FOREX PRO Weekly January 09-13, 2012

[erich]

1.2527

hi Sive,
you discover 1.2527 as 0.786 and next support and last chance for a stronger retracement;
on the uploaded image you can see the 100%-expansion also at the 1.2450 - 1.2500 level;
would you agree to the ABC and the more recent second abc expansion or are these ABC's
not the important one's in your opinion?



thanks again!
Erich

 

[RahmanSL]

I think fundamentals overrule technical at this point in time coz of endless stream of bad news coming out of the EU while the US is busy padding up their economy outlook in preparation for election.

 

[Triantus Shango]

Triantus my friend, you seem pretty sure on all that

Ok, on the next dip, I better remove some chips from the table...was hoping to ride all my short positions right down to the 1.2650 level

LOL i am sure of nothing! for instance, why would the market slice through all the daily pivots like butter, and then slice back down right through the same pivots again? i thought daily pivots should be more solid than that. aren't they usually? makes no sense.

 

[Triantus Shango]

and what about that marubozu on H4? does it count for nothing? what the hell is going on?

 

[RahmanSL]

These are not normal times, and the Merkel-Sarkozy meeting in Berlin doesn't have much in the way of adding confidence to the market.
There will be a lot more top bald headed technical analyst walking around.

Daily/Weekly/Monthly MACD are still giving thumbs down to the Euro.

Wonder where is Sive! Could sure use his expert opinion now.

 

[Triantus Shango]

I think fundamentals overrule technical at this point in time coz of endless stream of bad news coming out of the EU while the US is busy padding up their economy outlook in preparation for election.

rahman

am watching the ichimoku kinko on H1 and the tenkan is crossing the kijun line .. not much because it is still below the cloud... but that's a start i guess.

 

[Triantus Shango]

These are not normal times, and the Merkel-Sarkozy meeting in Berlin doesn't have much in the way of adding confidence to the market.
There will be a lot more top bald headed technical analyst walking around.

Daily/Weekly/Monthly MACD are still giving thumbs down to the Euro.

Wonder where is Sive! Could sure use his expert opinion now.

he's probably down at the pub enjoying a beer after a late lunch. you know bankers

 

[Triantus Shango]

some news...

'EUR/USD sellers are seen in the 1.2790/1.2810 area but trailing stops are clustered around 1.2820/25.'

Source: EUR/USD rebounds as fixing sales abate | ForexLive

 

[rashidin5178]

Guys,

I think H1 B&B Buy just appear around 50% retrace (1.2723). I'm always wrong but this time maybe not. Anybody know the target?
Thanks and Best Regards.

 

[RahmanSL]

alayous posting under "Daily Forex Market Update by FXCC 09/Ja/2012" did write there will be a correction upwards to near resistance 1.2763 leading to further decline. However, he did not say how deep that decline will be.

And earlier on at "Talk Forex", CFTC commitment of Trader;s report says speculators short EUR position hit a record high.

I don't know what to expect anymore my friend..I have closed out some of my profitable short positions and shall check back on the rest tomorrow. Guess I will call it a night as it's just after 10pm on my side.

All the best my friend and don't let the pips bite you