Sell Eur/Usd

[golhuntsleep]

Ruffen, looked at your site...we trade very similar....although I apparently do rely on wave 3 and C for MANY of my set ups more than you.....very nice results, congrats......

[rufffen]

powered, please refer to the last post in my thread, thank you!

[nomx]

LOL. what a great market as saying goes what goes up comes down heh,

[BenCapFX]

Its a great market to trade

[pinalli]

Originally Posted by BenCapFX

Its a great market to trade

GBP/USD
Today it seems the price has found itself a trend. For now there are no signs of reverse: price is below MA lines, MACD does not show any convergence. However MACD indicator is above 0 level, but tending down, which can be the indicator of a local consolidation.
If price goes above the resistance at 1.9787 it may come further to test the level at 1.9848.
If price continues to go down, its target level will be the support at 1.9645.
Movement:
- Short-term up, mid-term down
Resistance:
- 1.9787
- 1.9848
- 1.9915
Support:
- 1.9646

The impact of the yesterday's http://www.finexo.com/ news is clear in today's market. According to the news market speculations that the European Central Bank will not raise interest rates anytime soon combined with the U.S Jobs data revealing a stronger-than-expected economy have contributed to the boost of the dollar against the euro.
Strategists now await the speeches of Fed officials, including Chairman Ben Bernanke, due on Monday – will the Fed boost interest rates despite a weak economy? All eyes are on Bernanke, as the dollar is expected to slide if his speech will not support market expectations of a firm monetary policy.
Investors are also looking forward to see the Fed's outlook on balancing the risks from inflation and a weak U.S economic growth. They speculate that the Fed will keep interest rates at 2% due to concerns about the various financial sectors, yet they do expect a 0.25% rise before the end of the year.Yesterday euro eventually stabilized at a fall of 0.3%, a one-weak low, as traders await the reactivation of the U.S market following the 4th of July holiday.

For more details http://www.finexo.com/docs/tech_analysis/emc.pdf
http://www.finexo.com/calendar

[ruudboy]

Just like the title of this thread.....SELL Eur/Usd!!!!!

In fact, I am short from 1.5727 for the second time


here's my explanation why....

http://fxtrends2008.blogspot.com/

[nomx]

hmm.. lets see if gbpusd can break 1.9646 ASAP!! if not heading back to 1.9846 - 1.9900??

[rufffen]

Current steep run-up on spot gold towards recent high @ 945 makes me revisit the last scenario and revise in to the upside, since strong support is available via 3 higher lows, Id say we will take out 945 easily, spot gold futures are trading way above current prices, so Id say 960-980 is a fair estimate mid-term.

GBP USD reacts with a kind of lag to the spot gold prices, however EUR USD and the reason it keep floating above 5500 is the obviously high commod prices, so spot gold taking out recent high will likely send EUR USD towards 5880 (easily) and maybe even higher yet.

Details, refer to the chart, thanks!