Eurusd in consolidation ?

[Morpheus]

Is this consolidation mode for forex ? Will it be like this the whole week? I haven't even made a trade this week yet.

[techno791]

Two inside bars, range is getting real tight. If it doesn't make a move tonight, Thrusday's going to be an even crazier small range.

[wolf825]

The range tightening tells me its gonna bust soon--but it could also whipsaw in both directions if there is no fundamental to support it..and such a whipsaw could be fast and then consolidate right back where we are now before Friday. I was expecting a more deliberate pullback in price ahead of Friday's NFP...but we shall see if it will dip further. I would like to enter a Long trade in the 1.3335 range ideally....

I'm expecting a move higher towards 1.34-1.35 area...but you need to set a wide stoploss and take a higher risk if you wanna ride this in long term.. Look at EUR/JPY and see how its moved up majorly since yesterday... I plucked over +100 pips holding a Long trade in that from yesterday morn.. Well EUR/USD will either do the same and move up, or EUR/JPY will fall back down.. I think EUR/USD will pullback to the 1.3335 area and then go higher..but if it should break the daily highs before the US market closes--go long....

FWIW--a hint--Spring loves the Euro...check out the history of the Euro for April-June....

[techno791]

Speaking of the Euro, the crash just made a nice pattern on the daily. Inside bar and doji looking thing yesterday after a two upbars.
Today is looking like it maybe a red down day. I'd guess that means tomorrow will be a lower euro/dollar day too, but my daily candle guesses aren't doing that well, even though this would be about TWO confirmations that it should go down imo. Which means go long.

Also:


Check out my big blue line. Drew this a while ago, rarely use this chart. False break or oppty to go long right here at 9736? For fun I'll guess short, with maximum drop to 9600. But I don't have the analysis or risk to do that.

I wrote down on the 22nd that GBP/CHF has a res at 2.39. I think this is an hourly or 15 minute one. I had a break of only 11pips, then after fighting 2 times, hit 2.4000. Lesson here? I really need to buy a whiteboard or something. That's the moral. Or you'll end up writing levels down and forget about them for weeks. Like my big blue line.

[techno791]

It went below my big blue bar. Fought it the other day, did bounce up. ANd broke under it today. Too bad it's friday and NFP, if it closed here, might've been a short. Now it's a nothing.

[techno791]

Originally Posted by techno791

Speaking of the Euro, the crash just made a nice pattern on the daily. Inside bar and doji looking thing yesterday after a two upbars.
Today is looking like it maybe a red down day. I'd guess that means tomorrow will be a lower euro/dollar day too, but my daily candle guesses aren't doing that well, even though this would be about TWO confirmations that it should go down imo. Which means go long.

Also:


Check out my big blue line. Drew this a while ago, rarely use this chart. False break or oppty to go long right here at 9736? For fun I'll guess short, with maximum drop to 9600. But I don't have the analysis or risk to do that.

I wrote down on the 22nd that GBP/CHF has a res at 2.39. I think this is an hourly or 15 minute one. I had a break of only 11pips, then after fighting 2 times, hit 2.4000. Lesson here? I really need to buy a whiteboard or something. That's the moral. Or you'll end up writing levels down and forget about them for weeks. Like my big blue line.

1.9591 it touched before reversing. I guess next time I'll do the trade.