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Trend is down at this point imho. yes its choppy, but we have a huge bearish impulse (high of 08 to low of 08) with a harmonic retracement to the 78.6 fib of that impulse.(didn't quite make it but close enough.) the new low of this year confirms this. I'm already careful with my longs on the eur because I'm anticipating a bearish turn around 1.39 (61.9 fib) or 1.45 (78.6 fib). on the fundamentals side, gold is overvalued imho, and us stocks are far overvalued, they've been rallying on nothing but hot air the us's economic situation is not improving and when this stock bubble bursts it will take real estate values into even deeper decline. anyway thats what I think, I'll be short eu when it gives a nice signal to do so, but I wouldn't take any long term longs at this point. Many pips to you Dudley.

..eu/usd still in a ''bullish market condition..200 day ma approaching on weekly chart

i think that e/u still has room to go higher, especially with many people being bearish on the dollar. eventually though, I think that traders will jump back to the dollar if the euro zone shows fundamental weakness and more debt problems. 

I guess it depends on how long a time frame you're looking at. I don't know about the weekly charts, but on a day-to-day basis, I think the euro uptrend isn't over yet.

It'd probably be a good idea to buy on dips and sell when it reaches highs. I've had moderate success with this in the past couple of weeks. I'd probably be doing a lot better right now if I were able to capitalize on all the opportunities that came up in the past 2 weeks. Good luck, man. :)

Amendment: I was specifically referring to the weekly. just to clarify.

i was stopped out going long with this pair, despite 135 pips S/L
 hoping for my first 500 pips ride

Dudley,
i would no longer throw too much of my account into a single trade idea.

Your "$100 for anyone" could be expensive:
one opens here
 ten fake accounts suggesting you go long
 ten another fake accounts suggesting you go short

:-)

Thanks everyone for your comments.  As you can see, there is no agreement of what the trend is.  However, I think Rjp has hit it on the head - it depends on which timeframe you are looking at.  Looking at the chart, I can see 3 trends - Long term = up; Medium term = down; Short term = up.  As a daytrader/short term swing trader, I will only be looking to take trend trades based on the short term trend.  I think this short term trend still has some more up move in it, but will only take a long trade after a retrace and not a breakout as you will be risking less on a pullback rather than a breakout.  I am still hoping that we will get a retrace back to 1.3400, but I have been waiting a few days so far.  However, I am aware that the dollar index is approaching a demand area on the daily timeframe, so I will have to take that into consideration when making the trade.  I do not listen to fundamentals, so any news coming out this week will not affect my decision.  You may get news that will seem to be the catalyst for any move, but it won't be the news, but pure supply and demand. See the 2 dollar index charts.  The second one was posted a couple of weeks ago, and the first one is current.  As you may see (not very clearly), I am expecting a reverse or a very large retracement of the dollar index when it reaches around the 76.75 level.  So if the Euro is at a medium term trend supply level at that time, then I would be looking to short it then, but in the short term, I am still looking for longs at pullbacks.

 

AS OF 04/10/201018:00-4:00 GMT

 

CHART  EUR   USD

8HR      110%  -90%

4HR       20%   -20%

2HR       -4%    4%

30MIN    -3%    3%

LOOKS LIKE IT TRANFER IS AT THE 3HR CHART