EURUSD

If you are tracking EURUSD, price action on the pair has retested last week's high (marked by green line) and rejected it with a bearish pinbar on the daily time frame. As a swing trader, I will see this as a set-up for a sell trade on short-term swing trading basis.

I may be wrong. Trade safe and prosper.

KP

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Euro/Usd has blown my micro account this week I’m still learning but prefer to trade on micro accounts rather than demo.

this week I tried new system, signals lagged and I was maxing the leverage out.

ive learned from my greed, backs to good old fractals and ichimoku for me, combined with candlesticks.

Look forward to following this forum

At least you said the true and are not lying for yourself. Good luck .

Does a bull still run after getting its head chopped off? Apparently, that's what it did last week. But it looks like the downtrend is resuming this week.

Sell at Daily close level SL 1:1944

EURUSD started be in the range. now I'm waiting for retest yesterday provocation and after that movement to new minimum

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carry on , anyway a sharp raise & fall likely from 1.1814 or 1.5531 breaks down , later is most probable as they all take more time to finish correction also . take care, fontu

Ready to buy more short at 1.1963.

The euro bulls are once again champing at the bit after the President of the French central bank Francois Villeroy de Galhau yesterday signalled his support for an end of the ECB asset purchases at the end of the year and also commented in more detail on the timing of the following rate hike. In his view this will follow “quarters and not years” after the end of the net asset purchases, and as a result EUR-USD once again approached the 1.20 level, even if the exchange rate eased off from these levels during the course of the day. That means the ECB’s communication chaos continues, with the comments of dovish members of the ECB’s Executive Board such as Villeroy contradicting the ECB’s official line, as at its meeting in April the central bank had once again signalled quite clearly that it first wants to see a rise in underlying inflation before it would be justified to withdrawn monetary policy support in the shape of asset purchases.

It is quite surprising that the ECB doves in particular are taking such a clear stance in their communications at present. Usually this would have to be seen as the sign of a coordinated communication offensive with the aim of controlling market expectations. That would not only point towards an imminent end of the QE measures but also towards rising interest rates, which would indeed justify a stronger euro. However, our economists do not see any sustainable signs of core inflation rising until year-end. And as the ECB has not officially taken a decision on its future approach, the data would have to confirm our expectations exactly at the time when the decision is due in a few months’ time. In other words: if our economists turn out to be correct with their projections, which seems plausible in view of weaker economic data, the conditions the ECB has given for an end of QE and above all for imminent rate hikes will not have been met, when the decision about the future approach is due in September. That in turn suggests that the euro will weaken over the coming months as the likelihood rises that the ECB will have to back-paddle following Villeroy und Co.’s optimistic comments. Tomorrow’s speech by ECB President Mario Draghi might provide some illuminating insights. Until that happens the euro remains sensitive to real economic data which in turn should reduce its attractiveness, while the Fed continues to hike interest rates over the coming quarters more or less on autopilot thus providing support for the US dollar.

The predominantly quiet trade in currencies provided brief breather from the pressure in EUR/USD although remained firmly below the 1.2000 handle and later extended on lows as US yields rose.

Option expiries of note for today's 15:00 BST:
1.1775 (0.408 BLN), 1.1940 (1.1 BLN), 1.1950 (0.886BLN), 1.1990-00 (1.3 BLN)

Have two strategies in line for the EUR/USD, one to short @ 1.2049 with a target near 2018 low @ 1.1829 and the other to go long near 1.1829 with a target @ 1.2049. Until then I am on the sidelines waiting.

Just went long at 1.19 18 SL @ 1. 19 07

I think we have to wait for economic data to see some movement.

Till than some scalping.

Sell for new lower low SL 1:1890

Stoped quite fast... It was a reasonable point to expect a turn around.... BUT the market decided otherwise.....

Only few pips and I will be very happy

cant help it, bought again 1.1832

probably no correction spike here & so hold & be cool / anyway once at 'be', it is always cool to see only. will watch next stop 1.1716. anyway big resistance ( say for sharp spike up & down )coming by days/weeks , say eu 1.1553/1450 ,audusd 0.7113 ,gold 1270 /45 .take care , fontu

Long at 1.18 21 SL 1.18 20 now

Sell 1:1872 SL 1:1888

SL @ 1.18 30 now...