As from what I have read from the recent news, Dollar jumps as political risks in Asia and Europe persist. I think this will really affect the trading between EUR/USD.

EURUSD moving in down trend below 1.0580 , support is 1.0580 and resistance level is 1.0670


Know More Pair Update - www.equityprofit.com

Short into any strength imo

Monthly swing still in play...





Rgds WS.

Free trade now


dl.dropboxusercontent.com/u/4899609/eurusd6thmay2015.png

possible 123 low set up. One to watch


dl.dropboxusercontent.com/u/4899609/eurusd29thapril2015.png

Possible double bottom trade on a first attempt. So one to keep an eye on
Use tight stops if it hits the entry level


dl.dropboxusercontent.com/u/4899609/eur13thapril2015.png

Looking for a long on first attempt at 1.2358? or be better to wait and see if it tests the uptrend line first?

gyazo.com/81428596ad807972f44f8f377d38f1e3

Losing trade
slowly went through. This could go lower now so im out of this for the time being.
I may look to shorting this on the back test of the breakout point. using tight stops

Ive just gone lone on a first attempt basis from the support line. Im using 25 point stop..
This is a day trade so need to watch this.


dl.dropboxusercontent.com/u/4899609/eurusd20thaugust2014.png

Possible long from the first attempt of trend line. Stops should be below the nearest support if entry happens


dl.dropboxusercontent.com/u/4899609/eurusd16thjuly2014.png

Don't shoot the messenger

This has finally smashed through the 1.3820 area!!

Banked some @ 1.3860
SL for the rest moved to 1.3800

Nomura's take on Fiber


I'm not advocating it

Just a messenger

123 low + range breakout
I'm already long from 1.3655
SL is below 2 of 123 low



1.3820 area is the key resistance!

Cheers for the heads-up RC.

I'll keep an eye out on this trade, and I'm actually biased towards your view of the currency pair than Nomura's take to be fair; but in some cases I simply post institutional views (such as UBS's weekly TA for example) to get different takes on the markets, and do so purely as a messenger (as per Remos' DYOR!)



Catch up soon, and keep on posting, always look forwards to your trade set ups!

Libero wrote:
alarm bells started ringing when I read their TA... word of caution if you follow Nomura as
1. no mention of time frame on chart
2. source is Bloomberg
3. analysis is based solely on wave structure - which is suicide in trading ( My opinion)

I believe what they have shown is 4H chart - their bear flag did break down - but soon shot up
(you can call it a Draghi effect BUT also look at the massive MACD divergence on the chart - I am sure this had some role behind the rise!)


there is a nice triangle on weekly

1.3800 is a massive triangle resistance

it has flirted with that area 3 times on the daily chart


I am in favour of a break to the upside

Folks,

Nomura Bank's take on the EURUSD...

Their take is:

But that was before Draghi spoke.

looks ok ..


dl.dropboxusercontent.com/u/4899609/eurusd26thjan2014.png

dl.dropboxusercontent.com/u/7238706/EURusdDaily.png
Could someone verify this price please?

My 10 year view.....


dl.dropboxusercontent.com/u/7238706/EUR_USD.png

......it looks like this could be almost cooked for the time being. I'm expecting a drop back fairly soon.....unless the chart is 'carp'

Diver.

Just hitting the trend line @ 1.35200???

Nomura's F/X Take on EUR/USD...

In Summary:

EURUSD – bear trap (close above 1.3207) clears path for 1.3298

been waiting to see if we could get a rise out of the channel, also if we get above the previous swing high this could go up a couple of hundred of pips. I have a pending order from yesterday to go long, which is waiting for the next rise should it come.

My view on the EurUsd at the moment.

I believe this to be at the top of a wave 5 on the 4H chart (not sure what the experts would assign as the tag for that wave 5 - i.e an intermediate, or a minor or a minute wave?)

Anyway, this is the chart

Here's the chart:



dl.dropboxusercontent.com/u/20815047/EURUSDdaily09_07_13.gif

I'm short on this now from earlier in the day when the neckline broke. There's possibily quite a big downside target if the H&S plays out (see earlier chart).

Unfortunately, it didn't quite make my upside target at the backtest of the short term uptrend which was at 1.2919 today so I got stopped out at b/e on my long. Hopefully the short will do a bit better - the RSI seems to support that as a possibility.

I may look to add on a backtest of the neckline.

remo wrote:

This should be a free trade now
Thanks goes out to gclark for highlighting this last night

This is due a retrace, possibly to 1.3114 but, as I'm chicken, I just got out and took the profit.
Ultimately I have this descending to 1.2456 to complete the present cycle. DYOR

I'm long too but with a slightly tighter stop as don't think it's good for more than a brief bounce. I'd be happy if it tests the breakdown of the previous short term uptrend (not shown). The RSI is suggesting that this neckline of the big H&S is going to go IMHO:



dl.dropboxusercontent.com/u/20815047/EURUSDdaily08_07_13.gif

I'm long now with a 40 point stop from here.

It has now reached that oblique support mentioned last week. Question is - will it bounce?




gclark25 wrote:

I had a long position ready to activate but it missed this by 8 pips.. ..gutted....That was from the trend line on first attempt but it bounced early..So now i have cancelled that long as i wont try it on a second attempt on the same day..


dl.dropboxusercontent.com/u/4899609/eurusd3rdjuly.png

I should add though, there is news due today at 1.30 and 3.00pm, so I will move my stops to break even; thinking being that if it is bearish for the dollar, eur/usd will probably shoot up and chances is take out my stop regardless of distance, but if it is bullish the opposite will occur, probably resulting in it going no where near my stop.

The alternative is news is as expected and doesn't really effect price action too much, then that leaves my B.E stop at risk.

however I would rather err on the side of caution.

Short oon the Eur/usd based on following 2 charts.

recently broke the previously mentioned range- initially it looked like a double bottom forming, but it continued in the range, but it broke out that range last night and looks as if the oblique supporting trendline on the Daily chart (not the weekly one yet) is a near term target.




Chart above showing overall target




Above chart showing the breakout from the range.

No need to post this, but if you look at the weekly chart, you can see that the area between 12870/12890 (the target area initially) is a previous price action area.

Since we are running a free week campaign, I am allowed to share our charts
Here is count #2 for eur/usd:

A bounce in this area looks plausible (12990/13000. Decent support level previously and a round number. If we look at the 4H chart we can see signs of a double bottom and the accompanying divergence on the RSI/Williams.

Targets may vary - but I am looking at the 13200 area where strong resistance can be found via previous S/R levels and the 50% fib retracement.

Area's too look for on the way up -

50,100 & 200 sma's (or any other MA's you work with)
13090 (again previous S/R + 23.6% fib.)
~13150 - 38.2% fib

There is also the possibility that the price will range between 13000 to 13090.

Just a thought.

I've been bullish for a while, but today found the best way was to buy the dips and take profits at the distribution stages.
winning trades


This is a fib extension, however the weekly down trend is fast approaching, so I am looking forward to seeing how or if the bounce goes.
Long term views

This is approaching the intermediate downtrend resistance at 1.3454 (falling daily). One more little rise up to that looks like it'll complete a corrective pattern upwards so the move down could be nice if it works out:



dl.dropboxusercontent.com/u/20815047/EURUSDdaily14_06_13.gif

There's a lot of bear talk about this pair so I wouldn't be surprised to see it break upwards. Make sure you have your stops!

of course as i have an open long term short position...i think i see what you see, quite possible.


will post up a chart later on or of course if you can then we can discuss further.

cheers WS

Wavesurfer, are you following this? Is that a triangle forming on the 4 hour chart? Possibly some kind of B wave?

ultimate long term target eur/usd.87

both GBP and Eur rallies against USD represent - opps to short into the bounces. all imho, dyorWaveSurfer wrote:

I mentioned a few weeks back to keep an eye this development.... euro better turn here (not in my case) or its a kaboom down....

heres that updated chart.

diver your 1.22 looks good to me imo....





dl.dropboxusercontent.com/u/40497882/eur_usd_17may13.JPG

Having taken a closer look at the 'squiggly bits' ........



I'm gonna stick my neck out and say this is gonna confirm the trend line break and head down towards 1.227 and on to a possible 1.08 as this is possibly a wave C of C.....
Now watch the SP soar

This just shows how trading the trend lines on a first attempt can be profitable
Obviously you need to be able to draw a trend line properly...This eludes majority of people.
Accuracy is every thing when it comes to day trading.

this bounced of the trend line beautifully yesterday and moved 30 points on a first attempt basis.. now its re-testing the trend line so i would not go long on a second attempt.my remaining shares stops are just below the low of yesterday.

Looks like you could be right again Remo. Looking back from afar this looks like a beautiful triangle....ignore all the squiggly bits around the current trading: they come from daily charts. Hopefully this will break through the upper trend line with this move up from the lower trend line

worth a long at 12857 on
first attempt basis. with tight stops
This is a trend line play

Updated Weekly Chart to see how this is playing out ....nice drop

dl.dropboxusercontent.com/u/40497882/eur_usd_09%20may13.JPG

Long @ 1.31141
SL @ 1.30541 (60 points)

Possible formation developing....

dl.dropboxusercontent.com/u/40497882/eur_usd_02%20may13.JPG



dl.dropboxusercontent.com/u/40497882/Daily_eur_usd%2002_May.JPG





cheers WS