JoMarshall
Long

Going Long On The EURUSD

FX:EURUSD   Euro Fx/U.S. Dollar
This is a trade that i will be keeping a close eye on, i will be looking for the market to come down to 1.0800-1.0820 before taking a long position. We have a risk to reward ratio of almost 2:1 and we have a 382. retracement falling on a major support structure and usually when we have a 382 retracement the ABCD pattern comes to mind and 1 to 1 harmonic move of this pattern will terminate exactly where the bat pattern completes, that area happens to also be a major resistant level. So in terms of structure, this is as good as it gets.

Watch my weekly video to see my in depth analysis on this pair as well as the GBPUSD             .

https://www.youtube.com/watch?v=FlS2NeSQ3fI

http://www.tradewithme.co.uk

Structure: How to make money in the forex market (must watch)

https://www.youtube.com/watch?v=-g93fXLaDyE
Nice technical analysis
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Thank bro!
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Nice one bro, what price should i buy at? thanks
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JoMarshall chiroma
I can't give you a specific price but anywhere between 1.0800-1.0820 is a good place to buy
+1 Reply
susanfx JoMarshall
I am also looking same movement.
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JoMarshall susanfx
Good! Let's see if the market can give us what we expect
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Absolutely agree. The 1.0800 - 1.0820 area could be a very good entry point
snapshot
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Thanks according to levels that is very good idea.
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JoMarshall SyedAnwerSyed
You're welcome. Let's hope the market gets there on monday or so
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Agree, I have a similar view
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@Jo great setup here man :)
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Thanks bro, we'll see if the market does what we expect.
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thanks Jo looking forward to this!
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JoMarshall lhanrhen
You're welcome bro.
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nice one
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Thanks bro
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This is nice. Good work Jo. I have some reinforcing analysis.
EURUSD LONG
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JoMarshall WaveAlchemy
Nice chart, let's hope we get that drop into our buy zone. Thanks for sharing bro.
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I'm long already, I don't think it will hit that level again...
+1 Reply
JoMarshall IvanLabrie
Yeah we might get a brief rally from this point as it is 382 retracement and RSi is oversold but I still expect it to touch 1.0800-1.0820, but we'll see
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IvanLabrie PRO JoMarshall
Yep, wait and see.
Cheers!
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I do not agree with you for the way I see euro / dollar will continue falling

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You do not have to agree with me. I trade what I see and structure tells me it will go up and if doesn't then I'll take my loss with a pinch of salt and move on to the next trade. You can't win every single trade. So we'll see what happens
+3 Reply
jhakas JoMarshall
nice
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Hi JoMarshall, Do you see 1.1100 levels as target price ,once you would enter into long trade at EURUSD ? Wonder what would happen on jan 21st for Eur/usd. By the way I trade with http://www.nseindia.com and usually Eur/Inr futures . As our market time is limited I have to trade Intraday and Sometimes I hold onto positions. Usually Eur/inr futures say Jan (2016) mimics Eur/usd.
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Yes I think we will see 1.1100 but I don't know when but if we don't break 1.0800 in the next 2 days then we might see 1.1100 a lot sooner than you think.
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SSSDEV JoMarshall
That is right JoMarshall, I understand , But then Where would you forecast Euro/Usd say Jan 21st. Draghi always surprises with his less than dovish statements and we could have a fast rally Eur/Usd. By the way 1.0800 breaks now
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That's not a question I can answer I'm afraid because I don't trade using fundamentals but whatever happens with Draghi's speech I still expect to EURUSD to continue it's recovery based on structure. So we might get a temporary negative affect after Draghi's speech or it might be the fuel EURUSD needs to speed up the recovery.....nevertheless I'm staying long. Yeah indeed we have broken 1.0800, we'll if the break will be sustained
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SSSDEV JoMarshall
Thanks Jo, I appreciate your time and the effort taken to answer my queries. You are long too . I too am long Eur/inr but predictions sometimes mean nothing much , but I see 1.1100 levels coming thru.
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Nice Jo!!
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