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  • #10,721
  • Jun 4, 2008 3:59pm Jun 4, 2008 3:59pm
i wonder why the whole day it ranges inside the 1.54xx area, will it shoot up or down from here...any comments?
  • #10,722
  • Jun 4, 2008 4:10pm Jun 4, 2008 4:10pm
anyone paying attention to Nzd/usd? Some amazing volatility!
  • #10,723
  • Jun 4, 2008 4:39pm Jun 4, 2008 4:39pm
Bulls and bears are about 50/50 in here - probably why the pair is in a tight range. Big money is staying out until ECB meeting tomorrow.

Quoting bustahoodz
i wonder why the whole day it ranges inside the 1.54xx area, will it shoot up or down from here...any comments?
"A goal without a plan is just a wish."
  • #10,724
  • Jun 4, 2008 4:43pm Jun 4, 2008 4:43pm
Quoting MackS10
anyone paying attention to Nzd/usd? Some amazing volatility!
I've never seen a 60M RSI so low... 16!
"A goal without a plan is just a wish."
  • #10,725
  • Jun 4, 2008 5:09pm Jun 4, 2008 5:09pm
The price has spent the entire day bouncing off that weekly support at 5408. Which way will it go?

Anybody got a coin?

Time travel machine?

Second sight?

  • #10,726
  • Jun 4, 2008 5:28pm Jun 4, 2008 5:28pm
Quoting SteveHopwood
The price has spent the entire day bouncing off that weekly support at 5408. Which way will it go?

Anybody got a coin?

Time travel machine?

Second sight?

I would comfort to say that the direction of this pair will 100% depend on its two fundamentals - Germany factory orders and ECB Trichet conference at 6:00 am and 7:45 am eastern time and until that time this pair will try level its best to consolidate US session range - 1.5420/1.5480 and somewhat in the upward direction within this frame so if you are very good in scalping few pips there or few pips here then you are most welcome. I am kind of away with this pair and G/U pair until its Halifax news would come out.\
  • #10,727
  • Jun 4, 2008 5:52pm Jun 4, 2008 5:52pm
Quoting FxChi
That's what I was playing since yesterday. I came in at 1.5450 and bailed this morning at 1.5470 as Gold was approaching it's .50 intraday fib retracement. It wasn't playing out as I thought so I figured I'd pick a better spot with it. Good luck - hope it works out for you.
Obviously hasn't worked out for me yet. Took a few scalps today but... still think the retrace will come. I think it may go as low as 5400 (WS-1 as Steve has been saying) before it runs back up to the 50 fib / 5 SMA area. I'll wait for it...
  • #10,728
  • Jun 4, 2008 5:57pm Jun 4, 2008 5:57pm
very interesting point right now, technicly and fundamentaly...--> clinton quting (+ other news tomorow),...here is my view on the elections vs dollar,...now its obama vs mccain,..if hillary would had the chance to candidate, i think the dollar should gain value,...but since obama won,..then its more likely that the market starts to price in mccain victory (which is dollar bearish 2 me),...but i hope he doesnt win...
its just money
  • #10,729
  • Jun 4, 2008 6:17pm Jun 4, 2008 6:17pm
Quoting Gandolf
Hasn't been a retrace to a meaningful fib level. I'm looking for a nice little move long before setting up some shorts.
But my opinion is that price will go test 1.5350/70 before new highs!
we may see 1.5700 again, but my bet it is for a high of only 1.5570/90.

Let's see!
  • #10,730
  • Jun 4, 2008 7:12pm Jun 4, 2008 7:12pm
Quoting cesarnc
Hope you had the time to borrow $100K to invest in that trade, full 400:1 leverage.

That's what I'd do if I was 100% sure of anything around here.
What the hell, let's make it a cool million .....
  • #10,731
  • Jun 4, 2008 7:50pm Jun 4, 2008 7:50pm
Ok the market is not really even moving, this has been a very weird day.
  • #10,732
  • Jun 4, 2008 8:01pm Jun 4, 2008 8:01pm
Yes it is very strange. Not many days like this one. Still holding onto my long position. What a bull trap last night dont you guys agree?
  • #10,733
  • Edited 8:35pm Jun 4, 2008 8:33pm | Edited 8:35pm
Quoting BoredToLoose
But my opinion is that price will go test 1.5350/70 before new highs!
we may see 1.5700 again, but my bet it is for a high of only 1.5570/90.

Let's see!
You may be right. That is 30-50 pips below what i was thinking. And you are 70-90 pips over what i was thinking.

Yesterday's low 5418
Weekly S1 5408
Daily S1 5407
Current Monthly low and Psych level 5400

Quite possible, but it is a good deal of support to breach. Also a channel bottom and Daily S2 at 5380.

Based on what is happening now... looks like your low might be closer.
  • #10,734
  • Jun 4, 2008 8:34pm Jun 4, 2008 8:34pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Very weird cable and euro dropping during Asian session . Whatever I'm waiting for a good set-up during all this madness. Good luck to everyone trading tonight. I'm not sure I trust bulls or bears right now. lol
"Wishful thinking dies hard." Igor T.
  • #10,735
  • Jun 4, 2008 8:42pm Jun 4, 2008 8:42pm
on the way back up, i'm going to take 90% of my position off at 5470 (Daily 5 SMA) which hopefully will happen during London while i am zzzzzzzzzzzzzzzzzzzzzzzzzz
  • #10,736
  • Jun 4, 2008 8:47pm Jun 4, 2008 8:47pm
Quoting FxChi
I found the pic randomly, but I have a name for him. He's called Mr. Grear (combination of fear and greed).
Currently battling your nemesis.
  • #10,737
  • Jun 4, 2008 8:55pm Jun 4, 2008 8:55pm
I think we will be testing 1.5250 this week.
Good run for me so far..
Short stack from 1.565 to 1.54 in 50 pip steps.
At 1.54 thats 750 pips over 6 entries.

Also long on $J.

Does anybody trade E$ and $J in opposite directions (I.E Sell E$, Buy $J)?
Been looking at it for a while and thought it would be interesting to try.
  • #10,738
  • Jun 4, 2008 8:56pm Jun 4, 2008 8:56pm
Quoting Fx_Genius
I think we will be testing 1.5250 this week.

Does anybody trade E$ and $J in opposite directions (I.E Sell E$, Buy $J)?
Been looking at it for a while and thought it would be interesting to try.
Yes, that works. Just going Long Dollar. Just went short EUr/USD 1.5390
  • #10,739
  • Jun 4, 2008 9:16pm Jun 4, 2008 9:16pm
Why short
  • #10,740
  • Jun 4, 2008 9:17pm Jun 4, 2008 9:17pm
Quoting kokolaymm
Why short
1.5390 was major support. Its break signals further EU losses. 1.5365 next support level. Pass that and we are looking at a test of 1.5300
"A goal without a plan is just a wish."
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