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  • #6,841
  • Apr 19, 2008 2:32am Apr 19, 2008 2:32am
I believe the move lower yesterday, is part of a much needed retracement. Needless to say, Friday is the profit taking day..

Break above 1.6000, I would not recommend staying long EU due to the risks of intervention.

At the same time, I would not go the other way (short) in anticipation of intervention, but instead look to get short if/when intervention does occur.
"Building Wealth By Confidence, Consistency, & Compounding"
  • #6,842
  • Apr 19, 2008 2:07pm Apr 19, 2008 2:07pm
Quoting scyang
But what's the reason why gold dropped so much? I don't think things happen for no reason - just trying to understand.
The reason gold dropped so much on friday was profit taking and the good news from citi bank. The markets move there money into gold when there is alot of uncertainity. With the citi bank news, they probably thought " Hey, things aren't that bad". So they take there money out and invest it in riskier assets again. I mean, look at G/J, 800 pips up in 2 days. The investors were feeling more risky on friday.

Moving towards the summer, the USD is going to gain strength as the FED stops cutting rates and growth in europe slows. We'll prob hit 1.6 and even a few hundred pips above that to run the retail stops but then its going to go down down down after that.
  • #6,843
  • Apr 19, 2008 8:25pm Apr 19, 2008 8:25pm
EUR at 1.57436 at the moment , that`s over 60 pip drop from the close
  • #6,844
  • Apr 20, 2008 12:34am Apr 20, 2008 12:34am
Quoting goranFX
EUR at 1.57436 at the moment , that`s over 60 pip drop from the close
hey goranFX

Could u please tell me where did u get that??
where can i get the price change when the markets are closed?

thanks
  • #6,845
  • Apr 20, 2008 7:31am Apr 20, 2008 7:31am
Quoting goranFX
EUR at 1.57436 at the moment , that`s over 60 pip drop from the close
Interesting.. you are predicting a drop or expecting a gap? You seem very sure.
  • #6,846
  • Apr 20, 2008 7:48am Apr 20, 2008 7:48am
Quoting goranFX
EUR at 1.57436 at the moment , that`s over 60 pip drop from the close
I don't know where you are seeing it...
I have Oanda and can trade 24/7 and it is 1.58122/1.58222 (10 spread, it's the weekend and typical for Oanda). It hasn't moved since 15:00 CDT.
  • #6,847
  • Apr 20, 2008 9:23am Apr 20, 2008 9:23am
Quoting Fx_Genius
I don't know where you are seeing it...
I have Oanda and can trade 24/7 and it is 1.58122/1.58222 (10 spread, it's the weekend and typical for Oanda). It hasn't moved since 15:00 CDT.
5732 now

Oanda is for retail traders like all brokers and will not updatwe on the weekend

http://www.xe.com/
Don't chase the market, Let the market come to you
  • #6,848
  • Apr 20, 2008 9:35am Apr 20, 2008 9:35am
Quoting Tmac
5732 now

Oanda is for retail traders like all brokers and will not updatwe on the weekend

http://www.xe.com/
hey Tmac

Does this mean that when the market open today there will be gap down to 5732 from almost 5809????
  • #6,849
  • Apr 20, 2008 9:52am Apr 20, 2008 9:52am
Quoting Tmac
5732 now

Oanda is for retail traders like all brokers and will not updatwe on the weekend

http://www.xe.com/

The link below is not a promotion, just showing 24/7 trading.

"Flexibility
OANDA offers the flexibility to tailor trading and hedging to your own needs.
Trade 24 hours a day, 7 days a week, 365 days a year.

"http://fxtrade.oanda.com/forex_tradi...da/index.shtml

Image is from last weekend, move started about 11:00 AM CDT.
Most of the charts I saw from last weekend showed a gap.
Attached Image (click to enlarge)
Click to Enlarge Name: LastWeekend.png Size: 24 KB
  • #6,850
  • Apr 20, 2008 9:59am Apr 20, 2008 9:59am
The prices for CHF,JPY,GBP,CAN are all standing where the market closed. Why would Euro fall and not any other pair?

That's doesn't really make sense. esp when CHF and Euro are in reverse correlation.

I suspect this site's prices.
  • #6,851
  • Apr 20, 2008 10:46am Apr 20, 2008 10:46am
Quoting emadanton
hey goranFX

Could u please tell me where did u get that??
where can i get the price change when the markets are closed?

thanks
xe.com
  • #6,852
  • Apr 20, 2008 10:46am Apr 20, 2008 10:46am
Quoting emadanton
hey Tmac

Does this mean that when the market open today there will be gap down to 5732 from almost 5809????
yeap
Don't chase the market, Let the market come to you
  • #6,853
  • Apr 20, 2008 10:46am Apr 20, 2008 10:46am
http://money.cnn.com/data/currencies/index.html

Euro 1.5732
  • #6,854
  • Apr 20, 2008 10:49am Apr 20, 2008 10:49am
Quoting Agent-Pipen
The prices for CHF,JPY,GBP,CAN are all standing where the market closed. Why would Euro fall and not any other pair?

That's doesn't really make sense. esp when CHF and Euro are in reverse correlation.

I suspect this site's prices.
all they report is the market price so why suspect them of anything, they have nothing to gain or lose, they only show actual market price.
Don't chase the market, Let the market come to you
  • #6,855
  • Apr 20, 2008 10:49am Apr 20, 2008 10:49am
also at money.cnn.com
  • #6,856
  • Apr 20, 2008 10:57am Apr 20, 2008 10:57am
Quoting goranFX
also at money.cnn.com
Check the date/time at the bottom.
"12:00 AM ET 04/18/2008"
Today is 4/20/2008.
  • #6,857
  • Apr 20, 2008 11:07am Apr 20, 2008 11:07am
Quoting Fx_Genius
Check the date/time at the bottom.
"12:00 AM ET 04/18/2008"
Today is 4/20/2008.
You are right , i didn`t notice that, but xe.com it updates every 1-2 minutes
  • #6,858
  • Apr 20, 2008 1:41pm Apr 20, 2008 1:41pm
xe.com showing 5808 now.
  • #6,859
  • Apr 20, 2008 1:41pm Apr 20, 2008 1:41pm
Current web pricing..
xe.com 1.58085
Forex.com 1.5806
migfx.com 1.5815 1.5817
fxclub.com 1.5816
Oanda.com 1.58122/1.58222
  • #6,860
  • Apr 20, 2008 1:57pm Apr 20, 2008 1:57pm
1.58094 - 1.58194 Oanda
485 traders viewing now