European Forex Pro weekly 17-21, May, 2010

EurUsd

There must be some big shot holding the EurUsd...; just see the EurJpy fall that uses to mirror the other and now slides alone. Hey! Sive? who are the guys?
 
I guess we short now but tomorrow is friday so may be there might be another up surge so a long is not a bad issue as well..watch out for the jpy session at 8 est for any indicators...that is my take of course..damn i missed that uprise of 200 pips.I knew it was going up but was only convinced half the way..oh well forex for you
 
Hi Sive,

does it matter use Pivot Classic, Camarilla or Woodie ? What would be your thoughts ? What is your preferred, if there is one ?

Thanks
 
Hello people, shoot I got out of EUR/USD before it shot up as I usually lose trades when I'm asleep.

But my take for today is same as 'auna'. I just switched on my computer and found EUR/GBP and EUR/JPY crosses breaking out and moving upwards, only EUR/AUD is breaking out downwards, but AUD is like the strongest currency to move upwards so a correction on that EUR/AUD seems normal to me.

But friday being a bad day to trade in forex is always good to be cautious.

Good Luck guys.
 
hey guys EUR/USD just broke out upwards. You might wanna wait for it to close above 1.26 but I can't wait I went in already. USD/CAD is gonna hit a support trend line and usually when it does hit a support; every major currency will go down so keep a look out for it.
 
Hi Sive,

does it matter use Pivot Classic, Camarilla or Woodie ? What would be your thoughts ? What is your preferred, if there is one ?

Thanks

Hi, Dori,
Well, I use classical Pivots - Pivot itself (HLC/3), support 1, 2 and resistance 1,2.
 
Fri, 21 May EUR/USD update

Good morning, comrades
Here is today's issue.

Our yesterday context was 100% correct, and market has blasted up. As I've said 1.2613 - target that contains Weekly Pivot. So, that had happened.
Unfortunately, I didn't receive my fill on FOREX, because I've left a sleeping Buy order from 1.2260, but I'm not dissapointed - I was too busy yesterday with US Treasuries futures. ;)
So, what we can expect today. Today I'll be watching for sell oportunity. We've reached weekly Pivot point, daily Fib resistance and daily overbought level. (Look to attachment). The possibility to enter short can appare from current level - if market will move below Pivot and hourly chart will turn bearish. Or it may comes on Monday - If market will continue its upside move to hourly XOP at 1.2780 area. Then signal for short enter can appare somewhere around daily Confluence resistance 1.2730-1.2740. And I think that this is more probable, due to monthly and weekly oversold. The target of possible down move - 0.618 retracement from whole up move. look at charts.
That's being said - I do not want to Buy here. I will look for Sell signals here, just about Pivot and if it will not appear - on Monday around 1.2730-1.2740 area

Sive
 

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Good Day Sive,

Yup I agree on not buying as I was on long just now and got half my trade out just as USD/CAD touched the support trend line and sure enough EUR/USD started moving down fast, as I expected. But I was still on half position which I had hoped will still continue it's up move; if you are watching you will know it went back under and I was stopped out.

I was also stopped out on EUR/JPY and EUR/GBP but only made half of what I would have made if I cashed out at the top.

I hate fridays. It's like the weekends have come too soon. Looking forward to Monday for now.
 
Possible EUR/USD sell signal

Looks like Sell signal has decided not to wait until Monday.
I'll try to sell somewhere around 1.2550-1.2570, target 1.2355.
 
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