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  • #15,481
  • Jul 22, 2008 12:04am Jul 22, 2008 12:04am
Quoting scyang
How does USDCAD at parity help with USD rally?
It could... double bottom, strong support level, both tied with USd
  • #15,482
  • Jul 22, 2008 12:58am Jul 22, 2008 12:58am
Quoting Cdawg
Tough to call at the moment. I for 1 do not see what is going to make the pair drop till mabey thursday but then again, that could be bad news for the US as well.

I think the market sentiment will contiue to drive this a bit further north in my humble opinion. For me I will wait till the higher 1.597x+ to place a short, or wait for a "dip" (1.5830ish) to go long. Till then I'll just watch what happens
im agree,..
15977 is the strong ress of the last swing (0.764). 70 is the best entry to take a short.
how about the intraday target?
  • #15,483
  • Jul 22, 2008 1:08am Jul 22, 2008 1:08am
Quoting Clouds
dont know, usd/cad at parity, could help the usd rally get started
Ohh.... but that's not a good reason anyway.

It will go way below parity later
  • #15,484
  • Jul 22, 2008 1:11am Jul 22, 2008 1:11am
Quoting kirana
Attachment
Not bad, Kirana. The next time you upload the chart, tell us what your prediction is, based on the projected lines. Tell us the safety and risky position and how much of your certainty you willing to throw your money out there. Thanks from the Forex Factory community.
{Promotion Removed}
  • #15,485
  • Jul 22, 2008 1:13am Jul 22, 2008 1:13am
Quoting uncleforex
Ohh.... but that's not a good reason anyway.

It will go way below parity later
There are no reasons. Just buyers and sellers.
  • #15,486
  • Jul 22, 2008 1:41am Jul 22, 2008 1:41am
Quoting Clouds
There are no reasons. Just buyers and sellers.
I expect u/cad to go below 0.9900 soon. Before any up. Maybe might even reach 0.9700s this week or next.

Anyway I wish you all the best.
  • #15,487
  • Jul 22, 2008 1:46am Jul 22, 2008 1:46am
GM.

Possible bullish flag on 1hr tf. And we know that flags are short-term continuation patterns that mark a small consolidation before the previous move resumes. Watching carefully atm.
Attached Image (click to enlarge)
Click to Enlarge Name: euro_h1_bullflag_220708.gif Size: 34 KB
  • #15,488
  • Jul 22, 2008 1:49am Jul 22, 2008 1:49am
Quoting uncleforex
I just long e/u for 15pips up. Small scalp.

1.5925 for 1.5940

Just hit my TP.

Life is good.
  • #15,489
  • Jul 22, 2008 1:57am Jul 22, 2008 1:57am
Quoting uncleforex
Just hit my TP.

Life is good.
I'm a scalper. At this moment I'm getting ready to go short for 10-11 pips. I need to wait until I see more confirmation that the direction will be down though.
  • #15,490
  • Jul 22, 2008 2:04am Jul 22, 2008 2:04am
Quoting forexpert
Not bad, Kirana. The next time you upload the chart, tell us what your prediction is, based on the projected lines. Tell us the safety and risky position and how much of your certainty you willing to throw your money out there. Thanks from the Forex Factory community.
since the market goes correctively,..
we trade against the market.
those projection line is our equilibrium where the price should move. its help me to pic fibo ratio to entry.
my best entry on the corrective market is 75% and 25%.
im a newbie, hope all of you could help me.
  • #15,491
  • Jul 22, 2008 2:39am Jul 22, 2008 2:39am
Quoting uncleforex
I expect u/cad to go below 0.9900 soon. Before any up. Maybe might even reach 0.9700s this week or next.

Anyway I wish you all the best.
I can't agree. There's been 8 weeks that parity has held as support. I hope you have some patience.
  • #15,492
  • Jul 22, 2008 2:57am Jul 22, 2008 2:57am
Quoting belekas
GM.

Possible bullish flag on 1hr tf. And we know that flags are short-term continuation patterns that mark a small consolidation before the previous move resumes. Watching carefully atm.

Gold is with you... It's taken off the past few hours while the EU has been held down so it shouldn't be long before the EU follows suit.
  • #15,493
  • Jul 22, 2008 3:05am Jul 22, 2008 3:05am
Quoting mmccormac
Gold is with you... It's taken off the past few hours while the EU has been held down so it shouldn't be long before the EU follows suit.
Gold resistance at 975$, 3 dollars away
  • #15,494
  • Jul 22, 2008 3:07am Jul 22, 2008 3:07am
Quoting Clouds
Gold resistance at 975$, 3 dollars away

Right, so it should be breaking out soon.
  • #15,495
  • Jul 22, 2008 3:16am Jul 22, 2008 3:16am
Quoting uncleforex
Hopefully all those previous spike downs were bear traps HEHE. 1.59 here we come again.

HEHE
uncleforex speaks about bear traps
yesterday.
  • #15,496
  • Jul 22, 2008 3:30am Jul 22, 2008 3:30am
I sold eur/usd at the top of current channel / wedge, 1.5935. One has to scalp this idiot sideways market to stay alive. I hope we'll see some action today because I'm getting tired of this ugly environment.
  • #15,497
  • Jul 22, 2008 3:35am Jul 22, 2008 3:35am
Quoting MarkGavalda
I sold eur/usd at the top of current channel / wedge, 1.5935. One has to scalp this idiot sideways market to stay alive. I hope we'll see some action today because I'm getting tired of this ugly environment.
infact i am so bored, fraustrated and annoyed with this ugly ranging of eurusd. cant it just go away from this stupid ranging area of 1.5800-1.6000 ? where are the carry traders ? let them push the hell out of this pair down ? its disgusting me!
know thy edge and abide by it ! 4 in it shall thou be successful !
  • #15,498
  • Jul 22, 2008 3:38am Jul 22, 2008 3:38am
Amused by all reactions on a 30pip break out of rangebound (1.58 - 1.59)...which has been consolidated since it happened..(yesterday US session close)

Consolidation seems the right word, signs of a weaker economy for EUR and signs of a possible recovery combined with "its not as bad as we initially estimated" for the USD, makes central banks & large investment funds "control" a market where sentiment is divided...

Technically EUR could have made the break above 1.6 with ease over the last days...it has not happened...ask yourself the question...WHY?

Since EUR has reached a new high, DJI makes largest gains this year (read strength for USD), OIL makes largest drop since 2005 ( read strength for USD)....Worldwide there is consensus...No need for a stronger EUR, No need for currently still way to high Oil prices...

IMO there is no support to push the EUR up further and set new levels above 1.6...Market is consolidating and waiting for the correctional move to come...

This cant be done by the likes of private traders...we are small cattle in the financial world...its the central banks & investment funds who will pull the trigger...once sentiment reaches "consensus" about direction...

Just my 2 cents...
  • #15,499
  • Jul 22, 2008 3:41am Jul 22, 2008 3:41am
Quoting Shadowfx
Amused by all reactions on a 30pip break out of rangebound (1.58 - 1.59)...which has been consolidated since it happened..(yesterday US session close)

Consolidation seems the right word, signs of a weaker economy for EUR and signs of a possible recovery combined with "its not as bad as we initially estimated" for the USD, makes central banks & large investment funds "control" a market where sentiment is divided...

Technically EUR could have made the break above 1.6 with ease over the last days...it has not happened...ask yourself the question...WHY?

Since EUR has reached a new high, DJI makes largest gains this year (read strength for USD), OIL makes largest drop since 2005 ( read strength for USD)....Worldwide there is consensus...No need for a stronger EUR, No need for currently still way to high Oil prices...

IMO there is no support to push the EUR up further and set new levels above 1.6...Market is consolidating and waiting for the correctional move to come...

This cant be done by the likes of private traders...we are small cattle in the financial world...its the central banks & investment funds who will pull the trigger...once sentiment reaches "consensus" about direction...

Just my 2 cents...
Very much agree. Nice summation.
  • #15,500
  • Jul 22, 2008 3:41am Jul 22, 2008 3:41am
totally agree with you guys. It isn't easy scalping at the moment. I'm with an open short position at -16pips. The resistance level there is what punched the bulls in the head lol. (temporarily)
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