Come US session tomorrow. Lets say the price is 1.3-1.325 range. Good news..... Will it drive the price farther toward the day of QE3 was announced as in 1.296-1.2900 range? What about bad news? Will it make the market want to test the top again or ...

EurAnalysis

last move was a little weak down. might want to watch for the reverse for scalpers.

EurAnalysis

possibly looking to hit a mark like the 50

EurAnalysis

add tired

EurAnalysis

triple top and we might punch a hole come US session.

EurAnalysis

YEP

EurAnalysis

So with the ZEW coming up what is everyones thoughts? Good news will it break higher or bad news break 80 down to 50 or more? I think it is looking to go down myself but with news good news who knows. Probably go up and back down again and possibly ...

EurAnalysis

well that was 120 pips. Went just like I said. UP and back down. woohooo

EurAnalysis

ROFL

EurAnalysis

LOL last week I would say yes but it is a new week and right now it is responding to high resistance. So right now it is becoming a little risky confidence wise to short term traders. It has bounced of the 50 twice now. I am thinking down to retest ...

EurAnalysis

which is why when it hit the top it dropped 40 like a rock and dropped on retest at 50. Def going to play the range now. Shorted on a scalp. If it breaks 80 no telling what will happen for a low. 50 may stop it temp as that would be 120 range with ...

EurAnalysis

hmmm the way this market is reacting. It may break 80 or rest at the 100 level until the London session. If it breaks 80 before close this is in a down trend for a while or a large channel. It it breaks 80 it will hit 50 which IMO is a nice ...

EurAnalysis

I would agree. 1.3080 has proven to be very strong resistance. It may range but I don't think it is going to pull back any farther than that. You have a 90 pips range now which is plenty.

EurAnalysis

actually a retest and a drop back down to 100-125 would not surprise me until the London session.

EurAnalysis

yeah... we will be retesting the top today. pretty bad news and that is all this market needs to go long again. Whether we make a new high.... eh. The news gave it a good reason to test the top. I doubt it will make a new high as I think they will ...

EurAnalysis

It may correct but I just don't see it correcting that much. 250-300 at the most IF it does from here. It probably is going to test 1.3275 area and 1.3400 if that trend line does not hold. It probably will pop up to1.3275 and range a week maybe. ...

EurAnalysis

well I know trendlines tend to mean nothing it seems anymore unless it is up. The nearest major bear trendline with the nearest triangle resistance should be interesting. 1.3275 It could be 3.2 before it reaches it for double resistance. Who knows. ...

EurAnalysis

I think we will jump right into the 3000 zone area with a strong move tomorrow and possibly slowly move up similar like the attached pic. Not sure we will see a drop for a while. It will hit more resistance but probably will channel up slowly. EDIT: ...

EurAnalysis

asian session probably do nothing. Should be interesting to see what London does.

EurAnalysis

I am a scalper and 1.3 is to good to pass up.

EurAnalysis