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

Originally Posted by rcopadilla

The chart shows the bounce up occurring at the same level of the last blastoff stage of Friday's rally.
A lower low is expected to finish tagging the BB20 midlines of the Daily and the 4H, the 2H lower BB20, and the 8H midline. The 8H BB20 lower band is around 1.2530 and rising. An downside extension could reach all the way down there but is not likely. Even if it did, it will be quickly faded since the CCI, RSI, MACD and SSD are already rising out of their oversold zones. The expected new low in the 1.2550 area should be on some Positive divergence. That is not good for those who linger in their short positions.

The midline of the Weekly BB20 has dropped below 1.30. The weekly price action has been fairly weak and after the midline is tagged, odds favor a reversal back to the lower band instead of a continuation up to the upper band.

So far, so good. The price action has been behaving as predicted. A lower low printed which tagged the BB20 midlines of the Daily and the 4H, the 2H lower BB20, and the 8H BB60 midline. There was no downside extension to the 8H BB20 midline.
Initial upside target is the 4H 250EMA (1.2666). That resistance should fail and the next target is the upper BB20,BB60 bands around 1.2730.

Originally Posted by root-minus

all out 1.26000

waiting for the fundie dude/gals with their prespective first

Of course you know my perspective: I cannot predict whether the market will or won't go up, only what the consequences are. This rally since Thursday will accelerate the contraction of the south by nearly 1%/year of GDP (that is, about 0.1% if the high prices persist a month) in Greece, about half that in Spain and Italy, block Germany from resuming weak growth confirming the contraction, and after a time-lag of two or three months, spread the contraction to the Benelux countries.

Originally Posted by root-minus

then l will offer my supply/demand explanation which was in the chart for everyone to see anyway

After the fact, anybody can read the charts whichever way turns out to have been necessary. Rcopadilla was talking about this BEFORE, which is more useful. EDIT: sorry for the snark, I do see now you posted "further add on downbar, out upper buy" prior to the spike.

Originally Posted by Robert Eckert

Of course you know my perspective: I cannot predict whether the market will or won't go up, only what the consequences are. This rally will accelerate the contraction of the south by nearly 1% of GDP in Greece, about half that in Spain and Italy, block Germany from resuming weak growth confirming the contraction, and after a time-lag of two or three months, spread the contraction to the Benelux countries.

After the fact, anybody can read the charts whichever way turns out to have been necessary. Rcopadilla was talking about this BEFORE, which is more useful.

thanks for that


but l am not reading after the fact, l was in the trade BEFORE THE FACT

Originally Posted by root-minus

thanks for that


but l am not reading after the fact, l was in the trade BEFORE THE FACT

Let them fret about if the exchange rate is 'right' or not. You trade the charts and bank your $$$. That's what matters as a trader. Well done. Nice to see a PA trader here.

Originally Posted by DolceVista

Let them fret about if the exchange rate is 'right' or not. You trade the charts and bank your $$$. That's what matters as a trader. Well done. Nice to see a PA trader here.

Thanks DolceVista


l do suppose thats what really counts


will leave the fundie dudes/gals to their fundie stuff

watching for sell 1.26570 with possible adds towards 1.26700

London session review and outlook July 3 - 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.




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Originally Posted by root-minus

all out 1.26000

waiting for the fundie dude/gals with their prespective first, then l will offer my supply/demand explanation which was in the chart for everyone to see anyway

could it be reports of a cheese warehouse fire in france sending brie market through the roof

Originally Posted by biggari

could it be reports of a cheese warehouse fire in france sending brie market through the roof

thats ridiculous, you can't be serious

Originally Posted by root-minus

thats ridiculous, you can't be serious

well i missed my entry cos by time news out market had mooved

there is also a rumour the greeks have discovered an extract from a rare cacti that may cure austerity

Originally Posted by biggari

could it be reports of a cheese warehouse fire in france sending brie market through the roof

You can always swithc to Camembert....

Originally Posted by biggari

well i missed my entry cos by time news out market had mooved

there is also a rumour the greeks have discovered an extract from a rare cacti that may cure austerity

unbelievable drivel


sorry if that sounds harsh, but seriuosly dude, not taking this seriuosly

Originally Posted by DolceVista

You can always swithc to Camembert....

its ok it was just a stunt by french cheese industry to increase prices - fade the move

Originally Posted by biggari

its ok it was just a stunt by french cheese industry to increase prices - fade the move

ok sold - full margin

Originally Posted by root-minus

unbelievable drivel


sorry if that sounds harsh, but seriuosly dude, not taking this seriuosly

well without the fundamental driver you dont get the market moves!