Euro Forex Pro weekly 14-18 June, 2010
- Thread starter Sive Morten
- Start date
Yeah I have been quite stagnant for a long while. I only made 1 good profit from GBP/USD upwards movement on Monday. But thats the end of it. Make some pips here lose some there.. It sucks.
Up and down so crazily due to many erractic buying and selling, it is a lose money market for everyone if you keep doing intraday. I think best is not to trade. I wonder how long will it last. Maybe when DJIA break upwards again everything will go back to normal.
Up and down so crazily due to many erractic buying and selling, it is a lose money market for everyone if you keep doing intraday. I think best is not to trade. I wonder how long will it last. Maybe when DJIA break upwards again everything will go back to normal.
Choppy
I agree friend Mandrake; better wait for a decision on the S&P that don`t know where to go...
I agree friend Mandrake; better wait for a decision on the S&P that don`t know where to go...
IF it did , ther ewould be no Forex right! That is Forex for you. Some hate to call it gambling but it is.
About Eur USD, my Buzz is that we are getting a short and sweet ride, gradual, no doubt to the 1.27 -1.28 region. I have a long since 1.22 so i will wait to see if this pans out.
Sive Morten
Special Consultant to the FPA
- Messages
- 18,630
EUR/USD Update, Thu 17, June
Good morning everybody,
Market has shown small retracement yesterday, due to solid daily confluence resistance and daily overbought condition. But I've expected that this downmove should be more powerfull. It has not happened. For now I do not see any clear signal at any time frame. Market can bounce to downside or can just coiling around 1.2270-1.2350 area and then continue move up.
So, the major levels for today - daily resistance 1.2350-1.2380
4-hour support at 1.2243-1.2247 and my preferable support 1.2171-1.2178 (look attachement).
It is possible that we will see H&S at hourly chart if market will touch 1.2170 area, but for now nothing is clear. Probably I'll be flat until some signs will appare, or will try to sell near daily resistance if market will go there. This lets me place tight stop and hold my risk reasonable.
Good morning everybody,
Market has shown small retracement yesterday, due to solid daily confluence resistance and daily overbought condition. But I've expected that this downmove should be more powerfull. It has not happened. For now I do not see any clear signal at any time frame. Market can bounce to downside or can just coiling around 1.2270-1.2350 area and then continue move up.
So, the major levels for today - daily resistance 1.2350-1.2380
4-hour support at 1.2243-1.2247 and my preferable support 1.2171-1.2178 (look attachement).
It is possible that we will see H&S at hourly chart if market will touch 1.2170 area, but for now nothing is clear. Probably I'll be flat until some signs will appare, or will try to sell near daily resistance if market will go there. This lets me place tight stop and hold my risk reasonable.
Attachments
Sive Morten
Special Consultant to the FPA
- Messages
- 18,630
EUR/USD Update, Fri 18, June
Good morning,
Not much changed during the last day, EUR creeps a bit higher and I suspect that It strives to 1.26 area. For now looks like that pair has disrespected 1.2350-1.2378 confluence resistance. Although market is not extremely overbought this level is near and for today it 1.2479 area.
So, my general expectations as follows - I think that some retracement should
be from 1.2600 area - this is a monthly Pivot and Fib confluence resistance.
On this retracement i will enter long with 1.31 target - weekly confluence resistance, monthly Pivot resistance 1 and weekly oversold.
For now EUR/USD is a trading market. I do not want to Buy and Hold right now, so probably some short-term intraday trades are preferable.
I do not attach any charts, because weekly one is in the begining of this thread. And short-term charts contain nothing important right now.
Good morning,
Not much changed during the last day, EUR creeps a bit higher and I suspect that It strives to 1.26 area. For now looks like that pair has disrespected 1.2350-1.2378 confluence resistance. Although market is not extremely overbought this level is near and for today it 1.2479 area.
So, my general expectations as follows - I think that some retracement should
be from 1.2600 area - this is a monthly Pivot and Fib confluence resistance.
On this retracement i will enter long with 1.31 target - weekly confluence resistance, monthly Pivot resistance 1 and weekly oversold.
For now EUR/USD is a trading market. I do not want to Buy and Hold right now, so probably some short-term intraday trades are preferable.
I do not attach any charts, because weekly one is in the begining of this thread. And short-term charts contain nothing important right now.
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