EurAnalysis

US March leading indicators & Phily fed up next at 14.00gmt

Philly Fed 1.3 was 3

Leading Indicators -.1 was 0.1%

Latest chart porn or Pipnography for us Pip Pevs


http://www.forexfactory.com/attachme...1&d=1366294006

Dollar & Yen slump on US data

USD/JPY has been especially sensitive to US economic data in recent weeks, as traders look for signs of a more-robust recovery in the US before putting on new bets that the dollar can resume its upward trend against the yen to warrant Y100. Instead, Thursday's disappointing reports--Philly factory activity decelerating and the Conference Board's March index of leading indicators down--have pulled the dollar below Y97 and undercut risk appetite across the board, with the euro tumbling as well. Dollar down against the yen, at Y97.95 from Y98.11, according to EBS via CQG. Euro now in the red at $1.3031.

Long @ 56

Reason:

PA above 5 SMA and 15 SMA

RSI3 above 50

Out of 56 long for a quick 14

Take the money and run.

Coordinated ramp in EURUSD and USDJPY

Faded this move. Took a risk here but ITM already.

Short @ 75

Well damn I got a call to go to a client and have to leave.

Work is getting in the way of my trading again.

Anyway to those who requested my MM Pyramid doc, I sent them out. Also for the brothers who emailed me questions on PM and my personal email I will answer them when I get back.

One more news release before I cut out

Big Dip and Spike

It's been a volatile morning trading the euro. Comments from the IMF's Lagarde on Bloomberg TV suggesting that the ECB has room to ease monetary policy sent the euro tumbling to $1.3026, but that move was followed quickly by a spike back up to as high as $1.3085. Traders say there was no specific trigger for the rebound. "It just bounced right back from the low," as speculators have been keeping the euro in a range, says George Dowd, head of FX at Newedge in Chicago. Euro now finding a comfort zone around $1.3065 from $1.3033 late Wednesday, according to EBS via CQG

What a woman!

How nice. I come back from an IT meeting and I see Ms Market greeting me at the door with +26 (risky short at that time @75) pips and growing (by the looks of the 5&15 SMA both 10M & 30M).

What a woman. Glad I didnt kick her to the curb with a SL when the price went to 309x.

Almost as good as Hot Mama having a dinner for me when I come over.

Well I have to meet Hot Mama for Martinis and dinner but before I go I leave you with

Pipnography for Pip Pervs


http://www.forexfactory.com/attachme...1&d=1366317736

Bear Flag forming

 

1. Risk soured in NY afternoon (More)
2. Bears encouraged by failure to hold 10 DMA & consolidation at recent lows
3. Short-term charts show a bear flag forming as well
4. Bear flags typically resolve in the direction from which they entered
5. Completion of pattern suggests test of 200 DMA & beyond is on the cards

EU Tech Trader

A megaphone pattern is doing serious damage both to trend and tight range traders here. We've adjusted our offer closer to the last two day's highs and the upper 21-day Bolli band to avoid the middle of this expanding, yet non-trending, range on the daily charts.

1.3100 A magnet and bias is lower

 

1. Erratic European climb undone by soft Wall Street & lack of Italian Govt
2. Inside day at lower end of Wed's range - opens little changed
3. Comes towards end of second week 1.3000/1.3200
4. Steady stream of soft EZ data weighs - Japanese inflow a phantom
5. NY 1.3026/1.3096 range sup/res - bias lower
6. Chart: http://link.reuters.com/cud57t

More Pipnography for Pip Pervs

http://www.forexfactory.com/attachme...1&d=1366329961

USD Techs holding below 50 Day MA

 

1. Wednesday saw sharp reversal ahead of the 50% fib - bears front running
2. Further bearish evidence - price subsequently seen holding below 50 DMA
3. Next support level to be tested is the 200 day MA at 1.293
4. Holding below 1.293 would open up new lows below April 4's low
5. Likely new lows are coming - get short with stop at 1.316
6. Chart: http://link.reuters.com/pad57t
7. See (More) for more

While its dead and we are all sitting around holding our pip pip...
EUR/USD – Rallies Above 1.30
http://forexblog.oanda.com/20130418/...es-above-1-30/

EUR Tech Trader
For now we have our offer at the 50% fib of the decline from the Feb high - at 1.323. We will lower our offer should there be further bearish evidence - a close below the 200 day MA would provide that evidence.

Hello all,
following up on my latest update on the Euro FX futures, here is a new update and chart.

Attached Image (click to enlarge)
http://www.forexfactory.com/attachme...1&d=1366371867



The Euro is finding support at an extension area starting at 1.3040. On a smaller timeframe (4-hour) is ha resistance starting at 1.3105. This is a box play at the moment and the two levels to monitor are: 1.3132 on the upside and 1.3000 on the downside.

The two scenarios are:

Scenario 1. Price is at the 1.3100-05 area of resistance at the moment. If the Euro is capable of climbing above the 1.3132 level the support area starting at 1.3040 that held in the last days is confirmed. In that case, even if price should come back for a re-test, that support and long participation area could hold.

Scenario 2. If the resistance at 1.3100-05 sees participation on the short side, this could help price breaking the 1.3000 level and bring price slighly lower into the next area of support and long participation starting at the 1.2980. There price could also find the retail participation buying the test of the 20-day SMA. We could see a bounce towards new highs or at least towards the next resistance area starting at 1.3240.

Let me know what you think. The related video will be on my blog in the European afternoon.

Thanks
Cheers
-fibstalker