Comments on: EUR/USD closes gap as Cyprus deal hits headlines

By: Brijesh

Brijesh — Mon, 25 Mar 2013 05:16:14 +0000

Very happy that gap is closed now. It was making me nervous. Now what is making me nervous is that we took support at 50% retr, 55WeekMA and a 78%ret. Who says trading is easy!!? lol

By: Sean Lee

Sean Lee — Mon, 25 Mar 2013 04:58:55 +0000

There are topside stops in both EURUSD and EUR/JPY which might well be targeted in early Europe but I’m staying fairly small and will add on silly rallies

By: Banya

Banya — Mon, 25 Mar 2013 04:55:27 +0000

Would rather wait for Europe to see what they make of this ‘deal’.You are a brave man going short now.Gd luck,Sean.

By: jack1

jack1 — Mon, 25 Mar 2013 03:47:37 +0000

Hi, sean, last week, bad news abt Cyprus. Euro bounced off 200day and 50%fibo. BNP Paribas team may buy euro again, they lift euro from last year low. Before or after the East, correction or new trend often unfold. don’t know which pair? which direction up or down?
I am off. Happy the East to all you !

By: Sean Lee

Sean Lee — Mon, 25 Mar 2013 02:36:19 +0000

Hi Tom, don’t know why but maybe some deep-seated psychological thing in all us traders. It’s almost always been this way, the mkt has a deep mistrust of anythg that happens in early Monday morning trade so we try and close that gap before starting again.

By: Tom

Tom — Mon, 25 Mar 2013 01:15:50 +0000

Good morning Sean. Please, Why gaps tend to close even despite other technical or fundamental factors? Is just a kind of magical thing? Or there is an explanation?

By: Danny

Danny — Mon, 25 Mar 2013 00:07:18 +0000

morning Sean,
There is something about that 55DMA. Unfortunately, i was greedy last week and let mu short position open, eventually got grilled. Agree with shorting EUR/JPY but maybe at 124.30 level.

By: Sean Lee

Sean Lee — Mon, 25 Mar 2013 00:01:09 +0000

Agree totally Tony, still can’t think of one good reason to be long. We are currently seeing short covering and there may be more stops through 13060/70? But I’m still happy to sell rallies

By: Tony

Tony — Sun, 24 Mar 2013 23:57:58 +0000

Hi Sean,
Am short the touch of the 200 sma on H1. I don’t see a ‘deal in principle’ as neccesarily being good news for the euro.