EUR/USD

The pair is just now breaking below an important wave support at 1.0713. High chance of reaching 1.0520 again.

Nice Speech... LOL.

The EUR/USD has just moved beyond a new period seperator line and is holding firmly above a grid line around the middle of my screen. If he moves further like this we have a good chance that he will reach another period seperator line around the same time tommorrow.
A break above or below any Grid line until then can be disregarded I think.

EURUSD fell on yesterday session, driven by concerns about Greece debt situation and the Eurogroup meeting on April 24th but many officials have suggested an agreement that will grant Greece a new tranche of aid is unlikely before May 11. The pair closed near the low of the day and the stochastic is showing bearish momentum coming in to the market.

EUR / USD traded lower on Monday, but continued in its short-term upward channel.
Momentum indicators, recommend caution.
The RSI moved in low and seems prepared to cross below its line of 50, while the MACD, although positive, came down and fell below its signal line.
The standard 'double bottom' if there is confirmation could allow bullish extensions.

EUR/USD daily chart buy-stop entry signal

Due to the fact that yesterday's bar has a lower high and a lower low than the bar from last Friday, a major buy-stop entry was created.

Buy the high from yesterday (ask plus 1 pip) is the exact buy price.
The high from last Friday can also be bought (ask plus 1 pip) is the buy price.
Tomorrow - the high from today can be traded with the same setup (ask plus 1 pip)

Attempt to trade short-term to near 1.1000 and
longer term to near 1.1300

The daily chart is currently in a closed trading range and today's bar is nr. 25.

A closed range has a measuring bar (MB) where all following bars have either their open price or close price or both (open and close) inside the high and low of the MB. It also consists of more than 20 bars (otherwise it would be called congestion)
In this scenario the MB is the long bar from March 18.

As I have mentioned before, a doji bar (or near doji) is often an indication that prices will start breaking out of the range soon.

EUR/USD did break below at 1.0740 but then returned to its previous levels above the support. I wonder whether this is the end of the move to the downside for the moment or will we see another break below 1.0740.

A bunch of "recapping" going on in this thread, and no signals being made. What a boring thread to be subscribed to.

It's weird how the EUR/USD is unable to break the support or the resistance levels and remain in the range.

Time to dust off the old fx clairvoyant Yuri Dollar to give us the sell/buy trade of 7000 PIPs we all want. Best to trade for ourselves methinks

Such a strange day for the EUR/USD today while the price moving up and down the 1.0740 . So what is next?

sherifFares posted:
It's weird how the EUR/USD is unable to break the support or the resistance levels and remain in the range.

In my last post 3 hours ago I explained how closed ranges work and posted a signal.
Trading ranges historically break on bars 21 to 29. Today's bar is nr. 25. On the daily chart that means it can last up to 29 trading days or more until prices break out of the range.

Watch for a possible doji bar today on the daily chart.
It usually is the first indication that prices will break soon.

takechance posted:
The pair is just now breaking below an important wave support at 1.0713. High chance of reaching 1.0520 again.

At the end of the day somehow managed to close at 1.0735, above that crucial support and formed a doji candle which indicates market is again undecided and waiting for a clear signal coming out of the Friday meeting.

EUR/USD is back to square one after more than 100 pips down today, unable to determine a clear direction. Upside immediate resistances can be found at 1.0780 today's high.

lets see if the EURUSD goes back down, it is still weak, even after today's small rally. It couldn't break above the 1.0800 level, but the 1.0700 could act as support again.

csc2009 posted:
EUR/USD is back to square one after more than 100 pips down today, unable to determine a clear direction. Upside immediate resistances can be found at 1.0780 today's high.

Still bearish, 1 hour chart shows that the 20 SMA offers support around 1.0715.

EURUSD initially fell but found enough support at 1.0680 Fibonacci level to turn around and close at the open creating a Doji pattern. We may expect choppy trading ahead of the Eurogroup meeting on April 24th. The pair is being squeezed between the 10 and 50-day moving average.

The consolidation getting tight for the EUR/USD for the second day in a row and no signs for good point to trade.

honeill posted:
EURUSD initially fell but found enough support at 1.0680 Fibonacci level to turn around and close at the open creating a Doji pattern. We may expect choppy trading ahead of the Eurogroup meeting on April 24th. The pair is being squeezed between the 10 and 50-day moving average.

I agree. I thought the doji candlestick on the EUR/USD daily chart was a signal that the pair would move to the upside but that was not the case. Consolidation continues for the moment and I doubt it will end before the Eurogroup meeting.