Sell Eur/Usd

[Leib]

Here's the chart what I was talking about in the last post about the 'near miss'

[Noor]

Hello Lieb...

This is position Exit on the US dollar... I am waiting for Iris up-date to see how the Market is transelating the GDP data... will post my new charts/analysis there.
Friday's price action is important... The only clear Market positioning I can see till now is US dollar exits...

It is true what you said... Trend lines don't ussually hold on third attempts... But with current price action I believe the big money want to position current sell zone at 1.2170<>1.2150...

remember... A break above 1.2175 on friday trade is Huge! I can't see it supported by fundamentals at all!!
Unless if the GDP data is translated by the Market as the possible end of rate increase.

Lets all continue looking south till 1.2175 is taking out... then we will start questioning Forex618 .

The US dollar is still healthy...

[Whathell]

Well the triangle is certainly working well =)

[Iris]

Hello Leib my Friend....

Great Work you others are doing over in Wolf Waves...

A week ago the Euro Bulls were anticipating a Euro North break at 1.22 onto 1.2350<>1.2450...the Market delivered a 1.1952 South Low as the Commercials Large Specs built a Euro Short Position at/below 1.22 the Speculators were Buying a South Reversal.

FOMC week... the Euro Commercials are heavily NET Short the Euro at levels seen in late January 2006...The Euro is Positioning for a retest at 1.19 onto 1.1860<>1.1825 upcoming.

FOMC to 4.75%...May/June 5.00%<>100%...5.25% picking up steam.

USDollar Bulls are running...On hawkish FOMC statement.

Euro Sell Zone same as last week...1.2110<>1.2080.

South break at 1.20 in progress onto 1.1980<>1.1950.


Euro current Low the 1.2107 South Reversal...1.1979.

We pre-Positioned in Euro on a Sell Zone at 1.2110<>1.2080 leading into FOMC on Tuesday...Price had a South break as you know to 1.20<>1.2010 after FOMC giving us Break/Profit then into Asian Session on Wednesday a Low at 1.1979 was hit which was our final 1st Target Zone Exit as we are in multi-Positioning besides the Euro that is calibrated in tem where all Entry Z activate within each Zone...simultaneously...that coordinates a larger Time/Price mechanism thru multi-Positioning.

Yesterday had incredible cross currents in the Market with Crude Oil testing $67...Metals to Long term Highs...US GDP Core Inflation/lagging hitting 2.4% above the FED's 2.0% Target...UN/Iran dynamic...ECB's Trichet comments preparing for the ECB on 4/6...USDollar weakness rumours...the whole anchilada. Bottom line is Central Bank yield differential based on Economic data...the rest is smoke mirrors. Euro yesterday was tempting the Sell orders 1st at 1.2080 then 1.2110 then 1.2130 to 1.2150...we at IRIS FX waited with a Sell Zone currently activated in the 1.2185<>1.2155 levels Price hit the 3rd attempt at a North break at 1.22 no higher than 1.2175.

Bull Traps Bear squeezes trying to muddle the Market.

Euro Sell Zone is 1.2185<>1.2155 for us last Asian Session for a hold-over.

3 Euro 1.22 attempts...3 Euro 1.22 rejections the ECB is up next week.

2006 has been in the 1.18<>1.22 Range a breakout gets nearer with every attempt to break these levels if 1.22 holds we head for another attempt at 1.18...if 1.22 breaks for 1.24 Forex618 will have the Call.

Enjoy your Weekend my Friend.

[Noor]

Originally Posted by Noor

remember... A break above 1.2175 on friday trade is Huge! I can't see it supported by fundamentals at all!!
Unless if the GDP data is translated by the Market as the possible end of rate increase.

Lets all continue looking south till 1.2175 is taking out... then we will start questioning Forex618 .

The US dollar is still healthy...

Hello everyone

The results of the price action on friday trade will clear up at the open on monday... If 1.2100 Holds... Then Forex618 has to prepare him self for our questions ...

Another attempt of breaking 1.2175 will also be a sign for Forex618 victory...

A great weekend to everyone...

[Noor]

South is on in Euro/Usd...

Looking for the Price to break south at the open on Monday; otherwise my analysis will not be valid...

See charts...

[driven2trade]

Hello Noor

Interesting analysis. Can I ask what your main motivation is for your observation that EUR/USD will break south? Trendline resistance failing 3 times?

Also do you believe that should the p fall below 1.2100 downward movment it can be sustained up until April 6th (ECB rate decision)?

Thanks for your input!

Originally Posted by Noor

South is on in Euro/Usd...

Looking for the Price to break south at the open on Monday; otherwise my analysis will not be valid...

See charts...

[Noor]

Originally Posted by driven2trade

Hello Noor

Interesting analysis. Can I ask what your main motivation is for your observation that EUR/USD will break south? Trendline resistance failing 3 times?

Also do you believe that should the p fall below 1.2100 downward movment it can be sustained up until April 6th (ECB rate decision)?

Thanks for your input!

Hello driven2trade... Everyone...

I am giving the case scenario that will be confirmed at the open on Monday... If we don't break 1.2100 level... then I will exit look for clearer entries...

Look at the top two circles... I believe the Market has confirmed the end of US dollar position exits... Based on price action.
Same price action we had when the Market topped at 1.2320 weeks ago...
I don't trade based on what I draw... you will barely ever see basing my analysis on drawing trend lines/chart patterns or waves based on the technical analysis rules... I trade based on my trading experience through what I see thro Iris...

My perspective on Time/Price...