The Purely Technical EUR/USD Trading Thread

[CodyB]

I will consider this complete now at 2934 no hindsight, no fundis, jut pure tech analysis.....Charts were shared previously....1.7 pips off............gap will close now

will re look Sunday market preopen

gap is now closed...

trade smart

[CodyB]

all targets achieved..correction expected now...how deep TBD

These last moves in EU GU AU and EJ have been sweet with 2 trades each max risk of 3%, it will give me an early Christmas vacation this year

[DayTraderDad]

all targets achieved

Great analysis. Thank you so much for your efforts. I've learnt a lot. Next week will be another adventure.

[CodyB]

Hi Guys
I am analysing the EURUSD pair and despite todays spike after FED I'd come to conlussion that the pair is painting the 5 wave structure from 1.2044 with max range for W5 being 1.3. In fact today the market didn't have power to go beyond this level despite QE3 annoucement. I'd would consider this level as W5 within corrective wave of recent decline being a big corrective WA. So now it is a time to start thinking of decline within WB. I await the good signal on daily OHLC and then consider short. What is your opinion


Andrzej

you would be better off asking about EW here

http://forexforums.dailyfx.com/ellio...sion-3111.html (Elliott Wave Trading Discussion)

[CodyB]

Barriers 1.3100, bids 1.30, 1.2980 and 1.2950
Stops 1.2960 and 1.2940
Expiries incl. 1.2900, 1.3000 and 1.3050 strikes, NY cut
Weekly resistance/support line 1.2840

[CodyB]

Short term support is at SPX 1422/27 and SPX 1413/16, with resistance at the 1440 pivot and SPX 1463/64. Short term momentum ended the week quite overbought. The short term charts remain positive since the thursday open at SPX 1412, with the swing point now at 1417. target remains 1499+

1474 is close enough for me this week to 1499 target. Flat across the board back sunday

[CodyB]

So far in 2012 there have been 25 times when - as is now the case - S&Ps have started a run of breaking the previous day's high for 2 days in a row: Of the 25, only 2 fell back to close the next day more than 3.75 points below the open

S&Ps closed Thursday 17.75 points (1.2%) higher at 1457.25

The market has rallied for 5 of the last 6 days, adding a total of 53.75 points (3.8%)

S&Ps finished Thursday at the highest closing level seen since Thursday 3rd January 2008
Resistance is expected on Friday at 1464/66 and 1468/69, and then up at 1478/79: Below 1452 and 1446, look for support at 1440/41 and 1433

[CodyB]

and the daily chart showing the way to the 161

[CodyB]

The Asian markets were mostly higher, the SSEC was -0.2%, and gained 2.8%. Only China and Singapore have not confirmed uptrends.

The European markets were all higher gaining 2.3%. All uptrends in this group.

The Commodity equity group gained 5.4%. All uptrends and all higher on the week.

The DJ World index remains in an uptrend gaining 3.0% for the week.



Bonds had one of its worse weeks since early June -1.5%. Prices remain in a downtrend and 10yr yields reached 1.89% on friday.

Crude continues to uptrend, hitting $100.42 on friday, gaining 1.0% on the week.

Gold continues to uptrend as well. It gained 2.1% on the week after hitting a high of $1780.

The USD downtrend continues as the USD lost 1.8% on the week. The uptrending EURUSD soared 2.5%, while the JPYUSD slipped 0.2%.

[CodyB]

EUR/USD ended Friday at 1.3140, up 2.30 cents (1.8%) on the day, and showing a net weekly gain of 3.45 cents (2.7%)

Friday's rally was the 28th biggest daily gain in the history of the Euro, and the biggest rally since the 2.0% gain of 3rd August 2012

EUR/USD finished Friday at the highest closing level seen since Thursday 3rd May 2012, 19 weeks earlier

Resistance is expected on Monday at 1.3160/75 and up at 1.3255/75: Below 1.3080, look for support at 1.3040/55 and 1.3010/15

[CodyB]

EURUSD Support 1.3080 1.3000/20 1.2940 Resistance 1.3180 1.3280 1.3390
Nothing really has changed since last week to trump what has been a mammoth turnaround in sentiment. We have in effect both ECB and Fed promising unlimited action with no goal target in mind, this is a game changer. I still believe the slower moving money around the world is light EUR and European assets and that EUR and EUR crosses are a buy on dips. EURCHF also continues to embolden my long EUR view as the move higher removes the natural supply in the single currency that has been blamed for capping many a recovery rally in the past few months.

[CodyB]

EUR/USD made a new 95 session high at 1.3175 on Monday, before falling back to end the session with a small loss: It is 27 sessions (Thursday 9th August 2012) since EUR/USD last posted a net daily loss of more than 45 pips

EUR/USD closed Monday 15 pips lower at 1.3125
It was the first net daily fall recorded in 9 sessions: EUR/USD had rallied a total of 5.75 cents (4.6%) over the previous 8 days

EUR/USD has posted the week's low before the end of Monday's session only once in the last 14 weeks

Resistance is expected on Tuesday at 1.3190/1.3210 and 1.3240/55: Below 1.3080, look for support at 1.3055/60 and 1.3025/30

[CodyB]

EURO-DOLLAR: Fundamental levels (orders, options, technicals)
$1.3170/75 Strong offers/$1.31729 NY high Monday/$1.3175 Barrier
$1.3150 Option expiry
$1.3130-35 Option expiries/$1.3120-30 medium offers
$1.3122 Recovery high off NY low at $1.3083 (at NY close)
$1.3120 Int.Day high Asia
$1.3100 Option expiry
$1.3065 ***Current mkt rate 1044GMT Tuesday
$1.3047 Int.Day low Europe, Asia $1.3090
$1.3020/00 Strong demand/$1.3000 Option expiry/Stops
$1.2980 Friday Sep14 low (Asia)/Strong demand
$1.2950 Medium demand/Option expiry
$1.2935/30 Strong demand
$1.2900 Medium demand on approach
$1.2855/50 Strong demand/Pullback low seen into FOMC
$1.2829 Tech 200-dma

[CodyB]

EURO-DOLLAR: Fundamental levels (orders, options, technicals)
$1.3170/75 Strong offers/$1.31729 NY high Monday/$1.3175 Barrier
$1.3150 Option expiry
$1.3130-35 Option expiries/$1.3120-30 medium offers
$1.3122 Recovery high off NY low at $1.3083 (at NY close)
$1.3120 Int.Day high Asia
$1.3100 Option expiry
$1.3065 ***Current mkt rate 1044GMT Tuesday
$1.3047 Int.Day low Europe, Asia $1.3090
$1.3020/00 Strong demand/$1.3000 Option expiry/Stops
$1.2980 Friday Sep14 low (Asia)/Strong demand
$1.2950 Medium demand/Option expiry
$1.2935/30 Strong demand
$1.2900 Medium demand on approach
$1.2855/50 Strong demand/Pullback low seen into FOMC
$1.2829 Tech 200-dma

$index says we are headed higher after this correction....you do not stand in front of Central Bankers when their desires have been voiced Charts to follow tomorrow

Fund bias is improving but not bullish at this time. Strong support now falls at the 128 level. Look for support to build

[mrsforex]

i think it's time to buy with T/p on 1,3130.
pair couldn't go down until 1,3000, so it means that bulls come back