General EUR strength observed across the board as risk appetite retuens to the market; EUR/USD now trades back above 1.2600, trades 1.2608 last (+26 pips)
Joined Jun 2011
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You've seen the bottom for the Eur for a very long time to come. Look at the weekly chart, 5 waves down is complete. Not even the worse possible news can turn the euro back now.
You've seen the bottom for the Eur for a very long time to come. Look at the weekly chart, 5 waves down is complete. Not even the worse possible news can turn the euro back now.
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I've got a great idea, how about you guys stop shouting wild things unless you have a crystal ball.
I've got a great idea, how about you guys stop shouting wild things unless you have a crystal ball.
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Take a bit of your precious time and study the weekly chart as far back as you possibly can. What do you notice at the major turn-arounds? If you cannot recognise anything you don't belong in this game.
lol, guys u can play the ride enjoy the joy only to save the wrath for someother day... make no mistake Euro will break 1.2 this year sooner than later... Cheers... Happy Trading...
I've got a great idea, how about you guys stop shouting wild things unless you have a crystal ball.
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it's free forum, just let them shout : how euro is really weak and it should go down. It much more easier for them to cope and accept loses on their shorts, it gives them hope ... let them shout, the louder the better
Five count wave is only meaningfull as long as it does not become a seven count wave structure.
Five count is highest probability for normal trends.
Euro is hardly a normal trend.
Anyways good luck.
Would also add the amount of support the Euro gets from the everyday unnamed sources, hardly begets a climax move to end a downtrend.
It is in a retrace, the Bear is far from over technicaly.
this is one of those days when "any" news is going to make things creep up.... let's see what happens tomorrow..... my bet is short, no matter what the elliott wave folks would like you to believe.......
it's free forum, just let them shout : how euro is really weak and it should go down. It much more easier for them to cope and accept loses on their shorts, it gives them hope ... let them shout, the louder the better
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Right, right, right. They are free to say anything, but these vague predictions are ridiculous.
Take a bit of your precious time and study the weekly chart as far back as you possibly can. What do you notice at the major turn-arounds? If you cannot recognise anything you don't belong in this game.
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Actually retail traders are *following* the market, not making it. Just keep this in mind.
You've seen the bottom for the Eur for a very long time to come. Look at the weekly chart, 5 waves down is complete. Not even the worse possible news can turn the euro back now.
Take a bit of your precious time and study the weekly chart as far back as you possibly can. What do you notice at the major turn-arounds? If you cannot recognise anything you don't belong in this game.
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Bakker I admire your effort, really I do. In fact you almost made me second guess my daily count in which I believe the EUR/USD is currently still in a downward wave 3 (going back to Feb 28th).
On the weekly chart I've notice that the weekly highs are getting lower and the weekly lows are lower as well (highs of July 2008 (1.6), Nov 2009 (1.51) and May 2011 (1.49) vs. lows of Oct 2008 (1.23), June 2010 (1.19) and the upcoming July 2012 low of 1.15))
Whoooo, so many expert and proffessional here ??? 1.46, 1.36, 1.33, 1.21, .129, .1.799, 2,2 ???, 1.77, 1.86. ah
Simple - when it goes down you just short, and LONG when goes bavk up, don't predict the unknown future. Even EU are not sure what they are doing now ?
Just think how many country in this world are holding their foriegn
reserved in Euro as their second choice currency beside dollar.
Will they let it down easily.
Euro should be alot stronger. Stability in the eurozone has increased and economic future is improving. It should be around 1.48
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You are right but twitter and other source spread same news again and again to there benefit, big authority know it should be higher but they want small traders money
it's free forum, just let them shout : how euro is really weak and it should go down. It much more easier for them to cope and accept loses on their shorts, it gives them hope ... let them shout, the louder the better
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I tend to agree with your sense that if qe3 is so unsure or unclear to participants at this time (even though it appears inevitable and Ben said as much yesterday when he said the next meeting is decision point - with jobs in focus), then stronger hint/indications should fuel a rally. Of course there is the open of question of timing.
PS: Unlike the news and eco releases (which I insist people should not bother with) - stimulus is a flow variable and therefore structurally important to how the market works as opposed to the transient impact of news and ecos. By the way the timing of my post on which you commented on elsewhere had nothing to do with my position there. I never trade based on news (as I have said oftentimes). My positions are based on my crude estimates of the sign of the flow. The flow explains direction 7 out of 10 times and the news 0 times according empirical studies and I find this true in practice.