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EUR/USD Support - Resistance


Gyverd

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Re: EUR/USD Support - Resistance

 

I am also new but I have been watching EUR/USD as my favourite pair for some time now.

 

What I find interesting is what seems to boil up?!

 

Has anyone noticed that in summertime currencies like EUR/USD seem to range (around 300-500 pips range about 3-5 times touching the range bottom and top)

Now when is this years range over? The EUR/USD touched several times the 1.43 lately and fals brokeit last week, does that mean it is doomed for a short direction like some websites claim?

 

For me the way they draw the trendlines is not how I would do it. On my charting technique the fals brakeout claimed is in fact a clear brakeout with a retesting of the trendline before we head higher.

 

From what I would see is next week a clear brake of the 1.43 and then a move within the next weeks to the next resistance at around 1.47.

Time will tell 8-)

Especially interesting for the moment is the fundamental AND technical view on EUR/USD!

Can the trillions of money pured into the market by the FED been taken out in time?

Can the Chinese hold up to patience and not make the dollar fail?

Will the Goldprice resists the 1000USD barrier?

(Hey sorry for the sidetrack to fundamentals but I am a strong beliver in the combination of the two viewpoints)

 

So what do others see in the glassball?

Joe

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  • 3 weeks later...

Re: EUR/USD Support - Resistance

 

H4 graph

The pair keeps trading along a sideways trend (“O-O+”) between two key levels – 1.4390 (a very strong resistance) and 1.4215 (turning level). This trend is transforming into a “triangle” figure, which is being formed now and has its top at level 1.4425, where the 4th wave of this figure is supposed to emerge. Basically, we may consider the figure as such that will turn the sideways trend either upwards or downwards, so we should take the levels into consideration anyway.

 

There are two variants of events to proceed:

1. If the pair breaks above level 1.4425, the “triangle” figure may be treated as an uptrend-continuing figure. This way, the market sets the target of growth to level 1.4580. However, there is a very strong resistance on the way up – level 1.4500 (the higher boundary of “C-C+” sideways trend weekly). So, we may try to open buy positions above 1.4425, then it is necessary to close them right before approaching 1.4500 and buy additionally only upon break above ~1.4545.

 

2. The “triangle” figure is becoming the figure bearing a downtrend in case the pair breaks below level 1.4215 (gets below “B” and “O” trend lines); in such case the pair will get to essential support 1.4085 (“P” trend lines).

Personal prejudice:

I wouldn’t trade for buying while the pair is located above level 1.4545, since there are a whole lot of important resistances, which won’t let the market to pass them easily – the market is going to twitch. It is more secure to sell after drop below level 1.4215 with the target set to 1.4085

 

http://forexmillion.com/uploads/posts/1251791818_eu4.gif

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  • 2 weeks later...

Re: EUR/USD Support - Resistance

 

Here's my feeling on this subject.

 

EURUSD Weekly Chart:

http://i29.tinypic.com/2q1xvyt.jpg

 

If we see this week close above the 1.4150 resistance area then there is room to go up to the next resistance on the weekly to 1.4650. Dropping down to the daily chart you can see that a higher high was created indicating another attempt at breaking resistance.

 

Bottom line for me is there is a good chance of that we will continue the trend upward however if a pinbar forms then we are headed down.

 

Hope that helps :)

 

Nice chart...can you post the indics you used in your chart??...thanks bro...

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  • 4 weeks later...

Re: EUR/USD Support - Resistance

 

PENSIUN :p

[spoiler=stttttt... hey You .. YES you ... let tell me you A SECRET ... click here ... yeah ... click on this button ] II Vocabulary that you should know:

PLON=it mean someting that really bad ... REEEELY BAD like a BLOOD sucker stuff ...

CEMPLON= the PRODUCER OF SOMETHING THAT CLAIM GOOD but IT IS NOT ... and WASTED all YOUR MONEY!

---- make sure Oxford or Cambridge knows it ...--- K =D>

 

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Re: EUR/USD Support - Resistance

 

Saya Trader Forex; Menurut Saya meski cara2 penentuan Support & Resistance tidak jauh berbeda, tetapi masing2 instrument memiliki ciri2 khas yg unik, oleh krn itu dibutuhkan jam terbang yg cukup lama pada instrument2 ybs.

 

Khusus HSI, coba tanyakan ke Bro SEFC, sepengetahuan Saya Beliau menguasai HSI juga, kalo Saya cuma di Forex saja, Mohon maaf sebelumya.

 

Semoga informasi ini dapat bermanfaat.

 

 

:)

Adamentium Trader Origin's
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