Morning...
- #785,542
- Apr 10, 2013 2:31am Apr 10, 2013 2:31am
- | Joined Feb 2013 | Status: Crazy Scalper | 1,576 Posts
Everything in the world has its own rhytms
- #785,544
- Apr 10, 2013 2:31am Apr 10, 2013 2:31am
- | Joined Apr 2012 | Status: Trader | 1,621 Posts
- #785,547
- Apr 10, 2013 2:32am Apr 10, 2013 2:32am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
https://secure.forexfactory.com/profile.php?do=explorer
Mohan 
- #785,551
- Apr 10, 2013 2:34am Apr 10, 2013 2:34am
- | Joined Feb 2013 | Status: Crazy Scalper | 1,576 Posts
No. it would be 6 consecutive gains in a row and I don't remember when it happened last time. we can close above 1.31 however
any fundamentals around the rising euro?
Everything in the world has its own rhytms
- #785,555
- Apr 10, 2013 2:39am Apr 10, 2013 2:39am
- Joined Dec 2010 | Status: Foook Bollinger-dr.Kegel knows! | 9,794 Posts
- #785,556
- Apr 10, 2013 2:39am Apr 10, 2013 2:39am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
it might close above 1.31. i did expect the euro to 1.30xx but 1.32xx it is beyond my expectation
Hence i'm barely looking at fundies, way too much manipulations
COT: The precious data ignored
- #785,559
- Apr 10, 2013 2:42am Apr 10, 2013 2:42am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Good morning ladies and gentlemen. Back at my trading desk now after a 2-day absence due to having to attend a funeral. I need to spend a little time now catching up on the current state of the market, especially my preferred pair,i.e. EUR-USD. It would appear, somewhat contrary to opinions expressed by "experts" on Bloomberg last week, that the bias has tending towards bullishness of late. Indeed on my 1-day chart, it looks as if a steep uptrend is developing. Do my esteemed friends on this forum agree with this assessment?
my take on EU is as follows:
weekly it made a good ABC correction of the swing down 1.49xx to .120xx and whilst is it is technically still correcting, it left very little upside target above the 1.371x and pulled away sharply from it, thus supporting a stance that the correction is ending and therefore downside in play or at least the correction is going flat. The current push up on weekly is close to 38% level where it will meet significant resistance especially from the H&S traders, but also I have .13128 as a weekly resistance level as well.
daily is in a correction of the 1.204x to 1.371x up swing and has made a confident wA and is currently printing wB. So the question is if this is a correction then where will B end. It is currently back at the 38% level of the up swing and also 38% retrace level of the wA so this is the first place I would look for the turn, but that turn zone extends all the way to 1.3300 so I need to see evidence.
normally I would look to the hourly for the evidence and finer projection but the hourly is all noise at present which is why so many accounts are probably getting toasted as they try to trade in the noise.
So it really is open within the sub.1.33 range but I favour the RR of testing shorts rather than chancing longs.
