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EURUSD

  • #34,521
  • Sep 26, 2008 7:17am Sep 26, 2008 7:17am
Is it bouncing off the roof...?
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  • #34,522
  • Sep 26, 2008 7:22am Sep 26, 2008 7:22am
Do you think price still have somemore steam to reach that?

My guess is yes.

Lame I forgot about the news...
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  • #34,523
  • Sep 26, 2008 7:25am Sep 26, 2008 7:25am
Quoting traderathome
Are you kidding???!!!!! Less volatility and almost no news???? The first friday of each month we get the NFP release, nortoriously the most market moving of them all!!!!!

Well, let me rephrase that. The Big Players may not know what the release(s) will say, but they already know what direction they are going to take the price......as they say, "There is sometimes reason to change the price, but more often an excuse to do so!" And the resultant huge moves....how important are they as related to releases? Hardly at all. Just look at how many times within a few days, if not a few hours, the prices are right where they were before the releases!!!!!!!!!!!
If you take London session and US session and compare it, then in US session there are less news. During London there are news at (GMT+1) 07:00, 08:00, 08:30, 10:30, 11:00. During US only 13:30 and 15:00, sometimes 19:00. Hope you get what I mean

NFP is totally different thing.
  • #34,524
  • Sep 26, 2008 7:26am Sep 26, 2008 7:26am
Attached smaller timeframe M15 chart shows things are on hold for the 8:30am EST GDP release......
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  • #34,525
  • Sep 26, 2008 7:29am Sep 26, 2008 7:29am
8:30am ET we have US GDP Annulized, could be strong move protect positions, put Stops or break even,,,,
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  • #34,526
  • Sep 26, 2008 7:31am Sep 26, 2008 7:31am
Up 2.8% Bullish Dollar.

45 here we come
  • #34,527
  • Sep 26, 2008 7:33am Sep 26, 2008 7:33am
data comes out...no reaction...amazing....


you would think we would move more then 10 pips in one direction...
Different opinions highly valued, ignorant to slander.
  • #34,528
  • Sep 26, 2008 7:34am Sep 26, 2008 7:34am
Quoting psiholog
data comes out...no reaction...amazing....

That's because everything was manipulated prior to the data-- all thisbullish EUR action was pure manipulation.
  • #34,529
  • Sep 26, 2008 7:35am Sep 26, 2008 7:35am
i wanted to see some action (
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  • #34,530
  • Sep 26, 2008 7:36am Sep 26, 2008 7:36am
SL at 1.4664.

After 1.4550 rejection, 1.4750 may be next target.
  • #34,531
  • Sep 26, 2008 7:40am Sep 26, 2008 7:40am
everything is pointing me to a new black monday this monday.....
  • #34,532
  • Sep 26, 2008 7:40am Sep 26, 2008 7:40am
Quoting BoredToLoose
SL at 1.4664.

After 1.4550 rejection, 1.4750 may be next target.
i dont quite get your numbers but im in pending mode with a short
Different opinions highly valued, ignorant to slander.
  • #34,533
  • Sep 26, 2008 7:45am Sep 26, 2008 7:45am
Quoting psiholog
i dont quite get your numbers but im in pending mode with a short
I am short as well
  • #34,534
  • Sep 26, 2008 7:45am Sep 26, 2008 7:45am
Quoting psiholog
i dont quite get your numbers but im in pending mode with a short

Me too. The way I look at it, last night we had news of a possible failed bailout. Yet this pair made a new weekly low to 4555.
  • #34,535
  • Sep 26, 2008 7:46am Sep 26, 2008 7:46am
i am short too, trying to scalp some pips.. doesn't seems to wanna bounce though..
  • #34,536
  • Sep 26, 2008 7:48am Sep 26, 2008 7:48am
Quoting markus78
i am short too, trying to scalp some pips.. doesn't seems to wanna bounce though..
what is your target profit? Do you think it will go down to 1.4560?
  • #34,537
  • Sep 26, 2008 7:49am Sep 26, 2008 7:49am
Quoting Phalanx0904
what is your target profit? Do you think it will go down to 1.4560?
i have my eyes set lower...according to the triangle were in which magictrader pointed out...the lower wall is just around 1.4525/30

waiting though it could still break up...not likely though
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  • #34,538
  • Sep 26, 2008 7:54am Sep 26, 2008 7:54am
Quoting seesaw
Me too. The way I look at it, last night we had news of a possible failed bailout. Yet this pair made a new weekly low to 4555.
technically the weekly low is sunday when market opened but i know what you mean
Different opinions highly valued, ignorant to slander.
  • #34,539
  • Sep 26, 2008 7:54am Sep 26, 2008 7:54am
Quoting Algirdas
8:30am ET we have US GDP Annulized, could be strong move protect positions, put Stops or break even,,,,
From your blog you mention EURUSD in 1hr TF is at channel. I didn't know that. I thought price bounce up because it was previous low. Could channel have an impact on PA?

Uptrend in a bear flag means EUR is going up no?
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  • #34,540
  • Sep 26, 2008 7:56am Sep 26, 2008 7:56am
We've got stops built up below .4520.

Bulls will protect those... it won't last through next week but it may hold today.

Right now... it's all about the big B.

The markets will remain erratic until a package is passed or not.

Secondly - next week Trichet will have an opportunity to run his pie hole.

He needs to cut now... he won't... too much ego.

However... something to think about.

The European Central Bank should cut interest rates early next year if inflation pressures fall as expected, Europe's main business lobby group, BusinessEurope, said on Thursday. (READ - INFLUENTIAL)

'If there is no interest rate initiative taken by the central bank we would miss an opportunity to help growth and job creation,' BusinessEurope's president, Ernest-Antoine Seilliere, told reporters in Frankfurt before meeting ECB President Jean-Claude Trichet. (Do you think he asked Trichet to remain hawkish or dovish next week?)

Seilliere said he understood the ECB's need to keep inflation under control, but forecast that inflation pressures from raw material costs and wages were easing fast enough to allow the ECB to cut rates in early 2009.

'The euro exchange rate remains above the pain threshold for European companies. We welcome in this regard the statement of the Eurogroup President Jean-Claude Juncker that the euro is currently overvalued,' the organisation said.

Forecast: I haven't changed my LT forecast since d-day. The direction is down.
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