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  • #9,801
  • May 23, 2008 3:58am May 23, 2008 3:58am
Quoting FxChi
For double post, but bored waiting for Euro. See below chart for the important Gold resistance level which if it breaks will bring Euro with it. Also notice we have a potential head and shoulders pattern, so another reason why it's important for this level to break.

sooner or later it will
i think today we will see 1.5870 area after the us news
its my view not a call
  • #9,802
  • May 23, 2008 4:06am May 23, 2008 4:06am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting warta
sooner or later it will
i think today we will see 1.5870 area after the us news
its my view not a call
Damn I'm going to have to wait till the news....
"Wishful thinking dies hard." Igor T.
  • #9,803
  • May 23, 2008 4:09am May 23, 2008 4:09am
EUR is stable, don't expect tiny EU-news to bring the EUR/USD off the course. The ECB made it clear that price stability is the main topic. The EUR is used in many European countries, which have vast economic differences. You can't compare Germany's economy with the one of Slovenia. ECB isn't that free in setting interest rates as the FED is, because it has to set a level, which is appropriate for all countries in the EUR-Zone. That's why the only thing that can bring the EUR/USD lower is dollar strenght and not euro weakness.
  • #9,804
  • May 23, 2008 4:17am May 23, 2008 4:17am
Hey i got eur @ 1.5750 (buy) and u really cant tell now, so any ideas on whats going on with eur, u guys see it going up or down?
  • #9,805
  • May 23, 2008 4:18am May 23, 2008 4:18am
Quoting zxr
Hey i got eur @ 1.5750 (buy) and u really cant tell now, so any ideas on whats going on with eur, u guys see it going up or down?
up... eventually Currently in from 5732
  • #9,806
  • May 23, 2008 4:21am May 23, 2008 4:21am
Quoting zxr
Hey i got eur @ 1.5750 (buy) and u really cant tell now, so any ideas on whats going on with eur, u guys see it going up or down?
i think the price is between a strong R/S levels , only the us news can set the direction
i think we will see the price ranging between 700 and 740 till the news
its my view only
  • #9,807
  • May 23, 2008 4:31am May 23, 2008 4:31am
Quoting warta
i think the price is between a strong R/S levels , only the us news can set the direction
i think we will see the price ranging between 700 and 740 till the news
its my view only
Agreed it'll range till near the news, but I doubt the news will make it move much either, maybe a small range break - it's Friday anyway. Next week though could start with a nice upwards break..
On the path to Enrichment.
  • #9,808
  • May 23, 2008 4:34am May 23, 2008 4:34am
Quoting Jurrasic
Agreed it'll range till near the news, but I doubt the news will make it move much either, maybe a small range break - it's Friday anyway. Next week though could start with a nice upwards break..
For some reason, i'm seeing 1.50 in near future..may be in June ECB gonna cut rates
  • #9,809
  • May 23, 2008 4:38am May 23, 2008 4:38am
Quoting Srikanth
For some reason, i'm seeing 1.50 in near future..may be in June ECB gonna cut rates
I thought they said not until december for the possible rate cut
  • #9,810
  • May 23, 2008 4:40am May 23, 2008 4:40am
Quoting Srikanth
For some reason, i'm seeing 1.50 in near future..may be in June ECB gonna cut rates
And why would they want to do that ?
  • #9,811
  • May 23, 2008 4:43am May 23, 2008 4:43am
Quoting Srikanth
For some reason, i'm seeing 1.50 in near future..may be in June ECB gonna cut rates
can u show us the reason please?
  • #9,812
  • May 23, 2008 4:51am May 23, 2008 4:51am
ECB FOCUS-oil surge may scupper 2008 ECB rate cuts..

I believe technicals more than news..
  • #9,813
  • May 23, 2008 4:57am May 23, 2008 4:57am
For what it is worth, it looks as though I might get my bounce off 1.5961 - the pending buy is set at 1.5755.

If it fills and is successful, I shall jump the sl every 30 pips until it eventually stops out.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
  • #9,814
  • May 23, 2008 5:05am May 23, 2008 5:05am
Still time to position. Market is being generous today. Giving lots of opportunities to set up as we build value. GET LONG!


Quoting DownRiverTrader
I am still long from earlier in the month below the 1.53 level. Here's where I am now.....

********************************************************

The Euro came just a few points shy of the 1.5820 level early in the European session and was met with some heavy supply which sent it all the way back down to the ADV level of 5717. We finished the day just above this level. It is important to understand the significance of this level. The next major move will come from here. Either up or down and if you are position trader like me then now is an ideal time to position for the next leg. We may spend some more time building value at this level so be patient and stay on the correct side of the move.

I continue to hold longs until proven wrong. New long positions can be established now as the market is giving you the 5717 level. Target 5820. If this level breaks, target 5923.

If we begin to build value under the ADV level of 5717, I would exit my long positions and wait for the market to give me 5717 and set up shorts down to 5566.


http://www.morrisfunds.com/storage/f...05.23.2008.PNG

  • #9,815
  • May 23, 2008 5:16am May 23, 2008 5:16am
wow, dis cud b tricky, either it shoots up or drop like a rock to d bottom, any1 guess really...
  • #9,816
  • May 23, 2008 6:54am May 23, 2008 6:54am
My pending buy at 1.5755 off the bounce from 1.5631 just filled, so let's see where it rides now.

  • #9,817
  • May 23, 2008 7:12am May 23, 2008 7:12am
lol i got a buy order @ 1.5750 and im really scared from the news, any idea's on whats gonna happen is it gonna go up or down
  • #9,818
  • May 23, 2008 7:16am May 23, 2008 7:16am
Quoting zxr
lol i got a buy order @ 1.5750 and im really scared from the news, any idea's on whats gonna happen is it gonna go up or down
If you are so unsure of the markets direction then WHY would you have an open trade?
Don't chase the market, Let the market come to you
  • #9,819
  • May 23, 2008 7:37am May 23, 2008 7:37am
Watch the 5765 level closely. This has the potential to reverse direction. If we get thru this level, then the next intraday target is 5877. Stay long.
  • #9,820
  • May 23, 2008 7:45am May 23, 2008 7:45am
Bro even if the news is good today it will be bad tomorrow so i wouldn't even worry about the trade. Hold position if you can. Closed one of my longs for 34 pip profit, other long currently running.
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