EurAnalysis

Thanks buddy

how many people long just

fine with that wave analysis

resistance breached

USDX H4



Now it's up to NY to finish the job.
Come on NY... trash the Euro

Thank you PT

you are just kicking the EURO from behind . enjoy the gains m8

you're very modest
You had all the groundwork done. Putting the trade required balls
well done m8

H& S

Once the neckline is broken, it will be a H/S

Thanks.
If we manage to breach 3095, I'll bring out my giant hammer.

Right at the 50 sma on the daily we break and hold then my dream of 1.36 is just another ridiculous speculation! However I'll be confident taking a short below the 50sma and will join you and the bears on the slippery slope to 1.17

what price did you get in at? 1.3080 area?

We still have to break 3125 and 3095
In the mean time, I am confident that if it retraces upwards, there are plenty of bears waiting to jump in around 3170/80

ADD: Right now the USD gains are being temporarily capped by a battle in the U/J pair

http://www.actionforex.com/action-in...0120309161139/

Dollar jumps sharply in early US session on solid employment data. Non-farm payroll report showed 227k expansion in the job market in February, above expectation of 210k. The bigger surprise was found in January's figure, which was revised up from 243k to 284k. Unemployment rate was unchanged at 8.3%. USD/JPY resumes recent rally and breaks 82 handle. Meanwhile, European majors are sharply lower against the greenback even though respective pairs are still bounded in tight range. Aussie also weakens mildly but is being supported by buying in European crosses.

Price actions in USD/CAD is mixed though.


Greece finally completed the voluntary debt swap deal with 85.8 participation rate. Greek Finance Minister Evangelos Venizelos said that participation "surpassed expectations and "results show that international markets see the prospects the Greek economy has to regain a sustainable fiscal situation". The Finance Ministry said that the final participation rate would increase to 95.7% after triggering the collective action clauses.

Greece is expected to hold a conference call with other Eurozone finance ministers later today to conclude the bailout while ISDA will also meet to determine whether a credit event has occurred. Nonetheless, Euro fails to sustain yesterday's gain as markets' focus are turning to other peripherals, in particular Portugal. There are already talks that Portugal is the next in line to restructure its debts following the Greece-style.

China's CPI moderated sharply from 4.5% yoy to 3.2% yoy in February, below expectation of 3.4%m and was the lowest number in 20 months. The data clearly showed that inflation pressures are easing and should give China much leeway for additional policy easing giving that Premier Wen has set the CPI target to be 4% this year. . Indeed, there have been speculations of an imminent reserve ratio cut by 50bps this week. PPI also dropped from 0.7% yoy to 0.0% yoy. and was the lowest number since December 2009.

Data from Canada saw the job market contracted by -2.8k in February but unemployment rate dropped to 7.4%. The fall in unemployment rate was mainly because number of Canadians looking for employment fell by 37,900, all in Ontario. Other data released saw Australia unexpectedly reported AUD -0.67b deficit in January. German CPI was finalized at 2.3% yoy in February. UK industrial production dropped -0.4% mom in January while manufacturing production rose 0.1% mom. UK PPI input accelerated to 7.3% yoy in February while output PPI rose to 4.1% yoy.

Yeah... I should have told, H/S in formation

But what bothers me is the possibility of positive Greek deal. In a sense, what i believe is, if deal isn't done, investors might feel the pressure of losing more. So, they might again drag the issue with some hopium, which i fear might take this pair north.

However, i am biased to bear.

ADD: Got in at 3182. It was tempting to short @ 3220. But held myself back because of NFP.

I'll sit tight until Monday I'll have to watch PA going into the close from about 18.00 gmt to see if these bears are confident enough to hold it over the weekend.. So far 50sma supporting well if we get a close above I'll look at the European breakout for a possible buy signal or vice versa.. I'm not too confident position trading at these levels let's see how the day plans out

Afternoon Traders…
I like to see the charts an hour or two after Non-Farm-Payroll when all choppy and chaotic movements settle down.
I think very good data coming in form US should kick stock indices up pulling Eurodollar along.
Well, not much to say today. This is my first “early stage” scenario for Friday and Monday…
I will be looking closely, but carefully for LONG signals within 1.31000 – 1.3080 area.
We’ll see how it works…


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Remember…. No matter what, price does what it wants
Like me – vouch me – but don’t follow me

Pass to me and let me finish ittt
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You make a good point. I wouldn't enter short at these levels either. Well I may average in with another position if we break below 3095