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Thread: EUR related recommendations

  1. #1
    In Profit DollarBull's Avatar
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    Default EUR related recommendations

    1. Buy EURAUD

    The pair has found a strong resistance at 1.6270 zone, in daily charts and also in hourlies.

    Buy in 1.6270-1.6285 range, set stopposs at 1.6220. If it recovers, let it run to 1.7000. If it breaks 1.6220, SHORT it downwards.


    2. Sell EURCAD

    USDCAD is heading to parity. EURUSD, even if it hits 1.50, EURCAD will be at 1.5000, giving one a change to gain over 200 pips from current levels.

    3. Sell USDCAD if it hits 1.0390. Many experts believe it is going to 1.000.

    4. Sell GBPUSD at 1.5900. UK has plans to continue QE and it will further weakens GBP. This also means EURGBP has further room to run upside. It may hit 1.000 this time.

  2. #2
    In Profit DollarBull's Avatar
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    Default

    Quote Originally Posted by DollarBull View Post
    1. Buy EURAUD
    A second chance to buy is nearing at 1.6270. Yesterday's trade resulted in an easy 100 pips. Look for hourly RSI hitting 30 and then the price near 1.6270 for reentry. Stoploss at 1.6230 and reverse since that would be below the support level.

  3. #3
    Piplet ForexPrince's Avatar
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    @DollarBull

    It is may a stupid question but why you mean it is a good idea to buy the EUR on one pair and short the EUR on another one?

    Overall i am agree with buying the EUR against other currencys. Specially against the USD as USD weakness will get stronger and stronger with time.

  4. #4
    Piplet
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    No dicussions about EUR/USD? Iam holding my longs as soon as my Price level hit

    Regards
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  5. #5
    In Profit DollarBull's Avatar
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    Quote Originally Posted by FX-Mentor View Post
    No dicussions about EUR/USD? Iam holding my longs as soon as my Price level hit

    Regards
    The long term forecast for EUR is pretty Bullish. This is because of many reasons:

    -USD is headed to fast depreciation. The economy isn't recovering and US sovereign debt levels will elevate another 20 percent next year.

    -Many EUR crosses are actually at oversold levels. EURGBP is predicted to go to 1.00; EURAUD is around its recent year lows. EURJPY is also rather low (from JPY strength). EURJPY, EURAUD, EURGBP etc may rally upwards without affecting their cross currencies (JPY,AUD,GBP), which means EUR may easily rocket past its last year highs.

    Unless US makes a quick U-turn and declare drastic hike in interest rates, USD will get trashed.

    GBP is under doubt now because of Fitch's warning to downgrade UK's debt rating. The only one that survived is EUR. Commodity currencies are following Gold and AUD may have further upside (to 1.00).

    But no easy predictions for short term trends. EUR is returning in daily chart and may have some pull back to 1.48 before returning uptrend.

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    Moderator cool user Resolve's Avatar
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