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EUR/USD technicals: Base forming for move to 1.3780
By Sean Lee || January 3, 2011 at 22:56 GMT
|| 18 comments || Add comment
With a temporary base now looking to form now at the 200-day MA around 1.3085, and with the shorter term MAs turning bullish, the liklihood now is that we see a deeper retracement of the 1.4280/1.2970 fall. The obvious targets are the 50% at 1.3625 and the 61.8% at 1.3780, which is also a previous daily high.
i like it, the 10 and 21 are about to have bullish cross, rsi is above 50, nice rounded bottom on that 200 and 3625 is a nice target for almost 300 pips. i think i may have a go at this one. at what point do you think you would put a stop on this? obviously 3050-3080 is the rounded bottom and 200ma but i dont want a stop THAT big on it!
Sorry guys….but your both wrong. Big Correction coming. USD dollar strength coming into play. Good luck with your base formation.
You can put that post on the mantle if you want.
Oh…one more thing…the GBP/USD about to do the kansas city shuffle…..
Daryl, you are thinking we are going to see a corrective move to the upside in the USDX? What is your basis for this thinking?
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Daryl I hope you are right about that. What info are you using to say the us dollar is gaining strength??
In this business goodysj there is no such thing as hope. Hope is for the weak.
@Daryl what are you saying about Cable, i didnt get the lingo. Thx mate
Where there is life there is hope!
So Daryl the question still is, What is your basis for this thinking?
Fellows, do not listen to guys like Daryl, seen a guy like this all the time on message boards, so sure of themselves. Not saying he is right or wrong on his market call but the way we talks says all I need to know about him. Hope is not for the weak, pride cometh before the fall.
I am with daryl, this is why …
1. eur/usd is still range bound from december 1.3500 area – 1.3050 area.
2. was driven by exaggerated moves and few big players during thin market in December up until now
3.fundamentals haven’t kicked in yet. U.S. data good, cracks are starting to show in Chinese & European economies
4. few more things like that, but you get the basis of my ‘opinion.
I want to hear it from Big Bad Daryl. Come Daryl, back yourself up.
USD is hopeless now. Why should things change now?
mj thanks for you insight, Im with Mark where is Daryl, come on mate where are you???
I see in the charts a solid base forming that resembles a downward sloping lawnchair continuation pattern, and a beercan doji. The 5 day party avg has been crossed with the ceasar macdee doggitty! Forcing a solid dollar bill rebound for bigger parties ya’ll and shinier brass poles! Woooot woooot
Vinny LMAO, thanks
Yes Sean … now we formed double bottom… and we will enjoy to 1.3779 – 61.8% fibo… from 1.4280>1.2968
Cool tech… Sean 