Euro Currency Futures 2006

Thursday evening, Jan 26th

EURO FX (EC)

Well...things are looking a little better, albeit not great and there is a fight ahead. Price is at 1.2229 and slamming into some key support areas. Could pop out of here and move up a little. I have moved back to being down 69 ticks per contract.

I would not be surprised to see price take a move back to the topside one more time. If this does occur then I have the 1.2320 area containing it. What I would really like thru the current level is to see an unbelievable GDP number to propel things thru all the key support areas clustered just below. This is likely wishful thinking at this point.

My long term conviction is still solidly lower. The first test will be just below 1.10. If we get thru here then my exit will be

EURUSD = 1.0000


For Tommorrow....

The dollar index needs to close above 89. 13 or so and I will be very bullish near term. It's making a nice run so far.

The USDCAD position is acting a bit "loonie" and I wish I could buy more but I am loaded up.

USDJPY has performed just as expected and will be running up thru 118 near term. Then on to 145.

Gold is setting up for the big move down just nicely. Heading into the mid 400's.

Crude is headed for the 40's.

And hey, that little bounce in the indexes is making progress. The big down volume was the clue. I would also take a close look at the bond chart...I think there may be a good long term short trade that could help make a lot of people wealthy in the near future.

I love this country and I will stand behind her, and guide her and have faith in her ability. At least until my stop gets hit, but for now I am fully loaded for wealth creation.

You have to see that this is just a pullback in the downtrend. Just think about it. It's not hard to see.:p

Good luck everybody.
DRT
 
triple bearish divergence on daily chart so far holding up. Luckily I was able to get out of my longs with just a few ticks lost that were probably not smart to have even been in the longs trying to play the pullbacks
 
Hello,

I have been reading here for a few weeks and I just wanted to say hi before I jump in.

Anyway looks like Euro Fx is starting a nice uptrend and this pullback seem like a good buying opportunity.

Long at 1.2157 with a stop at 1.2095. It seems the weekly chart is just starting an uptrend, and the Daily looks good.

Where did you see the triple bearish divergence in the daily?

Regards
Steve
 
peaks on the macd histogram on 12/16 01/06 and 01/25 are successively lower while new highs were being set around those times.
 
bulls and bears are meeting here at the 20 day MA which is of course as you have done, a good place to buy the pullback.
it will be interesting to see if the bears can break the trendline this time. In any event, the divergence occurred with the price at 122.91 and so bears have tidy profit. I am short the 126 calls, so I haven't totally missed the move. I will be looking for bullish divergence on hourly charts before getting long. By the way, one may be setting up as we speak
 
I just double checked my chart and checked those days. I am using the standard MACD Histogram. I have successive higher peaks on the MACD histogram that correspond to the new highs.

That is very odd.

I am using Metastock with the Daily charts.
 
You must log in or register to reply here.
Back
Top