Trading EURUSD only

Great job on the new post layout FF, copy and pasting pictures? Genius.

Euro is at a key zone right now, London liquidity is super important on the 1.30 zone. No reason to switch from a bearish bias unless that breaks from this angle. Time to get out of this range either way... Below is the spot pair and the the corresponding U.S. Exchange traded ETF. Both point to a critical resistance:

Some charts with target ideas here: https://www.tradingview.com/u/ross-jaklik/

Hello all,

this is an update for the Euro.I am also providing a view of the major swing levels I am following with the meaning I attach to them. Hope it is clear. Should you have any questions do not hesitate to ask.

The area between 1.3240 and 1.3357 is a short area. Here bears were clearly interested in selling. Their continued action was able to keep moving price down into the support area below. Bears will be gone if price moves above 1.3357 (level c). The short setup has targets at 1.2530.

The area between 1.2910 and 1.2800 has acted as a support for prices twice and we cannot exclude it will act again as support, but we cannot be certain. That area of demand will only disappear after price moves below 1.2714 (level b). Target for all the participants in this area of support is 1.41. Such target will only be confirmed if we manage to move above 1.3358 (level c).

Attached Image (click to enlarge)

http://www.forexfactory.com/attachment.php?attachmentid=1204643 &stc=1&thumb=1&d=1370019088

Today bears defended the next measured move lower, from May 1st highs to mid-may lows and this is a sign they are still around. Particularly they defended the 1.3078-80 level (level a). Above such level there would be the high probability of retesting the 1.3240 area, the short area for the bears and possibly the challenge to the 1.3357 (level c). On the other hand if price stays below 1.3080 (level a) and moves below 1.2715 (level b), the target for the bears will be confirmed at 1.2530.

So still everything is open in the Euro and I will wait the current situation to resolve before committing on the long side (I am still short and I will be below 1.3078, as mentioned yesterday). The levels to watch on the daily/weekly are those specified (a, b and c). Those levels are not going to change whatever price does, and you know the meaning I attach to them.

Hope this helps. Later on on the blog I will post a video featuring both the Euro and the Dollar Index.

Chat to you later

-fibstalker.

The ISM manufacturing yesterday was particularly negative and made us understand what will happen to the dollar if the Fed does not remove the QE.

Great expectations tonight for the Beige Book of the Fed and tomorrow the day of the ECB. The central banks will be the real market movers in the coming days.

All oscillators in overbought before the ECB. Trying the short EurUsd is not a bad idea.

Unbelievable ECB. It tells us that the economy is going to get worse, that the credit does not circulate, but does not decide on any expansive measures. As a result: the change inevitably becomes stronger.

The market is awaiting for the judgment of the German Constitutional Court on the decision concerning the anti spread shield of the ECB. At 1.3285 wave C = wave A on EurUsd; rising above it would mean 1,358.

EurUsd: at 1.3343 the retracement of the 61.8% of the fall started in February 2012. Last call for the Euro, beyond this level it rises to 1.359.

my outlook is also going a bit higher to 1,4....

Hello

where is steve, xandi, mok

i dont see their post here

Steve and mok1 left, see steve's profile.

Xandi is still around, been posting in AUD threads of late.

too bad

but is this thread still active

who is manage this thread now

A clear divergence for EurUsd on the intraday charts. The Rsi is falling and prices are rising.... I think that the resistance of 1.334 will show its strength.

On a weekly it looks like it can reach 1.3640...