Forex Signals – EURUSD Consolidating Above Support
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Recap: Our short was triggered on the support break a few hours ago at 1.2910. That short is still open and is hovering around 1.2905 (5 pips in the profit). We are going to let that short ride for now.
The pair is consolidating into a wedge pattern between the top blue falling resistance and the bottom blue rising support on today’s chart. The support has more history behind it as it is an intra-month support that has been tested (and held) several times. The pair has bounced off this rising support yesterday.
We are letting the charts guide us on this one: we are short-term bullish if the falling resistance is broken and bearish if our support is broken.
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Tue Oct 2 |
04:30 | AUD Reserve Bank of Australia Rate Decision (OCT 2) | 3.50% | 3.50% |
| 09:00 | EUR Euro-Zone Producer Price Index (YoY) (AUG) | 2.6% | 1.8% | |
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Trading Idea: We are leaving our short from 1.2910 open with targets at 1.2830 (80 pips). Our SL is still at 1.2960 but we will close and get long if a resistance break occurs (which will most likely occur before the SL is hit if price moves against us!). If we do get whipped out to the topside we will look to re-enter short on a support break with targets at 80 pips.
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sahara
October 2, 2012 at 10:39hi all have a nice day
andi
October 2, 2012 at 11:19Hello all again, hi @saharaview, thanks @piphut for new analyze and signal, well as said early morning that Reversal point 2922 was 2 times attacked till now, rest of the scenario still the same some tech data coming next, GL
Comment left on:
October 2, 2012 at 05:50
andi says:
Good morning everyone, well as awaited the 1.2876 (NY afternoon) and reverse from that point now as long as this sup holds, upside bias remains strong to 1.2922 (Reversal High), but a break of 1.2939 (Break Out High) needed to extend gains to 1.2955 before another drop back to attack 2876-78
andi
October 2, 2012 at 11:21Elliot Wave end 1.2960
Projection 1.2830
Falling Res: 1.2940
Res 2 1.3012
Res 1 1.2950
Pivot 1.2875
Sup 1 1.2815
Sup 2 1.2742
andi
October 2, 2012 at 11:22Reversal High 2922
Break out High: 2960
Pivot 2875
Reversal Low: 2850
Break Out Low: 2812
andi
October 2, 2012 at 11:26Gold As long as above 1775.32 the buyers will make it hard for bears to play and 1781.10 the last barrier to top, under 1775.32 looking for some fast pips 1774.32 and 1773.65 before revers
Fred
October 2, 2012 at 11:42good day PHTS and Mark. comments appreciated
grace
October 2, 2012 at 12:31GD piphuters. @andi hi friend happy new month to u and the rest of piphuters. my 1tp of last night hit second tp 293777. if unable to break the high of yesterday , down i follow to 2876. my view. tc and gl
andi
October 2, 2012 at 12:37@grace hello my friend, happy to see you got tps in house, however this game will continue my view till they got 2955 , but as said before still that 2939 very important point to reach whcih is no more so far , GL
andi
October 2, 2012 at 12:45@grace, forgot to say happy new month to you too and more pips in Green, do not forget that market will wait for 14 GMT and option expiry prices , news said huge option price over 2900 , it means till that time we will stay above 2900 for all good reason, what they try to do, like a US bank today :-)
EUR/USD: 1.2770, 1.2875, 1.2900, 1.2935, 1.2950, 1.3000, 1.3050
Grace
October 2, 2012 at 14:35@andi thanks 4 reminding me. I cant access my platform network problem. My pemdhng order 4 short@2872 tp 2840.
andi
October 2, 2012 at 15:03@Grace, well I had to close earlier my longs but waiting for another top and 2955 if I will see there a good reason to short then will get a short @ 2945 targets to start point of today with 2913 and 2900 and 2895 as small tps, but lower then will be with you to 2850
andi
October 2, 2012 at 15:192955 already , it seems nothing will stop this train but let’s see if 2960 Break out High will hold
Patrick
October 2, 2012 at 16:40yes something will stop this train @andi we are riding south for like 150 pips bcos we are in a range for now . just my view
sahara
October 2, 2012 at 16:52hi all
sahara
October 2, 2012 at 16:56all of this is for spania !!! moody s “sleeping” ecb this week ………..after : bouuuuuuuuum bb
andi
October 2, 2012 at 17:47@patoski, thank you for reply, well as long as this 2932 now on the way my view we will see another try for 1.3000 but getting this line and closing under 2914 then the down move will start, GL
andi
October 2, 2012 at 17:48@Saharaview, hello my friend, nice to cu back, hope all ok, again another Golden day and no partner
sahara
October 2, 2012 at 18:11yes see it !! playing a few aud from yesterday 0250 not so far will close it earlier !! no gold was away as you see
sahara
October 2, 2012 at 18:12and hello @andi sorry
sahara
October 2, 2012 at 18:13another 773 to 1781 ??
sahara
October 2, 2012 at 18:181780 area was nice to short till here !!
andi
October 2, 2012 at 18:30Hello my friend, well no more trade on Gold as you know all by 14 GMT closed but I see now 1771.05 and next 1765.68 as next reversal points added to that 773
sahara
October 2, 2012 at 18:36like you but my aud will close soon i hope 02550 !! playing a lot short gu too !! eu grrrrrrrrr playine it self hi 2910 hi 2920 hi 2940 in both side from friday i think !! yesterday 2878 said no passaran ??
andi
October 2, 2012 at 18:37exactly as planned, our friend marry is a magician :-)
andi
October 2, 2012 at 18:34the only reason I am still around is my short trade on Euro, right now, try to find a reason not close with 40 pips plus, but I am waiting that 2913 this time will make it and /or I will close with 2916
sahara
October 2, 2012 at 18:372913 or 2909?? and more if bears say yes
sahara
October 2, 2012 at 18:38sanp 500 will show us what to do !!
andi
October 2, 2012 at 18:43Nice @sharaview, I like this language now :-) trading with all info
andi
October 2, 2012 at 18:39at the momen 60 Tf 2913 (200)
Johnny (from PocketPc)
October 2, 2012 at 18:38Hi All. Hope all are fine?
I am still abroard and dont have much time to be in here much (To busy!)
But just wanted to share my idea and my trade with you…
I just bought here @2920 (Push up level) and have my TP @3080 set for now…
Short and Medium term we’re in a Bullish mood :-) And it has to go below 2750 to really get the Bears into power to push this way down…!
We have tested the 200 Day MA support level now already a number of times now and it seems we cant break it down :-) So what doenst want to go down should go UP ! :-)
Good Luck Guys…..My Bell will ring when we’ve hit 3080…..Take care….
andi
October 2, 2012 at 18:42@Johnny, nice to see you finally, hope you are doing fine and all ok with the Job outside, wish you all the best with your new trade and look there is no message without you in this forum, take care my friend and hope to c u again
sahara
October 2, 2012 at 18:43hi @johnny !!! rinnnnnnnnnnnnnnnnnng rinnnnnnnnnng rinnnnnnnnnnnnnnnnnng !!! nice to see you hope all is well
sahara
October 2, 2012 at 18:47a question @andi why am i still with a order buy in gold 1730 ??? am i “mixing 5 and three ” i think 1750 will a last station low if 1730 it means 1700000000
andi
October 2, 2012 at 18:50correct my friend that is S2 1748.55 but before that you have to see that 38.2% 1752.45 where if we go lower to that level will be a good return
sahara
October 2, 2012 at 18:554 pips and my aud will close
sahara
October 2, 2012 at 18:56open 0367
sahara
October 2, 2012 at 18:57hooooooooop hit !!
andi
October 2, 2012 at 18:58Ok I closed at 2916 for first order but second one will let run and SL lower at 2925 now will close with enough pips if not then next TP as before
sahara
October 2, 2012 at 18:58112.1 pips need a cup !! but grrrrrrrrrrrrrrr “mal aux dents from dayyyyyyys “teeth ache
andi
October 2, 2012 at 19:00be careful my friend, with your teeth
sahara
October 2, 2012 at 19:03sahara body is so …………. from the day where @jonny closd fridge : water morning and afternoon
andi
October 2, 2012 at 18:59Comment left on:
October 2, 2012 at 15:03
andi says:
@Grace, well I had to close earlier my longs but waiting for another top and 2955 if I will see there a good reason to short then will get a short @ 2945 targets to start point of today with 2913 and 2900 and 2895 as small tps, but lower then will be with you to 2850
sahara
October 2, 2012 at 19:00nice call !! put pips in fridge !!
andi
October 2, 2012 at 19:02thx my friend, but I saw that 2960 area after and well the rest you know better, overbought area and down is the word after that
andi
October 2, 2012 at 19:01ok closing 2913 not enough under 2914 :-( so it will try some upside before it turn to 2887
sahara
October 2, 2012 at 19:18euroyen seems asking 9999
andi
October 2, 2012 at 19:20I do not even see that one, always tricky :-)
sahara
October 2, 2012 at 19:28playing aud from 0255 last station will closed with wall street
andi
October 2, 2012 at 19:31wish you Gl , Now I have to say good night and finish all with also next closing at 2920, it seems that 2913 defend the bullies and will do our bullish friends another round of happines hopefully but as before I see 2887-94 coming
sahara
October 2, 2012 at 19:35good night @andi !! will be away tomorrow again hope will finish early to be here with you
andi
October 3, 2012 at 05:13Gm all, well it seems we had a light visit 2893 but this is still not enough we need a clear closing 2888 under that 2909 bulish line, if going again over 2909 then bulls will dance for 2924, 2944 and 2961 for another time but lower 2888 then 2869 , 2853,2844 and eventual 2832 but the reverse line 2844 seems hold from here if not then I will lower my target to 2824
andi
October 3, 2012 at 05:15Elliott Wave (Looking down today) at 1.2809
Projection line today on the Top 1.2964
Support line Rising 1.2882
Res 2 1.3010
Res 1 1.2965
Pivot 1.2923
Sup 1 1.2877
Sup 2 1.2835
andi
October 3, 2012 at 05:17Reversal Low : 2891
Break Out Low: 2867
Pivot: 2923
Reversal High: 2939
Break Out High 2965
andi
October 3, 2012 at 05:33Not to forget today the final PMI will be released at 10:00 AM (NY Time) if it’s weak then we may see 1.2800 again but a good PMI will boost the Euro
andi
October 3, 2012 at 05:35plus today option price expiry cu at 14 GMT
EUR/USD: 1.2800, 1.2850, 1.2925, 1.3000, 1.3100