FOREX - Trends, Forecasts and Implications (Episode 17: July 2012) - page 351
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Didn't even open the chart... It's tempting, but it's a tough game on the Euro as well!
Sell got caught, I don't know if I should close...
Yeah, I messed up a bit.
in confidence... I'm telling you, if nothing changes tonight, there's a pivot point... so be careful about selling. Tomorrow after we get confirmation we'll be selling more upwards.
Didn't even open the chart... It's tempting, but it's a tough game on the Euro as well!
Sell got caught, I don't know if I should close...
Yeah, I messed up a bit.
I thought about not writing, but I couldn't resist. Guys, I went to the forum this weekend, read it and was stunned, no offence, but how long are you going to do the wisecracks here?)
It's like a fortune-telling forum, gypsies and other fortune-tellers at rest.
The picture this morning:
Contract level at 1.2280, same as last week, current week's trade at 1.2095. At the moment there are buying at 1.2060 and 1.2070, there are trying to sell the current one at 1.2095, we will see what happens, we will not guess, we will see.
Soothsayers, when will you learn something?
This is an illusion.
Honestly, there's not much to talk about at all. First, the Eurodollar is trading in the lows of 1.21 and has already tasted blood in the 1.20 big figure. In that light, buying is as stupid as selling is scary. It's just that experience has shown that in the 1st figure you shouldn't mess around with positions at all. Secondly, it goes to the nearest daily target of 1.19. Thirdly, it's not news. And everyone else is tracking it as a barometer of European problems that affect the rest of the world. And on the mood of the markets. Everyone is watching the eura, and the fund, and the fx, and the commode. And the Dow Jones, and the N225, and the Shanghai Composite. Yesterday the Greek and Latin funds rattled all bones, with over six percentage points losses in the Spanish and Greek indices. As the market was saying, a little bit of Greece and a lot of Spain. What I also want to mention is the harshness of Azumi's comments, they might intervene. I am still waiting for the kiwi, in case anyone keeps the shorts, because the daily uncline has to be broken through. There is no other way around it. The euras is trading the second day below the closing price of the week at 2158 and the kiwi is one cent lower, but is stomping right on the non-cline, getting used to it, getting used to it, not bouncing far...
This week's trade has been shifted to 1.2090, 5 pips down, which means that today the most
high volumes during the week. A reminder - the contract level is 1.2280.
The Euro/Dollar important levels are: 1.2215, 1.2193, 1.2149, 1.2039, 1.2012 and 1.1957. Here we expect a short-term downward movement in the corridor 1.2039 - 1.2012, breakdown of the last one should be followed by a pronounced downward movement, in this case the target is 1.1957, on reaching this level we expect a pullback to the top. The level of 1.2149 is a key support for the downside pattern of July 19, its breakdown will trigger an upward movement, in this case the target is 1.2193. The range of 1.2193 - 1.2215 is a noise one.
Trading recommendations:
Buy: 1.2150 Take profit: 1.2190
Sell: 1.2039 Take profit: 1.2014
Sell: 1.2010 Take profit: 1.1960