EU
EN: Long setup Looking to the zone shown to enter a buy position. I think ther eis still downside for the Euro, but we can then enter long and take advantage of support while a market is queit and we can enter after a spike to the downside taking out longs where we can then enter long. The entry for EUR/NZD will be posted on our page so stay tuned.
EU: Daily updateWe are remaining to watch the zone colored green for an entry long on this contract for EUR/USD. We're expecting a downside rejection but until price has reached the lower 1099's we'll be looking for an exact entry. As always stoploss, entry, and targets are provided live when we enter the trade on our end. Stay tuned to our telegram channel for updates. Keep in mind that it's thanksgiving.
EU: Weekly long setupEUR/USD Trade setup update: After a 20 pip move up yesterday, anda 20 pip move down today, it's tuff to remain patient with no price action. However, what I've seen is that thursday/Fridays are usually the busiest during the weeks for FX markets right now so don't give up this week just yet! Patience is key this week. I want to make sure it's obvious that when we don't publish trades there's a reason. We don't publish trades to force you to begin to trade when the markets opportunities are ready for execution, and not just trades that are placed simply because it's "tuesday". Not taking trades is just as an important as to knowing how to trade in the first place. Staying out of the market when it's not moving.
The Euro has tapped our zone where we're looking to buy, however we;re looking to buy at support and test the bottom of 1.099 where we will look at specific longs at this price.
EU: Downside weekly target (neutral setup)Watching 1.1 very closely today for either a rejection to the upside where we can take a long trade, or a break-and-sustain of the price shown in the chart. Being dynamic to either a long or a short entry on a contract for the Euro right now with this structure is key. There are confluences going in favor of both biases, with net short and net long positions right now currently split down the middle. This will be easy to watch for an entry. We use the client sentiment published by multiple brokers combined with options data for expirations this week to gauge reasonable downside targets. The downside target given represents over $1.5bn in options expiring tomorrow on the 27th of Nov at 10am est (Source: Bloomberg Terminal)
EU: Weekly long setup 1.1 on the weekly showed a well-defined rejection of the now-current weekly support level of 1.1. Down to the daily, an obvious morning star formation on the breakout of the zone we were watching all week for longs. This was an easy setup to take as the amount of demand at the price has been proven. Those who missed our suggested entry last week can use this chart to secure a long position this week.