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Trading EURUSD only

  • #42,141
  • Apr 4, 2013 1:22pm Apr 4, 2013 1:22pm
It's been awhile since US session moves the price in such manner...
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #42,142
  • Apr 4, 2013 1:22pm Apr 4, 2013 1:22pm
FXstreet.com (Barcelona) - Equities in the US markets are trading back to the positive territory on Thursday, recovering ground after the poor weekly report on the labour market has undermined sentiment ahead of tomorrow’s Payrolls. The US Dollar Index retraced initial gains, falling from session highs around 83.60 to the current lows in the vicinity of 82.80.
DowJones is up 0.20%, followed by the Nasdaq and the S&P500, advancing 0.01% and 0.17%, respectively.

Bourses in Europe closed with losses after ECB’s Draghi predicted strong headwinds for the euro area in the second half of the year, hampering any attempts of a recovery. The FTSE100 led the losses, down 1.19% followed by the CAC40, 0.77% and the DAX, 0.73%.
After bottoming in the boundaries of 1.2740 on a dovish statement from the ECB, increasing buying interest lifted the single currency to levels shy of 1.2950, leaving behind the key region of 1.2880/90 (200-day moving average).

Commodities are trading mixed so far, with the barrel of WTI extending its decline to $92.91 or falling 1.63%, while the ounce troy of gold is posting marginal gains at $1,553 or 0.02%.
Trade smaller than rational because the market is irrational...
  • #42,143
  • Apr 4, 2013 1:31pm Apr 4, 2013 1:31pm
Back from the dentistttttttth, (that is me being numb). Love this move. On my chart we will consolidate and have one more move up to end out the 5 waves up for C.
  • #42,144
  • Apr 4, 2013 1:53pm Apr 4, 2013 1:53pm
So you do not see any pull back before NFP?
Quoting MeInGraySuit
Back from the dentistttttttth, (that is me being numb). Love this move. On my chart we will consolidate and have one more move up to end out the 5 waves up for C.
  • #42,145
  • Apr 4, 2013 1:54pm Apr 4, 2013 1:54pm
FXstreet.com (Barcelona) - The bloc currency is extending its march north on Thursday, hovering over 1.2950 after a wave of buying interest lifted the cross from fresh 2013 lows around 1.2740.

Moving on to Friday docket, Italy will release its Public Deficit/GDP ratio for the fourth quarter ahead of the EMU Q1 GDP and Retail Sales. German Factory Orders will close the euro calendar. Big day for the US economy, as the NFP will be in the limelight alongside the jobless rate for the month of March. US Trade Balance figures are also due, preceding the Consumer Credit Change.

EUR/USD is now advancing 0.75% at 1.2945 with the next hurdle at 1.3050 (high Mar.25) followed by 1.3134 (high Mar.8).
On the flip side, a breakdown of 1.2730 (low Nov.19) would expose 1.2680 (61.85 of 1.2042-13711) and then 1.2662 (low Nov.13)
Trade smaller than rational because the market is irrational...
  • #42,146
  • Apr 4, 2013 1:55pm Apr 4, 2013 1:55pm
short 2 @ 46 tk 1 @ 40 sl not yet
  • #42,147
  • Apr 4, 2013 1:57pm Apr 4, 2013 1:57pm
Chart Porn

18::25 GMT - EUR/USD has now done two key things technically to look a bit more bullish: 1) outside day reversal to the upside and 2) break the overhead TL. This action may not confirm a major sustained bottom, but at the very least the mkt should follow -through with the bit more bullish action toward 1.3000. Support now at 1.2877. R.Z

Attached Image
Trade smaller than rational because the market is irrational...
  • #42,148
  • Apr 4, 2013 1:57pm Apr 4, 2013 1:57pm
fld filled at 40 sl at 52 going to play some 10's (tennis)
  • #42,149
  • Apr 4, 2013 1:59pm Apr 4, 2013 1:59pm
Well that is a good view point. This is how I see it.
Quoting EuroTraderJD
Chart Porn 18::25 GMT - EUR/USD has now done two key things technically to look a bit more bullish: 1) outside day reversal to the upside and 2) break the overhead TL. This action may not confirm a major sustained bottom, but at the very least the mkt should follow -through with the bit more bullish action toward 1.3000. Support now at 1.2877. R.Z {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: euro_daily.JPG Size: 362 KB
  • #42,150
  • Apr 4, 2013 2:06pm Apr 4, 2013 2:06pm
Quoting TraderPablo
fld filled at 40 sl at 52 going to play some 10's (tennis)
GL
Trade smaller than rational because the market is irrational...
  • #42,151
  • Apr 4, 2013 2:07pm Apr 4, 2013 2:07pm
Greek political veteran launches party to push for euro exit

Alekos Alavanos , the leader of SYRIZA from 2004-2008 has split from the party and formed a new party with the intention exiting the eurozone, according to ekathimerini.

Over recent months, he has criticized the party he used to lead, arguing that its goal of rejecting the terms of the EU-IMF bailout but remaining in the single currency was not credible.

He says “possibly as much as 50 percent” of Greeks support leaving the union. One lesson from history is that the longer a crisis lasts, the more likely radicals are to come to power.
That’s one of the things that makes the reluctance of the ECB to do more so puzzling. They never seem to appreciate the risks until it’s too late.
Trade smaller than rational because the market is irrational...
  • #42,152
  • Apr 4, 2013 2:08pm Apr 4, 2013 2:08pm
Quoting sypherBG
It's been awhile since US session moves the price in such manner...
Reminds me of Jan 10.
  • #42,153
  • Apr 4, 2013 2:19pm Apr 4, 2013 2:19pm
Quoting Robby
So you do not see any pull back before NFP?
I think we will head higher maybe 25 pips or so and then a pull back then consolidation before NFP. I personally think we are going to miss and take a dive on NFP. Who knows if this move up if someone doesn't know the results of NFP already and they are trying to push it up.
  • #42,154
  • Apr 4, 2013 2:22pm Apr 4, 2013 2:22pm
Quoting MeInGraySuit
I think we will head higher maybe 25 pips or so and then a pull back then consolidation before NFP. I personally think we are going to miss and take a dive on NFP. Who knows if this move up if someone doesn't know the results of NFP already and they are trying to push it up.
This wave seems very impulsive show it should have one more leg up following EW rules.
  • #42,155
  • Apr 4, 2013 2:33pm Apr 4, 2013 2:33pm
Forex Analysis: EUR/USD Hits New 4-Month Low then Rebounds

http://x.oanda.com/delivery/lg.php?b...&cb=30c9cee3fe





http://www.forexcrunch.com/wp-conten...D-1024x671.png
EUR/USD (daily chart) as of April 4, 2013 has hit a new 4-month low at 1.2744, dropping slightly below its prior low of 1.2750 that was hit just last week. After that low was hit, price rebounded on an intraday basis back up to the tentative 1.2880-area resistance thus far. The new low hinted at a potential continuation of the entrenched bearish trend that has been in place since the early February high around the 1.3700 handle. The medium-term downtrend has seen little in the way of significant upside corrections, as the euro has continued to be weighed down substantially for the past two months.


Having reached its downside target of 1.2800 last week, and then consolidating around this target level since then, in the event of continued bearish pressure after the rebound, price could move towards further downside objectives around the 1.2650 and then 1.2450 support zones. Major upside resistance continues to reside around the key 1.3000 level.
Trade smaller than rational because the market is irrational...
  • #42,156
  • Apr 4, 2013 2:46pm Apr 4, 2013 2:46pm
Short @ 1.2930

5 SMA X 15 SMA on 10M

PA below both

RSI3 10M under 50

PA under 5 SMA on 30M

Not near HSR or 30M Fibs

Have an existing long @ 40

Whatever will be will be...but will be in green pips regardless
Trade smaller than rational because the market is irrational...
  • #42,157
  • Apr 4, 2013 2:48pm Apr 4, 2013 2:48pm
Although I dont like the lack of liquidity now but what the hell.
Trade smaller than rational because the market is irrational...
  • #42,158
  • Apr 4, 2013 3:47pm Apr 4, 2013 3:47pm

  1. EUR/USD spiked below 1.2750 on initially dovish take on Draghi comments
  2. Draghi hinted at possibility of new measures via SMEs (More)
  3. That combined with a short market saw a huge EUR squeeze
  4. Stops above 200 DMA run & a high of 1.2949 was hit
  5. Techs say rally persists; bullish engulfing forms; daily RSI diverges

Trade smaller than rational because the market is irrational...
  • #42,159
  • Apr 4, 2013 3:52pm Apr 4, 2013 3:52pm
Pissed off mad, hella day today, first missed the damn short last nite cuase fell asleep, then got back in this morning in nice entry for a short, only to have the it spike me out my position and continue on its way short anyway without me, then was too damn busy at work to watch the screen to get back in....

Lucky enuff, was able to get in on the upmove for what now looks like +64.

NFP better not kick me back down, i'm leaving in until tomorrow, my daily doesn't show anything above in the form of R until the 1.3040.

Wish me luck guys
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmm15.png Size: 64 KB
  • #42,160
  • Apr 4, 2013 4:18pm Apr 4, 2013 4:18pm
Quoting Lucrativ
Pissed off mad, hella day today, first missed the damn short last nite cuase fell asleep, then got back in this morning in nice entry for a short, only to have the it spike me out my position and continue on its way short anyway without me, then was too damn busy at work to watch the screen to get back in.... Lucky enuff, was able to get in on the upmove for what now looks like +64. NFP better not kick me back down, i'm leaving in until tomorrow, my daily doesn't show anything above in the form of R until the 1.3040. Wish me luck guys...
That damn whore Ms. Market always willing to screw us (but not in a good way).

At least you are ITM (in the money). Dont fret my brother Ms. Market will be around to give you more chances to get your pound of flesh back.
Trade smaller than rational because the market is irrational...
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