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

I want to point out that the euro will not go up if Greece uses the euro.Greece once when leaving the EU finds the EU is no longer a cash cow has ceased to cram into Greek money in the long term the euro will be a strong currency but not now. Where are we? we are do now wave 5 dowm. and noww we are in wave 2 up. 1.3300-1.3315 the end wave 2 and 3 wave goes down to 1.25 which is 161.8 fibonacci. Wave 3 will by 12345

It's still the crazy range for EUR/USD but a look at the USD/CHF daily chart might be helpful - and we still have equities on track to higher levels, oil had a sudden spike on Friday and gold is trying to build a base. GBP/USD is challenging the upper boundaries of its recent range and the fall in commodity currencies have been caught by their 200 day moving averages. But it's USD/CHF that interests me most as the correlation seems to be working lately.

Trying to keep it simple ...between 3270 (last close)-3333 (usd/eur becomes exactly 4/3) looks like an indecisive area

Bullish above 3333 (thereby also surpassing 3300 neckline in the process) for 3425+
Short below 3270 till the lower TL/ SMA, whichever comes first

What drove the EURO / USD at these price levels, considering that Europe these periods was during the crisis;

Attachment 119794

Originally Posted by danko316

I want to point out that the euro will not go up if Greece uses the euro.Greece once when leaving the EU finds the EU is no longer a cash cow has ceased to cram into Greek money in the long term the euro will be a strong currency but not now. Where are we? we are do now wave 5 dowm. and noww we are in wave 2 up. 1.3300-1.3315 the end wave 2 and 3 wave goes down to 1.25 which is 161.8 fibonacci. Wave 3 will by 12345

your first chart looks like a bull flag.........

GL...

I seriously think, it has nothing to do with what euro or other FX pairs are willing to do and so on. It is pure and simple DX.. It is at a point where it can bounce back up and or at a point to fall hard..
Once again on USDOLLAR chart, I have initially 9935 and primarily 9920 as a lvl to see what it wants to do.. That is to shoot back up or fall down.. This view has made trading easy...
Looking at FX and commodities and to an extend on indices, all are waiting for a breakout to the north..

GL.....

Originally Posted by stryker

...Looking at FX and commodities and to an extend on indices, all are waiting for a breakout to the north..

GL.....

Do you think so? I think I agree with you, at least that's what the charts are telling me.

Originally Posted by melbgirl

Do you think so? I think I agree with you, at least that's what the charts are telling me.

Well, it won't be hard to spot it out. It's not a single pair that is dying to get out of the range, its seems to be the masses here. Like all VS the DX.. 9920 clean break would be the sign for me... Hence this holds, we will see the contrary view coming into play..

GL....

Originally Posted by stryker

I seriously think, it has nothing to do with what euro or other FX pairs are willing to do and so on. It is pure and simple DX.. It is at a point where it can bounce back up and or at a point to fall hard..
Once again on USDOLLAR chart, I have initially 9935 and primarily 9920 as a lvl to see what it wants to do.. That is to shoot back up or fall down.. This view has made trading easy...
Looking at FX and commodities and to an extend on indices, all are waiting for a breakout to the north..

GL.....

Stryker, may I ask which USD index chart do you use? there seem to be lots of different ones.
.....I found this one: http://www.dailyfx.com/charts/netdan...OLLAR|fxcm_cfd
it could be the same you are talking about...

I may be a buyer last Friday, but my sight had never left 1.2+...

So we have a pinbar, we have a lower high, ideally a Monday spike up not exceeding the previous high may be a good entry point, but if it does exceed previous high, then patience is the best advice, and bears should wait for the next lower low and lower high to form before making an attempt at shorting, as there's potential for the upmove to reach 1.34...

There's no hurry to pick the top to short... because when it's confirmed, it'll will be much more than 100-200 pips below 1.30 in one continuous push. Better to be late and steady than early and be squeezed...



Good luck!

Originally Posted by melbgirl

Stryker, may I ask which USD index chart do you use? there seem to be lots of different ones.
.....I found this one: NetDania Charts | Forex Charts from DailyFX | DailyFX
it could be the same you are talking about...

yep, that's the one. I use power charts.. you can save the charts on it so better that way....

PowerCharts from DailyFX | Forex Charts | DailyFX

GL...

VXX : conclusion, can be used as a tool, but only as a confirmation, like many other tools , do not think i would use it for entry or exit. for Forex i,ll stick with Robert Balan EW, trend lines, moving average, GB, & few other. this would be plenty to focus for one lifetime.( now & then i get distracted on my journey, but often for a purpose.it was a learning experience. now back in the saddle.

At the open watch these stochastics on higher timeframes turn higher. To me these are strong bullish signs. I also found out that rally that started on 3/15 from 1.3002 actually may be a 1st wave instead of an A wave. With that said, if that's right I am looking at two levels, 1.3780 and 1.4050.

Holding long position from last week at 1.3185. Im bullish out of the gate for this week but we'll see how we respond monday to last weeks strong bull close. above 1.3275 im sure are many stops since the market has been bearish Euro. Im looking for US Dollar selling to continue. 1.3600+ still not out of the question.

in my opinion euro/usd will fall down suddenly in Monday