ganna take stryker's chart for a min with his trend lines and together should give a picture. a break higher for USD takes us to 10,125 (monthly S3)..... strong support 9,985 (monthly S2 & weekly pivot orange)........
similar views with slightly diff price targets......
ganna take stryker's chart for a min with his trend lines and together should give a picture. a break higher for USD takes us to 10,125 (monthly S3)..... strong support 9,985 (monthly S2 & weekly pivot orange)........
similar views with slightly diff price targets......
hope that dip takes the euro to 2900/50 area so i can go short again
good analysis is easy
making money from your analysis is a whole new ball game
Another way of looking at the PA is from the perspective of the trend.
61.8 Fibo from this week's high to low at 1.286 was a great level to short.
I'm still long, however.
In order to make a profit, learn first how to take the loss.
EUR/USD created a new lower high this morning which is in line with the overall down trend. We can get a bounce and try to take out the new high but as long as we trade under 1.2875 the trend is bearish and I expect a decline to 1.28. In case of a breakout above 1.2875 the trend turns neutral.
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EUR/USD 60 min chart
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The Head & Shoulder on the daily time frame got triggered due to the gap down last week. On monday, May 7, we had a nice retest of the neckline, which acted as resistance and led to a sharp price drop. The market took out the low of January 23 (stop fishing) and so far respected the support zone (analysed in EUR/USD Market Analysis (14.05.12)).
Below the market is the weekly trend line (low of June 2011 and January 2012) which could act as support. The classical target of the H&S is the length of the head (A-B) projected from the neckline break (1.3061) at about 1.2551, which would also clear out the striking low from January at 1.2624.
However, it is to early to make these assumptions and further price action will give hints of what to expect.
Spyro, what are your leaders saying, we need some news from you sir
DAILYFX NEWS: Party leaders have begun their meeting with the Greek President in a final effort to form a coalition.
It is extremely difficult to create a coalition government and if this happenes it would not have staying power. The major parties have chicken ---- from their fear. They now fear Tsipras party which comes first in the polls . That is the reason that they dont want elections. Citizens does not tolerate Merkel's austerity program anymore that mathematically leads our country to disaster. It is determined at any cost to leave the Euro if the EU policy doesnt change... we have to wait a little more for elections and after short EUR without setting stop...lol
breaking news..Greece is going for election...go short...
Does this mean Greece is refusing to accept the terms of additional support from the other EU members( basically more austerity?) If so it could mean that Greece is on the verge of leaving
Does this mean Greece is refusing to accept the terms of additional support from the other EU members( basically more austerity?) If so it could mean that Greece is on the verge of leaving
This means that Tsipras anti bailout partie will win the election...
It would be nice if politicians and political parties fighting in elections can open their books and plans for public inspection such as a 5-yr rolling forecast done in corporations so people can know what's going on and feasible or not. Fighting on sensational slogans such as 'bailout v. anti-bailout', 'cuts v. no-cuts' is totally populist posturing and a pointless fools' game.
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Originally Posted by jogold18 
