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Dec 02 2015 at 15:19
52 posts
Let's kick some ass!
Tomorrow you can watch the the ECB meeting live online on the website of the ECB!
Good luck all

Dec 02 2015 at 16:41
454 posts
EUR/USD is back to yesterday's opening price. I will go short but after the break of yesterday's low price 1.05550.

Dec 02 2015 at 17:44
1117 posts
I don't think it will break below the support at 1.0550 before the ECB press-conference tomorrow.

Dec 02 2015 at 18:38
413 posts
victoriajensen posted:
 I don't think it will break below the support at 1.0550 before the ECB press-conference tomorrow.

I agree with you in this point, thank you.

Dec 03 2015 at 07:39
675 posts
On Monday session the single currency recorded unsicnificant decline after a relatively volatile session. The pair was trading between 1.0635 and 1.0551, and and the end euro lost 20 pips to a closing price of 1.0612. Currently the sentiment is neutral, the pair formed range of 1.0640 - 1.0560.

Hugo ONeill (honeill)
Dec 03 2015 at 09:30
1141 posts
Yesterday the EURUSD initially fell but found enough support to turn around and close near the open of the day although closed within previous day range, suggesting a mildly bullish to a ranging tone.

Yesterday the pair failed to close above the 10-day moving average showing that the currency did not have the strength to continue its bullish momentum.

Today is the Big day with the ECB interest rate decision and monetary policy statement plus on the table is a potential increase or further extend of its dovish monetary policy.

Also today we will have Fed's Yellen testimonials before the Congress or some of its Committees to explain the current economic situation and the policies applied to improve it.

The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0605 (resistance), 1.0622 (Support), and 1.0462 (support).

"I trade to make money not to be right."
Dec 03 2015 at 09:37
708 posts
In my opinion, the next level will be 1,0525.

Dec 03 2015 at 15:04
136 posts
FXtrader2010 posted:
You don't need to watch EURUSD we already know it is going down, the real one to watch is Gold.

I read this statement a couple of days ago.
Today's move to the upside confirms that we actually 'know nothing'!
And that is a fact. Only the market operators know where they will move prices next.
These are the ones that move the markets with billions of $$, and that includes most governments.

Look at the home page of this website.
On the bottom you see a section called 'Community Outlook'
It shows you exactly how WRONG traders are guessing the direction.
But when they open a position, they are convinced that prices will move their way.

Last time where there was a chance to go long on the EURUSD was nearly 8 weeks ago.
This means that all these poor souls are trading without a SL and just hope and pray that prices will turn their way!

So... with today's move, and no idea where prices will be in 5 or 6 weeks, what will all the poor souls do that are currently in a short position without a SL?
They will just sit, wait and pray that prices will turn back in their direction.

Think what you could have done, if you had just traded with a SL and got rid of the bad position.

Most day traders close a good position when they are a few pips plus. Maybe 20 or 30 or even 50.
But when they are in a losing position, they stay in the trade forever / hundreds of pips minus, quite a few of them until they get a margin call.

Why is that?
For one thing, it is greed and fear of loss! They cannot concede and admit to themselves that they were wrong!
Another common problem is, that most day traders look at the wrong chart timeframe.
Statistically, the success rate for traders that trade the 1 hour or faster timeframe is only a mere 1.5%
That means that 98.5% of all traders lose their money and end their trading career within 2 years.

Why do brokers give you a 1 min, 5 min, 15 and 30 min chart?

Because that's where you see the action!
And action means distraction!!
So they can lure you right into their trap.

"a little bit of knowledge is a dangerous thing"
Leng Kai (lengkai)
Dec 03 2015 at 15:59
67 posts
@PERPETUUMMOBILE Well said, but pro day trader doesn't trade news. That's lesson one. Rather missing out the opportunity than bursting the account. After all most our play style, well at least mine is high leverage looking for 20-30pips a day.

Strive to archive more.
Dec 03 2015 at 16:07
1117 posts
deresel posted:
In my opinion, the next level will be 1,0525.

I thought so too, but the fundamentals today pushed EUR/USD up and it reached the resistance at 1.0890. It's possible the pair might reach 1.1000 again depending on the results of the NFP tomorrow.

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