Sell Eur/Usd

[Iris]

Hello Everyone...........

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.

ECB rate news this week... the Euro Commercials are Net Short at a 12+ month extreme...can EuroZone Fundamentals provide another break at 1.2000 after a 3rd rejection of 1.22???

We are in a Sell Zone at 1.2185<>1.2155 last Thursday with US Core Inflation on Friday at the High end of the FED's comfort Zone at 1.8% ...with a move thru 1.2082/80 underway Asian Session the Open...A South break at 1.2069/65 will Target a retest onto 1.2050<>1.2030 levels.

Euro South Low currently at 1.2032...pullbacks held so far within the 1.2072<>1.2067 levels...Euro heading for a retest South at 1.2050<>1.2030 were a break at 1.2015 Targets 1.1980 as Monthly momentum has begun a downturn leading upto the ECB rate decision.

Swiss North break at 1.3110 to start the Euro South retest/break at 1.2050<>1.2030.

Thanks to All for posting your specific Entry/Targets Analysis.

[Forex618]

Originally Posted by Noor

Hello Forex618...

Thank you... If the price goes to 1.19 area... Does that cancel your analysis??
Or you will still look for another challenge at 1.22??

Thanks again for posting your entry...

Amazingly the Curve held again - almost exactly at the time/price point where the curve reached today.

[Noor]

Originally Posted by Forex618

Amazingly the Curve held again - almost exactly at the time/price point where the curve reached today.

I see range trading till the Euro rate announcement...

They just need to see the Euro statement...
A break above 1.2145 will cancel my bearish scenario...

Trading range 1.2145<>1.2050

[UM_manager]

Hope this will help.

[Noor]

UM manager... Very excellent charts.

I love it...

[UM_manager]

Hi Noor

You can read about the technique here : http://www.moneytec.com/forums/showthread.php?t=18013

[Noor]

hello UM... Everyone

I thought it was drown by you as a way to express your idea... I never thought that it could be a software system!!
Interesting though...

Euro/Usd tested 1.2145... we should not break it ahead of the ECB statement...
We also might not see a rise in interest rates which happens alot the ECB the Market knows that very well...

A break at 1.2145 for now will open the door at an early stage to 1.24 area...
will cancel my analysis...

[BenjaminGraham]

Noor it's broken 1.2145...


is your analysis cancelled?