Eur/USD

[Buy1Sell2]

Quote from Buy1Sell2:

Quadruple MACD bearish divergence on Globex euro FX hourly charts??

Bingo

 

[ForexPro]

As there is no news flow on this pair tomorrow. I'd of thought it will be contained in the 1.2285 to 1.2395 range. Therefore, a long close to or under 1.2300 has a good risk/reward chance with a stop at 1.227. Target 1.2375

 

[downrivertrader]

Here is some info on possible options expiry for tommorrow. Take it for what it is worth.


Boston, April 20.
EUR/USD is hunkered down in ranges with few catalysts in sight to send prices
outside the 1.2285/1.2395 range in place over the last 24 hours. Bernanke"s
speech on community economic development late this afternoon is unlikely to
touch on anything with any implications for monetary policy. The calendar is
empty tomorrow except for some European data like Eurozone trade data, French
consumer spending and Italian retail sales. None are likely to be big market
movers. A bit of caution is expected ahead of the weekend G7 meeting, but
currencies are unlikely to be a prime subject given the relative stability of
the USD in recent months. Perhaps the usual appeal for Asian currency
flexibility will be repeated.
Of note on the options expiry front tomorrow is the expiry of a 1.2400 exotic
with a multi-million USD payout. Should EUR/USD garner any upside momentum
overnight, expect a concerted effort to trip the barriers. EUR/USD trades
quietly at 1.2318.

 

[Prevail]

I'm short the 124.5, 125 and 126.5 may calls. where do you find out your options info? exotics can be set to expire on any chosen date can't they?

 

[downrivertrader]

http://www.ifrmarkets.com/protected/ifr_main.html

I only know enough about options to be dangerous. I just try to be aware of expiries around the NY cut if possible.

DRT

 

[Prevail]

thanks, you are right though, a large enough position and the deep pockets will defend it.

 

[cruiser13]

Momentum on the hourly is now aligning with the daily. On both the EUR and JPY.

Long EUR/USD @ .2335. With target to sell .2390-.24 if momentum weakens.

Short USD/JPY @ 117.95 With target to cover @ 117.35 if momentum weakens.

 

[ForexPro]

I hope you all took my advice and bought sub 1.23 overnight, for the 1.2350's?

i think the Euro is unable to hold its gains following the positive news from Riksbank and russian finmin Kudrin. I think the Euro looks overloaded to the upside, so I therefore think selling rallies in the mid to high 1.23's is the best bet for sub 1.23.
Keep 1.2415 as a stop.

 

[cruiser13]

Quote from YeahIknow:

I hope you all took my advice and bought sub 1.23 overnight, for the 1.2350's?

i think the Euro is unable to hold its gains following the positive news from Riksbank and russian finmin Kudrin. I think the Euro looks overloaded to the upside, so I therefore think selling rallies in the mid to high 1.23's is the best bet for sub 1.23.
Keep 1.2415 as a stop.

Yes, I agree. This is a risky trade. Hopefully we can catch the last thrust up on the EUR. Stops are place just below .2300 and 117.15 for the JPY which is the topside of the daily trend line.

 

[cruiser13]

Quote from cruiser13:

Momentum on the hourly is now aligning with the daily. On both the EUR and JPY.

Long EUR/USD @ .2335. With target to sell .2390-.24 if momentum weakens.

Short USD/JPY @ 116.95 With target to cover @ 116.35 if momentum weakens.

Closing out for the week.
EUR/USD - Long @ .2334 - Close @ .2340

USD/JPY - Short @ 116.95 - Close @ 116.59

Have a good weekend.