Buying Euro

[JSSPMK]

I see Euro as a buy right now on 240 minute chart, Long EUR/USD 1.3522, stop ~1.3440

 

[peilthetraveler]

Euro's on a downward trend right now. I wouldnt try to grab a falling knife, but who knows...you might get lucky

 

[JSSPMK]

Quote from peilthetraveler:

...you might get lucky

Not lucky, but fortunate

 

[JSSPMK]

Looking over the Monthly chart Euro is currently trading near previous resistance, buy low/sell high is present + paired with a buy pattern I see upside.

 

[Wallet]

What has changed?

Technical levels have nothing to do with the current drop in the E$.

 

[Gringinho]

Thomson Reuters IFR said they were looking for sub 1.34 6.18% fib target and then a bounce back up to low 1.40s...
I think markets are more perceptive and with Q3 numbers close - they will preemptive the bounce.

When Q3 numbers appear - especially watch EURJPY but also USDJPY - if any fear spreads to Japan, they might suffer too.

 

[JSSPMK]

Quote from Wallet:

What has changed?

Technical levels have nothing to do with the current drop in the E$.

I am using 240 minute chart as a guide here, not looking for complete reversal of current down trend.

 

[JSSPMK]

2/3 position scale out target of around 200 pips.

 

[Gringinho]

Nice +100pip spike shot in the EURUSD... Levels of >1.40 are very likely quickly.
EURJPY shot +200 ...

Approaching 1.38 now, and lots of stops were hit.

 

[Gringinho]

Angela Merkel talking to the Bundestag right now on the crisis measures. Lots of applause, but lets see the market reactions.