EurAnalysis

Hi CM,
How do I find your trading info and course info on AG?
Toodles

May be mentioned by Super Mario tomorrow could be BULLISH

doesnt matter I react according to PA and not what I think.

ECB Prepares To Subsidize Small/Medium Businesses Next

http://www.zerohedge.com/news/2013-0...usinesses-next

Out +7 can always reneter long and have an existing long at 94

FXstreet.com (Barcelona) - Antecipation of disappointment on the ISM non-manufacturing PMI just released triggered a fall of the greenback on the US session. The EUR/USD climbed the chart from 1.2825 to 1.2861 high, for now, and remains attached to the highest levels of the day. Earlier, the ADP employment report was expected to rise from 198K to 200K in March, but February data was revised much higher, to 237K, and the March figure disappointed at 158K.

Now that today’s data is out, investors will be properly positioning themselves ahead of the ECB monetary policy and Draghi’s press conference. In regard to policy tools the ECB could use, TD Securities analysts said that new LTROs would generally be positive for EUR/USD and German rates “as there is enough excess liquidity in the system that market pricing for normalized money market rates is already pushed back to 2015”. “There is simply limited scope for new liquidity to alter this pricing significantly as it would likely be drained before then. Even a refi rate cut, as long as it comes with no strong language on the potential for a deposit rate cut, would likely eventually be EUR+ as the improvement in sentiment and funding would outweigh the muted moves in STIR”, wrote analyst Richard Kelly.

Mataf.net analysts point to resistance at 1.2875 and 1.2940. On the downside, supports might be found at 1.2790, 1.2755 and 1.2725.

1. New session high (1.2863) as Non-Mfg ISM misses, jobs at lowest since Nov
2. Earlier ADP miss had mkt rethinking Friday's jobs expectations
3. EUR/USD above channel top & 10 DMA, 200 DMA & March 26 highs next hurdles
4. Offers still lined up ahead of 1.2990
5. Break & close above likely squeezes recent bears, mkt then eyes Mar 25 high
6. Chart: http://link.reuters.com/vez96t

Thanks for posting all the info EuroTrader, keep the posts coming

Hmmmmmmmmmmmm

waiting to go long again but my short @ 35 is coming into view.

When in doubt stand down and wait on Ms Market to give the indos direction.

Hmm, still closing my positions a little too early, but at least I am closing them in the green!

EuroTraderJD:
Thanks for the advice. The RSI 5 on the 10min has been working great for scalping the past two weeks.

Axel Merk's $630M currency fund has pulled back from his bets that the euro will gain (paring down its long position in the flagship Merk Hard Currency Fund, and going neutral in the Merk Absolute Return Currency Fund). Merk says ECB President Mario Draghi doesn't have many options to shift policy at tomorrow's meeting. Cutting the benchmark rate won't do much good to support the economy. Using the policy statement to send a signal that further monetary easing is coming is the most powerful tool Draghi has, Merk says. Don't expect any dramatic new announcement that will suggest the ECB is about to start buying bonds, he adds. Euro is at $1.2853 from $1.2820 late Tuesday, according to EBS via CQG.

Glad that it helped you out brother.

I use it as confirmation with the 5 & 15 SMA 10M cross

Long @ 48

Existing short @35 existing long @48

Here I am stuck in the middle with you...(song Stealers Wheels)

Nice! I wish I had that kind of humor when it came to trading.

Thanks brother. Trade small and stand tall.

1. Since Mar 27 low, choppy bear flag has been forming below 200 DMA
2. Bear flag below key support suggests a test of next support at least
3. 61.8% fib at 1.268 is next key level, near Nov 2012's important low
4. Stops below there if tripped could accelerate the decline
5. Chart: http://link.reuters.com/web27t
6. See (More) for more

I agree...but lets see what Draghi says tomorrow.

He could lie and make things appear to be going well or tell the truth and help that bear flag hit home.

Bro I cant see him maintaining the same lie that things will pick up during 2ndQ. I am positioned short and long so I am ready for it to rain pips.

Could see some Yen action which would affect E today. Prepare accordingly my brothers

I know, but those guys are professional liars.

How are you gonna game plan your positions? Set limits on both sides or watch it and play it live?

04 Apr EUR/USD Daily
Choppy in consolidation from the 1.2751 low though the upside still limited below the 200-day MA, now at 1.2892. Would take break here to trigger stronger recovery, higher see more resistance at 1.2911/24 and 1.2945. Support starts at 1.2790 thenthe 1.2771/51 lows. Break will resume the downtrend from 1.3711 high of Jan. [P.L]

R5:: 1.2945 intraday level R4: 1.2911/24 14, 13 Mar lows
R3: 1.2892 * 200-day MA
R2: 1.2878 * 2 Apr high
R1: 1.2864 3 Apr high

S1: 1.279 3 Apr low
S2: 1.2771 * 1 Apr low
S3: 1.2751 * 28 Mar low
S4: 1.2740/36 19, 21 Nov lows
S5: 1.2691 16 Nov low