i am bearish on this currency. most traders will tell you to go long because, of the actual shutdown, because dollar is showing weakness signs, because technicaly the euro still go breath to go up even with the correction made today. every trader follow his own way of thinking, of analysing price movement,etccccc. why i am bearish ? if you look at my chart the uptrend blue line was holding or doing it's job for about a month from 1.3150 until1.3640 ( (500 pips) so the correction could at least be done on the 1/3 of 500 pips, so 1.3460 is the level to watch with attention. under that level i still bearish. if a pull back occur ,must swap my direction.
the blue up trend line has been broke,with a long red beautiful candlestick with a low reached at 1.3484.
A solution for the debt ceiling will be found sooner or later ( this week or the next one) , so the downgrade must happen at least by 1.5%.
My way of seing thing might not suit many ppl but this how i work. no big explanation and no big drawning chart to sound smart. this isforex and no one got extrapower to see the future.
trade safe am short again from 1.3524.
Comments
jemi_alajmi
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Bou_zid
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Hi jemi,
judging other's chat is expression a point of view and i accept it . and ithank you for that.
for support and resistance, i ma not confortable with your way ; too many supports .
as i said, 1.3460 is crucial for me, if break , more short pressure will be well noticed elswhere, we back to 1.3580.... thank you for sharing your point of view .
trade safe.
jemi_alajmi
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i do not like to judge anyone chart with disagree :(
but i think in this chart 4H you can draw 4 trend lines or more
as you can see in the attached chart yours is NO.3
NO.1 tested more than 8 times as a resistance and as a support
NO.2 tested 3 times
NO.3 tested 3 times
NO.4 tested 2 times
i thing with NO.4 there is 50% Fib maybe it will be a support to go long to test ur trend at 1.3600
good luck :)
Bou_zid
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each one has his own style. following the crowd was never profitable. each one sees the market from his experience. wich you the best.