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EURUSD

  • #50,001
  • Dec 12, 2008 6:53am Dec 12, 2008 6:53am
My 1 hour still moving north but short term may be headed south for a little/not fully confirmed just yet
  • #50,002
  • Dec 12, 2008 6:55am Dec 12, 2008 6:55am
http://online.wsj.com/article/SB1229...ml?mod=testMod

Quoting Chicky
Thanks. I will try to find Wall Street Journal in this remote part of Africa - in addition to investigating a petty fraud allegation against a local person.
  • #50,003
  • Dec 12, 2008 6:57am Dec 12, 2008 6:57am
Smart move...Prelim Consumer Sentiment is positive...what a coincidence..
  • #50,004
  • Dec 12, 2008 7:01am Dec 12, 2008 7:01am
Quoting Chicky
Give us a weblink before you shut your computer down.
Sorry not to give you sooner, I was out for some time.
  • #50,005
  • Edited 7:09am Dec 12, 2008 7:06am | Edited 7:09am
Quoting personalme
So tell me where it may go with a good reason. I don't have a crystal ball here. With contradicting US PPI & Retail Sales, Bailout rejection, and resistance @1.3400. Every assumption is hindered with the others. The chance is 50:50 either for up or down. It will be much better i think if the price break 1.34.

With EUR $246B stimulus plan and worse US autos bailout, it takes enough steam to bring it higher.

But now, I'll wait.
There is news, again a new news, yet again a newer news ....... . Honestly, I have no crytal ball either, no one does. But I only look for retraces after a big break and therefore expect a retrace after watching pa move from below 1.2950 to just above 1.3400. I waited until it got to 1.3400, one may also wait for it to touch 1.3500. Human psychology limits keeping postion beyond that round figure, at least temporarily. Therefore, I am of the opinion of going short from 1.34 to 1.35, then wait - not before taking a position. I am no saint, and therefore may be wrong.
The Thief of Wall Street
  • #50,006
  • Dec 12, 2008 7:06am Dec 12, 2008 7:06am
Quoting BoredToLoose
50billion fraud in USA.

WOW, I think I am going to shut down my PC

hehe.. I think it is the best to shut down and go elsewhere
I'm 2% up today. and I'm not going to give it back this afternoon... Maybe on monday.. heh.
  • #50,007
  • Dec 12, 2008 7:10am Dec 12, 2008 7:10am
Chicky I assume you meant going long from 1.34 to 1.35, than short ...
-----

We're now almost 12 hours in the same range, there's a trend up, but resistance as been strong...

Nothing else to do for me as most of you do, wait in the sidelines until it screams, whatever way that'll be, just move god damnit!
Traders are smartasses
  • #50,008
  • Dec 12, 2008 7:11am Dec 12, 2008 7:11am
Too much of bad things around and so far, the Euro survived. It`s time for the Euro to give back the gains... It`s Top heavy out there! (like a bed of pins)
  • #50,009
  • Dec 12, 2008 7:14am Dec 12, 2008 7:14am
GBP dropping like a brick...
  • #50,010
  • Dec 12, 2008 7:18am Dec 12, 2008 7:18am
they want close over 3357.. and if so... sunday evening we probably see a gap up
The best thing that can happen to you is to find out where you're wrong.
  • #50,011
  • Dec 12, 2008 7:18am Dec 12, 2008 7:18am
Quoting Shadowfx
GBP dropping like a brick...

At this rate Euro will reach parity with GBP before it breaks or falls from current range...
Traders are smartasses
  • #50,012
  • Dec 12, 2008 7:19am Dec 12, 2008 7:19am
Quoting Shadowfx
GBP dropping like a brick...
Gyahahaa it ate my stop just in few minutes. Another up for EURGBP.
Manage your risk accordingly and you're half done your home work.
  • #50,013
  • Dec 12, 2008 7:23am Dec 12, 2008 7:23am

Guys,


at 3361 I brought my puppies in safe haven.


For this week just so.


I wish you a good weekend

The best thing that can happen to you is to find out where you're wrong.
  • #50,014
  • Dec 12, 2008 7:24am Dec 12, 2008 7:24am
USD has gained some strength..
EUR V GBP just reached new high, nearly 0.9
No break out follow up as of yet..DJI pretty stable after opening....
No large reactions in commodities...

Hmmm......short becomes tempting now....
  • #50,015
  • Dec 12, 2008 7:24am Dec 12, 2008 7:24am
Quoting Driver55

Guys,

at 2361 I brought my puppies in safe haven.

For this week just so.

I wish you a good weekend

Enjoy your weekend.
  • #50,016
  • Dec 12, 2008 7:27am Dec 12, 2008 7:27am
will like a discussion on this crazy eur str yesterday..

what could have caused it?
  • #50,017
  • Dec 12, 2008 7:31am Dec 12, 2008 7:31am
Quoting trading801
will like a discussion on this crazy eur str yesterday..

what could have caused it?
probably a London fix or something...
  • #50,018
  • Dec 12, 2008 7:32am Dec 12, 2008 7:32am
Quoting Spsantos
Chicky I assume you meant going long from 1.34 to 1.35, than short ...
-----

We're now almost 12 hours in the same range, there's a trend up, but resistance as been strong...

Nothing else to do for me as most of you do, wait in the sidelines until it screams, whatever way that'll be, just move god damnit!
Not exactly. What I do is wait until pa get near to 1.3500 or just above this point. Once it hits 1.3500 or above, I open a short entry order just below the last resistance it crosses (1.3450 or 1.3400). On it way down (retrace), it will cross this resistance, this resistance will now become a support for a short entry and hence lesser probability for the pa to cross it again. However, if pa shows a strong trend upward, I will get out soon after my support becomes a resistence. Will try again. This way there are small drawdowns on every major reistance, but a major retrace will pay back all such losses plus some profit. This works for me. The only issue is it is very slow process and requires a little bit of patience plus confidence that a retrace will occur - and they do occur. Take an example of how it moved first time from 1.3000 to below 1.2500 during Asian session few days ago, then it moved back to 1.3000 in a couple of days. Now it is well above 1.3000. I expect same to happen in reverse direction. Once again - I am no saint.
The Thief of Wall Street
  • #50,019
  • Dec 12, 2008 7:35am Dec 12, 2008 7:35am
what a week. i thought i had it all figured out as always. I have become quite accurate at seeying correlations including fundies. the bailout plan was the topic this week and i thought it would follow the same pattern as any major news. buy the rumor sell the news. one major reason for the usd strength over the last half a year has been because it was thought of as a safety currency. In other words, economic conditions were thought to be better in the states then most other places because we were among the first to enter recession which means we would be one of the first to get out. The rumor regarding the bailout plan did as it should..it pushed the euro higher (much more then i expected to be honest) just because the big 3 struggling showed maybe the US is not as "safe" as thought. The actual news should have been the approval of the bailout plan which would have told market makers...all is safe again..we can trust the big old US of A now we can drop this pair hard to new lows. However, no bailout occured..no plan passed. So the rumor is true? Add on top of that what the ECB or Trichet said...Europe seems safer now then the US. What does that mean for the Eur/USD?....the pa is where it should be...if not higher until the next chapter begins of news favoring the safety of US and weakness of EU..if that will even happen again.
Different opinions highly valued, ignorant to slander.
  • #50,020
  • Dec 12, 2008 7:40am Dec 12, 2008 7:40am
what goes up has to come down.
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