EUR/USD - Are We Due For a Tumble to $1.20?

[DrawDown]

Quote from Pabst:

As you know Coinzie I rarely trade FX but my thoughts haven't changed since late '04. The dollar low is in.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=43579&highlight=dollar+japan

I'll read over your thread, Pabst, but, briefly, when you say, "The dollar low is in," you mean the USD is headed higher?

Or lower?

 

[Pabst]

Quote from DrawDown:

I'll read over your thread, Pabst, but, briefly, when you say, "The dollar low is in," you mean the USD is headed higher?

Or lower?

Use your considerable intelligence. If the low is in that means higher, eh? Dollar low in = Dollar goes higher means EUR goes down.

 

[nkhoi]

could go back to 1.80

 

[DrawDown]

Quote from Pabst:

Use your considerable intelligence. If the low is in that means higher, eh? Dollar low in = Dollar goes higher means EUR goes down.

Then, you're agreeing... we're headed towards $1.20...?

 

[forexisland]

your chart looks nothing like mine

 

[Jackjones]

<img src="http://daemos.ath.cx/stuff/06/eurojuly01.png">

maybe a probe of 2700-2730 first

 

[psycho-analitix]

Quote from Jackjones:

[B
maybe a probe of 2700-2730 first [/B]

will be interesting to see if it goes much higher, probabilities are stacked against that but then hey, the market can stay irrational longer than a trader can stay solvent.

 

[sim03]

Quote from DrawDown:

"no clue what your chart represents."

Um... then let me explain it.

Ya see, the trendline on the left goes UP... the trendline on the right goes DOWN... the trendlines at the bottom mark off the area around $1.20.

"can't i just as easily say there's support at 1.25 and it's going to 1.30."

You could... it's just not as dramatic. ;-)

Those 5 solid white lines on your chart are not trendlines. An UP trendline connects (higher) lows, not highs. A DOWN trendline connects (lower) highs, not lows.

The horizontal lines at the bottom are not trendlines, either, nor are they support or resistance. Other than representing a round number 7 handles away, those horizontal lines have no apparent meaning.

 

[DrawDown]

Quote from sim03:

Those 5 solid white lines on your chart are not trendlines. An UP trendline connects (higher) lows, not highs. A DOWN trendline connects (lower) highs, not lows.

The horizontal lines at the bottom are not trendlines, either, nor are they support or resistance. Other than representing a round number 7 handles away, those horizontal lines have no apparent meaning.

follow the white brick trendlines..

 

[DrawDown]

Quote from Jackjones:

<img src="http://daemos.ath.cx/stuff/06/eurojuly01.png">

maybe a probe of 2700-2730 first

still looks like downward pressures coming, to me..