PsychoAndy posted:

to add to this, i don't trade fx, but it seems like simple TA stuff can be applied, like support/resistance. Currently google finance shows EURUSD at 1.3866. So if you look at the last time EURUSD was this low, back in June/July 09, if it were to go lower you would see support at 1.3851, and then 1.3787. If EURUSD breaks 1.37, next stop would probably be 1.3671 to 1.3474, as shown in May. Obviously if you're trading a lot with a notional value of $100k, the pips add up.

To jazz it up a bit, you should also look at volume, moving averages, trendlines, and apply fib levels to the support/resistance and whatnot.

Or you could just use fundamental analysis and ask yourself whether you think Greece is going to get a.)bailed out, b.)default, c.) cut their spending, or d.) lie about their books again. If you think A or B have a high likelihood of happening, sell EURUSD...which is what's been happening since people are worried about Greece, not to mention other high debt/gdp euro countries such as Portugal, Italy, Ireland, and Spain.

I'm also looking at GBPUSD, as it's currently trading at 1.5992 and seems to be at an inflection point in that (to me) it seems like GBPUSD is either going to drop to 1.58 (support) or trade back up to 1.65 (resistance). Gun-to-head, I think it's going to 1.58, just due to the end of QE as well as Bill Gross speculating that UK Gilts are resting "on a bed of nitroglycerin".

edit:but like i said, i don't trade fx, so don't go to a bucket shop or something and start a 200:1 leveraged fx account