EURUSD

ive been fooled many times not to trade when its a bank holiday and viola.. the market moves so sexy those days... but this one seems to be the bad (or rather boring) holiday day..

you sometimes get a very lazy creeping trend, but today so far has been range bound, 55 is good, i thought i was doing ok at 30...

Plenty of news and events tomorrow, all day long
GL to you all, I think we are done for today

PS: watch out the CAD some re-tracement can appear

Yo,

Been away for a while.

Looks like and given these thin trading conditions, pair targets to break hourly swing point at 1.42614, if successfull, 1st support will be tested at ~1.4240.

Fat 15min candles are blocking trades above ~1.4290, so something is sitting there.

But nothing really drives. Maybe some surprise news drops this pair, sentiment is somewhat bearish intraday anyway.

If there are option expiries at 1.4250/1.4300...move happens 14-15 BST.

not today...

There's a 15 pips range since 6 hr ago, you can't even cover the spread if you;re waiting for a candle close.
PA can get pretty raw, there's no liquidity to defend the key levels.

better walk a stray dog...

how many bank hollydays are there, anyway ?!?

You are all thinking that...

Volality Completely Off now Look at this standing in same position nearly 5min 1.4278-79...

Reuters news wire...
30 May 2011 14:39
* Euro backs off resistance at 55-day moving average
* Uncertainty over IMF/EU tranche for Greece weighs
* Dollar index <.DXY> subdued near 2-week lows
(Updates prices, adds quote and details)
By Anirban Nag
LONDON, May 30 (Reuters) - The euro eased on Monday, pulling away from a key chart resistance as uncertainty over how Greece's debt crisis will be tackled kept investors on edge, while the dollar stabilized following a slide late last week.
With trade lacklustre due to holidays in the UK and the United States, analysts expected the euro to trade below its 55-day moving average of $1.4326.
The single currency, which was last down 0.3 percent at $1.4272 <EUR=>, also faces resistance near $1.4369, the top of the cloud on the daily Ichimoku chart, a technical analysis tool popular among traders. Stops are said to be lurking above $1.4350 with light bids seen below $1.42, traders said.
"The market is a bit hesitant about picking up the euro and take it past the mid-May highs of $1.4345 given uncertainty whether Greece will receive its next (aid) tranche from the IMF/EU and whether it can fulfill all the requirements," said Niels Christensen, FX strategist at Nordea.
"There is a bit of tug-of-war going on between the euro and the dollar with (recent) softer-than-expected U.S. data hurting the dollar."
Greek government bond yields rose and yield spreads over German Bunds widened after European Central Bank board member Lorenzo Bini Smaghi warned of the dangers if Greece were to default on its debt. He told the Financial Times it was a "fairytale" to think that Greece's debts could be restructured in an orderly way.[ID:nLDE74S0K3]
Over the weekend German weekly magazine Der Spiegel fanned fears that Greece might not receive the next tranche of its EU/IMF bailout, saying Athens might have missed all fiscal targets set by its lenders.
Greece and the IMF denied the report and EU officials said they were working on a second bailout package that will avert a potential Greek default.[ID:LDE74T0ZB]
European Union and IMF officials are expected to deliver their progress report on Greece's debt sustainability probably late this week. As that will signal whether Athens gets the next tranche of its bailout, euro bulls are likely to stay on the sidelines given the uncertainty. If Greece fails to get funds, it faces the possibility of default over the summer.
SPECULATORS CUT LONG EURO POSITIONS
Latest data from the U.S. Commodity Futures Trading Commission showed speculators drastically reduced net long positions in the euro in the week to May 24. [IMM/FX]
Still, speculators were carrying a small net long position, which meant some traders are expecting a rise rather than a fall in the euro/dollar. That was in contrast to mid-2010 when the euro zone debt crisis led to a jump in bearish euro bets.
"With more neutral positioning in the market, risk has become more symmetrical," Danske Markets said in a note. "Should the June ECB meeting bring focus back to relative rates there should thus be room for renewed positioning building and hence renewed upside in the euro/dollar."
While worries about the risk of a debt restructuring by Greece cast a cloud over the euro, a recent run of weak U.S. economic data and a drop in U.S. Treasury yields were weighing on the dollar, traders said.
Earlier on Monday, the dollar hit a record low against the Swiss franc of 0.8457 francs <CHF=> on trading platform EBS and dipped to a 26-year trough versus the New Zealand dollar<NZD=D4>. The dollar index <.DXY>was flat at 74.93, not far from a two-week low of 74.752.
"Data in the U.S. is showing growth is losing momentum and that has supported speculation of another round of quantitative easing," said Manuel Oliveri, currency strategist at UBS. "For the dollar to turn around there has to be a change in interest rate expectations in the U.S. That's unlikely in the near term."
The two-year U.S. Treasury yield dipped to as low as 0.48 percent<US2YT=RR> on Friday, the lowest since early December. Data in the U.S. picks up this week, with the May jobs report on Friday the highlight.
The dollar was steady against the Japanese yen at 80.84 yen <JPY=>, but has retreated since hitting a three-week peak of 82.23 yen earlier in May.
(Editing by John Stonestreet and Susan Fenton)
(([email protected]; +44 207 542 8399; Reuters Messaging: [email protected]))
Currency bid prices at 1221 GMT. All data taken from Reuters with percent change calculated from the daily U.S. close at 2130 GMT.
Last US Close % Chg YTD % 2010
27 May. Close

Does this surprise you?

good to see you back Z, hope all is well...

Ok the WAWE is coming take the shorts guys GERMANY and France STOCK MARKETS are FAİLİNG LİKE A HELL ): time to short gain +10 pip more

things are unchanged. worked on some audusd levels as well. not taking any trades though.

Merhaba, Büyük İ ler Y şeklinde çıkacağı için Büyük harfle yazarken I şeklinde yazarsan TR dışı insanlar ne yazdığını daha rahat anlar. Kola ygelsin.

VJKK

Hi Darimik,

if you don't mind me asking but what do you use to base where the horizontal line go?

Bit off topic, but can anyone fit a gartley to gold? Could be a clue for the dollar since I have it topping fairly soon and favour the BLACK bearish count.

Today's trade:
Short in 1.4285, leave placed stops over 1.4365. Cover at 1.4050
Source: Commerzbanks Daily Market Technicals

FXstreet.com (Barcelona) - Euro retreat from levels near 1.5000 on early May has been contained at 1.4000 area and the pair remains prone to further decline, according to EUR/USD positioning studies by the Deutsche Bank, which points out to 1.3500 as the downside limit for the pair.

EUR/USD has still more room to the downside, according to the Deutsche Bank FX strategy Weekly report, although at 1.3500, euro shorts would reach historical extremes: "EURUSD could decline another 5 or 6 big figures to 1.35 by which time EUR short positioning would hit historical extremes (less than -20%). This should set the downside limit on bad EUR news in the weeks ahead."

seems like the German banks aint to hot on the Euro rally.

i don't trade news. i don't belive in news. They are always discontinued, and professional traders use it to fake trade and capture amateurs in their game. How come that, every time before the release of an important news, technical set ups are totally ready for the move, in a clear direction...speaking out to the trader who learned the charts...
that's why my rule is : when there is a set up, i put my entry order. when not, no order. Today, everybody was expecting a low volatility in the market, that happens. But, there was a short on the usd/cad to grab pips. Market went to the pivot level, but did not break it. In case, it broke it, they would have been a nice move. we need to read the charts technical levels, candle sticks speak. And they speak louder to the informed trader....Charts are the true news to follow.....cheers



walking to profits - nice set ups to come tonight at

http://www.forexfactory.com/showthre...254704&page=30

pa now . waiting .
fontu

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