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  • #5,721
  • Mar 24, 2010 7:24am Mar 24, 2010 7:24am
Quoting NightMoves
Yep I agree, I think we have some distance yet before we see the reversal, the EU is really seeing some bad times right now, and I am no economist but I do know they need to come to sort of agreement before they dig a deeper hole. Everything runs in cycles and the economy is no different what makes this different this time is the way the economies are intertwined and now what ever happens one will effect all.

Yesrs ago it was not like like that, if a country had fallen on bad times they bailed themselves out but those days are gone now because...
yeah, I agree, what I don't understand is why the governments don't think about giving greece back their old currency, BUT letting it stay in the EU. Then the euro won't be affected, greece's currency will drop dramatically, thus making their products a lot more competitive on the global markets. This will make it in turn easier for greece to pay off debt, since they can export a lot more, and once they reached the required standards set by the EU, we can give them back the euro.
Well, just my opinion. Again, I am not an economist, so I don't know why they are not going that root.
  • #5,722
  • Mar 24, 2010 7:29am Mar 24, 2010 7:29am
My EU trade just exceeded the 300 pip mark. Crazy stuff.

--NM
  • #5,723
  • Mar 24, 2010 7:32am Mar 24, 2010 7:32am
Quoting NightMoves
My EU trade just exceeded the 300 pip mark. Crazy stuff.

--NM
  • #5,724
  • Mar 24, 2010 7:33am Mar 24, 2010 7:33am
Quoting Paulette
I am thinking some more downward movement on EUR/USD, but gradual.

This is an interesting view I received "Intraday Market Thought: ... Much is being said about rumours of an IMF-led deal for Greece, but the technicals suggest any bounce will be short-lived...
I think they forgot that news don't care about technicals.
  • #5,725
  • Mar 24, 2010 7:35am Mar 24, 2010 7:35am
Quoting Custos
yeah, I agree, what I don't understand is why the governments don't think about giving greece back their old currency, BUT letting it stay in the EU. Then the euro won't be affected, greece's currency will drop dramatically, thus making their products a lot more competitive on the global markets. This will make it in turn easier for greece to pay off debt, since they can export a lot more, and once they reached the required standards set by the EU, we can give them back the euro.
Well, just my opinion. Again, I am not an economist, so I don't know...
Thats a good question, I am no economist either but that does make sense, but only to us because were not economists and of course it would be simple and economy cannot be simple because then everyone could be an economist...LOL

--NM
  • #5,726
  • Mar 24, 2010 7:38am Mar 24, 2010 7:38am
Quoting Custos
I think they forgot that news don't care about technicals.
You are correct about that, and unless the news really huge and earth shattering this is going to continue unless of course the BoE steps in like the SNB and the BoJ does, I think the BoJ does it just to watch traders squirm around...LOL they seem to come out play quite often.

--NM
  • #5,727
  • Edited 8:28am Mar 24, 2010 7:47am | Edited 8:28am
The USDJPYis now in an interesting spot too.
--NM
Attached Image (click to enlarge)
Click to Enlarge Name: Daily.png Size: 34 KB
  • #5,728
  • Mar 24, 2010 7:50am Mar 24, 2010 7:50am
Quoting NightMoves
The USDCAD is now in an interesting spot too.
--NM
Are you sure this is the usdcad? mine looks quite different.
  • #5,729
  • Mar 24, 2010 7:51am Mar 24, 2010 7:51am
Quoting Custos
yeah, fundamentally I think the usd has to devalue pretty soon. The FED pumped 1 trillion $ into the market last year, there's gotta be some kind of inflation. And I don't think that greece is still a big problem. I really don't think that the EU will kick greece out or let it default. Thus I think the eur/usd will find a bottom in the upcoming few weeks.

What do you guys think?
Chart wise it certainly looks promising imo
I do wish all of you here are right as i do have vested interest.
Before April fools day, we should have better clarity
cheers
  • #5,730
  • Mar 24, 2010 7:53am Mar 24, 2010 7:53am
Quoting Custos
Are you sure this is the usdcad? mine looks quite different.
I suppose it's USDJPY
  • #5,731
  • Mar 24, 2010 7:54am Mar 24, 2010 7:54am
Quoting A 5
I suppose it's USDJPY
yeah you are right, fits much better with usdjpy
  • #5,732
  • Mar 24, 2010 7:57am Mar 24, 2010 7:57am
Quoting NightMoves
You are correct about that, and unless the news really huge and earth shattering this is going to continue unless of course the BoE steps in like the SNB and the BoJ does, I think the BoJ does it just to watch traders squirm around...LOL they seem to come out play quite often.

--NM
BOJ and SNB are indeed enjoying the fun at everyone's expense every so often...

In sheer frustration / desperation I looked at signals & fundamental opinions - what a hoot, the only winner was the provider, success rates dipped between 45% - 65% with the strap-line "trading is a risk"...

Still the way to go: "trade what you see / plan your trade and let the market come to you"...
  • #5,733
  • Mar 24, 2010 8:00am Mar 24, 2010 8:00am
Quoting NightMoves
The USDCAD is now in an interesting spot too.
--NM
Captain Morgan? Hai Sir, it looks like USD/JPY?
  • #5,734
  • Mar 24, 2010 8:08am Mar 24, 2010 8:08am
Quoting Custos
yeah, I agree, what I don't understand is why the governments don't think about giving greece back their old currency, BUT letting it stay in the EU. Then the euro won't be affected, greece's currency will drop dramatically, thus making their products a lot more competitive on the global markets. This will make it in turn easier for greece to pay off debt, since they can export a lot more, and once they reached the required standards set by the EU, we can give them back the euro.
Well, just my opinion. Again, I am not an economist, so I don't know...
I read that Fitch has downgraded Portugal to AA-
this may have an implication on the EU

EDIT: http://www.google.com/hostednews/afp...Nhs6vHw_jD3AAw
  • #5,735
  • Mar 24, 2010 8:26am Mar 24, 2010 8:26am
Quoting Paulette
Captain Morgan? Hai Sir, it looks like USD/JPY?
Nice catch that was the USDJPY...LOL I guess I need to pay attention to what I am typing I look at one chart while I am typing on another LMAO...

--NM
  • #5,736
  • Mar 24, 2010 8:36am Mar 24, 2010 8:36am
Quoting Paulette
Captain Morgan? Hai Sir, it looks like USD/JPY?
Hahaha I made the change to it...

--NM
  • #5,737
  • Mar 24, 2010 8:45am Mar 24, 2010 8:45am
Quoting NightMoves
The USDJPYis now in an interesting spot too.
--NM
The CHFJPY is in a similar fashion
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPY Mar. 24 21.40.jpg Size: 151 KB
  • #5,738
  • Mar 24, 2010 8:53am Mar 24, 2010 8:53am
Quoting A 5
The CHFJPY is in a similar fashion
The CHFJPY imo is really in an unclear direction, looking at the Daily and weekly it has gone above some pretty strong resistance and whether or not it stays there is anyones guess but that pair to me is just not showing me where it really wants to go.

--NM
  • #5,739
  • Edited 9:30am Mar 24, 2010 9:16am | Edited 9:30am
Quoting NightMoves
The CHFJPY imo is really in an unclear direction, looking at the Daily and weekly it has gone above some pretty strong resistance and whether or not it stays there is anyones guess but that pair to me is just not showing me where it really wants to go.

--NM
Thanks for your response
Point noted
Should it clear the daily 100 MA, can this be considered a trend Line Collapse
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPY D1 Mar. 24 22.14.gif Size: 30 KB
  • #5,740
  • Mar 24, 2010 9:55am Mar 24, 2010 9:55am
Quoting A 5
Thanks for your response
Point noted
Should it clear the daily 100 MA, can this be considered a trend Line Collapse
I know what your saying and it might go down again, it has broken out of range it has been in and has retraced back to the range, so anything is possible I will be watching it but at the moment I am not to eager to jump on it for longer term trades but who knows it could drop like someone pulled the rug out from under it.

--NM
Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPY Big mess.png Size: 39 KB
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