FX Majors- Trends and Levels Discussions
Main interest of group members is in correct understanding of the latest trends in FX. So, why not different members share the diverse views on live markets for any movement worth noting.
EUR/USD @ 1.4172 on March 18th, 2011Euro is in strong uptrend and the targets are 1.4250, 1.4750, 1.5300 zones (subject to each level being broken decisively by 100-200 pips).Dollar Index @ 75.70It is still continuing in strong downtrend. Though in latest short term upward correction I was wondering if medium term upward correction has started. Key downside targets are 75.36 and 73.9 Any possible medium term upward correction is likely to start from either of these two levels.
EUR/USD made a high of 1.4248 & Dollar Index made a low of 75.249
– March 23rd, 2011
Both the targets given in previous post were met and we have seen correction from there. Will like to watch if this leads to short or medium term correction.
I hear so many comments as to what is the importance of Dollar Index direction!! Now, last 2 days’ volatility and short/medium term corrections are a result of this catching of Dollar Index bottom!!! I don’t say that having reached the target a reverse position is to be initiated, but we get a good confirmation of possible reversal with chance to have a close SL as well as closer trailing SL for old positions.
Dollar Index @ 76.381Latest high of 76.399 was the short term upside target after reaching crucial downside target of 75.249. Only if DX keeps going up above 76.399, it will increase possibility of upward correction extending into a medium term uptrend. EUR/USD @ 1.4054, GBP/USD @ 1.6021
EUR/USD @ 1.4818 Today’s high of 1.4882 was a key target at least for medium term.
EUR/USD @ 1.48212 and already hit 0.382 Fib. I already set up my trade to buy at this level Wave IV heading to 1.500 price target.
EUR/USD @ 1.4863
if the long term uptrend continues with or without correction, then my targets are 1.5200 or 1.5400 (higher chance for latter target)
major trends is full of motives and corrective waves. I sat my target @ 1.49720 now as a first target. I will do another target set up next week accordingly.
I see Euro at 1.50 and Sterling at 1.70 and valuation of Yuan at 6.3 . Now more and more people in the world are accepting the great level of Debt by US like $ 14 Trillion hence valuation of Euro and Sterling will rise …, US is at the brink of the collapse since they have accumulated more debt than GDP
What is for the coming week. I will focus on EUR/USD and GBP/USD as well as AUD/USD. I will wait for a breakout in EUR/USD @ 1.48784 to go long and target 1.5000. A break out also in GBP/USD @ 1.6750 upward and Target is open. I am already long AUD/USD targeting 1.10400. Wish a good trade for everyone next week.
EUR/USD @ 1.4792 2nd May, 2011
EUR/USD has 90% chance of reversal for medium term from latest high of 1.4882(reached on 28th April). A close SL of 1.4950 or max. 1.5000 can be used. This clarification is with reference to two of my earlier posts of 28th April and 30th April, 2011. Those two posts have been copied below again –
1 EUR/USD @ 1.4818 Today’s high of 1.4882 was a key target at least for medium term.
2 EUR/USD @ 1.4863
Fadi, if the long term uptrend continues with or without correction, then my targets are 1.5200 or 1.5400 (higher chance for latter target)
US$ went up a little because of Bin Laden death announcement. I think the EUR/USD will continue to rise as in wave III up to 1.5180 before it falls for IV. I think the final destination for EUR/USD wave V will be near 1.5700.
3 months ago
I have only one open position for the moment:
Long NZD/USD from 0.8000
stop at 0.7900
Limit at 0.8200
Currently===> +68 PIPs
I just stepped out of the market for the time being after Dollar appreciate in value by 4% due to Osama Bin Ladin death announcement. I will wait for more information to flow in in order to take my position in the market.
I now post my TRADING ALERTS
into my personal FACEBOOK ACCOUNT
. Don't worry as I don't post stupid cat videos or what I eat!