As soon as the ECB stops buying the Euro will tank. The only way the Euro will gain any traction to the upside is if the Germans allow the ECB to become a lender of last resort and allows them to take on 6 to 8 trillion in Euro PIIGS debt.

EURUSD

Apparently, there is rumored to be a near term basement in the 1.3430 area due to an option barrier being heavily defended, that is why I think the primary reason for the near term Euro resiliency.

EURUSD

DOW down 300 points and the euro is pretty resilient here, not what I expected.

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I'm not even sure we could move it a pip. lol

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Norm!

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My concern, Dow coming off the lows of the day, Euro is not. Hmmm, I want to take a small long here as well, but eventually this bottom is going to fall out, and 3 hours till a daily pinbar close on my broker's charting service. I don't take pinbars ...

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Thanks

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That was from CNBC, a direct quote. lol They said European IMF head, I figured that was the wrong title.

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Head of European IMF resigned today, I wonder if this had anything to do with it.

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Thanks! Will definitely enjoy reading this.

EURUSD

The Bull was strong all day until Fitch killed the US markets in the last 30 minutes of trading, I was expecting 1.3680, I think we'll still get there, but I'm not willing to hold long anymore, at the first levels of decent resistance I'm getting ...

EURUSD

Yep, couldn't be more true. Patience is one of the virtues I need to work on, if I wait for price to hit support at swing lows and wait for price to hit resistance at swing highs my account really begins to increase quite exponentially, its when I ...

EURUSD

Haha, we can both make pips on this trade.

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I'm long, looking to get out at 1.3530, so I expect a it to get to 1.3529 and then reverse course. lol

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Yep, insider trading rules don't apply to Forex. I'm not buying here, but its being supported pretty well considering the DOW is down almost 200 pts.

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You're 100% right, I'm just bummed out, got stopped out, and now I have to sit on my hands as it goes up again because I don't want to chase a worst entry that I was stopped out of, well, at least I made a profit, but I was in near the Asian lows.

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Its news related, so who knows. Fitch came out bashing US banks, said had dangerous exposure to Europe, stock markets tanked and the Euro in tandem.

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Well, thanks Fitch for just telling us what we all knew. I still think the Euro goes higher, there will be a corrective rally, I'm just no longer in it.

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Thanks, I'm watching the PA the whole way up, will manually take profit if I have to, and will intently be watching 1.3650. Btw, I trade my charts naked as well too, indicator free, just s/r, fibos on the larger time frames and trend lines.

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I'm looking for 1.3680, I'm greedy, but I think its going to target 1.3702, and I will get out a head of that, as you can see the fact that 1.3650 is huge s/r doesn't phase me one bit. haha

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