Daily EUR/USD trades

I believe that the Yen should also be traded from the long side. This would be counter to the long USD/JPY that you have been mentioning. Just my opinion of course.

 

I will be buying the March euro fx contract on a stop at 1.32570

 

I have opened a new long position on JPY at 8700....

Good luck to everybody !

 

I had expected the 20 ma on the daily to hold but it didn't.

 

I would expect 118 and possible 119 in the very near future in USD/JPY, based on that divergence set-up. I think daily upper Bollinger is ~119 or just under. Going long JPY future is perhaps different to shorting USD/JPY, I just don't know. I did pop a question regarding TA relevance between cash pairs and single currency future, somebody did provide an answer earlier on. I suppose if one expects JPY to rise the question is against what other currencies? GBP? EUR? USD? I had a brief look and European currencies do not offer long opportunities (IMO) vs JPY on their daily charts, but USD/JPY does feature a BLD in histogram on a daily chart, which has already taken it from lows of ~114+ to 116.80 current. So I assume if you see strength in JPY on a weekly chart, one obstacle on the way that perhaps can result in just a pullback is the latter divergence in the USD/JPY pair.

 

If you pay attention to divergences, then you would have seen a BRD on a daily chart of GJY Z06. That makes a lot of sense now that I looked at this chart. You have a BLD in USD/JPY pair and a B/A-class BRD in GJY Z06 future. USD should continue its perhaps a temporary rise and Yen, according to daily, should be sold off a bit. I think your entry could have been better timed OP, watch out.

 

I must apologize, I thought for a moment this was the b1s2's currency futures journal.

My bad.

Yes you are correct, even though I don't see your numbers. FX and futures on the JPY trade opposite to each other. The number would have been your Nov-29 high.

I had no solid reason to open that trade and was stopped at a small loss. But it's not about the loss, it's about taking a trade which had no valid reason to be taken except for gambling purposes.

=)

 

I don't agree with the BRD on the Yen Futures chart. It may be reversal, but I am not convinced.

 

nice support on eur.usd around 1.3. you think about how many shorts are still trapped waiting for breakeven.... plenty of buying support around that level - good place to go long. i plan on starting to buy monday and will buy all the way into 1.3

 

long eur/usd at 1.316, stop at 1.3145, tp: 1.325

ciao