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

Fellow traders,

We topped up on our short last night at 1.2814 and then closed out this morning amidst weakness. However, we topped up again this morning at 1.2759 and have just closed out again. Our smaller short (taken out at 1.2662) remains in place.

Tomorrow Hollande and Merkel meet for another Summit - the solid rally in the equity markets in the last 24 hours suggest that it is quite possible investors are expecting a full deposit protection scheme to be announced to prevent a run on banks.yep This, along with the introduction of project and/or the issuance of Eurobonds is being expected by some.

We don't think this happens (for many reasons) - but if it does, it would provide the temprorary boost needed to extend the Euro's dead-cat bounce to c. 1.29-1.295 at which point we will enter a more aggressive short.

Eurobonds: Talk of Eurobonds has once again been brought to the table by the French and Germans are not having any of it. It makes sense - Germans part taking in such issuance would result in a sharp increase in longer term borrowing costs and not to mention, a proposal to mutualise debt would not go down well with German voters ahead of the elections. Hollande is clearly hoping tomorrow that talks of financing growth through issuance of further debt will go down well with his German/Austrian counterparts. Unlikely.

Project bonds - and a small amount (a few hundred million euro) is a possibility but this is hardly the "bazooka" the market is waiting for. At this moment it is far too early to tell whether this lays the foundation for a Eurobond programme later.

kind regards,
Midas
Euro Trader App (download it free on the Android App Store or as a Webapp)

Originally Posted by stryker

EDIT:: shorts out and added longs and GU likely to be getting in on the added as well...

GL...
lol.... Playing both sides as well........ well kinda looking a move closer to 2760 to be done with the last short and hit fresh higher for a move higher to 2850 but posisbly the lows are done as it seems...
I lost all the saved charts and that would be tough to redo them all..

Anyways this 4 hrs is what I have in mind..
USD 30 mins along with it as a kicker.. almsot to the breakout...

GL..

price found supp on USD on the weekly pivot, chances are we ganna head for a new high on USdollar.
i went long on the break of 1.28 and got stopped out at break even, n when it went back in for a short.

it broke rising wedge and went short with the big red candle closes below the wedge.

Originally Posted by jogold18

price found supp on USD on the weekly pivot, chances are we ganna head for a new high on USdollar.
i went long on the break of 1.28 and got stopped out at break even, n when it went back in for a short.

it broke rising wedge and went short with the big red candle closes below the wedge.

It's getting no brainer for me now.. I'm out though USD on 30 mins seems to have topped off but with Risk On, no saying where it may all go to...
Perhaps will join back in the US session.. GU still open for now....
USD 30 mins tried the earlier breakout and holding; normally a sign of rejection... will see.. have GU longs running with stops rt under the low...

GL..

Iam OFF this forum..
the rumours very distract me and in days like this I believe them and go against my own system which Ive been building for months.
The best Trading strategy is to TRUST your system and always do what (only) U think is gonna happen.
Anyway i take this as another proof of my system so im not dissapointed of loss I havent had in days..

Hello Alex,

Here is what I have. Range trading, simply.

Originally Posted by stryker

It's getting no brainer for me now.. I'm out though USD on 30 mins seems to have topped off but with Risk On, no saying where it may all go to...
Perhaps will join back in the US session.. GU still open for now....
USD 30 mins tried the earlier breakout and holding; normally a sign of rejection... will see.. have GU longs running with stops rt under the low...

GL..

i have resis 10,127 daily R2 together with monthly R3 as the same price. we break that at it will be easier for price to hit 10,250. next resis @ 10,140/50.
able to close above 10,125 on 4 hour, we might have a shot at next high...........

GL.

Originally Posted by Allan Tuscany

Iam OFF this forum..
the rumours very distract me and in days like this I believe them and go against my own system which Ive been building for months.
The best Trading strategy is to TRUST your system and always do what (only) U think is gonna happen.
Anyway i take this as another proof of my system so im not dissapointed of loss I havent had in days..

money management, risk/reward, discepline in your trading strategy - all been said in the last 24hrs on this thread!!!!!!!!!!!
if you dont listen you wont hear

I don't lie Eur/Usd always stop

Originally Posted by biggari

money management, risk/reward, discepline in your trading strategy - all been said in the last 24hrs on this thread!!!!!!!!!!!
if you dont listen you wont hear

Dont u think i know that LOL
I am very profitable with my OWN trading system including my MM etc.
It is just important to stick with it.. so thats why im saying im off...
I mean.. its mented to beginners.. dont trust everything you read

Originally Posted by Allan Tuscany

Dont u think i know that LOL
I am very profitable with my OWN trading system including my MM etc.
It is just important to stick with it.. so thats why im saying im off...
I mean.. its mented to beginners.. dont trust everything you read

How about you contribute to the forum and help the beginners by sharing your system and MM, and posting a chart or two?

I will close my longs @ 1.28 and will go short from there

In the daily chart we see the possible targets for the next days. It needs attention and I remind you that EUR/USD is at critical levels as the price has crossed down the midline of the rising channel that I presented in a previous post.

Scenario A
Expect an uptrend reaction where the price will be tested in 1.2900-1,2986 (middle bollinger). A break-up of the middle boll will target 1.3036 - 1.3050 (midline channel) where the price is expected for a hard test. A break-up will open the field to the daily EMA200 otherwise is expected to see a strong downtrend reaction to the 1.2625 area witch I analyze in scenario B.

Scenario B
The rate will continue downtrend and tested at the 1.2625 area where is the previous low of 13 JAN 12. Here again be careful because a break-down opens the field for 1.2194 to 1.2174. Otherwise is expected to see a strong uptrend reaction to 1.3036-1.3050 (midline channel).

Personally I believe at scenario A. Both scenarios are in play ...

Time required for targets (1.2900-1,2986 or 1.2625) 3 to 8 days

i m short at 1.2820 and 12770 stop 1.2820 target 1.2705 , 1.2660 , 1.2580

Good luck

if we bounce off this support we're stuck in short term range so wont sell again till 1.28ish

Daily FX Speculative Index For 5/22/2012

Retail Traders continue to to be short dollar and yen.

Happy Pipping!

Greg

SSI Details:
EURUSD - The ratio of long to short positions in the EURUSD stands at 1.24 as nearly 55% of traders are long. Yesterday, the ratio was at -1.01 as 50% of open positions were short. In detail, long positions are 18.1% higher than yesterday and 21.8% weaker since last week. Short positions are 5.3% lower than yesterday and 24.0% stronger since last week. Open interest is 6.4% stronger than yesterday and 2.0% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.