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+3000 pips in 15 minutes was crazy stuff on Friday. we're near a monthly support, major one. 1.040 and i think it may take an hold here.

 

I got some support at 1,065 from the monthly. But I think we are going south.

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JP Morgan cheif strategist Jan Loeys just released their quarterly outlook report, (counterparty circulation material, not for public)

Hes still maintaining their sights on 100 for USDX in Q2 2015

Highlights the fact usdx bullishness in 2014 was primarily weakness in the dollar basket economy fueling the dollar index's rise

This time, the approach to 100 will be fueled by sheer restriction in supply of dollar as reflected by interest rate hike

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I expect nothing too significant this week as there is not a lot of normal economic news. I shorted at the open and am currently sitting on a nice few pips. Currently looking at cashing it at around 1.077ish before a bounce. I will be looking for a price to sell upward movement.

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Hind sight is always great. Looking back only seven weeks ago when the EURUSD was trading about 600 pips lower, the chatter in the trade was when the euro was going to trade at parity. There was even one very large investment house projecting the euro would be trading in the low nineties versus the USD when we welcomed in 2016. How things have changed.

After nine months when the USD continually gained on the euro, the trend reversed as we have rallied close to the 1.14 handle. One expert claims if we trade to the top side of 1.14 we are headed for 1.20. Since this expert was bullish on the euro at 1.40 and remain so for months after the euro had topped I am wary following his trades, though sometimes it is helpful to remember those pundits who are usually wrong.

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Forex Forecast: GBP/USD outlook negative, EUR/USD to re-test Black Monday highs, USD/CAD to 1.55?

 

EUR/USD: 1.16-1.17 retest ahead

 

Woodcock maintains his bullish view for EUR/USD, expecting a retest of the ‘Black Monday’ highs around 1.16-1.17 area, noting that the pair sees a good support around 1.1220 levels.

 

See more at: Fx Forecast: GBP/USD outlook negative, EUR/USD to re-test Black Monday highs, USD/CAD to 1.55? | TipTV.co.uk

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Wednesday March 30

 

We study the losing trade of today session. (Each candle represents a M5 period).

 

We had a buying opportunity testing the 1.1346 support (previous daily resistance). We had formed a neutral pin bar closing just above support ( red line), I bought.

 

The session unfolded like this:

 

1. Price closing inside previous neutral pin bar range at 1.1347

2. Price retesting the upside of the Daily red support and resistance and closing below at

1.1343

3. Price continued going down showing some sign of buying at 1.1339 but closing bearish

and below the previous candle low.

4. I did not react to it and price hit the SL located below the ìn bar low at 1.13369

 

Entry is marked with the Green arrow and Exit is marked with the Red Arrow.

 

Hope is it helpful. God bless, a hug in Jesus and Mary!

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Thursday, March 31 2016 (EurUsd M5)

 

As today we had basically an all day up session. As the start of the session at 10:30 am NY time we see price trying to go to the upside and testing the 1.1402 level (H4 green resistance), after that price decides to go down back again an test the 1.1383 level as support (M5 yellow support) and formed a green bullish closing candle what showed some continuation and went up again to test the 1.1402 level (H4 green resistance). Price forms another bearish closing candle that took price down to the 1.1383 level again (M5 yellow support), then we see 5 sessions of consolidation and a big bearish candle, we enter in the next one after that marked with the red arrow which closed below the 1.1383 level, got stopped out just 3 candles after because we did not react to the bullish candle formed after the 3 bearish candles and that was bouncing just in the 1.1380 level (H4 Green Support).

 

That was the mistake of the day. God Bless

 

 

 

John 18:37 And so Pilate said to him, “You are a king, then?” Jesus answered, “You are saying that I am a king. For this I was born, and for this I came into the world: so that I may offer testimony to the truth. Everyone who is of the truth hears my voice.”

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EUR will yield this week gains against Dollar in next week. I would call next week a "Dollar rally" as the odds of rate hike reached almost 50% in December what is bullish signals. Going to bid on Dollar next week.

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