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honeill (honeill)
Mar 03 2015 at 09:44
1141 posts
During the course of yesterday session, EURUSD initially rallied but enough selling pressure again at 1.1236 to turn things back around and close at the open of the day, creating a doji candle. We continue to trade in the “no man’s land” between 1.1236 downward to 1.1097.
Looks like the pair is waiting for the ECB monetary policy on Thursday and U.S jobs report on Friday.

"I trade to make money not to be right."
Cholipop
Mar 03 2015 at 13:30
406 posts
takechance posted:
If you read all the analysts' reports 9 out 10 of them are bearish on EUR. In fact it seems everybody in the world is bearish. I wonder why the hell those firms are not selling fresh and taking the pair close to 1.00.....LOL. EUR is more or less steady for last 2.5 days which means equal volume of buyers were also present in the market. The question is who are these people?? Are these all short coverings or fresh buy positions??


Everyone may be bearish, but you may have larger orders going long, so it would make sense to move it up in order to give them the impression that it will spike up, then reverse done. The long will come, on high impact news, and when everyone is expecting a even bigger drop.

victoriajensen
Mar 03 2015 at 15:10
1117 posts
I think EUR/USD has formed a double bottom and the doji candlestick in the daily filter chart is only reenforcing this opinion, but nothing is certain before the ECB rate decision and the US Non-Farm Payrolls.

bewayopa
Mar 03 2015 at 18:45
372 posts
EUR / USD recovered yesterday.
Probably, there will be very soon, sellers to challenge the minimum of 26 January, in 1,11.
But there is a positive divergence between the RSI and the price-action, with MACD up the signal line.
The broader trend is undoubtedly down to the players already looking at 1,10, up to September 1, 2003.


CrazyTrader (CrazyTrader)
Mar 03 2015 at 19:43
1718 posts
Cholipop posted:
Everyone may be bearish, but you may have larger orders going long, so it would make sense to move it up in order to give them the impression that it will spike up, then reverse done. The long will come, on high impact news, and when everyone is expecting a even bigger drop.


Perfect exemple of Cristall ball.... nice story!

Abdul2012
Mar 03 2015 at 20:36
413 posts
The EUR/USD still moving in a narrow rang for the 2nd day and no break under 1.1150 . waiting for the US Non-Farm Payrolls this week.

Cholipop
Mar 04 2015 at 07:59
406 posts
Do you believe that waiting for news release is an efficient way to earn money in forex? Floating back in red and green, or sitting in red waiting for news to save you isn't a very good way to have growth even in the short term. Recall that EU started its drop from 1.39xx levels exactly one year ago. Back then everyone was screaming 1.40 and 1.42 even 1.50 and look what that once speech by Mario did. If we simply respect price action can we then make money day in and day out in forex.

CrazyTrader (CrazyTrader)
Mar 04 2015 at 11:09
1718 posts
I feel there is a very strong support in middle of nowhere... and EURUSD will bounce from a double bottom... just kidding : )

Target is near:
https://www.myfxbook.com/forex-charts/EURUSD,D1/3494

honeill (honeill)
Mar 04 2015 at 11:36
1141 posts
During the course of yesterday session, EURUSD went back and forth, creating another doji candle. We continue to trade in the “no man’s land” between 1.1236 downward to 1.1097.
I do not expect any movement beyond “no man’s land” range before the ECB monetary policy tomorrow and U.S jobs report on Friday.

"I trade to make money not to be right."
bewayopa
Mar 04 2015 at 18:04
372 posts
EUR / USD traded slightly lower yesterday, to trade close to 1.1170.
The short-term outlook is negative despite the positive divergence between the RSI and the price action.
The long-term trend is also downward.

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