As I suspected, the market sold off. This made the EUR/AUD shoot up. Another opportunity, but need to be careful. Watch the market.

Patiently watching even over lunch and it really has not moved much in the last little while. It spiked up then came back around 1.6650 - 60 which happens to be where the 10, 50 and 100 day MA's hover with an RSI that is around neutral. I am waiting to see a pullback to the lows again or at least into the 1.6630's range and then check the charts for a long opportunity.

The ratio of long to short positions in the EURUSD stands at -1.41 as nearly 58% of traders are short. Yesterday, the ratio was at -1.80 as 64% of open positions were short. In detail, long positions are 20.2% higher than yesterday and 25.3% stronger since last week. Short positions are 5.8% lower than yesterday and 7.9% weaker since last week. Open interest is 3.5% stronger than yesterday and 7.5% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

Source: FXCM Execution Desk

For information on an FXCM Managed Account that takes advantage of the SSI, please review our Sentiment Program at: http://www.fxcmmanagedfunds.com/ or call +1 646-432-2968.

Seems like there are a lot of traders using this low as a buy opportunity looking for the push to 1.50. The 1.4600 level has supported the cross pretty good today with a doji as the last hourly candle and another one appearing to be forming at the moment. Possibly a return to the uptrend again, any else have other obeservations.

the euro is big harmed with commentaries from ecb, big banks and trading institutions around the world and lately with emirate arabase where they dont be on the euro in short term.
they are recommending not to buy euros but also not buy dollars,
maybe yen, yuans and swissy are their favorites.

personally, the euro technically is looking awfull.
we have a dangerous weekly pattern against euro on the 1.4925s.
i just laugh at my self cause i traded those news and longed from 1.4565 tp
1.4920. exited there and the this pair. went south very fast.

why did i exited? usd bulls made a party right there, euro strenght was really diminishing trying to go for 1.50.

my opinion, we are going to december lows. and then probably a choppy trading to 1.46 then back. target probably in the long term is 1.40.

i dont want to hold euros. economic reports from there are awful and they just have one way to go until ecb eases. *worse*. and i bet this is the sentiment in many players. euro has been pushed too far.

but beware, if fed cut lets say 75bp. i am going with euro or better long ej in the rally.

The problem with this observation is that our SSI data is a very contrarian signal. When the majority (or a large part) of traders begin moving in the same direction, price tends to move in the opposite direction. Indeed, the surge in longs gives me pause to my previously bearish stance. I may opt to leave a sell-stop order for a break below 1.4569.

I was bullish since I went long at 14600 this afternoon. Having read the comments here I don't know what to think anymore. I am not an experienced trader so it was good to read so many opinions that challenge my own assumptions.

A head and shoulders might be forming but I was working on the assumption that many rate cuts are expected in the US this year and that that would keep the Euro strong.

Maybe it is best to wait and see.

I am new to this thread. I would like to know what the commentators think what will happen to the EUR/USD pair once the Fed cuts rates and the EUR/USD suddenly becomes a carry trade?

As a New trader, starting in November I could see the correlations between many movements in the pairs.

Seems that daily bad news is coming out everywhere, in each currency.

Might this be a trend to actually stengthen the dollar in the long run if "Everyone" sees a slower economic growth?

Thus more of a long term thought of the EUR?USa going to Mid 07 levesl of 1.2600?

I know nothing is ever a perfect science just looking for opinions

EURUSD is aggressively testing support at 1.4525/30 right now, and a break below here target 1.4315...however, I think we may see the pair hold above as dollar weakness resumes.

Attached Images

 

going long eurusd 1,4530

we may see little more porgress to the downside - C of 2nd expanded flat should be close to done so looking for upside

Since bad data seems to be coming out from both EUR and USD throughout this coming week, what are your outlooks on EUR/USD.
It seems to me that the pressure has become very high on the pair, and it should bounce today or early tomorrow toward 1,4650 or even 1,47.
It is trading at 1.4497 right now, which is 3 weeks low.

Why on earth was my last message deleted???

shorts trigger on the break below 4575 and now longs waiting at 4472.
fiber on chart.........

Attached Files

Fiber.doc (153.0 KB, 102 views)

__________________
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...