Dislikedapparently the gdp data is making this pair go insane...ahh i have no gauge of the market sentiment right now...it appears bullish but is it really?Ignored
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- #34,541
- Sep 26, 2008 7:56am Sep 26, 2008 7:56am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
- #34,542
- Sep 26, 2008 7:57am Sep 26, 2008 7:57am
- | Joined Aug 2008 | Status: Trader | 1,210 Posts
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Never sell @ lower upward channel unless breacked and vise versa .
- #34,543
- Sep 26, 2008 8:00am Sep 26, 2008 8:00am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
I think it will bounce back down after hitting the upper trend line of the channel. The overall channel is pointing down on the 3hr TF. So it will probably approach the upper TL and then bounce back down IMO.
Different opinions highly valued, ignorant to slander.
- #34,547
- Sep 26, 2008 8:16am Sep 26, 2008 8:16am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
connect those two highest spikes in the middle...you will see the high was already reached
- #34,549
- Sep 26, 2008 8:22am Sep 26, 2008 8:22am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
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.
I think what I wrote above will happen before we see it any lower than 1.4, if at all. We could also see a big triangle form with center around mid 1.4s later on. What you write is true but it's long-term. Medium term I believe we'll continue climbing back up more.
Who cares though, all this guessing is for entertainment purposes only..
On the path to Enrichment.
- #34,550
- Sep 26, 2008 8:29am Sep 26, 2008 8:29am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
Who cares though, all this guessing is for entertainment purposes only..
I think that immersion is a HUGE thing in trading from a technical (TA) point of view.
Because I hadn't traded in awhile (2 weeks because I was sick last week as well). I was always desperate to make a trade lol. Now after 12hrs of watching the charts some normality is setting in
- #34,552
- Sep 26, 2008 8:34am Sep 26, 2008 8:34am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
That's because everything was manipulated prior to the data-- all thisbullish EUR action was pure manipulation.
News comes out and low volatility = manipulation.
- #34,554
- Sep 26, 2008 8:37am Sep 26, 2008 8:37am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #34,557
- Sep 26, 2008 8:47am Sep 26, 2008 8:47am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Everything is manipulation, didn't you know?
Hey BTW in case you don't know - next scheduled FOMC meeting is not till Oct 29th. So fed funds market can change a lot between now and then. And as always the possibility of a surprise announcement in between meetings.
- #34,559
- Sep 26, 2008 8:48am Sep 26, 2008 8:48am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
