Trading EURUSD only

I see that as well...however all these ongoing financial issues with some of those weaker EU places could throw the technicals out the window..unfortunately....

Very true... short term we are in shorting area...as the market is going sideways into the swing point for the daily bottom. I guess everyone in here is dealing with very VERY short term moves...and I am after multi week moves....

so are U long or short the market?

tough call i'll buy dips..

I am long... buying above 1.26 on all tech multi hour bottoms! Below 1.26 then I am wrong and we do not have a bottom... then I will stop out below 1.26...

out +7

Gidday

Are you doing pending orders from 126 EUR/US

Nope...long at 1.2820, 1.2770, looking for other tech lows to buy...

Gidday

pending short 129 EUR/US

got my 1.2820 EUR/US TP 12780 TP

4 pending shorts down to 126

thinking if it spikes down.

Thinking a we fart an we could hit lower levels

Happy Easter for all

Take care

thnak you morob
you too

as soon as FX has one data center & fix RO time like futures & stocks
EW will not be very effective on FX as effective as on futures & stocks

referance points differs from data feed to data feed.

EURUSD =

You too my FX brother

1st post

I beg to differ...yes I agree it would be great to have one data center but I believe EW to be most effective on FX instead of stock and futures. To many gaps in stocks and futures it is harder to read then Fx with only potential one gap over the weekend. I think the hardest thing about EW is the many interpretations that can be given for each wave and still have it make sense. I have approached EW more with the idea of what is the main direction of the EW waves and then I use my bollinger bands for entries and some exits. EW has been great to me, would highly recommend it to anyone!

Something to read while we are all bored....

With Cyprus gripped by a banking crisis that has revived the ghosts of financial contagion in the euro zone, investors, we are told, are again overcome with uncertainty.

But thankfully for currency traders, the euro's flight from moments like this has already been charted. It gives them something to follow. Those charts tell us that the currency's final destination over the next three years is an island that it last inhabited in November 2003, location $1.1300-$1.1400.
The EU's tough solution to Cyprus's crisis, especially the burden imposed on depositors, has put the country on a path eerily similar to the one Greece began over three years ago, and so also that of the euro. It's not hard to imagine the tiny Mediterranean country following a similar pattern of austerity, economic decline, political backlash, failure to comply with EU budget guidelines, and repeated bitter battles with its biggest creditor, Germany.

So to predict where the euro might go, it's useful to look at how it performed as the Greek tragedy has played out over the past few years.

Greece's problems first came to light when the EU ordered a drastic upward revision to fiscal deficit estimates in November 2009. At that time the euro was at its peak for the year at $1.5145. From then on, the currency followed a seven-month decline, eventually bottoming out at $1.1876 in June. As the euro zone leaders bickered over whether to help out the profligate Greeks, investors increasingly perceived a continent-wide problem of systemic risk.

Don't be surprised if the Cyprus crisis plays out similarly. Over the next year, the euro-zone will revisit doubts about the single currency's survival. And if we transpose the same range that the euro experienced during Greece's worst moments onto the Cypriot crisis, we would see the euro trade as low as $1.1335, well down from its current price near $1.28. The charts suggest this process will be a slow, meandering grind, and may even include a brief visit back up to $1.31, but the bottom line is that the next 12-14 months will be challenging for the euro.

Of course, nothing in foreign exchange goes one way. The euro will stabilize at some point, just as it did when a Greek bailout offered some temporary relief in the summer of 2010. At that time, investors viewed Greece as healed. Coupled with a second round of quantitative easing from the Federal Reserve's printing presses, which weakened the dollar and stoked talk of a currency war, the relief over Greece allowed the single currency to rebound sharply to a high of $1.4940 in May of 2011, even as both Ireland and Portugal were added to a growing list of crisis-afflicted euro zone member nations.

Similarly, investors will eventually become more relaxed about Cyprus. They will see it as a tiny country successfully backstopped by the EU and the ECB of no great threat to the monetary union. In that environment, we could even see the euro rally to $1.44, fitting the pattern seen since 2008 in which the European currency has experienced big swings against the dollar but has also put in successively lower highs.
Don't hold your breath, though. Markets' experience with Greece tells us that this sanguine view won't become entrenched until 2014. And it will take at least another Cyprus bailout for that to occur. With economists predicting a 10% contraction in the Cypriot economy and with all the harm that will do to the government's revenue-raising capacity, that's not a particular extreme prediction.

What's more, the path that the euro took as Greece and the euro zone moved back into a difficult phase in the summer of 2011,tells us that any post-Cyprus peak won't be sustained either. As Greece struggled through two mishandled debt restructuring and the contagion from its deeply distressed bond markets began to spread to Spain and Italy, the euro took a second precipitous fall from $1.4940 in May 2011 to a low of $1.2042 in July 2012. Similarly, as the Cyprus crisis transitions from premature hopes of resolution to recognition of the harsh economic realities and the accompanying systemic risks, the euro could go through another renewed tumble. In that case it would push down from its post-Cypriot bailout high of $1.44 to a spring 2016 low of $1.1500. In fact, the charts suggest it will eventually extend losses to $1.1300 before finding a base.

For foreign exchange traders these twists and turns will provide substantial volatility and bursts of opportunity and of course both pain and gain over the next three years. As for the euro zone itself, it can expect a difficult period of no growth, burdensome debt and a loss of credibility in its currency.

Thanks morob Happy Easter to you too, as well to all. Like your quote on bottom...very true!

The euro's taken a drubbing amid the Cyprus banking crisis, and was expected to pop after a bailout was finalized as those betting against the currency covered their shorts. The fact that it hasn't done so after several days free of fresh bad news--and isn't doing so today, in a thinly traded holiday market--means the bears are still in charge, and the currency will likely go lower, says Sebastien Galy of Societe Generale. The greenback's spent most of this week sidestepping generally unfavorable data, and is not expected to show much reaction should today's personal income data and March consumer sentiment reports follow suit. EUR/USD at $1.2823, up 0.1%.