EURObull

EURObull

Today's long was good for 38 pips, plus the 20 from the short early in US session, good day for sure and now looking for short pullback up here. Still interested to see if they dump it to clear the lows and hit our 133.93 target. Lots of big news reporting overnight and early tomorrow morning.

EURObull

The right shoulder is now being "built" and is usually a bit lower than the left shoulder. Drew the parallel yellow lines as possible long targets and potential places to go short. Remember that the most recent EUR/JPY head and shoulders pattern was "broken" and a powerful long followed. This could also apply here as well. We will see how they continue to build...

EURObull

Long bias still in place. Near-term target is 135.40. We could possibly hit this target, then come crashing down to the 133.90 area (the long activity here may be to take out too many accumulated short stops). Larger picture long targets of: 136, 137, and ultimately 140.77.

EURObull

When we are hovering near lows and have not cracked down, with major news coming, it usually signals that too many traders are short. We exited our short positions with a nice 20 pip profit, and are now long from 134.52, looking for 135.40 as our initial target, as our long bias is still in place with larger picture targets of 136, 137, and ultimately...

EURObull

Posted details on our 240 chart. Short Target: 133.93, and could run as low as 133.63 area

EURObull

Noticed that CCI has extended itself and this run may have hit a ceiling for now. It would also make sense for EUR/JPY to do it's usual and clear long stops. This would also create a very elongated "W" pattern, where we will exit this short and look to get long. Short Target: 133.93 (100 pips from our current location)

EURObull

EUR/JPY has not sold off and the bullish divergence on our 240 chart is still holding up well. We exited our shorts for a quick profit and are long again, looking for: 135.33 Target 1

EURObull

As mentioned before, even though we retain an overall bullish stance for EUR/JPY, we said there's going to be a lot of shorts and longs on the way up. Here is one of the shorts. We have layered our shorts from the 134.56's to 134.71 (best fill for us here). Looking for short to: 133.93 We then have limit longs sitting around the 133.77 area for longs back up...

EURObull

Last night's sharp move down accomplished 3 things: 1.) shook off longs late to the party 2.) cleared protective long stops sitting under 5/13/2015 lows 3.) sucked in fresh shorts We are looking for EUR/JPY to get back up to 136, 137, and eventually 140.70. We are also expecting some slowing/chop as we get back to the 135 area.

EURObull

EUR/JPY just cleared long protective stops from the last 5 hours. Appearance of a trendline break most likely also suckered in fresh shorts. Watch for this to run up to the 136.18 area, that is 50 pips up from our current location. **5/20 update: this long call was only good for 20 pips, never made it to the 136.18, and monster 100+ pip short bar took all...

EURObull

There will be lots of longs and shorts as we continue upward, and this is our larger-term perspective of where EUR/JPY is headed. Near-term we expect a pullback before continued long action (could be shallow or deep). Next upside target is: 137.30 Big Picture Long Target (potential area for bearish reversal): 140.70 Let's have an awesome weekend!

EURObull

Epic last 2 weeks of trading EUR/JPY. Our broken head and shoulders worked very well. We closed all long positions this morning in the 136.49 area. We are still bullish and are looking for upward targets of 137.00 and 137.30, and for now we see potential chop/pullback/slow trading as we are entering Friday's close. Congratulations to all who followed our trades,...

EURObull

We have had a great run up. Outlook is still bullish, however, there may be a pullback/chop up here in the 136.49 area.

EURObull

Broken head and shoulders should surprise traders and pop to the upside, causing some impressive burst from short covering. We have long limits sitting all the way down to the 135.50 area, should a pullback/chop ensue from here in the 135.90 area. Target: 137.00

EURObull

Drew a fib on last move down from overnight. Exited at the 38%, 135.70 Expecting some consolidation/chop here between the 135 an 136. Epic day yesterday!

EURObull

Quite a bit of constructive criticism arose over our 5 wave long count (olive green). It worked very well, and the 136.40 long target we've been calling out since last week was hit to the pip. We're long again from the 135.90's, targeting 137.00. It could get choppy as we are sitting between the 135 an 136, and then again, we could see a large round of short...

EURObull

Grabbed another 50+ pips on overnight pullback. Yesterday was our best trading day yet, about 300 pips total. This pullback here may be ending soon and longs should resume Target 1: 136.40 Target 2: 137.00 Target 3: 137.30

EURObull

EUR/JPY may retrace a bit here. Could also blast off long and strong. Decided to bank +75 pips on our most recent limit longs. Still seeking 136.40 as long target, awaiting potential pullback before continuation.