EURUSD

are you sure it is a buy???

yes

Initial resistance at Friday high 1467. Then there is chance to 11500 before reversal.

Let us see. I have now closed my shorts and started building up longs. Stop below 1480 though.

Waiting for the Next Hrly candle

You love pink eh? Great analysis there and superb screenshots showing how you did go long, LOL

the euro should have fallen to parroty by now. clear downtrend for over a year... i will hold onto my sell for ever... us interest rates rising any minute ????

wheres the crew? missing you!!

If it makes a HH GU should go to 5877, closes under 5722 make it less likely to happen

CAD indicating lower

Go long with a target 1.1645 and stop loss 1.132.

My model tell me that, EUR very strong this time. I see good entry go long EUR.

It is better than if you only go long EURJPY, EURNZD, EURCAD, EURUSD. Because EUR strong, and NZD, USD, CAD, JPY weak.

Whats your "model"?

Hit?

No shuffled my way to lower Entry now IN at 1.14239 (OUT of the 1st at BE)

EURUSD
Fundamental:
The main theme is still Fed's rate hikes timing and U.S data is what to look for but this rally has also been supported by slightly improved Eurozone data and rise in inflation expectations this relates to what we talked about a while ago when Portugal announced growth forecast to 2% for this year mainly due to lower Oil prices and lower currency. So it seems that this whole move up finds some fundamental support that initially seemed a bit dubious. The week ahead brings U.S CPI and FOMC minutes and with that more clues to possible further correction or time for retracement (the latter if we get amazing U.S data) from this whole move. CFTC wise there is still scope for further short squeeze as the market is still heavily short.

Technical:
Overall this week I am looking to a very similar scenario to AUDUSD last week (technically speaking) and that is clearing extensions H4, touching Fib levels on D1, if possible forming Pin bar same tf and respective acceleration down to 1.1000, since this move up started we haven't had a meaningful retracement yet, as we go higher probability for that increases.

Monthly chart: 1.27 Extension Scott's Bfly buy + Bullish engulfing targets 1.1806 and closest confluence at 1.2200

Daily chart: Here we saw Gartley D1 1.618 Extension vanishing but we already had clues about it: first market went down but unable to complete at least .382 retracement same Tf and then strong acceleration back to starting point, breaking the extension was only logical at 1.1395. Next confluence level on this tf points to 1.1550 but MR1 at 1.1485 should cause some reaction.

H4: We are still looking at the same pattern as last week (goes to show that ABCD H4 patterns sometimes can take up to 2 weeks to be completed), so, 1.27 extension already respected and as always question whether price returns to complete other extensions, I think it will mainly because of D1 chart, usually price doesn't change direction without completing harmonic targets. The good thing is that most time you get the bounce and chance to move stops.
Extensions:
1.27- 1.1469
1.414- 1.1497 MR1 at 1.1485
1.618- 1.1550 WR1 at 1.1564
H1: This time you can see Bfly Sell forming and target approx. in the same area as 1.618 Ext H4.

In the end of the day all patterns can fail but we are just making sure that the cost of finding out whether they do or not is almost nothing.
Warning signs that this scenario is only in my head: Breaking above 1.1564 is a bullish sign, from this point attention turns to 1.1800.
Conversely, before price completes the other extensions on H4, moves down shouldn't be too deep, I will be looking at WPP at 1.1347 to hold it.

Charts below: Daily and H4

pedro thanks for nice information .. hope same thing happend Br

It mean that my "Financial Models". It combine FA and TA.

If moon and the stars are aligned will get to your target 1.1536

U.S. economy more tortoise than hare
Published: May 17, 2015 9:01 a.m. ET
http://www.marketwatch.com/story/us-...are-2015-05-17

Wall Street just got more pessimistic about the US economy
Will the fed follow suit?

Matthew Boesler and A Catarina Saraiva, Bloomberg | 17 May 2015 11:32

Forecasting firm Macroeconomic Advisers now estimates the US economy contracted at a 0.9% % seasonally adjusted annualized rate in the first three months of the year.

The link for the above article

http://www.moneyweb.co.za/news/econo...he-us-economy/