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

15 mins setup.....

GL..

Originally Posted by Cosco

Call me crazy, but I am still bullish. Moreover : "For a Few Dollars More: The USDollar (Dollar Index) reaches yearly resistance levels Forex @ DailyFX - For a Few Dollars More "

You're crazy. JK, but I do think you may wish to consider, just consider, that we have entered a multi-month dollar rally that could very easily take us to the low 1.30's certainly less than 1.35. Just my 2 cents

excellent day for scalpers. How are you doing today CW1?

Risk On / Risk Off .... Risk On / Risk Off ....

Time will tell..

my take is Risk Aversion On / Risk Off !

Kind of nerve recking insin't it !

Originally Posted by Cosco

Call me crazy, but I am still bullish. Moreover : "For a Few Dollars More: The USDollar (Dollar Index) reaches yearly resistance levels Forex @ DailyFX - For a Few Dollars More "

Canceling my today's position. Nothing to wait for for this London session. Today average completely flat.
PS. I was still bullish today only ! but bearish in the long run ! (However, be careful ECB should raise rates one day, it all could reverse !
Tomorrow is a new day, new analysis.

Update : watch out, my computer says "Big move at 16:45 CET". Don't know if it works well, but it is worth taking care...

Good day, we might correct before down here

The markets are waiting for some type of formal statement from the EU - so far the phrases "soft restructuring" and "debt re-profiling" sound like they'll work out some type of delayed repayment arrangement

Can someone clarify for me i'm not seeing things. On the USD/CHF 1 hr and 4 hr charts it appears a HnS is unfolding. Price action suggest it will see 87 handle again. Any input will be greatly appreciated...btw nice day out isn't it? Cold and rainy here in Western PA. Euro has been quite volatile.

Originally Posted by s_slo87

Can someone clarify for me i'm not seeing things. On the USD/CHF 1 hr and 4 hr charts it appears a HnS is unfolding. Price action suggest it will see 87 handle again. Any input will be greatly appreciated...btw nice day out isn't it? Cold and rainy here in Western PA. Euro has been quite volatile.

Hi Sean,

I never trade this pair, however I ran it in my beta program. No guarantee.
Seems to me you're right. We are bearish on the daily basis, as well as on the month basis. However bullish on a weekly basis, which could explain the H&S. Weekly trend is weak, so it should go south eventually.

Originally Posted by Cosco

Hi Sean,

I never trade this pair, however I ran it in my beta program. No guarantee.
Seems to me you're right. We are bearish on the daily basis, as well as on the month basis. However bullish on a weekly basis, which could explain the H&S. Weekly trend is weak, so it should go south eventually.

Thank you.

EUR/USD London session review and outlook, May 17 - 2011




Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

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Originally Posted by Mary R

The markets are waiting for some type of formal statement from the EU - so far the phrases "soft restructuring" and "debt re-profiling" sound like they'll work out some type of delayed repayment arrangement

It's all they have. This is a bigger problem than being discussed and goes beyond Greece. Greece is simply setting the platform for Portugal and Ireland. The EU is also caught in the need to raise rates for Germany but lower rates for about 6-8 small economies in the EZ. Going to be very difficult to manage effectively. Glad its not my decision.

Longed last week at 1.4110 support. The red square area where we previously bounced hard is now playing resistance so watching that area and see if we break through that, if so, will be looking for a move around 1.4400, or max 1.4500 only because the market may decide to touch the previous supporting trend line as resistance before the next move down.

Originally Posted by stkelrey

It's all they have. This is a bigger problem than being discussed and goes beyond Greece. Greece is simply setting the platform for Portugal and Ireland. The EU is also caught in the need to raise rates for Germany but lower rates for about 6-8 small economies in the EZ. Going to be very difficult to manage effectively. Glad its not my decision.

Yes, its a tough problem. And Germany seems to have assumed the role of the de-facto federal government of the EU, so they don't really have much choice except to continue to put up more money to bail everyone else out

This is the second time that news of Greece are moving this pair lower. It's especially effective in contrast to the expectation of the end of QE2 in US. However, QE is the only thing that's keeping US$ alive at this point and without QE, the Dollar will cliff dive to below 72 within a matter of weeks. When QE2 ends in June, it will be followed immediately by QE3, then QE4, and QE to the nth power. Once the news of QE3 come out, the EUR/USD will be back on it's track to 1.6.