The more i look at the 3160-200 area the more important it becomes to me. 100 DMA is there, 38% of yearly up trend is there. 38% of current downtrend started last week is there. failure or success to get above should be very telling.
It would seem apparent we are headed to war with Iran which will be global and devastating in nature.
What do you all think will happen with fx trading? Will it halt completely? Or will it still go on but be very volatile.
If one researchs the probability of Israel striking Iran, one will realize that it is not how they envision it - it will not be quick. It will lead to a global war on many fronts and last for a very long time. Probably until nukes started being exchanged.
another great opportunity to go long USD, and short the EUR..................
i have a bullish bias for USD and waiting for a lift off. my view is we head for another leg down on weekly but its possible we head back up to 1.3250/1.3200 (monthly pivot/resis) before we make that new low. im looking at the weekly chart and its screaming to me, DOWN!!!
we haven't passed the 34MA (weekly) and the momentum is starting to pick up to the down side.....
its the forex so anything is possible, including up side..........
So what opinions do we have for the reason for the EUR rally during the US session? I didn't have any event risk on my radar except CNY which I wouldn't have expected to impact EUR or USD...
Think like a man of action, act like a man of thought
It would seem apparent we are headed to war with Iran which will be global and devastating in nature.
What do you all think will happen with fx trading? Will it halt completely? Or will it still go on but be very volatile.
If one researchs the probability of Israel striking Iran, one will realize that it is not how they envision it - it will not be quick. It will lead to a global war on many fronts and last for a very long time. Probably until nukes started being exchanged.
The likelihood of war is actually diminishing rapidly. Talks are scheduled for next weekend and Iran has already made conciliatory noises. Israeli sources indicate that hard-headed realists within the Israeli military and intelligence establishment have been disillusioning Netanyahu of some of his cowboy fantasies about how easy a spectacular raid would be. Oil is sliding a little on prospects for an easing of tensions.
The last spike above the upper Boll20 also encountered resistances from the upper Boll60 and the Boll100 midline. The core set of indicators were overbought. Odds favored a reversal.
The reversal might go sideways for a bit at the temporary support offered by the Boll20 midline, but it is expected to get to the lower Boll20. If sufficient momemtum has built up while getting to the lower band, the downside action could extend to the next lower support offered by the lower Boll100.
The Whack a mole fractals produced higher lows. The next low was also a higher low but it did not even reach the lower Boll20. The core set of Technical indicators were also showing higher lows. This is a sign of strength that often sets up a rally.
Once the rally starts and the price trades above the upper Boll60, a return to trading back below the upper Boll60 can mark the end of the rally and the start of sideways consolidation where the Boll20 bands narrow to form a trading channel.
This was an awesome call Gregory...and two hours before it took off north.
I'm just opening an FXCM account and look forward to learning stuff on the forum here too.
Originally Posted by Gregory McLeod
EUR/USD Upside Bias as Long as 1.3032 Holds Target 1.3119 - Double Bottom in vicinity of M1 Pivot (1.3032) could mean a possible run up to R1 at 1.3119. A close below 1.3032 could mean that current Euro sell off is not finished.
zoom out of daily chart, with TL's im watching. Once Euro closed below Monthly S1, Looks like its finding footing back above S1. Would not rule out a move back to the main pivot point 1.3240 area. I went short a little after the open yesterday but took profit after 28 pips. Stood aside now long from 3105. Lets see if the bulls can make some kind of a run here. GL all.
The last spike above the upper Boll20 also encountered resistances from the upper Boll60 and the Boll100 midline. The core set of indicators were overbought. Odds favored a reversal.
The reversal might go sideways for a bit at the temporary support offered by the Boll20 midline, but it is expected to get to the lower Boll20. If sufficient momemtum has built up while getting to the lower band, the downside action could extend to the next lower support offered by the lower Boll100.
The price action broke upwards instead and will likely head towards the 250EMA currently around 1.31839.
Every time a new poll is put up it says I have already voted and I haven't
Me too. In fact it tells me I voted "I hold positions for weeks and months" when I haven't even been here for months yet! I hope that isn't an omen of how long I'll have to wait for my trades to turn good...
The Whack a mole fractals produced higher lows. The next low was also a higher low but it did not even reach the lower Boll20. The core set of Technical indicators were also showing higher lows. This is a sign of strength that often sets up a rally.
Once the rally starts and the price trades above the upper Boll60, a return to trading back below the upper Boll60 can mark the end of the rally and the start of sideways consolidation where the Boll20 bands narrow to form a trading [/IMG]
Interesting price alignments being battled out. Assuming the downturn from last week sticks and that this move up is a retracement rather than anything more positive:
The 38.2% retracement from 1.3379 comes out at 1.3164 - I have the weekly pivot at 1.3169
The 61.8% retracement of the same comes out at 1.3246 - I have the monthly pivot at 1.3240
The 50% retracement at 1.3205 seems to sit in the middle of a variety of channels on my screens.
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Originally Posted by nemo100 
