Looks like they’re going to make a run at the 1.29 barrier - all the ingredients are in place for it. Would be a shade over ATR for the day so a decent target. I’ll close out fully if we get there.
I didn’t wait for 1.29 and took my profit at 1.2916, also thought the ATR seem to be running out. I’m happy with 50pips!
I’m not so sure PB? Seems to me that 2912 will hold… might get a retest on Thursday’s London but I’m leaning towards EU bottoming out at this level and looking for a 4h test and possible breakout of 2974.
Took two longs on USOil this week as its PA is broadly in line with EU PA and liked the set up better… 50 odd yesterday and 36 tonight (96.48-96.84).
If I pay higher prices at the pump shortly I now know who to blame
Think we might see higher prices to come bobmaninc. :20:
Hi Gang
Just thought I’d throw my 2 cents in before I head out to work. Still not back trading yet, things still not going according to plan this end, but for what it’s worth here’s my thoughts.
I’ve had 1-2925 marked off on my daily chart for some time now as a strong support level. Seems price had a look below it the other day but popped back up. Daily falling trend line suggests to me we could go back up above 1-31 over the next few days.
Also, according to my extremely limited knowledge of volume, there seems to have been a stopping volume bar appear at the bottom of the last dip.
If I was trading, I’d be looking to go long today, maybe the next couple of days. Obviously if price gets below 1-2925 I’d need to re-think all of that.
Price as I write, just before LO, is around 1-2960. If it was a bit closer to 1-2925 I’d take the long, but at 35 pips away already, I’d leave it as that would be over my limit right from the get-go. Maybe around 1-2935 I’d happily take.
Sorry for being MIA recently, unavoidable I can assure you all. Take care
HoG
Currently long off 2936 Hog. :57:
Yep I think you might well be right. I closed out my short yesterday afternoon at 1.2934 after it rejected away from 1.29. Too much of a hurdle after all that effort at 1.2950 it seems. With equities & oil after falling to some decent support levels we could well get a bounce from here. Missed the entry earlier so waiting to see if we get some lower prices. Keeping an eye on equities too - they look to be rolling over into red again so think it might come. NY seems to be a better time for E/U longs lately.
Still think long is the way to go EU just now, but would be more inclined to wait until the morning before jumping in. Does the inverted hammer on the daily take us back up though with all the doom and gloom talk going on?
Daily
The Euro Pound also looks to be at an interesting place right now, sitting just above the 80 mark. Bounce up or break-through? Not my pair anyway but an interesting level.
I see the EUR/CHF has managed to span an entire 14 pips since I’ve been away. Gutted I missed that action, what a thrill ride that must’ve been watching it unfold.
To publically admit to missing that obvoius and gargantuan move! Bet your kicking yourself Hog. 
Caught the bounce, now it looks interesting… Asian (currently 2909)… hmm… my best guess is its testing the low stops. Back in long off 2910.
Nice entry… I think it will go up…at least for a correction, I personally will buy around 1.28 if it gets there
Now I am buying AUD and NZD on any dip…
LOL Yunny… its Asian… 2928 or perhaps 2944? But longer term it’s long on my take.
Missing such action may even warrant getting in a third party to kick me RC. LOL ! Similary to the Average Dailt Pip Range stuff I did with the EU (currently running at 152 pips ) I’ve recently did the Average Daily Pip Range for the Euro CHF. If you discount the day the central bank upped the floor the average range is roughly 1.3 pips !!
If ytou count that central bank intervention it’s 1.4 pips. MInd you, I’ve only went back two years, could be wrong.
You mock it now HoG but just 9 months ago EUR/CHF had a daily ATR of 390 pips! Back at the same time that was the weekly ATR for E/U. You can think of EUR/CHF as like an aging rocker. They might shuffle around the place now but back in the day they were craaaaaaazy.
That is such a cool post PB. So be it then, in future if I tell you guys I’ve went long Ozzy Osborne, you’ll know exactly what I’m talking about LOL !!
Looks like we pick up where we left off last week. Short E/U from 1.2892. EZ stocks getting a monkey hammering, bond yield spreads widening, etc. Just have to wait now to see if that’ll translate into E/U giving way more than a miserly 25 pips…
It seems that the EU is in t he consolidation phase ahead of any major news and that the Buying opportunity is also for long trade setups 
Agreed… I’ve been looking for the bottom on EU and GU. Long off both (EU) 2717 and (GU) 5912. Time will tell. :20:
I also tried to get a long in today - probably not my best idea given the week so far lol…
Im out the market and done for the week, i can’t really make sense of anything at the moment…