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EUR/GBP - What a great pair to trade!

  • #141
  • Edited Jan 14, 2010 2:19am Jan 13, 2010 10:42am | Edited Jan 14, 2010 2:19am
Quoting smikester
So our next stop might be the lower trend line at 8860. I'm out of the market until I get some kind of a useful set up, perhaps around 8860.

Yeh but i'll add one more mini lot at 0.8900
Once the EURUSD has finished is down move around 1.4460...it should go back up.. it should drag EURGPB with it hopefully
COT: The precious data ignored
  • #142
  • Jan 13, 2010 6:53pm Jan 13, 2010 6:53pm
Quoting kuroro001
Yeh but i'll add one more mini lot at 0.9000
Once the EURUSD has finished is down move around 1.4460...it should go back up.. it should drag EURGPB with it hopefully
agree 100 % with that analisis, I'm holding to my hat like Jay walker sais, no more lots to add so is all waiting now, I have a hedge on the yurow with the dollar so I'm short the e/u from the top at R1 1.4572 so let it drop or go up what ever they want to do is the same for me, if it goes down I make money on the e/u and if it goes up I make money on the e/g lets see what happen
The Chonchy
  • #143
  • Jan 13, 2010 8:23pm Jan 13, 2010 8:23pm
my target is the upper BB at 8970 don't think I'm going to make it to the last trade up there at 8985 but we will see when we get there, if we take a loss or not, but after the profit from the other trades are realized, one more trade is no big deal

Attached Image (click to enlarge)
Click to Enlarge Name: yurow 15minute.gif Size: 13 KB
The Chonchy
  • #144
  • Jan 13, 2010 8:48pm Jan 13, 2010 8:48pm
Our Royal Pair is corelated with EUR/USD and GBP/USD, so the upwards movement of EUR/USD is not pushing EUR/GBP to top, EUR/GBP will go high once GBP/USD make a down move.
  • #145
  • Jan 14, 2010 2:18am Jan 14, 2010 2:18am
Yeh indeed we need a corrective move from GBPUSD to go down....if the one hour bar close on his low , it should confirm sellers are the place!
COT: The precious data ignored
  • #146
  • Jan 14, 2010 2:36am Jan 14, 2010 2:36am
Need H4 to close above .8935

Attached Image (click to enlarge)
Click to Enlarge Name: Uptrend.jpg Size: 102 KB


The General Conditions are

If EUR/USD moves UP then EUR/GBP Moves UP

If GBP/USD moves UP then EUR/GBP Moves DOWN

If GBP/USD moves Down then EUR/GBP Moves UP

But the Problem with our Royal Pair is

EUR/USD and GBP/USD being +ve Corelated

Means EUR/USD UP then GBP/USD UP
EUR/USD DOWN then GBP/USD Down

Till the time EUR/USD and GBP/USD doest break the corelation it will be a headache for us to predict the move of EUR/GBP.

My MSPAINT not working, something went wrong .. thats the reason Unregi Version.
  • #147
  • Jan 14, 2010 2:38am Jan 14, 2010 2:38am

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp14_01_2010.gif Size: 19 KB


The royal pair reversed exactly from 127% Fibonacci level of XA leg-valued at 0.8892-, seen on the provided hourly chart; thus, the bullish harmonic formation has affected the movements positively, while the secondary image shows that it succeeded in forming a bullish candlestick formation on the four-hour interval. Hence, we keep our outlook to the upside over intraday basis.
The trading range for today is among the key support at 0.8760 and key resistance now at 0.9145.
The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

RecommendationBased on the charts and explanations above our opinion is, buying the pair from 0.8905 targeting 0.9000 and stop loss below 0.8840 might be appropriate.
  • #148
  • Jan 14, 2010 2:50am Jan 14, 2010 2:50am
Quoting ILoveFF
Need H4 to close above .8935

Attachment

The General Conditions are

If EUR/USD moves UP then EUR/GBP Moves UP

If GBP/USD moves UP then EUR/GBP Moves DOWN

If GBP/USD moves Down then EUR/GBP Moves UP

But the Problem with our Royal Pair is

EUR/USD and GBP/USD being +ve Corelated

Means EUR/USD UP then GBP/USD UP
EUR/USD DOWN then GBP/USD Down

Till the time EUR/USD and GBP/USD doest break the corelation it will be a headache for us to predict the move of EUR/GBP.

My MSPAINT not working, something went wrong .. thats the...
Yeh i agree....and right now GBP is not ready to go down yet....each time it goes down it's being bought
COT: The precious data ignored
  • #149
  • Jan 14, 2010 5:05am Jan 14, 2010 5:05am
Rumours that UK may have to raise interest rates sooner than expected.
Gone to a better place
  • #150
  • Jan 14, 2010 5:50am Jan 14, 2010 5:50am
Quoting smikester
Rumours that UK may have to raise interest rates sooner than expected.
I really doubt it's true....can't expect a rise in rates with such economy
COT: The precious data ignored
  • #151
  • Jan 14, 2010 5:54am Jan 14, 2010 5:54am
Quoting smikester
Rumours that UK may have to raise interest rates sooner than expected.
May I ask, where did you hear this?
  • #152
  • Jan 14, 2010 6:03am Jan 14, 2010 6:03am
Here's a chart which shows we have a played out double top scenario. When I say played out I mean a confirmed break of the low at .8930 which will give us a tentative target of 8850 or even 8800. I'm setting a small short here.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100114.gif Size: 30 KB
Gone to a better place
  • #153
  • Jan 14, 2010 6:13am Jan 14, 2010 6:13am
well if they raise interest rates then the pound is going to fly up and this pair may drop, so in that case smikester short is well founded but if they don't raise interest rates because of the state of the economy like kuroro001 saids then it may go up after all, or keep going side ways who nows waiting for another Mr Trichet's speach
The Chonchy
  • #154
  • Jan 14, 2010 6:41am Jan 14, 2010 6:41am
Quoting witsnpips
May I ask, where did you hear this?

Thanks for asking. Like I said, it's a rumour. But I think it is likely the Uk will be one of the earliest to increase rates. here's the link:

http://www.bloomberg.com/apps/news?p...d=a12mQnx6JgOQ
Gone to a better place
  • #155
  • Jan 14, 2010 7:22am Jan 14, 2010 7:22am
Quoting smikester
Thanks for asking. Like I said, it's a rumour. But I think it is likely the Uk will be one of the earliest to increase rates. here's the link:

http://www.bloomberg.com/apps/news?p...d=a12mQnx6JgOQ
Hi Smikester
With a general election comming up ,that would be very bad to rise interest rates for the labour party ,dont you think.Maybe after the election in mid summer
  • #156
  • Jan 14, 2010 7:38am Jan 14, 2010 7:38am
Yes I agree - the Labour government doesn't want to rock the boat. Whoever takes over will have some serious cuts to make and as for interest rates rising, I don't know. If the Bank of England says it's done all it can to stimulate industry and it hasn't worked then we are in the ****

But it might not be interest rate rumours. The weekly chart for GBP/USD has been in a range for over 6 months and has recently bounced off the bottom with a bullish outside bar. How high will it go? Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly100114.gif Size: 21 KB
Gone to a better place
  • #157
  • Jan 14, 2010 8:45am Jan 14, 2010 8:45am
Is there Any Hope for EUR/GBP coming up before weekend weekend?

The Correlation making me UPSET

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.jpg Size: 18 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 21 KB
  • #158
  • Jan 14, 2010 9:40am Jan 14, 2010 9:40am
Quoting ILoveFF
Is there Any Hope for EUR/GBP coming up before weekend weekend?

The Correlation making me UPSET

Attachment

Attachment
its all wrong LOL need this correlation to break soon .... another tight week with this pair, its just meeting year support trend now.. well have the finger on the trigger to close my orders and review but hope to see re-trace .... a day close below the 200ma will make me re-think my long point of view and look at options ....

Happy Trading
  • #159
  • Jan 14, 2010 9:54am Jan 14, 2010 9:54am
Stop on my lots...trichet fucked me
No worries he'll pay me back !!
COT: The precious data ignored
  • #160
  • Jan 14, 2010 10:01am Jan 14, 2010 10:01am
Quoting kuroro001
Stop on my lots...trichet fucked me
No worries he'll pay me back !!
Same here kuroro001….Well as we always gotta remember "The Greatest Deal of the Century Comes around Everyday" LOL Just gotta know where to look for it LOL


Happy Trading
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