EUR/USD
Miembro desde Apr 08, 2014
posts 1141
Sep 17, 2014 at 08:04
Yesterday the EURUSD tested the 1.2988 key level and bounced off it but closed above the 10 day moving average. The pair looks like is developing a bearish flag pattern but without any confirmation yet.
"I trade to make money not to be right."
Miembro desde Oct 08, 2011
posts 137
Sep 17, 2014 at 12:50
I posted 2 signals with exact entry prices last week, based on a formation on the 4 hr chart. These 2 signals are backed by the 12 hour and 8 hour charts with similar formations. The early entry price I provided is currently 40 pips plus, the second one is currently break even. Target for both signals can be the second reverse-hook on the 12 hour chart, which is near 1.3160
"a little bit of knowledge is a dangerous thing"
Miembro desde Oct 08, 2011
posts 137
Sep 17, 2014 at 12:51
For a major buy-formation on the daily chart, the violation of the low of yesterday's daily price-bar is required, without violating the low of Sep. 9th. If the low of yesterday is violated today, then the high of yesterday is a legitimate buy-entry (daily chart)
"a little bit of knowledge is a dangerous thing"
Sep 17, 2014 at 14:04
The USD has been trading mixed.
Higher against CHF and SEK and lower against GBP and CAD and unchanged versus the JPY, NZD, EUR, AUD and NOK.
The GBP depreciated even after the minutes of the last policy meeting of the Bank of England have revealed that the same two members voted for a 25 basis points interest rate, despite the referendum in Scotland.
The CAD has soared after the Governor of the Bank of Canada, have said, he was cautiously optimistic about the future of exports to economic recovery. Stated that the Central Bank does not attempt to manipulate the value of the Canadian currency.
Higher against CHF and SEK and lower against GBP and CAD and unchanged versus the JPY, NZD, EUR, AUD and NOK.
The GBP depreciated even after the minutes of the last policy meeting of the Bank of England have revealed that the same two members voted for a 25 basis points interest rate, despite the referendum in Scotland.
The CAD has soared after the Governor of the Bank of Canada, have said, he was cautiously optimistic about the future of exports to economic recovery. Stated that the Central Bank does not attempt to manipulate the value of the Canadian currency.
Miembro desde Jul 10, 2014
posts 1117
Sep 17, 2014 at 14:46
EUR/USD is exceedingly calm and the consolidation continues, but that is like the calm before the storm. Personally I will wait for Yellen's speech later today before doing anything.
Miembro desde Jun 08, 2014
posts 454
Sep 17, 2014 at 19:28
Yellen said that they have to raise the rates gradually due to the Head wind and the price dived almost 100 pips
Miembro desde Apr 14, 2014
posts 230
Sep 17, 2014 at 20:53
We still have tomorrow the Scottish independence vote tomorrow, 2nd storm of the week, let's see.
Miembro desde Nov 11, 2012
posts 271
Sep 17, 2014 at 21:54
(editado Sep 17, 2014 at 21:58)
takechance posted:
Today I took a short entry at 1.2920. My target is 1.2775. Maybe in a week or so.
My short trade from the 1.2920 level will most probably see the target of 1.2775 very soon. Next immediate low levels I am forecasting are 1.2832 and then 1.2775.
Cheers and happy trading.
antariks1@
Miembro desde Nov 11, 2012
posts 271
Sep 18, 2014 at 04:11
1.2835 reached. Maybe its time to trail stop? But one more push downside may clearly bring it down to 1.2775.
antariks1@
forex_trader_202879
Miembro desde Aug 07, 2014
posts 406
Sep 18, 2014 at 07:18
takechance posted:takechance posted:
Today I took a short entry at 1.2920. My target is 1.2775. Maybe in a week or so.
My short trade from the 1.2920 level will most probably see the target of 1.2775 very soon. Next immediate low levels I am forecasting are 1.2832 and then 1.2775.
Cheers and happy trading.
Nice prediction. You simply went back as far as you could with the h4 chart and looked for the last time eu accumulated near its current price and that is how you got 1.2832... Under that we have 1.2807 1.27655 and 1.27549
You must admire how EU was able to stay sideways for the time it did Showing higher highs and higher lows and then all of a sudden have the rug pulled out from under her. I would take a stab in the dark and say that if eu doesnt go back to 1.2920 before 1.28078 then EU will for sure have a big time correction in the making.
Right now on all smaller tf eu is clearly showing accumulation, I would say one more long red candle down before any reversal back to 1.2950 If it makes a clean bounce from here I would be shocked.
Miembro desde Nov 11, 2012
posts 271
Sep 18, 2014 at 09:41
Cholipop posted:takechance posted:takechance posted:
Today I took a short entry at 1.2920. My target is 1.2775. Maybe in a week or so.
My short trade from the 1.2920 level will most probably see the target of 1.2775 very soon. Next immediate low levels I am forecasting are 1.2832 and then 1.2775.
Cheers and happy trading.
Nice prediction. You simply went back as far as you could with the h4 chart and looked for the last time eu accumulated near its current price and that is how you got 1.2832... Under that we have 1.2807 1.27655 and 1.27549
You must admire how EU was able to stay sideways for the time it did Showing higher highs and higher lows and then all of a sudden have the rug pulled out from under her. I would take a stab in the dark and say that if eu doesnt go back to 1.2920 before 1.28078 then EU will for sure have a big time correction in the making.
Right now on all smaller tf eu is clearly showing accumulation, I would say one more long red candle down before any reversal back to 1.2950 If it makes a clean bounce from here I would be shocked.
Appreciate your analysis though I never got the idea of accumulation and distribution clearly but heard its powerful in the stock markets.
Maybe we can discuss sometime in private about your understanding on this. Cheers
antariks1@
Miembro desde Apr 08, 2014
posts 1141
Sep 18, 2014 at 09:48
EURUSD fell after initially trying to rally during yesterday session, sending this market just below the 1.29 level. After the Fed monetary policy statement the Euro lost value against the Dollar, but could not break down below the 1.28 key level. A move above the 1.30 level is extraordinarily bullish, just as a move below the 1.28 level would be extraordinarily bearish.
"I trade to make money not to be right."
Miembro desde Nov 11, 2012
posts 271
Sep 18, 2014 at 10:14
I believe technical analysis can never forecast the market direction with utmost confidence because directional forecast is the job of fundamental analysts. Major market moves are always because of fundamental change in the underlyings. But fundamental analysts lack the proper valuations of the assets hence they can never tell you how far the market will go. That is the job of the technical analysts to identify these crucial support and resistance levels by analyzing people psychology.
antariks1@
Miembro desde Sep 17, 2014
posts 1
Sep 18, 2014 at 13:40
honeill posted:
EURUSD fell after initially trying to rally during yesterday session, sending this market just below the 1.29 level. After the Fed monetary policy statement the Euro lost value against the Dollar, but could not break down below the 1.28 key level. A move above the 1.30 level is extraordinarily bullish, just as a move below the 1.28 level would be extraordinarily bearish.
yes, i agree with your view. what the bears need is the break below 1.28. the bulls will be happy when 1.3 is broken.
Miembro desde Jul 10, 2014
posts 1117
Sep 18, 2014 at 13:43
EUR/USD reacted quite strongly to Yellen's speech yesterday- it fell over 100 pips. It's in pullback now but I think it will keep falling at least until it reaches 1.2750 - 1.2700. I wonder whether it can go even lower though.
Miembro desde Jan 28, 2014
posts 41
Sep 18, 2014 at 14:52
what happen scotland england problem
Sep 18, 2014 at 15:15
Dollar traded at lower against almost all G10 peers.
The market is looking forward to the referendum in Scotland.
The market positioning is also very much in favor of a 'no'. This means that the market reaction to a 'no' would be much smaller than the reaction to 'yes', that would probably be dramatic.
The market is looking forward to the referendum in Scotland.
The market positioning is also very much in favor of a 'no'. This means that the market reaction to a 'no' would be much smaller than the reaction to 'yes', that would probably be dramatic.
