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  • #3,701
  • Jan 15, 2008 7:32pm Jan 15, 2008 7:32pm
Quoting attrium
We seem to have a double-top now, with a lower high. And to me that looks like a big bear.
Hasn't dropped off the high yet. Could be a shakeout before the move higher - all those people who put everything they have into the "lock" - starting to question themselves
  • #3,702
  • Jan 15, 2008 7:43pm Jan 15, 2008 7:43pm
I can not believe the move it has had. I completely forgot about it, when it was being bogged down by USDCAD dropping below parity; i was thinking it was coupled for good, but it broke free and set new highs...something is going there - and with EURAUD. Is it a case of run up everything but EURUSD to keep USD at least moderately strong enough to do business in the world? Confusing.

USD has so much debt out there...I must be in denial, because I was tired of carrying the weight of the reality.
  • #3,703
  • Jan 15, 2008 7:54pm Jan 15, 2008 7:54pm
Why does everyone seem to think 1.50 should have already happened? 4916 wasn't close enough yet?

Remember: "measured devaluation"... things are looking pretty spiffy IMHO:

1) Bernanke: "substantive additional action" --> to me is 0.5% cut
2) Gold futures hitting $1,000 and above -- market is scared
3) Saudis mumbling something about de-pegging --> saudis are scared (again)
4) Recession chorus getting louder --> pundits want to be right
5) Greenspan joins investment fund as advisor, and that fund is looking for money on US economy short plays --> definitely a recession coming, maybe even a nasty one

I'm using the dips to fill'er up. A bit scared of possible draw-downs though. scared market = difficult to navigate.
  • #3,704
  • Jan 15, 2008 8:01pm Jan 15, 2008 8:01pm
why hasnt anyone voted on this thread? its a nice thread, no?
  • #3,705
  • Jan 15, 2008 8:01pm Jan 15, 2008 8:01pm
i sold usd/cad......that setup doesnt get any more perfect
  • #3,706
  • Jan 15, 2008 8:10pm Jan 15, 2008 8:10pm
Quoting doughboi
i sold usd/cad......that setup doesnt get any more perfect
why are you doing that.
sorry but in my humber opinion, the worse.

why?

boc saying curent canadian strenght hurting canada +
near united states +
oil dropping cause saudies +
subprime in canada from usa with love? +
exports dropping +
technical of daily bullish +
canadian $ went too far.

nice one to watch out is swissy. losing some strenght. and if looks bearish or fed cut rates by lets say 0.75% the selloff can be brutal by probable massive risk taking same than the yen pairs.
probably ej on 170 is going to be a joke. that cut could creat some strong rallies in stocks and whatever, except for the dollar who can get smashed badly.
--------------------------------------------------
its somehow difficult to navigate in forex right now, still possible.
  • #3,707
  • Jan 15, 2008 8:16pm Jan 15, 2008 8:16pm
Quoting attrium
We seem to have a double-top now, with a lower high. And to me that looks like a big bear.

Check carefully, Double top is not confirmed. Sure we see it might be a double top.
On 4 hour chart, there are no lower swing lows (two or more) and on daily, price is just around the previous high.
I also loook for double top reversal pattern to trade, only when it's confirmed.

Trade well.
Never Trade without a defined risk, never, never, never.
  • #3,708
  • Jan 15, 2008 8:17pm Jan 15, 2008 8:17pm
Somehow I don't believe the US data is true. I think it is manipulated. And traders sens that, cause they do calculations too. It seems like the big guys want a rate cut no matter what. And they will do everything they can to get it. Just look at the huge Intel after-market sell-off today. Intel is doing good, in fact very good. That little earning difference shouldn't do what it did. Something is not right...
I think that is why te EUR/USD can't really peak higher. There is too much fake in the market news here, and too many problems evolving in Europe already. Just right now everybody is blinded by the US data, and nobody seem to care about what is going on in Europe or other parts of the world...
The greatest risk in life, is not taking one!
  • #3,709
  • Jan 15, 2008 8:20pm Jan 15, 2008 8:20pm
Quoting FxGladiator
Check carefully, Double top is not confirmed. Sure we see it might be a double top.
On 4 hour chart, there are no lower swing lows (two or more) and on daily, price is just around the previous high.
I also loook for double top reversal pattern to trade, only when it's confirmed.

Trade well.
Yes, it started to move higher again...
Will see what happens...
The greatest risk in life, is not taking one!
  • #3,710
  • Jan 15, 2008 8:21pm Jan 15, 2008 8:21pm
Quoting FxGladiator
Euro is in an upward channel (4 hour chart).
A short term buy trade looks good.

euro just shot up 30 pips
Never Trade without a defined risk, never, never, never.
  • #3,711
  • Jan 15, 2008 8:27pm Jan 15, 2008 8:27pm
i catched them, look at my past post .

but i am out and not trading till tomorrow news.
(well, except for the u/j long)
  • #3,712
  • Jan 15, 2008 8:32pm Jan 15, 2008 8:32pm
A set of trax on the 2 HR chart at the the monthly pivot and decent support area, I'll take that trade every time, especially in the direction of the daily trend.
I seek not to know all the answers but to understand the questions.
  • #3,713
  • Edited 10:10pm Jan 15, 2008 8:39pm | Edited 10:10pm
CLosed long for +1%

On the sidelines for the news overnight. plenty of time to trade the pairs after news, these things should not be going too far...should they?
  • #3,714
  • Jan 16, 2008 4:54am Jan 16, 2008 4:54am
EUR is in high way for some days.And usd is so weak.
But eur/usd can't break 1.5.
So this is a good chance to sell eur/usd.
I see 1.46
If break 1.46.I go on see 1.43
My name is liujiangshi. {Links Removed}
  • #3,715
  • Edited 8:25am Jan 16, 2008 8:09am | Edited 8:25am
another good news in 5 minutes and eu is down.

news dollar supportive so far today, dollar day saved.
tomorrow is good, and seeing ahead 1.45.
----------------------------------------------------------
(bernanke please keep your mouth closed.)
  • #3,716
  • Jan 16, 2008 9:58am Jan 16, 2008 9:58am
what the hell is going on with eurusd???

130 pip drop in 25 minutes... And not after or before a major news release...
  • #3,717
  • Jan 16, 2008 10:10am Jan 16, 2008 10:10am
It's tired. and perhaps testing 20SMA on daily.

I can't help but grab a couple minis here.
  • #3,718
  • Jan 16, 2008 10:15am Jan 16, 2008 10:15am
wow 220 pips drop in 40 minutes...

and it is not willing so stop...

20 daily SMA is almost breached as well.. that pair is incredible oversold right now... lol...
  • #3,719
  • Jan 16, 2008 10:20am Jan 16, 2008 10:20am
Yeah I swore I wouldn't trade, but I had a order set at 1.46 so I am long and my fair price...maybe I can ride this one into the sunset. lol Dreaming again.

Edit: Closed 50pip
  • #3,720
  • Jan 16, 2008 10:21am Jan 16, 2008 10:21am
Quoting TIckerShuffl
Yeah I swore I wouldn't trade, but I had a order set at 1.46 so I am long and my fair price...maybe I can ride this one into the sunset. lol Dreaming again.
well a fall so big might mean a rise as big as this one in time...
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