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EURUSD 6E Euro
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EURUSD 6E Euro

  #2161 (permalink)
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Wedge now....

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could go both ways.... we'll probably test both support and resistance again I guess.

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  #2162 (permalink)
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exactly the same thing I was looking at @sharpshoota even though overall I'm bullish and thinking it can go down a bit around 1.0840 but then expecting it to go up. Was long today but scratch it as there is FOMC talking and then Job Openings in 50 mins so don't want to be in with some tight stops

Consistency over time
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  #2163 (permalink)
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it may have a pullback (previous resistance, double top on renko and may form a smaller wedge) if it breaks then it can go up to 1.0900 - 1.1000 or even test yesterday low ~1.9080 with positive momentum

VWAP ~1.088

-- edit --
that didn't work out so, 4points shy, I would still see it like this:
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So it would somewhat correspond with:
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Currently in a range with slightly negative momentum wearing off though.

Even though I'm still bullish overall - there must be something wrong with me

Chris

Consistency over time

Last edited by chr1s; April 7th, 2015 at 01:13 PM.
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  #2164 (permalink)
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@sharpshoota and @chr1s, I see the wedge also. side ways is also a possibility between the 1,1 and 1,07 range. Next week is some US PPI and Retail sales for march and the next FOMC meeting is on 28-29 April so that could shed some light on if the Fed will take a more dovish stance with interest rates.
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  #2165 (permalink)
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Marc to Market
With full liquidity returning to the markets, the US dollar has built on the recovery seen in the North American afternoon yesterday. The greenback's gains against the euro are particularly surprising; catching many off guard. The euro has slumped two cents from yesterday's highs, completely giving back the gains scored in the wake of the disappointing US jobs data before the weekend.

The euro's slump comes despite the relatively constructive service PMI readings and further confirmation that Greece will make its IMF payment this week. The eurozone service PMI rose to 54.2 from 53.7 in February and is the highest since last July. The flash reading was 54.3. France was the main source of disappointment, coming in at 52.4 from 52.8 of the flash, down from 53.4 in February. The French composite stands at 51.5 down from 52.2 in February.

Other than that, the other reports were mostly encouraging. Germany increased to 55.4 from 55.3 in the flash and 53.7 in February. Spain rose to 57.3 from 56.2. Italy surprised the most to the upside, rising to 51.6 from 50.0. It reported the largest employment gain since late-2010. In the region's composite, the ratio of new orders to inventories continued to improve to stand at its best level in nearly a year.

The employment indicator was the highest in four years. The PMI is consistent with growth around 0.4% in Q1. There is also some reason to think that price pressures are bottoming. The output price component rose each month in Q1though it remains below the 50 boom/bust level.
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The euro found a bid near $1.0835, which is a retracement objective of the euro's rise from $1.0715 on March 31 to the $1.1035 high seen yesterday. Chart support is seen near in $1.0790-$1.0800 area, and a break would sour the tone, suggesting a retest of what we had thought was the bottom of the new range $1.07.

I have approximate answers, possible beliefs and different degrees of certainty of different things. But I'm not absolutely sure of anything and there are many things i don't know anything about.
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FOMC(?) that was quick

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Consistency over time
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  #2167 (permalink)
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the beloved triangle
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Consistency over time
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chr1s View Post
FOMC(?) that was quick

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funny how head and shoulders can also be explained with price action, the lower low ran my stop so I was out of the game for the day
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more random lines on weekly and monthly charts. on the weekly, we could just be in a bear flag. the monthly, free fall. I really want to build a bullish story but it really does not look like a promising up side to the euro since the bottom resistance would be the beginning at around 0,8
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Hi @JohnS,

Yeah, it all comes down to price action (and volume...and time...and psychology...and... ), and in hindsight I can explain everything, I'm just going to use this real example to explain
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The reality is that I'm just glad I wasn't trading during that time, it was quite berserk, I would have been stopped out as well as I was quite bullish since the Asian session.

All the best,
Chris

Consistency over time

Last edited by chr1s; April 8th, 2015 at 06:48 PM.
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there is possible some channeling around
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General mixed bias but wondering if this is true:
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if so those guys will have to take profit somewhere, I've already been tricked by longs today :/

additionally some bigger news today so will see where it goes after those

cheers
Chris

Consistency over time
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