Spot FX Day Trader's Thread

I concur, she's definitely an upgrade compared to Miss Williams!

So, I wonder if the great euro sell-off will continue tonight? Asian indexes supposed to be on the up to start the week.

I'm just going to sell ninja at 92

You still bullish Long-Term on Ninja Pippy? It's got pretty significant trendline resistance just above, but when it does get strong enough to break through that I think it's got a long long way to go up. I'm very bullish on that pair long term.

really long yes.. of course.. it has a tremendous amount of room, BUT from this level it's best to short the inevitable run to the JPY that happens every time there's the slightest bit of scary news.. then you try to catch the low and ride it.. but it's a choppy ride.

that rate hike was worthless!

Humorous blurb

"S&P says there's a limited chance they'll downgrade Japan"

HA! Yes, wouldn't it be great to downgrade the country we get all of our money from?

God this is boring... Wouldn't want to be making a living out of this price action!

yup.. and I missed a big move in ninja by 8 pips.

Should be some great support in ninja 90.7 .. I'll get long around there with a 15 pip stop and will re-enter 90.35 .. AWESOME support 90.2-90.3

Tomorrow I expect the big takedown - all because of gold. There is a lot of expires, 1100 calls (5000) and these are the final days to buy March futures for the delivery. This could well be a bottom for eur in this cycle, or a top in dollar - then it goes to 60s.
I don't know if you noticed, but in the last couple of months the eur has been attacked to prevent the usd from crushing. I know that situation in the EU is not good, and I think it will eventually fall apart (hope before my country enters), but the situation in the US is worse.

mmmm... don't know about that

George Soros would tend to disagree as well.

http://business.globaltimes.cn/world...02/507208.html

With the Euro falling apart we could potentially turn on the printing presses in order to pay our debts and not take too much of a hit due to the run to USD from EUR

I don't think it's time for the eur to fall apart yet. Anyway, the printing press is running at full speed and it will be a race to zero.

Don't think the euro will collapse. Maybe a slight pullback (although 136 seems to be like glue) followed by a selling opportunity down to the low 130's. In the meantime I've developed an unhealthy interest in the Danish women curling team, it's really helping my trading...

actually the US team is not too shabby.. the German team is horrifying.

I just bought ninja.. got a stop at 90.6

Wish I'd been awake to short eu near 137. I need an accomplice with insomnia!

Walter K. Eichelburg writes from Austria:


"Maybe the euro dies before the dollar - and will then be replaced.
For now several days I report on my gold website www.hartgeld.com about new replacement currencies for the euro:
a) a new German Mark seems currently to be in print or is already completed.
Several sources from the German government and the Bundesbank confirm this. Of course, there is no official confirmation available.
Maybe also other countries around Germany may use this new currency in a small currency union.
Also, sources tell, that if the need arises, it may be introduced overnight. This depends on the "Greek situation" among others.
German media within the last weeks have become very critical about the euro and warn about its demise. A controlled campaign?
b) Sources from France tell, that a new Gold Franc may be in preparation. But there is less detail available.
Introducing a new currency takes several years. It seems that some euro countries started this process maybe 2 years ago in total secrecy.
Now, it is time to let some details escape and to start a media campaign. This means, the time for the split up of the euro is not that far out.
It probably depends on the situation. It the euro crashes (probably in union with most other currencies) there will be a monetary reform where most of the debt and also the wealth it represents will be cancelled and a new currency is introduced. Maybe the situation of the banks is so bad, that it is the only way out for them.
Anyway, most bank accounts, life insurance policies, pensions funds are nothing more than virtual paper wealth. The real money behind them has been lost in myriads of bad loans to US subprime borrowers or the Greek government.
Also, there seems to be a hidden fight between the EU and its goverments on one side an the ECB on the other side. The politicans are mostly in favour of a bailout of bankrupt Greece (their voters are against it) and the ECB which ist very hawkish. Are the ECB guys fighting for their jobs, knowing the euro will be replaced when it crashes?
The story about the Gold Franc tells us, that successor currencies must have some backing. Either gold or in the German case it may be their exports.
We will probable see quite soon what happens when the gold price is not longer suppressible and explodes because the Big Money flees into it. Then there will be instant hyperinflation because everybody wants the get out of the money and will buy everything in sight.
But the best indicator will be the gold price. If the scheme of the CBs works, the masses will loose most of their wealth, probably 90% or so.
Best Regards, from cold Vienna, Austria"

Finally. The Germans won't let the banana countries sink them. I'm emotionally attached to the deutche mark - helped us to survive Yugoslav inflation (second largest, behind Zimbabwe) in the 80s.
Either way, they will at least divide euro, one for stable developed countries and one for the eastern block.

that confidence data murdered my ninja trade.

back in 90.15 with a 20 pip stop

I guess that 30 pip run up in Euro must have been fix related because it completely reversed