EUR.USD

Clarky, there is to much on those charts for me to take in. However the thing to note on the weekly is where the price is based on a bear fibbo.....it has stalled at the strong 23.6 (you have it as stalling at the 38.2 on your fibbo). Your fibbo`s are wrong.

We must now wait confirmation of the pullback (which looks to be wave 1-2) it looks like the best time to start trading long would be circa 2300 with the first target at 3168 2nd target 3874 and 3rd target 5000. That is a little way off yet though, first we must deal with the drop.

So now putting in a bull fib with the 100 at the top of the recent range circa 3170 and the zero at the bottom of the range circa 2030 you will give yourself 3 entry targets. The first will be at 50% the second at 38.2% and the third at 23.6.

Now remember all the above is based on the weekly. To fine tune your entry drop to the daily then the 4 hour (which should be your ultimate entry trigger).KI.

Here goes - here is my analysis of EurUsd at the moment.

please please PLEASE comment, whether its good or bad. We need more discussion and more feedback if this is going to work imo. Don't be afraid to say what you feel, whether its good, bad or indifferent, it all adds value to the discussion.

I'll start with the long term, then a closer up view of some fibs, then a daily view:

Please bear with the chart if at first you think there is alot going on - your eyes will eventually see what I do. Thanks.





So,basically what I want to show on this chart is the overall pattern the previous 7 years has formed. You can see this within the heavy blue channel lines. This is as clear as day imo, and has conformed to the trendlines religiously.

You will notice the bounce off the main support line in July 2012 - then the subsequent break of an intermediate downtrend to get it there (in line with an RSI break as confirmation). However it has now found some resistance at the 38.2 fib extension and has ranged there for 2 month.

Not now the RSI support trendline (green line) - I reckon we could look to test that pretty soon, which would be see us test the 50% fib extfrom the recent low-high(shown in next chart) and maybe even coincide with one of the horizontal supports aswell as the previous RSI trendline resistance (blue line on RSI)

WEEKLY CLOSE UP




What I want to show in this is the recent fib extension to determine where I think this will go if it does retrace before a potential move back up.
I would aim my attentions to the 50 or 61.8% fib extentions. This looks like it will coincide with the RSI support nicely, as well as the horizontal supports marked on the charts

DAILY VIEW



So a daily view of the Close up weekly view we just saw.
What I think this shows is the bearish momentum, indicated with the recent break of an intermediate trendline (thin blue line)on the 25th Oct, aswell as bearish RSI divergence.
I do think there may be an intermediate up move before we go to possibly test the 50 or 61.8% fib - either here, or at the 38.2% (i certainly think it will find short term support @ 12750 no matter what) - but ultimately I see us testing the 50%-61.8% fibs. It may - it may even test 12300 again coinciding with a major previous support, aswell as retesting the channel downtrend it broke out from.

SUMMARY

Short term - bearish, look for levels @ 12620, 12480 and maybe even 12300
medium to longer term - expect moves up towards the upper trendline between 14000-14300

ALTERNATIVELY

Short term it could just range in its current range of 12800-13175ish shown on a 4H chart

dl.dropbox.com/u/4899609/eurusd26thoct.png

ive gone long on this due to trend line touch with a 40 point stop.
Its currently on the trend line




if it goes through then this could drop heavy so bear that in mind

Dyor
remo

Target 2805....adding to my initial entry on any 30-50 point pullbacks.KI.

I have traded EurUsd but lately have had a nibble at EurJpy which is very similar, anyway these are longer term trades so may not interest you.

Weekly dl.dropbox.com/u/43650856/EUR%20JPY%20weekly%2024th%20Oct.htm

Daily dl.dropbox.com/u/43650856/Eur%20Jpy%20Da...20-%2024th%20Oct.htm

I am also trying to trade it, short and selling into pullbacks. Is that correct terminology ? lol

Been trading this and would love to hear any comments?

I understand most people are from the UK so only trade GBP related pairs but I am sure there will be some who will trade EUR soon enough as the word spreads

I trade on 1min, 5min, 15min & 30min bars so very short term trends really.

Spidy