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  • #148,821
  • Oct 2, 2009 9:20am Oct 2, 2009 9:20am
Quoting fxswing
Don't forget that's it's the start of the month / quarter, money is flowing...
Hi fxswing, what is the usuall expected effect of start of the month / quarter on currency especially EUR/USD ?

and what the cause of the recent spike in EUR/USD in the last 30 minutes ?

thanks
Ayman
  • #148,822
  • Oct 2, 2009 9:22am Oct 2, 2009 9:22am
watch the usd rally in the next 2 weeks ...aka china...
  • #148,823
  • Oct 2, 2009 9:23am Oct 2, 2009 9:23am
Quoting n000b
then why were you asking the forex Gods to jack it up !?!?!?! damn, had to inject a few billions just to make it look good to you! I want my money back!
No worries! Bernanke is printing dollars as fast as he can! A mule named Chester will be arriving soon.
ciao
----- Dragonfly out in the sun you know what I mean, don't you know
  • #148,824
  • Oct 2, 2009 9:30am Oct 2, 2009 9:30am
Quoting Pipster888
pulling back now nice gap up triggered my sell...4630
just sold this bi*ch
ROBOT FOREX
  • #148,825
  • Oct 2, 2009 9:32am Oct 2, 2009 9:32am
Forbes hold on to that short for a little while
  • #148,826
  • Oct 2, 2009 9:32am Oct 2, 2009 9:32am
Apologize, correct my post...Nasdaq 09 pivot is 1690, not 1666, it is now printing 1670.
----- Dragonfly out in the sun you know what I mean, don't you know
  • #148,827
  • Oct 2, 2009 9:38am Oct 2, 2009 9:38am
Quoting sophiaphia
Apologize, correct my post...Nasdaq 09 pivot is 1690, not 1666, it is now printing 1670.
could you please post the eu chart that you trade with?
If it floats, flies, or f%^ks, rent it, it's cheaper.
  • #148,828
  • Oct 2, 2009 9:38am Oct 2, 2009 9:38am
I have a V-top at 4641 on EU with Bearish DIV on RSI....But looks like the CHF could drop a littel more to 0289....

Vinesh2 are you looking at a better place to SHORT....

Atlast your median line was around 4625 I believe....your thoughts are welcomed.....to many good arguments for a Short or LONG here....
  • #148,829
  • Oct 2, 2009 9:39am Oct 2, 2009 9:39am
Where price has been before
numbers aren't exact but close
Attached Image (click to enlarge)
Click to Enlarge Name: eurolinechart.JPG Size: 188 KB
  • #148,830
  • Oct 2, 2009 9:41am Oct 2, 2009 9:41am
IMARCHI good place to short is right here I would not go long right now. Weekley RSI is still bearish and if we close below mid 1.46 then we shall see new lows in coming weeks
  • #148,831
  • Oct 2, 2009 9:41am Oct 2, 2009 9:41am
Quoting market man
Hi fxswing, what is the usuall expected effect of start of the month / quarter on currency especially EUR/USD ?

and what the cause of the recent spike in EUR/USD in the last 30 minutes ?

thanks
Ayman
Lots of players take positions at the start of the month/quarter.
This often gives big moves on the 2-5 first sessions of the month / quarter.

For the "spike" I would say that daily/weekly buyers entered the market again after a decent pullback, below 1.4500.
Nothing really changed and the trend is still up on higher time frame.
Getting it right is NOT as important as not getting it wrong.
  • #148,832
  • Oct 2, 2009 9:42am Oct 2, 2009 9:42am
So far its playing out the way I'm seeing it...

http://www.forexfactory.com/showpost...stcount=148306
In Charts We Trust!
  • #148,833
  • Oct 2, 2009 9:44am Oct 2, 2009 9:44am
Quoting IMARICH1
I have a V-top at 4641 on EU with Bearish DIV on RSI....But looks like the CHF could drop a littel more to 0289....

Vinesh2 are you looking at a better place to SHORT....

Atlast your median line was around 4625 I believe....your thoughts are welcomed.....to many good arguments for a Short or LONG here....
My median line at 1.4628. It's end of the week, the market has tradeed above the upper ML, there is a lot of buying pressure. The market has tested and moved above and below R1 at 1.4633. Long term players are looking at 1.4658 to be taken out. The market typically moves up for another hour from here. Short is now counter the new trend.
There is likelihood the market will get back to 1.4605.
  • #148,834
  • Oct 2, 2009 9:45am Oct 2, 2009 9:45am
It have been consolidating around 1.4610 -1.4630. I guess not much more movement as we are heading into the weekend?
  • #148,835
  • Oct 2, 2009 9:45am Oct 2, 2009 9:45am
Quoting trading801
nah. i am just an average trader

anyway, if you want to read more forex topics.. u can go my blog and click on forex... i have topics like... gold and usd ... S&P 500 and eur/usd relation

etc etc

www.thegeekknows.com

happy reading and best of trades !!


Fly2 & trading801,

Thank you guys..i am negative at the movement, but it is still under 2% of risk..hopefully EUR will drop soon...

801, thanks for the link..i will go through it during the week-end.

-myfx-
-happyTrading-myFx.
  • #148,836
  • Oct 2, 2009 9:48am Oct 2, 2009 9:48am
Look at the chart I posted...this will give you some direction...

http://www.forexfactory.com/showpost...stcount=148306


Quoting myfx
Fly2 & trading801,

Thank you guys..i am negative at the movement, but it is still under 2% of risk..hopefully EUR will drop soon...

801, thanks for the link..i will go through it during the week-end.

-myfx-

In Charts We Trust!
  • #148,837
  • Oct 2, 2009 9:50am Oct 2, 2009 9:50am
Quoting fxswing
Lots of players take positions at the start of the month/quarter.
This often gives big moves on the 2-5 first sessions of the month / quarter.

For the "spike" I would say that daily/weekly buyers entered the market again after a decent pullback, below 1.4500.
Nothing really changed and the trend is still up on higher time frame.
Thanks brother
  • #148,838
  • Oct 2, 2009 9:50am Oct 2, 2009 9:50am
Atlast and Vinesh2,

Thanks for your input......

The thing I struggle with on the SHort side is that a Bank Trader who was in the trading scene for a few years said the Banks use the 20ma on the Day Chart. We were in an uptrend for awhile last week and previous and have now come back and touched it. It appears the 20ma is holding up the EU on the Day chart.....

So it make me think LONG is correct.....
  • #148,839
  • Oct 2, 2009 9:51am Oct 2, 2009 9:51am
dropping....
  • #148,840
  • Oct 2, 2009 9:55am Oct 2, 2009 9:55am
Quoting X.Oden
Look at the chart I posted...this will give you some direction...

http://www.forexfactory.com/showpost...stcount=148306

Hi O'den,

Thank you man..hope it will happen.

-myfx-
-happyTrading-myFx.
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