Euro Forex Pro Weekly 16-20 August, 2010
- Thread starter Sive Morten
- Start date
Hi Guys, nice movement during asian market right now. Eur is moving normally again. It is about to hit an upper trendline again. It had broken out of this trendline yesterday but if it doesn't wanna go back in, if you had been looking at EUR yesterday you would know the chaos that went on, it bounced twice from this line. So It is being tested again right now. As I am typing this I see EUR bounced from a red candle to green candle when it was closing in on the line. I hope it breaks it this time when volume is still low.
Sive Morten
Special Consultant to the FPA
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EUR/USD Update Wed 18, August
Good morning,
Although market has shown upper breakout yesterday, that we've talked about, it has not quite reached 1.2930-1.2940 area - OP target and weekly Pivot point and stoped up move right at 0.618 expansion. This is a sign of weakness.
I do not see any meaningful and interesting signals right now for positional trading. EUR is a trading market right now, and there is only one possibility that I'll be watching for today.
This is an hourly chart of EUR. The last strong support area s 1.2780-1.28 - monthly pivot point and 0.618 hourly support. Trend is bearish right now. If we will see some up thrust from this area (like one to the left side from current price action), and trend will turn bullish, probably, we still be able to see reaching of 1.2940. If market will fall through it like knife - I will do nothing.
So my trading plan for today - waiting until 1.28 area and watching for some signs of strength there. If I will see any - then, I will enter in scalp buy. If not - I will do nothing.
Good morning,
Although market has shown upper breakout yesterday, that we've talked about, it has not quite reached 1.2930-1.2940 area - OP target and weekly Pivot point and stoped up move right at 0.618 expansion. This is a sign of weakness.
I do not see any meaningful and interesting signals right now for positional trading. EUR is a trading market right now, and there is only one possibility that I'll be watching for today.
This is an hourly chart of EUR. The last strong support area s 1.2780-1.28 - monthly pivot point and 0.618 hourly support. Trend is bearish right now. If we will see some up thrust from this area (like one to the left side from current price action), and trend will turn bullish, probably, we still be able to see reaching of 1.2940. If market will fall through it like knife - I will do nothing.
So my trading plan for today - waiting until 1.28 area and watching for some signs of strength there. If I will see any - then, I will enter in scalp buy. If not - I will do nothing.
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Wow right now there is a sudden spike upwards in all the major currencies. Don't know what happen. Nothing on news accept UK 8-1 vote on keeping interest rate low.
And sure enough EUR bounce off the line again. I am also bearish even though it didn't break back in wedge. But I still like GBP. Probably not touching EUR for now
And sure enough EUR bounce off the line again. I am also bearish even though it didn't break back in wedge. But I still like GBP. Probably not touching EUR for now
Same here , went long on the GBP at 1.5560 . I'm expecting this trend till NY session . Is there a place were I can find the same professional and perfect analysis on GBP ?
Sive Morten
Special Consultant to the FPA
- Messages
- 18,669
Hi, Erdinc,
Me and FPA discuss the possibility of prepearing the same kind of researches on GBP and JPY. May be it will start in September, but I can't say precisely right now.
Thank you very much , I 'm looking forward to it with great anticipation.
Thanks to you I'm not jumping inn and out of trades like a chicken without a head !
Good Day My Friends,
Right now Eur seems to have finally penetrated below the trendline; back into the wedge. Am not trading yet due to low volume. Yesterday's daily closing was a dark cloud over. So the bearish sentiment is being put into action yesterday even though there was a rally up during EUR session.
Right now it's chilling out around the trendline. I think this is good place to wait for direction when volume increases. However, yesterday's US stock market closed undecided again. I always hate it when this happens as currency seems to move undecided as well for most part of the following day.
Right now Eur seems to have finally penetrated below the trendline; back into the wedge. Am not trading yet due to low volume. Yesterday's daily closing was a dark cloud over. So the bearish sentiment is being put into action yesterday even though there was a rally up during EUR session.
Right now it's chilling out around the trendline. I think this is good place to wait for direction when volume increases. However, yesterday's US stock market closed undecided again. I always hate it when this happens as currency seems to move undecided as well for most part of the following day.
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