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victoriajensen
Nov 06 2014 at 10:55
1117 posts
The ECB Rate Decision comes out today and tomorrow we'll learn the change in the USD Non-Farm Payrolls. These events always provoke great volatility in the market but they are also an excellent opportunity for big profits. Good luck to everyone who are planning to trade when the news come out.

bewayopa
Nov 06 2014 at 16:07
372 posts
Today the ECB is in the spotlight.
Will take up to assess the real impact of stimulus measures announced in recent months, especially after the first estimate of CPI reveal an increase in the inflation rate.
Was tempted to pass the idea that there is unanimity on the ECB President and his administration.
The main concern of investors based on their ability to achieve the proposed targets.
R3 - 1.26570
R2 - 1.26118
R1 - 1.25471
Daily Pivot - 1.25019
S1 - 1.24372
S2 - 1.23920
S3 - 1.23273

takechance (takechance)
Nov 06 2014 at 20:27
271 posts
takechance posted:
takechance posted:
Pulling back in a negative trend.

First short selling target entry at 1.2560. Next one probably 1.2700 or maybe before that depending upon the daily bars development in this week. The short entry from 1.2560 has the potential to yield about 120 pips with the profit target of 1.2440.


The short trade is nicely ripping some 100 odd pips now. Advice to hold it till 1.2440 reaches.


Nicely grabbed 120 pips and all positions closed.

The market is in bearish mood but perhaps bit oversold. Will wait for a rally towards 1.2630-40 area for freshly shorting this pair.

sherifFares
Nov 06 2014 at 20:29
454 posts
If the non-farm payroll comes our positive the EUR will be completely destroyed. 1.2200 is not far now.

peeterwoolf
Nov 06 2014 at 21:07
230 posts
Draghi speaks, everyone jump back into short position again. Strong NFP release tomorrow will lead this pair for more downside.


Kevinrichard
Nov 06 2014 at 21:46
137 posts
The dollar rose to fresh four-and-a-half year highs against a basket of other major currencies on Thursday as the euro weakened after European Central Bank President Mario Draghi reaffirmed its commitment to unconventional measures.

The US dollar index, which tracks the performance of the greenback against a basket of six major currencies, hit highs of 88.03 and was last up 0.42% to 87.88.

EUR/USD fell to lows of 1.2398, the weakest level since August 2012, from around 1.2525 ahead of the announcement and was last down 0.42% to 1.2430.

The drop in the euro came after Draghi said the ECB would soon start purchases of asset-backed securities. The program will run for two years, and have a “sizeable impact” on the ECB’s balance sheet Draghi said, moving it towards its 2012 levels.

He added that the governing council is unanimously committed to taking further “timely measures”, if needed.

The ECB left rates on hold at record lows at its policy meeting earlier Thursday, as widely expected.

The dollar was almost unchanged against the yen, with USD/JPY at 114.61, holding below the seven year highs of 115.52 struck overnight.

The greenback was boosted after the Labor Department reported that the number of people who filed for unemployment assistance in the U.S. last week fell by 10,000 to 278,000 from the previous week’s revised total of 288,000.

The report came a day after a strong U.S. private sector employment report and boosted the outlook for Friday’s nonfarm payrolls report.

The pound was close to one year lows, with GBP/USD down 0.39% to 1.5910 after the Bank of England left monetary policy on hold earlier.

Elsewhere, USD/CHF added 0.49% to trade at 0.9688.

USD/CAD rose 0.33% to 1.1424, not far from Wednesday’s more than five year highs of 1.1465.

The Australian and New Zealand dollars steadied following steep declines overnight as the rout in global commodity prices weighed.

AUD/USD was almost unchanged at 0.8589, holding above the more than four-year trough of 0.8554 struck overnight. NZD/USD slid 0.13% to 0.7717, not far from a 17-month low of 0.7668.

Tradehunter101 (Tradehunter101)
Nov 06 2014 at 21:46
3 posts
As i trade this pair on daily basis, i can tell ... the pair at critical support level.. i will wait for today's close to confirm long trade tomorrow. Then i will engage lower time frame with my VSA analysis to long the pair tomorrow.
I could comment on the pair every day

csc2009
Nov 06 2014 at 22:08
834 posts
So could I.

''Danske Bank said the euro has further scope to fall versus the dollar, and has forecast Europe's common currency would drop to $1.20 over the next six months.'' With strong NFP , I think we might first see 1.23 be taken out soon enough.

takechance (takechance)
Nov 06 2014 at 23:23
271 posts
If the market consolidated now onwards for a few days or a week, some resistance zones nearby may be created but right now the best confluence zone of my chart is at 1.2630-40 area.

1.2440 could be a weak resistance if the NFP remains neutral for the pair otherwise a favourable NFP can pull it back to my identified confluence zone.

Enjoy trading. :)

honeill (honeill)
Nov 07 2014 at 08:27
1141 posts
EURUSD fell during yesterday session to fresh Year lows at 1.2363. It appears that the market should continue to move lower, aiming for the 1.2050 level which is our longer-term support. Rallies at this point should be selling opportunities as EURO should continue depreciating f against the greenback.

"I trade to make money not to be right."
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