Hi CFA Trader,
can you maybe upload your reports in a different way? The graph is good I guess however it is impossible to read any kind of information from it because it has such small numbers and letters.
Thanks,
ForExchange
I think EUR/USD soon will test 1.4
Most likely today or tomorrow …
The EURUSD is getting closer to the 1.3900 level and most probably there will be a bounce to the upside from that zone.
Hi fxstrategist,
I also think there will be a bounce but the the downside. I expect Draghi to announce bearish news today. Why do you expect bullish breakout?
It’s likely that EUR/USD will test 1.4000 level today. According to my analysis there is strong resistance between 1.3975-1.4000.
Hello, this forum environment does not allow me to enter picture in different format. You can see pictures in full format on my web or Facebook.
EURUSD - We got the test of yearly high about which I was writing about for last few days. I was able to take a long trade yesterday morning, but got rid of it before ECB rate decision.
After Draghi´s comment about FX rates there was strong sell action on very high volume. This was the strongest sign of sellers I have seen since 27.12.2013. I was able to open short trade from 1,3872 and took 14 pips of profit.
I have short bias and wait for short signals in 2 solid resistences from the attached picture.
EURUSD - On Friday the selloff continued. I did not expect it that strong. I tried to take a long trade 1,3788 but ended with a loss.
For today I expect calming after 2 day selloff and sideways rotation. I took a long trade this morning with which I target into resistence zones from attached picture.
If I get a signal for short trade in the resistence I will trade to the short side.
HI CFA Trader,
I do not know what you made to your picture but now it is a better quality. I guess you might just attached a smaller part with a more zoom.
I like your resistance around 1.3780 and I think it is more reliable.
About the other resistance around 1.3810, hmmm I do not know how you got it. Is it a Fib level or why did you mark it as a resistance? I do not see the reason.
Have a nice week and good luck
There is Value Area High (VAH) from Friday around 1,3810.
EURUSD - Market indeed calmed down yesterday in line with my expectations. 3 TPO ledge has formed at yesterday´s high and I was expecting a test above so I held on my long position. That test did not come.
I have closed the position a while ago. We have important macro news coming out at 11:00 and I do not want to hold position into the news and the market shows no strength to upside.
The ledge is still good candidate for test. It could come with the news release, but I do not want to gamble on the news.
I will wait in resistences for short opportunities.
EURUSD - Yesterday´s macro news release caused dowside move. But the decisive break came just after 12:00. I suspect it were the longs who accumulated positions during Monday and dumped their inventory.
After the break I was expecting a move to 1,3700 area, which happened. I took some long trades there and got profit this morning. I also took some longs this morning and got small profit.
For today I see 1,3700 area as important. It must hold and I will stay more bullish in short term and wait for new opportunities to enter into long trade.
¿Are the bears ready to take some profits off the table on the EURUSD? The 1.3700 level has proven to be a great support for the pair. A single excuse for a weaker USD or stonger EUR and the pair can make a U-turn north.
Hi fxstrategist,
well, the pair just broke under the 1.3700 
We will see where it stops. CFA writes his analysis soon and we will see what his sentiment is. I am wondering if the pair gets to 1.3500 or not.
Have luck
EURUSD - Yesterday´s US session was dead. No trading opportunities.
Today when markets opened in London there was selling off the gate and price stopped in key support. This area must hold. If not I would expect move to 1,3640 and 1,3600.
So far I do not see any confirmation of buyers. If I get a signal I would like to take long trade(s) since there are attractive targets.
Area around 3670-3660 is critical. If we break below I would expect move to 3640 and 3600. Selloff into 3500 from 4000 is low probability for me.
EURUSD - We had a nice buying initiative during yesterday´s US session and price tested first target I showed yesterday. There was nice Pin bar on 2h and 4h chart which was good for entry. I took some long trades and took part in the upside move.
Now price seems to have a problem to break through 1,3730 again. I am waiting for test into area of yesterday´s buying initiative and I want to see buyers react there again. If I get confirmation of buyers I will attempt long trade(s) again.
As I see you always only plan to make long trades? Is there a reason? Are you specialized on that or do you have a reason to be scrared of making short trades as well? As I see you only make short trades so carry trade is not an issue for you.
Could there be a change in direction to the upside on the EURUSD from the 1.3700? The pair has stayed in a range between the 1.3700 as support and the 1.4000 as resistance. Lets see if it breaks out of that range.
Hi fxstrategist,
If it breaks I think it can only to the down side. I do not see any reason why it should go up to 1.4000 again. The pair is more on the bearish side.
What do you think?
Have a nice weekend