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

I've explained, that the blue cloud will provide support, but since this is end of week, there will not be much energy left in either directions, the moves will come next week, when the pink and blue clouds meet and cut below blue cloud, then it will be bearish. If it doesn't meet and pink cloud goes above green cloud again, then it form a very bullish pattern to break upwards. In either case, wait for next week. Timing, is everything

ps: There's no need to put a like here...

Originally Posted by Sim3

Last week, it touches 3040 and rebound strongly. Will it happen again or continue the downtrend? Based on my 1hr and 4hr chart, there are still potential chance for downtrend. RSI shows its already oversold. I have set an open position to long at 3055 so let see if it touches that today.

The 1hour next target is the lower Boll100 currently around 1.30513. That is close to your number. But if the markets overreact watch out for the next lower levels around 1.2986.

Originally Posted by ridethetrend

I have noticed that the last little while the euro has made a low or a high at around 8 - 10
Pm . For the next trading day.

Something has changed .

Any input would be great

Thanks

"PM" for Westerners is the morning market in Asia. The Asian session has been weird lately, I will agree. What does it mean? Sorry, can't help you, I'm a little puzzled too.

Originally Posted by AV1

I think you're willing to convert, you just don't know how Robert

Nowadays I am trying to put together a "syncretist" faith ("syncretism" is the name for cafeteria-style religious systems based on a little of this and a little of that).

Originally Posted by Paul Chin

yah! probably not this week. now is only 1.3094, still got 94 pips to go... Hope nobody who did short lose money from it. And Mr Robert, Do make a post when you decide to short. Like to know how a fundamentalist make a non-technical trade. I may/may not decide to join. Good luck!

I shorted at 3155 when it had obviously come down from the ceiling; it made a nice fall to 3100 and I got out, then watched it nervously for a while and decided to put the short back on. I had been "expecting" that 3100 would be a floor and it would start back up from there again, but my second thoughts proved to be correct and I've made another ~25 pips but am getting nervous. I have an entry-order for larger shorts at 3010: I don't think it will go anywhere near as low as 3000 unless it is going to crash right on through, probably fast; if it goes down that low, that means the big-buyers have withdrawn from the market completely and it is time for the free-fall. Right now (12:15 EDT, 45 minutes before Lockhart of the Fed gives a talk, not Bernanke as said earlier) it is plateauing, probably nobody wants to be in until they hear more Fed-speak and have time to apply their Bat-decoder-rings to it. I'm going to leave the smaller shorts that I have now in play past 1, but ready to close them quickly if upspike starts, or after an hour or so more if plateau holds (once a support has held for a while, the big-buyers decide to come on in as price will not improve for them).

since the core indicators are not yet oversold.

Potential level to reshort?? Currently at 1.30964 and dropping.

I believe even on Benny Boy speech if we end up dropping we most likely will see 3025 ends up holding the price and hence still be without a defo breakout..
Under 3025 close on a 30 mins it should head sub 1.3000 ...
Though on a bigger note, 3042-45 is the supp ... 3025 is extended on 30 mins..

GL..

The 5min 50EMA is equivalent to the 1min 250EMA. Hopefully, by the time the price reaches the 50EMA, the SSD indicator would have gone to overbought and started dropping. That would make for a very nice short entry.

Originally Posted by Clivewaverider

The pink line in that chart I posted is the 2 day Hull - currently at 1.3063. It will turn gold when it is confirming up. until then, expect it to be 'pumped' for confirmation. I will be happy with that for now.

Well, I have been away on holidays but this has been an really very good week for me; long first and then short yesterday into the target zone. I am closed out of all trades now and look forward to being back at the helm Monday morning.

Have a great weekend all.

Originally Posted by Clivewaverider

Well, I have been away on holidays but this has been an really very good week for me; long first and then short yesterday into the target zone. I am closed out of all trades now and look forward to being back at the helm Monday morning.

Have a great weekend all.

Congrats Clive! Thanks for sharing what you could!

It is Bernanke, not sure where I got that it was going to be Lockhardt talking. Anyway it's all banking regulation minutiae, not fiscal policy, no effect. Little chance of a major drop today, perhaps a little run-up if support in the 3070's holds another hour or so-- I'm closing shorts until/unless drops below 3020.

Originally Posted by rcopadilla

The 5min 50EMA is equivalent to the 1min 250EMA. Hopefully, by the time the price reaches the 50EMA, the SSD indicator would have gone to overbought and started dropping. That would make for a very nice short entry.

I remember reading on a Forex blog years ago of a group of guys that had an "always in the market" system/strategy. Positions were added and removed at turning points but there was always a trade on. I am thinking that your method could be adapted for something like that.

Originally Posted by Gregory McLeod

I remember reading on a Forex blog years ago of a group of guys that had an "always in the market" system/strategy. Positions were added and removed at turning points but there was always a trade on. I am thinking that your method could be adapted for something like that.

To be always be in the market requires a computer program to monitor the price action since we humans have to sleep sometimes and strange things happen when we are sleeping!!! Am working on such a program, but since the human brain is so much more powerful at processing and adjusting to multiple factors and datasets than a mechanical program, the program is still a work in progress. It is currently easier to manually trade than to have the program to do so since some of the trading logic is incomplete.

The upper Boll20 has dropped to below 1.3100. A channel is expected to form. Hopefully the higher lows that are showing up will cause the price to meet the upper band.

The 5min 50EMA has dropped to 1.31843 and is starting to level off. That is within the price range of the current sideways action.

Originally Posted by Gregory McLeod

Congrats Clive! Thanks for sharing what you could!

Thanks Greg.