CFA Trader - EUR/USD trades and predictions

[CFA Trader]

I will be on vacation this week, so I will post only sporadically. I am waiting for excess to form on EURUSD and then I want to enter short trades. I see 1,3000 as a good target.

 

[CFA Trader]

EURUSD - A bit of lazy day today. We trade inside Value Area of last week. I am considering short term long trade if price gets around 1,3220.

Today´s high is not strong and we might see test test above 1,3300 in coming days.

But generally we are in sideways market and I think it will not be until some major moving macro news event that we get a move from the Value Area of last 6 trading days.

Until then I will just try to "bite" few pips from each trade.

 

[CFA Trader]

EURUSD - I took a long trade after small pulback after German macro new at 12:00 in expectation of test of yesterday´s poor high.

 

[CFA Trader]

EURUSD - very quiet holiday trading so far today. I think everybody is waiting for employment figures from US.

I expect 2 likely scenarios:

1) spike test into 1,3400 resistance and eventually testing poor high at 1,3415 and retracement with eventual start of new downtrend

2) continuation of recent push higher targeting 1,3500 and eventually 1,3550.

I am more inclined to scenario number 1. But after what we have witnessed on GBP/USD yesterday I do not want to short EURUSD agresivelly just yet. I will wait for some confirmation of potential reversal and then try to short. I see good targets below for shot trade.

 

[CFA Trader]

EURUSD - I took a long trade yesterday morning and patiently waited for the test of important resistance around 1,3390-1,3400 which came after US markets opened.


For today I expect test of major reference high @ 1,3415. I am curious if sellers step in around there. No sign of big / agressive sellers in EURUSD yet.

It is also important to note that we are in growing market since Monday and I would expect some profit taking before weekend.

My longer term bias is to the short side. I am waiting for signs of sellers and then I will open short position.

 

[CFA Trader]

EURUSD - we have a boring, quiet market with very low volume in the past week. I am curious if today´s macro news bring more significant movement. We will have to wait and see.

My medium and long term bias is to the short side but before a significant move down I would like to see test of important reference high at 1,3415.

 

[CFA Trader]

EURUSD - I still stick to my call that we will test major reference high @ 1,3415. There are 2 poor highs supporting this idea since they are good candidates for test. When that test comes, it will bring price very close to the reference high.


For today I expect quiet, sideways trading. There is good support zone around 1,3300 where I am waiting for confirmation of buyers to join them in a long trade.

 

[CFA Trader]

EURUSD - I still stick to my call that we will test major reference high @ 1,3415. There are 2 poor highs supporting this idea since they are good candidates for test. When that test comes, it will bring price very close to the reference high.
View attachment 10762

For today I expect quiet, sideways trading. There is good support zone around 1,3300 where I am waiting for confirmation of buyers to join them in a long trade.

EURUSD - Price tested poor highs that I was writing about yesterday. I closed my long trade from last week in which I was playing for test of high from August 9.

 

[CFA Trader]

EURUSD - I still stick to my call that we will test major reference high @ 1,3415. There are 2 poor highs supporting this idea since they are good candidates for test. When that test comes, it will bring price very close to the reference high.
View attachment 10762

For today I expect quiet, sideways trading. There is good support zone around 1,3300 where I am waiting for confirmation of buyers to join them in a long trade.

EURUSD - Price tested poor highs that I was writing about yesterday. I closed my long trade from last week in which I was playing for test of high from August 9.


We also got a test of major reference high at 1,3415. All played out according to my expectations. Now I will wait for tomorrow´s FOMC to see market reaction and then I will decide what to do next.

 

[CFA Trader]

EURUSD - I expect sideways move in previous reference Valua Area until afternoon macro news. We will see if there will be some significant move in light of the macro news.

I am waiting around 1,3390 - 1,3400 to sell but want to see some confirmation of sellers. If we get a break below today´s low I would expect a test into 1,3300 - 1,3290 area.