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  • #266,741
  • Jul 2, 2010 9:14am Jul 2, 2010 9:14am
Quoting Awesome
Euro being propped up, shorts are all scared shitless now.
Just interested in how you think they are propping it up. I agree that something isn't right. Any clues and how long can it last?
  • #266,742
  • Jul 2, 2010 9:16am Jul 2, 2010 9:16am
Quoting Trading Cat
.
Trading Cat, how do I find those Sostratos pages you post? I found sostratos.com (and a few similar like sites) a while back when reading these pages, but I can't find my way to that Daily Strategy.

Happy Days :-)
  • #266,743
  • Jul 2, 2010 9:18am Jul 2, 2010 9:18am
China sold at 1.26 today and bought at 1.220 yesterday interesting day ahead
  • #266,744
  • Jul 2, 2010 9:18am Jul 2, 2010 9:18am
Quoting SkyzerFX
Don't confuse public minimize your chart and look larger picture.

To break downtrend line EU needs to go over 1.28.

1.2674 FIBs 23.6 on the way.. Don't think this going to go higher

than that.. Fundamentally speaking EU should be pushing 1.10 now..
i disagree, fundamentally speaking EUR/USD should be oscillating between 1.20 and 1.30 ... 1.1 would be undervalued, but that doesnt mean that it is not going to happen anyways
  • #266,745
  • Jul 2, 2010 9:18am Jul 2, 2010 9:18am
Quoting Trading Cat
.
Thanks TCat for posting this from Sostratos. They are right most of the days this week. I was wondering if they have predicted yesterday's bullish havoc! Did I miss your post yesterday?
  • #266,746
  • Jul 2, 2010 9:21am Jul 2, 2010 9:21am
If we break 1.26 and have a close above that there is nothing to stop it till 1.3
  • #266,747
  • Jul 2, 2010 9:21am Jul 2, 2010 9:21am
Quoting pdean123
Just interested in how you think they are propping it up. I agree that something isn't right. Any clues and how long can it last?
Propping what up exactly?
Data from the US all this week has been piss poor, whereas data from Europe has been less poor, (figuratively speaking). Look, I don't know exactly what is about to happen, but there is no such thing as propping up when we have seen such a move AND when we have no clue who's buying.

All this fair value stuff is nonsense IMO. Fair value compared to what?

Just go with the flow.
  • #266,748
  • Jul 2, 2010 9:23am Jul 2, 2010 9:23am
Quoting pdean123
Just interested in how you think they are propping it up. I agree that something isn't right. Any clues and how long can it last?

euro/usd pair is usually correlated with stocks and commodities. Last few days correlation has completely broken down. Very rare you see this moving up this much in a straight line without any retrace. This is because any selling pressure is being matched with somebody buying. US needed weaker dollar last few days to prevent free fall of US markets with critical levels being broken on S&P and all the negative economic news. Everything in all markets is related. When the correlation between stocks, bonds, commodities, currencies all breaks down, its because the markets aren't running freely, or in otherwords are being manipulated.
  • #266,749
  • Jul 2, 2010 9:28am Jul 2, 2010 9:28am
Quoting Awesome
euro/usd pair is usually correlated with stocks and commodities. Last few days correlation has completely broken down. Very rare you see this moving up this much in a straight line without any retrace. This is because any selling pressure is being matched with somebody buying. US needed weaker dollar last few days to prevent free fall of US markets with critical levels being broken on S&P and all the negative economic news. Everything in all markets is related. When the correlation between stocks, bonds, commodities, currencies all breaks down,...
Yup you are 100% right!
You don't see the selling of GOLD and the buying of EUR by the average Joe (us here) ... some major government and banks have definitely intervened with the last few day's PA...
AND PEOPLE MAKE FUN OF ME WHEN I SAY OUR WORLD IS GOING TO SHIT!
2012 PEOPLE...watch...
  • #266,750
  • Jul 2, 2010 9:28am Jul 2, 2010 9:28am
Quoting Forexfsa
China sold at 1.26 today and bought at 1.220 yesterday interesting day ahead
1.2535 short term support
  • #266,751
  • Jul 2, 2010 9:29am Jul 2, 2010 9:29am
Quoting vinesh2
If we break 1.26 and have a close above that there is nothing to stop it till 1.3
There is that weekly resistance at 2622 that I have been posting about since the 24th of last month. The break of 2600 could be the Friday trap for those looking to jump on this move after the fact. Proceed with caution as always. 1.3000 looks good but not today. back towards pivot around 2535 would be more likely to further frustrate those that missed the big move up to begin with.
  • #266,752
  • Jul 2, 2010 9:31am Jul 2, 2010 9:31am
Quoting ukdaytrader
Propping what up exactly?
Data from the US all this week has been piss poor, whereas data from Europe has been less poor, (figuratively speaking). Look, I don't know exactly what is about to happen, but there is no such thing as propping up when we have seen such a move AND when we have no clue who's buying.

All this fair value stuff is nonsense IMO. Fair value compared to what?

Just go with the flow.

Bad economic data from US usually causes US markets to go down which strengthens the dollar. Why was this thing dumping back in 2008 when banks were failing in US? Risk aversion..
  • #266,753
  • Jul 2, 2010 9:32am Jul 2, 2010 9:32am
Quoting Awesome
euro/usd pair is usually correlated with stocks and commodities. Last few days correlation has completely broken down. Very rare you see this moving up this much in a straight line without any retrace. This is because any selling pressure is being matched with somebody buying. US needed weaker dollar last few days to prevent free fall of US markets with critical levels being broken on S&P and all the negative economic news. Everything in all markets is related. When the correlation between stocks, bonds, commodities, currencies all breaks down,...
Interesting analysis. I am amazed with these two days madness too. I observed that only the few spiking EU candles is where the correlation between DJIA and EU breaks down and after that when EU is sideways with little movement, that is perfectly followed by the DOW. I also think that the spikes are the manipulations by big boys.
  • #266,754
  • Jul 2, 2010 9:34am Jul 2, 2010 9:34am
Multiple Asian central banks continue to SELL at 1.26
  • #266,755
  • Jul 2, 2010 9:37am Jul 2, 2010 9:37am
Quoting Awesome
euro/usd pair is usually correlated with stocks and commodities. Last few days correlation has completely broken down. Very rare you see this moving up this much in a straight line without any retrace. This is because any selling pressure is being matched with somebody buying. US needed weaker dollar last few days to prevent free fall of US markets with critical levels being broken on S&P and all the negative economic news. Everything in all markets is related. When the correlation between stocks, bonds, commodities, currencies all breaks down,...
So what typically happens after they are done intervening? Is that time for a retrace/resumption of prior trend?, or a new direction?
  • #266,756
  • Edited 9:43am Jul 2, 2010 9:42am | Edited 9:43am
Unlikely that the market gives up a 100 pip move to the newbies who missed the earlier move by blowing past a weekly resistance. Especially on a Friday. Much more likely to get 'em onboard just to leave them sad faced as I said before.
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  • #266,757
  • Jul 2, 2010 9:42am Jul 2, 2010 9:42am
Quoting Redeemed1
So what typically happens after they are done intervening? Is that time for a retrace/resumption of prior trend?, or a new direction?

If I knew I'd be taking over the world right now, not typing on this forum.
  • #266,758
  • Jul 2, 2010 9:46am Jul 2, 2010 9:46am
Quoting Forexfsa
Multiple Asian central banks continue to SELL at 1.26
1.26 failed again
  • #266,759
  • Jul 2, 2010 9:46am Jul 2, 2010 9:46am
Quoting Awesome
If I knew I'd be taking over the world right now, not typing on this forum.
LOL! I figured after your informative assessment you'd have somewhat of a clue...you're a funny one!
  • #266,760
  • Jul 2, 2010 9:48am Jul 2, 2010 9:48am
Is Monday going to be a bank holiday in US for Jul 4th?
Haste not to Enter AND Haste not to Exit !-TradeStar
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