Euro Forex Pro Weekly 12-16 July, 2010

Mandrake

Corporal
Messages
138
Hey Sive,

I think I made a mistake I was looking at a weekly chart not daily chart, too many bars on this one. You don't have to attach the chart. You can just tell me if you see a DRPO if its not too much trouble.

Thanks again.
 

auna

Corporal
Messages
83
Well a week ago i told you i was riding the eurousd from 1.2250 upwards and so far so good..would say excellent.Now i am putting a sell in the 128 and another one in the 1.29.If it gets to 1.30 i will put a position too.My SL is 1.3050. Euro going up is because us deficit numbers a couple of days back were bad so that explains why the Usd is taking a big hit but at the end of this week i expect a continued rise till monday when things should start to retrace down to the 1.21 for the euro.
 

MidnightRun

Sergeant
Messages
186
Invariably spot on!

Well a week ago i told you i was riding the eurousd from 1.2250 upwards and so far so good..would say excellent.Now i am putting a sell in the 128 and another one in the 1.29.If it gets to 1.30 i will put a position too.My SL is 1.3050. Euro going up is because us deficit numbers a couple of days back were bad so that explains why the Usd is taking a big hit but at the end of this week i expect a continued rise till monday when things should start to retrace down to the 1.21 for the euro.
Auna,
I have noticed that your analysis and calls are invariably surprisingly right spot on. Could you share your views more often, not just once in a blue moon :))? Also, could you clarify "at the end of this week i expect a continued rise till Monday" - you expect the current trand to reverse only on Monday?

Thank you
 

aleje7

Recruit
Messages
3
Hi Mandrake,
here is your DJIA chart, but I do not see any DRPO.

The fact that market has passed through this area tells about the strength.
We have an intermediate resistance at 1.2860 (weekly Pivot resistance 2).

The next major level is 1.30-1.31. I've told about this area very often - just look at weekly chart (for those who didn't see it).

Personally, I 'll take a pause to see the development of price action. We can't exclude W&R here. Let's see. But I have a feelings not technical analysis, but feelings that probably this will be a move to 1.30-1.31 Confluence resistance XOP and weekly overbought...
it looks like bears must die now:confused:
if tomorrow EU will show signs of reversing then we might expect retracement next week toward 1.248 before bulls resume the trend targeting 1.39-1.41. just my 2c;)
 

ugolion

Recruit
Messages
3
hello sir, am new to this site, i have lost a lot of money in this forex, but i see this FPA as GOD sent people. In fact you are too much.sir can you give me your phone # or your mail please sir.:)
 

Mandrake

Corporal
Messages
138
Wow ugolion. You sound desperate, I have seen too many like you. You should play with nano or micro lots til you become good at it before throwing a fortune in forex. Just follow this tread and learn. Take it slow and easy.

Good things come to those who can wait.
 

Vix

Private, 1st Class
Messages
53
Well a week ago i told you i was riding the eurousd from 1.2250 upwards and so far so good..would say excellent.Now i am putting a sell in the 128 and another one in the 1.29.If it gets to 1.30 i will put a position too.My SL is 1.3050. Euro going up is because us deficit numbers a couple of days back were bad so that explains why the Usd is taking a big hit but at the end of this week i expect a continued rise till monday when things should start to retrace down to the 1.21 for the euro.
why are you opening positions if you expect retracement or change of trend on monday, wouldnt be wiser to wait monday and then open a positon, or some tecnical confirmation of change of trend
or you are ignoring that and going only with fundamentals
 

Sive Morten

Special Consultant to the FPA
Messages
13,131
EUR/USD Update, Fri 16, July

Good morning, everybody

There was a tough day yesterday, and market demonstrated real strength.
My confluence resistance at 1.2760-1.2780 was absolutely disrespected by the market. Sometimes it happens, but rarely enough. So, what do we have now...

First of all, taking in consideration strength of moving from COP to OP and abscence of any retracement when market has reached an OP, I expect move to XOP=1.3133 and weekly Confluence resistance area in medium term.
At the same time, market has reached and overbought condition yesterday. Today is a Friday and this combination not for any Buy and Hold positions. It's possible for Scap Buy though, but not for holding.
Also want to noting here that very often market returns to disrespected Confluence areas at retracements. So, If retracement will start - 1.2760-1.280 area is a very probable low for it.

From the trading possibilities for today I see a possible B&B Buy on Hourly chart. It's impossible to predict from which area it will start, but if it will start from 1.2870 - then the target will be 1.2930. It's a scalp trade. But 1.2870 is just an example - wait for particular reversal signals on support levels.
 

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