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  • #174,981
  • Dec 22, 2009 1:47pm Dec 22, 2009 1:47pm
Quoting gatorinla
may be last gasp atm for bulls. for a while. 77.99 is a big predictive fib for me. red line on chart.. its just above a older established fib. white line 77.91. its the holidays and housing within 1.5 hours. time will tell.. all on usdx chart posted. purple trendline is the key..but more important is the levels..
good luck.. i will trade your direction when charts tell me to. #174856
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those who can, do. those who cant, talk about those who can
  • #174,982
  • Dec 22, 2009 1:47pm Dec 22, 2009 1:47pm
Quoting SkyzerFX
So much for the Short hype.. And what you got? It's still

1.4270 lol

200 MA on 4H at 1.4720, see you then.
From what I've seen, it normally slows down around lunch time NY, but the hourly candles are still valid for my move, I'm seing to TP around the end of NY session. (fingers crossed)
  • #174,983
  • Dec 22, 2009 1:52pm Dec 22, 2009 1:52pm
Quoting Djehuti
From what I've seen, it normally slows down around lunch time NY, but the hourly candles are still valid for my move, I'm seing to TP around the end of NY session. (fingers crossed)
I hope I'll be there with you mate!! Which target do you think the downtrend will reach by the end of the session?
  • #174,984
  • Dec 22, 2009 2:22pm Dec 22, 2009 2:22pm
Quoting paulw6182
Question here: Does europe own more gold then usa since eu is very coralated to gold ?
USA have Gold plated Plastic bars in Fort Knox instead of GOLD. All GOLD has

been lost due to heavy manipulation and suppressing Gold prices over last 40 years.

Last inspection of Fort Knox was dated probably back in 1970..

Few bars left since then.
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  • #174,985
  • Dec 22, 2009 2:22pm Dec 22, 2009 2:22pm
Quoting maurofx
I hope I'll be there with you mate!! Which target do you think the downtrend will reach by the end of the session?
I have no way to tell, but i'll be happy if I can collect @ 4330.
  • #174,986
  • Dec 22, 2009 2:27pm Dec 22, 2009 2:27pm
Quoting paulw6182
Question here: Does europe own more gold then usa since eu is very coralated to gold ?
According to theory Paul, more than a correlation in eur-gold there is a negative correlation between usd-gold (one goes up, other goes down) since gold is seen as some kind of backup in times of crisis, so now that usd is strengthening against all other currencies, then gold prices are also dropping as a consequence.

Somebody please correct me if I'm wrong here.
  • #174,987
  • Dec 22, 2009 2:28pm Dec 22, 2009 2:28pm
how about to long usdcad.. there are negative data for cad and positive for dollar tomorrow
Pation is the Holy Grail
  • #174,988
  • Dec 22, 2009 2:39pm Dec 22, 2009 2:39pm
Quoting CzechTrade
how about to long usdcad.. there are negative data for cad and positive for dollar tomorrow
USDCAD? I'd wait 1.0620 + and Short it.. But for quick pips, like M5-M15

anything could work. I just made few pips shorting EURUSD on the scalp,

while maintaining my LONG position. USDCAD perfect SHORT is 1.07 area

1.0650+ also looking good. Very volatile though.

I'm sure Mr. Ben shorting Dollar as well
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  • #174,989
  • Dec 22, 2009 2:49pm Dec 22, 2009 2:49pm
Quoting SkyzerFX
USDCAD? I'd wait 1.0620 + and Short it.. But for quick pips, like M5-M15

anything could work. I just made few pips shorting EURUSD on the scalp,

while maintaining my LONG position. USDCAD perfect SHORT is 1.07 area

1.0650+ also looking good. Very volatile though.

I'm sure Mr. Ben shorting Dollar as well
yea but take a look at weekly chart and draw trendlines and you ll see a nice triangle which seems to me is about to break upwards so i am thinking about a long term trade here (weeks).. take a look and share your thoughts
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Pation is the Holy Grail
  • #174,990
  • Dec 22, 2009 2:55pm Dec 22, 2009 2:55pm
Quoting CzechTrade
take a look and share your thoughts
Ok CAD is an OIL currency. Tomorrow 10:30AM is a Crude Inventories data

and It could be shortage again. Consider that before shorting.
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  • #174,991
  • Dec 22, 2009 2:56pm Dec 22, 2009 2:56pm
Quoting SkyzerFX
Ok CAD is an OIL currency. Tomorrow 10:30AM is a Crude Inventories data

and It could be shortage again. Consider that before shorting.
why is it oil currency?
Pation is the Holy Grail
  • #174,992
  • Dec 22, 2009 3:00pm Dec 22, 2009 3:00pm
CzechTrade i am looking at a long term target of 1.12
  • #174,993
  • Dec 22, 2009 3:01pm Dec 22, 2009 3:01pm
Quoting vinesh2
CzechTrade i am looking at a long term target of 1.12
Keep looking it's going to 1=1
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  • #174,994
  • Dec 22, 2009 3:01pm Dec 22, 2009 3:01pm
Quoting SkyzerFX
Ok CAD is an OIL currency. Tomorrow 10:30AM is a Crude Inventories data

and It could be shortage again. Consider that before shorting.
i coppied this from usd cad forum from trader pipper smile:

From Dailyfx.com..............


USD/CAD
Strategy: Long at 1.0558, Targeting 1.0875
Weekly Profit / Loss: +88 pips
Total Profit / Loss: +63 pips
We entered long USDCAD at 1.0558. Although bullish momentum has not materialized in earnest, the consolidation of recent weeks has formed a bullish ascending triangle formation, hinting that the direction of the eventual breakout is likely to favor bulls. We will remain long, continuing to target the 11/02 wick high at 1.0875. A stop-loss will be activated on a daily close below 1.0415.


Read more: DailyFX - USDCAD: Ascending Triangle Hints at Bullish Breakout Ahead http://www.dailyfx.com/forex/technic...#ixzz0aRJn9K5X

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Pation is the Holy Grail
  • #174,995
  • Dec 22, 2009 3:02pm Dec 22, 2009 3:02pm
Quoting CzechTrade
why is it oil currency?
Canada is large commodities export country.. And it's currency,

like a Russian ruble, for an example, pretty much tight up to commodities prices.

Oil goes up = CAD goes up.
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  • #174,996
  • Dec 22, 2009 3:06pm Dec 22, 2009 3:06pm
Quoting vinesh2
CzechTrade i am looking at a long term target of 1.12
hell yea man.. just checked out monthly and i am changing my tp from .0597 to 1.845.. lets see how it works
Pation is the Holy Grail
  • #174,997
  • Dec 22, 2009 3:09pm Dec 22, 2009 3:09pm
Quoting Djehuti
...
since gold is seen as some kind of backup in times of crisis, so now that usd is strengthening against all other currencies, then gold prices are also dropping as a consequence.

Somebody please correct me if I'm wrong here.
Also, gold can strength when inflationary expectations start to rise.
  • #174,998
  • Dec 22, 2009 3:12pm Dec 22, 2009 3:12pm
Quoting CzechTrade
how about to long usdcad.. there are negative data for cad and positive for dollar tomorrow
On short term maybe, but in the medium-long term, imo, it will trend lower.
  • #174,999
  • Dec 22, 2009 3:13pm Dec 22, 2009 3:13pm
Skyz my freind. Any close weekley or monthly above the upper trend line will take us to the moon. Have fun with the chart
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  • #175,000
  • Dec 22, 2009 3:16pm Dec 22, 2009 3:16pm
Quoting vinesh2
Skyz my freind. Any close weekley or monthly above the upper trend line will take us to the moon. Have fun with the chart
My point is that over few days anything can happens but in long term dollar

going lower and what happens now nothing, but bear market rally:

"China's Deputy Governor Zhu Min who said, "when the US has to fund its deficit through the combination of
issuing more Treasuries and printing more dollars, it is inevitable that the dollar will continue to weaken."

And I agree.

Just no other way around that.
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