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

US GDP Could Move Euro But European SD Could Have Final Say- US GDP is out at 8:30 ET and is forecasted to come in at 1.2%. This is higher than the previous 1.0% but still anemic compared to 3 and 4% before the Global Financial Crisis.

A better than expected number could push Euro higher, but any negative news regarding the vote on the EFSF European bailout fund could push the pair lower.

maybe they will play with this

Daily view still same for me. keeping it simple and selling at previous support now resistance in the current downtrend. Will be watching how price reacts to Unemployment claims and Home sales. S&P under resistance so, we'll see what gives the fuel for either a rally or a pull down.

Hi,

There were some interesting points made in today's Bulls v Bears about the high/low of the day. I am confused as to how to use this information?

Any pointers appreciated.

Regards.

TT

Hello All

Thought I can share what I think about today's movements - just b4 US GDP release

GL Trading for All...

Hi all,
I wonder if this pair going to make a major move today. Seems heading to a sideways trading session??

Another intraday HnS possible.

15M--4H

if they will play Caps's scenario then we can see also this

Originally Posted by banison

Another intraday HnS possible.

with the sellers fighting the flows i'm not sure we're in the same position to get the drop today. the US GDP beat and EFSF news are v. positive. the bounce froom 20mins ago was off the fib, not the trendline, and that tells me we might be going up. In this case targets start at 13720 and end at 138

Originally Posted by T_T

Hi,

There were some interesting points made in today's Bulls v Bears about the high/low of the day. I am confused as to how to use this information?

Any pointers appreciated.

Regards.

TT

Hi TT,

I understand intraday highs and lows are important levels of resistance and support. I hope this helps. I believe Alejandro will talk about it more in his review of the day video.

P.

Originally Posted by MysticMegatron

with the sellers fighting the flows i'm not sure we're in the same position to get the drop today. the US GDP beat and EFSF news are v. positive. the bounce froom 20mins ago was off the fib, not the trendline, and that tells me we might be going up. In this case targets start at 13720 and end at 138

I agree. I don't think we're heading lower either. However, I've seen the pattern so I thought it may be something to consider.

Originally Posted by banison

I agree. I don't think we're heading lower either. However, I've seen the pattern so I thought it may be something to consider.

yeah, i'm sure if we go past the support its a long way to the ground. breakout trades ideal

short ratio has been building today. i think there may be a short squeeze coming either today or tomorrow afternoon:

Forex Open Position Ratios | OANDA fxTrade

From bankers "SL hunters" point of view there has to be a big move up around 150 pips before going going down to takeout SL's as much as possible.