EUR/USD
Mitglied seit Apr 08, 2014
1141 Posts
Oct 22, 2014 at 08:14
In the short-term, EURUSD is at a key potential inflection point: at the bottom of its channel after at least two waves up. A break below 1.2700 could signal the fulfillment of the bearish flag pattern and bring about extension to 1.2500. On the flip-side, expect plenty of short-term buying here as traders buy at the bottom of its flag channel, betting on a return to 1.29.
"I trade to make money not to be right."
Mitglied seit Jul 10, 2014
1117 Posts
Oct 22, 2014 at 15:38
EUR/USD could not break above the resistance level at 1.2840 despite spending days testing it and eventually started descending again, breaking below the support level at 1.2680. I think the next target is 1.2520.
Mitglied seit Jun 08, 2014
454 Posts
Oct 22, 2014 at 19:45
ECB consider to buy corporate bonds and debts causing a major fall on the euro. I'll be looking for a short position under the support 1.2620
Mitglied seit Apr 14, 2014
230 Posts
Oct 22, 2014 at 21:28
sherifFares posted:
ECB consider to buy corporate bonds and debts causing a major fall on the euro. I'll be looking for a short position under the support 1.2620
We might see an re-enter short opportunity with German PMI tomorrow.
Mitglied seit Oct 11, 2013
775 Posts
Oct 23, 2014 at 03:26
The fundamentals from Europe will decide the next move on the EURUSD, if the PMIs come out lower than expected, then the pair may continue with its longer term downtrend
Mitglied seit Apr 08, 2014
1141 Posts
Oct 23, 2014 at 06:56
EURUSD pair fell during the course of the day on yesterday session, sending this pair looking for the 1.2650 handle. It appears that the EURUSD is ready to go lower, and at this point time any rally should be treated with suspicion. With that in mind, the pair can drop to the next key level at 1.2500 or even to the 1.2050 level based upon longer-term charts.
"I trade to make money not to be right."
Mitglied seit Jul 10, 2014
1117 Posts
Oct 23, 2014 at 15:31
EUR/USD was descending but encountered support at 1.2630 and bounced back a bit from it. Personally, I still think it will reach 1.2500 but it needs to break below the support at 1.2630 and it's uncertain whether that will happen right away or range will begin again.
Oct 23, 2014 at 16:22
EUR / USD moved up denoting what brought the PMI data for October.
The numbers were above the neutral level for the 16th consecutive time.
The preliminary composite PMI of the euro zone - covering the sectors of industry and services.
Unexpected was the rise of the German PMI industry.
The numbers were above the neutral level for the 16th consecutive time.
The preliminary composite PMI of the euro zone - covering the sectors of industry and services.
Unexpected was the rise of the German PMI industry.
Mitglied seit Oct 11, 2013
775 Posts
Oct 24, 2014 at 02:44
The EURUSD is kind of taking a break, but the bearish trend may continue.
Mitglied seit Apr 08, 2014
1141 Posts
Oct 24, 2014 at 06:58
EURUSD initially fell during the yesterday session, but found enough support at 1.2613 to reverse and move up towards the end of the day to form a Doji Cross. The fact shows that the market is indecisive, essentially trying to digest its next move in this region. The pair is still in a well-established bearish phase. However, the most important thing to pay attention is the area between 1.2868 and 1.31, as it is such a massive resistance barriers.
"I trade to make money not to be right."
Mitglied seit Oct 08, 2011
137 Posts
Oct 24, 2014 at 08:00
EUR/USD signal:
watch the 4 hr. chart change to the next bar.
If the high of the current bar stays at least 1 pip below the high of the last finished bar - then this is a major buy-stop entry formation.
Buy @ 1.2676 (bid)
stay in the trade to the next reverse-hook to near 1.2735 - or even to near 1.2750
watch the 4 hr. chart change to the next bar.
If the high of the current bar stays at least 1 pip below the high of the last finished bar - then this is a major buy-stop entry formation.
Buy @ 1.2676 (bid)
stay in the trade to the next reverse-hook to near 1.2735 - or even to near 1.2750
"a little bit of knowledge is a dangerous thing"
Mitglied seit Jun 08, 2014
454 Posts
Oct 24, 2014 at 10:00
I am still waiting on the 4 hours chart for the break under 1.2620 or a rebound from the support levels to decide an entry point
Oct 24, 2014 at 14:34
The EUR / USD has not been as active as it had used in the past weeks.
Known today were the sales of new housing in the United States in September with values 0,467M to stay above the previous value of 0,466M but below 0,470M representing the market consensus.
Known today were the sales of new housing in the United States in September with values 0,467M to stay above the previous value of 0,466M but below 0,470M representing the market consensus.
Mitglied seit Oct 08, 2011
137 Posts
Oct 24, 2014 at 14:49
Trade reference EUR/USD buy-stop @ 1.2676:
according to the rules of the chart-language, this is still a valid trade entry price on the 4 hr chart.
according to the rules of the chart-language, this is still a valid trade entry price on the 4 hr chart.
"a little bit of knowledge is a dangerous thing"
Mitglied seit Oct 08, 2011
137 Posts
Oct 24, 2014 at 14:52
A trading range is defined by 21 or more bars, where bars 21 through 29 historically have the best chance to break out of the range.
When looking at the 1 hr. chart (EUR/USD), the range is currently on bar nr. 27
If the range trades beyond bar 30, chances are that a trading range will build on the 4 hr. chart.
This rule applies to any chart time-frame.
Often price congestions start and end with a doji-bar. 2 in a row can be seen on the 4 hr. chart (last 2 finished bars)
When looking at the 1 hr. chart (EUR/USD), the range is currently on bar nr. 27
If the range trades beyond bar 30, chances are that a trading range will build on the 4 hr. chart.
This rule applies to any chart time-frame.
Often price congestions start and end with a doji-bar. 2 in a row can be seen on the 4 hr. chart (last 2 finished bars)
"a little bit of knowledge is a dangerous thing"
Mitglied seit Oct 08, 2011
137 Posts
Oct 24, 2014 at 14:55
As I have mentioned in my previous posting, bars 21 to 29 have the best chance to break.
When you count the bars on the 1 hr. chart, bar nr. 29 was the bar that broke and closed outside of the MB (measuring bar from Oct. 23 @ 11.00 AM).
The 4 hr. chart had 2 doji bars in a row, which also indicated a possible end of the consolidation.
A price consolidation consists of 10 bars or less.
When you count the bars on the 1 hr. chart, bar nr. 29 was the bar that broke and closed outside of the MB (measuring bar from Oct. 23 @ 11.00 AM).
The 4 hr. chart had 2 doji bars in a row, which also indicated a possible end of the consolidation.
A price consolidation consists of 10 bars or less.
"a little bit of knowledge is a dangerous thing"
Mitglied seit Oct 08, 2011
137 Posts
Oct 24, 2014 at 14:55
How to trade out of a trading range:
Take the most recent lowest point of the range (1.2633), call it the bar "zero"
This bar is followed by 3 bars, each one of them has a higher low than the preceding bar (must be at least 1 pips difference).
If the 3rd bar (after the "zero" bar) is an inside bar (higher low and lower high than the preceding)
then buy 1 pips above the high of the inside bar.
In this case the price was 1.2653 (+ 1 pips)
Prices rose 40 pips from the entry price.
Take the most recent lowest point of the range (1.2633), call it the bar "zero"
This bar is followed by 3 bars, each one of them has a higher low than the preceding bar (must be at least 1 pips difference).
If the 3rd bar (after the "zero" bar) is an inside bar (higher low and lower high than the preceding)
then buy 1 pips above the high of the inside bar.
In this case the price was 1.2653 (+ 1 pips)
Prices rose 40 pips from the entry price.
"a little bit of knowledge is a dangerous thing"
Mitglied seit Jul 10, 2014
1117 Posts
Oct 24, 2014 at 15:43
I didn't expect that Friday would be so uneventful. Nothing interesting is happening and I think we might have to wait for Monday before we see any major change in the EUR/USD chart. Have a fun weekend, everyone.
