How to trade the EUR now

[Tsing Tao]

Quote from contra:

a lot of faith above those weekly highs... you took no profits at all?

No. Why would I? The trade was set in motion with a specific TP and SL. Second guessing it is pointless.

 

[contra]

Quote from Tsing Tao:

No. Why would I? The trade was set in motion with a specific TP and SL. Second guessing it is pointless.

I hear you but there is not much motion going on really.

Overall it looks bullish for a break higher.

 

[Tsing Tao]

Quote from contra:

I hear you but there is not much motion going on really.

Overall it looks bullish for a break higher.

On the contrary, the volatility has increased substantially. We'll see.

 

[contra]

Quote from Tsing Tao:

On the contrary, the volatility has increased substantially. We'll see.

how so? I am going by ATM implieds which just hit 8 month lows. 1-3months out it's still at 7 which is pretty low. We have to break the range.

YEN and AUD/USD seem the highest. Even USD/CHF which has a 2 point spread over EUR/USD ATM.

 

[elisab]

However, the end of August on EurUsd has generated a monthly shooting star candle and this prelude to new downwards on the Euro.

 

[elisab]

At the moment I would bet on the continuation of the trading range and go short EurUsd with stop 1.3450.

 

[FX_Gigi]

I think during the first two days of the upcoming week, the pair will likely keep the 100 pips range between 1.3240 and 1.3340

 

[ras72]

Today 2013 09 18 EURUSD burst from 1.3350 to over 1.3500

Was anybody in it?
Like many I was anticipating a short in area 1.34... And naturally it bursted through running the Stops of the shorties, one prodigious bar right through!

Ras72

 

[SimpleTrades]

Quote from ras72:

Today 2013 09 18 EURUSD burst from 1.3350 to over 1.3500

Was anybody in it?
Like many I was anticipating a short in area 1.34... And naturally it bursted through running the Stops of the shorties, one prodigious bar right through!

Ras72

Blah! A very expensive day for me today.

 

[contra]

3600 barriers and German elections Sunday. Merkel probably wins this one cause a slight rally into more TP's.

I chose to long EUR/AUD Thursday as Euro is rallying a bit on the crosses into the weekend (German elections) after the strong move USD majors on the FED. I took almost 50 pips on it but bailed too soon. I'll await these results see what's up.

Equities sold off hard so maybe look to the JPY pairs for a reversal? The previous trade was a long EUR/JPY trade into into the FED based more on PA.

Flat, waiting for a signals... CAD made a strong reversal.

More negatives equity wise is the Debt ceiling crap coming up. If that's not too bad, the market may expect FED taper sooner rather than later? So either way that's negative. Wildcard is Syria again which also seems if any effect... negative.