EUR/USD
Dec 01, 2015 at 13:51
The EURUSD didn’t make significant movement yesterday. The bias remains neutral in nearest term probably with a little bullish bias testing 1.0650 area and the trend line resistance which is a good place to sell with a tight stop loss above the trend line resistance targeting 1.0500 area. Immediate support is seen around 1.0550. A clear break below that area could trigger further bearish pressure testing 1.0500. On the upside, a clear break and daily close above the trend line resistance would interrupt the bearish scenario testing 1.0800 key resistance area.
Top Forex Robot
Mitglied seit Jul 10, 2014
1117 Posts
Dec 01, 2015 at 17:22
EUR/USD bounced off the support at 1.0560 and moved to the upside. I think it will climb towards the resistance at 1.0690 - 1.0700 at most before it falls again.
Mitglied seit Jun 08, 2014
454 Posts
Dec 01, 2015 at 20:38
Again EUR/USD over 1.600 and now we will wait for the NFP on friday I doubt there will be much of sudden movemennt before that.
Mitglied seit Nov 12, 2010
174 Posts
Dec 01, 2015 at 20:42
sherifFares posted:
Again EUR/USD over 1.600 and now we will wait for the NFP on friday I doubt there will be much of sudden movemennt before that.
You forget about news to come overnight from Europe tomorrow. I believe we shall see a massive dive overnight. Just wait.
See my profile or message me for my latest EA
Dec 02, 2015 at 08:08
On Tuesday session the euro interrupted a four-day negative series and added nearly 70 pips against the dollar to a closing price of 1.0631. The trading passed within the extreme values 1.0636 and 1.0562. Relative strength index moved to positive territory, but the recent downward trend is still in force. Consecutive break of 1.0650 and the psychological level at 1.0690 will contribute to positive attitudes. The upcoming inflation data in the euro area and Yellen's comments will prove to be a key indicator for the pair.
Mitglied seit Apr 08, 2014
1141 Posts
Dec 02, 2015 at 09:03
Yesterday the EURUSD rallied with a wide range and closed in the green near the high of the day, suggesting a stronger pullback to a Fibonacci extension at 1.07032.
Yesterday the pair closed above the 10-day moving average that was pushing the currency down acting as a strong resistance. The question is: if the pair can follow thru with the bullish momentum or go back down below the 10-day moving average.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0615 (support), 1.0622 (Support), and 1.0462 (support).
Yesterday the pair closed above the 10-day moving average that was pushing the currency down acting as a strong resistance. The question is: if the pair can follow thru with the bullish momentum or go back down below the 10-day moving average.
The key levels to watch are the 1.0819 (resistance), a Fibonacci extension at 1.0703 (resistance), the 10-day moving average at 1.0615 (support), 1.0622 (Support), and 1.0462 (support).
"I trade to make money not to be right."
Mitglied seit Nov 12, 2010
174 Posts
Dec 02, 2015 at 11:59
bestdarngood posted:sherifFares posted:
Again EUR/USD over 1.600 and now we will wait for the NFP on friday I doubt there will be much of sudden movemennt before that.
You forget about news to come overnight from Europe tomorrow. I believe we shall see a massive dive overnight. Just wait.
Would you look at that, a dive
See my profile or message me for my latest EA
forex_trader_278441
Mitglied seit Oct 04, 2015
52 Posts
Dec 02, 2015 at 15:19
Let's kick some ass!
Tomorrow you can watch the the ECB meeting live online on the website of the ECB!
Good luck all
Tomorrow you can watch the the ECB meeting live online on the website of the ECB!
Good luck all
Mitglied seit Jun 08, 2014
454 Posts
Dec 02, 2015 at 16:41
EUR/USD is back to yesterday's opening price. I will go short but after the break of yesterday's low price 1.05550.
Mitglied seit Jul 10, 2014
1117 Posts
Dec 02, 2015 at 17:44
I don't think it will break below the support at 1.0550 before the ECB press-conference tomorrow.
Dec 03, 2015 at 07:39
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.
Mitglied seit Apr 08, 2014
1141 Posts
Dec 03, 2015 at 09:30
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).
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."
Mitglied seit Oct 08, 2011
137 Posts
Dec 03, 2015 at 15:04
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"
