Thread: GBP and JPY Pairs H1 2013

The 1.23 test failed again. More coming so establishing new long positions as it goes down.

Originally Posted by Mary R

Forex traders need to look at everything - economic fundamentals, technicals, and general market sentiment. at some point in the next six months or so I think the EUR/USD will be a great buy and hold opportunity to make 1000 pips or more just as it was a great sell opportunity at 1.50 based on the economic and interest rate differentials. I just don't think we're there quite yet. yes, the weaker euro is helping them with exports but I am not sure it is enough to offset the slowdown and austerity packages.

I see Forex as a contest between two countries. When we say eur/usd we are saying US economy going forward is gonna be stellar while eur is gonna be stinky...Then what of other countries? Maybe Better than Hungary or Czech...this is the way investors make long term calls on currency pairs. For Example..I am long GBP/YEN since 13000 and will hold till I see 15000.

Originally Posted by nopainnogain

when is this china guy suppose to shake the markets with his worde of wisdom

It broke news a few hours ago but I believe most traders are not yet active.

In any case it has rebounded significantly since the lows of the session already...

The EUR/USD is still holding above the 1.21671 low which we identified as a potential sell entry level if the market were to break down through that support. That scenario still holds true this morning as the daily chart still shows a strong downtrend which means that we should continue to look for sells. In this downtrend, which started off of the highs in December of 2009, the corrective moves up against the trend have measured between 300 and 600 pips. This move up off of this low has measured 475 pips or so, which means that if the downtrend is still intact, this market is close to ready for a reversal back to the downside. I think the best play is to wait for some sort of confirmation of that move down, which is why a sell on a break down through the 1.21671 level would be my plan of action.

Thomas, with all due respect, that would be a plan of NO ACTION because we are not going to come even remotely close to those levels you are mentioning.

Just to satisfy my curiosity, what do you do if, for example, those levels are not reached not just today, but in a couple of weeks or a couple of months, you don't trade?

Picked up a couple under 900... for the retest of 1.23000 coming up.

hey guys could someone supply me a chart with the trendlines on it. I have 3 possible trendlines and would like to eliminate one of them. Thanks in advance.

Originally Posted by Thomas Long

The EUR/USD is still holding above the 1.21671 low which we identified as a potential sell entry level if the market were to break down through that support. That scenario still holds true this morning as the daily chart still shows a strong downtrend which means that we should continue to look for sells. In this downtrend, which started off of the highs in December of 2009, the corrective moves up against the trend have measured between 300 and 600 pips. This move up off of this low has measured 475 pips or so, which means that if the downtrend is still intact, this market is close to ready for a reversal back to the downside. I think the best play is to wait for some sort of confirmation of that move down, which is why a sell on a break down through the 1.21671 level would be my plan of action.

As for that chart, I am no expert but it is evident that at least short term it shows a very clear and strong path north...

I might hold before i consider a short as you put it Mr Long I fit holds i will keep the long side till atleast 1.2674

Originally Posted by Thomas Long

The EUR/USD is still holding above the 1.21671 low which we identified as a potential sell entry level if the market were to break down through that support. That scenario still holds true this morning as the daily chart still shows a strong downtrend which means that we should continue to look for sells. In this downtrend, which started off of the highs in December of 2009, the corrective moves up against the trend have measured between 300 and 600 pips. This move up off of this low has measured 475 pips or so, which means that if the downtrend is still intact, this market is close to ready for a reversal back to the downside. I think the best play is to wait for some sort of confirmation of that move down, which is why a sell on a break down through the 1.21671 level would be my plan of action.

Originally Posted by MoneyInc.

hey guys could someone supply me a chart with the trendlines on it. I have 3 possible trendlines and would like to eliminate one of them. Thanks in advance.

Good morning Money, here is the tl channel im watching atm...

EUR/USD has pulled back to its neck line on the inverse head & shoulders pattern. Now let's see if it holds.

By the way, Jim Rogers is buying the euro now: http://preview.bloomberg.com/news/20...-currency.html

Testing as we speak, as expected. Again.

... just above the 1.23000 level. Failing to stay above again and again.

closed all longs. Very nice profit.

I posted on a 4h Chart yesterday i think you might have to keep all 3 though as they seem to break stage by stage if there is a change in direction.

Originally Posted by MoneyInc.

hey guys could someone supply me a chart with the trendlines on it. I have 3 possible trendlines and would like to eliminate one of them. Thanks in advance.