Euro/$---GBP/$ Where now?

currently being discussed (& traded) in the FX chat room N...pop in & have a peek........ :D
 
go to the 'home page'.....to the right of the bull motif you'll see trader rooms/live chat.....click on that & follow the instructions....... :D

click on 'who's online' & enter from there.
 
Hi all, hope your trades are going well, my trading activities have been pretty quiet. Goodluck with the research Hammer.

I think we may be looking at the start of renewed upward action. Lets c what Greenspan says! :rolleyes:
 
Still traped in whipsaw range with the euro, the longer it takes to get an upside break only signifies that 118 could be seen before sustained upward action.

Lets c :rolleyes:
 
From FXCM latest GB£

[FXCM GBP/USD COMMENTS]
The reversal of rate hike expectations continued to fuel gains in the British pound. The latest release from NTC Research supports the bullish growth forecasts revealed by Chancellor Brown last week. NTC Research, which is a private economic research institute, reports that its UK Leading Indicator posted a reading of 101.3, which is the highest level for the index since July 2002. This is the tenth consecutive month that the index has been improving, which according to the NTC, suggests that the UK economy is set to strengthen throughout 2004. There are five components in the index, which includes new housing starts, new car registrations, money supply data, consumer credit figures, job vacancy ads and equity price movements. The biggest contribution to the gains in February came from a sharp surge in new car registrations, which the NTC says reflects "the continued willingness amongst consumers to make significant credit purchases." Household spending remains one of the MPC's most significant concerns, which means that today's data supports the market's expectations for a rate hike in April or May.





[IFRMARKETS GBP/USD COMMENTS]
[20:57 GMT March 22] Cable rallied to 1.8490/00 over the US session as
geopolitical concerns rose in the wake of the Israeli killing of a Hamas leader.
However, semi-official selling capped both Cable and EUR/USD with Sterling
retreating to 1.8462/67 but still near the highest levels in two weeks. A
hawkish outlook on UK interest rates from Ernst & Young's Item Club in the
Sunday Times is helping underpin the pair.
1.8525 provides a bull target, with the level marking a 50% Fibo retracement
point of the fall from 1.9140 (Feb 18 high) to 1.7910 (March 12 low). Support is
pegged at 1.8400 (last Thursday's high) and 1.8370 (last Friday's high). EUR/GBP
remains heavy, easing to 0.6675 with yield expectations a factor, but some
dealers note disenchantment with the EUR growing and weighing on the cross.
UK event risks, which may impact the pound over the course of this week
include Wednesday's budget testimony to a Treasury Select Committee by
Chancellor Brown, and Thursday's explanation of last month's quarterly inflation
report by MPC members, including BoE Governor King. --(rs)
 
Had a good profit of 114points on GBP on Friday. Not bad, but still hard to trade the moves as the 'doubt' in the forex GBP and EURO is about direction. Clarity is needed!

Still Good for intraday trading as little profits can be made here n there.


Euro: Sutained break above 12400/12450 will signify further solid upside moves however 12000 is downside, a break of which will fall towards 11800.

How are the rest of us getting along?

Goodluck all...
 
This thread has been a little neglected lately. I will try and update a little more regularly. I've posted a chart of Eur/usd: It appears to me, as a little dollar rally will start again. The question is, will it be the start of something? Or will it be short-lived? Also notice on the chart of Euro posted below that the 200 MA is catching up with the price action and this will be interesting as to if the MA will provide support for the euro or could it signify the end of a trend. Bear in mind the last major dip on the Euro was in end of August when the 200-day moving average provided great support, which then resulted in a fresh rally.
 

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Well as suggested the Euro dipped lower. 120 provided solid support. The Euro now sitting above 12010. Expect more fighting with 12000 tomarrow. It also formed a new yearly low. So all is pointing to downside movement. I wouldn't be wrong to suggest 11800 could well be hit in the short term.

The price action is also moving close to 200day moving average, and well the last time it hit the 200 day the euro went up to form new highs. Interesting as 118 is also the KEY support area and also where the 200 day average will meet.

Should it break below 11800 on a solid break lower then that could well be a trend change. Should it hold and we could well be on our way up again.

Shorted GBP and EUR today gained over 150points. Currently no positions, but looking to get back into short on euro.

Updated thread: as requested ;)
 
Took a 60point loss on Euro yesterday got caught as profit taking was under way. Euro rallied yesterday aiming towards 12100.

Short again now targeting 12000 region

GBP rose yesterday around 2cents as expections for a rate rise tomarrow are getting greater.

Currently Euro at 12094, facing resistance at 12100.
 
Hello USER,

i feel euro - usd will next cupple of days bullish range 1.3100 - 1.3750,next strang resist 1.3750 levels.
 
28 Jan 2009 (AVAFX)

EUR/USD intraday: the upside prevails.
Pivot: 1.3125.
Our Preference: LONG positions @ 1.3135 with targets @ 1.333 & 1.345.
Alternative scenario: The downside penetration of 1.3125 will call for a slide towards 1.304 & 1.296.
Comment: the RSI is bullish, the pair is on the upside and is challenging its LT declining trend line.
Trend: ST Consolidation; MT Bearish

GBP/USD intraday: continuation of the rebound.
Pivot: 1.4105.
Our Preference: LONG positions @ 1.4115 with 1.44 & 1.455 in sight.
Alternative scenario: The downside breakout of 1.4105 will open the way to 1.4015 & 1.3935.
Comment: the RSI is supported by a rising trend line, the pair stands above its new support and remains well directed.
Trend: ST Ltd Downside; MT Bearish
 
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