EURUSD

EURO-DOLLAR: Traders highlight the 55-day m/a line, which today comes
through at $1.3630, adding that level has provided support so far this
morning in early European dealing. Rate curerently trades around
$1.3640.

Provided by: Market News International

agreed

Indeed whatever area was resistance(1.345-1.353) will now be support

Range back in play but weekly now saying break out is likely top side(above 1.384) Only a matter of when not if

Account opened today at +55% but i have taken half off the table leaving a strong average at 1.3305



.

Cable short 1.5465 tp 1.5389, ok so far, sl +pip.
fontu

I know we don't have crystal balls to predict future direction... but it is comforting to know that you're seeing what I'm seeing on the chart...

cool im in short on gu too

i dont sweat the little moves. i know they build the big ones.

missed the break of the utl on uc shame will wait for retrace safer anyways.

I think that bullish trend is temporaly, what do you think ?

Forum rules don't let me post our blog URL even though it is free to all but here is our latest blog and hopefully it will be of help to some of you.

Time for an update! Indeed, time for some deeply vexing questions and, well it wouldn't be the same without a scattering of generalities too! A trader's life should always be busy and full. We have been travelling quite a lot; just back from an extraordinarily breathtaking Dubai and now, as we write this, we are sat on another aircraft about to leave for Alicante on the mid-eastern coast of Spain. And, throughout all this we have been trading very, very actively. The Euro and the S&P500 continue to be fantastic, richly rewarding markets. However, don't be mistaken; you cannot trade successfully by glancing at charts for 15 minutes or so, placing an order and then going swimming in the pool. If that were the case most trading floors would be lifeless wastelands, but they are not. It takes time; it takes hard work. It is a full-time business and profession.
Let's step back several days. It is the end of March. Hmmmm...what do we do next? We are positioned short the Euro. What do we do next? Or, we are not in any open trading positions at all. What do we do next? At least we are looking at the charts! Hell, what do we do next? We have listened to and read the latest news. Somebody tell us, what do we do next?
This rather convoluted meandering introduction was triggered by the fact that many of you are absolute beginners and are finding everything confusing, complicated and frustrating. We just found it very amusing and incredibly thought provoking and revealing when some of you referred to the very giant and reverent S&P500 as 'Salt & Pepper'. Don't try to rush at this. The HDTV and video releases will help you progress with rhythm and understanding – not long to wait now.
Back to the eurohttp://www.tradewavelive.com/wp-incl.../img/trans.gif
At the end of each month, you must take stock of everything, just as you would in a commercial business. Why? Well, this is the end of a natural time cycle. Do not ignore it as so many do, whether out of ignorance or mismanagement. We regularly review all of the major trading education websites and not one does this at all – we will prove how important this exercise is. (Cynically we wonder how many will start doing it now!) The most obvious place to start is the monthly chart – and you need do this only once a month provided it is done correctly, comprehensively. And, had you done this at the close of March you would have had huge signals, especially for advanced day traders! Huh! How possibly could such a yawn of an old sloth-like chart have any bearing at all on my day-trades?
http://www.tradewavelive.com/wp-cont...ro-300x268.jpgMONTHLY- The chart remains net short. The natural target is still the prior monthly low. Comparatively, price does not have that far to run now. However, this is not the question you should be raising if you are already positioned short. You should be analyzing whether, given the current and prospective price action, that level is likely to break or hold. This is a hugely complex question; in fact more difficult than you first imagine. As we have said repeatedly, there are risks flowing into this chart. These will harden on the faster charts first so that is where we should move next.
Incidentally, the level to have written large everywhere at the end of the month was 1.3266. This was the absolute low of the prior bar, which instantly meant........................
http://www.tradewavelive.com/wp-cont...ro-300x157.jpgWEEKLY - This chart is in pullback mode. As we stated in the earlier update, a close around 1.3800 to 1.3850 confirms the risks as threats on the monthly (but you need to read that blog carefully about this aspect). Not wishing to add further to any confusion or uncertainty you may have, but this chart at this time remains bearish, along with the monthly, until price moves convincingly through 1.5000. However, this picture will certainly change in a major way over the next 4 to 8 weeks. This change will only affect the weekly.
Incidentally, the level to have written large everywhere at the end of the month was 1.3266. This was the absolute low in the current price swing on the weekly chart, which instantly meant......................
http://www.tradewavelive.com/wp-cont...ro-300x156.jpgDAILY – In the Euro Update, we stated ‘The next trade on the daily is the long’ and ‘We may have another chance of getting positioned long. ‘ Putting aside the minor long we called in reply to a comment posted by Saul – see Cash for questions, the second entry long triggered on Thursday and Friday of last week. Thursday was the better entry and had everything to do with the level 1.3266. This was a low on all three charts. This was by no means an easy trade to take. You had to go looking for it based on a whole package of price action technicalities. Thursday’s was a more straightforward trigger but still tough.
We may yet see a third entry long. We certainly do not wish to see a move above the 1.3800/1.3850 level. As the action over the next few days unravels, we will aim to outline where the currency pair is heading in the immediate future. In wrapping up this blog, we do hope you have the beginnings of some understanding of how the power of Price Action and Multiple Time Frame Analysis can assist you in your trading. It was also a great reinforcer of why you must have complete control of the monthly and weekly charts – not just the daily.
Until next time.

Well its been a long time.

Here is my analysis of the weekly, daily and 4H charts:

Overall market direction: Downtrend(Weekly)

We need to break 1.3889-900 to get into a Uptrend.


Daily TF:

1.3508-15 support zone should hold. The downtrend seems broken on this TF however I wont jump in till the Weekly turns.

4H: Entry for Longs 1.35 SL: 1.3435.

I am looking to enter long if 1.3912 is broken. Before that a pending Sell at about 1.3875 with SL 1.3923.

Opinions and suggestions welcome.

Good Morning All

Got 1.36000 as line in sand for short looking at 1.3500 first. If it holds, will long...

Good Morning! and welcome to today's circus!

Yield still significantly above the 5% rate proposed in the aid package.


http://www.bloomberg.com/apps/cbuild...GGGB10YR%3AIND


Wouldn't expect it to drop to match the rate (espec with IMF funding details not yet confirmed), but the drop hasn't been as big as I would've expected.

I will be short after a 15min close belwo3598.

not bad for junk

got short at 3630 for a quick profit... 4 contracts, 10 pip stop, 2 off at + 10 pips for $250 profit, stop up to entry +1 and 2 contracts running for free...

all based in PA and momentum on the 400 vol chart.

Trade closed +44 pips. I got out here in case the gap is not going to close soon. If it goes further down I re-enter.

Dow is currently slightly above 11k...if it can not hold the 11000, € should go down as well...this is key now from my point of view.

btw. equity markets didn't show a big reaction on the Greece news