EURUSD

vertical on no news

I don't think today's move can break the range since EU summit meetings will run 6 days long.
This move for technical purpose only.

Trying to lock the 60-65 for a move towards 1.3580-90

Hello traders,
my up to date view on the Dollar Index (daily chart below is from yesterday's mid-week update):

The 79.90 area in the Dollar Index looks strong resistance at the moment and it's very possible it will be able to contain higher price. The sequence of measured moves higher failed on the 4-hour timeframe. The short setup at 79.90 has targets at 78.50 (1st) and then 77.70 (2nd) helping price into that larger weekly setup's target at 77.50s, which started with the resistance at the 81.60s, in November.

These are the two updated scenarios I see going forward (refer to the picture below):

http://www.forexfactory.com/attachme...1&d=1360226968

Scenario 1. Price could start a move lower into the first target at the 78.50 area. It could then continue into the next area of target at 77.70 and into 77.60, after a brief profit taking relief move higher (this is the higher probability scenario).

Scenario 2. After trading down into the 78.50 first area of target price could reverse and start trading higher. This scenario seems less probable at this stage.

Of course we still need further confirmation that the Dollar Index has actually topped in this move. This would coincide with renewed, anticipated strength in the Euro-Dollar cross. Currently the bears are in control of the 15min timeframe and the confirmation of the targets mentioned above and the resistance level would come with price below 79.30. This could take a day or two.

Let me know your thoughts? ty

Have a great day.

looking for EJ long entry around 127.0x area

3545 to continue

I have some decent size around 1.2400s , it may upgrade my old boat...

Buy order 1.3555 for 1.3585-95

To be removed if new 5mn high close.

cool I'll bring the bubbles

Profitable adjustments been done @ 1.35620 ...

10h07 CET








;-|

Before I can put any faith in larger targets it firsts needs to move out of the correction scenario.

So my current long trade is targeting the bubbles initially, noting also that 3615 will be a tricky number to jump over

taken @ 127.11

Very true... All eyes on 1.3585 here... Missed the long entry this morning , couldn't trust the break @1.3545... shite...!

80 and 97 next. There is upside air pocket between those price levels.

80 is really important.

Well played.

I was waiting for lower, 127.04/05 ideally, But i feel I may have missed it for now.

Yes indeed. If we see a confirmed taking out of 1.3585 my next long target will be 1.3636 - i.e. 5 pips south of R2.

In between. my long term EUR/GBP shorts are approaching. above 0.8700s, will start shooting...

gbp data in 2 minutes watchout bulls

Might get it before NY open.

Kiwi, you always scare me.

Watch out Mark Carney