That has been the broken record repeating for the past 2 weeks. How many people started shorting way back then and went into recovery or stopped out?
Observation is the path to discovery.
The fundamentals are good for the US market. Barring a Euroscare, there is no reason for the US market to drop. They have the Fed as tailwind and a pretty good economy. The US market will attract foreign buyers which is dollar positive. What I think will happen is the USD will finally line up with the stock market instead of Risk off only as we have seen lately. When you think about it, why in the world would the euro go higher when the markets do? The European economy sucks. There is a strong likelihood of more LTRO´s to help the banking sector...
All very good points Al as usual. I really want to see updated versions of these charts, as you can see "tailwind" is putting it lightly, and the correlation is obviously what the 'smart money' has been following.
Last night I went poking around but wasn't able to find charts, I did find some info on the Fed's site here http://www.newyorkfed.org/markets/to..._schedule.html
but I am not sure I am interpreting it correctly. If anyone has a little time I think this is worth investigating and interpreting further. Evil Speculator...
Today we may have witnessed the final battle with the two trendlines. If that is the case, the next stop will be the famous head & shoulders neckline and after breaking that, a test of the bottom at 1.2640.
This Bull has been difficult to domesticate, so some healthy skepticism is warranted.
Great info and charts.
I don´t think we have to worry about QE3. Today´s PMI number settled that for sure. Especially with an election a few months away and Ben saying in his news conference that it would be reckless to do it. From now on EurUsd is going to have to walk on its own without any help from Uncle Ben.
Maxtrader wouldn't you stay extra alert trading the Euro$ as news develops that Sarkozy's likely to lose this weekend?...
what indicator do you have on the bottom of your chart? And how do you use it?
thanks nanningbob !
Did you sell Euro and at what price if ?
What other inicators are u looking for shorting the euro then ?
What if it breaks above 1.3300 ?
I will be posting my 10.2 test version update sometime today. It will have the indis and explanation in the packet. As you already know profit target was hit.
I expect it to break 1.33 and head down but big money is still trying to support the Euro despite fundamental bias to a bear market. If it breaks 1.33 I do expect it to go down but right now I see a ranging market until the next big news story.
Yes this ranging market is really tiring me. Evem if it seems that it will fall like a rock then retraces up again and is testing new highs or makinh new ones.
Everytime I shorted last week euro made new highs and then went down.
I dont know how to trade this. Last time I went short and price went 65 pips againt me, then the other day it dropped down below my entry for about 40 pips and then went up again. It seems everytime divergence occurs like this it dropps down. A lot of times even if it goes 30 pips against my entry, then it...
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