EUR/USD: Huge EUR Rampage

EUR/USD went on an absolute rampage today, peaking at +400 pips since our last trade yesterday. I honestly can't believe I missed such a huge move (I didn't have internet access all day); but in a sense it's good because I'm always tempted to sell when a pair gains +200 or more pips in a day. So this time I'm going opposite that tradition, and straight buying EUR/USD at its current price (1.3325). I'm being conservative (it is awful late at night) and shooting for a 50 pip gain (1.3375) and then exiting.

***Edit 10:33 PM EST***

Well score a quick 50 pips for me....less than 5 minutes after I initially posted this trade, the pair jumped all the way to 1.3377. Unbelievable! Huge buying pressure on this pair, be very careful trying to short it!!!

Huge EUR/USD Uptrend (And Ranging Pips!)

EUR/USD has been on a massive uptrend for the past couple of days. I recommended buying at 1.2810 and dumping it at 1.2850 to make a quick 40 pips....it appears we exited the trade a bit early as the initial upswing spiked all the way up to 1.2915. I knew the pair was due to hit 1.3000, so I should have trusted my gut instinct...I was just anxious to make back the 20-30 pips I lost on the previous trade and restore my good name :)

Looking at the charts, I'm seeing support around the 1.2885 level (pair currently trading at 1.2995). Looks like the pair has currently peaked, so shorting for a quick gain seems to be our best option. I would aim for the 1.2950 mark and then reassess the market. I don't like trading the wrong side of the overall trend, so make a quick 45 pips and exit the trade.

***Edit 12:15 PM EST***

Ok well our trade got stopped out about 30 minutes after the initial post for a 25 pip loss. Apparently the pair hasn't peaked yet. We'll trade the range to (hopefully) make back our lost pips. Currently the pair is trading at 1.3038, it should range between 1.3045 and 1.3010, so I'm selling until 1.3015 then I'll reverse and buy until 1.3045.

***Edit 1:16 PM EST***

Finally, everything worked out as planned! It was a wild ride, but we made up all of our lost pips, plus an extra 28 in the process! The market ranged exactly as I had hoped, we caught 23 pips selling from 1.3038 down to 1.3015, then 30 buying from 1.3015 to 1.3045. Currently the pair is trading at 1.3047, but I think I'm done trading for the day. Although it hasn't been as profitable as I'd hoped, I'm still 28 pips richer.

Price Action Pips: EUR/USD

We're kind of at a crossroads here with the EUR/USD; there are easy pips available no matter which way you look at it. The currency pair has been in an uptrend over the past week or so, and is currently (12:45 AM EST) trading at 1.2770. This gives us the opportunity to short the pair for a quick 30 pip gain, then reverse and follow the uptrend. I see support around the 1.2740 level, so aim to exit the trade around that price point, maybe even lower (1.2715) if you're feeling greedy.

***Edit 1:15 AM****
Well you bet against the long term trend, sometimes you get burned! EUR/USD spiked all the way to 1.2814 within a half hour of this post. Our new strategy is to buy at 1.2810 and hold until 1.2850. This will help us recoup some of our losses, putting us at +20 pips on the evening.

Easy EUR/USD Pips

EUR/USD has been ranging the past couple of days, although still leaving room for plenty of easy pips. I'm still feeling a bullish trend, however; the pair can't seem to break the 1.2700 mark. So let's use that to our advantage (but remember that at some point, the pair *will* break through that level!). For an easy 30 pips, buy at 1.2635 and sell at 1.2665. If the pair drops to 1.2610, reverse and sell down to 1.2585...we'll reassess the market tomorrow.