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EURUSD

  • #19,181
  • Aug 10, 2008 8:16pm Aug 10, 2008 8:16pm
time nice for long EURUSD
  • #19,182
  • Aug 10, 2008 8:16pm Aug 10, 2008 8:16pm
Quoting auxesis
There are no real gaps in the forex market as it is a continuous market 24/7 , now there my be a gap on someone's chart because the platform or broker is not open for business and there are times of inactivity over the weekends, but for price to change money is moving.
Yes, but if activity occurs from NY close on Friday to Sydney open on Monday (Sunday EST), it can be considered a gap.
  • #19,183
  • Aug 10, 2008 8:21pm Aug 10, 2008 8:21pm
10 pips more and Take 1/4 profit, move stops to Entry, ,,,,,,,,see you tommorow in US sesion

http://2.bp.blogspot.com/_nmIuQsC9b-...ver+eur111.png
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  • #19,184
  • Aug 10, 2008 8:24pm Aug 10, 2008 8:24pm
Quoting NuckingFuts
Yes, but if activity occurs from NY close on Friday to Sydney open on Monday (Sunday EST), it can be considered a gap.
Good point, but wouldn't that indicate transfers off hours intrabank. There are platforms that allow trading over the weekends albeit large spreads. I have always considered gaps when an instrument opens at a different price the next session when there's no way to fill orders.

jmho.
  • #19,185
  • Aug 10, 2008 8:24pm Aug 10, 2008 8:24pm
Quoting NuckingFuts
That's not correct, any support/resistance level that is broken automatically becomes the opposite.



There is no gap.

Don't know what you are looking at I have a gap from 1.5009 to 1.4950 area. I'm not just seeing things here futs.
  • #19,186
  • Aug 10, 2008 8:25pm Aug 10, 2008 8:25pm
Quoting forexpert
I agree with David Woo; $ will be weakened compared to Euro by the 4th Qtr of this year.
Yeah... Read Barclays (Heavily overweight on the long side of this pair)

He's the head strategist for one of the largest banks in London.

I'm barely the head of my household.

Let's see who is closer come December.

I see it at .4370.





David Woo, head of currency strategy in London at Barclays, disagrees. ``The euro-dollar market is in an overshoot territory,'' he said. Barclays, the world's third largest currency trader, according to an annual survey by Euromoney magazine, expects the dollar to weaken to $1.57 per euro by year-end.
  • #19,187
  • Aug 10, 2008 8:28pm Aug 10, 2008 8:28pm
Quoting steelhead
Don't know what you are looking at I have a gap from 1.5009 to 1.4950 area. I'm not just seeing things here futs.
Your broker obviously closed before NY session finished on Friday, mine did not.

There was no activity between NY close and Aussie open... So there is no weekend gap
  • #19,188
  • Aug 10, 2008 8:28pm Aug 10, 2008 8:28pm
Quoting acumen
Yeah... Read Barclays (Heavily overweight on the long side of this pair)

He's the head strategist for one of the largest banks in London.

I'm barely the head of my household.

Let's see who is closer come December.

I see it at .4370.


David Woo, head of currency strategy in London at Barclays, disagrees. ``The euro-dollar market is in an overshoot territory,'' he said. Barclays, the world's third largest currency trader, according to an annual survey by Euromoney magazine, expects the dollar to weaken to $1.57 per euro by year-end.
December I see it at range of 1.4250-1.5000, but its a while away
  • #19,189
  • Aug 10, 2008 8:31pm Aug 10, 2008 8:31pm
Quoting Clouds
December I see it at range of 1.4250-1.5000, but its a while away
I think you are going to be very close on that range.
  • #19,190
  • Aug 10, 2008 8:45pm Aug 10, 2008 8:45pm
Quoting steelhead
Don't know what you are looking at I have a gap from 1.5009 to 1.4950 area. I'm not just seeing things here futs.
OANDA is one broker that is open throughout the entire weekend. As you can see below there is no weekend gap between NY close and Aussie open.
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  • #19,191
  • Aug 10, 2008 8:58pm Aug 10, 2008 8:58pm
  • #19,192
  • Aug 10, 2008 9:03pm Aug 10, 2008 9:03pm
Quoting acumen
I think you are going to be very close on that range.
just following current trend is enough,predicting future is not helping you trading better.
  • #19,193
  • Aug 10, 2008 9:07pm Aug 10, 2008 9:07pm
Quoting prosperous

North yes oil is up $1 tonight .... weakening usd.

The EU should test 1.5300 ish then see what happens from there.

On the 10 min we seem to be on a very shallow flag and the bears are well and truely trapped .... If this pair breaks 1.5000 we could get a very fast move back into 1.5050 as short rush to cover
Blogging daily now at www.volume.zone
  • #19,194
  • Aug 10, 2008 9:07pm Aug 10, 2008 9:07pm
Quoting prosperous

We've seen serious movement and the first real session is still 4 hours from starting.

If we are heading North I would expect another test of .4920 and possibly .4900.

At this point... with no market moving news in the near term we may move into a range.

These are all just guesses of course.

I wouldn't buy now though.
  • #19,195
  • Aug 10, 2008 9:12pm Aug 10, 2008 9:12pm
Quoting moneybookers
just following current trend is enough,predicting future is not helping you trading better.

really that statements depends on what time frame you trade and how you trade . On a 10 min chart gbpjpy today you could have traded down for 120 and then up for 120 .....

This kind of reversal often happens on the majors to .. look at gu .. down 100 then up 90

I always try to have a plan .. that is predicting the future of sorts. I posted in this room earlier if gu and eu break down the bear flag on 10 min charts ej and gj going to move down 50 pips. The plan worked bang on.

I also had a plan for trading the eurjpy on a break down of 165.30 today if it broke the bullish div on the 15 min

Without a plan when the market is moving fast you are like a deer in the headlights. So in some regards you do have to guess the future ... just do not get married to one direction or the other
Blogging daily now at www.volume.zone
  • #19,196
  • Aug 10, 2008 9:14pm Aug 10, 2008 9:14pm
Quoting moneybookers
just following current trend is enough,predicting future is not helping you trading better.
Not looking for advice.

If we can project where the price may be - we often find it easier to plan our trading strategy.

I didn't start prognosticating moves... someone posted Woo's unbiased (LOL) analysis... I just added my 2 cents.
  • #19,197
  • Aug 10, 2008 9:15pm Aug 10, 2008 9:15pm
Quoting acumen
We've seen serious movement and the first real session is still 4 hours from starting.

If we are heading North I would expect another test of .4920 and possibly .4900.

At this point... with no market moving news in the near term we may move into a range.

These are all just guesses of course.

I wouldn't buy now though.

It looks like bear flag on 10 min charts , trapped by 1.5000 for now. Waiting for a breakdown of the flag at 1.4920 , or a break out of 1,5000 would be a better trade

Now the breakout of 1.5000 could be a trap also so if you get 25 pips profit move stop to break even. Worst that happens you get stopped out at breakeven
Blogging daily now at www.volume.zone
  • #19,198
  • Aug 10, 2008 9:16pm Aug 10, 2008 9:16pm
Quoting acumen
Not looking for advice.

If we can project where the price may be - we often find it easier to plan our trading strategy.

I didn't start prognosticating moves... someone posted Woo's unbiased (LOL) analysis... I just added my 2 cents.
Great point !!!
Blogging daily now at www.volume.zone
  • #19,199
  • Aug 10, 2008 9:34pm Aug 10, 2008 9:34pm
Quoting Jurrasic
Poor bulls, where are they all now ?
I do love a good steak.

Keep moving that stop - we are getting ready to bounce.

No - that wasn't sarcasm - this time we really may see a bounce.
  • #19,200
  • Aug 10, 2008 9:37pm Aug 10, 2008 9:37pm
Quoting acumen
He's the head strategist for one of the largest banks in London.

I'm barely the head of my household.
know that feelin....
FUBAR...
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