eur/usd

[lakshmi]

i think the eur /usd has bottomed out and we should see a retracement until 1.5150

 

[PualoP]

I think we'll see 1.4450 before we see 1.5150.

 

[lakshmi]

I think we'll see 1.4450 before we see 1.5150.

i have a eur/usd long at 1.5600 maturity end sep 08. do i cut my loss now, or you think some bounce back would be there before then

 

[monz83]

I don't think it will bounce till it hits support at 1.445 - then you'll see some bounce but hitting 1.56 in 1month is unlikely - get rid of it while you still have some theta.

 

[shadowninja]

i have a eur/usd long at 1.5600 maturity end sep 08. do i cut my loss now, or you think some bounce back would be there before then

Do your own research. Don't rely on the advice of others to make your trading decisions. They may be right. They may be trading gurus. Or they may have less experience and knowledge than you. You can never tell. If they're wrong, will you blame them or yourself?

 

[fakhar]

Do your own research. Don't rely on the advice of others to make your trading decisions. They may be right. They may be trading gurus. Or they may have less experience and knowledge than you. You can never tell. If they're wrong, will you blame them or yourself?

good piece of advice for newbies.

 

[arunmeena]

Hi Laksmi,

I'm quit new for this forex trading. what you mean by that?
Thanks.

 

[arunmeena]

"i think the eur /usd has bottomed out and we should see a retracement until 1.5150"

Sorry. What u mena by this statement?

 

[fakhar]

i have a eur/usd long at 1.5600 maturity end sep 08. do i cut my loss now, or you think some bounce back would be there before then

Hi Lakshmi,

I think you must cut your loss now. You should not wait too long.

Fakhar

 

[Guidolightning]

aye, cut your losses and run!! during perdiods like this it's best to follow the trend and I don't expect EUR/USD to see 1.50 again for the foreseeable future.

I'm new to this forum btw,

hi all and best of luck..

Guido

 

[jeffsmith]

Possibly more official and semi-official bids overnight with traders noting Asian names on the bid. Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view.
2:00am EUR German Trade Balance
2:45am EUR French Trade Balance
6:00am EUR German Factory Orders m/m
Resistance 3: 1.3520
Resistance 2: 1.3480
Resistance 1: 1.3420
Latest New York: 1.3275
Support 1: 1.3220
Support 2: 1.3180
Support 3: 1.3150

 

[jeffsmith]

On Friday, the Euro (EUR/USD) fell down 65 pips during the early part of the Asian session and broke under the low reached. Over the last five days of trading, the euro lost 400pips, as the market remains obsessed by risk.

 

[jeffsmith]

Today's expected trading range is between 1.3065 and 1.2870. Break under 1.2870 may lead to further decreasing scenario with test of 1.2750. The CCI indicator is about to cross up the 100 line on the 4 hour chart, suggesting potential increasing pressure.
Technical resistance levels: 1.3065 1.3180 1.3300
Technical support levels: 1.2870 1.2750 1.2635
Trading range: 1.2965 - 1.2900
Trend: Downward
Sell at 1.2952 SL 1.2982 TP 1.2912

 

[Dmond]

i have a eur/usd long at 1.5600 maturity end sep 08. do i cut my loss now, or you think some bounce back would be there before then

Before entering a trade you must have a clear plan.

1) why are you opening a position
2) when will you open it
3) when will you close it
4) where is your stop loss going to be if the trade goes against you
5) how much do you mind losing on that trade

Decide on all those before you place the trade and stick to that plan. If you change the plan after you place the trade then most likely you are responding to your emotions and will make an error.