thoughts from john on the EA

no buy, hold, sell recommendation

Fundamentals: There is a lot of news coming out tomorrow morning on the Euro, GBP and the USD, so be aware that the market may be very choppy afterwards. Added to that, in the afternoon, there is a Geithner -gusher at 3pm. Friday AND Sunday may be choppy, but not necessarily in a good way. So keep your eye on the news closely before just letting the ea go for a run.

AUD/USD: This pair continues in it upward trend heading for the 200 moving average on the day chart, and is bouncing between the 89 ma and the 200 ma. It looks like the price could be creating a channel on the day. The 4 hr is also bouncing between the 89 and the 200, but in this instance, the 200 is below the price and the 89 above. Unless major news pushes this pair, I would look for the aud/usd to continue to oscillate between .6950 and .7300
Euro/Aud The price is oscillating between the 50 and the 61.8 Fib line on the day chart. Since March 19th the pair was on an aggressive run short and finally stopped at the 61.8 fib and has been oscillating. Look for this pair to hold at this level for a while. The pair has been known to oscillate for a long period of time.
Euro/CHF Price is holding on the 38.2% fib line. Price has oscillated in a very tight range so be careful and look for it to possibly move back up to the 50% fib at 1.5330. This pair has a tendency to run in a consolidated mode for a while and then go into a 400+ pip tend to correct itself. The 13, 50, 89 and 200 ma are consolidating very tightly on the 4 hr chart which may mean a move is afoot soon… the ma’s don’t like to be squeezed together.
Eur/USD Price seems to have held at the 23.6% fib on the day chart. The pair seems oversold on the day and the price is reaching the 89 and the 200 ma on the 4 hr chart. It may rest there until news moves the pair.
GBP/CHF The pair is clearly consolidating between the 38.2 and the 23.6 fib on the day chart. The 4 hr is consolidating on the 13 and the 89 ma’s which this pair seems to like to do before it makes a trend move. I would look for this pair to continue to consolidate.
GBP/USD The price is in a channel on the 4 hr chart and has bounced off support. The pair is currently at the 89 ma on the 4 hr which, during this channel, has provided both support and resistance. I would look for the gbp/usd to hold on this 89 for a little while.
USD/CAD Price is in a downward channel on the 4 hr and I do not see any support of the ma’s at the moment to consolidate the pair, until it hits the 38.2 fib on the day chart at about 1.2000. Tread carefully.
USD/CHF The pair has hit and stopped abruptly on the 89 ma and 200 ma’s on the 4 hr chart. I would expect it to consolidate, with oscillations between 1.1400 and 1.1550 unless news creates a direction. Price is above the 38.2% on the fib lines, which is at 1.1400.
FAQ of the day:


Q. The EA just Entered a number of trades, ALL at the same time, and all with the same [al] and [tp]. Why?

A. This pair was possibly in Suspend mode, due to a volatile movement in the Price. When it came out of Suspend, it entered the quantity of trades that would have occurred had it not been in Suspend mode.


John_eafxtrader