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  • #6,341
  • Apr 8, 2008 6:58am Apr 8, 2008 6:58am
Quoting Jurrasic
Looks like price is in an uptrend channel about 95 pips wide since the fall at the start of the week..
who vote long EURUSD
  • #6,342
  • Apr 8, 2008 7:26am Apr 8, 2008 7:26am
Handy Breakdown In Euro/Usd...A perfect One...
For More than +5 0Pip's...
See the Screenshot......
Attached Image (click to enlarge)
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  • #6,343
  • Apr 8, 2008 7:47am Apr 8, 2008 7:47am
looks like many people are working hard to make and keep pips. I still see price as consolidating between the low on March 24 and the high on March 26. I have been on the sides all week so far waiting for a good setup to make lots of safe pips. I expect nothing much until after FOMC today. Interesting to watch price bouncing around without much direction.
  • #6,344
  • Apr 8, 2008 8:51am Apr 8, 2008 8:51am
In case you are wondering (just like me) why the EUR came down, here is the gossip.

EUR came down because of heavy GBP selling. Then there was some large FIX order to sell EUR this was then followed by East European selling interest.
  • #6,345
  • Apr 8, 2008 8:55am Apr 8, 2008 8:55am
Quoting Ultraman
who vote long EURUSD
Depends on when and how much.. now it's all poor guesses, the bigger picture I'd guess is down against 1.6 with better US and some worse EUR recently as some said here about the lag in the effects.. then there's the interest rate.. But this BS shouldn't last more than a week I think, then we'll finally start moving and winning big
Quoting smartyram
In case you are wondering (just like me) why the EUR came down, here is the gossip.

EUR came down because of heavy GBP selling. Then there was some large FIX order to sell EUR this was then followed by East European selling interest.
Considering the probably rather thin market now, makes sense that such secondary things would have effect I guess..
On the path to Enrichment.
  • #6,346
  • Apr 8, 2008 10:06am Apr 8, 2008 10:06am
I'll be traveling to an island for a week... and won't be able to trade... I'll miss the forum.

Don't let the euro go to 1.60 without me !! hehe
happy trading and see you in a week
  • #6,347
  • Apr 8, 2008 10:08am Apr 8, 2008 10:08am
Good timing enjoy emda
On the path to Enrichment.
  • #6,348
  • Apr 8, 2008 10:09am Apr 8, 2008 10:09am
So, what are the thoughts?
Are we going to see 1.5820 quite soon?
I think Asia will spike again today.
  • #6,349
  • Apr 8, 2008 10:24am Apr 8, 2008 10:24am
Quoting Hhrp
So, what are the thoughts?
Are we going to see 1.5820 quite soon?
I think Asia will spike again today.
I think the FOMC meeting details will spill the beans. If the Fed plans to slow down the interest rate cuts then the EUR might correct. This is will be helped by the new formed thinking that traders have been too pessimistic about the USD. I read about this on Bloomberg.

If the Fed plans to keep the interest rate cutting party going then the EUR will rise but face resistance at the 1.5800 - 1.5900 levels. I personally think 1.6000 will force a big correction in EUR.
  • #6,350
  • Apr 8, 2008 10:37am Apr 8, 2008 10:37am
Quoting smartyram
I think the FOMC meeting details will spill the beans. If the Fed plans to slow down the interest rate cuts then the EUR might correct. This is will be helped by the new formed thinking that traders have been too pessimistic about the USD. I read about this on Bloomberg.

If the Fed plans to keep the interest rate cutting party going then the EUR will rise but face resistance at the 1.5800 - 1.5900 levels. I personally think 1.6000 will force a big correction in EUR.

Thanks For The Insight.
  • #6,351
  • Apr 8, 2008 11:30am Apr 8, 2008 11:30am
Quoting smartyram
I think the FOMC meeting details will spill the beans. If the Fed plans to slow down the interest rate cuts then the EUR might correct. This is will be helped by the new formed thinking that traders have been too pessimistic about the USD. I read about this on Bloomberg.

If the Fed plans to keep the interest rate cutting party going then the EUR will rise but face resistance at the 1.5800 - 1.5900 levels. I personally think 1.6000 will force a big correction in EUR.
100% agree with you.. If any hint of Inetrest rate cut from FOMC, we will see EU at 1.60 soon. If no Hint then we will see Eu to hit bottum 1.532 to start a new rally for 1.60...
  • #6,352
  • Apr 8, 2008 12:39pm Apr 8, 2008 12:39pm
Quoting Hammad
100% agree with you.. If any hint of Inetrest rate cut from FOMC, we will see EU at 1.60 soon. If no Hint then we will see Eu to hit bottum 1.532 to start a new rally for 1.60...
I agree but I don't think even a hint at an interest rate cut will be required, just mention the "R" word. I was looking back at news releases here for the past 3 weeks and added up good news vs bad news.

US + news 13
US - news 11
E$ + news 12
E$ - news 6

E$ may have some trouble but not yet as bad as US.
We have been sideways since Friday with 1 little blip and about to hit the lower trend line, major & mid trend is still up.
Oil is up and very little E$ following (103 Fri to 109 High today).
There seem to be more long trades in and a lot of short orders waiting for a spike.

I think we will here the "R" word. More than once. Hang on for the ride.
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  • #6,353
  • Apr 8, 2008 12:56pm Apr 8, 2008 12:56pm
Good analysis FX Genius.
  • #6,354
  • Apr 8, 2008 1:08pm Apr 8, 2008 1:08pm
Quoting Trade4Cash
Good analysis FX Genius.
Thank you. FOMC minutes a non-event?? I know it takes a while to read and reads like Ikea furniture instructions but only a 20 pip range?!?! If FOMC can't move it, what will it take?
  • #6,355
  • Apr 8, 2008 1:12pm Apr 8, 2008 1:12pm
Quoting Fx_Genius
Thank you. FOMC minutes a non-event?? I know it takes a while to read and reads like Ikea furniture instructions but only a 20 pip range?!?! If FOMC can't move it, what will it take?


Be patient! And yes, nice analysis!
  • #6,356
  • Apr 8, 2008 1:14pm Apr 8, 2008 1:14pm
Quoting Fx_Genius
Thank you. FOMC minutes a non-event?? I know it takes a while to read and reads like Ikea furniture instructions but only a 20 pip range?!?! If FOMC can't move it, what will it take?
0

let it settle down and show its direction
Don't chase the market, Let the market come to you
  • #6,357
  • Edited 1:19pm Apr 8, 2008 1:18pm | Edited 1:19pm
Quoting smartyram
Be patient! And yes, nice analysis!
I have patients, what I don't have is a computer in the bathroom to trade on! Been sitting here for to long and don't want to miss it if it breaks real fast. And thank you also.

Edit: Oil dipped to 108.20 and is heading back up. Might have been waiting on other markets.
  • #6,358
  • Apr 8, 2008 1:21pm Apr 8, 2008 1:21pm
If 1.5660 breaks 1.5580 will be next stop.
  • #6,359
  • Apr 8, 2008 2:32pm Apr 8, 2008 2:32pm
FOMC statement was not enough to pull back EURUSD... after a very light down movement it moved up nearly 40 pips... I am still having the feeling that EURUSD will reach at least 1.5900 again... also, every time signs of economic crisis are more reluctant... and US government corrections are not effective... what will happen to EURUSD the days to come?
... All good things come to those who wait...
  • #6,360
  • Apr 8, 2008 4:05pm Apr 8, 2008 4:05pm
Quoting Fx_Genius
I have patients, what I don't have is a computer in the bathroom to trade on! Been sitting here for to long and don't want to miss it if it breaks real fast. And thank you also.

Edit: Oil dipped to 108.20 and is heading back up. Might have been waiting on other markets.
What do you mean brakes? Goes down or spikes up?
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