How to trade the EUR now

Quote from elisab:

The 85 days moving average of 1.317 sends EurUsd back while the 200 days moving average rises up to 1.292. The exit from this range will outline the next months trend.
More...
nice chart? Man, I don't know how to read it. Looks complicated

I know, for those of us that are short, 100 pips yesterday in our favor, and so far today only 30 pips pull back against us

my guess, people like this 1.30-1.31, a place where a guy can do some business

there seems to be no appetite in USA to trash usd

long or short, it doesn't matter to me, but I certainly wouldn't want to be trading with tight stops

when eur.usd gets directionless, it becomes like a little pac man, and just hunts for any stops out there, both up and down
 
Quote from oldtime:when eur.usd gets directionless, it becomes like a little pac man, and just hunts for any stops out there, both up and down [/B]
More...

Put your old school hat on and think about how many guys get trapped on a break and hold of 1.3100 this afternoon or into the Euro session. Some really thick Market Profile/ACD resistance right in the area where we are currently trading, 12:46 CT. I started getting long for a 6-16 hour trade and am going to risk it down to the middle of the Opening range around 1.3050. Of course a break back through the OR could lead to a real rout into tommorrow :)
 
Quote from FJMcC:

Put your old school hat on and think about how many guys get trapped on a break and hold of 1.3100 this afternoon or into the Euro session. Some really thick Market Profile/ACD resistance right in the area where we are currently trading, 12:46 CT. I started getting long for a 6-16 hour trade and am going to risk it down to the middle of the Opening range around 1.3050. Of course a break back through the OR could lead to a real rout into tommorrow :)
More...
I hear ya

this is where you short term guys make your bread and butter

and us long term guys just get older
 
The announcement of the Bundesbank concerning the approval of the cut of the interest rates in Europe might favour a fall of EurUsd to 1.29. The bearish engulfing pattern of yesterday is the confirmation.
 
Quote from oldtime:

nice chart? Man, I don't know how to read it. Looks complicated

I know, for those of us that are short, 100 pips yesterday in our favor, and so far today only 30 pips pull back against us

my guess, people like this 1.30-1.31, a place where a guy can do some business

there seems to be no appetite in USA to trash usd

long or short, it doesn't matter to me, but I certainly wouldn't want to be trading with tight stops

when eur.usd gets directionless, it becomes like a little pac man, and just hunts for any stops out there, both up and down
More...

This is fun. First the EURUSD falls and you make your money, and than it goes back up and I make mine. Hope you took your profits and didn't add to your short. :D
 
The gravestone doji of Friday might indicate a tight weekly opening for EurUsd. We'll see if it is the right time to get out of range.
 

Attachments

Quote from elisab:

The Index Dollar might head the resistance of 86 if, in my opinion, the top of 2012, 83.60, will be overcome.
More...
hard to read that dollar. 83 has been very solid. After that, things stop working in the USA. Reminds me a lot of crude oil. After $100 demand destruction sets in.

But you know, we are in a Brave New World.

How much is a dollar worth? How much is a barrel of crude worth? How much is an ounce of gold worth?

and if you give me a number, aren't you just telling me how much a Dollar is worth?

I've been making my bread and butter on the 78 to 83 range, but it's been a while since I have made any bread, let alone butter
 
You must log in or register to reply here.
Back
Top