EurAnalysis

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I don't think BoJ is pushing the pair any "higher"

Japan Fin Min Azumi: Watching markets with great interest

Do I have the top?

I think it will take more than a low volume Frankies Hour shake-about spike to put in a top.......TWT

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Good morning ladies and gentlemen,

Price is consolidating. Those of you who use bollinger are probably looking at bollinger squeeze, if drawing trendlines, there is trianguloidsomething forming and we are heading to its end.

I am still holding my shorts, poor guys are currently underwater, but will be in + in an hour as I assume ranging will continue.

If price wants to attempt to charge 1,366 level, she needs to take some speed first so I expect at least retest of 3582, where I will cover some shorts. If broken, I hope it will dive to oblivion, where EUR belongs.

Good luck to you today,

T.

EDIT: Phew 3666 hit. I had so many pending orders there I actually moved market down. Anyway, If it charges up now I am going to get seriously burned for 2% which is totally agains my money management. Poor greedy me absolutely believing in doom of EUR. Well, we shall see what happens. I still believe Bear will prevail.

Good morning all.

It has certainly been an interesting week.
Loads and loads of headline news moving markets but all seem to have settled a bit now. It's not over yet but at least the market is taking a bit of a breath.

Italian bond yields have receded a bit but are still hovering above 6%
A replacement for Berlusconi has not yet been chosen, although Mario Monti seems to be in the running. The news on this is still developing and we will just have to wait and see what the final outcome is and how the market reacts to it.

Clearly, Mer-k-ozy, for the first time in a while are tight lipped. This is probably because they realize that they have significantly contributed to the current state with their mindless drivel. It's time to shut up now before they cause any more damage. Just let the market sort out itself.

On the charts, 1.3650 area has provided fairly strong resistance yesterday and has served very well many time in the past as strong resistance as well as support. It will prove difficult to break it to the upside today but not impossible. With the US Banks closed, the resulting lower volumes may very well allow for its break depending on how the European markets perform.

If price does manage to break upwards, I am projecting the daily R1 resistance level of 1.3680, which coincides with the 50% Fibo level of the move down from 1.3858 to 1.3482. The next level up is the 61.8% fibo level at 1.3715. Daily R2 resistance is just above that at 1.3750.

To the downside, major support comes in at 1.3580 which is the daily pivot line. I doubt very much we will see that level today. However, I do not possess a working crystal ball so I will leave it as a slim possibility. Below that we have daily S1 support at 1.3510, yesterday's low at 1.3482 and daily S2 support at 1.3410

In consideration of all the above, I have moved my sell limit order from 1.3690 to 1.3710
I may move it again depending on how the day develops, but even if price extends beyond that level, I am still comfortable shorting there.

Trade safe everyone.

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4H outlook - next 1.369 - 4H breaking down support @ 1.3590 now - We might still pushing up again before going down - London has give us a sign now

ECB Buying Bonds Again

EUR/USD back up again after attempting to run down through 1.3600, but reports that ECB is back in the market buying BTP’s through the SMP gives euro a lift back through 1.3650 to 1.3669.
May well be some stops through 1.3670, but have heard for sure there are some up through 1.3710

1.3710??? That's where my sell limit is. Let's see if my limit order absorbs the stops.

ECB keep buying - So much money ?
after this 4H bar close - next 1.37-1371 rules

Yes I believe 1.3710/20 area which coincides with the 61.8% fibo and the 200 sma on the H1 and H4 charts
See my Euro Morning Update for the charts

We rule the market! You naughty naughty market, you are going to get shorted by our magnificient accounts.

I am trying my luck with AUDUSD long and gold long; we should get some risk-on with EUR recovery. I think 1.369-1.372 projection you guys made is highly plausible. I especially like the wedge pointed out by FXMindset, and this rising wedge forming is one of my most important technical signals to try a long. (but maybe not on EUR)

Nice Mate - while am adjusted higher my short limit @ 1.3705 based on current 4H development

Btw,no Trade UJ ? Just noticed you removed UJ setiment view

Beautiful Is it - No real comfirm yet - Only forecast - Lets see the next 4H progress

EU placed an embargo on Syria. I wonder if it come through our national Ministry of Foreign affairs. This is sick. I am starting to dislike EU officials more and more each and every day. I wonder if Syria is going to get bombed soon.

http://www.ft.com/intl/cms/s/0/118ee...#axzz1dNxGjICD

I am focusing on Euro for now. U/J still has a long way to fall before coming back up. It will take Japan 2 more months to accummulate more Yen to dump on the markets. Until then I stay out and wait for it to fall to level;s that Noda does not like. Maybe 76.00 or 75.5 Then I buy again.

ADD:
A bit of trivia...
This is post # 9000. The thread was started on Sep 25, 2011. That is 47 days ago. 9000/47=191.5 posts per day on an average
Who will be post # 10,000 ???

Lazy day... everything moves slow. But seems that there is some tiny upward pressure.

ADD: Top of page.

I wonder who will be 9001?

Edit: curse you Blobik, you stole my spot.

You missed it by one.