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Spider's Den

Loads of US economic data today, can't expect all will be rosie.

Counter-trend USD day?
Quoting [email protected]
EURUSD is currently in retracement rejection from 1.1100 zone. 1.1270 zone could be good for short term trades but bear in mind that 1.1200 is now interim support. So to further go down 1.1200 should break, but intraday momentum is still high to the upside. That leaves a potential for 1320-1330 (next zone for short trades) in the case 1280 breaks. 1.1035 should be the target then but ATR is big on EURUSD ( caused by fundamental shifts ) so pay attention to 1200 and 1150 in the case of rejections from POC zones. {image}
+50 first rejection + 40 currently on 2nd POC rej.
Quoting PariCovek
Loads of US economic data today, can't expect all will be rosie. Counter-trend USD day?
There should be some correction yes. I already closed a part of EURUSD sell. Latest comments from vice Chairman of SNB gave additional momentum to EUR pairs. Did u catch some movement on EURUSD?
Quoting [email protected]
{quote} There should be some correction yes. I already closed a part of EURUSD sell. Latest comments from vice Chairman of SNB gave additional momentum to EUR pairs. Did u catch some movement on EURUSD?
Yes, took a few green pips on the way up... Thought the counter-trend trade was a bit risky so pulled the plug early. I prefer to go with trend.
Quoting PariCovek
{quote} Yes, took a few green pips on the way up... Thought the counter-trend trade was a bit risky so pulled the plug early. I prefer to go with trend.
1270 and 1330 were good for trend entries. Now we need to see whether the price will switch to a "deeper" correction on intraday charts. I have my stops at BE now, took some profits from both of those drops.
Quoting [email protected]
{quote} 1270 and 1330 were good for trend entries. Now we need to see whether the price will switch to a "deeper" correction on intraday charts. I have my stops at BE now, took some profits from both of those drops.
What is your target on EUR/USD?
Short EU from 1.13100 stop 1.13500 target 1.1150
as soon as there is enough space will move stop to break even...
Some economists now expect the US Fed to hike rates later in 2015 (as opposed to Mid-year)
http://www.marketwatch.com/story/dou...any-2015-01-26
Quoting PariCovek
{quote} What is your target on EUR/USD?
Should have been 1100, but as momentum is switching to the upside, i already took 40 pips ( scaled out ) and stops are on BE now.
Quoting PariCovek
Some economists now expect the US Fed to hike rates later in 2015 (as opposed to Mid-year) http://www.marketwatch.com/story/dou...any-2015-01-26
Yes, they align their politics with ECB.
Quoting [email protected]
{quote} Should have been 1100, but as momentum is switching to the upside, i already took 40 pips ( scaled out ) and stops are on BE now.
NY Opens soon... Looks like it will be a battle
As presumed, momentum switch. Its called MM. When u hit +80 pips from 2 setups, why would u want more? Patiently wait for another chance.
Most Equities markets are down today... Gold going to the heavens
Yes we had a momentum switch. Thats why i advised taking profits from EURUSD trade.
Looks like EUR can go higher.

US earnings today was poor. Gold soaring
Quoting PariCovek
Looks like EUR can go higher. US earnings today was poor. Gold soaring
Earnings bad but look at Home sales and Consumer confidence. Strong numbers.
What do you think mr T? could eur/usd go to 1.1780-1.18... maybe it's time to look for longs this week?
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Quoting justiniuxas
What do you think mr T? could eur/usd go to 1.1780-1.18... maybe it's time to look for longs this week? {image}
Not sure. it might be a dead cat bounce. The maximum i see it is 1520 then another drop or the drop may have started...We need to see daily close also.
T. do you mind if I have a go on an analysis ? It will help me know if am learning anything

EUR-JPY trend is down & we have a confluence between 61.8 fib & H3 Short @ 134.6 with SL @ 135.05

thank you
EURUSD has formed a bullish daily pattern and broke through 1400 and in the context of intraday trading we can assume intraday is bullish. 1300-1325 is a POC confluence zone. If the price gives us a proper pullback we could start searching for long opportunities. Target for the move is 1465- bottom of the flat bottom triangle and resistance and if it breaks 1490. Longs are invalidated below 1252.

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