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  • #71,621
  • Mar 5, 2009 9:03am Mar 5, 2009 9:03am
I cant remember when we had so much movement both ways.
  • #71,622
  • Mar 5, 2009 9:04am Mar 5, 2009 9:04am
Quoting psiholog
hello guys...i see that the low has held while i slept even though the ecb cut rates. so...what did trichet say this time to keep the euro relatively strong? better said...rangebound


btw...what is up with the financial system today?..whoa that is dropping hard
What's even more perplexing is that the Euro should have dropped according to fundies but shows upward pressure, only held back by the U.S. stock market.
  • #71,623
  • Mar 5, 2009 9:07am Mar 5, 2009 9:07am
Quoting TradeWell
What's even more perplexing is that the Euro should have dropped according to fundies but shows upward pressure, only held back by the U.S. stock market.
stock market is tanking
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #71,624
  • Mar 5, 2009 9:08am Mar 5, 2009 9:08am
Quoting TradeWell
What's even more perplexing is that the Euro should have dropped according to fundies but shows upward pressure, only held back by the U.S. stock market.
i at least am aware why the us stock market crashed ...."china plans no addition stimulus plan money"..something along those lines. as far as financials go...moody's downgraded the top 3 banks causing a chain event in the whole financial sector dragging them all down



Citi for 99 cents anyone? ....its cheap



As for the Eur/Usd.......still havent gotten ahold of what was said in Trichet's speech...if anyone has a link to the official manuscript please feel free to post it
Different opinions highly valued, ignorant to slander.
  • #71,625
  • Mar 5, 2009 9:13am Mar 5, 2009 9:13am
Quoting psiholog
i at least am aware why the us stock market crashed ...."china plans no addition stimulus plan money"..something along those lines. as far as financials go...moody's downgraded the top 3 banks causing a chain event in the whole financial sector dragging them all down



Citi for 99 cents anyone? ....its cheap



As for the Eur/Usd.......still havent gotten ahold of what was said in Trichet's speech...if anyone has a link to the official manuscript please feel free to post it
13:59 EUR/USD: Trichet No Pre-Commitment On New Non-Standard Measures London, March 5th. Trichet has no pre-commitment on the new non-standard measures that the ECB are discussing. However, this is hardly a shock given that speculation is rife on a rift in the ranks of the executive board members. With no unified stance the Euro is likely to fall further and EUR/USD is already looking to toy with the 1.24s. 1.2450 remains key to the longer-term directionality, with an ACB a decent buyer ahead of the options at the price on the last EUR/USD move lower. [email protected]
  • #71,626
  • Mar 5, 2009 9:15am Mar 5, 2009 9:15am
Say goodbye to S&P 700 guys, I have a strange feeling we won't be seeing it anytime soon. The triple witching on 20th (Iraq war anniversary btw) could be the bottom of Finance stocks imo (with other sectors lagging behind them ~ 3 to 6 months).
  • #71,627
  • Mar 5, 2009 9:16am Mar 5, 2009 9:16am
i will post this technical analysis chart even though i have no intent to place any trades until at least end of us session as today is the end of the world as we know it!.

the 5min chart says it all really...fast moving pa with an inverted h&s in the making. Shoulder line is at 1.2530 and neckline is at 1.2565. A break of this level will fuel a run up to 1.2650 or so again..pretty much the high of the day. On the other hand if 1.2565 holds (and as we can all remember by now it is a very strong support that once broken should become strong resistance).....we could see a new low today. To be seen. I am currently flat and hold no bias while I try to comprehend the complexity of the mess the economy is in today...the China news bothers me....even they dont want anything to do anymore with the US...

Attached Image (click to enlarge)
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Sidenote: thank you waynkon.....that is just what i needed to know =)
Different opinions highly valued, ignorant to slander.
  • #71,628
  • Mar 5, 2009 9:18am Mar 5, 2009 9:18am
Quoting arthurb
C is broken
this is fu**ing crazy

Nice trading platform with a nice book .. right for scalpers
The best thing that can happen to you is to find out where you're wrong.
  • #71,629
  • Mar 5, 2009 9:20am Mar 5, 2009 9:20am
Quoting psiholog
Citi for 99 cents anyone? ....its cheap
At 5 1/2 billion shares outstanding, there are several individuals who could buy this giant corporation. Amazing.
  • #71,630
  • Edited 9:27am Mar 5, 2009 9:26am | Edited 9:27am
Quoting Driver55
Nice trading platform with a nice book .. right for scalpers
ahahaa,
yea , D55

spot on
we live in interesting times, and should make the most out of it
i guess you know that

but this is the wrong forum to talk about those things
  • #71,631
  • Mar 5, 2009 9:26am Mar 5, 2009 9:26am
Quoting TradeWell
At 5 1/2 billion shares outstanding, there are several individuals who could buy this giant corporation. Amazing.
But why would anyone want to buy an insolvent institution?
  • #71,632
  • Mar 5, 2009 9:26am Mar 5, 2009 9:26am
Quoting psiholog
i at least am aware why the us stock market crashed ...."china plans no addition stimulus plan money"..something along those lines. as far as financials go...moody's downgraded the top 3 banks causing a chain event in the whole financial sector dragging them all down



Citi for 99 cents anyone? ....its cheap



As for the Eur/Usd.......still havent gotten ahold of what was said in Trichet's speech...if anyone has a link to the official manuscript please feel free to post it
whats worse then that is history shows china doesnt always tell the truth.. they always talk things up.. and if the importers are buying less i think 8% is a myth..they can only store a limited supply of tickle me elmos..and other worthless crap u.s. buys from them
those who can, do. those who cant, talk about those who can
  • #71,633
  • Mar 5, 2009 9:28am Mar 5, 2009 9:28am
EMA50 H1,TD,daily pivot, H1 ganhillo must be broken to jump up
it seems so hard to do for EUR no pattern for pushing up and no fundamental news south is more possible i think
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  • #71,634
  • Mar 5, 2009 9:28am Mar 5, 2009 9:28am
http://uk.reuters.com/article/hotSto...31127920090305



Quoting Darkseal
I'm using fxcm trading station and the spreads I saw earlier ranged between 2.9 and 8...to 8 and 17 in a blink of an eye....

Anyone know the reason? I'm a scalper and it really screwed me up. I normally dont check that out unless I'm on for sunday.

Anyone know what happened for it to raise that spread up? Volume is still high...
  • #71,635
  • Mar 5, 2009 9:29am Mar 5, 2009 9:29am
Quoting gammase1
But why would anyone want to buy an insolvent institution?
Free money from TARP! Take the money and run!
  • #71,636
  • Mar 5, 2009 9:32am Mar 5, 2009 9:32am
Quoting TradeWell
Free money from TARP! Take the money and run!
They are finished. Value of liabilities totally outweigh their assets.

The next attempt to save them from the dreaded nationalisation could be the abolition of the nasty mark-to-market accounting. Talk about shooting the messenger...
  • #71,637
  • Mar 5, 2009 9:34am Mar 5, 2009 9:34am
Heres what I see playing out:

The dollar rallied with all the green news releases from the top of the current downward channel.

On the 1hr chart we see a slightly descending wedge forming. We will probably have good scalping opps here as we approach the Asian session. I dont think this wedge will be broken until Asian begins.

With NFP coming out tomorrow we are likely to see the Asians push price North out of the wedge and possibly a move toward a new swing high around 2800-2850.

I will be taking all profits as price approaches the bottom of this wedge or on a break out of it, and I'm hoping to see the pivots play ping pong with price as Asian session nears.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr eurusd 30509b.gif Size: 37 KB
  • #71,638
  • Mar 5, 2009 9:35am Mar 5, 2009 9:35am
i guess i can cut that card up.. i wonder if my sky miles with american are still good... thinking about a european trip.. but waiting for euro to go to .80 *L*
those who can, do. those who cant, talk about those who can
  • #71,639
  • Mar 5, 2009 9:38am Mar 5, 2009 9:38am
come on 2650
  • #71,640
  • Edited 9:47am Mar 5, 2009 9:42am | Edited 9:47am
Quoting GrnEydGuy

On the 1hr chart we see a slightly descending wedge forming. We will probably have good scalping opps here as we approach the Asian session. I dont think this wedge will be broken until Asian begins.
.
On the same token we have the CHF/USD at the bottom of a channel and looking as if it wants to push north as it fell below this bottom two times already and has crossed back and found it as support once again.
Attached Image (click to enlarge)
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