Euro Forex Pro weekly 19-23 July, 2010

[MidnightRun]

Stress Test

sticking with eurusd...i am going short from a 1.28 something. yesterday put in a long from 127.40 and it paid out since US market data was to be announced bad today.tomorrow expect it to go the other way sinc eEuro will suffer a negative economic whiplash.

And one important thing to bear in mind is tomorrow's stress test results which is expected to be no so good for European banks. As for the time of results' release: This is what TD Bank's FX analysis said this morning:
euro zone bank stress test results are due Friday though reports earlier today suggested an earlier release was possible.(

 

[rasto007]

EU bank stress tests

I actually expect good results. Not because tha banks are in good shape, but because the stress criteria are too soft and unrealistic. It is just for show to the investors.

 

[Rubin Hood]

Re: But personally I like USD/CHF right now, because it has clearer signal than EUR.

That sounds quite surprising to me. I absolutely do not understand CNF's behavior over the last few days: it has become totally un-correlated with the USD over the most recent period, and I cannot figure out what it is that is determining its movements...

I think that with the growing concerns over the Euro and Cable, and with the SNB not wanting to intervene anymore, CHF may be able to join the USD and the JPY in their safe haven status more than before. When there's "risk off" and the markets get scared, CHF may gradually become popular. This looks like a fundamental change; maybe the CHF won't go hand in had with the EUR from now on.

I personally lost a bit on the USD/CHF Double Repo failure, and the chart did look like it was ready for a thrust up after a 2-month decline. But if my perspective on CHF has anything to do with reality, it looks like this time the fundamentals weren't in line with the technicals after all.

 

[auna]

i changed my mind today...friday will send the euro higher so i am in a long already.Why? the market will take what it can with the EU euphoria.No one cares of the real state of the Eu economy for now so lets indulge ourselves right.

 

[Vix]

i changed my mind today...friday will send the euro higher so i am in a long already.Why? the market will take what it can with the EU euphoria.No one cares of the real state of the Eu economy for now so lets indulge ourselves right.

it sure looks like it could give it a shot at previous highs

 

[Sive Morten]

EUR/USD Update, Fri 23, July

Good morning, fellows

Today we have not bad opportunity for enter Long. Yesterday I've said that if market will close above 1.2850 we'll get a MACDP failure signal. In general this signal catches those who has opened position on unconfirmed trend changing. On daily chart I mark two examples of this. You can see what had happened after previous one. So, as a result, I expect that at least previous highs will be taken out, but I hope that market will go to XOP=1.3133. Previously disrespected Confluence resistance and Agreement at 1.2760 has held the market yesterday.

Also, as I've said - weekly Pivot point is the key to answer. Today market above it. Those who wasn't in time to enter long yesterday, can do this today. Let, s see, where we are today...

Look at hourly chart - market turns to triangle consolidation, trend turns bearish, but price action is not. So, I think that market will not make a deep retracement. Personally, I like 1.2850-1.2870 area to enter -hourly Confluence support and daily Pivot point. S/L can be placed just below weekly pivot point and 0.618 Fib support. But stricktly to say - lows at 1.2730 should hold. Bulls will be in charge until these lows hold.

That's being said, Personally I like an idea enter long in 1.2850-1.2870 area, s/l under 1.2814. If you risk allows you - place stops below 1.2730 lows. target - previous Daily highs at minimum, but I think that XOP can be meet.

Good luck

And now let's try VIDEO

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[luedama]

thks a lot Sive, no colleration GBPUSD with EURUSD now, Euro's weak now..stop hunting?

 

[12bfree]

XOP

Hi Sive, thank you very much for the almost daily update on your post. Do you see the XOP being achieved today or in the coming days next week? As you know, stress test results coming out today and and the market had been reacting negatively at the slightest negative news.

 

[Sive Morten]

Hi Sive, thank you very much for the almost daily update on your post. Do you see the XOP being achieved today or in the coming days next week? As you know, stress test results coming out today and and the market had been reacting negatively at the slightest negative news.

I really don't know

 

[12bfree]

what a pump!

u da man Sive, u da man!