EUR/USD

For those doubters, look at the chart of 2002. See what happened since 2002-02, when the replacement of different national currencies by the Euro was officially concluded. Compare the charts with now! Don't be afraid to imagine big! At the beginning of this year, who could have thought the euro could reach today's level?

Entry: buy limit @ 1.18
Target: 1.25 (6 % return)
Stop: 1.156 (2% risk)
risk reward ratio : 1 to 3.
position size: 2% of total capital (5 times leveraged, i.e. 10% of deposited capital).

If it goes wrong, the loss will be 0.2% of total deposited capital.
If it goes well, there will be plenty of chances to add during the appreciation, then the gain will be more than 6% (0.6% of total account).
So the effective risk reward ratio will be more less than 1:3, probably 1:5.

Safe trading out there!

FXWES posted:
EUR/USD continued the rally and marked fresh new high today at 1.1830. Short term correction is expected as indicators are showing overbought signals.

yes hoping for a retracement

On yesterday session, the EURUSD rallied again but this time with a wide range and closed near the high of the day, in addition the currency pair closed above Friday’s high, which suggests a strong bullish momentum.

The currency pair continues trading above the 10, 50, and 200-day moving averages that should provide dynamic support.

The key levels to watch are: a daily resistance at 1.1976, other daily resistance at 1.1829, a daily support at 1.1753, the 10-day moving average at 1.1700 (support), a daily support at 1.1460 and other daily support at 1.1556.

fyang8 posted:
For those doubters, look at the chart of 2002. See what happened since 2002-02, when the replacement of different national currencies by the Euro was officially concluded. Compare the charts with now! Don't be afraid to imagine big! At the beginning of this year, who could have thought the euro could reach today's level?

Some of us here have been trading Euro Long since January.

EUR/USD is consolidating sideways between 1.1800 and 1.1845. The pair is still very bullish and even if there is a brief retracement to the downside it will likely continue rallying.

As expected, the EURUSD broke above the “mother bar” yesterday as you can see on my daily chart below, topped at 1.1845. The bias remains bullish in nearest term testing 1.1875 before targeting 1.2000 key resistance. Immediate support is seen around 1.1775. A clear break below that area could lead price to neutral zone in nearest term testing 1.1725 support area but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy and only a clear break below 1.1650 would interrupt the bullish outlook.

I would say first floor could be last high on the 27th of last month, stops just below 1.18 so be careful ,longs will start to cover if we go much lower.

After having marked fresh high at 1.838, the EUR/USD lost momentum and is currently trading at 1.1797. Nevertheless it’s early to assume that the pair has started deep correction, as the US dollar remains fragile amid the political jitters.

FXWES posted:
After having marked fresh high at 1.838, the EUR/USD lost momentum and is currently trading at 1.1797. Nevertheless it’s early to assume that the pair has started deep correction, as the US dollar remains fragile amid the political jitters.

Looks like buyers dipping their feet in again although its moving like algos

The rally may just continue on the EURUSD even though it is trying to stall at the 1.1800 level at the moment. Its next resistance could be the 1.1900 level, but a much more important resistance is the 1.2000 level. To the downside, any of the round number levels all the way to the 1.1500 level could act as supports.

The pair is consolidating on the upside, still holding yearly high. Break above the immediate resistance level at 1.1845 would open the door to 1.19.

On yesterday session, the EURUSD fell with a narrow range and closed near the low of the day, however the currency pair closed within Monday’s range, which suggests a being slightly on the bearish side of neutral.

The currency pair continues trading above the 10, 50, and 200-day moving averages that should provide dynamic support.

The key levels to watch are: a daily resistance at 1.1976, other daily resistance at 1.1829, a daily support at 1.1753, the 10-day moving average at 1.1735 (support), a daily support at 1.1460 and other daily support at 1.1556.

EUR/USD formed a new high at 1.1870 and continues moving to the upside. Next target is likely around 1.1900.

There is a ceiling just around 1.1870 on the monthly chart we have to break through first.

New fresh high for the EUR/USD pair was marked today at 1.1911. The upward momentum remains actual, but on Thursday we may calm down ahead of the release of services and composite PMIs in the euro zone and on the other coast we expect the US Nonfarm Payroll report. Well dips are still seen as buying opportunities.

There is only 1 direction NOW: Up!

If you check it here, so many people here are still shorting it. The average is 1.1340. A few days ago, it was 1.12 something. https://www.myfxbook.com/community/outlook
Those guys got wiped out one by one.

The big money says 'buy, buy and buy more.' They buy high and aim to sell higher. They have no fear because this has long been a free trade for them. They started small and build on it little by little to very big positions. The average entry price of the big money should be much lower, so they don't care about some slight pull back. They simply move the stoplosses above their average entry prices. For those shallow pullbacks we have so far, it would not harm their position. If anything, it will only give them chances to buy more.
Those big institutions use fundamental analysis and mathematical modelling. They don't care about those technical lines. Those technical lines are only tools used by retail traders to guess what the big institutions are doing. As long as ECB is expected to taper, the fundamentals won't change. The big guys will simply buy more and the price will break one line after another on your charts.