Search results

The 1844 level may be breached here. My wave c target is just below this level although the 1850 area is very good support. May consider a long near this level. Good luck

Hello everyone: I did haul myself out of bed to check the London open and found it trading pretty much unchanged from when I gave up for the night. I have the following support and resistance to offer (cash): Res: 1967 -1973 Key Level: 1927 Supp: 1883...

I use Elliott Wave an find it useful especially on the longer term charts. The decline from the high in Dec 04, to the November 05 low completes a 5 wave decline. The 12653 area is a 50 % retracement of that downward move. I'm using a weekly chart for this. This should represent the minimum...

Thank you spersky for your opinion. The more views we share hopefully the clearer the bigger picture becomes. I am undecided here because of what I see on th daily chart. We have a long descending channel followed by a breakout to the upside of the channel and then we see what is more or less...

Closed at 1926 Probably too soon but.....

Long: 1912 cash Short term target: 1930 - 35

Lorenzo: I assume you went short at 1913. What do you think is a reasonable downside target. Resistance seems to be at 1873 - 1850 and if that gives away 1770. I don't expect 1873 to give way but.... I am looking for a long position although the picture is far from clear. As indicated...

Went short @ 1955. Closed my position at 1917 basis spot. I need to be out to think. We may get another run up to the high. The 12020 - 24 area is still a target but we will see. I look forward to any comments that anyone might have as to whether or not you think this marks a bottom in...

Strong resistance at the 1968 - 1973 area, (spot) If we get above that then no major hurdles until we reach the 12034 area. A failure to breach the 1973 area may be a good sell, looking to retest the the 1915 area. I welcome any comments.

On checking the Euro this morning during the London open I found it still trading in a reasonably tight range. If someone would have twisted my arm and asked which direction it would most likely move...I probably would have said toward the 1850 low again. Imagine my surprise at 7 am this...

I agree. The cash chart has very little upside until it runs into stiff resistance at from the 1905 to the 1916 level. If it makes it through this level we have a much clear path above to the 1940+ area. Patience is a virtue or, so I am told...

I am not trading the Yen however, I came across this in the rumor mill from the FXStreet website that may be of interest. It concerns concentration of large scale bids and offers that may in the market. "Bids look to keep the underlying propped higher at 118.80 with heavier considerations...

1864 coming into the headlights. (cash) If a long is elected at this level there is a well defined stop if nothing else. Below that 1850 must hold. Next crash level after 1850: 1810 Yikes!

Same view as yesterday: Key resistance 1916 (spot) If breached, target 1940 and then 1968 (again spot) Trades today: L - 1896 m06 Stopped out : - 1904 Looking for a spot to re-enter, the trend is now up I think it will just require some patience. Volatility like this is usually...

Please ignore the comment about the head and shoulders measurement.

Higher highs and higher lows, the definition of a trend. The run up to the high on this chart became a classic blow-off top. If we were to draw a series of trend lines to contain these rising bottoms, we would find the lines demonstrated an increasing slant as the market moved into its final...

1915 spot is proving to be a tough hill to climb at this stage and I have exited my long. I think DRT is correct that we may see another run at he bottom of this down sloping channel before we move higher. My bias however, is still bullish in the intermediate term. Just need to find that...

I went long at 1896 (spot) and at 12:10 p.m I don't like the look of the price action around the 1915 area. In my world I am looking at this level as resistance at least short term. If 1915 is breached then 1945 and the key resistance at 1967 are the next targets. I am going to hold here to...

The view from here: spot Euro resistance: 1915, 1926 1945, and the key level at 1967 Support: layered from 1893 - 1875 (strong demand at 1875) If 1893 if broken, then the next support level is 1841 I will probe the long side from the 1893 level, again spot. I think from the larger...

The following is some information that I found interesting regarding volume levels in each cash currency market. It may be of interest. Central Banks - FX Structure Tokyo: 7 pm est - 3 am Average daily volume: $150 bn Tokyo is the first market to open and many large participants use it...