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EURUSD

  • #7,901
  • Apr 29, 2008 10:39pm Apr 29, 2008 10:39pm
Quoting scyang
Things are completely at a standstill. Everybody sleeping?
i'm wait for the news, then i trade at EURUSD
  • #7,902
  • Apr 29, 2008 11:18pm Apr 29, 2008 11:18pm
Overall look is bearish...if you take a good look at price it aloready got rejected by my intrday levels if price holds it looking nicely bearish... we have a major support right below us from the daily chart and that is my monthly short...if that fails it show alot of selling pressure coming for the next month if we can get a daily canlde to close below. But back to todays trading as long as its below us i see it as support... I would not take a trade untill i get more volume in the market. I would wait for franky open before anything to be done.

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  • #7,903
  • Apr 29, 2008 11:32pm Apr 29, 2008 11:32pm
Quoting jets211990
Overall look is bearish...if you take a good look at price it aloready got rejected by my intrday levels if price holds it looking nicely bearish... we have a major support right below us from the daily chart and that is my monthly short...if that fails it show alot of selling pressure coming for the next month if we can get a daily canlde to close below. But back to todays trading as long as its below us i see it as support... I would not take a trade untill i get more volume in the market. I would wait for franky open before anything to be done.

Attachment
There is a possibility that the FED might say, after a 25bp cut, that they can't rule out further cuts in the near future. That would make their stance very dovish, the complete opposite from the ECB's. Does your analysis take that factor into consideration? Or you think that would not affect the trend of the pair?
Expected the unexpected
  • #7,904
  • Apr 29, 2008 11:39pm Apr 29, 2008 11:39pm
Wherever you may be -

Hello all - here's the current (within the last 2 hours) MNI techs for you -

EURO-DOLLAR TECHS: Move towards $1.5510 daily chart support possible
RES 3 $1.5773 Hourly res
RES 2 $1.5694 28 Apr high
RES 1 $1.5619 29 NY high
CURRENT LEVEL: $1.5562
SUP 1 $1.5540 29 Apr low
SUP 2 $1.5510 03 Apr low
SUP 3 $1.5408 25 Mar low
COMMENTARY: Price currently below both 21-hr 55-hr emas suggests
decline from previous record high of $1.6020 may resume after initial
sideways consolidation and a move towards daily chart support at $1.5510
as hourly oscillators` reading already displaying prominent bullish
convergences on yesterday`s fall to $1.5540 further steep decline
not seen.

Once again - this is courtesy of Market News International - and is for everybody's perusal and entertainment.

Happy pippin' everybody - let's a have a great day of it -

SeerEye
Pip what you see; See what you pip!
  • #7,905
  • Apr 29, 2008 11:54pm Apr 29, 2008 11:54pm
the way i look at the market varies alot....i can say something right now but i dont trade untill i have franky open...right now i can say something but when franky open the vloume of the candle can change my enteris perspective on it. Refering to the fundy i iwll look at what type of range are we looking at and such...
Right now I am still bearish price can come and test my intraday levels but right below us we have a major support so i will base my decision at a later time...you get to many fake movements at this tims...its simply to risky for me.
I rather miss a trade then loose one.

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  • #7,906
  • Apr 30, 2008 12:00am Apr 30, 2008 12:00am
As long I am below my intrday level anything against it is a lowr proababilty trade...when i do trade against it i look at price action and treat as a scalp untill we leave my (green) intraday fibbs...also we have a major resistance at intraday 61.8 fibb intrday long since we have resistance from downward trendline two.

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  • #7,907
  • Apr 30, 2008 12:09am Apr 30, 2008 12:09am
If you take a look at the usd/chf it borke all of the itraday resistances....what that means to me is that now I whant to see my supports hold...I would make that decision later bus as of right now price might come down to try this levels and then bounce and go upward....if that to happend then we would have a bearish result in the eur/usd

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  • #7,908
  • Apr 30, 2008 12:14am Apr 30, 2008 12:14am
Quoting jets211990
If you take a look at the usd/chf it borke all of the itraday resistances....what that means to me is that now I whant to see my supports hold...I would make that decision later bus as of right now price might come down to try this levels and then bounce and go upward....if that to happend then we would have a bearish result in the eur/usd

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I don't think usdchf is a complete cross from eurusd, is it? USDCHF is also very much influenced by the stock market, just like usdjpy. When the stock market improves, people's risk appetite improves and would borrow jpy or chf, since these two currencies have the lowest interest rate among all major currencies and buy higher yielding instruments. That's whey usdchf and usdjpy will be bullish. If the FED is hawkish in their rate decision and indicate that there is no more cut in the near future, the stock market will not like it very much and potential will move lower, which will drag down usdchf and usdjpy. But it will boost USD to move eurusd higher. This doesn't sound very logic. So I welcome any gurus to comment on this.
Expected the unexpected
  • #7,909
  • Apr 30, 2008 12:22am Apr 30, 2008 12:22am
i miss out went long to EURUSD which it nice climb up at TF15M,
i'm waiting for GBP news at 2PM
  • #7,910
  • Apr 30, 2008 12:27am Apr 30, 2008 12:27am
Quoting scyang
I don't think usdchf is a complete cross from eurusd, is it? USDCHF is also very much influenced by the stock market, just like usdjpy. When the stock market improves, people's risk appetite improves and would borrow jpy or chf, since these two currencies have the lowest interest rate among all major currencies and buy higher yielding instruments. That's whey usdchf and usdjpy will be bullish. If the FED is hawkish in their rate decision and indicate that there is no more cut in the near future, the stock market will not like it very much and potential will move lower, which will drag down usdchf and usdjpy. But it will boost USD to move eurusd higher. This doesn't sound very logic. So I welcome any gurus to comment on this.

Well i cant contradict you in this...but in order for me to take a trade in this when they run nicely opposite and i do know that they are not a cross...but thats just to my personal like.I like to feel very good about the way i take trades and that makes me feel good about the trade.
Same thing with the gbp/jpy well this is a cross
If i dont get the gbp/usd and usd/jpy moving together i wont trade it.Last night it was one of those events and i traded it for that reason.
  • #7,911
  • Apr 30, 2008 12:56am Apr 30, 2008 12:56am
News:
EUR/USD (1.5582)
European & US sessions forecast levels: 1.5540/1.5685
Trend Sessions: European: Neutral/Upward
US: Neutral/Upward
Market Focus: 8:30 AM ADP Employment, GDP-Adv, Chain Deflator-Adv., Employment Cost Index, 9:45 AM Chicago PMI, 2:15 PM FOMC policy statement, 3:55 AM German Unemployment Rate, 4:00 AM EU Unemployment Rate, Italian CPI, EU Consumer Confidence, CPI Flash Estimate, 7:55 AM ECB President Trichet Speaks.
Daily Strategy: Today is very rich day of economic events. It is expecting dynamic market. Today will be release key economic events from the Euro Zone and United States. The most important news is the FOMC policy statement. The latest speculations shows that Fed will make a pause in interest rates cut. The forecasts are by unchanged interest rates to cut with 25 or 50 bps. The Fed is close to the time when will stop with the interest rates cut. But still we are predicting new interest rates cut at least with 25 bps to this moment when Fed will hold the interest rates for longer time.


PS : will see u all at 8.30AM US open
  • #7,912
  • Apr 30, 2008 1:40am Apr 30, 2008 1:40am
It's trending up. Has it breeched any significant support line to indicate a bullish trend?
Expected the unexpected
  • #7,913
  • Apr 30, 2008 1:57am Apr 30, 2008 1:57am
Stiill holding short though in my head as long as intraday levels continue to hold like they are holding...

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  • #7,914
  • Apr 30, 2008 2:02am Apr 30, 2008 2:02am
Through a very lengthy and detailed study of recent Price Action; historical data, back testing, reading between the candlesticks and even the use of a Ouija board - I have finally determined that the current state of the Price Action in the Eur/USD completely, totally and royally SUCKS!!! -

Therefore, I sit on the sidelines playing tittly winks until my Ouija board tells me otherwise.

SeerEye
Pip what you see; See what you pip!
  • #7,915
  • Apr 30, 2008 2:24am Apr 30, 2008 2:24am
Quoting SeerEye
Through a very lengthy and detailed study of recent Price Action; historical data, back testing, reading between the candlesticks and even the use of a Ouija board - I have finally determined that the current state of the Price Action in the Eur/USD completely, totally and royally SUCKS!!! -

Therefore, I sit on the sidelines playing tittly winks until my Ouija board tells me otherwise.

SeerEye
All that is left in FF is just plain garbage. "Cloggie"
  • #7,916
  • Apr 30, 2008 2:25am Apr 30, 2008 2:25am
Quoting SeerEye
Through a very lengthy and detailed study of recent Price Action; historical data, back testing, reading between the candlesticks and even the use of a Ouija board - I have finally determined that the current state of the Price Action in the Eur/USD completely, totally and royally SUCKS!!! -

Therefore, I sit on the sidelines playing tittly winks until my Ouija board tells me otherwise.

SeerEye
Where would be a safe place to jump in - long or short?
Expected the unexpected
  • #7,917
  • Apr 30, 2008 2:28am Apr 30, 2008 2:28am
Quoting scyang
Where would be a safe place to jump in - long or short?
jump or dive at your own peril - I have no clue right now

SeerEye
Pip what you see; See what you pip!
  • #7,918
  • Apr 30, 2008 2:31am Apr 30, 2008 2:31am
i do,...i closed euro +22 pips overnight, and moved to cable,...its at devils...
its just money
  • #7,919
  • Apr 30, 2008 2:33am Apr 30, 2008 2:33am
G7 Froze this pair, nothing to see here!
  • #7,920
  • Apr 30, 2008 2:34am Apr 30, 2008 2:34am
Hi!
I'm again EU wacher as a EJ player. There are some nice long for today, so patience might be your best friend now.
I'm going to resurrect real EJ thread to not bother you anymore...
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