EURUSD

Yes i witnessed very wild movements when yesterdays NFP was released.

Monday London session was a very directional, the Franky traded below the Asian. London did not fade it. But it still did not break the 103x, NY also did not.

This 103x level is important. Then 100x. The possible scenario I'm looking to trade today is a false break below & then back to the 1070 range.

But if there is a solid break to the downside below these, it will be really important. Let us see where the London opens tomorrow,

I'm long at 292 during the NY. If the low breaks, then I'll exit the position, but for now I've moved the SL to near BE.

Update: SL hit.

This mini range on the 5M, I'm now waiting for a break to either side, or a false break below. I'm sidelined now, because this could break lower as well.

EUR is waiting for CPI. And the london session so far looks ranging, the news will be the mover.

The levels in play are 1.1040-1.1035 support, the break below it will mean that the price has failed over the larger resistance marked on the chart.

The Resistance levels are 1.1050-1.1059 resistance. The break would push the price to 1.1072 Resistance.

I have closed long with 7 pips as the session appears dead.

Chart 1 Attached..
Chart 2 is sessions chart showing session high lows..

5 min Chart looks a bit weak:

The frankfurt bar has rejected at the nearest hourly resistance. This is a bad sign for the buyers. The frankfurt rejecting at the high means trend continuation. The pressure will remain on the sell side.

If you must buy then only trade the edges and buy below the support mentioned on any bar that break high only before 12 pm london time.

1.1024-1.1032 resistance.
1.1000 Big round number support

My entries are marked on chart 1, i got a net loss 1 pip. Since i cant sell the highs anymore(frankfurt candle), i will not place any trades because i don't prefer scalping.

It is ECB day expect high volatility and stops may blow, remember to not get chopped out while trading, plan your entry at the zone or level you want to buy and sell or buy, and only get out if the entry is voided to avoid over trading, news trading can lead to spikes on both sides. End result of over trading is market barely has moved but money has been lost.

Hello traders,

I am biased short EUR in this week but the current london session looks like it is an unstoppable climb.

Be careful with the shorts in this day, the price may stretch far and wide before collapsing.

Updated levels:
The big colored boxes between the lines are like support or resistance.

We don't have much along the lines of bearishness, unless the day suddenly peak out, but that rarely happens till late london session. Outright shorting this days bar is risky.

If you are an intraday trader, buy 15 min pullbacks with last 15 min lows as stops.

Entries i took.
See my previous post, the long still have pressure.

Took scalp long:
Keep being long till you see a major hourly low break down.

I am logging off guys, may take another trade or manage my position but wont post about it.
I have stated my bias, this week could be short but this day doesn't look like it is going down today.

Stay safe don't fade the trend.

On the DXY, it is at the range low on the daily.

These are the possible scenarios.

a. The level holds, or we get a false break. This would mean a range between 100.5 & 102, until there is a break to either side.

b. It could break lower, in which case 100 level is important.

During Franky tomorrow, I'll look for a false break to the upside on EUR/USD, if I'm trading the scenario a. I'm biased to the downside on EURUSD. But if we break the range low on DXY, it would change.

PS. First chart is Daily, second is Weekly of DXY. Different brokers could have different weight for the index, but this one is the popular weighted DXY index.

Agree about the false break, but that only means a strong push down which could reverse.

It could also turn out to be a breakout that fails in the next quarter, a delayed fakeout.

Since our time horizon on intraday trades is an hour or maybe 4 hours being caught in a rejection that could push fast would be really bad. Best to start positioning for shorts EURUSD only after a major support level breaks.

Attached chart of DXY showing analysis.

Shorted 1.1130 stop 7 pips. Franky fake possible.

update: moved stop to 5 pips

update 2: BE set running 1/3 closed 2/3 for 10 pips target would be 1115-1109

Chart showing entry:.

Chart:..

BE gone on the 1/3..

I'm currently short at 354, fading the London high. Stops are above the range (I mean the range on lower TF at this London high).

I could not enter full size on the first, so I've taken 2 positions.

If I'm right, then it should drop back below the Franky high. Otherwise it would continue higher & my stops will be hit.

Update: I've cut my position, at a small loss, less than a pip. 5M was not looking good as I was expecting it to follow through lower.

But at the range low, it could not break the low of the last 5M, but broke its high. So, I made a decision to cut it, because that was not the reaction I was looking for.