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  • #1,186,281
  • Oct 28, 2020 7:52am Oct 28, 2020 7:52am
So if Eupean union ease the policy by December, should we expect EUR to depreciate or appreciate?
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  • #1,186,282
  • Oct 28, 2020 7:55am Oct 28, 2020 7:55am
Quoting OxyGen_FX
{quote} For me, I would hesitate to call that a flag, as the ""pole" (from 1.1870 down to 1.1600) is too short. Or the flag is too big. Somehow, I am not too excited to see this break. I do not know why. Sometimes when we remove all trendlines and redraw again, perspective sometimes change. See this re-drawn EU Daily. Looks kinda bullish on a larger timeframe. LOL {image}
Cool I got you. For me the reason this is happening is stock market based. Its a flight to the USD. Markets have not had a 10% correction yet even. Its all propped up.

USD rises. But not like its all gung ho forever just a short term trend to trade.

The flag has a breakdown though a very short pole. And thus an area as well to manage the risk if wrong. Its a good set up that so far is playing out for some of us.
  • #1,186,283
  • Oct 28, 2020 7:57am Oct 28, 2020 7:57am
EU runned above its 20 ADR today and seems like, it wants to move some lower.

I will test a small long at 1700, but we may see 1765 first.
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  • #1,186,284
  • Oct 28, 2020 7:59am Oct 28, 2020 7:59am
Trade safe
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  • #1,186,285
  • Oct 28, 2020 8:05am Oct 28, 2020 8:05am
Quoting enarco
{quote} Cool I got you. For me the reason this is happening is stock market based. Its a flight to the USD. Markets have not had a 10% correction yet even. Its all propped up. USD rises. But not like its all gung ho forever just a short term trend to trade. The flag has a breakdown though a very short pole. And thus an area as well to manage the risk if wrong. Its a good set up that so far is playing out for some of us.
Yes it is pure USD move, thanks for the reminder, for I had forgotten to check, and thus quickly took a peek at USDJPY and USDCHF.
USDCHF was rising....LOL....its a flight to USD, or either CHF is losing its haven status.
  • #1,186,286
  • Oct 28, 2020 8:13am Oct 28, 2020 8:13am
Leading Diagonal Triangle sub wave 7 breaks out of the triangle to and exhaustion point that signals termination of wave 7 in the higher degree.
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  • #1,186,287
  • Oct 28, 2020 8:16am Oct 28, 2020 8:16am
Quoting OxyGen_FX
{quote} Yes it is pure USD move, thanks for the reminder, for I had forgotten to check, and thus quickly took a peek at USDJPY and USDCHF. USDCHF was rising....LOL....its a flight to USD, or either CHF is losing its haven status.
guess i am new to though of CHF being a haven currency....though move to it often had to do with its rates and being used a carry trade....
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  • #1,186,288
  • Oct 28, 2020 8:20am Oct 28, 2020 8:20am
Quoting mistaouting
1700 area may provide some relief
1750 and 1775 areas are my short term R areas and only support i can currently see now is that 1700 area
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  • #1,186,289
  • Oct 28, 2020 8:32am Oct 28, 2020 8:32am
3 days to goto 1970 / 2000 and next dip Fri sell off I'm speculating.
Founder of Sutherland Wave Principle
  • #1,186,290
  • Oct 28, 2020 8:34am Oct 28, 2020 8:34am
Quoting mistaouting
{quote} guess i am new to though of CHF being a haven currency....though move to it often had to do with its rates and being used a carry trade....
CHF is, or was maybe, a traditional safe haven due to stable politics and its banking secrecy practices.
So much money poured in to buy CHF, made CHF kept rising, their central bank SNB spent billions to sell to openly intervene.
Until SNB got pissed, stopped their selling, and decrease rates to negative.
But EURCHF and USDCHF is still falling....LOL

EURCHF, past 20 years
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  • #1,186,291
  • Oct 28, 2020 8:48am Oct 28, 2020 8:48am
Quoting OxyGen_FX
{quote} CHF is, or was maybe, a traditional safe haven due to stable politics and its banking secrecy practices. So much money poured in to buy CHF, made CHF kept rising, their central bank SNB spent billions to sell to openly intervene. Until SNB got pissed, stopped their selling, and decrease rates to negative. But EURCHF and USDCHF is still falling....LOL EURCHF, past 20 years {image} {image}
oh, never thought of it that way. Thanks for sharing

EDIT: I thought of the USD and JPY being more of the havens
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  • #1,186,292
  • Oct 28, 2020 9:11am Oct 28, 2020 9:11am
Lets all jam to this

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  • #1,186,293
  • Oct 28, 2020 9:14am Oct 28, 2020 9:14am
I could see this trend with eurousd continuing until the dust settles from the US election and the outcome of the the so called second wave of covid in the EU could produce economic outcomes that could really move markets so you may continue to see investors moving out of euro reducing risk until the results of second wave are a little more clear and with USD i would expect stimulus to have little effect on USD but with uncertainty of which party will take white house moves to the USD may take effect and move sideways until markets know who is in white house and what and how their policies will affect USD and global economy. Think we know what will we get from Trump and can assume what will get from Biden...but question is will Biden polices really devalue US stocks and US economy....I doubt it...and believe any policy changes made that markets will adjust and get back to what is best normal as possible....with covid giving us a new normal....

So unlike other traders have mentioned....i think volatility around election will subside soon until which has been much actually...until we see who is in white house and what campaign policies they actually see though....until then covid will continue to drive the markets
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  • #1,186,294
  • Oct 28, 2020 9:17am Oct 28, 2020 9:17am
Quoting mistaouting
{quote} oh, never thought of it that way. Thanks for sharing EDIT: I thought of the USD and JPY being more of the havens
See that EURCHF chart, during Jan 2015, SNB abruptly stopped propping up EURCHF.
EURCHF crashed 20% within 1 minute.
2000 pips in 1 minute.
Many forex brokers (and traders and banks and funds) went bankrupt instantly within the hour.

And now CHF rates is -0.75%.
One has to interest to deposit in there! LOL.
And the CHF still rises.....
  • #1,186,295
  • Oct 28, 2020 9:18am Oct 28, 2020 9:18am
This ones for the urban traders

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  • #1,186,296
  • Oct 28, 2020 9:30am Oct 28, 2020 9:30am
Quoting mistaouting
I could see this trend with eurousd continuing until the dust settles from the US election and the outcome of the the so called second wave of covid in the EU could produce economic outcomes that could really move markets so you may continue to see investors moving out of euro reducing risk until the results of second wave are a little more clear and with USD i would expect stimulus to have little effect on USD but with uncertainty of which party will take white house moves to the USD may take effect and move sideways until markets know who is in...
Correct. As for the white house, we all know Trump will win. Biden was put there on purpose to lose. Biden is not all there in the brain, so there is no way he can be a president and run a country.
  • #1,186,297
  • Oct 28, 2020 9:53am Oct 28, 2020 9:53am
Quoting Techanalyst
{quote} Correct. As for the white house, we all know Trump will win. Biden was put there on purpose to lose. Biden is not all there in the brain, so there is no way he can be a president and run a country.
It is no surprise that you favor Trump lol. My post had nothing to do with who would win but scenarios on both outcome....again its been obvious that you are emotionally attached to Trump and Biden. One should remove emotion and rely and fact and truth. With such and emotional attachment it would be a waste of time to give insight into what currently is taking place within US politics and markets(my opinion and insight).

To quote you "we all know Trump will win" is like someone saying we all know EURO was going to 1.3 area as we head into US election...well US election is here...how to say something of the sort with such confidence is speaking from emotion because logic would tell you who the F knows but such a large number in early votes usually says something...

ironic how guys are currently saying we know trump will win....then say if Biden wins us economy will be in shambles....well us stocks currently taking a dump as I type....markets love trump; so sure he will win traders should be buying stocks not selling....maybe confusing and hard to digest especially for rookies

The fact you can proclaim Trumps victory says enough for me....maybe more about emotion with you than logic or just misguided logic

Again my post had nothing to do or said anything about who would win but gave insight into on both outcomes

EDIT: Pretty much a bunch of idiots on both sides....not all; but boy the past several years have really exposed a lot of hidden idiots

EDIT: Actually knew the world was full of idiots but its a different when you to actually get to see them reveal themselves and watch them embrace it....even better when you get to seem the color coded by political party and level of idiotness with bigotry
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  • #1,186,298
  • Oct 28, 2020 9:55am Oct 28, 2020 9:55am
Quoting Techanalyst
{quote} Correct. As for the white house, we all know Trump will win. Biden was put there on purpose to lose. Biden is not all there in the brain, so there is no way he can be a president and run a country.
Good luck with that.

You know do you. That is laughable. You think the markets are tanking because they think the nutcase who has had more people leave his office and then dish him in the history of presidents...will win? Laughable.

He won't even win with an old man who is not right in the head...in your mind. That tells you as much as Hillary Clinton Learned. People hated her so much they voted for Trump...well in the electoral college they did. Not even close in the popular vote.

But good luck with Trump boys. Good luck with that one. As we all laugh at you.
  • #1,186,299
  • Oct 28, 2020 10:01am Oct 28, 2020 10:01am
Alright lads, whoever wins the election we'll still be making pips.
You can lead a horse to water, but you can't make it drink
  • #1,186,300
  • Oct 28, 2020 10:01am Oct 28, 2020 10:01am
Quoting OxyGen_FX
{quote} See that EURCHF chart, during Jan 2015, SNB abruptly stopped propping up EURCHF. EURCHF crashed 20% within 1 minute. 2000 pips in 1 minute. Many forex brokers (and traders and banks and funds) went bankrupt instantly within the hour. And now CHF rates is -0.75%. One has to interest to deposit in there! LOL. And the CHF still rises.....
Even if u a winner u will still feel shock and sad on that day. A move out of nowhere no report no analysis nothing but dirt
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