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A thought on the EUR/USD at 3:48 on 09/24 A thought on the EUR/USD at 3:48 on 09/24
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Old 09-24-2008, 04:54 PM
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Default A thought on the EUR/USD at 3:48 on 09/24
I'm trying to confirm if I'm learning anything.

I look at the EUR/USD from the H1 through M15 and I see solid support around 1.4625 thats been getting tested since yesterday. Currently price is touching there again. If if bounces instead of breaking, would it be reasonable to think there will be another good upswing? If it breaks, is it reasonable to think it might drop quite a bit barring any news items?

Just noticing and trying to learn...
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Old 09-24-2008, 04:59 PM
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It broke that lvl at the time of this posting. But I have a hunch that its going to go back up. Remember today is triple interest day. So maybe its going to pull back from there. Happy Trading, Raven
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Old 09-24-2008, 06:27 PM
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Phhht... I ended up buying it at around 21:00 GMT. Seen direction turn around, I gave it it a few candles to confirm direction was changing, confirmed on a higher time frame, then went in. But like usual, wrong choice. Of course nothing to do with your reply rantinravin, my criteria just happened to match up
Last edited by edacsac; 09-24-2008 at 06:30 PM.
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Old 09-24-2008, 08:30 PM
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Quote:
Remember today is triple interest day. So maybe its going to pull back from there. Happy Trading, Raven
I dont think triple interest day helps the EUR/USD pair at all, as its one of the lowest paying swaps, and is probably not in any carry traders basket.
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Old 09-24-2008, 08:38 PM
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Quote:
I ended up buying it at around 21:00 GMT
Well thats good, you are or should be up around 30 pips at the moment. I'm not sure where this pair is headed just yet, so I am sitting it out.

It looks to be descending, but with all the US gov bailouts and what not, I'm not sure what is going to happen
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