Forex Signals – EURUSD Still Falling
Recap: We didn’t enter any new trades before the weekend (as promised), or yesterday since the US Banks were closed for Memorial Day. The markets did open with a bullish gap, however, which has already been closed and the pair is within 20 pips of it’s Friday closing price.
The medium trend is definitely bearish – taking a look at today’s chart you can see the price very steadily goes from the top left of the chart to the bottom right after a steady diet of lower lows and lower highs. Driving this of course is the political turmoil in Greece and the greater eurozone. Traders fear the unknown and the unknown in this scenario is a Greek exit from the eurozone.
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Tue May 29 |
12:00 | EUR German Consumer Price Index (YoY) (MAY P) | 2.1% | 2.1% |
| 12:00 | EUR German Consumer Price Index – EU Harmonised (YoY) (MAY P) | 2.2% | 2.2% | |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: We are still very bearish on the pair but we are tracking a clean falling resistance from yesterday and will take an aggressive long on resistance break with targets at 20/20/20/20 for 80 pips. We will close and get short on a support break with the same targets.
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sahara
May 29, 2012 at 06:19Gm @Mark and @all thank you for today signal !!!
Dilip kumar
May 29, 2012 at 06:33really eur will fall today
sahara
May 29, 2012 at 06:35I Entry a long will see 2560 area reaction
Ajagbe-Balogun Kamoru Abefe
May 29, 2012 at 06:38are going to north around 2560?
sahara
May 29, 2012 at 06:46i hope more than that when our area here will be broken we can see 2620 as our daily signal said!!
sahara
May 29, 2012 at 06:57http://imageshack.us/photo/my-images/543/nows.png/
Dilip kumar
May 29, 2012 at 06:41I need daily confirm 30 pip how??
yasser
May 29, 2012 at 06:48GM all
Thanks Mark
demo
May 29, 2012 at 06:59hi all
I went long EU and GU
Did you guys pro-pipphuters have signals to go long?
Have a good trading day!
sahara
May 29, 2012 at 07:10yes after alert !! a new alert R break a few mn ago (alert price 2549 R 2539
BeMoreWild
May 29, 2012 at 07:00GM all….Dilip sell at 12590:) how r u yasser?how did u managed ur long yesterday
yasser
May 29, 2012 at 07:32Hi Be
i am ok, thank you very much for asking,
i didnt do any thing but as you said i will wait 1600 for hedging.
Clem
May 29, 2012 at 07:23Good morning@ Mark-Thank you.
@All-Good morning. Happy Piping.
sahara
May 29, 2012 at 07:555750 gu ????
sahara
May 29, 2012 at 08:02in for 40 or 45 pips
demo
May 29, 2012 at 08:02Took some profits on EU and GU.. Let the rest run to 1.5750 and 1.26 (hopefully they will get there!) how about you guys?
Chip
May 29, 2012 at 08:04Good morning @all I went short from 1.2572 and if it will go up a little bit more I will open another short
yasser
May 29, 2012 at 08:13i think above 126 good for short
yasser
May 29, 2012 at 08:15above 12540 good for long
smile
May 29, 2012 at 08:23GM@ all. Back to sit desk. Looking for long level. Suggest me any level?
sahara
May 29, 2012 at 08:29hi@smile am long 2535 area !! waiting to bke 26 !! a new entry (broking 2570 ??
sahara
May 29, 2012 at 08:32but still fighting inside a triangle !! (2520 area 2580 !!) when y are inside grrrrrrrrrrrrrr !! up and down !!
sahara
May 29, 2012 at 08:38http://imageshack.us/photo/my-images/688/83762281.png/
sahara
May 29, 2012 at 09:16will make a travel till 2530 and buy there again !! only my idea
sahara
May 29, 2012 at 09:43closed short for 14 pips
sahara
May 29, 2012 at 09:48second for + 20 !! closed !!
sahara
May 29, 2012 at 09:49and bouhgt !!
sahara
May 29, 2012 at 09:51second buy
Kobe
May 29, 2012 at 09:53nice trading sahara, i’m in long as well one yesterday 2570 and one lot today 2533, planning to close them @2640, maybe today? stop is under 1.25.
Good luck and keep up the good work!
sahara
May 29, 2012 at 10:05am bad this month !!!
Kobe
May 29, 2012 at 10:11sorry to hear that, but the month is almost over, so i hope next will be better for you!
sahara
May 29, 2012 at 10:16i accept !!
sahara
May 29, 2012 at 10:19whenyou have an idea if you decide to entry first you have to know where you will exit if market goes against you and you will be safe !! i do it and am safe like that but am still with a mistake i do not know how to let running my “green pips ” … It will come even for a camel !!hahahah
sahara
May 29, 2012 at 09:54grrrrrrrrrrrrr so bad camels !!!
sahara
May 29, 2012 at 09:56if my sl below 2413 will not hold !! will be bad
sahara
May 29, 2012 at 09:562513 sorry
sahara
May 29, 2012 at 10:12will test lower!! ??
Chip
May 29, 2012 at 10:46@sahara I see no point in going long, because it’s against the trend, at least until things settle down in Greece and in Spain, so if you want safe trading – wait for a rally and go short in the 1.2570 – 1.2600 area. It’s what I’ve been doing the past few days and it brought me a lot of pips. I agree that you can make the pips going long too, but it’s more risky – maybe you like the adrenaline rush :)
sahara
May 29, 2012 at 11:45yes @chip sorry was away ! agree with you (but just pips when up or down : pips are safe now only one lot still working if any rally !!! … but i beleive 25 is a strong S for moment
Chip
May 29, 2012 at 12:11I agree @sahara , for today 1.2500 is a good support … we’ll shall see for how long it will hold (this week it will probably hold).
sahara
May 29, 2012 at 12:2616 pips again from low haha !! good for me !!
sahara
May 29, 2012 at 12:36http://imageshack.us/photo/my-images/594/83329074.png/
gybankster
May 29, 2012 at 13:14its been the way to trade for weeks chip,but some people are just too stubborn,and full of ego
sahara
May 29, 2012 at 13:18am piphutterboy !!! (
Chip
May 29, 2012 at 13:26@gybankster I believe that some people make money going long to from 1.2520 up, and it’s not necessarilly because they are stubborn or full of ego – it’s only that they have a bigger appetite for risk than me and they want to take advantage of the rallies too. I agree with you that some people are stubborn to defend the Euro – they are joined by the european banks which sit on many billions of Euros and don’t want to see them lose value.
Kay
May 29, 2012 at 11:06Good day @all, i remain bearish on fiber but bullish in swissy.mt bearish stance has paid off after my mega loss on my suicidal long 2 weeks ago. i have learnt to also stick to the trend even while scalping.
sahara
May 29, 2012 at 13:06am testing scalping strategy with piphut pro (in a demo !!!!(last 30 if pullback 3 with a SL 30 tp 9 !!!
sahara
May 29, 2012 at 13:08TP SL Pullback Total
wins Total
losses Consec.
Wins Consec.
Losses Win % Profit
Factor Net
Profit
9 30 3 29 7 10 3 81% 1.54 91 pips
False Signals Strategy
sahara
May 29, 2012 at 13:11grrrrrrrrrr closed !! tp hit so early !!!!
Kay
May 29, 2012 at 13:29haha, scalp based on what myself and Johnr called VIBRATION theory, add our theory to trend direction gives us unusual advantage. I am enjoying myself real good
sahara
May 29, 2012 at 13:15will try it with gu 15 mn !!! no pullback till nowTP SL Pullback Total
wins Total
losses Consec.
Wins Consec.
Losses Win % Profit
Factor Net
Profit
7 10 5 20 3 12 1 87% 4.67 110 pips
5 18 2 28 7 17 3 80% 1.21 23 pips
False Signals Strategy
Kay
May 29, 2012 at 14:15that is what i call CONTRA position and it is great fro scalping style
John R
May 29, 2012 at 15:02@Sahara!
If you’re interested, let’s you, me and Kayus hook up and AUTOMATE your strategy!
sahara
May 29, 2012 at 15:09a camel is very clever , but it will be necessary long time to explain !!!!even if i tquickly understands !!!!floor by floor ;it s the first time that i test this strategy ;am better with pullback one ;;;;;give time to all camels on earth !!!hahahahahah
John R
May 29, 2012 at 15:12I was just offering. You could document all your specifications, and let us develop the system for ya!
I’m not advertising…it’s all free for our friendship. We only have one business plan….to pip for ourselves! haha
sahara
May 29, 2012 at 15:14no problem @friend!!
sahara
May 29, 2012 at 13:26nothing(now) open in eu !!
sahara
May 29, 2012 at 13:342550 no passaran !!!
sahara
May 29, 2012 at 13:52trying pips up here aud usd (by 16 pips
sahara
May 29, 2012 at 14:04MY SL9837
sahara
May 29, 2012 at 14:19hit and more !!
Kay
May 29, 2012 at 14:13269 is a decision point to the bull and bears based on my chart, above or below will tell if to continue witht he bear or join the bull train
sahara
May 29, 2012 at 14:20if you are in eu yen have an from a lot h in a S !!
John R
May 29, 2012 at 15:00Hello everyone. I had a nice long weekend holiday, remembering the troops of Freedom!
Pipping has been great, even on Monday. Believe it or not, a slow ranging market also does wonders for my pipping system.
Let’s keep the pipping and screaming going!
sahara
May 29, 2012 at 15:09hi @johnr
Kay
May 29, 2012 at 15:25who says trend is not your friend? i is better late than never, sticking ot he trend is a sure way of wininig
John R
May 29, 2012 at 15:52Speaking of that…our friendly Trend is back and biting!
EURUSD has fallen to 2477 in a hurry
John R
May 29, 2012 at 15:53End of London session is very close. I expect 2450 to hold…or even 2475.
Try again another day.
John R
May 29, 2012 at 15:53Even a ranging market has a biased Trend underneath.
Kay
May 29, 2012 at 16:40yeah
sahara
May 29, 2012 at 15:52not in!!!
sahara
May 29, 2012 at 16:17some one take this train ??
sahara
May 29, 2012 at 16:32see you tomorrow
Kay
May 29, 2012 at 17:16bye for today. do enjoy your trade like Mark said FIBER IS STILL FALLING
Maria
May 29, 2012 at 18:09Come on boys, admit it, which one of you broke the euro again?
I’ll go into defense on longs on a 4h closing under 2480. Still think there will be a correction coming at some point and when it comes it will probably be fairly evil, but as said under 2480 too gamey for me to hold short term longs.
John R
May 29, 2012 at 20:51I didn’t do it! It can do whatever it wants to.
But Maria….I sense that you are hungry for more shorts. So, I’ll root for nasty Longs for your fades.
Maria
May 29, 2012 at 21:59I’m always hungry for more shorts for mid-terms, but not at these levels John
John R
May 29, 2012 at 22:02What? You’re finally giving up?
Maria
May 29, 2012 at 22:10I started looking for long opps end of last week, as said I want my 270-275 back for starting to re-position mid shorts, I might be way off here again of course, but I’ll take my chances until 2460-2480 holds intraday closes.
BeMoreWild
May 29, 2012 at 21:10Dear john n maria be carefull with ur longs till Olympics start GBP is weak but will take euro up in the air:) but we still have almost 15 days more for shorts just try to catch it from secure levels…im thinking of 12420 n 12390 for long and 12550 for shorts…..has any1 seen a gap near 1100 area maybe its coming to fill that…
John R
May 29, 2012 at 22:02Thanks.
No one can predict when the trend changes. So, I just do whatever as long as it is along the current trend.
Maria
May 29, 2012 at 22:05Um, not sure what plan your trading but none of these levels does anything for my game, but whatever works for you of course.
Nighty night, have a good one everybody
Harry
May 30, 2012 at 05:40Morning all.
I have longed euro and cable this morning. Small “dead cat bounce” expected I think!
Chip
May 30, 2012 at 08:29@Harry please watch out for the EU economic data due today at 11:00 CET because if they are really bad your SL might be hit. It’s just my feeling but I think Economical Sentiment and Consumer Confidence will be lower, but we shall see.
sahara
May 30, 2012 at 07:49gm @all
sahara
May 30, 2012 at 07:49http://imageshack.us/photo/my-images/194/75336174.png/
sahara
May 30, 2012 at 07:50my order for this morning
sahara
May 30, 2012 at 07:55am in eurogbp for 45/55 pips http://imageshack.us/photo/my-images/820/eurogbp.png/
sahara
May 30, 2012 at 07:57will scalp eu btw 2460 to 2435 if possible (by 10 or 12 pips
sahara
May 30, 2012 at 08:10nice in the pocket!!
sahara
May 30, 2012 at 08:15http://imageshack.us/photo/my-images/12/sahay.png/
sahara
May 30, 2012 at 08:27make it twice!!
sahara
May 30, 2012 at 09:02enough eu!!
sahara
May 30, 2012 at 09:06http://imageshack.us/photo/my-images/710/fatl.png/
sahara
May 30, 2012 at 08:3479 11 usdyen !! will try it!!
sahara
May 30, 2012 at 08:59will wait !!
sahara
May 30, 2012 at 09:20sahara speacks to sahara
sahara
May 30, 2012 at 09:26is it possible to see 9690 area in aud usd !! (i try to find a nice entry
sahara
May 30, 2012 at 09:29http://imageshack.us/photo/my-images/404/audr.png/
yasser
May 30, 2012 at 09:32Hi sahara
how are you today ?
sahara
May 30, 2012 at 09:38scalping camels !!
sahara
May 30, 2012 at 09:50NOW waiting to short eu aud usd and eu gbp !! as i said (looking for prices send it earlier
yasser
May 30, 2012 at 09:52i am long waiting 125
sahara
May 30, 2012 at 09:55camels buying are in hollidays !! only camel sell 1 and 2 are in the field!! hahahah
yasser
May 30, 2012 at 09:58but you dont think we should see by today 125?
sahara
May 30, 2012 at 10:02my order sell is 2485 area !! yes possible 25 !!
sahara
May 30, 2012 at 10:062444 was (a doji 15v 30 mn and hourly bullish one !!! !!!
yasser
May 30, 2012 at 10:07realy i dont know where it going to take us down 118,120,122
no idea
Chip
May 30, 2012 at 10:06I think we will see 1.2380 sooner than 1.25 after the bad economic data from the EU.
sahara
May 30, 2012 at 10:09yes @chip let s see how 2420 area (if pullback there a up to 2460 area with a thight sl 10 or 12
sahara
May 30, 2012 at 10:33as i see made a pullback (12 ) if possible with a sl 2415 area we will see 2468 area
sahara
May 30, 2012 at 10:41my 15 mn !!now http://imageshack.us/photo/my-images/515/2458m.png/
Maria
May 30, 2012 at 10:48Hello all, I’m out of longs on both fiber and cable, started the defense but it was dropping too fast and decided to take a 100 pip loss combined across all positions. I’ve had an excellent month and didn’t want to risk that now in the last 2 days.
I still think that a correction will be coming at some point and when it does it will most likely be quite angry but my plan was definetly invalidated for the moment.
sahara
May 30, 2012 at 10:57nice!!!! better @maria no risk !! and gm !!
sahara
May 30, 2012 at 11:01closed e gbp (+ ) because near support !! will entry again
sahara
May 30, 2012 at 11:02hahah !! 68 hit (was not in !!
yasser
May 30, 2012 at 11:15US: MBA Purchase Applications
Composite Index – W/W Change
Actual: -1.3%
Previous: 3.8%
Purchase Index – W/W Change
Actual: -0.6%
Previous: -3.0%
Refinance Index – W/W Change
Actual: -1.5%
Previous: 5.6%
Chip
May 30, 2012 at 11:16The last 15 minutes there was more action than the entire day … nice
yasser
May 30, 2012 at 11:17EU willing to “envisage” direct ESM bank recapitalization
yasser
May 30, 2012 at 11:19@Chip
i close all my long positions on 124699 on this action with nice profit
sahara
May 30, 2012 at 11:19congrats !!@yasser
yasser
May 30, 2012 at 11:23thanks Sahara
i hope the same to you also as i know its bad month for you and for me as well
sahara
May 30, 2012 at 11:24from a few days i am back !! it s forex !!
yasser
May 30, 2012 at 11:27Yah Sahara we have to be very careful with 24 hours eyes on chart
Chip
May 30, 2012 at 11:21Wise move. You took a big risk with those longs … Congrats!
yasser
May 30, 2012 at 11:25yes my dear i was on loss but i add some more posotion on 12530 and after 30 second remmove my loss and have profit
yasser
May 30, 2012 at 11:28sorry 12430***
yasser
May 30, 2012 at 11:31for now i want to see US opening then i will take decision
sahara
May 30, 2012 at 11:39aud going 9 808 but not in
sahara
May 30, 2012 at 11:43my order sell gu not so far!!
Xish
May 30, 2012 at 11:52@sahara
what setup you see in GU
Plz share it with us
sahara
May 30, 2012 at 11:57area 25/40 !!@friend i mean 56
sahara
May 30, 2012 at 12:00i have to go see y in 1H!!
Harry
May 30, 2012 at 12:02Hi everyone
I see a firm retracement with a 2650 or even 2700 target
Chip
May 30, 2012 at 12:09Please share with us the fundamentals for this retracement
Harry
May 30, 2012 at 12:06Buy, buy , buy (I hope!!)
Harry
May 30, 2012 at 12:41Nice little fake out. Still very bullish IMHO
DDimopoulos
May 30, 2012 at 13:11Harry I hope so cause I have gone long here all because of you ;)…
RahmanSL
May 30, 2012 at 12:43GM, GA, GE @All
Buy, buy, buy????????….hmmmmm….might become “Die, die, die” as nothing good can possibly come out from the EZ to boost any confidence in the Euro.
DDimopoulos
May 30, 2012 at 12:54Well there could be baqd news from the US ie. bad enough to strenghthen the euro rather than increase risk aversion. Remember every where has its problems, its just which one is less serious. So EU could easily streghthen as well as weaken.
sahara
May 30, 2012 at 12:51back
Johnny (from PocketPc)
May 30, 2012 at 13:14Long @2425 1tp 2470 2tp 2490 3tp 2510 sl just below 2400.
DDimopoulos
May 30, 2012 at 13:20My thoughts exactly johnny but there seems to be a big heavy rock tied to the eu and not sure its going to let go anytime soon. Lets hope someone cuts it and eu shoots up to where it should be…i have my doubts though…
sahara
May 30, 2012 at 13:21hi@johnny
Johnny (from PocketPc)
May 30, 2012 at 13:22Sahara have given everybody something to drink accept me….
http://www.newsnow.co.uk/A/576702561?-641
sahara
May 30, 2012 at 13:27hahahahahahah!!!
Harry
May 30, 2012 at 13:32ddimopoulos please don’t trade on my recommendations everything I say here is just IMHO and I’m normally wrong! Ha Ha
DDimopoulos
May 30, 2012 at 13:34Its too late now – i have put everything on. I have sold my house, my car and even my clothes. Everything is LONG BECAUSE HARRY SAID SOOOOO ;)…
Harry
May 30, 2012 at 19:17Whoops – don’t worry what goes down must go up!!
sahara
May 30, 2012 at 13:33harry harry up !!! hahaha
Johnny (from PocketPc)
May 30, 2012 at 13:34@Ddimi – Tomorrow and on Friday it seems some stormy weather is forecast in the US? :-)
(Some News events coming up, special fridays NFP could bring thunder and lightening??? lets see :-))
Johnny (from PocketPc)
May 30, 2012 at 13:37@Ddimi – If you’ve put in everything on your Longs….read this: (Poor Greeks if a Grexit!)
http://www.newsnow.co.uk/A/576692264?-641
doc1
May 30, 2012 at 13:45gm all….
only one thing will stop the plunge…
massive govt money printing
Having said this I think the USD is close to a correction
——————————————————————————————————-
Prices are staging an intraday bounce but a bearish Breakaway candlestick pattern remains valid and continues to warn of a larger pullback ahead. Initial support lines up in the 10134-41 area, defined by the 76.4% Fibonacci expansion and the October 2011 swing high, with a break lower exposing the 61.8 expansion at 10078. Alternatively, a daily close above the 10225-41 area marked by the May 25 high and 100% Fib would neutralize bearish cues.
————————————————————————————————————-
FWIW.. I have closed all my shorts and will wait for a sustained break below 2400 or a correction to reopen another position.
doc1
May 30, 2012 at 13:51geez…not even a gm…where’s the love …lol… just kidding…..
Johnny (from PocketPc)
May 30, 2012 at 13:52Howdy….
doc1
May 30, 2012 at 13:52lol…howdy @johnny
doc1
May 30, 2012 at 13:53German two-year note yield falls to 0.007%; lowest on record
Johnny (from PocketPc)
May 30, 2012 at 13:58No intention running after this south bound to catch it at this stage….
RahmanSL
May 30, 2012 at 13:59Are we still going “Long”??????
Johnny (from PocketPc)
May 30, 2012 at 14:01Me yes, as long as 2400 holds! If pierced I may join you’ll? But I guess once I open a Sell trade this thing may bounce up like a rocket ???
Johnny (from PocketPc)
May 30, 2012 at 14:02Have to go, an appointment….
GL all.
RahmanSL
May 30, 2012 at 14:06Ok, but seems like a rubber ball at the moment….
doc1
May 30, 2012 at 19:20very well written article for those interested
http://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2012/05/30/Simple_explanation_to_Euro_Crisis.html
doc1
May 30, 2012 at 20:31Trading simply does not get any easier than this…
What we are seeing is a slow deliberate and methodical dissolution of euro positions..
Notice the uniform size of the candles in the various tf’s….
There is very little volatility attached and any corrections have been relatively predictable…
However… as I do believe a correction is due any positions I hold are intraday only now and have a small sl.. fwiw still short from 2396 …gl all
Kobe
May 31, 2012 at 08:31goodmorning to all, i think 1.236 was the midterm bottom, we will go up to about 1.2650 at least before taking another dive into the deep. Just my view of course and probably wrong, but i give it to you anyway. So long 1.24 stop 1.234 tp 1.264. With a small lot of course…
good luck today! should be a good day because it is my birthday!
@johnny nice article you posted there, there are some smart people in Leuven!