You've been on quite a roll with your last few picks and given the current climate I think this will be a winner as well. On your entry points, do you set up a market order and wait for it to hit or do you look for a good entry point via a shorter term chart?

Hi pipcrawler, will you consider 1.2900 as a possible TP point too? I got in the same trade as you too. But i am aiming for 1.2900 instead of 1.2800.

Hello pipcrawler, could you please clarify the meaning of "risk aversion" ?

need a strong stomach...

Hany Egypt,

Risk aversion = avoiding risk

The Euro dollar is considered a higher yielding currency compared to the USD.

So when the market is in risk aversion bias, it means traders/investors try to avoid risk by selling higher yielding currency (EUR $ in this case) and buying in less risky, lower yield currency (USD in this case).

I hope I helped abit. Anybody out there who knows better, please feel free to correct me.

Cheers!
Suki

Hi pip
Strange day nothing for sure my eyes got red.
Hit 1.30 4time and 1.3070 and still hanging refuse to drop, closed my position and now watching....
where it's going grrrrr

Well... it should have run out of beer.. erm.. steam now, since hitting resistance at 1,3070ish. If techies are dominant now it should head for the ground again...
Lets wait and see, maybe we are in luck :)

zzzzZZZZZzzzz, I guess that goes to most the pairs,However, the NZD/USD was interesting.

Ok let's see short@1.3055 SL 1.3125 Above R1
Hope it works
By the way if we draw FIB since eur/usd start take top and low we will find we r now at 38.20 fib.

I think it's no more range bound now, passed 1.3150. May be it's time take a look at the 3 months graph :)

I agree with GreedyPiper, 1.3300 looks like a next target. In the view of the low volume, dollar being bitten hard with a stick I think 1.3300 to 1.3500 is possible, before everybody realise that European economy is tanking more that thought. All indices came yesterday and were ignored as the capital is thin, positions are closed before year end so the movements are range bound and chaotic. I think the S/L 1.3200 will be hit easily today/Friday.

Upps sorry I didn't support the previous post with data so looks I may talk baloney. Previous range high (it's still the range although Euro is ranging for more than a month) is 1.3296 at 26th October-that should be tested pretty soon. There is trendline resistance at 1.3475 (downtrend, line from July highs) which could be tested, price action is now above 50 EMA so there is some upward momentum in the pair. My longs are already bringing first pips. :-)

OK HIT R1 AND NOW R21.3165 AND R3 1.3259

Do you guys think It would be worth moving the s/l a little so we don't lose the trade? are there any chances for it to still hit the profit target?

sebastianmacias, I don't thik it's a good idea. I closed my trade last night when it came back to 1.3 with +10 pips because going against this sort of trend is suicide.

Well,There is always another chance.

Pip can you please check my post at 22-November,I really looking forward to your reply.
http://forums.babypips.com/fundamental-ville/18137-us-bull-till.html#post80041

Pipcrawler its all good brother!

This pair has been totally crazy lately and I think that rally really surprised a bunch of ppl. Myself included, I took a nice hit, though I was less conservative in my money mgmt.

Neways stochs are still higly overbought, so maybe there will be an opportunity to short soon...either way I'll be on stand-by watching for your next move!

Pipcrawler any ideas as to what next week will bring us, are we looking at big jump up in eur/usd or side ways as its been between 1.33 and 1.34 for friday or will it be moving lower to the 1.31.
How will key events such as possible opec cuts, fed cuts and some sort of auto bailout effect things?