There’s no way for me to adopt a long position on EURUSD. I was taking a look on the chart and it’s so volatile. I rather to stick to H4 and try to follow the price.
As mentioned in a prior post, volumes/liquidity are dire around the week leading into Xmas & up until the end of 1st week of Jan.
The large tier 1 players (major bank desks, institutional shops etc) are virtually non-existent out there. They�ve worked their orders & concluded the majority of their re-allocation/balancing business into the pre-holiday traffic & what�s left out there are tail end bargain hunters & knuckle heads who should be tucked up in bed rather than trudging thru all this slop.
The price action on Euro since 23 Dec (my last chart profile) is merely contracting & slopping around between the previous swing high up at 1.4720 & the pullback higher-low step at 1.3825.
There�s nothing to do here but wait until the volumes begin returning to the arena. The emphasis remains to the upside until that lower swing step at 1.3825 gives ground.
Here�s the revised 4 hour view since the last chart on the 23rd highlighting the anticipated move up & resulting consolidation.
A clearer view of the insipid price activity can be seen via the smaller hourly print focusing the contracting behavior & tightening coil above the lower supports.
Where does it head from here?? Who knows & who cares. You got clear upside/downside markers to gauge momentum & potential�…but the value still remains with the Euro Bulls on the prior break & compounding positions thru the earlier step up off 1.2850 & 1.3075 respectively.
There’s no volume I guess people is taking a break. As you said we just need to wait until year pass and everything returns to normality (hopefully).
The market is too crazy right now!
I�m amazed that some people still trading.
I had to adjust all my indicators. Honestly, I don�t feel like trading EURUSD today. I�ll try some other pair
If the content/information of your website is anything to go by, I very much doubt you require �feedback or confirmation� of your trade intentions do you?
As you�ll undoubtedly already be aware, the primary reason for the Dollars resurgence this week is down to the �Obama� effect (recent stimulus comments) & the realization that the ECB are a little behind the curve with their forward pricing re; interest rates & fiscal policy issues.
At the end of the day, it comes right down to one country�s fundamentals v/s the other country�s fundamentals � value will always be weighted & pared in favor of the majority consensus��…if the forward pricing of our (United States) country�s fundamentals outweighs Europe�s potential for forward stability, traders will buy the buck, simple as that.
The technicals will merely tip you the nod as to the optimum time to buy, sell or hedge your bets according to your specific trading aims & expectations.
I got a trendline resistance at 1.3688 but must trend indicators show an uptrend.
I’ll wait until the trend breaks that level.
Next resistance 1.3877
I’ll go long for 1.3877 if the price goes over 1.3721.
Otherwise I’m expecting a reverse.
It�s time for the waiting game!! :rolleyes:
Now is when I get excited 
Made stupid things because of that 
The reverse is just confirmed!
I’ll set my entry towards 1.3500:cool:
She is flying sweetie!
I think you misunderstood your chart
How do you think the BOE action later this week will affect this pair? Also, is the resistance around 1.3720 strong? I’m indecisive. This pair has fooled me too many times in the last two days. Losses have been small, but that still says nothing about judgement.
Anyway, curious to what others see.
BoE actions will affect Gbp more than Eur. The central bank claimed that the pound�s significant drop and falling inflation will provide stimulus to the economy which has left doubts of further easing and sent the pound up over 100 pips to test 1.5200. Disturbing the Euro we have ECB rate cuts, economic confidence index, GDP numbers, unemployment rate, and some others indicators. However, after a brief period of consolidation the Euro could weaken as the pound strengthen against on the back of the BoE�s comments.
I think she’s going further down but that’s just because of the strong downtrend since july and because I don’t trust on what ECB is doing with rate cuts.
1.3502 is a strong level.
I’ll go long for 1.3400 if it breaks 1.3500
EURUSD free fall today. Any hopes it would rebound around 1.357 this week ? That’s what my 50 fibo level is saying.
The market has obviously moved alot since I posted this thread…(I’m suprised people are still responding…) but as of today Jan 12th (tokyo time) I am short at the moment, but there is a relatively strong resistance/support line at 1.3300 on the daily charts…
As I write the (negative) correlation between these pairs is still strong…
Jan. 12th 09
I think the downtrend will continue towards the 1.2900 level.
I got a lowest bottom level at 1.2458. We will have to wait until it breaks the 1.2700.
I like your answer.
I got something similar!
I went long towards 1.3132.
I�m expecting for a downtrend intersection at 1.2934.
Which system are you using?
I’ll tell you why I keep posting here.
There are no serious threats about interactive trade on EURUSD or GBPUSD in this forum.
There are some good posts in this threat…good info!!!
The situation has changed a bit.
The trend has formed a channel between 1.3200 and 1.3100.
I think it would be within that range for a while before breaking down.
What do you think about that?
I like your channel idea.
I was looking at 1H chart but I’ve started trading in 15M after I read your post.
I’m doing good thanks to you.
Take it easy on channels; they are good if you are patient enough;)
However, my target still 1.2928 but I agree with you; it would take a while to get there.