EUR/USD: Down Leg (May 3, 2009) 9:13PM

7:25AM: EUR/USD touched 1.3225.

120PIPS in the green! Asia session traders got the shaft.

Thanks for the best wishes guys. I won this battle.

Nailing the top: priceless


:p
 
Quote from riskfreetrading:

After the nice profits I took this morning, I am re-entering again.

11:07AM: shorting EUR/USD at 1.3375 area.
More...

Huge divergence on shorter timeframes. Should fall from here.
 
Quote from riskfreetrading:

7:25AM: EUR/USD touched 1.3225.

120PIPS in the green! Asia session traders got the shaft.

Thanks for the best wishes guys. I won this battle.

Nailing the top: priceless


:p
More...

Riskfreetrading,
What trading time frame are you trading the Euro in? I went short on the Eur/USD in the H4 time frame and the it's been shooting up in the opposite direction like a rocket. Currently at 1.3356. Big loser on this one.

I think it's because of the Pending Home Sales m/m news for the USD. It turned out to be 3.2% instead of the forecasted 0.1% shown in Forex Factory.
 
I have 2 long term downtrend lines drawn on my chart. Price is right between them and consolidating. In addition, there are 2 horizontal resistance lines at 3330 and 3300. Currently, price is above these 2 levels and they may become support. Who knows. Still, price has penetrated but not broken through a zone of resistance.

Odds favor a continued long term downtrend from a purely technical standpoint.
 
Quote from stevegee58:

I have 2 long term downtrend lines drawn on my chart. Price is right between them and consolidating. In addition, there are 2 horizontal resistance lines at 3330 and 3300. Currently, price is above these 2 levels and they may become support. Who knows. Still, price has penetrated but not broken through a zone of resistance.

Odds favor a continued long term downtrend from a purely technical standpoint.
More...
good to hear!

i'm short let's go.
 
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