EurAnalysis

US DATA: Factory new orders +3.0% in Feb making it the largest increase since Sept'12(+4.5%) - MNI

FXstreet.com (Barcelona) - After a first move higher ahead of the European session, to 1.2877 high, the EUR/USD has been gradually losing value, on the release of the final reading of March manufacturing PMI and ahead of the NY opening, where it printed its current daily low at 1.2812.

US Economic optimism by IBD/TIPP came a little higher than expected, rising from 42.2 to 46.2 for the April report, beating the 46.1 consensus but still below the 50.0 threshold. A big drop on the ISM New York was seen in March as it eased from 58.8 to 51.2, remaining in an expansionary pace, though.

The monthly CPI in Germany came in at 0.5% (consensus of 0.4%) from 0.6% in the prior month, while the HICP came in at 0.4% (consensus of 0.3%), from 0.8%, and the annualized number unchanged at 1.8% (consensus at 1.7%).

“EUR/USD is bouncing within its underlying downtrend. An hourly resistance is at 1.2890 (26/03/2013 high). Another resistance can be found at 1.3048 (25/03/2013 high). An hourly support is at 1.2751 (27/03/2013 low)”, wrote MIG Bank analyst Bijoy Kar.

Not so sure if I want to chase it lower right here for just a few pips.

Have an existing short @2758 so I will wait for a better place to re short or go long if the 5 X the 15 on the upside in the 10M

So much for going along to get along...

 

1. Italy's Bersani repeats that his party won't form coalition with Berlusconi
2. EUR/USD bounce off 1.2812 low halted shy of 1.2830 as headline hits the wires
3. Next support rests ~ April 1 hourly lows 1.2800, stops touted 1.2790
4. Break of 1.2750 barrier is key for bears, if cleared 1.2660 is next bear target

Well that looks like the right call....

Well it looks like the 5 is about to X the 15 on the 10M chart and normally I would go long but I have an existing long @ 45.

The PA is within my MM Price Saturation zone so I am standing down and will wait.

I think it may consolidate here or possible head somewhat higher. I dont know I could be wrong and often am.

I try not predict where the market might go. Been there done that as have a million others to no holy grail so that was a waste of time and money.

When I tried drawing price and time arrows up to heaven or down to hell didnt build any wealth in conjunction with SL. Predictions were as good as the weather mans and he wasnt getting any poorer.

I just react when Ms. Market does something. The 5&15 is my mainstay with validation of others. By using no SL she eventually proves me right.

FXstreet.com (Barcelona) - The bloc currency remains in the red territory on Tuesday, orbiting around 1.2835/40 after failing to follow through the key level of 1.2880/5 overnight – where sits the 200-day moving average.

In the view of Christin Tuxen, Senior Analyst at Danske Bank, “Adding to the picture of EUR moving out of favour on a more structural note was the release last week of the quarterly COFER data from the IMF showing developing countries dumping the euro from their FX reserves. We think the euro could be in for another tough week ahead of Thursday’s ECB meeting as the possibility of rate cuts will remain a key discussion point”.

EUR/USD is now losing 0.11% at 1.2833 facing the next support at 1.2751 (low Mar.27) ahead of 1.2730 (low Nov.19) and finally 1.2680 (61.8% of 1.2042-1.3711).
On the flip side, a break above 1.2886 (MA200d) would expose 1.2890 (high Mar.26) and finally 1.2943 (MA21d).

no losers !!?

Thats right brother. In fact no losers yesterday, last week or last month...

Since 10/15/2011 I have had 1100+ wins and 9 loses. 6 of them were trading platform errors or laptop touch pad issues executing trades before their time.

I dont use SL and wrote a MM software program based on inverse pyramids. Its what the Banksters do.

Its how I build wealth.

Remember its a Walk to Wealth not a Race to Riches (ruin).

FX is a career to me not a cash cow.

If more traders took that approach they would be able to trade full time instead of trading making a fool out of them.

MM is under rated I think in the retail FX community. I learned my lessons and when I realized I loved the markets more than greed I was on my way.

My approach isnt for everyone.

IMO too much time is spent trying to perdict where the market MIGHT go. Its nice to have an idea but no one from the small guy to the biggest investment bank has found the holy grail.

So what is known is MM and reacting in real time to what the market does.

Dont get me wrong I use indos to get in, stay in, and get out. I keep an ear to the ground for FA as I have several browser windows open to catch real time news.

FA makes the longer term charts. TA fills them in. MM will keep you in the game for the long run.

nice am with u!!

Of course you're on your way to the market ... I was just playing a bit ..

Lets get fat together

Sorry brother about being so serious. I didnt know you were joking.

That is a side effect of emails and texts. Its all good

1. Rejection ahead of 1.2900 shows market remains a sell on rallies
2. Daily momentum studies turn south again & 21d Bollis continue to drop
3. Consolidation at lower levels looks set to continue
4. Likely to resolve to the downside
5. Clearing 1.2750 barrier still key for bears (More)

BRICS Dumping Euro: “US Dollar Set Back A Generation”



http://beforeitsnews.com/economy/201...n-2506400.html

I think PT can sue them on the ground of thefting intellectual property. On the second thought, (who knows) PT might be working as Chief Sale Officer and Market Strategist there.

PT has been gone for way too long. I doubt he was banned and its not his style to remain Invisible. I think something bad has befallen him.

FXstreet.com (Barcelona) - While Gold is having its 2 worst days in a row of selling off in last month as April contract delivers, EUR/USD is last at 1.2801, off recent session and 2-day lows at 1.2794, following FED Evans suggested bond buying program may reduce pace later in 2013, IFR John Noonan reported. EUR/USD is slightly below previous weekly close past Friday, down -0.14%.

“The flow guy informs me that there is plenty of EUR/USD buying interest between 1.2760/70 from Eastern Europe and the Middle East, who I can only presume are booking profits on existing shorts,” noted FXWW founder Sean Lee, adding: “Real money funds are still being reported as the primary sellers, with asset managers getting out of their EZ investments.”

Immediate support to the downside for EUR/USD lies at Friday's lows 1.2790, followed by Monday's weekly lows 1.2770, and past week double low at 1.2750. To the upside, closest resistance shows at yesterday's lows 1.2810, followed by Thursday's 1.2845, and Monday's/Tuesday's weekly highs at 1.2870/80.