Chronicle of the biggest, deepest and most liquid market in the world, the Eurofx market, traded on interbank spot forex market as Eur/Usd and on IMM as the Eurofx futures. Patterns include CCI patterns ZLR etc. IMPORTANT notice: Nothing in this website constitute any advice to buy or sell financial instruments. The contents of this website are for EDUCATIONAL purposes and should not be construed to constitute investment advice. Charts will be from FXCM Power Charts.
20050629 Sideways action, forming a triangle pattern with lower highs nd higher lows. Could well break out either side. Downside break will trigger stop loss of long psition and upside break could see 1.23 taken out.
EURUSD chart
posted by emacro @ 8:09 PM
20050628 Close below 1.21 not looking good for the target EURUSD chart
posted by emacro @ 11:14 PM
20050627 Into the 3rd day of rebound since the double bottom panned out. Yet to reach the 1.23-1.2400 on the cash market though.
EURUSD chart
posted by emacro @ 8:04 PM
20050624 The chart pttern looks like double bottom forming. If it holds, the atrget of 1.2400 (now looking not good) may pan out. Analysts and traders are now saying "The Euro has a date with destiny to reach 1.2000", dog piling into the short trade at these levels do not give good return. They are 90% wrong with what they say, just like when eurusd was at 1.2900, the big 3, Merrill, UBS and Deutsche, supposedly the biggest 3 fx trading houses all were calling for "Euro will reassert the bull"
EURUSD chart
posted by emacro @ 4:05 AM
20050617 Eurofx futures chart. Buy ignal working out well. In act even as late as Thursday, opportunity exists to enter the trade. Target 1.2300 to 1.2400 on the EURUSD cash still intct.
EURUSD chart
posted by emacro @ 6:39 AM
20050617 The move did eventuate to around 1.2270. Aple opportunities even up to Thursday of the week to enter the long position, with the latecomers still piling into the shorts of the eurusd.
EURUSD chart
posted by emacro @ 8:57 PM
20050613 Since the last long term trading view in April (http://eurofxtrading.blogspot.com/2005_04_01_eurofxtrading_archive.html), now comes another interesting pattern on the EURUSD daily chart. Could point the way for the rebound to the 34 ema 1.2300-1.2400. Reason: the simplest being the triple divergence and the descending wedge pattern on the price chart.
EURUSD chart
posted by emacro @ 11:56 PM
posted by emacro @ 5:08 AM
posted by emacro @ 10:55 AM
posted by emacro @ 5:22 AM
