EURUSD Trade on May 28, 2013 07:43 from omgwen3rds: Tradervue User Stock Trades.

28 May 2013

With our homies in the U.K. and U.S. celebrating bank holidays, euro price action was extremely limited. After an entire day of trading, EUR/USD finished unchanged at 1.2934, while EUR/JPY ended just 26 pips lower at 130.72.

The truth of the matter is, the euro didn't really have much of a reason to move yesterday. There was no breaking news, no economic reports from the euro zone -- no nothing! And judging by the economic calendar, we may get more of the same today because the euro zone won't be making any new releases once again.

However, y'all should keep in mind that U.K. and U.S. traders will be returning from a three-day weekend today. We could see higher volatility as the London and New York sessions open as traders re-establish their positions. Be careful out there, folks!

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EUR/USD

Sentiment mixed; further range trading likely
EUR-short positioning is not large, but USD-long positioning heavy
Implies risk of weak players who are long USD getting squeezed
Bulls need a convincing break above 1.30 to regain some power,bears aiming at 1.28
Bids at 1.2880, 1.2850 and large from 1.2820 to 1.2800
Sell stops building sub-1.2850 and large below 1.28
Offers at 1.2950 and in decent size from 1.2980 up to 1.30 (including sovereign names)
Buy stops building quite large above 1.30

Entry

Exit
At 10pm, consumer confidence report came and it was positive for USD causing a massive 100 pip stop cascade