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EUR/USD
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Cryptocurrency

Member Since Feb 22, 2015  177 posts Cuong Truong (Cryptocurrency) Feb 24 2017 at 21:27
It looks like a fake break out after all. The central bank is keeping the price of their USD up.
The price of $EURUSD will most likely retest that resistance line. I don't think it will hold, the price will then continues to drop to retest that support line.
Attachments:

I trade Forex using my Bollinger Trend PRO mt4 indicator.
besttools

Member Since Jun 21, 2016  898 posts bestools (besttools) Feb 24 2017 at 21:48

At the moment the Eur/Usd is up 0.06% at 1.0587 facing the initial hurdle at 1.0618 (high Feb.24) followed by 1.0658 (20-day sma) and finally 1.0682 (high Feb.16). On the flip side, a breach of 1.0492 (low Feb.22) would target 1.0452 (low Jan.11) en route to 1.0339 (2017 low Jan.3).

snapdragon1970

Member Since Sep 12, 2015  1844 posts kieran (snapdragon1970) Feb 25 2017 at 15:45
Cryptocurrency posted:
It looks like a fake break out after all. The central bank is keeping the price of their USD up.
The price of $EURUSD will most likely retest that resistance line. I don't think it will hold, the price will then continues to drop to retest that support line.

I will probably get knocked out, 1% is my max loss, I will take another position at 0500 if we get down that far.

"Mistakes are the portals of discovery",James Joyce.
gustavoz

Member Since Sep 15, 2016  6 posts Gustaz (gustavoz) Feb 25 2017 at 18:00
Cryptocurrency posted:
EUR/USD price just broke out of resistance trend line. I'm expecting price to retest that line within the next few days.


Let's hope the trend is back to that line.

ruskif

Member Since Sep 17, 2016  2 posts Mill (ruskif) Feb 25 2017 at 18:31
snapdragon1970 posted:
We got a push through, next support 5600, I will take a long from here for a quick scalp.


My friend you are quite active in this trade.
Success for this!

snapdragon1970

Member Since Sep 12, 2015  1844 posts kieran (snapdragon1970) Feb 26 2017 at 18:49
ruskif posted:
snapdragon1970 posted:
We got a push through, next support 5600, I will take a long from here for a quick scalp.


My friend you are quite active in this trade.
Success for this!

It is good to trade when there is volatility, success to you too.

"Mistakes are the portals of discovery",James Joyce.
idimitrov

Member Since Apr 09, 2016  421 posts idimitrov Feb 26 2017 at 19:16
The euro was down against the US Dollar on Friday. By the close of US trading EUR/USD was trading at 1.0562, shedding by 0.18%. I believe that the support is now located at the level of 1.0492, Wednesday's low and resistance is likely at the level of 1.0637 - Monday's high.

Cryptocurrency

Member Since Feb 22, 2015  177 posts Cuong Truong (Cryptocurrency) Feb 27 2017 at 00:34
'banks had colluded in forex trading'
https://www.moneyweb.co.za/moneyweb-opinion/time-for-compcom-to-explain-effects-of-forex-scandal/

Well, let's just wait to see if the central banks will push the price of EURO up or down this week.

I trade Forex using my Bollinger Trend PRO mt4 indicator.
csc2009

Member Since Apr 09, 2014  834 posts csc2009 Feb 27 2017 at 02:01
Cryptocurrency posted:
'banks had colluded in forex trading'
https://www.moneyweb.co.za/moneyweb-opinion/time-for-compcom-to-explain-effects-of-forex-scandal/

Well, let's just wait to see if the central banks will push the price of EURO up or down this week.


Political uncertainty continue to pressure the Euro, let's wait for the central banks this week.

stian

Member Since Nov 14, 2015  308 posts stian Feb 27 2017 at 02:24
There is the Netherlands inquiry into leaving the euro as well.

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Consumer Price Index (YoY) (16 min)
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EURUSD 1.17418 GBPUSD 1.30782
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.