Looks like a classic dog pattern. The dog sticks his tongue out and the price that he ate falls to the ground. Now the question is will the fall be because of the bad Aussie jobs numbers or because the pair finally picked a direction.
Right before the SNB rate decision at 13GMT, EUR has been dragged down at seriously low levels today (Exactly what NZD did yesterday to AUD before its rate decision today) ... I think this is a great buying opportunity
SNB is expected to keep the interest rate unchanged. Hence, tomorrow we can see serious pips in this pair with a very good upward swing (Exactly as how AUD\NZD threw ~150 pips in no time after NZD interest rate decision today and still moving upward)
IMHO eur/usd will go towards 1.3700
becoz all this while it cant break the support of 1.3540
Personally I will short @ 1.3680 with SL @ 1.3730
Tgt profit at 1.3580
what do u guys think
afterall trading is all about opinion and taking up a position
cheers
Yes I think the downside looks good on the 5 min chart. Longer term the 1 hour and 4 hour charts indicate this may be a ggod time to go short. Lots of good positive economic news coming out of the USA, and the Euro region is still struggling to get its house in order. And if the US stock market tops out soon then money might move into US dollars.
I was drawing out earlier today on Dow Jones Chart.. Looks like a possible down move in the coming weeks ahead if that resistance area holds.
So Far 5 Min looks like a break down coming, see if this plays out..
Yes I think the downside looks good on the 5 min chart. Longer term the 1 hour and 4 hour charts indicate this may be a ggod time to go short. Lots of good positive economic news coming out of the USA, and the Euro region is still struggling to get its house in order. And if the US stock market tops out soon then money might move into US dollars.
Look at the chart ... it is not completed yet but I think it will very soon...double top with roughly 200 pips (target 119.80 area)
cheers,
D
Not yet, it just started to climb yesterday, give it time.
we open low and climb high for the past week, so wait till 2pm and see where the market will be.
Well! The Daily FX seems to be lagging Today. Theres been no news on the wire since 8:28. Wake up Guys.
Now for the Bright Side. I had a Short entry order in for 1.3680. Just picked up 33 Pips as it bounced off the bottom.
Bill
Seems to be okay now.
Hey, great to hear you picked up some "good pips". That's awesome! Congrats!
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Originally Posted by Mike618 
s
Whazzup!
