EurAnalysis

Good night everybody. Sleep well and may the big green pip-monster visit your account while you sleep.

AMEN

Bailed on the long @67 for +1 looks weak here
Have an existing long @ 1.3093

Got an existing short @ 1.3052

Euro Briefing

[NEW YORK April 10, 2013 20:10 GMT] NY walked in with the pair 1.3100 after Europe failed to hold 1.3111 (38.2% Fib 1.3711-1.2740). Early action was quiet but bears took hold after BoJ’s Kuroda commented that the BoJ easing wasn’t aimed at a weak JPY. EUR/JPY dumped 130.45 to 129.51. EUR/USD followed & went from 1.3105 to 1.3065. A second look at Kuroda headlines deemed them misleading. JPY weakness resumed as EUR/JPY hit 130.51 & settled near 130.40. EUR/USD was a different story as an interview with Moody’s Portugal analyst stated the nation’s banks would need an additional EUR8bln in capital. The amount is greater than is available for the current bailout. EUR/USD dived to hit 1.3053. Talk of Asian demand ~ 1.3040/50 stemmed the slide & it bounced to sit near 1.3065 into the close. While the uptrend remains intact, bulls have some concerns. A shooting star candle on the daily chart % diverging RSI are warnings. The rebound off key res, 38.2% Fib & upper Bolli may be a harbinger of a pullback. Key s-t support lies at the April 9 low & a break puts 1.2900/05 in play where the 200 DMA & April 5 low reside. Bulls need a break of 1.3160/65 to feel more assured.

1. Bears took hold after BoJ’s Kuroda said easing not aimed at a weak JPY
2. EUR/JPY dumped 130.45 to 129.51; EUR/USD from 1.3105 to 1.3065
3. A second look at Kuroda headlines deemed them misleading
4. JPY weakness resumed as EUR/JPY hit 130.51 & settled near 130.40
5. EUR/USD struggled over Portugal concerns [ID:nL5N0CX2QD]

Source: FPA

Overall there is strength in the NZD, AUD and some strength in the CAD.

Overall there is weakness in the JPY, EUR and USD.


Look there is no trade for U/J and E/U at this point as both are hoovering in a f@@ked up zone

Buy Trades – AUD/USD, AUD/JPY, NZD/USD, NZD/JPY, CAD/JPY, GBP/JPY

Sell Trades – EUR/AUD, EUR/NZD, GBP/AUD, GBP/NZD

how reversals happen in smaller scale. #EURUSD M15 chart:

1. Talk of Japanese exporters selling EUR/JPY from 130.75 to 130.45
2. EUR/USD dipping below 1.3050 as stops triggered below yesterday's 1.3053 low
3. EUR/USD bids tipped ahead of 1.3000 with more stops below that level

Long @ 56
Short@ 52

Bailed on the earlier long @ 67 for +1 because the PA was weak so lets try this again.

Will wake up in the pips.

1. Rally from April 4 low at 1.274 has tested key confluence resistance
2. 38.2% fib of decline from Feb high matched the 50 day MA at 1.3114
3. Decline towards retest of 200 day MA at 1.29 expected in coming days
4. Chart: http://link.reuters.com/nam37t

Hi JD,

Do you take "only Long" on one account and "only Short" on the other? Thanks.

I think he just setup 2 positions and the price is the trigger

Hi brother Rekon. Yes I have a main OANDA account where I trade short and a sub account where my longs are. I do this so they dont cancel each other or part of a trade out when executed.

For the pyramid to work correctly you need an opposing account for balance. There were some valid suggestions of not using the long account and trading another pair. I think the suggestion was CHF/USD

Although this sounds good in theory in reality its not the same opposite pair more of a synthetic. For example what if something would happened with the CHF that wasnt related so much to E? This would put the pyramid out of whack and well it might go to hell quick.

Option expiries 10am NY cut

 

1. USDJPY 96.90,98.00,98.50,99.00,99.50,99.70,100.00,100.20
2. GBPUSD 1.5050,1.5200,1.5300
3. EURUSD 1.2900,1.2980,1.3085,1.3090,1.3100,1.3115,1.3125,1.3200
4. AUDUSD 1.0450,1.0480,1.0485,1.0500,1.0525,1.0550
5. EURCHF 1.2150,1.2200,1.2350
6. AUDJPY 98.60

Brothers its way past my bedtime so I am going to sleep although I am logged in.

See you all at the FX battlefront in the morning

Thanks JD.

Morning,

Move up is too slow, we may see a move down to 1,3052 if 77 is secured.

yap broda, e/u might see that 320 i talked of yesterday.
may be, lets see.

EU MORNING CALL - 11/04/13

***Fitch said Japan's QE easing benefits are temporary if without structural reforms.

***S&P revised the outlook on Cyprus to stable from negative and affirmed at CCC.

***Moody's said Portugal constitutional court's ruling on budget is credit negative.
***Loeb's Third Point is starting a hedge fund focused on buying Greek assets after a wager that European officials would rescue the indebted nation from financial collapse helped drive gains last year for his firm.

***AUD weakened following the release of a larger than expected decline in employment change at -36.1K vs. -7.5K, and unemployment rate climbing to a three-year high of 5.6%.

***UBS raises 2013 Brent price forecast to USD 108.89 from USD 107.00 and raises WTI price forecast to USD 91.35 from USD 90.00.

source:http://fxknight.talking-forex.com/!#/live.html