OMG !!! Its the uncle of W.D.G. !!! 
- #981
- Nov 19, 2006 12:04pm Nov 19, 2006 12:04pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
- #982
- Nov 19, 2006 12:08pm Nov 19, 2006 12:08pm
- Joined Mar 2006 | Status: THANK YOU MERLIN,TWEE and FF Team | 4,603 Posts
Yea, He's a crusty old fart...
But to get back to topic, I do think the EURUSD will be close or at that level by about 11/20
If not, I will retire from predicting, in abject shame...
But to get back to topic, I do think the EURUSD will be close or at that level by about 11/20
If not, I will retire from predicting, in abject shame...
OMG !!! Its the uncle of W.D.G. !!!
Hello,
Do not get bored, you have heard it tons today. EURUSD finally broke out of its range 1.2456-1.2980 to make a series of explosions that sent the pair to 1.31.
I have the feeling the market participants were too bored from the tight ranges on market, and thats why we saw these explosions. The sellers at 1.2980 were not there, and prices dramatically pushed higher to signal a real departure from the older range.
I think the pair is heading to trade in 1.30-1.40 range for next year similarily to 1.20-1.30.
I am sure you had your buy stop just touch from 1.3000 figure, and you could hold it for the weeks ahead.
I open my chart to find a new weekly buy signal on EURUSD, and I won't call it drama to see it touching 1.36 over a month or so.
Now I see any try for dollar rally to be killed within 1.3000 or 1.2980 strong support now.
Well, what about ECB officials? Someone was out saying that if EURUSD reaches 1.35 it would hurt German exports. Are you giving the market a target to achieve? Lower than 1.35 does not hurt? So lets push it to that point and see the officials reaction.
I do not think ECB's Trichet or anyone is worried about EURO strength. but at certain level, they would want to push it lower. thus I think I am overshooting to say that EURO is going to hit 1.40 and let us be neutral to say that EURUSD at 1.3500 will satisfy everyone.
Cutting rates is the expected scenario for Fed, and now we all agree that the Dollar will be under pressure early next year as well. As market realizes Fed rates lower.
Technically, EURUSD daily seems a little overbought, but since we've already broken the range. we can expect a consolidaton or a bounce to 1.30 then a spike to 1.33 over next week or two weeks.
In fact, I didn't join the spike, cause I wasn't available on trading desk but I wish that you all have made profits from the big directional move.
And those who went short, a stoploss above 1.2980 ofcourse didn't hurt you that much. Stop and reverse is the way.
For USDCHF I think the pair is aiming towards 1.19 in the near term, and I went short on USDCAD for 1.12/11 targets. Let us see how this works out.
Best Regards, fellow Traders
Do not get bored, you have heard it tons today. EURUSD finally broke out of its range 1.2456-1.2980 to make a series of explosions that sent the pair to 1.31.
I have the feeling the market participants were too bored from the tight ranges on market, and thats why we saw these explosions. The sellers at 1.2980 were not there, and prices dramatically pushed higher to signal a real departure from the older range.
I think the pair is heading to trade in 1.30-1.40 range for next year similarily to 1.20-1.30.
I am sure you had your buy stop just touch from 1.3000 figure, and you could hold it for the weeks ahead.
I open my chart to find a new weekly buy signal on EURUSD, and I won't call it drama to see it touching 1.36 over a month or so.
Now I see any try for dollar rally to be killed within 1.3000 or 1.2980 strong support now.
Well, what about ECB officials? Someone was out saying that if EURUSD reaches 1.35 it would hurt German exports. Are you giving the market a target to achieve? Lower than 1.35 does not hurt? So lets push it to that point and see the officials reaction.
I do not think ECB's Trichet or anyone is worried about EURO strength. but at certain level, they would want to push it lower. thus I think I am overshooting to say that EURO is going to hit 1.40 and let us be neutral to say that EURUSD at 1.3500 will satisfy everyone.
Cutting rates is the expected scenario for Fed, and now we all agree that the Dollar will be under pressure early next year as well. As market realizes Fed rates lower.
Technically, EURUSD daily seems a little overbought, but since we've already broken the range. we can expect a consolidaton or a bounce to 1.30 then a spike to 1.33 over next week or two weeks.
In fact, I didn't join the spike, cause I wasn't available on trading desk but I wish that you all have made profits from the big directional move.
And those who went short, a stoploss above 1.2980 ofcourse didn't hurt you that much. Stop and reverse is the way.
For USDCHF I think the pair is aiming towards 1.19 in the near term, and I went short on USDCAD for 1.12/11 targets. Let us see how this works out.
Best Regards, fellow Traders
Forex is not easy!
Hello,
Do not get bored, you have heard it tons today. EURUSD finally broke out of its range 1.2456-1.2980 to make a series of explosions that sent the pair to 1.31.
I have the feeling the market participants were too bored from the tight ranges on market, and thats why we saw these explosions. The sellers at 1.2980 were not there, and prices dramatically pushed higher to signal a real departure from the older range.
I think the pair is heading to trade in 1.30-1.40 range for next year similarily to 1.20-1.30.
I am sure you had your buy stop just touch from 1.3000 figure, and you could hold it for the weeks ahead.
I open my chart to find a new weekly buy signal on EURUSD, and I won't call it drama to see it touching 1.36 over a month or so.
Now I see any try for dollar rally to be killed within 1.3000 or 1.2980 strong support now.
Well, what about ECB officials? Someone was out saying that if EURUSD reaches 1.35 it would hurt German exports. Are you giving the market a target to achieve? Lower than 1.35 does not hurt? So lets push it to that point and see the officials reaction.
I do not think ECB's Trichet or anyone is worried about EURO strength. but at certain level, they would want to push it lower. thus I think I am overshooting to say that EURO is going to hit 1.40 and let us be neutral to say that EURUSD at 1.3500 will satisfy everyone.
Cutting rates is the expected scenario for Fed, and now we all agree that the Dollar will be under pressure early next year as well. As market realizes Fed rates lower.
Technically, EURUSD daily seems a little overbought, but since we've already broken the range. we can expect a consolidaton or a bounce to 1.30 then a spike to 1.33 over next week or two weeks.
In fact, I didn't join the spike, cause I wasn't available on trading desk but I wish that you all have made profits from the big directional move.
And those who went short, a stoploss above 1.2980 ofcourse didn't hurt you that much. Stop and reverse is the way.
For USDCHF I think the pair is aiming towards 1.19 in the near term, and I went short on USDCAD for 1.12/11 targets. Let us see how this works out.
Best Regards, fellow Traders
very good analysis ahmed but be careful it may be BULL TRAP
HELO FROM EGYPT
Thank you guys.
There is also an ECB official who noted that 1.35 would hurt german exports. Is he giving a signal to market?
Well, Ahmed, you know - in 2003 when the price was rising towards 1.25 the ECB was saying 1.25 would hurt exports; in 2004, when price was getting close to 1.3, they were saying 1.3 would hurt the exports... now its the 1.35 that will hurt the exports
Economy is adjusting to the rate, and rate is adjusting to the economy. In addiition we have the central banks which regulate the market and take actions on the economic side...
cheers
- #996
- Dec 8, 2006 8:01pm Dec 8, 2006 8:01pm
- Joined Mar 2004 | Status: Senior Member | 1,634 Posts
All looks okay on my charts. NF and Oanda.
Some just cant believe USD threw a punch before the weekend.
With regard to Oanda, I dont think there is price action on their charts from Friday NY close to Sunday mid day since I have seen price change at the Xe site and then when Oanda opens on Sunday the Oanda price has moved at the opening candle. That is why I asked folks to check other feeds ! You have to check a site that is known to give price action after hours. Price Does Move during that time.
Lou
