Things can turn around for DX SPOT at imp resis..
Euro possibly to 3110-15 if breaks poss inv HNS neck on 30 mins..
3160-70 if bounce continues..
A break under 1.3000 tgts 2830ish in coming days...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
EUR/USD is trapped between 1.3000 and 1.3090 with a weak bullish bias. It would not surprise me if this bullish bias ends at the NY open if we do not surpass 1.3090. A failure to surpass 1.3090 would eventually lead to a move down to the low end of this range (1.30). A breakout above the 1.3090 high would shift the overall bearish trend meaning that bulls would be in charge, if this happens expect a move to 1.3125 and higher in the coming sessions.
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Last edited by Alejandro Zambrano; 03-15-2012 at 06:04 AM.
Charts from today'sedition of the webinar Bulls vs. Bears @ The Trading Room 11:30 GMT Mon - Fri
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First target achieved. I moved second target a few pips lower...If EUR/USD holds above the 1,3067 area, tommorow maybe will see an attempt to 1,3156 (second target) near the daily ema 50 area until it starts the second pull back attempt to 1,2975. Attachment 118087
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From here is pretty clear, while above 1.3070 the correction from today's move is bullish and shallow holding the 38.2% correction. While above here and an hourly close above the
blue 100 hr MA the bulls are in control and we could see more trend to trend line resistance.
The 61.8% retracement of today's rally is at 1.3048 almost exactly where the 50% fibo is on the daily, This looks like a nice line in the sand for being bullish.
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