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  • #4,441
  • Feb 21, 2008 3:09pm Feb 21, 2008 3:09pm
I do understand the price movements this month so far.
It is just a low volatility market these days. Nothing crazy at all.

Still up to +270 pips this month.
Trainee at UBS Investment Banking
  • #4,442
  • Feb 21, 2008 3:31pm Feb 21, 2008 3:31pm
Quoting TIckerShuffl

Forex seems a little random lately.
I dunno about the other pairs but euro$ has been very predictable all year so far.

For those who don't know whats going on refer to my chart.

For those who are shorting now, refer to my chart.

I only pop in once in a great while to give solid direction on euro$. Those who know me will profit from this advise. Others will ignore it and continue to scratch there heads in wonder.
  • #4,443
  • Feb 21, 2008 4:05pm Feb 21, 2008 4:05pm
[quote=xxDavidxSxx;1863912]I dunno about the other pairs but euro$ has been very predictable all year so far.

For those who don't know whats going on refer to my chart.

For those who are shorting now, refer to my chart.

I only pop in once in a great while to give solid direction on euro$. Those who know me will profit from this advise. Others will ignore it and continue to scratch there heads in wonder.[/quote]
I guess I'll continue to scratch and wonder ....
  • #4,444
  • Feb 21, 2008 4:45pm Feb 21, 2008 4:45pm
Its actually hard to take a long position here. Price is close to resistance. But with the current momentum a short is almost suicidal.

Use the 50's mid way points of entry. If price rises above 1.4850 its likely to hit 1.4900. If price falls below 1.4750 its likely to test 1.4700.

This is how I'll determine to stay or close a position too.
  • #4,445
  • Feb 21, 2008 5:36pm Feb 21, 2008 5:36pm
I was going to say, maybe it's time to step back and take a look at the big picture. When I do however, it doesn't help and am I not sure I like what I see.
  • #4,446
  • Feb 21, 2008 7:04pm Feb 21, 2008 7:04pm
With 1.4800 possibly acting as our support level, it looks as if we may have an attempt higher tomorrow. If the support level holds throughout most of the asian session, we may be able to see europe push this pair higher. Resistance is seen at 1.4840ish which was around todays highs.
"Don't work for your money, but let money work for you."
  • #4,447
  • Feb 21, 2008 7:32pm Feb 21, 2008 7:32pm
im forecasting we will see 4925 tonight.....
  • #4,448
  • Feb 21, 2008 7:37pm Feb 21, 2008 7:37pm
Quoting slappy
im forecasting we will see 4925 tonight.....
maybe a chart :-D ?
  • #4,449
  • Feb 21, 2008 7:50pm Feb 21, 2008 7:50pm
Quoting slappy
im forecasting we will see 4925 tonight.....
I'm forecasting the opposite is true ...
  • #4,450
  • Feb 21, 2008 7:56pm Feb 21, 2008 7:56pm
Please take note that fundamental news for euro are expected not to be that good today. The momentum upwards might be reduced a bit though. I don't think it will reach 1.4900 today. Anyway... just an opinion...
  • #4,451
  • Feb 21, 2008 8:11pm Feb 21, 2008 8:11pm
Quoting Schminner
I'm forecasting the opposite is true ...
well while you sit and scratch your head i will be collecting pips long since 4625 and have added half lot every 75 pips
  • #4,452
  • Feb 21, 2008 8:39pm Feb 21, 2008 8:39pm
This looks ripe for a 50-80 pip ride down before NY session open, conservatively.
  • #4,453
  • Feb 22, 2008 12:14am Feb 22, 2008 12:14am
I think we're about to see a very long term dollar rally. I'm talking years, 6-8 years.... The start of this really should be starting very shortly. Possible this in the next 1-4 weeks. Any thoughts?
  • #4,454
  • Feb 22, 2008 12:24am Feb 22, 2008 12:24am
Like I was saying before, it didn't reach the full low of the triangle (1.44) because of the ok EUR news and bad US news all throughout the drop. The slow rise this time was because of all the bears not sure their time is over.
Now it's likely to break 1.49 but it might take a while. I think major support is 475 not 480. Wouldn't wait for breaks above 1.5 unless it actually consolidates above 1.495 for a while, and if only jumps through 495 like before then look for reversal below 475-48. All's just my opinion of course.

Personally, I won't go long today unless it falls to 475 for awhile and then clearly start to bounce up.
On the path to Enrichment.
  • #4,455
  • Feb 22, 2008 1:03am Feb 22, 2008 1:03am
Quoting xxDavidxSxx
But with the current momentum a short is almost suicidal.
I don't view taking any position as suicidal, provided your money management is sound. For my part, I have a small short position from 1.4800, and will settle for 50 pips - a profit is a profit. Barring some catasrophic event for the dollar in the next 12 hours, I think this is highly achievable.
  • #4,456
  • Feb 22, 2008 3:18am Feb 22, 2008 3:18am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting ckny74
I think we're about to see a very long term dollar rally. I'm talking years, 6-8 years.... The start of this really should be starting very shortly. Possible this in the next 1-4 weeks. Any thoughts?
any basis for this thought, or was it just to get a reaction?

no chance - the US owes trillions and has no means to clear the dept this month. the election might see a decent reaction either way depending on how the world reacts to the new leader, but until the changes take place and policy shows up to state how the money situation will be fixed - it's all down hill for the dollar.
  • #4,457
  • Feb 22, 2008 4:10am Feb 22, 2008 4:10am
Quoting slappy
well while you sit and scratch your head i will be collecting pips long since 4625 and have added half lot every 75 pips
yay snap, kinda...gimme 5, long since 14500 on the 8th using simple trend following.
  • #4,458
  • Feb 22, 2008 4:41am Feb 22, 2008 4:41am
Quoting MPP
any basis for this thought, or was it just to get a reaction?

no chance - the US owes trillions and has no means to clear the dept this month. the election might see a decent reaction either way depending on how the world reacts to the new leader, but until the changes take place and policy shows up to state how the money situation will be fixed - it's all down hill for the dollar.
I agree with MPP. Although I don't know too much about fundamentals, from a technical standpoint, it takes months (minimum 6 months ATLEAST).. sometimes even a year or more for the trend to turn around. It doesn't just "turn around" overnight. Having said that... I think 1.5000 level is going to be blown away like it wasn't even there in the first place lol.
  • #4,459
  • Feb 22, 2008 4:47am Feb 22, 2008 4:47am
I just closed my long. from last night...err...hours ago. Taking the money and running. She could roll over any minute - you never know.
  • #4,460
  • Feb 22, 2008 5:01am Feb 22, 2008 5:01am
Quoting TIckerShuffl
I just closed my long. from last night...err...hours ago. Taking the money and running. She could roll over any minute - you never know.
You coward....!!
Trainee at UBS Investment Banking
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