EUR/USD

let's see we are still waiting for the referendum decision the trend still undecided it's like the calm before the storm

takechance posted:
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.

 Well said. Forcasting is pretty much useless, as it isn't reliable. GBP has had bad news today, and it keeps going up! If we simply focused on supply and demand it would be much profitable in the short-term. As much as people all agree that the trend is down on eu. Look at how many times it has spiked up the last 16 hours. People keep shorting, and they will keep longing it.

As of this moment based on the scalping system which I use. EU is a scalp buy. EU would be a big time scalp sell once the price closes under 1.2912 but based on the lack of the price action it appears we won't get that close. By the way the scalp sell on EU would be once the price closes under 1.2912 on the 5m... At the current moment I am managing over 51k usd spread of 3 accounts. Please have a look at them to gain an idea on the system which is used.

sherifFares posted:
let's see we are still waiting for the referendum decision the trend still undecided it's like the calm before the storm

 The trend is still down. How can you can tell by not looking at the higher tf? Well have a look at the spikes up we have seen over the last 4 trading days for eu. Don't you notice how quickly the spiked candle is engulfed, and how the bear candles (spikes) tend to be much longer and fuller then the bulls. Although I scalp, if I am in a long position for a big lot sizes, if I see I quickly gain 10-15 pips on EU I quickly trail the currency as tight as I can. As if we were in a BULL trend or even coming out of the bear, the bull runs would be much longer.
 
 Yesterday, as you can see from my account labled ACTIVETAKEOVERII I wagered on the long of EU almost near the bottom, and it turned out I actually caught the bottom. EU then moved up nicely during asia, and even better during London. That move during asia caught everyone completly off guard, and most didn't even place fresh trades during asia, as most people were selling eu during london and us session, as you can see EU is trading near its high, and if it accumulates here, you can bet your bottom dollar it will spike up one more time, more then likely to that 1.2950 level.

Short term outlook is slightly bullish to me. I have placed a buy order if the pair pulls back to 1.2880 with a stop at 1.2825, which will be well below the recent low. My target is 1.2965. A riskier trade with lower lots would be buying at previous day's high of 1.2930 keeping the SL and TP at same levels.

The EURUSD is trying to go back up, but it may find it hard if the Dollar keeps rallying

EURUSD broke higher during the course of yesterday session, bouncing off from 1.2835 the lows from the Wednesday session. This market is in a consolidation area and therefore somewhere closer to the 1.30 level we will find enough resistance to turn things back around and start selling. If this area starts to show real selling pressure, do not hesitate to take a short-term position to the downside. On the other hand, if the pair gets above the 1.30 level, we should see this market heading to the 1.32 level given enough time.

EUR / USD moved higher on Thursday after finding support again near the barrier of 1.2680 (S1).
The rate remains within the range between the barrier and the psychological resistance of 1.3000 (R1).
At the short term trend is neutral but the overall picture remains negative.
The pricing structure remains in lower maximum and minimum moving averages below the 50 and 200 days.
Is expected a decisive fall below the 1.2860 line (S1) in the near future to make way for the main support zone of 1.2760 (S2).

Yesterday I was quite convinced that once the pullback was over EUR/USD would begin descending again, and indeed, it reached 1.2930, formed a doji candlestick in the 4 hour filter chart and started falling. Next target is, I think, 1.2700. That said, I think we should watch it carefully in case it forms a double bottom here.

bewayopa posted:
EUR / USD moved higher on Thursday after finding support again near the barrier of 1.2680 (S1).
The rate remains within the range between the barrier and the psychological resistance of 1.3000 (R1).
At the short term trend is neutral but the overall picture remains negative.
The pricing structure remains in lower maximum and minimum moving averages below the 50 and 200 days.
Is expected a decisive fall below the 1.2860 line (S1) in the near future to make way for the main support zone of 1.2760 (S2).

Great analysis , thank you.

Yeah I can expect to see 1.2750 next week

I agree, we might see further downward movement next week.

Looks like the euro would be slipping down against dollar again, let's see what happen next week.

The way it closed one would assume so. The question now is if they kill the bears with a nice spike upwards, then trap the bulls at the top.

We have Draghi's speech tomorrow, there might be a good chance eur/usd going straight down from the start.

Eventhough the Dollar could keep going higher, we must be attentive to a possible correction.

a weak correction in the beginning of the week with almost no volatility, lets see what will happen when the american market open

EURUSD fell during the course of the day on Friday session, testing the 1.28 level yet again. However, the 1.28 level is holding and did not break down below and as a result this pair should continue to go sideways.

alexforex007 posted:
Eventhough the Dollar could keep going higher, we must be attentive to a possible correction.

 Whoa excellent advise *rolling eyes*