I haven't got a clue!

Exited 2943 for 2. The daily technical indicators are bearish but are close to supports. ST consolidation; MT bullish. I didn't want to get caught out but as I type it's now at 2935. Still holding 2 short.

Exited 2936 for 12.

Central bank sales of GBP helped drag EUR/USD lower in sympathy, but notable buying interest in the 2920 area. EUR/USD now rebounding modestly.

Yes Mike, but I didn't regard it as stupidity. And I still appreciated the post. I also thought you may have been referring to your view on potential movement for this month. I took the post for what it was either way - an offer of help. And I need all the help I can get. Sir, thanks for dropping by.

Hourly studies have fallen toward O/S readings but still have space.

3 long 1 short with open loss of $462 and margin level 251%. 24 closed pips today but it could have been so much better.

Overall I'm bullish and don't want too many shorts to get left behind when we get out of this consolidation. And I really am happier being net long. The earlier part of the day where I was net short was more difficult for me.

A quick 10 pips?

Patience is not my strong point. Exited for 5.

... is 5 pips! Still short on 1 though.

And I hope it doesn't hit TP. Why Oh Why? I'd prefer it to go in to a massive loss. Am I stupid? Maybe, but I just haven't a clue.

Oh dear, it's broken below a bullish channel support. Here we go again for a possible margin call. Margin level 232% and we again are near the limit I'm comfortable with.

http://www.tradingcentral.com/chart/...0116175122.GIF

It's hard to believe a 70.6 ZEW current conditions index is not enough to keep EUR/USD aloft for more than a few hours.

Will the 2918 hit TP. I hope not.

I havent got many. But as I'm net long already my rules say I can't add to my 3 long. When - or if - my open loss reduces to $200 because of the account growth I will increase the maximum to 4. But not yet - it's currently a $500 open loss. Still rules were meant to be broken - well, we'll see. I'd love to go long again now.

Wow. So many page views and so few posts by members. I won't bite you know! We're now nearly in the Top 20. Thanks to everyone who drops in.

We gotta stick together or the 4X sharks will get us. It should have happened ages ago to me but Lady Luck is on my side at the moment. Nice to see you're spending some time here. Have a great week sir.

EURUSD is in no rush to bounce back after slipping as low as 2910. Prices have spent the bulk of my afternoon consolidating in 29 teens with the greenback underpinned by falling oil prices once again. A US money centre name was a good buyer at the lows, helping stall the slide just a few pips below the 61.8% retracement of the 2868/2990 rally.

Looking ahead to tomorrow, industrial production and TIC data will be the highlights. Industrial production is seen rising 0.1% while anything above $60 bln will not cause any waves for the TIC data. With the current account and trade deficits falling, funding the current account gap is becoming less of a focus for the market. I'll look to take advantage of any USD drop on a monthly short fall in the TIC surplus.

Well, if I had gone long above it would have got me another 10 but the exposure would've been too great because I'm net long already with a massive (in terms of pips) open loss. A little bit of risk management there? Surely not? Oh well at least I'll be here tomorrow. That's it from me today ladies and gents. Stay safe.

Support has formed at 2905/10 and there are stops below 1.2900. A break back above 2945 would return the pressure to the upside. The moves in oil prices will still influence the EURUSD, but EZ inflation followed by TIC data, IP, PPI and Housing data could cause some fireworks later today.

The PPI numbers come out of the U.S. We have four numbers, two monthly numbers and two yearly numbers, two core, and two headlines. My focus will be month over month core PPI, which is also known as less food and energy. The expected number is to come out somewhere between 0 to 0.2%. If the monthly core PPI comes out at 0.6% or higher, it would be good for the dollar. If the number comes out at -0.4% or more negative, it would be bad for the dollar. The move will depend on the market sentiment and important price levels before the news, but if everything is in-line, I am expecting a move anywhere from 30 to 40 pips. That's of course assuming that annual numbers and headline numbers don't conflict.

Then we have the TIC report coming out. This is a federal report that measures number of ticks (or small nasty animals) that the government employees have. A reading above zero means that the number of government employees with ticks exceeds the number of government employees without ticks. The higher the number, the better it is for the U.S. economy, because the more ticks the government employees have, the more irritated they get, and start wars, which is usually positive for domestic manufacturing of weapons and other durable goods, therefore is positive for the U.S. dollar. The expected number is at 75 Billion. If the number reads at 115 Billion or higher, it would set a new record high in the last few years, so it should be positive for the dollar short term. If the number comes out at 25 billion or lower, it would set new record low in the last few years. We'll be very lucky to get a 30 pips move out of this one. Be careful, don't hope for much more than just a quick spike.

Then we have Industrial Production coming out of the U.S. The expectation for this report to come out somewhere at around 0.1%. If it comes out at 0.4% or higher, it would match the highest reading since June of 2006. If it comes out at -0.2% or more negative, it would be the second lowest reading since end of 2005 and bad for the dollar. I am expecting a move of at least 30 pips on this one, assuming that there are no strong price levels or some extreme market sentiment to prohibit such move.