$EURUSD Elliott Wave Analysis. Although the single currency has retreated after early anticipated rebound to 1.2444, if our view that a temporary low is possibly formed at 1.2042 is correct, downside should be limited to 1.2240-50 and bring another rebound, above said resistance at 1.2444 would add credence to this view, bring retracement of recent decline to 1.2478 (61.8% Fibonacci retracement of 1.2748-1.2042), then 1.2500 but reckon 1.2555 (38.2% Fibonacci retracement of 1.3385-1.2042) would limit upside and the pair is likely to falter below 1.2600, bring another decline later.
- I posted this elsewhere, but it seems to be the talk on my news feed and I noticed it yesterday when I wanted to take a breather from the yen crosses which I have been killing lately. Another possible bullish signal for EUR/USD, provided the bad news is limited:
If the July trendline (starting July 24 lows) holds @ 1.2250/60, then there may be a bounce targeting 1.2400/50 depending, but if that line breaks, 1.2150 (Aug 8, 2012 lows) would be the first target of a move down. No guarantees either way.
Read more: 301 Moved Permanently
This is a dull week. EURUSD is capped in a 120pips sideway range. The big players are the ones with the $$$ to move the markets. And they are mostly on their summer holidays sunbathing on a beach. Volatility will return when they return.
On thursday i gave a live call to LONG EURUSD. See link.
Here are the results of that trade. From the 4hr chart below, EURUSD touched the 3rd point of the rising channel. It attempted to go up but only managed to rise for 100pips. It is enough for me to earn some profits on this trade.
The 10min chart shows the details of my trade. Trading is a mind game. Remember this. Take what the markets give me.
O sleeping EURUSD beauty! When are you waking up? Which direction are you going? Are you going out with Mr Bull or the Mr Bear?
This slumber of yours is causing many traders to be sleepy and not watch EURUSD attentively. At the point of maximum drowsiness, EURUSD will break out. And when it does, it may go onto a fast and furious trending mode.
So here are my 2 scenario analysis for the bulls and bears.
Scenario #1 (Mr Bull)
For the bulls to prevail, this has to happen.
Scenario #2 (Mr Bear)
For teddy bear to win, this is the possible situation.
congratz! win big big on your long calls ya! :32:
Thanks! Looking to add to my long positions in eurusd today. Looking to add when price retraces to some support level.
How is this pair going to wake up anytime soon considering the long term underlying fundamentals? This interconnectedness between economies is one of the drawbacks of globalisation, and it won’t be awhile before real fundamental recovery actually occurs
EURUSD: likely decline.
Good afternoon. The market situation is characterized by a high probability of a decline for the euro-dollar. In the picture you can see the basic scenario for the current week, resistance is located at 1.2820 area, the goal of 1.2520, the timing of the forecast - up to 17-18 September. I wish you a successful trading this week!
Indicators tend to be bullish.
Resistance: 1.31836 Targets: 1.32446, 1.33057
Support: 1.30615 Targets: 1.3005, 1.28784 Obstacle: 1.29395
after hitting the 38.2 on the weekly , we will at least see 1.25 .
Alright Guys Lets be with bears
Do you think the Cable will consolidate again towards 1.60: That’s where I think it’s heading now.
I’m looking for another testing of 1.60 in the cable. Any opinions on this?
A quick heads-up for you all, today on the EURUSD we had an inside candle of the previous, i assume mainly due to USA markets being closed, so set your sell orders at the daily low and buy orders at the daily high for the breakout.
Details on my position:
Long-term Short Bias
Entered: 1.27750, SL: 1.28600
TP1: 1.25889, TP2: 1.24885
I think we will head lower, 1.2600 and then 1.2400.
My level of resistance is last week’s high at 1.2800. That’s a potential 140-340 pip gain for a 65 pip risk (from current level). Worth taking IMO.
I hear there are a bunch of sell orders at 1.30, however, I have heard that there are a lot more buy orders than the sell orders, therefore we should work ourselves up through 1.30 (Source:
http://www.fxfatcat.com
). Target 1.31, that’s mine anyway.
I plan to stay long for the time being.