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  • #53,341
  • Jan 4, 2009 1:30pm Jan 4, 2009 1:30pm
Quoting PipPipPip
How high do you think it will go? (towards resistance before taking a short)
Well I think that we will see a gap down today at the open, around 30-40 pips from friday's close of 1.3922. From that point on, the nearest short level would probably be 1.3929 and 67. But I have to see the price action in order to make that decision to short, and since markets are closed right now I really cant tell how high it might reach.
  • #53,342
  • Jan 4, 2009 1:33pm Jan 4, 2009 1:33pm
Quoting iii
Well I think that we will see a gap down today at the open, around 30-40 pips from friday's close of 1.3922. From that point on, the nearest short level would probably be 1.3929 and 67. But I have to see the price action in order to make that decision to short, and since markets are closed right now I really cant tell how high it might reach.
You were almost right, the price was at 1.3900 34 minutes ago, then it went down a bit, and now come back to 1.3900, but wants to go down... Seems like PA is really down today.
  • #53,343
  • Jan 4, 2009 1:39pm Jan 4, 2009 1:39pm
Quoting toshi
What about a "spike" past parity ?

You know the kind I'm talking about.

What would be more bullish for the pound than to see it trade
under par to the euro for a few days or even a few hours
and then sharply reverse and not trade those prices for a week or two,
followed by more retacement ?

Once it hits the front page of the Financial Times,
Would that not be the screaming indicator of the year ?

In '92, UK was kicked out of the ERM anyway. They don't want back in.
With current economic conditions, UK might not even meet EU standards...
there is even political party whose sole objective is to prevent EURO ( not soul but you know what i mean) .

I say screw euro, pound forever !
  • #53,344
  • Jan 4, 2009 1:40pm Jan 4, 2009 1:40pm
does anyone have a link where i can get live rates on the weekend?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,345
  • Jan 4, 2009 1:43pm Jan 4, 2009 1:43pm
Quoting moneymagnet
does anyone have a link where i can get live rates on the weekend?

Maybe http://www.xe.com/ ? It shows rates on Sunday for sure several hours before my FxPro broker opens.
  • #53,346
  • Jan 4, 2009 1:46pm Jan 4, 2009 1:46pm
Quoting iii
Well I think that we will see a gap down today at the open, around 30-40 pips from friday's close of 1.3922. From that point on, the nearest short level would probably be 1.3929 and 67. But I have to see the price action in order to make that decision to short, and since markets are closed right now I really cant tell how high it might reach.
Interesting. As a pessimistic, I'll take a bet against that, Im gonna take position to short at around 1.392ish and close at 3870. I think the liquidity is bullish and will bounce at 3863. I guess we'll just have to find out.

Is any one else's brokers still closed? Because my broker has been opened for the last 4 hours. Hrm...

iii, which broker are you using? mind if i ask?...
  • #53,347
  • Jan 4, 2009 1:47pm Jan 4, 2009 1:47pm
Quoting PipPipPip
Interesting. As a pessimistic, I'll take a bet against that, Im gonna take position to short at around 1.392ish and close at 3870. I think the liquidity is bullish and will bounce at 3863. I guess we'll just have to find out.

Is any one else's brokers still closed? Because my broker has been opened for the last 4 hours. Hrm...

iii, which broker are you using? mind if i ask?...
I use tradestation, through gain capital group.
  • #53,348
  • Jan 4, 2009 1:47pm Jan 4, 2009 1:47pm
Quoting stribijev
You were almost right, the price was at 1.3900 34 minutes ago, then it went down a bit, and now come back to 1.3900, but wants to go down... Seems like PA is really down today.
I have a newb question. And Im sure this has been asked a zillion times... Whats a PA?
  • #53,349
  • Jan 4, 2009 1:49pm Jan 4, 2009 1:49pm
Quoting stribijev
You were almost right, the price was at 1.3900 34 minutes ago, then it went down a bit, and now come back to 1.3900, but wants to go down... Seems like PA is really down today.
I agree. But my broker is still closed, will open in ten min
All the best things in life are free.
  • #53,350
  • Jan 4, 2009 1:52pm Jan 4, 2009 1:52pm
Quoting PipPipPip
I have a newb question. And Im sure this has been asked a zillion times... Whats a PA?
Price Action
All the best things in life are free.
  • #53,351
  • Jan 4, 2009 1:57pm Jan 4, 2009 1:57pm
It actually opened and shooted up to 1.3937 , declining now currently at 1.3893.
Its bound to breack down today , 1.3830 has been tested a few times.
5 min chart , 1min chart and 15 min chart indicates decending triangle and breacking the 0.38 fib level of 1.47 high indicating a strong move down maybe towards 1.3600.
But still also a possible break up on 4hr chart especially with all the news for USD that could be crap this week.
I would put sell order on 1.3820 and TP on 1.3750 with few trailing stops , but if it reaches 1.42 this week , I would buy long and ride it.
Just my outlook , any other suggestions.
  • #53,352
  • Jan 4, 2009 2:00pm Jan 4, 2009 2:00pm
Quoting iii
And I would not take your word for it even if I bet a dollar, simply because from my experience oil does not play a great role in eur/usd pricing.
really. Over the summer oil was directly correlated with the euro. Oil up:euro up. and vice versa. I'm going to wait and see what happens at the euro open.
  • #53,353
  • Jan 4, 2009 2:02pm Jan 4, 2009 2:02pm
Quoting gsbotes
I just opened account with FXCM , seems nice , fast platform and instant quotes , What do you guys think or suggest.
i would erase your message before you get an infraction.
  • #53,354
  • Jan 4, 2009 2:06pm Jan 4, 2009 2:06pm
Dumb question , but whats infraction?

any way , agree with you completely on the oil part , evem if you look at the charts you will see an resemblance
  • #53,355
  • Jan 4, 2009 2:08pm Jan 4, 2009 2:08pm
Quoting sed34
really. Over the summer oil was directly correlated with the euro. Oil up:euro up. and vice versa. I'm going to wait and see what happens at the euro open.
From April to mid July the euro was in a trading range, was oil in trading rage as well? Please check your charts again.
  • #53,356
  • Jan 4, 2009 2:08pm Jan 4, 2009 2:08pm
you are under 100 post. don't post anything that looks like you're trying to promote or sell something.
  • #53,357
  • Jan 4, 2009 2:09pm Jan 4, 2009 2:09pm
Quoting gsbotes
It actually opened and shooted up to 1.3937 , declining now currently at 1.3893.
Its bound to breack down today , 1.3830 has been tested a few times.
5 min chart , 1min chart and 15 min chart indicates decending triangle and breacking the 0.38 fib level of 1.47 high indicating a strong move down maybe towards 1.3600.
But still also a possible break up on 4hr chart especially with all the news for USD that could be crap this week.
I would put sell order on 1.3820 and TP on 1.3750 with few trailing stops , but if it reaches 1.42 this week , I would...
good observation. there is a 4hr bullish formation but if it breaks below expect a test of the 50% fibo
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,358
  • Jan 4, 2009 2:11pm Jan 4, 2009 2:11pm
Quoting gsbotes
It actually opened and shooted up to 1.3937 , declining now currently at 1.3893.
Its bound to breack down today , 1.3830 has been tested a few times.
5 min chart , 1min chart and 15 min chart indicates decending triangle and breacking the 0.38 fib level of 1.47 high indicating a strong move down maybe towards 1.3600.
But still also a possible break up on 4hr chart especially with all the news for USD that could be crap this week.
I would put sell order on 1.3820 and TP on 1.3750 with few trailing stops , but if it reaches 1.42 this week , I would...

May I ask if you are using a practice account? because I do not see 1.3937 open today at 5pm eastern time. I saw 1.393+ at 11am pacific time for me here. Its riding around 1.3899-1.3905 at the moment.
I agree with iii and you that its bound to break down today at 1.3830 and possibly further. However i bet against you that it will not go towards 1.36 today.

others suggestions?
  • #53,359
  • Jan 4, 2009 2:12pm Jan 4, 2009 2:12pm
Quoting iii
From April to mid July the euro was in a trading range, was oil in trading rage as well? Please check your charts again.
Dont know what charts you looking at but I am always interested in oil price and I could definantly se an resemblance , if euro went up so did oil.
  • #53,360
  • Jan 4, 2009 2:15pm Jan 4, 2009 2:15pm
Quoting PipPipPip
May I ask if you are using a practice account? because I do not see 1.3937 open today at 5pm eastern time. I saw 1.393+ at 11am pacific time for me here. Its riding around 1.3899-1.3905 at the moment.
I agree with iii and you that its bound to break down today at 1.3830 and possibly further. However i bet against you that it will not go towards 1.36 today.

others suggestions?
No opened at 1.3851 and rallied up to 1.3937 in 3 min , real account.
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