Euro Live FX Trades & Set Ups

[The Billy]

Euro Completes KnovaWave Parandus Spit At 1.4738

Euro continues to come off the 1.4800 zone, which is the extended 78.6% fib of 1.4920/1.4367. Pattern wise a flat topped triangle is developing with dip buying off KnovaWave Parandus setups.

Potential breakout buy beyond the 1.4800 flat top curling and gaining in probability. Euro suffering from EURJPY failure and looking towards EURCHF for any stab higher.

Knovamind LiveFX suggests continued Parandus plays within the corrective structure. Currently Euro positioning remains long off 1.4741 (at the 1.4739 Parandus) with a trailing stop at 1.4749 offer (Fulcrum Failure). Euro trades 1.4765/66. Trailing Stop to be raised on grid inclination to allow for possible Look Laine Pattern to surprise the herd.

 

[The Billy]

Euro Holds KnovaWave Parandus Spit Into Asia

Towards the end of a lacklustre day the Euro closed out around 1.4773. Knovamind LiveFX closed out 50% of the Parandus long off 1.4741 (at the 1.4739 Parandus) at 1.4775 at days end for a gain of 34 pips. Euro trades 1.4775/76. Trailing stop raised on grid inclination to allow for possible Look Laine Pattern to surprise the herd to 1.4753 offered.

We reiterate Euro continues to come off the 1.4800 zone, which is the extended 78.6% fib of 1.4920/1.4367. Pattern wise a flat topped triangle is developing with dip buying off KnovaWave Parandus setups. Potential breakout buy beyond the 1.4800 flat top curling and gaining in probability. Euro suffering from EURJPY failure and looking towards EURCHF for any stab higher.

Tomorrow's FOMC and US GDP dominate as market watches equities and sifts through rumours.

 

[The Billy]

Euro Breaks Triangle Following KnovaWave Parandus Spit

Knovamind LiveFx says "Euro finally fulfilled the initial target from Parandus long off 1.4741 to the flat top triangle break. After option barriers were triggered in the push above the figure with fund stops run to help fuel the rally to the intraday highs at 1.4817.

Overnight we raised our trailing stop on grid inclination to allow for possible Look Laine Pattern to surprise the herd to 1.4753 offered. This held (low 1.4755 trade - very close!) We raise this to 1.4793 offer as decent sellers were reported into the 1.4820"s but bids into the figure soon propped the pre-North American dip.

I am always wary of spits in the early US session and will revert to the KnovaWave Parandus rules should we be stopped prior to 1.1.4820 clean clear. Above 1.4828/32 and the 1.4850 fulcrum level stops above 58/62"

All eyes remain on the impending FOMC decision at 19:15 GMT, the majority of the market pricing in a 50bp cut to 3.0%. Futures recently suggested the odds for such a move stood at 80% while the chances for a moderate 25bp reduction in rates have fallen below 25%. Should a less aggressive 25bp cut be witnessed then many are of the belief that a less negative Employment report could be in the pipeline.

 

[The Billy]

Knovamind LiveFx says "Euro finally fulfilled the initial target from Parandus long off 1.4741 to the flat top triangle break. After option barriers were triggered in the push above the figure with fund stops run to help fuel the rally to the intraday highs at 1.4817.

Overnight we raised our trailing stop on grid inclination to allow for possible Look Laine Pattern to surprise the herd to 1.4753 offered. This held (low 1.4755 trade - very close!) We raise this to 1.4793 offer as decent sellers were reported into the 1.4820"s but bids into the figure soon propped the pre-North American dip.

I am always wary of spits in the early US session and will revert to the KnovaWave Parandus rules should we be stopped prior to 1.1.4820 clean clear. Above 1.4828/32 and the 1.4850 fulcrum level stops above 58/62"

All eyes remain on the impending FOMC decision at 19:15 GMT, the majority of the market pricing in a 50bp cut to 3.0%. Futures recently suggested the odds for such a move stood at 80% while the chances for a moderate 25bp reduction in rates have fallen below 25%. Should a less aggressive 25bp cut be witnessed then many are of the belief that a less negative Employment report could be in the pipeline.

Trailing Stop hit at 1.4792 after ADP - gain of 51 pips.

Will watch wave develop 1.4770 and 1.4755 key levels on downside if this is still Look Laine rather than Banga set.

Will look for after Fed other than quick scalps - expect just position squaring action until then.