any length of time.
I tried drawing some trend lines. It looked like it was forming some sort of wedge or flag pattern. So I bailed and here I sit, without any idea where it's heading next. And thats My position.
If I should tender a thought, I'd say down. But that would be only a guess and no way to take a risk.
Madaam Babushka is of absolutely no help. She has suffered a complete loss of confidence the past few weeks and is recovering very slowly.

Happy Trading

I have the same position Bill.... and its one I am considering calling boredom.

Similarly, I took a long at 1.2810 about an hour ago with SL @ 1.2794...

appearing then was a triangle suggesting a 5th wave down and I took that with 1.3 pips in my pocket

We have a strength resource supporting a Long Position in the near immediate term but for me that isn't now...

Colly
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Originally Posted by Mary R

Wait to see what Bernanke says. Also, the euro may stay in a tight range until the release of the EU bank stress tests on Friday. I don't know if they are going to be released one at a time or as a group, with a percentage ratio of who passed in which country and what they plan to do about it. Friday should be a wild day

Thank you for that information Mary, neither was in my attention span.

I see on my calendar now:

6:00 pm GMT - USD - High Impact Expected - Fed Chairman Bernanke Testifies

"Testifies" ? Whats that all about then, do you know ?

Colly
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I just got an RSI cross on My 10 minute chart. Went long at 1.2826. Keeping a tight stop.

Oh my, its woken up !

Heres the 5 min chart with short-term target levels to watch for...

in blue on RH side

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Originally Posted by bill2759

I just got an RSI cross on My 10 minute chart. Went long at 1.2826. Keeping a tight stop.

Nice one Bill, glad to hear the idea is working for you and I hope it brings you some rewards.

Colly
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Originally Posted by KUTERO

50% Fibo levels:

240M:1.2778
daily: 1.2782

Lets say 1.2780

Dear Captain Kutero,

It appears to have bottomed for now at least @ 1.2789

Come on now, using a 4 hr and daily chart we expect much closer levels than that please

So far so good, well done Captain

1.2789

Originally Posted by Gregory McLeod

Any thoughts on where we go from here?

Here're my thoughts...
First, E/U will drop just below the trendline, hitting SLs for Longs and giving an impression that the price will drop further, causing many to go short. Then, the price will bounce back above the trendline, causing Shorts to close their positions, and continue upwards.

Do I have any idea what I'm talking about? Absolutely not. But that's what I would do (go Long, then Short), therefore, that's the most likely outcome. I'll soil myself it that's what will actually happen.

Originally Posted by KUTERO

1.2789

An interesting " void-to-be-filled " level there.

I'm not wholly convinced the move down is complete enough yet. Shall take a view on matters shortly and once the move of the double bottom makes more sense. Looks like a wave 4 to me.

Guys, any body has a idea 12787 which fibo level is either a retractment or a extension from which high or lows.thanks.

Originally Posted by Colly

Thank you for that information Mary, neither was in my attention span.

I see on my calendar now:

6:00 pm GMT - USD - High Impact Expected - Fed Chairman Bernanke Testifies

"Testifies" ? Whats that all about then, do you know ?

Colly
---

Bi annual testimony in front of Senate on state of economy. Sometimes they release the statement early

That kinda thinking is out thinking the thinkers that think they know what You're thinking.. Good thinking!

Originally Posted by martyman13

Here're my thoughts...
First, E/U will drop just below the trendline, hitting SLs for Longs and giving an impression that the price will drop further, causing many to go short. Then, the price will bounce back above the trendline, causing Shorts to close their positions, and continue upwards.

Do I have any idea what I'm talking about? Absolutely not. But that's what I would do (go Long, then Short), therefore, that's the most likely outcome. I'll soil myself it that's what will actually happen.