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Daily EUR/JPY analysis

  • #1,201
  • Aug 5, 2008 6:17am Aug 5, 2008 6:17am


nicve trading my friend, Iám just home for 30 min lunch,
have to go now...

Nice trading.
  • #1,202
  • Aug 5, 2008 6:22am Aug 5, 2008 6:22am
Equities, futures, everything is positive in europe...how come it still going down
Buying Tops, Selling dips xP
  • #1,203
  • Aug 5, 2008 7:10am Aug 5, 2008 7:10am
humm time to go up ? ISM Non-Manufacturing Composite will decide or not?
  • #1,204
  • Aug 5, 2008 7:49am Aug 5, 2008 7:49am
Quoting robrub
humm time to go up ? ISM Non-Manufacturing Composite will decide or not?
Good news sends euro down
Buying Tops, Selling dips xP
  • #1,205
  • Aug 5, 2008 8:03am Aug 5, 2008 8:03am
Quoting Empyrium
Equities, futures, everything is positive in europe...how come it still going down
because of yesterdays inverted hammer or so called pin bar on eur/usd
yesterday.

The candles are expression of what the market is thinking.
  • #1,206
  • Aug 5, 2008 8:55am Aug 5, 2008 8:55am
there's no one discuss in this topic....lets discuss it together...i think it's the best time to buy now...
  • #1,207
  • Aug 5, 2008 9:15am Aug 5, 2008 9:15am
Quoting faizfakhirin
there's no one discuss in this topic....lets discuss it together...i think it's the best time to buy now...
based on what fundis or technicals in your point of view please ?

And on which timeframe ?
  • #1,208
  • Aug 5, 2008 9:20am Aug 5, 2008 9:20am
The 1H did show a reversal setup at 9am, but this could just be a quick retracement before we continue short. I think there is some basis to it though, as we're at the 100% fib retracement and bottom of the channel.
  • #1,209
  • Aug 5, 2008 10:24am Aug 5, 2008 10:24am
Quoting Mets
The 1H did show a reversal setup at 9am, but this could just be a quick retracement before we continue short. I think there is some basis to it though, as we're at the 100% fib retracement and bottom of the channel.
I am on the short..since it can't break 16740 lvl...

sonic
  • #1,210
  • Aug 5, 2008 10:43am Aug 5, 2008 10:43am
my 4 h candle closes in ~ 1,5 hours, I will decide then, if and in which direction I´ll enter a trade.

Also keep in mind the FED rate decission ~2 hours, which might effect
this pair too:

http://www.forexfactory.com/news.php?do=news&id=99089
  • #1,211
  • Aug 5, 2008 12:54pm Aug 5, 2008 12:54pm
so guys, a few minutes left for usd rate decission, what
do you think, where will it go ?
  • #1,212
  • Aug 5, 2008 12:55pm Aug 5, 2008 12:55pm
Quoting peaches
so guys, a few minutes left for usd rate decission, what
do you think, where will it go ?

UnChanged at 2.00% but hawkish comments to imply a hike next quarter resulting in further rally of the dollar.

Btw: Nice Analysis last week peaches right on the mark.

Hows life treating you? ... Back from Work?
  • #1,213
  • Aug 5, 2008 1:01pm Aug 5, 2008 1:01pm
Hi,

poweredbuyer, yes, I have only time for trading dduring late new york and early asian session, thats not good for trading. But give it a bit time, I´ll make trading for a living

No bad news are good news for the dollar, I also expexting a bullish dollar rally in a few minutes (means eur/usd down).

e/j may fall further by this news.





Quoting poweredbuyer
UnChanged at 2.00% but hawkish comments to imply a hike next quarter resulting in further rally of the dollar.

Btw: Nice Analysis last week peaches right on the mark.

Hows life treating you? ... Back from Work?
  • #1,214
  • Aug 5, 2008 1:20pm Aug 5, 2008 1:20pm
Fed definitely going to keep interest rate @ 2%...but there was talk of votes pushing it higher...either scenario will push the dollar higher...resulting in the above posters' sentiments. How far will EUR/JPY fall (since this is the EUR/JPY) room...probably down to 166.75 or lower within a few hours, if not within the first. Feel sorry for people that went long this morning.
  • #1,215
  • Aug 5, 2008 1:20pm Aug 5, 2008 1:20pm
now so what ?
  • #1,216
  • Aug 5, 2008 1:22pm Aug 5, 2008 1:22pm
I missed going short in the 50s...but going to try to get in mid 40s.
  • #1,217
  • Aug 5, 2008 1:26pm Aug 5, 2008 1:26pm
Quoting rainingpips
Fed definitely going to keep interest rate @ 2%...but there was talk of votes pushing it higher...either scenario will push the dollar higher...resulting in the above posters' sentiments. How far will EUR/JPY fall (since this is the EUR/JPY) room...probably down to 166.75 or lower within a few hours, if not within the first. Feel sorry for people that went long this morning.
Just because the dollar goes up doesn't mean the EJ will fall, there's no correlation. There is coronation when the USD and certain other currencies move, but you can't assume a connection between the USD and the EJ alone.
  • #1,218
  • Aug 5, 2008 1:29pm Aug 5, 2008 1:29pm
Quoting Mets
Just because the dollar goes up doesn't mean the EJ will fall, there's no correlation. There is coronation when the USD and certain other currencies move, but you can't assume a connection between the USD and the EJ alone.
There is not a "direct" correlation per se, however under these particular market conditions, Euro is the dominant factor dictating the direction of EUR/JPY. With a stronger dollar vs. euro, this depresses the value of virtually all the majors with Euro as basis.
  • #1,219
  • Aug 5, 2008 1:30pm Aug 5, 2008 1:30pm
Quoting Mets
Just because the dollar goes up doesn't mean the EJ will fall, there's no correlation. There is coronation when the USD and certain other currencies move, but you can't assume a connection between the USD and the EJ alone.
I would not say "no correlation", on daily its 50 % and 1h 70 %

http://www.mataf.net/en/forex/tradin...elation/table/

OK, flipping a coin is saver
  • #1,220
  • Aug 5, 2008 1:33pm Aug 5, 2008 1:33pm
Quoting robrub
now so what ?
lets see and wait :-)

a few hours left for daily close for my broker, there is a pin bar developing on the 4 h, but we need a close in ~ 2,5 hours...
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