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  1. #21
    Veteran Member uj.forex's Avatar
    Eur/usd was such a dodgy pair to trade this past week.... It stayed in range for all 4 four days except for thursday.... and even on friday it faced manipulation where selling was seen even when US data came extremely bad... bulls entered the market then but failed to close it up the Donchian band level of 1.3335.... bears won, and i cud see euro having a downward pressure for this upcoming week.... much depends on what draghi says and euro group meetings...

  2. #22
    Junior Member nick_ross's Avatar
    Quote Originally Posted by Bogdan G View Post
    1.3400 is a strong resistance level, I think it will make a double top there and it will stall to gain some more steam.On the other hand, if the level is broken in the first try, I consider that indicative of great bull strength ant price is likely to continue upwards. However, on a 4 hour chart, if price does print a double top, we will have a Class B Regular Bearish Divergence between it and RSI so a retracement is likely.

    PS: That channel doesnt really contain price so I dont have it on my charts
    That’s right Bogdan! It is possible to see a double top in the next few days, but my observations are that this formation is not very reliable in the EUR/USD pair. I also see some signs of divergence but still remain bullish as the 1.33 level is still a support.

  3. #23
    Master Member Bogdan G's Avatar
    Quote Originally Posted by nick_ross View Post
    That’s right Bogdan! It is possible to see a double top in the next few days, but my observations are that this formation is not very reliable in the EUR/USD pair. I also see some signs of divergence but still remain bullish as the 1.33 level is still a support.
    Yes, the main trend is up and a breakout from teh horizontal channel is imminent.

  4. #24
    Specialist Member marvel's Avatar
    Today it was really amazing rally in the EUR/USD early European session. When I saw it firstly it looks like the Asia range is broken and the movement is up, than suddenly it reverses and broke the range down. I was ready for a big movement but it reverses second time and I was totally confused. Terrible day..

  5. #25
    Veteran Member uj.forex's Avatar
    Alright Guys... Greece got another bailout... More bulls expected to come...

  6. #26
    Legendry Member willyw's Avatar
    Quote Originally Posted by marvel View Post
    Today it was really amazing rally in the EUR/USD early European session. When I saw it firstly it looks like the Asia range is broken and the movement is up, than suddenly it reverses and broke the range down. I was ready for a big movement but it reverses second time and I was totally confused. Terrible day..
    EUR/USD DAILY as of Wednesday, 23 January, 2013
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    The present wave patterns are:
    fast amplitude (8%): bearish wave 4
    moderate amplitude (13%): bullish wave 2
    Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.30 is increasing. The Relative Strength Index is at 58.29 in the neutral territory. The Relative Momentum Index is at 70.09 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.02, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 58.96. This value is in the neutral territory.
    Attached Images Attached Images  

  7. #27
    Senior Member LeeChang's Avatar
    1.3300 is already broken. Probably 1.3250 is a support zone but it also not sure. I am almost confident that the bull trend is temporary off now so we have to search for good opportunities to buy put options on EUR/USD.

  8. #28
    Senior Member Grae's Avatar
    Quote Originally Posted by LeeChang View Post
    1.3300 is already broken. Probably 1.3250 is a support zone but it also not sure. I am almost confident that the bull trend is temporary off now so we have to search for good opportunities to buy put options on EUR/USD.
    One thing is for sure. We can expect a lot of movement on the EURUSD going into the FOMC and NFPs this week putting in doubt hopes that the EURUSD will retain its bullish rally. At least I think not- if the USD puts in a great display. Already the USD index points to a stronger dollar.

  9. #29
    Specialist Member marvel's Avatar
    I think so Grae. The strong dollar will appear again this year. The problem is the timing of the end of the week dollar. I am not very sure that it will be now. We still have signs for Dollar loses but reasonably big retracement could start this week, probably at the end. If it didn’t start this will mean the dollar has more room for weakening in the next few months.

  10. #30
    Veteran Member uj.forex's Avatar
    As I said last week, more bulls to come... Euro up by 300 points My strategy of donchian band works

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