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

I'm still short as I called yesterday, however I've taken 1/3 off in profits. If it rebounds as I expect I'll add back around 1.262

Originally Posted by jpcash956

Hello I'm New here.

Welcome to the DailyFX Forum Community! We are glad that you decided to be part of a fantastic group of traders from all over the world. We look forward to any contributions that you may choose share with the community!

Whether you are a casual poster, or a reader, or a heavy contributor, we are glad you are here.

Traders, join me in welcoming jpcash956 !

I have the 21-day sma a bit lower near 1.2535. I closed out my short. Wondering if I should get back in to see this go down even more! Love taking profits baby! Nice trip DOWNWARD today!

Originally Posted by asylum

as long as we dont close below the last daily low its an uptrend, once we close below that ill look for shorts, simple i look at Higher high and higher low, when the higher low is taken out on a daily close ill be bearish.

Is "close" for you the New York 5PM or some other point?

Originally Posted by RocketMaker1000

I have the 21-day sma a bit lower near 1.2535. I closed out my short. Wondering if I should get back in to see this go down even more! Love taking profits baby! Nice trip DOWNWARD today!

Don't know about anybody else but I am short until it recovers above 1.2589 my first target, that should of held in my book. Cheers great day.

so is this the correction to the correction?

To soon to tell if you're asking me, but like I say I'm not chancing long below 1.2589 especially if drop below 1.2540 today

I'm not sure but i saw a possibility that could be a wave B and target is near at minimum of this year.....Touch and go with "C" up to 1.3. Is a possibility but only if break 1.25

Originally Posted by RocketMaker1000

Can this baby keep going down.....Still loving the short!

Long live the Euro short. A few points though. Was listening to a hedge fund manager who made some interesting statements:

1) Heavy short positions still in the market on the Euro. Implied vol (1 month) has come down from 13 to 11% recently. This reduces the premiums on put options on the currency and a drop in the price of the asset makes it less desirable to hold. As a result, we could get a continued unwind of shorts resulting in further strength in the currency. This possibly could make the Oracle's prophecy come true (i.e strong spike up after today's drop to 1.2550, back to 1.275-1.28).

Btw Oracle = Alejandro. The man deserves a medal.

Rob - I hope you made a some good moolah today? Can you make sense of the Spanish stress-test reaction - its as if the market just doesn't believe Rajoy anymore? Or is it basically the market saying "ok so Spain is not in such bad shape, hence prospect of QE3 is off the table for now, hence buy the dollar, leave the euro alone, net net - eur/usd falls"?

Mr. Wong - you?

Midas

London session review and outlook June 21 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.




Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.

Originally Posted by NHAppraiser

So I disn't get the 4h close where I liked it.
I am changing my target to around 1.2545. I am short from 1.26065.

It took a long time and was nerving for a while but it reached.
I think we see down to just under 1.25 and than up to about 1.2790 or a bit less. Based on the 4h candle.
Just my view.
Edit: we may see a touch of 1.2450 but that should be it. Most likely I see the turn around at about 1.2490.

Originally Posted by NHAppraiser

It took a long time and was nerving for a while but it reached.
I think we see down to just under 1.25 and than up to about 1.2790 or a bit less. Based on the 4h candle.
Just my view.

Yeah I also would like to see the price stop moving down and toward upwards.. It would be very good setup for my system and also I dont want anyone to have a loss.. since we know there were some guys longing the lows .. I dont do that and yes I miss some big moves because of that.. but as I said.. two traders two different minds.. noone can be just same.. I just want to see all of us hard working guys profitable! Im sorry for my previous discussion about gambling.. If I have another strategy than someone else it doesnt mean that it is the only right way.. I just dont want to see traders loosing and also wanted to prove my point of view..

GUYS I WANT TO THROUGH THIS IDEA TI YOU , EURO NOW TESTING THE 2550 IN CASE WE HOLD IT I THINK WE GONNA BREAK THE DOUBLE TOP FORMED THERE AT 2750, BUT BEAR IN MIND THAT THE LONG TERM TREND IS BEARISH

Originally Posted by Allan Tuscany

Yeah I also would like to see the price stop moving down and toward upwards.. It would be very good setup for my system and also I dont want anyone to have a loss.. since we know there were some guys longing the lows .. I dont do that and yes I miss some big moves because of that.. but as I said.. two traders two different minds.. noone can be just same.. I just want to see all of us hard working guys profitable! Im sorry for my previous discussion about gambling.. If I have another strategy than someone else it doesnt mean that it is the only right way.. I just dont want to see traders loosing and also wanted to prove my point of view..

It's OK everybody, I closed my shorts, you can all take a turn going long, I won't mind!

Just got back home to see I hit limit at 1.2540 from 1.2666 a good day I think !! For the ST uptrend to hold we can't go much lower or the bears will eye a retest of 1.2285 I am out for the night and tomorrow is another day, Good luck if you trade over night and thanks for all your shares and likes.