Considering both Technical and sentiment analysis from last week and this week, eu is going to 3170 this week before any major or minor retracement. Enjoy!
This feels like we just had a 'B' wave up after an ABC down - I think the 3 day low at 1.2838 and just above S2 is the place for me to go long. This congestion around the pivot does not feel too impulsive at this stage.
I am short with stop above the high 1.2952, albeit against daily trend. Just betting with the gains from being long this morning.
*HIGH PRIORITY* Economic Announcements for the Week of Jan. 23 to 27th 2012
*HIGH PRIORITY* Economic Announcements for the Week of Jan. 23 to 27th 2012
Happy Chinese New Year! This week will be marked by decreased market volume as many Asian markets will be closed in observance of the Lunar New Year. In addition to rate decisions from the US and New Zealand and a host of other market moving economic announcements, traders should be prepared for fast illiquid markets as well. The Year of the Dragon has much promise and risk in store!
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We pretty much reached 1.2850 which was the target of Friday's alternative scenario. We are now bullish after the strength shown by buyers this morning. We look for a move to 1.2985 as long as we trade above the low of 1.2865. A breakout above 1.2985 opens up for a move to 1.3025.
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We retraced back to 1.2910 which happened to be an excellent opportunity to go long, now 120 pips later we reached our price target. Price could continue to 1.3050 but I would personally take profit and wait for a retracement to the area of 1.2950 to go long once again. The trend will remain bullish as long as we trade above the low of 1.2910.
Easy E/U long coming to a close. As noted on the chart, I'm still expecting that retrace before the gap fills but, that may not come. In any event, once the gap fills it's time to close the trade and try to determine if the trend will reverse or continue.
Here is a sneak peak into the DailyFX Plus Speculative Sentiment Index which clearly shows how retail traders are positioned:
EURUSD - The ratio of long to short positions in the EURUSD stands at -1.36 as nearly 58% of traders are short. Yesterday, the ratio was at -1.60 as 62% of open positions were short. In detail, long positions are 6.8% higher than yesterday and 4.9% weaker since last week. Short positions are 9.1% lower than yesterday and 52.6% stronger since last week. Open interest is 3.0% weaker than yesterday and 5.2% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.
This indicator is updated twice daily at: https://plus.dailyfx.com/fxcmideas/i...2-01-23_2.html. Just use your live FXCM account username and password to access this website.
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
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EUR/USD EN ESTOS MOMENTOS LAS NOTICIAS TIENDEN A FAVORECER EUR
LAS NOTICIAS QUE SE HAN VENIDO DANDO EN EL TRANSCURSO DE ESTOS ÚLTIMOS DÍAS TIENDEN A FAVORECER EL ALZA EN EL EURO PERO LOS NERVIOS NO SE HAN CALMADO Y CUALQUIER NOTICIA ES UN DETONANTE SERIA OSADO DECIR CUAL ES LA DIRECCIÓN A TOMAR
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Here is a sneak peak into the DailyFX Plus Speculative Sentiment Index which clearly shows how retail traders are positioned:
EURUSD - The ratio of long to short positions in the EURUSD stands at -1.36 as nearly 58% of traders are short. Yesterday, the ratio was at -1.60 as 62% of open positions were short. In detail, long positions are 6.8% higher than yesterday and 4.9% weaker since last week. Short positions are 9.1% lower than yesterday and 52.6% stronger since last week. Open interest is 3.0% weaker than yesterday and 5.2% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.
This indicator is updated twice daily at: https://plus.dailyfx.com/fxcmideas/i...2-01-23_2.html. Just use your live FXCM account username and password to access this website.
I just voted, my analysis is bearish, my long term view is bearish. I believe the euro will be between 1.25 and 1.30 at the end of the first quarter of 2012. I have short positions from 1.35 and hope to keep them a bit longer.
Euro is trading higher and I can't think of any better price to enter long than today's pivot point. 1.298 is also previous high and test of that level provides a good buying opportunity to target R1. Below the pivot I see a further decline to 1.291.
P.S. Ikee, I researched the web for qualifying factors of a bull/bear flag. The TLs have to run parallel. I didn't find anything about how many legs it should have.
From stockcharts.com: Because flags are usually too short in duration to actually have reaction highs and lows, the price action just needs to be contained within two parallel trend lines.
The bottom may already be in place by fibonacci support at 1.2639, however bulls should lack confidence at this juncture, there is plenty of space for price to drag along support for several months before a strong rally materializes from the multi year up trend line... Bears should exercise extreme caution here...
I favor continued support in EUR/USD over coming weeks... The market is showing considerable support exactly where it should be to bolster bulls...
I am now out of my long term short positions in this pair...
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Originally Posted by Alejandro Zambrano 
Can anyone offer any tips on how to play MARKET OPEN"S
