EUR has made a sharp fall yesterday during the american session, and is now in a consolidation phase as I've mentioned in my last update. Pullback has reached no more than 1.4281 (my forecast was 1.4270). Watch for a clear break of the support zone 1.4230-1.4210. Once below 1.4210 our target should be 1.4120 and even below, but a strong support is @ 1.4160-70. Below 1.4120 thera are no support lines and we are going to test 1.40. On the upside the things look pretty difficult, we have a very strong resistance @ 1.4330 which I expect to hold for today.

My strategy for to day is SHORT below 1.4330 with 30-40 pips stop, first target 1.4170, second target 1.4120.

Any comments and questions are welcomed 

Views: 88

Tags: EUR/USD

Comment by Paul Onyango on August 2, 2011 at 6:16am
I think this is a good strategy to go so  let us go.Thanks a lot
Comment by MarlonF on August 2, 2011 at 7:38am
wow... spot on as if you have a crystal ball !!!! ... great work mate, thanks for sharing..
Comment by Vladimir Mihaylov on August 2, 2011 at 11:11am
EUR unable to break 1.4170, reverse is possible, place stops, there are unconfirmed rumors that a russian bank buys EUR @ 1.4170
Comment by Vladimir Mihaylov on August 2, 2011 at 12:44pm
I'm SHORT on GOLD @ 1639
Comment by sabbir on August 2, 2011 at 12:47pm

what is your TP on Gold and SL?

 

Comment by FONTES on August 2, 2011 at 12:56pm
vladimr good afternoon i´d like too know if you have a reliable system for indicating to me so i suggest you can negociate on eurusd, i have to thank for the tips you have left because it has givin me a lot like
Comment by Bruno on August 2, 2011 at 1:15pm

Hi

Aren't we due the vote from teh senate today (3pm GMT)? This should bring the Fiber down, shouldn't it?

 

Comment by Vladimir Mihaylov on August 2, 2011 at 1:45pm

Vote in the senate will begin at 4pm GMT, possible down move for the EUR with a huge pullback and even reverse. Trading in such conditions is very risky and hard to forecast correctly. I'm doing my best to share my positions with you.

@sabbir - my take profit is around 10-12USD and SL is around 3-4

@Fontes - i have no system, just some indicators and 6 years of trying to read them correctly

There is some more things i want to focus on:

We are still waiting for the USA AAA raiting downgrade, I think this will happen despite the agreement and the vote in the senate. This will support the EUR. Another thing to support the EUR is that there will be a FOMC meeting on 9 aug, and the economical growth isn the USA is near the 0% so there will be more disscussions of what to do more. Do not add to your short positions - the HIT and RUN strategy is most effective for today. Do not wait for the EUR to drop a lot, it's always better to take a small profit than nothing and even to loose money.

Comment by Bruno on August 2, 2011 at 1:50pm
Thanks - very much appreciated
Comment by sabbir on August 2, 2011 at 1:53pm
good point

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