Hey guys!
I think if EUR/USD reach or go above 1.257 and then bounces back, then it will become a resistance level (as it broke the support,may test it, and pullback could confirm it), please check out my attached picture and tell me what do you think. (I trade for 2 weeks lol)
I tend to agree with you, but from a fundamental view as well the Euro is oversold so it is ready for a bounce to the higher.
Thanks for your reply. It seems events that could influence EUR are done. So I think if it bounces back from 1.256 then that will be a good entry for a short position. (who read this, please note i’m newbie, trading for 2 weeks so do NOT trade on my advice!)
Ok it seems I was cool. +59 pips =D
It seems that everyone is saying to long the euro, at least short to mid term. John Taylor (huge name in forex,
and CEO of FX Concepts) was on Bloomberg last week saying his long term outlook on the euro is still bearish
but short term the euro governments will start to do everything they can to save the euro. Check out the
recent story of the big four euro leaders getting together. I’m short the euro right now and am probably going to get out of my position, but I always like to take a look at conflicting evidence of my trade decision and
see if it is strong enough to change my stance.
Along with that possible support and resistance level you pointed out, I would pay attention to the
big decline on Thursday along with the channel that broke. If these two bearish
signals change (retract Thursday loss and continue upward) I’d be looking to possibly get in on a
EUR long, but in my opinion EUR longs are always going to be risky, it seems like bearish Euro news
is always hidden around the corner.
Hi All, Am a newbie, kind of too. Enjoyed watching the ECB 7 yesterday and finding out early this am that Draghma still has some room to play with the <.25 rates on the banks for the Euro. That disclosure yesterday, and the comraderie shown between Barrack and David (cozy pair), with today’s allied leaders going to Normandy, which President Putin was planning to attend as well, came across very well. The Obama round table discussion, easy speak, forum style, include anyone discussion, seemed to make everyone feel included. Did wonders for the EUR/DOL and some of the other pairs until they came too slow between changes to play. You may be right about long term plays, but, I would consider them on everyone at this point for currency trades. Get while the gettin’s good, is what I am hearing from this end and it has been for over the past 10 years or so, and things could change as early as one bump this summer, another in the fall and another next spring or into 2015. Get your assets protected and follow the information on Bitcoins to find out what type of Digital Money and what bitcoins will be worth. FYI, as I don’t know either. But protect your assets, where you have them to make sure they are liquid. All of the Big Boys with the assets have ways have knowledge you wouldn’t believe, outside of any automated picking systems. Very interesting week in the news as well as online. Have a great weekend and trading week.
Eurusd hits new daily lows, it’s testing the 1.3583 support.
The EURUSD is below the 1.36 handle again :59:, but no clear direction. Choppy action all around :15:!
Bearish trend and we may expect the potential targets for the bears will be 1.35375 and 1.35025.
I’m preatty sure the first important support level would be 1.3475. After the price test that we should expect a retracement up to 1.3524. The RSI is next to the “oversold area” and volumes exchanged are decreasing…
Target between 1.3470-1.3450 range would make me happy.:51:
Ready for the break down? I’m waiting for a test at 1.3475, RSI is close to the oversold area, volumes on daily chart are decreasing, and I’m expecting a bounce up after the minimum on the support…
Stay tuned!
The euro continue stay under pressure, eurusd is currently trading below 3 important SMAs(200,100 and 50) on H4 chart, we might see this pair testing 1.3500 level again today.
An important level to watch on EURUSD is the 1.35 handle! If price breaks it to the down side we could see it going as far as 1.3476 or even 1.34 handle.
its important to be careful now with the pair rebound is about to happen either on 1.3520 or 1.3500 testing support line more than once without breaking it gives me some confidence with the rebound
EURUSD is stuck in a 100 pip range between 1.35 and 1.36, so the recommendation is to short @ 1.36 and buy @ 1.35.
yeah just hope price will move from this support line up or down because its stuck for so long at 1.3520
Quite same scenario like 1.36 level. It will probably stuck here for a while.
It starts bounce up from 1.35 level.
price now is stable over the resistance line @1.3555 i think this might push it little bit further to 1.36
