She was a polemic and misunderstood trend.
Although she made many people happy.
EurUsd has passed out today since she touched 1.3451.
We are expecting a quickly resurrection.
Technically- On the Jan. 16 th daily chart, a bullish candle formation emerges, Doji, Hammer, then (as of writing) a strong bull candle.
Fundamentally- ? Not sure, a possible retreat from risk aversion, hence more strength in the Euro?
Last couple days activity has been focused around Trichets comments about forward Eurozone interest rate policy.
Those comments (+ whispers of further treasury capital injections) got reflected in the price action, tick-boxing those indecision daily bars printing at a previous level of s&r behavior.
If you pull up a 4 hour frame or zoom out on your hourly, you can get a little more clarity on that 1.3050 closing zone, which rather unsurprisingly earmarked yesterdays low into the London closing prints. That hourly doji certainly mirrored the hesitancy down there as players continued to trim & prune.
Traders have been paring their short positions since late Wednesday & balancing out ahead of the weekend.
Doesn�t appear to be a whole lot of aggressive Euro buying (yet) on the main wholesale desks into late week trade, rather paring of shorts & pockets of bargain hunters sniffing at that yesterdays technical s&r flip zone. Average daily range extremes are in line with rolling 10 & 20 day coverage, so no real upkick there.
I’m still looking for 1.2900 level.
However, I’m a bit pessimistic.
I think it would consolidate and retrace from 1.3100 for a while.
Ok, profit targets should have been hit @ 1.3060. We should be looking for long positions.
Long Position @ 1.3060 TP @ 1.3220 +/- 10 and we should have a roller coaster ride down after that! So get we should be looking to short @1.3225 +/- 10.
Happy Trading!
Down she went!!!
1.2968 and 12850 are the strong levels now.
It probably continue with the downtrend: Oil is getting cheaper for dollars, US confident is low and people is not buying, China continue to be affected for oil prices and US exports to that country have been really poor.
This is an ideal moment to go long on E/U!
Suggested entry: 1.3060 +/-15
Take Profit: 1.3400
This should all unfold by the end of the week
You can use a 100 pip stop loss to feel comfortable
Happy Trading!
interesting view, but why?
care to expand (for observers) on your reasonings for taking the long at current levels? It might help reinforce your view.
Trichet (& Ackerman) has jawboned to the market that the ECB are reluctant to drop rates at next weeks meeting, preferring to wait until they get a good look at the March data.
ordinarily, that would be reason enough to support the Euro & push prices higher to aggregate/balance out order tickets etc.
maybe traders might forward step that outlook & sell the single currency on the grounds that they�re (ECB) behind the curve on rates?
especially if the March data comes in below expectation?
they could always spring it back up the ladder farther down the line if/when the ECB rhetoric is more aggressive, or key data supports the ECB stance on interest rate value to cost ratio�s.
Just going along with my technical analysis(not too big on the fundamental). However, many people I believe, got suckered into selling(prices shouldnt have went below 1.3090) and as soon as their stop loss or take profit gets triggered, thats going to help rocket launch prices. We should start seeing significant moves at the start of the US session.
Happy Trading!
Sorry Fxeliterader, the thread title is deceiving, I have been hanging out for a long position, but it just has not happened. I’m following the trend, and as of writing that is down…
ok, cool. I appreciate fundamentals aren’t everyone’s cup of tea.
hope you get something out of it 
I actually see the weekly trend as up and I use the 1.3300 area as my resistance target, but we should see that area break by the end of the week. I expected prices to go to 1.3090 but they went all the way to 1.3030(that means alot of people got suckered into that).
Happy trading!
I am still not towards the bull side on this pair yet. A possible region I will look at for long is around 1.2800 to 1.2700 region if it gets supported and shows bullish signal. 
I’m waiting for a sign that the pullback on EUR/USD is ending and we’re ready to go up again. We broke the down trendline on the 4 hour chart on 1/26/09, and have seen a nice pullback since establishing a higher high. If I see a bullish candle, I think I’ll jump in long on the Euro and see where it takes me.
Jon
OK, I got stopped out by a trailing stop at 23 pips on the first position at 1.3078. I have entered another long position at 1.2886, and looking for a 200 pip tp and stop loss as always at 100 pip. Lets see how it goes.
Is that a demo, or a live trade?
Good luck, you�re a brave soul indeed.But then, faint heart never won fair lady huh?
The sentiment, which my colleague (Jim) mentioned yesterday, hasn�t dissipated overnight.
Major players aren’t buying Euro�s in acceptable quantities (yet) whilst so much uncertainty exists.
Tranches of the single currency were getting sold heavily on wholesale desks into that Tokyo resistance line yesterday, & continued to sell off into the NY closing prints. We�re not hearing of too much buying going on this morning, certainly not ahead of the GDP numbers.
There’s a decent bit of consolidation of shorts currently being pared, which might cause a pop (on settlement orders) into late London trade.
We�ll get another look at the color of the pot later today when that U.S data hits the tape, but at the moment, funds are light Euro�s in favor of U.S Dollars & Yen.
Demo? No buddy! I only use a 10:1 leverage and I only trade two currency pairs so I never have more than two positions open at any given time. My trading plan is based on ideal entries with a trailing stop, so my 100 pip sl never really gets hit. Low leverage is good for the heart and brain, no worrying about a margin call or a life changing loss.
Happy Trading!
I understand, I will definitely be closing my trade before 1 pm, not holding this bad boy over the weekend but the bottom have been hit at 1.2830 and even though buying might not be too much, I think a long is better than a short at this point…but the best choice is probably to stay out 
morning Jocelyn.
do you think the recent downgrade of Ireland�s outllook by moodys is another negative on the Euro going forward?