Forums Trading discussion EURUSD Direction

EURUSD Direction

Page: 1

15/01/2012 12:51 AM

TheForexDojo User

Posts: 13
Member since: 17/10/2011

Looking at the monthly chart, it seems that EurUsd is still in a bearish trend. Fundamental analyis is in synched with technical analysis. Our team is looking at 200 ema as support (red line on the chart) around 1.2450. If more bad news comes out of Eurozone and more good news comes out of the US in the following weeks, then the support at 1.2450 will be tested with high probability. If that breaks, then we are projecting that price will reach the 50% fib retracement at 1.2135 which is our next support level. On the upside, we are looking at the 1.3050 (38.2% Fib) level as resistance.

Attachements:

18/01/2012 06:03 PM

Sasha User

Posts: 319
Member since: 16/05/2011

Hi forex dojo. By looking at ur trades in magnet account, it looks like that u r like day trading. But this analysis is on monthly chart and looks like that u r using it for position trading.. Do u have any other account with position trading style?

25/01/2012 05:57 PM

uniquetrader User

Posts: 459
Member since: 21/04/2011

Eur/Usd is going up again. But I think it will take another dive.

Trading is a discipline.

26/01/2012 06:21 PM

Jogi User

Posts: 291
Member since: 06/06/2011

Originally posted by uniquetrader
Eur/Usd is going up again. But I think it will take another dive.

Well... I think it is a short term trend. Coz we cannot see any better change in euro. In a recent article in economist, it is written that even if greece exits, it would create disastrous situation. On the other side Cameron is suggesting to resolve it by hook or by crook.

The road to success is always under construction.

Page: 1