Stumbling the EURUSD legs by the hour

FX:EURUSD   Euro / U.S. Dollar
Oh yeah - I was dead wrong on the short term price action.
Bash me! :-) Well, one cannot be right too often :) . The upward price pressure was certainly more fierce than I anticipated. That did hurt my account too. "Yes, I feel you pain."

As a result, the diagional triangle is gone. The 1.140/1.144 level presents a horizontal barrier.

Nontheless, not much has changed on the EUR USD :
- the overbought and/or almost overbought levels the RSI have not given any clue to a continued bull trend. It simply gyrates between overbought and oversold. This is typical for a period of RANGING price action.
- I'm still suspicious about this EURUSD             thing
- Yes, it can break to the upside, but looking at larger swings (4 hour & daily) it "feels" a better ebb & flow if at least one down wave develops now (but this is not particularly scientific in nature :-)
- We've got pretty solid support levels present: currently testing an upward sloping trendline-in-the-making, then the 1.1180 level (red support area ), then the 1.1070 level (green support area ) .
- It's bad that despite all the "good" Greece news, the 1.14 level ONCE AGAIN turned out to be too hard to break That is a longer term negative for the EURUSD             .

I'm still sitting on my short position, but will close it at the aforementioned levels - to see what happens from there - unless we get a great heavy spike down; of course I wouldn't mind that :)
Closed short at 1.1160 level, since retracement towards 1.1050 prior to Greece-deal did not materialize.

Just before closing of NY market, BOLDLY ;-) anticipating some Greece deal, I reversed.
So yes - John Law and his balls are LONG @ 1.1160
Large mental SL (@ 1.1050)
TP on surge @ 1.1350-1.1400

Let's see where Greece and the EU take the market. In any case it's going to be educational :)
See you at the other side of the weekend !
This thing doesn't show much strength and looks to be heading down already.
-the quick long closed at 1.1210 for a small profit
-reversed & short , anticipating 1.1050 (TP)
Covered my short at 1.117

Reversed, now LONG, meant as a reverse-to-mean trade.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out