EURUSD MARCH 11
March 11, 2011
EURUSD is ending the day much higher before I made this chart, but as you can see there was a tremendous amount of selling all week making new lows at 1.3750 but at the end of the day today we had a huge retracement wiping out one of my short trades completely, just didn’t see this one coming even for friday trading.
Next week are we up or down on EURUSD?
EUR/USD March 10 – Incredible Selling
March 10, 2011
EURUSD is just defying technicals and following fundamentals at this point, mostly the debt concerns.
Last night provided me with quite a few areas to short the Euro as you can see on this chart, support and restiance levels, fibs and pivots provided some support but mainly the pressure was so great on the Euro that USD really gave it a run down, I’m even concerned one of my long positions I’m holding on to for the mere fact I’m “thinking” EURUSD will reach 1.4000 again, but this is just such strong rejecting.
I am reading that Greece is refusing to pay back its debts and Portugal will be the next nation to be bailed out by the EU. Frankly, just as in the United States, you must ask yourself where is the money coming from to bail out these trouble nations in the Eurozone?
EURUSD Week Ending March 4
March 4, 2011
EURUSD ended another week way up versus the USD, touching 1.4000 briefly before meeting heavy resistance, next week I’d expect to see it continue the uptrend barring any significant news out of the middle east. If you see in this chart, a 4 hour chart, you can easily find long opportunities on dips of the moving average or the Heiken Ashi Smoothed indicators. Good stuff all around if you are long EURUSD.
