EUR/USD continues to trade lower in line with is downtrend. The most prominent high is the 1.2885/1.2600 high and as long as we trade under this level we prefer short positions aiming for 1.2450. We might get a short term bounce to the 1.2530 level which is horizontal resistance and a good level to go short given the potential reward versus the potential gain.
A breakout above 1.26 would most likely lead to further gains and losses would be taken on short term EUR/USD bearish positions.
In the long run I am aiming for the 1.23 low and 1.20 in case we trade under 1.23 - the stop for a long term positions would to be placed above 1.2750.
If you have any questions about this scenario or anything else trading related feel free to write to me here on the forum.
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EUR/USD 60 min chart
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you were thinking it personally.. but I was thinking technically or logically. Still bears are dominating. Once the price enters bears territory it may see 2470 and then 2440. Below is the chart I posted earlier.
Purely in Bears territory. May Achieve the target 2440
got a 30 min set up thats waiting to explode upwards.
aslong as we above daily pivot, pressure is upwards and a break of weekly R1 (10,186) will bring it to R2 (10,225) but firs we have to break before we get that explosive move i think.
i am short, EU/GU/AU and ganna wait for a break lower for the yens before i enter short which should be soon.
there is some short term support for EURUSD 1.2470--1.2450 to watch out for
That was the move
USDJPY also corrects lower opens buy opportunities...anyone there?
Originally Posted by MAXJOY
You can see the 1H chart and how bearish feels at the moment.
Looking to sell the brake under the support trend line.
RSI break triggered, but not confirmed yet.
If the break downward fails, I'll look to buy in the area ob bounce.
also another way dollar can go, we can head up now & break higher,
or
we head down, test the weekly pivot which is good support and then head higher.
either way, im bullish uncle sam paper :P
It looks like the supporters of your Tobin tax are people who are already flying way up high over the poverty line, so they don’t give a damn about it cause the tax is just a hair from their scalps: Soros, Gates, Buffett, Sarkozy, Merkel… man! Matthew Sinclair is absolutely right when he says that Bill Nighy (a supporter of the tax) wants to rob money from savers and give it to politicians. Can´t be more true! Besides, the tax will inevitably be factored into the cost of doing business, and will therefore be passed on to the man on the street. Aren’t the profits from all types of trading, including FX, taxed in the U.S. anyway? I think that a good number of FX retail traders such as myself have put their lifetime savings on the line to have the right to access the financial markets where big rich players gather, with the hope of grabbing the crumbs that fall off the huge transactions that take place. This tax would simply kill all of our expectations, and the financial markets would remain a privileged place for the richest & most powerful, an obvious small minority. And this will obviously widen up the gap between the very rich and the very poor even more.
By the way, Bill Nighy is also right when he says about the tax that “it’s a sweet and brilliant thing”… for politicians and bureaucrats to benefit from that easily & effortlessly collectable money, of course!
May the Tobin tax never find support. May our pockets be spared from being ransacked by money-ravenous bureaucrats!
I share your sentiment. This tax is extremely bad for people like us! I'm not rich and powerful but take advantage of this market opportunity. Last night was no exception! Making money in your sleep. Program the right trades and know your confident in your directional picking ability! I posted this for everyone to be aware of what is likely coming! These people have no clue how to make tough decisions so they will take the easy road. That will pull my trading out of this currency pair. I will not give my profit to the bureaucrats to waste! People that support this tax don't fundamentally understand how markets work! I'll post another video later that explains why it won't work! I agree with you it is bad news.
Should be a fun day. Might turn into something good or bad.....I'm prepared! Start the week on a Sunday night! We will see what this market has in store for us all this wonderful week!
Nice trade last night! Love making Money! Short all the way!
Hello Traders! Hope you had a great weekend. We have a light economic calendar today, however, upcoming Greek summit, expected US Supreme Court ruling on Obamacare and end-of quarter/end-of-month repositioning all can lead to extreme volatility.
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Originally Posted by biggari
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