Attachments: EURUSD

EURUSD

#169,781
Dec 8, 2009 7:50am Dec 8, 2009 7:50am

johto
| Membership Revoked | Joined Oct 2007 | 241 Posts

Got about +35 pips on the last trade for today (drop on the US open). Got out at 1.4747. Overall break even day. Shitty price action today IMHO.

#169,782
Dec 8, 2009 7:51am Dec 8, 2009 7:51am

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,124 Posts

oil below 73..

those who can, do. those who cant, talk about those who can

#169,783
Dec 8, 2009 7:56am Dec 8, 2009 7:56am

anthonykay
| Joined Apr 2007 | Status: Trader | 104 Posts

i have a question what they mean by yield assets and why is it related to currencies ?

#169,784
Dec 8, 2009 8:00am Dec 8, 2009 8:00am

FX-Petra
Joined Sep 2007 | Status: Trader | 1,673 Posts

Was able to close out all my longs overnight @ 4855. Seemed evident that we were going lower. Reset 1/2 long position @ 4750 this morning. Will add @ 4680 and 4630 if able. Still target above 1.51. 4725 is near the channel bottom on weekly chart. We'll see if that holds. I have tried hard to recognize any fundmental changes in E/U.... but IMHO dollar is still funamentally weak and this is just a pullback. Good trades to all.

#169,785
Dec 8, 2009 8:05am Dec 8, 2009 8:05am

Twilight
| Joined Dec 2009 | Status: Trader | 45 Posts

Quoting anthonykay

Disliked

i have a question what they mean by yield assets and why is it related to currencies ?

Ignored

In principle, high yielding assets call for risk apetite.
When they are bought, currencies like EUR, CAD, aussie and kiwi go up.
When risk apetite is low, investors shy away from high yielding assets and buy safe-heaven currencies ($, yen), bonds and treasuries with lower but safer yield.

Still, the matter and correlations are complex, you should google it and study for yourself.

#169,786
Dec 8, 2009 8:11am Dec 8, 2009 8:11am

Protogenos
| Joined Oct 2009 | Status: Trader | 509 Posts

Quoting FX-Petra

Disliked

Was able to close out all my longs overnight @ 4855. Seemed evident that we were going lower. Reset 1/2 long position @ 4750 this morning. Will add @ 4680 and 4630 if able. Still target above 1.51. 4725 is near the channel bottom on weekly chart. We'll see if that holds. I have tried hard to recognize any fundmental changes in E/U.... but IMHO dollar is still funamentally weak and this is just a pullback. Good trades to all.

Ignored

Yeah, my fundamental models have been pointing up since the NFP move, and I've been long, but all this downward pressure is discouraging. I don't see the reason for the move down unless you chalk it up to profit taking and/or and unwinding of the carry trade.

#169,787
Dec 8, 2009 8:15am Dec 8, 2009 8:15am

anthonykay
| Joined Apr 2007 | Status: Trader | 104 Posts

Quoting Twilight

Disliked

In principle, high yielding assets call for risk apetite.
When they are bought, currencies like EUR, CAD, aussie and kiwi go up.
When risk apetite is low, investors shy away from high yielding assets and buy safe-heaven currencies ($, yen), bonds and treasuries with lower but safer yield.

Still, the matter and correlations are complex, you should google it and study for yourself.

Ignored

thank u

#169,788
Dec 8, 2009 8:16am Dec 8, 2009 8:16am

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,124 Posts

Quoting FX-Petra

Disliked

Was able to close out all my longs overnight @ 4855. Seemed evident that we were going lower. Reset 1/2 long position @ 4750 this morning. Will add @ 4680 and 4630 if able. Still target above 1.51. 4725 is near the channel bottom on weekly chart. We'll see if that holds. I have tried hard to recognize any fundmental changes in E/U.... but IMHO dollar is still funamentally weak and this is just a pullback. Good trades to all.

Ignored

reality... european bank exposure to sand.

those who can, do. those who cant, talk about those who can

#169,789
Dec 8, 2009 8:30am Dec 8, 2009 8:30am

meje
| Joined Aug 2008 | Status: Trader | 269 Posts

Quoting gatorinla

Disliked

reality... european bank exposure to sand.

Ignored

sand from dubai

#169,790
Dec 8, 2009 8:31am Dec 8, 2009 8:31am

FX-Petra
Joined Sep 2007 | Status: Trader | 1,673 Posts

Quoting Protogenos

Disliked

Yeah, my fundamental models have been pointing up since the NFP move, and I've been long, but all this downward pressure is discouraging. I don't see the reason for the move down unless you chalk it up to profit taking and/or and unwinding of the carry trade.

Ignored

There could be a lot of reasons, all mixed together. Today is day 11 since the last swing high. Since April, E/U has taken 20-25 days from one swing high to the next. Yes, this pull back is deeper than most, but still well contained between the 76.4 and 61.8 fib lines (from the big decline). Additionally, multi-month strong trends rarely end on single day or week. It takes time to get such momentum firmly turned. Even if we do not see new highs (which I highly doubt) we should still get another topside test.

Regards,

#169,791
Dec 8, 2009 8:32am Dec 8, 2009 8:32am

angelo5uk
| Joined Oct 2009 | Status: Trader | 36 Posts

if it breaks the thick red trendline with 3 closes in the diagram then im going long with 47905 as target.

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#169,792
Dec 8, 2009 8:43am Dec 8, 2009 8:43am

lenl
| Membership Revoked | Joined Oct 2009 | 10 Posts

E/U going up I think... going long at 1.4775 !

#169,793
Edited 8:55am Dec 8, 2009 8:43am | Edited 8:55am

majorusa
Joined Sep 2008 | Status: Trader | 1,217 Posts

Not a bad day for me. Here are my last live trades. I missed some of the move because got out too early. I was not comfortable letting my positions run in today PA while out of the computer but all in all I am happy. I hope you got some of the move too.

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