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  • #48,341
  • Dec 4, 2008 9:33am Dec 4, 2008 9:33am
Quoting Skoozy
Can someone, any body please give me a idea of why the EUR/USD pair continue to go north even after the cut in the interest rates, please?
I have to agree with SpecialEd. This last moths is equity driven market. Another point to see is the rate cut already predicted well before. Profit taking may push EURUSD higher. If you see EURUSD in Asia session before the cut you'll see it went lower as a sign the sellers are in. When the rate cut come, they're out.

Just my though as a newbie
Manage your risk accordingly and you're half done your home work.
  • #48,342
  • Dec 4, 2008 9:34am Dec 4, 2008 9:34am
Quoting SpecialEd
Dow is actually DOWN 35 points.
Look at what it did at Open though 60 mins ago..

It went up for 30-35 mins along with EU DOW went up 150 points.

Looking a bit closer at 5M charts side by side.. I do see that EU actually started moving up first though. Past 30 mins both have been in a range favoring the downside slightly.
  • #48,343
  • Dec 4, 2008 9:51am Dec 4, 2008 9:51am
[quote=Dansnali;2396450]Look to the DOW

Stock market has been going up dragging EU with it..

Also Rate cuts are usually priced in well in advance for the most part.[/Traders sold off at the knowledge of the interest rate cut so when that happens it only becomes old news because people knew about long before it happened and they prepared for it.exciting news are the ones we never knew of
All the best things in life are free.
  • #48,344
  • Dec 4, 2008 9:56am Dec 4, 2008 9:56am
Can anybody explain what is going on? Why we are moving north when ECB interest rate cut was more than expected?

I still hold 1.2602 short position But I start to thing about taking loss.
  • #48,345
  • Dec 4, 2008 9:57am Dec 4, 2008 9:57am
2770 ish will be hard to blast through

edit: yesterday's high is resistance now though
  • #48,346
  • Dec 4, 2008 9:58am Dec 4, 2008 9:58am
Quoting chuvaki
Can anybody explain what is going on? Why we are moving north when ECB interest rate cut was more than expected?

I still hold 1.2602 short position But I start to thing about taking loss.
that question was just answered.. The DOW is climbing right now and EU and EJ are going up with it
  • #48,347
  • Dec 4, 2008 10:02am Dec 4, 2008 10:02am
Quoting Dansnali
that question was just answered.. The DOW is climbing right now and EU and EJ are going up with it

.... just as we saw few days ago Dow gaining lot of points and Euro drop like a rock!

Correlation are a mess lately.
  • #48,348
  • Dec 4, 2008 10:02am Dec 4, 2008 10:02am
Must admit this is a strong bull run, Ive under estimated the DJI to gain this much for the third day in a row...
1.2738 is Monthly Pivot, R1 is at 1.27718

In between has proven great resistance in the last days...

IMO this is going to drop soon...but I'm keeping a very watchful eye on the DJI...

Just my 2 cents..
  • #48,349
  • Dec 4, 2008 10:06am Dec 4, 2008 10:06am
How can one know the interest rates even before they are announced.It seems like this is likely really priviledged info. for a priviledged few. Not fair. Luckily, I did not sell at that point.[quote=fx_lane;2396534]
Quoting Dansnali
Look to the DOW

Stock market has been going up dragging EU with it..

Also Rate cuts are usually priced in well in advance for the most part.[/Traders sold off at the knowledge of the interest rate cut so when that happens it only becomes old news because people knew about long before it happened and they prepared for it.exciting news are the ones we never knew of
  • #48,350
  • Dec 4, 2008 10:09am Dec 4, 2008 10:09am
Quoting Shadowfx
Must admit this is a strong bull run, Ive under estimated the DJI to gain this much for the third day in a row...
1.2738 is Monthly Pivot, R1 is at 1.27718
Yesterday's high was 2741
4 HR TL 2770
Dec HH 2768

Those two R's are going to need +10% DOW to break

edit: I was wrong...this is a POWERFUL move up...without the DOW
  • #48,351
  • Dec 4, 2008 10:13am Dec 4, 2008 10:13am
Yes, it certainly looks like the E/U has bounced off yesterdays high to the pip. Lets watch and see what happens
  • #48,352
  • Dec 4, 2008 10:13am Dec 4, 2008 10:13am
Quoting Shadowfx
Must admit this is a strong bull run, Ive under estimated the DJI to gain this much for the third day in a row...
1.2738 is Monthly Pivot, R1 is at 1.27718

In between has proven great resistance in the last days...

IMO this is going to drop soon...but I'm keeping a very watchful eye on the DJI...

Just my 2 cents..
Believe it or not, that inside bar after Trechet got it going. He did about half of with his answers and then HardHead's inside did the rest. I'll have to remember that.
Up or down, gimme a ticket
  • #48,353
  • Dec 4, 2008 10:14am Dec 4, 2008 10:14am
Give it 5 minutes and it should be retested. The small hammer on the M1 may prove significant
  • #48,354
  • Dec 4, 2008 10:15am Dec 4, 2008 10:15am
Quoting Dansnali
that question was just answered.. The DOW is climbing right now and EU and EJ are going up with it
Thanks guys for answering my question. As you understood I am a newbie here. Could you please tell me what other indicators do you use except technical analysis of currency charts? ... By now I know that you keep an eye on DJ, oil and gold... What else?
  • #48,355
  • Dec 4, 2008 10:15am Dec 4, 2008 10:15am
Wooops just broken
  • #48,356
  • Dec 4, 2008 10:16am Dec 4, 2008 10:16am
holy...look at these bulls haha

  • #48,357
  • Dec 4, 2008 10:21am Dec 4, 2008 10:21am
I posted this chart quite some hours ago......the game is afoot!
Attached Image (click to enlarge)
Click to Enlarge Name: eu 4hour #2 on 12-04-2008.gif Size: 67 KB
  • #48,358
  • Dec 4, 2008 10:22am Dec 4, 2008 10:22am
Ok...what's next?
  • #48,359
  • Dec 4, 2008 10:23am Dec 4, 2008 10:23am
Next is Nov high 2813
  • #48,360
  • Dec 4, 2008 10:24am Dec 4, 2008 10:24am
Some of us have been waiting too long for this breakout.. cheers!
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