EURUSD

+ 20 scaled out, going for TP

lol...good reminder for some newcomers (and other not so new). I guess is a sign of a trader experience when overreacting with targets and direction at the first fast move in one direction.

Done with intraday shorts here at ECB conference break out point (1.388x) and a few tick above intraday S. Leaving the daily targeting the "non confirmed yet" retrace to daily S 1.376x pre oil spike.

sisse

usdx & Eurx have plenty of room now that some resistance was broken ...

NEW YORK (Dow Jones)--The euro fell Tuesday, as long-simmering anxiety about Europe's sovereign debt crisis eroded its recent gains.
For weeks, the euro has defied gravity amid anxiety about how the 17-nation currency bloc would resolve issues surrounding financially distressed countries such as Greece, Ireland and Portugal. Even as investors in bond and credit default markets have transmitted clear signals of concern, the euro rocketed to its highest levels since early November against the battered U.S. dollar above $1.40.
Over the last day, however, the single currency has been brought back to earth by a ratings agency downgrade of Greece's sovereign ratings. Meanwhile, the yield difference between Greek and German government bonds have widened, as have those of Portuguese debt. Worries are mounting that these countries may be forced to restructure their bonds, or default outright.
As a result, expectations of higher interest rates--stoked last week by European Central Bank president Jean-Claude Trichet--that have buttressed the euro over the last several weeks have given way to nervousness that European leaders will fall short in their efforts to reform their wayward economies.
Anxiety over Europe's debt problems "never really went away and it appears to be resuming acting as a drag on the single currency," said Andrew Wilkinson, senior market analyst at Interactive Brokers. "The euro is fast-falling back to earth to its pre-Trichet levels delineated by $1.3900 versus the dollar."
Indeed, the single currency sagged as two senior euro zone officials told Dow Jones Newswires that market expectations that Europe's leaders will agree on a strong and flexible bailout fund to resolve the continent's debt crisis are not likely to be met.
These sources added that proposals to beef up the bailout fund are encountering growing German intransigence after Berlin failed to achieve its own agenda for reforming euro-zone economies.
In early U.S. trading, the euro changed hands at the day's lows below $1.3900 against the dollar, compared with $1.3969 late Monday in New York, according to trading system EBS. The dollar was at Y82.50 against the yen, compared with Y82.24, while the euro was at Y114.70 compared with Y114.88. Meanwhile, the pound was trading at $1.6162 against the dollar, compared with $1.6197 late Monday in New York.
The dollar was helped by a dip in the price of oil, which has surged amid fears of a global oil shock on the heels of civil unrest in Libya. Loose U.S. monetary policy and soaring prices have made investors reluctant to hold dollars.

target acheieved.. trade closed..+30.. thats okey.. back to cricket..

nice...

flat here...done with them....bb soon, good luck PTL

Closed at 1.3890.126 pips since yesterday.
Nice rejection of the resistance yesterday, which made me more confident about my bearish side (so I let my trade running).

Here is my thinking, please feel free to comment:
We are at S2 now. I don't expect any news to drive this much further down today. Even if the price does go lower, I'm happy with what I have and don't want to give back anything.

I will now wait for NY open. I would expect a possible bounce back up from the 50EMA (4H) at 1.3878, ideally to the next resistance (at 1.394X) where I'm hoping to reload.


Any comment welcome.

B.

exactly my friend, we can pick any MA, or S/R as a target for the correction, but looking at daily, weekly, it is clear, no Trend reversal YET..

From TA point of view, just getting out of OB, or taking some profit..

[quote=Piptaker;4454898] WTF. Skyzer isn't BUYING the euro? I'm not sure I can deal with this anymore.

now its euro turn to be raped... oil is picking up some momentum to the long side

let's just see, whether they try to go for the stops below 3880. then, the intention will become clear. pierce and bounce or wham bam? I would have bet something on the assumption that they were really try hard to destroy the gartley pattern on dixy... but here we are.

Traders should be looking for opportunity to long. The pair has not given that much for a reversal.....I say bear trap!

EURUSD could find support on 1.385X area...........

exactly mate. There is still more room for intraday shorts. Thats why I left my position 1/3 opened.

eur could stop and reverse at this level if you r short scale out and leave a small position or go long against 1.3860 . as this could be a correction of abc . even if it was an impulse we need wave 4 to the upside

my rev. point lays at 3711, Daily close..

price on hourly just above 200 ema

Waiting 1.394x to reload shorts tomorrow