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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #67,181
  • Apr 12, 2013 9:00am Apr 12, 2013 9:00am
Quoting PipTrapper
Okay this is starting to look very interesting. Seeing as I fully expect the Euro to attempt another push to the upside, plus the fact that the Aussie has overextended its bullish bias once more, and because the EUR/AUD has fallen much further than I originally anticipated, I am ramping up my bullish EUR/AUD campaign I currently have an underwater long EUR/AUD position from last month at 1.2622 and I added two more this month in the lower regions at 1.2332 and 1.2393. I also plan on scaling in more buy positions as price progresses towards my first...
May the pips be with you brother
Trade smaller than rational because the market is irrational...
  • #67,182
  • Apr 12, 2013 9:07am Apr 12, 2013 9:07am
US dollar skidding lower



Session low in USD/JPY after soft February US business inventories (+0.1% vs +0.4% exp). That means econmists will be revising Q1 GDP forecasts lower. No follow through on the break so far.
EUR/USD is at the highest since early in European trading.
Trade smaller than rational because the market is irrational...
  • #67,183
  • Apr 12, 2013 9:09am Apr 12, 2013 9:09am
EUR/USD trims losses, still below 1.3100

FXstreet.com (Córdoba) - After finding support at the 1.3035 area, the euro managed to trim intraday losses against the greenback after data showed US retail sales unexpectedly declined in March and amid news the Eurogroup gave green light to a €10 billion loan to Cyprus.

However, the recovery of EUR/USD has been so far capped by the 20-hour SMA at the 1.3090 area. At time of writing, EUR/USD is trading around 1.3080, still down 0.1% on the day.

"As long as buying interest around mentioned 1.3040 remains intact, current dips are seen as short term buying opportunities", says Valeria Bednarik, chief analyst at FXstreet.com. Bednarik sees next supports at 1.3040, 1.3000 and 1.2970, while she places resistances at 1.3115, 1.3150 and 1.3185.
Trade smaller than rational because the market is irrational...
  • #67,184
  • Apr 12, 2013 9:18am Apr 12, 2013 9:18am
Still Long and strong from 60 will see what Ms Market does.

May bail and re enter if she gets weak in the knees here.
Trade smaller than rational because the market is irrational...
  • #67,185
  • Apr 12, 2013 9:27am Apr 12, 2013 9:27am
Pipnography for Pip Pervs
Attached Image
Trade smaller than rational because the market is irrational...
  • #67,186
  • Apr 12, 2013 9:28am Apr 12, 2013 9:28am
Quoting PipTrapper
Okay this is starting to look very interesting. Seeing as I fully expect the Euro to attempt another push to the upside, plus the fact that the Aussie has overextended its bullish bias once more, and because the EUR/AUD has fallen much further than I originally anticipated, I am ramping up my bullish EUR/AUD campaign I currently have an underwater long EUR/AUD position from last month at 1.2622 and I added two more this month in the lower regions at 1.2332 and 1.2393. I also plan on scaling in more buy positions as price progresses towards my first...

New template
  • #67,187
  • Apr 12, 2013 9:38am Apr 12, 2013 9:38am
Quoting rekon67
New template
New and improved

Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-01-new-and-improved.jpg Size: 100 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #67,188
  • Apr 12, 2013 9:38am Apr 12, 2013 9:38am
EUR/USD Stalls Climb Around 38% Retracement Level

EUR/USD (daily chart) as of April 12, 2013 has stalled its climb of the past week around the 38.2% Fibonacci retracement level of the two-month bearish trend from early February to early April. This bullish correction reached a high yesterday around the 1.3138 level before stalling its climb. Not only is this price resistance area around the key 38.2% Fibonacci level, it is also in the region of the 50-day moving average.
Having bumped up against this tentative resistance, EUR/USD may be exhausting its rally. A breakdown below the key 1.3000 level would provide some confirmation of this exhaustion, and an indication that price could be looking towards a resumption of the bearish bias that has been in place since the beginning of February. In this event, a key downside objective remains around the 1.2650 level. A breakout above yesterday’s high could extend the current bullish correction towards 1.3300 resistance.
Trade smaller than rational because the market is irrational...
  • #67,189
  • Apr 12, 2013 10:35am Apr 12, 2013 10:35am
Out of long @ 60 for +30

Me and Ms Market held hands on this one long enough

Reason:

PA went under 10M 5SMA and...

RSI3 went under 50 and...

1M candle had a couple reds.

Waiting for the next opportunity and if not have an existing long @1.3131
Trade smaller than rational because the market is irrational...
  • #67,190
  • Apr 12, 2013 10:37am Apr 12, 2013 10:37am
Quoting PipTrapper
Okay this is starting to look very interesting. Seeing as I fully expect the Euro to attempt another push to the upside, plus the fact that the Aussie has overextended its bullish bias once more, and because the EUR/AUD has fallen much further than I originally anticipated, I am ramping up my bullish EUR/AUD campaign I currently have an underwater long EUR/AUD position from last month at 1.2622 and I added two more this month in the lower regions at 1.2332 and 1.2393. I also plan on scaling in more buy positions as price progresses towards my first...
Looking good so far. Hopefully we get continuity on Monday and I see this sucker soar like an eagle.

I think I'll send it a nice book to motivate it.



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Those who say it cannot be done should not interrupt those who are doing it
  • #67,191
  • Apr 12, 2013 10:38am Apr 12, 2013 10:38am
Quoting EuroTraderJD
Out of long @ 60 for +30 Me and Ms Market held hands on this one long enough Reason: PA went under 10M 5SMA and... RSI3 went under 50 and... 1M candle had a couple reds. Waiting for the next opportunity and if not have an existing long @1.3131
+30. Nice
Those who say it cannot be done should not interrupt those who are doing it
  • #67,192
  • Apr 12, 2013 10:44am Apr 12, 2013 10:44am
Quoting PipTrapper
+30. Nice
Thanks PT. It was easy. Plan your trade and trade your plan.

I have very specific rules of engagement and.... disengagement.

I never forget when you pull the pin on a hand grenade it is never your friend.

Same with executing a trade.

Amazing how life replicates trading.
Trade smaller than rational because the market is irrational...
  • #67,193
  • Apr 12, 2013 11:08am Apr 12, 2013 11:08am
Quoting EuroTraderJD
Thanks PT. It was easy. Plan your trade and trade your plan. I have very specific rules of engagement and.... disengagement. I never forget when you pull the pin on a hand grenade it is never your friend. Same with executing a trade. Amazing how life replicates trading.
Yes same can be said about marriage
The wife is the prize
The in-laws are the danger
Those who say it cannot be done should not interrupt those who are doing it
  • #67,194
  • Apr 12, 2013 11:34am Apr 12, 2013 11:34am
Some EUR/USD technical analysis

There is no easy way to explain the euro rally over the past two weeks. Certainly some sense of finality about Cyprus was at work but Japanese money flowing into European bonds (or people frontrunning that trade) have been the drivers.
Looking at the daily chart, the 100-day moving average has capped gains so far along with the 38.2% retracement of the Feb-March decline.
http://www.forexlive.com/wp-content/...13-330x231.png
There isn’t a strong bias on the chart but I lean toward the upside, if only because there hasn’t been a strong rejection at those technical levels.
Trade smaller than rational because the market is irrational...
  • #67,195
  • Apr 12, 2013 11:35am Apr 12, 2013 11:35am
Quoting PipTrapper
Yes same can be said about marriage The wife is the prize The in-laws are the danger
Very true. In my experience the odds are the in-laws soon become the OUT-laws...hehe
Trade smaller than rational because the market is irrational...
  • #67,196
  • Apr 12, 2013 11:52am Apr 12, 2013 11:52am
To all my FX brothers who requested the MM Pyramid PDF, check your email you gave me in the PM. I just sent a batch of them out.

Again I have to say I am humbled by your requests and kind words.
Trade smaller than rational because the market is irrational...
  • #67,197
  • Apr 12, 2013 11:54am Apr 12, 2013 11:54am
Bet on U/J no touch @ 100 for the week, expiring in an hour it was too close at some time
  • #67,198
  • Apr 12, 2013 11:59am Apr 12, 2013 11:59am
Commodities were also pressured by the dollar, which gained strength against the euro and the British pound.
http://money.cnn.com/2013/04/12/inve...tocks-markets/
  • #67,199
  • Apr 12, 2013 12:15pm Apr 12, 2013 12:15pm
Ok, so I'll admit that I'm a n00b regardless of 5 years experience, and kindly ask anyone to explain one thing: what makes it possible for the EUR to neglect moves of GBP, USD and oil, which normally tend to correlate?
  • #67,200
  • Apr 12, 2013 12:31pm Apr 12, 2013 12:31pm
Think from single currency perspective,

people like buying USD = USD gaining strength

people like buying GBP = GBP gaining strength

people like buying Oil = Oil gaining strength

people confused on EUR = EUR moves in a narrow range
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