EURUSD

But since the supply is continuously and secretively manipulated, the price of oil can be speculatively run up....or down....

expecting a climb here 1.4000 and later 1.4040

if it goes up to 4450 would you still let me borrow your shoes or wud you lose that too

juz kidding welcome to ff!

try as hard you would some will still want to see fancy charts and colorful indies. Lol. like the low wit who just quoted you over charts.

they claim they "see" when they look at charts-but it is just that they see what they want to see.

I know what you mean here-no indicators or s/r and fibs can box the market- it will do what it has decided to do and you can either follow it or perish- and yes any decent trader needs a hint of gut in their trading plan-but am just talking to walls

First for my divination I prefer the trusty Ouija board you can't beat it. I have a 1870's school teacher that loves forex.

Second if your unable to explain why you took the trade why post it. Is it strictly for bragging rights? The Idea of posting my trades so people will pat me on the back is somewhat strange. I'd have to give credit to the school teacher anyway

Do what you want but remember your not helping anyone learn how to trade by posting your random entrees. However posting news and fundamental analysis is a great help, please share what you think and why.

Trade what you see, but I have no idea what that is because you haven't shown me Good luck as long as you don't trade against me.

I trade about an hour-1.5 hours of the london open. Dont miss it. That is 8 AM london time-I feel that I can give it an hour or so to make it mind and then scalp some.

gonna take-off buckle up

Hi Turveyd,

I agree, but demand vs production isn't always the case... Look at China now which are hamstring oil, price goes up.... but hey, that is some sort of demand yea you are right... sort of..

ok, I will leave that for now...


The problem for the economy is the new cars which are coming... they are going to use less in some cases no petrol... Obama said that by 2016 the new cars are not going to use more, and I quote;

Obama called it “an historic agreement to help America break its dependence on oil, reduce harmful pollution and begin the transition to a clean energy economy.”

The new requirements mark the first time there has been a nationwide standard for emissions of greenhouse gases. They require an average mileage standard of 39 miles per gallon for cars and 30 mpg for trucks by 2016 – a jump from the current average for all vehicles of 25 miles per gallon).
(roughly 0,6 per 10km from 0,9 per 10km)
Quote end;

This is 1.9 million barrels a year... not much from 22 they are using... but in the right direction/wrong... whatever...

And the rest of the world will follow...

Nice one . It's like the market listened to you at that very moment.

Forex and Financial Market Update 10 June 2009

By VeriteFX on June 10, 2009 6:50 PM | No Comments

S&P 500 futures reverse early gains and send higher-risk markets lower:

During the last two-hours of the Asian session early this morning and straight through to the European session the higher-yielding, higher-risk markets saw strong upside moves which has been the typical price action trend of late. The EUR/USD, GBP/USD, GBP/JPY, and EUR/JPY all benefited positively from the strength in crude oil and the S&P 500 futures but as soon as Wall St. opened at 0930 EST, the S&P 500 futures did a 180-degree turn and sold-off almost the entire NY session. As Wall St. opened the S&P 500 futures were at the 950 level and did nothing but plunge. Prior to Wall St. opening the futures peaked around the 953 level and fell over 25-points by mid-afternoon NY session and that was a very big and volatile move.

What caused such a strong initial sell-off was likely due to market participants booking profits and squaring their positions ahead of the two mega fundamental events we had this afternoon -- the 10-year Treasury auction and the Beige Book release. It was basically a case of the market selling the rumor and then selling the fact... but the last 30-minutes of Wall St. saw the S&P 500 futures, crude, and gold get bought up on the dips and this sent the EUR/USD, EUR/JPY, GBP/JPY and GBP/USD back up off their lows.

Sloppy 10-year Treasury auction benefits US dollar:

Some of the heaviest sell-offs in equities, commodities, and higher-yielding currencies came within seconds of the results of today's 10-year note auction being released. You may recall this from my update yesterday... so if tomorrow's 10-year auction is sloppy I would expect to see Wall St. sell-off and the dollar to potentially rise against the euro and pound sterling. The auction did turn out very sloppy as the bidders forced the Treasury to pay more to attract their money-flows. The expected yield on this auction was 3.97% and the bidders forced a yield of 3.99% which is very bearish right now.

The dollar did exactly what it's supposed to do as a result of the sloppy auction, it moved strongly against the euro and pound sterling and the USD Index moved over the 81 level. If it wasn't for equities and commodities rallying back the last 30-minutes of Wall St. the higher-yielders in the Forex market would have been stuck on their lows of the day. Market participants pretty much waited for the bond pit to close so they could see if the sell-off in Treasuries and gains in the dollar would continue and as they saw this was not the case, they got bold and bought the dips on the S&P 500 and Dow.

Overall it was a wild day with some intense price swings, especially for the dollar-denominated currency pairs and this is due to the amount of key fundamentals that were on the books today as the dollar was sensitive to them all (Crude Inventories, Treasury auction, Beige Book).

Everyone obsesses over Cars and there oil useage, industry is whats burning the oil and power generation I think cars account for 5% of oil useage so unless industry is sorting itself out to, Cars aren't going to make a big difference.

And if they move to plug in cars, and the power grid uses oil in some areas then your likely worse off than just using oil in your car anyway.

ok my thought.. last night i posted a number 4130 something.. i posted chart on fly... it doesnt matter my mt4 is good but not as acurrate as another platform i have.. but nt4 is easier to use. so i get off a little and the bigger the chart the more im off.

any way i wont be surprised to see 4054 or 4027 area if this is the high today. i think the shorter move is bearish. watch how we act around these numbers currently at 4010.. more post to come.

french nfp will give a hike no?

I have my 38.2 fib at 1.3980 where the PA has been hanging around for the last few hours. I have my PP at 1.4014, where the PA is currently trying to push through. If it does push through, I expect the next stop could be the 50 fib at 1.4036.

In the event that it goes above 1.4036, the next stop could be the 61.8 fib at 1.4089 and next would be R1 at 1.4113.

I think that 1.4036 (50 fib) might be a target, but I'm not too confident for anything much above that today.

My 5c

s/r for tonight 4175 44 4091 71 54 33 27 06 01 3977 67 49 27 13
im still looking for close below 3800 for bears and above last weeks high for bulls. since last weeks high the move of last night put me in the bearish corner.. but the move is not over.. we will test it. above 4054 puts me nuetral. longer term 4175 i think is the pivot. so above last weeks high puts me in the bullish camp but just for a few hundred pips.. this could go either way. so without a bias im on the bearish side untill 4175 is taken out. if 4054 or 4027 is rejected with some steam and we close below, its another brick for the bears.

you need to take into account the lower rejected trendline on the hour rejected today..know its there but also know it was rejected at a s/r number posted before rejection, todays low. imfuo

Something like this?

Another possibility?

See the up channel that lasted for over a month? Perhaps a down channel is beginning?

Just a thought to keep in mind

no do a channel up using the lows

It would help if you would post your own damn screen shot schmutz.
How's this

more like this. 4 hr.. see the grid. a double wammy