EURUSD Move Coming ?

Discussion in 'Forex Trading' started by downrivertrader, Aug 25, 2008.

  1. I know it sounds nutty, but I use a timing system for position trading currencies.

    I got concurring signals on my method on several time frames. I think we may be in for some action this week.

    The problem I have is that forecasting the direction correctly is (of course) not easy. To me, it looks like a big move down in the EURUSD is coming this week. Normally, I would expect consolidation after the big moves we have had and we have been getting that to some degree.

    I have a couple time frames to watch.

    8-25 Tonight, beginning at 7:30.
    8-25 Tonight at 11:00
    8-26 tommorrow morning around 6:00AM
    8-28 Thursday - All day with either a major trend change after the close or major follow thru on the direction ending on Thursday.

    The last time these signals lined up we moved down about 700-800 points over 30 days or so.

    Guess I will just try to be alert and go with the flow. The signal I got started on 8-21 at 12:00 Noon in the NA session.
  2. If we do start to move down 2-nite, I show about 100-125 point drop by the end of tonight/tomrrow's session.
  3. DRT - nice to see you again.

    For those who don't know him, this man is an excellent trader. He's not always right (none of us are), but you should listen to him, because he knows a lot about what he speaks. And it looks like he might be just on schedule.
  4. bkveen3


    Hey anyone who has specific times and directions gets props in my book. I listened and as soon as price action dictated took the move down. +30 already.
  5. Hi Ivan. Thanks for the kind words. Same to you. I have just been getting gray-haired.
  6. ssblack


    All my stuff points to a nice downward move again, too. It isn't the greatest on the timing, but it usually happens when this setup is here. I just hope I can get funds allocated quickly enough, lol.

    Agree on the early asia moves following through. I'll research it more and see what I can come up with as far as targets.
  7. Well, you certainly called this one DEAD on. Well done, mate.
  8. Now we are at the 6:00 AM milestone and down about 160 points. I see some big orders on the bid coming in on the futures.

    I still have clear sailing down on the EURUSD, but on the EC I see a possible reversal of direction. Guess we will just have to see how it plays out.
  9. Looks like Options Olympics are having opening ceremonies.
  10. ssblack


    DRT, I'd make a case for a yearly close where we ended 2007, in the 1.4 region.

    Next month should see 4200.
    #10     Aug 26, 2008