EurAnalysis

so how far is this going up?
1.303 or 1.3115 (option expire)?
am long already

Out of long @1.2999 +23 next long is at 31

YW

The RSI 3 short @ 1.3031

Brother fxcode you have excellent points however using the pyramid requires the opposite bias to keep it perfectly balanced. There is also the FA aspect of another country that I mentioned in a previous post about trading Yen Xs

I am taking the conservative stance and just sticking for what works for me. Plain old boring trading and consistent money.

EUR/USD stutters after morning climb

FXstreet.com (Barcelona) - Having climbed to capture the 1.3000 level, EUR/USD looks to have met some resistance during a day lacking any significant economic data releases.

The pair opened lower overnight at 1.2969 and has largely ranged throughout the morning session between there and 1.3018. Having moved above the key 1.3000 level, spot is currently trading at 1.3008, having met resistance at the daily highs and taking support above the round number. This mornings data has been uneventful, with a decline in EU Investor Confidence and a slight improvement in German Industrial Production wrapping up the European economic calendar. Hourly Stochastics are moving into overbought territory at 82, while RSI sits at 61 and moving in a ranging movement.

1. Portugal woes help to limit EUR/USD topside for now
2. Profit taking caps ahead of Friday's 1.3040 peak
3. Large 1.3000 option expiry could still draw price action

[London, 12.30GMT April 8] EUR/USD peaked 1.3040 Friday after a decent post NFP rally from 1.2900. The pair took a hit in early Asia today however as USD/JPY spiked over 1% and led the USD broadly higher. EUR was also negatively impacted by reports that Portugal would have trouble meeting deficit reductions required under their bailout plan after the Constitutional Court ruled against some of the austerity cuts, slipping through 1.3000. 1.2963 was the setback lows, with decent size bids touted in to the 1.2950 level. Tech support lies 1.2918 (21DMA) and 1.2896 (200DMA). Asian high at 1.2906 was breached in early London as market shrugged off portugal woes for now. Offers at 1.3010 breached for 1.3019 before sub 1.3000 setback, then another push on the NY open saw new daily highs at 1.3028, but profit taking helped to cap that rise. Offers stacked up in to Fridays high, with stops at 1.3050. Large option expiries noted at 1.3000 today (More) . Decent demand for EUR/JPY through recent highs helps support EUR/USD on any setbacks.

out of long for today, switched to aussie looking to short the retracement and am short usd/jpy looking to scale in today or tommorow.
my guess for aussie is 1.04350 (option expires) thats where the run might end +H1 indicators overbought

Chart porn for all you pipnographers

Euro testing markets’ patience

FXstreet.com (Barcelona) - The shared currency is treading water around the key psychological barrier at 1.3000, having quite volatile session on Monday, and in essence completely removed so far from the recent events in Portugal – over the weekend, the high court discarded part of the new austerity measures pushed by the government. This may be bit premature to infer further developments in Lisbon, although we all remember what happened after the markets underestimated the Cyprus’s effects and generally speaking where there is smoke there is fire.

… 1.3000 handle holding so far

The EUR/USD finally hit the psychological limestone of 1.3000 on Friday, boosted by the ECB meeting on Thursday and the lacklustre Payrolls figures on Friday, hurting the greenback and allowing the single currency to climb to the proximity of 1.3020.

The uncomfortable respite in Italy is also helping the upside momentum of the euro as no further news or events arose after the meeting days ago between the leader of the centre-left P.L.Bersani and the President of the Government, G.Napolitano. Conclusion: the absent of willingness to form a coalition government amongst the three main political leaders still lingers, casting a mantle of uncertainty over the markets that has yet to abate.

On the Cypriot front however, all remains calm as well, thought this does not mean that normalcy has returned back to the beleaguered island. However, the absence of headlines prompt investors to shift their attention to Portugal, for instance, which a priori arises as the main issue in this week’s trading.

When comes to technicals, the cross broke above the downtrend channel set from February highs above 1.3700 and is heading to retest late March highs at 1.3050 (March 25th), ahead of the area of 1.3075 (38.2% Fibonacci retracement of the July 2012-February 2013 upside). Further upside would see the region of 1.3100/20, where sit the March 15th high and the 38.2% of the February-April decline.
On the flip side, support levels align at 1.2890/95, where sits the 200-day moving average, reinforced by December lows around 1.2880/85. A dip beyond that would expose the region of 1.2660/80, where converge the 61.8% retracement and November lows.

JK on FX video and commentary

http://www.jkonfx.com/

EUR/USD in fresh highs above 1.3030

FXstreet.com (Barcelona) - The shared currency keeps its buoyant march on Monday, extending the post/NFP rally to fresh highs above 1.3030, as risk-on trade is creeping back to the markets.

“The euro is attempting to gradually stabilize in the near-term with EUR/USD trading close to its average level over the past year… The BoJ’s policy announcement will further expand global liquidity, which may support yield seeking flows into peripheral govt. debt helping to support the euro”, commented the research team at BTMU.

At the moment, the cross is advancing 0.25% at 1.3024 facing the next resistance at 1.3040 (high Apr.5) followed by 1.3050 (high Mar.25) and then 1.3107 (high Mar.15).
On the downside, a breach of 1.2918 (MA21d) would bring 1.2896 (MA200d) and finally 1.2868 (MA10d).

Off Friday's highs but the long side remains favored. The long trade targets 1.3100 and stops are raised in line with the 10 DMA. The break above the 200 DMA signals more upside to come and day trend indicators are bullish. The 50% fibo by 1.3230 is another possible target in coming days.

Cool bro at this moment E@24 you are seeing GREEN

That RSI3 serving as confirmation for other indos is the BOMB!

Overnight Levitation Returns As The Elephant In The Room Is Ignored



http://www.zerohedge.com/news/2013-0...t-room-ignored

closed one @ 1.3015, another needs to see the candle 1H too, what do you think bro?

Euro retreats again as sell interest caps rally

We’ve seen EURUSD come back from session highs of 1.3033 as the barrier option interest at 1.3050 casts its shadow over an unconvinced market.
Currently back down to 1.3015 with EURGBP also sub-0.8500 again after posting highs of 0.8515.
Jury still well and truly out in this session.

careful MACD just crossing up

AMEN fxcode. That is why I use the RSI3 as a confirmation.

My main signal is the 5&15 X in respect to PA then RSI3 on the 10M then on to the 30M HSR & Fibs and finally PA on the 1M which has to match my bias.