|
|
 |
|
10-07-2009, 01:22 PM
|
 |
DailyFX Power Course Instructor
|
|
Join Date: Jun 2007
Posts: 5,842
|
|
Quote:
Originally Posted by Bilstein
(On the hourly chart)
It appears as if the EUR/USD pair has been rangin' since 7:00am EST between the .50 and.382 retracement lines of the 9/22-10/2 downtrend so I've been flat all day as my limited abilities haven't quite given me the confidence to trade in ranges. But from what I do know, the .50 level provided some serious resistance throughout the 9/22-10/2 downward move so I'm thinking it may provide some decent support in the near future. I'm goin' with 1.475 as being key - that level having been tested here once already on 10/6.
With all the news flowing around out there -- which I don't tentatively follow -- anything is possible. Need to work on my fundamentals  |
Bilstein, good to have you posting with us in the trading community. Welcome!
Right now the pair is trending down on the 1 hour chart but so far is still upward on the daily chart. So right now we're seeing a short term correction within a larger uptrend so far.
Now if the financial markets correct harshly soon like I think...then EUR/USD could tumble quite a bit more on the daily chart.
However, I don't trade my opinion as much as I trade what I see unfolding on the charts.
__________________
Come join me at the FXCM Las Vegas Expo along with the FXCM course instructors and DailyFX analysts May 3-4th: http://www.fxcmexpo.com/
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
|
10-07-2009, 01:31 PM
|
 |
Member
|
|
Join Date: Oct 2009
Posts: 61
|
|
Quote:
Originally Posted by Sean Hyman
Bilstein, good to have you posting with us in the trading community. Welcome!
Right now the pair is trending down on the 1 hour chart but so far is still upward on the daily chart. So right now we're seeing a short term correction within a larger uptrend so far.
Now if the financial markets correct harshly soon like I think...then EUR/USD could tumble quite a bit more on the daily chart.
However, I don't trade my opinion as much as I trade what I see unfolding on the charts.
|
Glad to be here, brother. There's so much to learn and I figure throwing myself into a community of experienced traders and analysts would be the best way to grow. I bailed out of the EUR/USD last night when patterns started getting less recognizable to me I made a few small-profit trades throughout this week and last week. Overall I'm still staying bullish on the pair but I'm going to continue playing it safe and waiting for opportunity to come by watching the market move forward.
I like the fact that there's a news section available here. I've been so encompassed with learning technicals and patterns that I haven't kept up with the news and could have never been able prepare for a major financial market correction, lol.
|
10-07-2009, 01:44 PM
|
|
DailyFX Power Course Instructor
|
|
Join Date: Jun 2007
Posts: 5,842
|
|
Quote:
Originally Posted by Bilstein
Glad to be here, brother. There's so much to learn and I figure throwing myself into a community of experienced traders and analysts would be the best way to grow. I bailed out of the EUR/USD last night when patterns started getting less recognizable to me I made a few small-profit trades throughout this week and last week. Overall I'm still staying bullish on the pair but I'm going to continue playing it safe and waiting for opportunity to come by watching the market move forward.
I like the fact that there's a news section available here. I've been so encompassed with learning technicals and patterns that I haven't kept up with the news and could have never been able prepare for a major financial market correction, lol.
|
Bilstein, yeah I really enjoy all of the facets of this site too. You can get so many things here...it's like a "one stop shop" for forex. I really like that. I hate having to go to tons of sites do dig up what I need.
__________________
Come join me at the FXCM Las Vegas Expo along with the FXCM course instructors and DailyFX analysts May 3-4th: http://www.fxcmexpo.com/
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, watch this video as your how-to guide to the DailyFX Forums: http://forexforums.dailyfx.com/daily...ion-video.html
Email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.
Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com
|
10-07-2009, 02:22 PM
|
 |
Technical Trader
|
|
Join Date: Apr 2004
Posts: 1,942
|
|
|
EURO CHART
Pretty much the same charts i posted a day earlier.
4650 if stands could provoke the bounce all the bulls are looking for... A break and we head for 4585-90 test...
The charts are indeed messy which basically explains neither the bulls not the bears are in control at the moment...
Resis... immediate 4690-4710 followed by 4750.
Supp... immediate 4650 followed by 4580 ish..
The bigger tgts are 4845-60 on the north and 4490 on the south side...
much bigger move could unfold if 4480 goes for a clean break as on the tech aspects it would give a chance for the charts to correct and form clear channels to be visible..
This is just my guess but as long as 4480 ish stands, upside remains the winner..
GL ALL..................
__________________
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
|
10-07-2009, 05:01 PM
|
 |
Member
|
|
Join Date: Feb 2008
Posts: 522
|
|
|
Hi everybody,
I am living in euro-country, and a couple of years ago i changed my euro mortgage into yen. No worries on the exchange rate, because i opened a buy and sell JPY at the same time. So I am hedged. Plus, i sold my house outright value December 2015 at a yen rate which looked very favorable at the time. Maybe because a yen is worth so little, that any amount looks great. I am not sure. Anyway, now i am thinking about unhedging the hedge, by either selling or buying the yen. But it depends a bit on what way the yen will go. Up or down. Anybody here aboard who has a clear view on the euro against the yen? It may be a bit off topic, but so much depends on the outcome, i need to know for sure what to do.
Hope you can help.
GL.
|
10-07-2009, 05:01 PM
|
 |
Member
|
|
Join Date: Jun 2008
Posts: 444
|
|
Quote:
Originally Posted by maaad
Hello, this is probably my first and last post. I've not idea but im trying to understand all of them , and my low level english will not help. If someone wants to write me in spanish in a private post i woud appreciate. I've got a question, how of you think trend dollar is going near 1.6 towards the end of this year? Im considering now change my mortgage from euros to USD, and return then in euros drecreasing my debt.
I apologize if my question is inconvenient at this forum, thank you
cheers
by the way: hi, perez 129. Need some advices! now its really maaad
|
Hi Maaad,
Firstly, welcome aboard. It's great to have you on the team that is the online trading community (thanks to Sean for beefing up the team!!).
I am unable to answer your question re longer term movements with any confidence, so I'll stay quiet on this topic.
However, I think this sort of question can easily be answered by any number of the skilled Ellioticians that post on here. EW is awesome at predicting most moves in the market, if not all of them. Sometimes you have to do an alternate count after the event, but that is unavoidable and shows the system does work. In fact, I know Jamie (one of the analysts on the team) posted a long term count a few months ago, where he forecast EURUSD falling below 1.00 in the long-term (I think). And Jamie sometimes get predictions right.
Paul
__________________
When the facts change, I change my mind. What do you do, sir?
John Maynard Keynes
|
10-07-2009, 06:12 PM
|
 |
Registered User
|
|
Join Date: Aug 2009
Posts: 4
|
|
|
Where do you see the long term resistance and support for the Eur/ Usd?
|
10-07-2009, 07:52 PM
|
 |
Member
|
|
Join Date: May 2007
Posts: 447
|
|
Quote:
Originally Posted by Sean Hyman
...
Short NZD/USD at .7330....based off of the below analysis. We'll see how it goes.
|
Hey, Sean... did you cover it? I am long on this two... NZDUSD, AUDUSD... and EURUSD as well... and... and... LOL... seriously, this geographical area is a fashion right now... also long on AUD/JPY since Monday...
best,
Last edited by arodriguez; 10-07-2009 at 07:56 PM..
|
10-07-2009, 09:17 PM
|
 |
Member
|
|
Join Date: Jul 2009
Posts: 394
|
|
Quote:
Originally Posted by arodriguez
Hey, Sean... did you cover it? I am long on this two... NZDUSD, AUDUSD... and EURUSD as well... and... and... LOL... seriously, this geographical area is a fashion right now... also long on AUD/JPY since Monday...
best,
|
Good solid trades with the trend, "the trend is your friend" as they say. |
10-07-2009, 09:23 PM
|
|
Member
|
|
Join Date: Oct 2009
Posts: 61
|
|
|
Takin a small, late-night ride.
So I've been tracking the pair all day waiting for a channel break inside the trend and took it tonight for 20.7 pips. I was a little late on the entry but, as a novice, any good trade will do
Ignore the would-be "wave count" numbers on the chart, I'm still trying to learn EW and they didn't in any way influence my decision to open the position (because they're probably all wrong). 1.4750-area is still pretty hefty resistance for now and looks like we may penetrate that tonight. But I'm gonna go to bed before my mind turns to mush again from staring at charts for 12 hours lol.
Last edited by Bilstein; 10-07-2009 at 09:39 PM..
|
10-08-2009, 03:06 AM
|
|
Member
|
|
Join Date: May 2008
Posts: 177
|
|
|
I feel a fall below 1.4762 only can stop this bull run.
any one have any guess were Euro is heading?
|
10-08-2009, 03:16 AM
|
|
Registered User
|
|
Join Date: Oct 2009
Posts: 1
|
|
Quote:
Originally Posted by sibi
I feel a fall below 1.4762 only can stop this bull run.
any one have any guess were Euro is heading?
|
i am eagerly waiting for its fall. My stake is in Sale. |
10-08-2009, 05:01 AM
|
|
Member
|
|
Join Date: Nov 2008
Posts: 74
|
|
Quote:
Originally Posted by Kumar Amitesh
i am eagerly waiting for its fall. My stake is in Sale.
|
Do you think we have reached the top. I was moore loking for buying oppurtunity since we break 1.4775. I think the pai can drop to 1.475 or 1.476 and then push up to 1.485 or more. I will wait till the ECB declaration and then see if I can enter a long.
Last edited by jpetit; 10-08-2009 at 05:18 AM..
|
10-08-2009, 06:34 AM
|
|
Member
|
|
Join Date: Sep 2009
Posts: 21
|
|
|
end of this trend
Although when will this trend end friend, as they say all things come to an end .. and this one is around the bend..
just for laughs
simon
|
10-08-2009, 07:27 AM
|
|
Member
|
|
Join Date: Oct 2009
Posts: 61
|
|
Quote:
Originally Posted by SIMON21409
Although when will this trend end friend, as they say all things come to an end .. and this one is around the bend..
just for laughs
simon
|
Well put, lol! |
|
|
| Thread Tools |
|
|
| Rate This Thread |
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is On
|
|
|
|
