13 Responses to “EUR/USD - Majors in Consolidation”

1. on 16 Apr 2009 at 5:15 pm1Mark

   Hello Mr. Chen,

   When do you think the EURO/USD will break out of this range trading and give us some real direction?

2. on 16 Apr 2009 at 5:54 pm2James Chen

   Hi Mark,

   That’s a great question. This pair has been consolidating for quite some time now. I’m looking for a substantial break of this consolidation very soon, and my bias is bearish at this point. Thanks, Mark!

   James Chen

3. on 16 Apr 2009 at 6:26 pm3Mark

   In your opinion do you believe a good entry zone to sell would be around 1.3080 or in the range the market is in at this time. I guess either way would present a large amount of risk.

4. on 16 Apr 2009 at 7:43 pm4maxu08

   I will bet on bearish, too. The pair has no power to break 200SMA and for that reason it will go bearish. of course, if there is no important news, although i can’t imagine such important news

5. on 17 Apr 2009 at 12:07 am5Sam

   Mr Chen, please forecast what is upcoming on today (Friday) for the pair. Would it possibly break 1.3100, just an opinion indeed?

6. on 17 Apr 2009 at 6:21 am6Reez

   Dear Sir,

   As expected, the eur/usd will drop till the 1.31 zone. But will it go futher down below 1.30 zone?

   Many thanks

   Regards,

   Reez

7. on 17 Apr 2009 at 1:38 pm7James Chen

   Hi Mark,

   Thanks for your follow-up question, and sorry for the late reply. I guess the question doesn’t really apply now, but I usually wait for a break of support/resistance before entry, plus an entry filter. Support was broken, but bearish momentum doesn’t seem exceedingly strong at this moment. Thanks again, Mark.

   James Chen

8. on 17 Apr 2009 at 1:39 pm8James Chen

   Hi Maxu08,

   THanks for visiting and for your comments!

   James Chen

9. on 17 Apr 2009 at 1:40 pm9James Chen

   Hi Sam,

   Thanks for visiting, and sorry for the late reply. As you know, the pair broke 1.3100, but seems just to be wavering just below at this point. I will post analysis on this pair soon. Thanks, Sam!

   James Chen

10. on 17 Apr 2009 at 1:42 pm10James Chen

    Hi Reez,

    Thanks for visiting and for your question! The next big target to break is the 1.3000 zone. Not sure at this point, though, if there is enough bearish momentum to break that level. I will post more if any significant price action develops. Thanks!

    James Chen

11. on 17 Apr 2009 at 3:57 pm11Reez

    Dear Sir,

    Thanks for ur reply. Appreciate it most.

    What will be ur advice / views on the market right now ?
    Will be waiting for ur new post.
    Thanks.

    Regards,

    Reez

12. on 17 Apr 2009 at 7:07 pm12James Chen

    Hi Reez,

    Thanks for your follow-up. Price has gone all the way down to approach 1.3000, but it looks like that’s going to be pretty much it before the weekend. I’m looking for significantly more bearishness on any potential break below 1.3000 next week. I’ll keep you posted on more analysis for this pair then. Thanks, Reez!

    James Chen

13. on 18 Apr 2009 at 8:36 am13Reez

    Dear Sir,

    Thanks for the input.

    Have a nice weekend.

    Regards,

    Reez

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