(Im coming back to the trading desk this week after 3 weeks of vacations!)
Im opening a long EUR position to hold over the weekend and with a multi-day horizon. The rationale is both technical and fundamental.
Technicals: For the first time in a long time, EURUSD printed a Golden Cross (50-day MA is at 1.1174 vs 200-day MA at 1.1168), and the currency is trading...
Hey traders, there are more than a few opportunities setting up on the EURUSD, this one is still a ways away from me taking it serious, but believe it or not, it's the smallest of the potential opportunities. (The bigger potential patterns are on the 4 hour and Daily charts)
What we have here is a potential bearish pat pattern which would complete at 1.1418. Now...
It's a busy Monday in the Markets as we're seeing a lot of corrections from last week's major news event. I've got a lot on my radar including potential longs on GBPJPY & AUDUSD. As well as a few potential shorts on GBPJPY & USDJPY. In fact the USDJPY may be filled already on a bearish Cypher .
Speaking of Cyphers we have a potential bullish Cypher here on the...
We stayed out of the Euro last week to let the FOMC announcement shake the "playa's" out of the market. Even after the hoopla, price is still contained inside the wedge. The daily chart is ugly so we look at the Weekly to give us the story. If we get a weekly close outside of the wedge expect them to eat up the supply from the week of 8/24 and try to run the...
The Euro has hit our zone this evening and we are on the sidelines. This weeks FOMC will have an effect on the Euro and we don have enough time to take a position before that meeting. If you must trade don't get married to the trade.
KEEPING THINGS SIMPLE ON THE EURUSD - NOT OUT OF THE WOODS YET
(1 day, log scale)
As said previously, I couldn't even believe EUR would show itself to be THIS strong. Well, it turned out to be short-lived. At least for now. Let's see where we stand. It's not all that negative :o)
- ever since the EURUSD is looking for support
- but hasn't found it yet
- the RSI...
Potential Bullish Gartley pattern here on the EURUSD 1 hour chart completing at 1.1206. The recent consolidation on the Euro has been good for pattern traders allowing us to profit on the Gartley/Cypher from earlier in the week, hopefully this Gartley can deliver us the same. (tradeempowered.com)
One thing about this particular...
We look at the Weekly chart of the Euro and last weeks trading
suggests more downside. Understand that the selling that happened last week and the fact that we are back inside the wedge suggest more selling is coming. We will look for bounces to resistance and look for TRIGGERS. If they take another stab at a breakout watch the high of last week. If we reach...
The Euro is back under major resistance...was this a fake break out? We are watching closely and looking for opportunities to the short side. if the bulls rally and take out the most recent highs then the squeeze will be on and Euro bears will be jumping off the ship. We want to see a test of the major resistance and sellers to step in. NO TRIGGER, NO TRADE!
Following up on yesterday’s EURUSD analysis, the market reached my killzone and we saw a slight bullish bounce as previous resistance turned into support. We have now made our way back down into that zone, but this time the ebbs and flows of price action have set up a potential advanced pattern in the form of a bullish bat.
If you’re a Syndicate member, check...
KEEPING THINGS SIMPLE ON THE EURUSD
(1 day, log scale)
I couldn't believe EUR could show itself to be THIS strong. It's a crazy week. Shorts were stopped out - of course. My wrong.
- tops had been tested, and have now been broken (on heavy volume)
- we've moved outside of the range
- expect retracement first, and on that retracement, have a very good look at how...
Let's look at the really big picture here on the EUR/USD- the MONTHLY chart (log scale).
Note: this is of course NOT suitable for trading. Beware.
- protecting your savings (by going into USD)
- determining the overall trend (which pressure prevails, when going down to lower time frames?)
- as well as determining important support & resistance levels...
Srsly, I am done withe the troll. He got me rekt several times during the past month (in case you wanna help me out, consider a little tip ;). But this is the absolute top... If not, I gonna build a EU temple to worship the him from now on.
In yesterday’s post I mentioned that the EURUSD was at a decision point. Well, it looks like the markets didn’t decided to go with my decision to get short as I was stopped out on the 2618 opportunity. Luckily Jason had a monster day in the Syndicate bringing in just under 300 pips himself. That’s what friends are for!
Now that the Euro has broken and closed...
As price action makes its way back up towards previous structure highs, we’ll reach what I like to call a “decision point” in the market. I call it that because it’s at this point where our “IF/THEN” thought process comes in today play in our decision of whether to go long or short.
Because we have yet to break structure, I won’t touch on the long option, but...
KEEPING THINGS SIMPLE ON THE EURUSD / UPDATE
(1 day, log scale)
- tops have been tested, but could not get broken (even despite heavy volume)
- we're ranging, now down again
- note that the attempt to break the downward resistance line seems to hae failed
- RSI is showing no bullish signs, though it is holding up. It broke the resistance line, now a retest....