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EURUSD

  • #1,063,801
  • Apr 7, 2016 9:23am Apr 7, 2016 9:23am
The EUR/USD is slightly to not changed in today's session after reaching major resistance at level of 1.1450. Low volumes are a signal for a change in trend and if this is case also, then we should see 1.1250 next week.
  • #1,063,802
  • Apr 7, 2016 9:25am Apr 7, 2016 9:25am
My outlook 7th April EURUSD - Short

As indicated in last week's Weekly Chart Analysis the pair is within the major resistance zone, bears could look for the short reversal setup from the current levels.
My preference would be to look at the stochastic oscillator on daily charts and seek a daily engulfing candle. Please read Stochastic Oscillator guide to maximize your understanding of this indicator
Daily stochastics shows overbought levels and the last daily candle looks like a good beginning of the reversal pattern. The correction could be as deep as 1.11 before another leg up would resume.
Based on this scenario, there is a short opportunity in EURUSD. Daily charts show a sign of reversal from the major resistance at 1.1430. Stochastics are also well positioned for shorts.
The major risk in this setup is Yellens speech later on. Depending on FEDs bias, EURUSD might be volatile.
I would like to wait for the price to break 1.1230 and the pullback towards the 1.1330. (see the chart). This would give more confirmation of the correction to the downside.
This area can also prove to be a lower high and bulls can pick it up if Yellens comments are dovish.
If this is the case, we are likely to see fresh high in EURUSD in the coming weeks.
If the short position is filled after the break of 1.1230 and stopped out, it could be easily reversed.
It most likely, it will be after Yellens speech before this scenario plays out.
If the price prints 1.1420 first, the setup will be invalid.
Target 1.1150



Date: 04/06/2016
Pair: EURUSD
Price: 1.1330
Trade: Sell Limit
Lot Size: 0.03
Stop Loss in Pips: 100
Take profit in pips: 280
Risk of Equity: 3%
My Trading Checklist
ARE THERE MAJOR RISK EVENTS TODAY/THIS WEEK: Yes
Is the market risk off or on? SP500, DAX, NIKKEI. Are the down or up: Not clear to me
Is this trade with the trend?: Reversal
Did I see it yesterday?: Yes
Is this a pullback measured by Fibs?: Yes
Am I buying support?: N/A
Am I selling resistance?: Yes
Is this entered during London's session?: Not sure. Its a pending order
Did the price pulled back from 200MA on 15Min?: Yes
Are stochs extreme on multi charts?: Yes
Where is the price in terms of Pivots Points?: Resistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd short 1.JPG Size: 175 KB
Click to Enlarge Name: eurusd daily.JPG Size: 161 KB
HumbleTraders
  • #1,063,803
  • Apr 7, 2016 9:26am Apr 7, 2016 9:26am
Quoting Rosey76
EJ and UJ both down, so long EU is not that efficient. why not just short UJ?? It is just a little math, UJ needs to down more than EJ to make EU up. If you think EU down, then just short EJ, because EJ needs to down more than UJ to make EU down if that is what you think.
i said that 11 hours ago and nobody just read that. so many people are still struggling with euro and do not know why EU and UJ go the same direction at times.
I ignore fools
  • #1,063,804
  • Apr 7, 2016 9:29am Apr 7, 2016 9:29am
Quoting Rosey76
{quote} So just short both EJ and UJ for god's sake.
Quoting Rosey76
{quote} I even begged you guys to short EJ and UJ. Anyone listened? Or anyone understood?
nobody cared to read.

people even went ahead calling me a troll. I am not a troll.
I ignore fools
  • #1,063,805
  • Apr 7, 2016 9:33am Apr 7, 2016 9:33am
Quoting Rosey76
now the market mover is nikkei, how deep it can tank. this will affect dax to tank or not. they are going to affect euro and yen
anyone read and understand the above post?? I guess not.
I ignore fools
  • #1,063,806
  • Apr 7, 2016 9:36am Apr 7, 2016 9:36am
Quoting Rosey76
{quote} {quote} nobody cared to read. people even went ahead calling me a troll. I am not a troll.
I am not a troll. Do not call me a troll.

Inserted Video
I ignore fools
  • #1,063,807
  • Apr 7, 2016 9:44am Apr 7, 2016 9:44am
Quoting Rosey76
{quote} I am watching Nikkei to break down through. give me a call when it does. My phone number is 123-456-7890
I still got no calls from anyone.
I ignore fools
  • #1,063,808
  • Apr 7, 2016 10:01am Apr 7, 2016 10:01am
I really do not understand why Draghi is trying to protect Euro when Eurozone is going so bad against all US, China etc. while Yellen is doing the opposite and doing a more clever job.

I am still at the short Euro side and shorted Euro at 1.1420.

Any suggestions about the direction of the Euro/USD?
  • #1,063,809
  • Apr 7, 2016 10:19am Apr 7, 2016 10:19am
Quoting rersoy76
I really do not understand why Draghi is trying to protect Euro when Eurozone is going so bad against all US, China etc. while Yellen is doing the opposite and doing a more clever job. I am still at the short Euro side and shorted Euro at 1.1420. Any suggestions about the direction of the Euro/USD?
why you try to use a name that looks like me?? you cannot find a new name??
I ignore fools
  • #1,063,810
  • Apr 7, 2016 10:22am Apr 7, 2016 10:22am
Quoting rersoy76
I really do not understand why Draghi is trying to protect Euro when Eurozone is going so bad against all US, China etc. while Yellen is doing the opposite and doing a more clever job. I am still at the short Euro side and shorted Euro at 1.1420. Any suggestions about the direction of the Euro/USD?
And you from the US central region but claim from Turkey? You used a name similar to mine to confuse people??

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot from 2016-04-07 10:19:44.png Size: 35 KB
I ignore fools
  • #1,063,811
  • Apr 7, 2016 10:27am Apr 7, 2016 10:27am
Quoting rersoy76
I really do not understand why Draghi is trying to protect Euro when Eurozone is going so bad against all US, China etc. while Yellen is doing the opposite and doing a more clever job. I am still at the short Euro side and shorted Euro at 1.1420. Any suggestions about the direction of the Euro/USD?
If you really like use the following avatar too. I will find a new one.

Attached Image
I ignore fools
  • #1,063,812
  • Apr 7, 2016 10:31am Apr 7, 2016 10:31am
VXX going up. so the stock market expects volatility to come. I felt the same earlier.

Quoting Rosey76
{quote} ok, spx was left un-pumped. Nikkei tanks tonight, followed by dax. VXX going up baby.
I ignore fools
  • #1,063,813
  • Apr 7, 2016 10:32am Apr 7, 2016 10:32am
are we to discuss eur/usd or your suspicions?
i was born in 1976 and my name is riza Ersoy from Turkey.

Any real comments to eur/usd?
  • #1,063,814
  • Apr 7, 2016 10:42am Apr 7, 2016 10:42am
Quoting rersoy76
are we to discuss eur/usd or your suspicions? i was born in 1976 and my name is riza Ersoy from Turkey. Any real comments to eur/usd?
ok my fault. apologies.
I ignore fools
  • #1,063,815
  • Apr 7, 2016 10:45am Apr 7, 2016 10:45am
is price waiting for USD Fed's Yellen in New York, with Greenspan, Bernanke and Volcker at 10.30 BST
  • #1,063,816
  • Apr 7, 2016 10:45am Apr 7, 2016 10:45am
Quoting chess king
{quote} your levels are different from mine ... i have 107 60 as strong support.. while below 113 74.
UJ very close ... I tried a little long at 107.70...
  • #1,063,817
  • Apr 7, 2016 10:48am Apr 7, 2016 10:48am
Quoting chiny-fx
is price waiting for USD Fed's Yellen in New York, with Greenspan, Bernanke and Volcker at 10.30 BST
Yellen will talk in the evening after the US session close. The FOMC minutes did not cause a thing, why would Yellen's talk after-hours cause a thing?
I ignore fools
  • #1,063,818
  • Apr 7, 2016 10:55am Apr 7, 2016 10:55am
Quoting Rosey76
{quote} Yellen will talk in the evening after the US session close. The FOMC minutes did not cause a thing, why would Yellen's talk after-hours cause a thing?
on the hourly euro has been channeling since 31 March with no real direction especially seeing how across board price has moved significantly - not saying EURO has to move also to the same degree but it looks like it gearing up for a move and perhaps this talk will be the excuse ti neads -
  • #1,063,819
  • Apr 7, 2016 11:04am Apr 7, 2016 11:04am
Quoting chiny-fx
{quote} on the hourly euro has been channeling since 31 March with no real direction especially seeing how across board price has moved significantly - not saying EURO has to move also to the same degree but it looks like it gearing up for a move and perhaps this talk will be the excuse ti neads -
money flows drive the market. I explained that before in my old posts but nobody cared to read and understand. Right now the money flow is Yen invested in other regions trying to flow back to its origin. Euro also does the same. Selling Euro against yen makes euro down and yen up. Selling other currencies against euro (euro flows back) makes euro up. So watch nikkei and dax.
I ignore fools
  • #1,063,820
  • Apr 7, 2016 11:10am Apr 7, 2016 11:10am
Quoting Rosey76
{quote} money flows drive the market. I explained that before in my old posts but nobody cared to read and understand. Right now the money flow is Yen invested in other regions trying to flow back to its origin. Euro also does the same. Selling Euro against yen makes euro down and yen up. Selling other currencies against euro (euro flows back) makes euro up. So watch nikkei and dax.
you would say selling other currencies against the dollar makes the dollar up. It will happen when the flow process of euro and yen finishes. The dollar is still the safest heaven, and when the world is in a financial turmoil, people will go to the dollar.
I ignore fools
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