[Archive!] FOREX - Trends, Forecasts & Consequences (Episode 12: February 2012) - page 692
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Where did you come from?
sold 1.3380
averaged 1.3325
Target is b/w 1.3350, and then we will see.
In general, it's time to go south.
Let's repeat on January 4 - a similar picture
the devil is in the details)))
such and not such))))
The single currency reached 1.3343 in European trading on Thursday. Even before the opening of the European session the EUR/USD broke out of the tight 1.3260-1.3216 range that had developed over the past two days and dragged other major pairs along with it. EURUSD accelerated to 1.3343 following the release of the IFO report. The IFO publication had a positive effect on the single currency, allowing buyers to clear the zone to 1.3350. The Euro bulls felt confident as they drew additional strength from the EURGBP cross rate rise. Above 1.33 new market participants joined.
From the specified level the pullback started. The pullback was deep, to 1,3269, as the European Commission frightened the Euro bulls, who immediately started to take profits. The European Commission on Thursday published a preliminary assessment of the Eurozone development.
According to the European Commission, the European economy will shrink by 0.3% in 2012 amid recession in Italy and Spain. The EC forecasts Italy's economy to shrink by 1.3% in 2012 against expectations of a 0.1% growth and Spain's economy to grow by 1%. Also the economic growth of Portugal, Germany, Ireland and France was downgraded. The European Commission also raised the inflation forecast for 2012 from 1.7% to 2.1%.
As you can see, after the pullback to 1.3269 and the closing of the European session the pair set a new high of 1.3377. It was a reaction to the news that on Thursday the Greek parliament approved the law on implementation of the 100 billion euro debt forgiveness.
On the daily forecast I have a target around 1,3450. On Friday, according to the hourly chart, I consider the target at 1.3420, but I want to warn right away, there are negative factors that point to a deep pullback. That is that the price is trading at the U3 line and there are three consecutive tops on the AO. This literally EURUSD will draw a divergence and could go to the Lb line at 1.3320. If buying activity is high, the pattern could extend to a double divergence and then go for a pullback. In the European session the GDP reports will be released. Since the European Commission has already painted a gloomy picture about the EU and revised the economic growth downwards, the negative data should not have a strong impact on the buyers.
So what I am saying is... The eu can't go up on 100bn being written off by greece when the economy is going down. Anyway, there is a bull trap here. Who needs an expensive eu and an inexpensive quid for now. That's why I'm salting on a regular basis. I'm sure we'll end up flying very low. Only for how long, I don't know.
If yesterday's quotes are to be believed, then in my opinion it would be somewhere like this! IMHO! I could be wrong!
On Thursday the single currency reached the level of 1,3343 during the European trading. Even before the opening of the European session EUR/USD broke out of its narrow 1.3260-1.3216 range, which was formed over the last two days and dragged other major pairs along with it. EURUSD accelerated to 1.3343 following the release of the IFO report. The IFO publication had a positive effect on the single currency, allowing buyers to clear the zone to 1.3350. The Euro bulls felt confident as they drew additional strength from the EURGBP cross rate rise. Above 1.33 new market participants joined.
From the specified level the pullback started. The pullback was deep, to 1,3269, as European Commission frightened the Euro bulls, who immediately started to take profits. The European Commission on Thursday published a preliminary assessment of the Eurozone development.
According to the European Commission, the European economy will shrink by 0.3% in 2012 amid recession in Italy and Spain. The EC forecasts Italy's economy to shrink by 1.3% in 2012 against expectations of a 0.1% growth and Spain's economy to grow by 1%. Also the economic growth of Portugal, Germany, Ireland and France was downgraded. The European Commission also raised the inflation forecast for 2012 from 1.7% to 2.1%.
As you can see, after the pullback to 1.3269 and the closing of the European session the pair set a new high of 1.3377. It was a reaction to the news that on Thursday the Greek parliament approved the law on implementation of the 100 billion euro debt forgiveness.
On the daily forecast I have a target around 1.3450. On Friday, according to the hourly chart, I consider the target at 1.3420, but I want to warn right away, there are negative factors that point to a deep pullback. That is that the price is trading at the U3 line and there are three consecutive tops on the AO. This literally EURUSD will draw a divergence and could go to the Lb line at 1.3320. If buying activity is high, the pattern could extend to a double divergence and then go for a pullback. In the European session the GDP reports will be released. Since the European Commission has already painted a gloomy picture for the EU and has revised the economic growth downwards, the negative data should not have a strong impact on the buyers.
So my point is this... That the eu cannot rise on a 100bn bailout for greece when the economy is going down. Anyway, there's some kind of bull trap here. Who needs an expensive eu and an inexpensive quid for now. That's why I'm salting on a regular basis. I'm sure we'll end up flying very low. Only for how long this divorce will last - I don't know.
It's not from anywhere. Been drawing the whole chart at home yesterday. I was at home yesterday drawing all over the charts.
If so, you have to write not precise but imhoovative, in mt5 1.4 has been important all week, also not precise but imhoovative in some places ))))
southjpaw pips north for now and the eur has sold off hopelessly... to the moose ))))
I do not see the eu in this pair, they are doing well, while the americans have some difficulty printing so much paper without consequences.
What is wrong with America? Unemployment is at its lowest level since March 2011 and the stock market is rising.
But Europe - funds are falling, Greece has made a projected default, Italy, Spain, Portugal are on the line. Countries' ratings are downgraded almost every day.
The exchange rate is going by inertia, it needs a pull down and then the fall will be significant.
If so, you have to be more specific than impulsive. in mt5 1.4 has been important all week, also not precise but impulsive in some places ))))
southjpaw pips north for now and the eur has sold off hopelessly... before the crow ))))
My view of resistance and support levels
What is wrong with America? Unemployment is at its lowest level since March 2011 and the stock market is rising.
But Europe - funds are falling, Greece has made a projected default, Italy, Spain, Portugal are on the line. Countries' ratings are downgraded almost every day.
The course is going by inertia, it needs to be pushed down, and then the fall will be significant.