Daily EUR/USD trades

tacmot · Dec 14, 2006

Stop out of Long EUR/USD at 1.3190, -37 pips, tacmot

Ivanovich · Dec 14, 2006

Quote from WaveMaster:

The Move Is Down From 1.3250

And where is the projected completion?

tacmot · Dec 14, 2006

Long EUR/USD at 1.3173, target 1.3240, stop 1.3140, tacmot

Colombo · Dec 14, 2006

How much lower do they want to take this thing???? Overall trend is UP.... and will be for a while.

38.2% was hit, Central Bank Diversification, Divergence of Int. Rates, Oil Exporters requesting EUROs in exchange of USD, busy M&A all over Europe, Cable is on a tear.... etc, etc, etc, ...somebody's gonna get handed a hot potato here.

PS: That H&S on the EUR/USD just ended in a doji... looks weak, ... more like one of those infamous... "H&S continuations", we've all seen those...

Powder is dry... looking for the next train up. Tomorrow's headline although important, probobly won't debunk this trend.

Good luck gents...

Buy1Sell2 · Dec 14, 2006

Pulbacks are necessary in any market so that we can get fresh reaction lows/highs. Long term, I don't see any need to get out of my longs just yet.

Buy1Sell2 · Dec 14, 2006

I would like the divergence that is present on the 1o minute chart to work it's way onto the 60 minute chart--that would be neato keen.

romik · Dec 14, 2006

Quote from Buy1Sell2:

I would like the divergence that is present on the 1o minute chart to work it's way onto the 60 minute chart--that would be neato keen.

What is your opinion of the daily chart? There is a failure swing there, seems to be the opposite to how USD/JPY looks. That bothers me, a lot.

Buy1Sell2 · Dec 14, 2006

Quote from romik:

What is your opinion of the daily chart? There is a failure swing there, seems to be the opposite to how USD/JPY looks. That bothers me, a lot.

At the moment, I do not believe it to be all out reversal. The failure swing is there, but we are coming off of an extremely overblown run and this is to be expected. I think overall we are still in a longer uptrend and are most likely creating a new reaction low. We'll see. I am quite a bit in the black, so I will be waiting it out and perhaps adding long when I can to push it. That is until the weekly rolls over---

illiquid · Dec 14, 2006

Quote from Buy1Sell2:

Pulbacks are necessary in any market so that we can get fresh reaction lows/highs. Long term, I don't see any need to get out of my longs just yet.

This feels like a little more than the garden variety pull back to me, same with the bonds.

romik · Dec 14, 2006

Quote from illiquid:

This feels like a little more than the garden variety pull back to me, same with the bonds.

I may be wrong, but my initial thoughts may still be correct. I've researched quite a few divergences and in the case of USD/JPY it is working according to plan, perhaps until USD/JPY completes an estimated move towards 118.40 and then weekly kicks in, not going to argue with B1S2 on his analyses on JPY, only then EUR/USD continues its weekly uptrend. Of course this is just the way I see it.