Eur/USD

[tacmot]

Does anyone have a strong view where EUR/USD is going over the near term?

 

[ForexPro]

Down

 

[tacmot]

I agree, my trading system is currently short so during the day we will see lower prices. Thankss for your thoughts

 

[GlobalFinancier]

BULL!
US CPI tame, housing starts down, 1.2100 critical resistance breached.

 

[Ivanovich]

Ok, but please don't all fade into the woodwork if it doesn't go down. I'd like to hear why you thought what you thought.

 

[ForexPro]

Keep the faith

 

[Ivanovich]

Really? What faith is that? I'm short the dollar on a few pairs.

Incidently, what is your stop since it just broke 1.2120?

 

[Ivanovich]

And there goes the year long downtrend line at 1.2135 (which incidently was the Fibo too). If it goes on from here, that down trend you referred to is...well...kaput.

 

[ForexPro]

Stop is 121.85 i.e. 100pips. Dont believe in Fibonnaci.

 

[Ivanovich]

I don't believe in isms. I only believe in me!

Good luck, hope that stop is not hit. I think you're safe for the moment. Might want to think about getting out from under that short in the lucky even the number comes back to your entry point.