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Euro At The Gate
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Euro At The Gate

by The MoleDecember 21, 2017

Christmas is only days away and I’m sure you have more urgent things to attend than to stare at charts or talk about them. But for the die-hards amongst you and the 5 Billion non-Christians frequenting this blog I thought I’d throw up a few forex charts, some of which appear to be ripe for the plucking today or tomorrow.

The EUR/USD has been gyrating around its current short term median and we are approaching the point where it either breaks out to the upside or makes another trip toward the bottom of the range. However, pre- and post-Christmas periods are usually rife with low liquidity squeezes and the one scenario I believe has the lowest odds is that it just keeps plugging sideways, especially given how tightly that daily Bollinger has been pinched at this point.

There are two ways to play this, wait for a another push higher which fails to breach the current wall at 1.19 and take out a short position if things start drooping lower. Stop > 1.19 and Bob’s your uncle.

Or be long after a spike low near that 25-hour SMA with a stop below 1.1830. I personally am sticking with the overall trend for now as the bears seem have had their canines removed surgically. But I definitely need to see some kind of floor pattern first, so let’s watch the situation.

The only other chart I find worth watching today are the soybean meal futures (ZM). As you can tell once she gets going she usually trends hard and if you are able to time those gyrations it can be very profitable. Low liquidity on this one however and getting a good fill sometimes takes a bit of patience/stubbornness. Anyway, it approaching the ole’ 100-day and looks like she may at least be faking to paint a floor pattern. Possible entry opportunity but not just yet as things are still a bit too premature. It’s a chart I plan on revisiting on my end however during the holidays and so should you.

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • http://evilspeculator.com Sir Mole III

    BTW, how do you like that live crypto feed in the top right sidebar? ๐Ÿ™‚

  • Skidmarkalot

    Sweet!!!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Nice.
    didn’t I recommend it? ..back during the unibrow baby?
    ๐Ÿ˜‰

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    whoa! selectable drop down time-frame
    IMPRESSIVE.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    sweet, one less thing to look for while scouring the digital landscape

  • ridingwaves

    NETE has had a crazy 2 days….

  • Mark Shinnick
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    look at 5 year daily.
    reminds me of DRYS.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    they are not making any cash, 2.5 million float after two 1×10 splits in last 2 years.
    blackrock and vanguard are probably selling out here, they were in it…

    just a pump-dump for the big boys

  • Yoda

    Yesterday I watch this youtube video about cryptocurrencies. It was very enlightening for a n00b like me as I know jackshit about them. What I got from this is that the blockchain technology is destined to fail over the long run due to the long time required to certify transactions and the huge amount of power that would be required for the computers running the blockchain platform if bitcoin (an others) were to become a mainstream currency.
    Definitively an eye-opener for me:
    https://www.youtube.com/watch?v=SF362xxcfdk&feature=youtu.be
    Now, I wish I could short bitcoin

  • Julie

    Thanks Chief. I am like Warren Buffett i.e. Do not invest in anything I do not understand. I am staying away from the cryptos. Again Nice.
    JULIE

  • ridingwaves

    the big boys will short to kill, they will not buy in up here to hold…that is at a much lower PPBTC…

  • Julie

    GE A retest of the mid November low (selling climax) Yeah Get some legs ….. Go GE !
    JULIE

  • Mark Shinnick

    Presently wildly inefficient for street level use but the middlemen are making the killing while the suckers foot the bill for being stylish.

  • ridingwaves

    Breaking News-Sessions orders new look at Uranium One deal

    May I suggest if you know anything about this deal, go into hiding now before the Clinton hit men find you….

  • BobbyLow

    Righties rejoice! It’s also another distraction from Russia. LMAO

  • ridingwaves

    lots of those Russian distractions lately in the US, first Clinton-Obama then Trump Pence….
    fact- I’m surrounded by them as they flock to the Richmond district here in the City….only if they knew how to smile, I do see some long legged ladies though….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    i’M SHOCKED. BLOOD runs cold.

    https://www.youtube.com/watch?v=EtpCosu-FH4

  • evilasevildoes

    merry Christmas everyone or happy holidaze

  • BobbyLow

    That used to be one of my favorite cartoons and still is. LOL

  • BobbyLow

    I got to know a couple of Russians in Grad School. That was a good experience for me.

  • BobbyLow

    You too Evilasevildoes. ๐Ÿ™‚

  • Julie

    BL Rocky and Bullwinkle Great cartoon as you say !
    JULIE

  • Julie

    Merry Christmas Evilasevildoes
    JULIE

  • BobbyLow

    Absolutely! Peabody and Sherman too. ๐Ÿ™‚

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    so what’s up with CVX??

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    weekly Breakout? I just LOVE rsi 70’s.
    http://stockcharts.com/h-sc/ui?s=CVX&p=W&yr=5&mn=0&dy=0&id=p27628800723
    ๐Ÿ™‚

  • Julie

    BL GLD is up into very tough resistance. Looking for a pullback (50%) to approx. 118.88. First clue a bearish close below it’s daily 5 ema approx. 119.82. The recent COT report GOLD the commercials net short position dramatically reduced. http://www.cotpricecharts.com
    JULIE

  • ridingwaves

    More news- Fannie, Freddie to each keep $3 billion capital reserve…
    2012 they were supposed to have Zero per congressional law…..
    this is going to end badly…..has anyone else here figured out how much I hate Mel Watt, thieving con man scum he is….

  • Julie

    GLD Daily chart Up into Ichi Cloud baseline (21) ; 50% retracement ; strong price resistance.and overbought Full Stochs 5,3,3 Looking for a pullback 50% retracement matching Ichi Cloud conversion line (8) approx. 118.88 Also chart $ONE:$GVZ upper Bollinger band https://uploads.disquscdn.com/images/6b4b6cf60445734e7852c9c308133de94c18464411038c01e2933faf80f43fe9.png https://uploads.disquscdn.com/images/ff92612b36d9598e538deb961312288ba82542459e91a52a30e59e9244ea40cd.png JULIE

  • Julie

    GG A nice pop in XOM too
    JULIE

  • ridingwaves

    and they are out feasting today….they broke it thru all those tails that Kim chart posted last night around 15.7 area

  • Julie

    GOLD The recent COT reports (www.cotpricecharts.com) https://uploads.disquscdn.com/images/96b1c03fd7e369dcae630711e25fcd0a7f0b6d3004b500e59805eea160b5682e.png the commercials have reduced their net short position JULIE

  • Julie

    F showing relative weakness today
    JULIE

  • Ronebadger

    Trivia
    What is stamped on the bottom of Bullwinkle’s foot?
    What college shirt did Bullwinkle wear?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    looks like the Spring Break, Energy gone wild edition.
    [XLE]
    http://stockcharts.com/h-sc/ui?s=XLE&p=D&yr=1&mn=0&dy=0&id=p25258243359

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    *********************************
    Happy Winter Solstice rats!!!!
    *********************************

    https://days.to/december-solstice/2017

  • BobbyLow

    Wossamotta U on the shirt but you got me on what’s on his foot.

  • Mark Shinnick

    That whole story…why the govt can be trusted in a nutshell.

  • BobbyLow

    I’m keeping my eye on Gold as well as Oil Julie but I made a promise to myself to stay out of the markets until after Jan 1st. Being a market junkie, this is difficult for me to do but past history has shown me that there’s better than a 50% chance that prices on both gold and oil will be choppy and on a road to nowhere until after the holidays. (now watch one or both of these rocket in one direction or another this year). But regardless of what happens I’ll be in on one direction or the other sometime after Jan 1st.

  • Julie

    GDX now outperforming GOLD and breaking above a relative resistance JULIE https://uploads.disquscdn.com/images/3fdbd46641371716afc25ea966211f692690adf5fdcc7081b2de9d7034af3fbb.png

  • ridingwaves

    possible scalp trade available on AVXL today-bullish trend perhaps. News driven, plus sector rotation finally taking place. Biogen Alzheimer’s drug didn’t hit key data per news this morning. This is now cheap for Biogen to buy out. What ever company discovers something that works for ALZ, shareholders will print money. The problem is not much has. AVXL has some promising data, in phase 3.. Large block buys already, resistance in 3.90 area…

    all spec. dd required. I’m playing it as scalp because it will fly with follow up news. L 3.50 S LOD…
    bonus-they have best balance sheet since inception…no dilution to move thru 2018..not saying they won’t dilute if share were to skyrocket…

  • Julie

    Yes GG The 1st day of winter.GG Merry Christmas to you and your family. Thanks for everything you do GG
    JULIE

  • Julie

    Yes BL As GG says you can always reenter. I have two very small positions. Short F and long GE
    JULIE

  • Ronebadger

    AMEN…days start getting longer tomorrow…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    There is no I in Team.
    Ho Ho Ho

    https://i.ytimg.com/vi/kOThc7hSLL0/hqdefault.jpg

  • Julie

    RW INFI Basing on lower gap window ? Bullish falling wedge pattern developing JULIE https://uploads.disquscdn.com/images/2e3d05d25b68d099a51d810455f23db53c744b1f3e9ca430138d6e40d7bb757a.png

  • Julie

    GG INTC I knew it A False breakout
    JULIE

  • Mark Shinnick

    Maybe.

  • ridingwaves

    sector is damn close to some kind of move..I have put on a lot of trades…fingers crossed…

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    well DUH. weekly & monthly lines are to be respected.
    ๐Ÿ˜‰

    https://www.youtube.com/watch?v=8UYcjDlSdnw

  • ridingwaves

    my christmas assignment is looking into energy related companies-especially with no crazy debt sheet….as they did well in tax bill….thus the analyst upgrades coming in….

  • Mark Shinnick

    Resources still seems to be sucking the energy….but yeah the timing seems close.

  • http://evilspeculator.com Sir Mole III

    Probably the funniest tattoo I’ve ever seen.

  • http://evilspeculator.com Sir Mole III

    Group shot at the lair.

  • BobbyLow

    Hey RW, How about the big banks? It looks like the tax bill will be great for their bottom line. The bill might be already priced in but maybe not.

  • http://evilspeculator.com Sir Mole III

    Indeed – I’m desperate for sunshine and I’m living in f…ing Spain! Looking forward to the sun setting at 11:00pm again in June ๐Ÿ™‚

  • http://evilspeculator.com Sir Mole III
  • BobbyLow

    Wow, I never realized daylight and twilight were that long in Spain. I think it begins to get dark in the northeast around 4:30 PM this time of the year. That’s one of the reasons I don’t live there anymore. ๐Ÿ™‚

  • Mark Shinnick

    BC breaks slope.

  • Mark Shinnick

    GORO setup…time for something today?

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    GDX 38.2% retracement and today a bounce off it’s 55 ema approx. 22.42.Perhaps tomorrow a drop below 22.42 and a pullback to 22.04 or 21.92. Just saying and something to be aware of JULIE https://uploads.disquscdn.com/images/80cacd85663ac8ef386205211d0b544cbf93849d1ae0551683bfd7b784d29573.png

  • Julie

    GG I can’t believe the intraday reversal GE… Bears slam it
    JULIE

  • Mark Shinnick

    Bear market in GE. Great companies sold out to debt. If it results in ruin.. Its employees should round up the execs and administer Western justice.

  • Mark Shinnick

    HEADS up with drv, keep an eye on this. Vanguard RE fund some outside type reversals. Dropped out of a Fidelity rising wedge.

  • ridingwaves

    XLF has been good since last year…the green bar on election outcome was telling…

  • Julie

    Hang Em High Mark
    JULIE

  • Mark Shinnick

    Arrived at and moving some at expected launch inflection.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    believe it. It’s hauntingly familiar to the death of GM shares.

  • ridingwaves

    damn volume just stopped….stops in place, finished vacuuming 3 flights of stares, cleaned kitchen, changed faucet and off to airport to pick up mom…

    Merry Christmas and here’s hoping good trading-investing to all in 2018

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    if momentum continues, Superman just may breakout higher.

    https://www.youtube.com/watch?v=elkbGy0XD6o

  • Julie

    Mark Going to watch DRV 11.29 – 11.45 – 11.61 Thanks
    JULIE

  • Julie
  • Mark Shinnick

    Interesting chartwork. I bot a SL of lottery calls some weeks ago.

  • Yoda

    I see 2 are high already ๐Ÿ˜‰

  • http://evilspeculator.com Sir Mole III

    Hows’ my crew?

  • mSquare

    Where are the activists when you need them?

  • Julie

    Great Chief Neato on the live feed bitcoin Thanks
    JULIE

  • Ronebadger

    My boss just showed up with lunch … @ 4PM NY time

  • Julie

    Merry Christmas RW
    JULIE

  • Mark Shinnick
  • http://evilspeculator.com Sir Mole III