I set an order to short at 1.2600 at the start of the week. Price touched my magic number to the pip and dropped like a stone.
I chose 1.2600 as there was a minor trendline, the 4 hour 200 ema, the daily 50ema and the monthly main pivot.
I’m currently up 200 pips with my stop at breakeven and aiming for 1.2000 (but I’ll be watching 1.2250 closely for any change in fundamentals and sentiment.)
You guys need to start using the daily, weekly and monthly charts more as price is more likely to respect indicators and objects on higher timeframes and pay more attention to fundamentals!
after last week I think I won’t believe any trend until I see a strong trigger
The ECB president said that “It is unlikely a strong recovery in the coming months”
R3 - 1.26436
R2 - 1.26091
R1 - 1.25728
Daily Std. Pivot - 1.25383
S1 - 1.25020
S2 - 1.24675
S3 - 1.24312
EURUSD fell sharply during the course of Friday’s session, testing the 1.2350 level. If the pair can break down below 1.2350 will head down to the 1.2050 level, which is a longer-term support. Ultimately bounces are selling opportunities as the US dollar should continue to be by far the safest currency in the world at the moment.
just waiting to see if the EURUSD continues going lower, but today it seems to be correcting somehow.
I just sell and its going up. What say you? Hope its hoing down again
The pair will back downwards soon just you have to keep your eye on the market.
I have a short 4k at 1.2364 , exactly where it bounced up. How about that 
Another one. FXViper had a short 25LOT !!! today afternoon and took it out with +6.9 pips, profit $1600
This is not fair.
After good news out of Germany this morning, Euro gain slightly against the dollar, but bears are still strong.
Despite its descent on Friday EUR/USD reached the support level at 1.2350 and bounced back, forming what appears to be a double bottom on the daily filter chart, so a new movement to the upside is possible. On the other hand, the bearish trend is not over, so I doubt this is a long-term reversal. That said, a new drop will be confimed when or if it breaks below the support at 1.2350.
well let’s see the ECB counter measures this week.
I agree with you, the bearish trend is far from over even though the Euro has slightly recovered lost ground from last Friday.
The daily momentum studies indicate positive divergence between them and the price action, which gives additional reason to wait for a fall.
R3 - 1.25539
R2 - 1.24990
R1 - 1.24696
Daily Std. Pivot - 1.24147
S1 - 1.23853
S2 - 1.23304
S3 - 1.23010
Could the EURUSD show a doble bottom formation? Just in case, be attentive to another leg down.
I’ll tell you what the market thinks of Draghi. When the speculations that the council is unhappy with Draghi began EURUSD popped higher. Just shows you what traders think of him. The Euro should in fact trade higher due to EUR recycling by central banks in Asia. Just my opinion.
Just wondering if you can elaborate on this recycling by banks. Personally just gone short (again lol) @1.2440 but always keen to learn a bit more bro.
EURUSD initially fell during the course of yesterday session, but found enough support to bounce back up from the 1.24 handle. However, this is a pair that in a strong downward trend, so we may expect some sideways consolidation and the pair should continue to stay below the 1.26 level in the foreseeable future.
Sell is the best choice from this point in my opinian .
EUR/USD really did form a double bottom at the support at the 1.2350, which proved to be quite strong, and is now headed for 1.2570. Between that double bottom and the strong support I am starting to wonder whether this is not the beginning of a more long-term correction, despite the bearish trend.