EURUSD

Good luck to you too mate

I like to hear about volume. You are the 1st talke about it.
I agree. I expect to move down too.
but what is changed? Only we crossed pivot zone and we are above its high. Volume is some more, but not serious.
Meantime eur came back to pivot zone.

Just made a right schoolboy error! Bought at 1.3930 as believed it had broken the resistance at 1.3915 area and aiming for 1.3950 but it's bloody zoomed the other way lol. Oh dear

SL just below daily pivot at 1.3902

Fortunatly it didnt cross my daily EP indicator yet... maybe it can go south

I am long usd chf 1.0580

looks like fake breakout..... serious pinbar on the hour at resistance

I'm also there. Price bounced from upper trendline of the channell. If USDCHF goes through 100MA on 5M I guess we'll have our bearish PA back, that's my confirmation.
Any comments mate???

Market has been acting tricky like this good data out it goes up triggers SL on shorts, which is most peoples positions, then starts moving south, just like last friday's 8:30 data release, f...in pro's at work wiping ppls accounts

this. im with you. gl


@kilalik for which price are you looking for?

Ah, nice. Just a few more swings and we can consider downwards movement again.
This is H1.

No kidding, evil pinbar! Oh well, live and learn. Although I'd still take the trade if the same situation played out.

Anyone spot my error?

Thought process- EU trending nicely on 15 min for most of London session.

Caught in a range and considered the 1.3915 break a decent move to the upside towards daily R1. Placed SL beneath short term support.

As i said today will be broken that trendchanel,you will see

wow... price almost touched resistance at 1.3945...


a good place to short! or wait for the coming news...

euro 1H chart. long signal.

Man you're so mean!! LOL!!! I really hope not dude. If it happens, my dear friend SL we'll take care of that. Besides I'm still waiting for further confirmation to load my shorts, it's a complicated session so far for Euro trading.
Question for you: why are you so confident DT is over? Or you think we're in some kind of a correction wave??
Tks!! Mean man!!!

Look i just want to help guys wich open sell when Pivot and M1 broken H4 closed above previuse 4 candles...Trendchanel is ok but dont expext that everytime you can see bounced from that chanel...i didnt say to you,i said to everyone wich open sell now,45 minutes before news...

I didnt say downtrend is over but for today is over for me...


Cheers

Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--The fiscal crisis in Greece has helped to generate the heaviest bout of euro selling since the darkest days of the financial markets crisis, according to a widely watched measure of speculative bets.

The weekly Commitment of Traders report, released by the U.S. Commodity Futures Trading Commission late Friday, showed that speculators were selling euros at almost the same pace as in September 2008, when the collapse of Lehman Brothers triggered a huge rush to the perceived safety of the dollar.

This kind of selling frenzy is rarely sustained for long in the currencies markets, so the figures may offer a sign that the euro could make a brief short-term recovery. Still, the data act as a blunt sign of how big an issue the fiscal crises in some euro-zone member nations have become in the currency markets.

"This reflects the expectation of many traders that the situation in Greece could get out of control and the country could default on its payments," said currencies analysts at Commerzbank in Frankfurt.

The CFTC said that in the week running up to last Tuesday, speculators on the Commercial Mercantile Exchange boosted their net number of negative euro positions in the futures market to nearly 40,000--very close to the record volume of bearish euro wagers seen in mid-September 2008. Meanwhile, positive bets on the dollar grew.

Over that period, the euro tumbled by some 2% against the dollar to trade at around $1.41. The single European currency has since fallen still further, sinking towards a seven-month low at $1.3851 early Monday.

Greek state finances have been dragging down the euro since December, when the government revealed that the country's budget deficit was much bigger than expected, at 12.7% of gross domestic product--more than four times the level permitted under euro membership rules. Credit rating agencies have threatened to downgrade Greek bonds unless the country's spending gap can be fixed.

Direct bailouts by the European Union or the European Central Bank are barred under the rules that bind the 16 euro-zone member nations.

Still, that hasn't prevented talk of a bailout from repeatedly gathering pace and collapsing again in recent weeks, pushing the euro nearly 8% down against the dollar, and also 4% lower against the generally struggling pound since early December.

The fresh rush of euro selling last week shows that the Greek challenge to the currency is being taken increasingly seriously by traders. Initially, most of the focus among economists was on the chance of a bailout for Greece. Now, though, analysts and investors are looking further ahead to the drag that this issue might impose on the euro zone as a whole.

Even if Greece manages to slash its budget deficit and bring its shaky economy back into line with the stronger euro members without a bailout, "a deep adjustment recession [in Greece] would be unavoidable," Commerzbank said. Other euro-zone nations could be in a similar bind, the bank said. Indeed, last week, Portuguese budget stresses contributed to the euro's fall.

In the longer term, it will be tough for the ECB to raise interest rates--a step that would boost the euro--as some euro members recover well while others struggle. As sentiment on the U.S. economy brightens, that builds a neat case for dumping euros in favor of dollars, as speculators are clearly doing.

The next key test will come Wednesday, when the European Commission is due to issue a report on the new Greek stability plan.

The euro's recent drubbing could have an ironic twist, however. Such splurges of selling in a particular currency rarely last long, leading analysts to suspect that the euro could be set for a short-term turnaround.

Negative sentiment on the euro among speculators is now "very stretched," said Mitul Kotecha, head of currency strategy at French bank Calyon in Hong Kong.

"[That] holds some hope of a potential short covering euro rally, but for this to happen it will need a modicum of good news, and unfortunately this is in short supply," Kotecha said.

At 1200 GMT Monday, the euro was trading at $1.39, according to trading system EBS.

These are not true price levels, if you patient you will see that bears will return, this is BIG PLAYERS weaving out impatient traders, took +50 pip on my long A/U waiting to see what happens next for that pair, most likely shorts but not yet....

And on OBAMA's upcoming speech, what are the opinions on the deficit numbers and how they will affect the market...

Still don't believe that this uptrend will continue... still think it's Big Players set up to get in their short positions before the 10am EST data release that will be followed by OBAMA's speech 45 minutes after that... If not I will still hold my short, since it 10 per pip trade... if not then take a loss

Might try and exit for B/E. Pretty nervous of this trade and a nervous trader is a bad trader imo.

Bull is still playing in eu & 1.3850 was also good sr at the same time 200ma support in weekly caused this small bull & gold was on daily tl having amount of reaction negligible so far . may not sustain for long time . I consider it a profit taking effects & should come to the track.
Thanks , fontu