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Originally Posted by idejan It played well till now, S/L up to 1.2340 (+31pips). Looks well on 1H chart.
Today is my son 5th birthday. I've put my T/P @ 1.2382 (if hited +73 pips if not then s/l is +31) which will do for his birthday present. 
This move up should find some resistance arround 1.2390/2400 but will most probably trade to 1.2430/2450 before a move down, which should be limited to 1.2380/2365/2350.
I'll check in a few hours.
Best to all,
ID
PS Crude made lower low first time today, could be showing some weakness... we'll see later |
First leg ended little below of what I was expecting (1.2375/85), so now my protective stop is very badly positioned exactly on .382 @ 1.2339 (
s/l@1.2340) also exactly on the 200 MA.
EUR now broke out of channel, broke 55 MA on 5 min and trading last 60 min below 55 MA. It is now hughing 100 MA.
It looks quite promising on the Hourly chart.
However, in my view EUR is still in consolidation, and will most have another move down, especialy with most crude most probably breaking below todays low tomorow (which however would be limited and part of a correction before a continuation up). I expect EUR to meet sugested above targets before moving down in tomorrows trading.
I expect Asian sesion to see EURUSD at above targets and to start the next consolidation down.
Below 1.2255/45 we will see deeper correction.
Best to all,
ID
While writing this post EUR made a stronger move up to 1.2367 but it stoped there. Could be setting for a move up. I'm moving my T/P (take profit) to 1.2410 and I hope my protectiv stop would not be taken mean while.
Still looks very promising on a 1H
See you tomorrow.