Trading EURUSD only

Good day all, based on my daily chart I think we see a little more up to 3054-3069 range before we head back down as you can see the Daily is out of gas, it has enough for one more little push then it's done. My monthly chart agrees with this as well. However the big challenge is the weekly chart so we shall see which TF wins.

Agreed BO! EW states 3rd wave cannot be the shortest, we have an extended 1st wave in this last series of waves so the 3rd wave cannot be the shortest therefore wave 5 has to stay below .3107 or it will be invalidated. So I like your .3054-69 plots. Short it up my friend should be a good pip ride down.

He posted he was hosting his own Birthday on Friday.
Hope he survived it

Now I am looking for more downside maybe to weekly or monthly pivot

EUR/USD keeps correcting lower

FXstreet.com (Barcelona) - After climbing to levels just shy of 1.3040, the shared currency started a correction lower to the current levels around 1.3015, accompanied by an increasing risk aversion.

“In respect of EUR/USD the key driver the next couple of weeks will be relative monetary policy. Hence, the timing of Fed’s QE exit and whether the ECB will cut rates or not will be pivotal for the cross”, suggested Senior Analyst at Danske Bank, S.Roed-Frederiksen.

The cross is now up 0.19% at 1.3015 facing the next hurdle 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).

1. Raised stop to 1.2945, below today's low & the Apr 4 high (1.2963/49)
2. Stop locks in a profit on the 1.2905 long position
3. Target lowered to 1.3090, just inside the upper 21-day Bolli's current position
4. Actions taken after today's highs repeated Friday's high by 1.3040
5. For more see (More) . Chart: http://link.reuters.com/muv27t

Pipnography


http://www.forexfactory.com/attachme...1&d=1365440021

this is why i am still more inclined towards riding a bear ... also thanks uturn and gray suit for confirming it even better


[edit] will add more to the shorts on 38.2 if it goes there

JD, can you PM me that MM pyramid also, please?

Hi Bro

I am also interested about yours MM Pyramid.

Would You be so kind please

Thank You

I would be glad too my brother PM me your email address and I will send it out before I leave the office today.

I would be happy to Brother. Send me a PM with your email. I will send the PDF over

EUR/USD hovering over 1.3000/10

FXstreet.com (Barcelona) - The single currency is heading towards the key limestone at 1.3000 in a context of increasing selling pressure as the NA session is drawing to a close on Monday.

Moving forward to Tuesday’s docket, Germany and France will release their trade balance figures ahead of Italian Wage Inflation and Greek CPI. Across the pond, speeches by Fed’s Lacker and Lockhart are due, as the US docket will be empty of relevant events.

At the moment, the cross is advancing 0.15% at 1.3010 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).

Done

1. Top 4 global FX trading bank saw net EUR inflows last week, +2.6%, volume normal
2. USD/JPY & EUR/JPY were the primary drivers post BoJ
3. EUR/USD over their books was small net sold -private clients sold most in 6 months
4. Hedge funds bought EUR/CHF (Swiss outflow 12% but volumes 90% of normal)
5. EUR/CZK was one source of EUR inflows (EUR/CZK +43.7%,but light volume)
6. SEK sold heavily, -14% net volume, 5% below normal, not noted but think EUR/SEK

1. Early NY had bulls in charge & the pair retested Friday’s post-NFP high
2. Failed to gain further ground then Spanish PM stokes risk-off sentiment
3. Says Europe should consider new powers for the ECB
4. News Troika will visit Lisbon after the recent court ruling didn't help either
5. March 25 high at 1.3050 remains key s-t resistance

Todays Review

NY walked in with the pair near 1.3010 after dips to 1.2960/70 were bought in Asia & Europe. Early NY had bulls in charge & the pair retested Friday’s post-NFP high but it failed to gain further ground. Spanish PM Rajoy stated Europe should consider new powers for the ECB to stoke some risk-off sentiment. Adding additional weight to EUR was a report from the Portuguese Finance Ministry saying the Troika will visit Lisbon after the recent court ruling. EUR/USD dipped to test 1.2990/95 but held twice as EUR/JPY’s bull run hit a new trend high of 129.24 & showed little signs of retreating. The March 25 high at 1.3050 remains key s-t resistance & if broken bulls will target 1.3110-35 where the 38.2% Fib of 1.3711-1.2740 and March 8 high reside. Daily & weekly RSIs remain biased up with no divergence signs while the USD’s yield advantage slips further. Beyond 1.3135, major resistance lies at 1.3163 (Feb 28 high). Above that level could see bearish positions established in March squeezed massively.

Out of existing long @31 for +33

Next existing long @84

Ms Market is running the tables for me.

Glad I didnt use a SL when these pos went underwater because now I have all my equity and more.....

MM pyramid works time and time again if you believe in the random walk theory

1. The EUR/USD remains bid after stops were triggered above 1.3050
2. There is talk of more EUR/USD stops above 1.3075 that are in focus
3. Sellers are camped ahead of resistance at 1.3110 (38.2 of 1.3711/1.2740)

Since its pop this morning EUR/USD has been trapped in a very tight range.

 

1. Banks have sell orders at 1.3070/80, with stops above there. Selling again around 1.3100/10
2. Buy orders 1.3050