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  • #275,761
  • Jul 28, 2010 9:09am Jul 28, 2010 9:09am
guys, may be you get one more chance today.
I'm out, thanks to Cable.

The problem right now is, that no initial move can start unless there is ANY clue why it should start. They only direction would be up after todays news but that is not wanted by 500pips big boys who have to cover their positions and they don't want to begin before retrace -> sideway.

Bye Jack
  • #275,762
  • Jul 28, 2010 9:11am Jul 28, 2010 9:11am
Quoting FxCba
Sorry
I'm talking about intraday movement only, as you can see PA is stucked right now, it's 2nd round
Intraday? I'm not talking about weekly chart or daily... I trade intraday indeed, that means 7-8 hours of JOJO around 1.30... trust me pal there is no way to take this as 1st or 2nd round... but new candle... new hope.
  • #275,763
  • Jul 28, 2010 9:13am Jul 28, 2010 9:13am
Quoting sisse
Ubaidasan,

Aussie is down becasue of gold, pound is high because big macroeconic good numbers. Euro is stuck because good macro numbers but I think big selling was taking place before the stress bank that were not that bad at the end. So i do agree with momentum up daily & above but I think it need a small weekly breath before continue... we'll see

sisse
Sisse

Aussie has nothing to do with GOLD

GOld is down since past week but aussie was going up strongly without correction...you are right heavy selling in EU on stress test but it is unclear right now trying both side but not going anywhere ..let see where it goes..we can't go long in GU also its on top lol

Ub
  • #275,764
  • Jul 28, 2010 9:17am Jul 28, 2010 9:17am
Quoting Atomanti
Intraday? I'm not talking about weekly chart or daily... I trade intraday indeed, that means 7-8 hours of JOJO around 1.30... trust me pal there is no way to take this as 1st or 2nd round... but new candle... new hope.
Weell, as I can see price dropped from 1.304 on London open to 1.2975 (75 pips) more or less, I was sleeping at thaqt time, from Nyc open had climbed 40 pips, good enough for intraday action, isnt it?
  • #275,765
  • Jul 28, 2010 9:20am Jul 28, 2010 9:20am
Quoting FxCba
Weell, as I can see price dropped from 1.304 on London open to 1.2975 (75 pips) more or less, I was sleeping at thaqt time, from Nyc open had climbed 40 pips, good enough for intraday action, isnt it?
It is almost a scalper's heaven, is trading a very predictable range, hope it remains like that till Monday, lol!
  • #275,766
  • Jul 28, 2010 9:22am Jul 28, 2010 9:22am
Quoting ubaidahsan
Sisse

Aussie has nothing to do with GOLD

GOld is down since past week but aussie was going up strongly without correction...you are right heavy selling in EU on stress test but it is unclear right now trying both side but not going anywhere ..let see where it goes..we can't go long in GU also its on top lol

Ub

this is incorrect.....the smaller the supply in gold, the higher the demand for the aud. Australia is one of the top 5 gold producing countries in the world......You gotta look at a longer tf to spot their correlations.
  • #275,767
  • Jul 28, 2010 9:26am Jul 28, 2010 9:26am
Quoting kandarv
It is almost a scalper's heaven, is trading a very predictable range, hope it remains like that till Monday, lol!
Exactly... if someone goes for 10-20 pips/trade well it can be nice... intraday trading does not equal with scalping in my dictionary. I'd love to see the pair leaving this mess, so we can trade seriously...
  • #275,768
  • Jul 28, 2010 9:31am Jul 28, 2010 9:31am
Quoting mfoste1
this is incorrect.....the smaller the supply in gold, the higher the demand for the aud. Australia is one of the top 5 gold producing countries in the world......You gotta look at a longer tf to spot their correlations.
thanks...watching EU and waiting for 3060 level which is looking possible what do you say?

Ub
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  • #275,769
  • Jul 28, 2010 9:31am Jul 28, 2010 9:31am
oil is gonna drop..
those who can, do. those who cant, talk about those who can
  • #275,770
  • Jul 28, 2010 9:34am Jul 28, 2010 9:34am
Quoting ubaidahsan
thanks...watching EU and waiting for 3060 level which is looking possible what do you say?

Ub
I dont see any trades atm......oil supply rises prices fall, usd strengthens.....
  • #275,771
  • Jul 28, 2010 9:34am Jul 28, 2010 9:34am
Quoting gatorinla
oil is gonna drop..
Oil drop = USD drop right??it means we are heading up again now?

Ub
  • #275,772
  • Jul 28, 2010 9:38am Jul 28, 2010 9:38am
Quoting gatorinla
oil is gonna drop..
what's up with copper this week ?
hang on to your bread......unless you want toast
  • #275,773
  • Jul 28, 2010 9:38am Jul 28, 2010 9:38am
Maybe is a topic for a different thread but i completely disagree with you on the GOLD/Aussie correlation ... I can send you some charts after hours ... In any case:

"Gold traders may also be surprised to hear that trading the Australian dollar is just like trading gold in many ways. As the world's third-largest producer of gold, the Australian dollar had an 84% positive correlation with the precious metal between 1999 and 2008. Generally speaking, this means that when gold prices rise, the Australian dollar appreciates as well. The proximity of New Zealand to Australia makes Australia a preferred destination for exporting New Zealand goods. Therefore, the health of New Zealand's economy is closely tied to the health of the Australian economy, which explains why the NZD/USD and the AUD/USD have had a 96% positive correlation over the same time period. The correlation of the NZD/USD with gold is slightly less than that of the Australia dollar but is still strong at 78%."

Of course this is copy/paste from investopedia which is not the "source" for proper discussion... I will send give you my own arguments later on PM...

sisse

Quoting ubaidahsan
Sisse

Aussie has nothing to do with GOLD

GOld is down since past week but aussie was going up strongly without correction...you are right heavy selling in EU on stress test but it is unclear right now trying both side but not going anywhere ..let see where it goes..we can't go long in GU also its on top lol

Ub
Pending conversations? PM for a chat...I am mainly in OTM now
  • #275,774
  • Jul 28, 2010 9:39am Jul 28, 2010 9:39am
Quoting mfoste1
I dont see any trades atm......oil supply rises prices fall, usd strengthens.....
Thank you for backing me up... There is no trade on the market... Cheers!
  • #275,775
  • Jul 28, 2010 9:40am Jul 28, 2010 9:40am
Quoting ubaidahsan
Oil drop = USD drop right??it means we are heading up again now?

Ub

If oil drops then USD strengthens and EU falls.
  • #275,776
  • Jul 28, 2010 9:41am Jul 28, 2010 9:41am
Quoting ubaidahsan
Oil drop = USD drop right??it means we are heading up again now?

Ub
Depends on the USD pair

Oil drop = rally USD/CAD
  • #275,777
  • Jul 28, 2010 9:42am Jul 28, 2010 9:42am
Quoting ubaidahsan
Oil drop = USD drop right??it means we are heading up again now?

Ub
Oil has been dropping but it recently got a pop up.

But generally oil and the dollar are inversely correlated.
  • #275,778
  • Jul 28, 2010 9:42am Jul 28, 2010 9:42am
EU drops with drop in Oil prices and not rises. USD is inversely co-related to Oil.
  • #275,779
  • Jul 28, 2010 9:46am Jul 28, 2010 9:46am
IMO, It will depend on what context. Today Crude Oil Inventories were awful, meaning the correlation goes to a weaker US economic output and not to the inflationary pressures (when is related to oil price) meaning bearish for the dollar and that's why Euro is attempting to test the highs again.

Sisse

Quoting Purple
EU drops with drop in Oil prices and not rises. USD is inversely co-related to Oil.
Pending conversations? PM for a chat...I am mainly in OTM now
  • #275,780
  • Jul 28, 2010 9:47am Jul 28, 2010 9:47am
Quoting gatorinla
oil is gonna drop..
and not Euro ... for now
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