Search  
Forex Insider News:  Join!
Saturday, November 22, 2008 ..:: Community » Forum ::.. Join Now!  Login
Site Navigation


Sponsored links*:

1 USD to trade, 7 mins to learn, 200 USD to start: pip-forex.com. Why complicate forex?
Forum
SearchForum Home
  Forex Trading Strategies  Forex Trading Strategies  How the Euro an...
 How the Euro and GBP trades
 
 2/2/2007 9:45:28 AM
User is offlinedesmond
2 posts


How the Euro and GBP trades
Euro has dropped to 1.2080 and not remaining stable. Now we have support at 1.2030 and 1.1990, the latter being just below our trend reversal level at 1.2000. Although the Euro has dropped a little further than we would like, the upward trend remains intact as long as we hold above here. Traders should continue to buy dips whilst above 1.1990, stops just below. From next week the trend may rise from 1.2200 to 1.2300+.
 2/2/2007 10:50:26 AM
User is offlinegraham
5 posts


Re: How the Euro and GBP trades
 GBP has soared high again in a very mixed market, which is lacking any reasonable direction. For today, we expect dips to be contained by support above 1.7400, but cannot rule out a brief dip to 1.7350-70, where the right side of a potential inverse Head & Shoulders pattern is beckoning. Until we break above 1.7600 and close above there on a daily basis, Sterling's fortunes will be mixed and trading will probably continue to be subject to large swings and spikes within the range. Right now there is no scope for any swings but the upward trend might begin.
 2/2/2007 11:23:47 AM
User is offlinecraig
4 posts


Re: How the Euro and GBP trades
   Dipping just below our lowest support level at 1.1990 after a sudden move lower late in the day, the Euro is now oversold and directionless. We continue to feel that the Euro should base this week, but now must allow for dips as low as 1.1930 before rallying. A strong rally today could take the Euro back to 1.2050/1.2100, perhaps forming a bullish engulfing daily candle and a weekly spike low. If we do not get back above at least 1.2040 today, we are in danger of more dips, perhaps even back towards 1.1830, but this is not our preferred scenario.
 Page 1 of 1
NextPreviousNo Rating
  Forex Trading Strategies  Forex Trading Strategies  How the Euro an...
SearchSearch  Forum HomeForum Home  
Forum Policy
These Discussion Forums are dedicated to the discussion of and about FOREX trading. You must register before being able to create a thread or post a reply.

For the benefit of the community, please observe the following posting guidelines:

1. No Advertising. This includes promotion of commercial products and non-commercial products which are not related to ForexPlane.com
2. No Flaming or Trolling.
3. No Profanity, Racism, or Prejudice.
4. Site Moderators have the final word on approving/removing a thread or post or comment.
Copyright 2006-2007 by ForexPlane.com   Terms Of Use  Privacy Statement  Risk Warning
Sedo - Buy and Sell Domain Names and Websites project info: forexplane.com Statistics for project forexplane.com etracker� web controlling instead of log file analysis