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  • #11,721
  • May 26, 2009 1:48am May 26, 2009 1:48am
But GBP actually broke a trendline to the downside....

North Korea is firing missles, news coming from EUR and GBP not positive right now....

The fade from this high was a pretty strong one indeed....look for a move to the low of consolidation here.

Active night tonight.
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  • #11,722
  • May 26, 2009 3:20am May 26, 2009 3:20am
All around S/R getting hit right now.....1.3900 EUR/USD, 1.0900 USD/CHF and 1.5817 GBP.....but I'm not reversing anything yet. Expected a pretty nasty move today, and not enough conviction to think its over just yet. But thats just me....
  • #11,723
  • May 26, 2009 3:33am May 26, 2009 3:33am
the Eu trendline makes me a little nervous about the planned long at 1.3866
  • #11,724
  • May 26, 2009 3:33am May 26, 2009 3:33am
after recommending it last week Ive been using it alot more. Just a reminder here it is: http://ransquawk.com/

To some of you its old news but for those that dont have it its free but has a 2 min delay. Gotta pay for real time but you dont need it....just use FF numbers.
  • #11,725
  • May 26, 2009 3:48am May 26, 2009 3:48am
BRV, you are so accurate in predicting the moving today. EU is moving down close to 1.3865-1.3840 now. Let see what happen!
  • #11,726
  • May 26, 2009 4:03am May 26, 2009 4:03am
If North Korea Fire Missile. The currency mostly affected should be JPY, why GBP & EUR?
  • #11,727
  • May 26, 2009 4:03am May 26, 2009 4:03am
Areas to watch.
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  • #11,728
  • May 26, 2009 4:10am May 26, 2009 4:10am
Quoting kk007
If North Korea Fire Missile. The currency mostly affected should be JPY, why GBP & EUR?
Risk aversion......people buy USD because its the reserve currency, stocks sell, treasuries rise....you're right pairs get nailed pegged to JPY - that includes EUR/JPY, etc...affects EUR and GBP as well.

Regardless GBP and EUR also under alot of heat tonight on their own doing. Downgrades of GBP and European banks spotting the headlines.
  • #11,729
  • May 26, 2009 4:21am May 26, 2009 4:21am
Quoting BillyRayValentine
Risk aversion......people buy USD because its the reserve currency, stocks sell, treasuries rise....you're right pairs get nailed pegged to JPY - that includes EUR/JPY, etc...affects EUR and GBP as well.

Regardless GBP and EUR also under alot of heat tonight on their own doing. Downgrades of GBP and European banks spotting the headlines.
Germany next.

Haha - it makes me laugh because they were in denial for so long.
  • #11,730
  • May 26, 2009 4:21am May 26, 2009 4:21am
Thanks BRV, it's just my poor fundamental. Wonder where I can learn more. I really need to learn it hard...
  • #11,731
  • Edited 4:38am May 26, 2009 4:22am | Edited 4:38am
I'm quite happy to take this 1H bucket long as it coincides with medium term support.
Though pairs like EUR and GBP have a bit more to go down until they come to a similar sutation but I found that the correlation between AUD and those other two is somewhat elastic.




Missed this move by a mere 10th of a pip !

I took the order off now because if it comes down, I'd think it would break that level by the looks of the PA on the 1M.

If I was in a trade I'd moved it to BE by now.

I think it could still work, but too risky and not worth leaning too much out of the window. Either it turns around where anticipated or I'm out.
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Be like a post stamp! Stick to it until you get there!
  • #11,732
  • May 26, 2009 4:24am May 26, 2009 4:24am
I have no interest in fading this current move unless we get down into (on EUR) the low 3800's, high 3700's at this point. Too steep and the news tonight has been one for the books....few buyers to be found ATM.
  • #11,733
  • May 26, 2009 4:26am May 26, 2009 4:26am
Quoting kk007
Thanks BRV, it's just my poor fundamental. Wonder where I can learn more. I really need to learn it hard...
Just read bloomberg, IFR, and listen to ransquawk....you'll figure it out its all pretty easy.
  • #11,734
  • May 26, 2009 4:28am May 26, 2009 4:28am
Quoting RedCabbage
Germany next.

Haha - it makes me laugh because they were in denial for so long.

Everyone gets their turn....as if they haven't already....this is just the nail in the coffin today; and its really not horrifying if you step back and compare it to the hits other areas have taken.

I'll have some pretzels and beer in mourning.
  • #11,735
  • May 26, 2009 4:37am May 26, 2009 4:37am
CAD gartley? CAD could start rolling over according to this. Tell me if it's too cluttered and I can try to clean it up a bit.

sorry CAD not AUD
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  • #11,736
  • May 26, 2009 4:37am May 26, 2009 4:37am
Quoting BillyRayValentine
I have no interest in fading this current move unless we get down into (on EUR) the low 3800's, high 3700's at this point. Too steep and the news tonight has been one for the books....few buyers to be found ATM.
Agreed.
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  • #11,737
  • May 26, 2009 4:39am May 26, 2009 4:39am
Quoting RedCabbage
Agreed.
bam....you nailed my area without me even saying it exactly ... 3810 area was my first on tap
  • #11,738
  • May 26, 2009 4:48am May 26, 2009 4:48am
1.3865 was a big area for longs, so no surprise its seeing some action now. I'm still bearish ATM though. EUR now has a lot of obstacles above now, 13897-13900 being the closest.
  • #11,739
  • May 26, 2009 5:55am May 26, 2009 5:55am
Is today's CB Consumer Confidence a news to prevent? Price may touch critical point around the news release.
I guess consumer confidence is not very unpredictable, and should not have a very big impact.
  • #11,740
  • May 26, 2009 6:44am May 26, 2009 6:44am
Sorry I didn't post this one earlier, it's the only one that is working out so far.
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