Not far off that San… went long at 1.3019 after todays 100 short from 1.31. Will look see on the Asian but am fully prepared for a bailout if it gets to 1.3060 - 1.3073. 
LMAO! Too funny!
Mine is set to kick me out at 1.3057.
Funny how you can use completely different techniques, but arrive at the same corner
And yep RC that is a fairly staunch zone at 1.2980 or so.
Ever play with that “second time through” technique?
Your thinking resistance off either the 10:00 am 15m candle or the 15m 20 ma. Probably a good call with sentiment the way it is.
‘Second time through’?
Edit: doh… meant 1h chart 10 am candle & 20 ma… too many charts! 
It just struck me… we all took a counter trend trade… between us you’d have thought we’d have known better! LOL.
Just gone long at 1.2982 TP 1.3024. :D:D:D
Second time through, is a Don Ross observation. Price moving quickly one direction or the other, and running into stauch s/r. A predictable bounce happens, and price resumes it’s original direction. Only this time, the earlier clobbering weakened that zone, and price moves through easily.
And yep, one hour chart it was/is. I’m gonna give it a little more tome in the Asian session. We’ll see how it does:D
It would be nice to hear a LITTLE good mews out of the EZ…
Switching back up to the daily TF… I’m happier there. I can easily convince myself of a good bounce off present entry… its over due in any event. TP’s a moving target on my set up but currently better than 1h and 4h. Think well see some change from those poor earlier entries and some by Wednesday/ Thursday.
Didn;t move much overnight, not usually a good sign. Anyway, I’ve taken all but 20% off so I’m just gonna leave that to run. Looks like a bottom with 2 tests of the 1.3 area but you’d expect buyers or covering to come in quicker.
Just as well I kept some 
Right, looking for around 1.3130 and then anything good on the 4hr chart and I’m back short for 1.28, 1.26.
Portugal will be next mess in a few days time for this emotional market.
I got tired looking, +5 - 0 - +5 - 0 etc and hit the wooden hill. +80 looks much better this morning when I booted up but still further space on the upside on the daily.
Starting to wonder if there IS much more upside.
I didn’t leave anything running, like the sensible Mr. Miguel, I closed everything out at 1.3087.
Just waiting on the green light for the southbound freight train.
Working off the daily my TP is 1.3149.
Really?
I think we have a bit more room to 1.28, .26 yet
LOL I’m not suggesting this bounce is the start of a trend reversal but think its got potential to reach 1.3150’ish today/Thursday?
It’s near the upper 2ma daily. That would be a pullback in a downtrend? good place for a short?
I like this thread, kind of daily chat on your view of what’s happening on one particular pair. I’ve been following a similar GU thread on the FF forum.
Yep, agree with that.
4hr chart could go as far as 1.3350 but any shorts would be looking to get back in there.
If you time how far it moved up before a retrace from the yearly low (cycles), then there is more room to the downside at some point…at least until people start focusing on the US again.
Hi Mike… I think this is the start of a bounce out of that daily TF bar 2 ma hi trend line over the next few days. Ever the optimist.
The fundamentals are pointing down since several years. That has nothing to do with that news stuff coming out now. The eur kept price high even anybody with a little macro economics knowledge knew that Spain and Italy have debt issues. Plus everybody with a little knowledge about the EU knows that it is a political currency.
Anyways, if all would be that rational, everybody would be rich. That’s why I still keep looking at my bull trade in my contest. If the unexpected comes around I’d get some “points” there. Only limit is time. Only 1.5 weeks left there.
As I said, fundamentally the eur would be a fair value at 0.5-0.7. Look how far you can drive with 1 eur in Europe and 1 usd in the US. That’s the real intrinsic value of the currency.
Despite those facts I expect the eur will climb new highs later. Look at the piigs and who gave them money. Look at the fed and what they do.
Okay, very short time I expect it to climb to 13255 or something around. Maybe a little higher. After that, I don’t know. Could go down or up. I see a little more up probability until the start of next year.
Purchasing Parity Index has fair value for EUR at about 1.18 or so - this is it’s fundamental fair value when judged against a basket of goods. The difference between how far you can drive with 1 EUR compared to 1 USD comes down to govt. tax mostly. You can’t measure fair value using one single commodity.
Caught that three ways… long from last night out at plus 130, then short for plus 50 then long off 1.3050 and out at my original TP of 1.3150 for plus another 100. Now short at 1.3160. All off 4h & daily. Its been a good day!
That was some 6 minute bounce just there - 100 pips. I’d been debating about going long at 1.3050 but decided to hold off for 1.3030 if it came. Foiled again!