Forex Signals – EURUSD Frothy February

Recap: We made back a solid chunk of our pips yesterday on EU and AU. Our long was triggered on the 3517 resistance break yesterday and got within 2 fractional pips (0.00002) of hitting our 80 pip TP. We close manually a few hours later (we weren’t going to risk an entire position for 0.00002 pips!) but for only 53 pips instead of the full 80.

Technicals are very mixed at the moment, and with no good S/R to trade off of we will sit on the sidelines for EU until tomorrow’s setups come out.

We are keeping our UCHF long open for the time being as well.

Today’s Important News Events:

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Trading Idea: Flat for the day until a better swing opportunity emerges.


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  1. Profile photo of Johnny
    Johnny
    February 6, 2013 at 18:34 Reply

    Where have you been? Pete’s place? :-) Anyway, thanks Mark, I know now that trading either way is kinda ….. at the moment (You may fill that out yourself :-))
    Take care and enjoy your day, be seeing you at Draghi’s tea party.

  2. Profile photo of Johnny
    Johnny
    February 6, 2013 at 18:37 Reply

    Should move back up from here to 37 at least, bullish gartley and butterfly same time on smaller tf. Lets see?

  3. Profile photo of Johnny
    Johnny
    February 6, 2013 at 19:17 Reply

    If you take the H4 chart in front of you and then draw a line from the lower candle (around 3040…) draw a line all the way up to where about we are now…You will see that 3490/95 is the (up) trendline….Thats why that 3490/95 is an important level to me…if it will be suts. breached then we may dive down…! But if we can hold key level 3500 and stay above…its up to me! Hope you get me?
    I will turn short, but only if that line (diving below 3480 to make sure) breaks, as long as it holds its up and we will see +3600 come tomorrow. My view…(Which may be wrong!)

  4. angat
    February 6, 2013 at 19:21 Reply

    I doubt we will hit 1.37 again soon, I’m inclined to say we will get our correction back down to 1.32. If so your special short should do well :)

    • Profile photo of Johnny
      Johnny
      February 6, 2013 at 19:25 Reply

      To bad my special short is not heavy loaded then :-) But it may compensate once we get towards 1,32 though ? :-)
      Lets see? As said, if we will breach 3490/95 and get a break of 3480 then I may join you on the southbound…For now, I stick to my plan :-) GL

      • angat
        February 6, 2013 at 19:36 Reply

        Yeah I think by tomorrow morning we should get a push in one direction or another, gotta get up early!

  5. alex71
    February 6, 2013 at 19:57 Reply

    Just my opinion: This 1.37 peek looks so lonely; we should revisit it tomorrow and then we should dive down some 300 pips.

    • Dean
      February 7, 2013 at 00:30 Reply

      I agree with you,1.3650 first then 1.3350.

  6. angat
    February 6, 2013 at 20:14 Reply

    I think I’ll short for a quick 10 points, who’s with me? lol

    • angat
      February 6, 2013 at 21:12 Reply

      (P.S. trade at your own risk.)

      • angat
        February 6, 2013 at 21:52 Reply

        I would closed, don’t know which way the pennant is gona go :o

  7. Profile photo of Medo
    Medo
    February 6, 2013 at 22:39 Reply

    Waiting for the events tomorrow …
    I’m still in my short. And i put a Buy stop at 1.3565 in case of GOING UP

  8. pipsqueek
    February 7, 2013 at 05:14 Reply

    EURUSD remains in uptrend from 1.2998, the price action from 1.3711 is treated as consolidation of the uptrend. Another rise could be expected after consolidation, and a break above 1.3711 resistance could trigger another rise towards 1.4000. key support is at 1.3430, only break below this level could indicate that the uptrend from 1.2998 has completed at 1.3711 already, then deeper decline to 1.3300 area could be seen.

  9. pipsqueek
    February 7, 2013 at 05:15 Reply

    @johnny I guess I have to tickle that bully just right to get him moving:)

  10. Profile photo of Medo
    Medo
    February 7, 2013 at 08:29 Reply

    so what is the targets for going long guys ??

  11. pipsqueek
    February 7, 2013 at 10:42 Reply

    Choose your own target:) Mine is set for 136 at that point I will either add to my long or cash out:)

  12. pipsqueek
    February 7, 2013 at 10:45 Reply

    Goal is 137 If @Johnny‘s bully can get us there:)

  13. pipsqueek
    February 7, 2013 at 18:01 Reply

    Urghhhhh Damn that bully!

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