Attachments: EURUSD

EURUSD

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#285,261
Aug 24, 2010 6:50am Aug 24, 2010 6:50am

sisse
Joined Mar 2010 | Status: Technical Fundamentalist | 11,563 Posts

CL is also testing a even more important support and it already breached 72.75. I agree with 71.00. Below that is back to recession levels. IMO, For the Euro a "normal" US opening with expected home sales can close the day very early (choppy small range during all US session) until tomorrow.

sisse

Quoting Z3iz3i

Disliked

Yup, thats true.

Retrace seems to be over now, so will see if bears re-position before news and NY closer to 1.26.

It looks that Crude will hit at least 71.00 tonite.

Ignored

Pending conversations? PM for a chat...I am mainly in OTM now

#285,262
Aug 24, 2010 6:59am Aug 24, 2010 6:59am

digitus
| Joined Jan 2010 | Status: Trader | 1 Post

I am a relative beginner (not a pure newbie) in Fx, but lurking around this site quite a lot, and also learned a lot from your posts here, so big thanx to everyone here for all your sharing.

Maybe I should post this in newbies thread, but I wanted to get an opinion from experienced traders. I notice this in (lets say) start of an third leg of an uptrend in first pic and following it since. Is that a legitimate Elliot 5-3 pattern?

Second thing (pic2) is from very same chart and showing head and shoulder pattern (already broken neckline).

Both pics (including my 200EMA) are showing relative stable downtrend, possibly all the way to around 1.216 in next month (maybe quarter/half way this month).

So... a short retrace to the neckline and (if not seriously broken) then all the way down.
Is there any weight in my speculations/analysis or should I study things again?

Here, my first post. Flame away freely, I have a thick skin.

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#285,263
Aug 24, 2010 7:00am Aug 24, 2010 7:00am

yaed
Joined Jul 2010 | Status: Determined | 5,346 Posts

Do any of you guys have a 0 spread for EUR/USD?
If not do you know anybody that has and what they paid for that, and with which broker?

My signature is: "Classified".

#285,264
Aug 24, 2010 7:05am Aug 24, 2010 7:05am

sopel
| Joined Nov 2009 | Status: Trader | 210 Posts

There is no something like 0 spread.
I saw year ago add:"Spread is dead", don't remember which broker but you have to pay commision for each transaction, and it was even worse than spread for majors, but better for exotic pairs.

#285,265
Aug 24, 2010 7:07am Aug 24, 2010 7:07am

Z3iz3i
Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts

Right now before news at www.marketwatch.com

Index Futures:

S&P 500 1,056 -11.10 -1.04%
DOW 10,087 -70.00 -0.69%
NASDAQ 1,796 -18.0 -1.10%

They think they are smarter than I am.

#285,266
Aug 24, 2010 7:08am Aug 24, 2010 7:08am

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

25/30 should cap this bounce..

Look Sharp/Trade Tight

#285,267
Aug 24, 2010 7:11am Aug 24, 2010 7:11am

yaed
Joined Jul 2010 | Status: Determined | 5,346 Posts

Quoting sopel

Disliked

There is no something like 0 spread.
I saw year ago add:"Spread is dead", don't remember which broker but you have to pay commision for each transaction, and it was even worse than spread for majors, but better for exotic pairs.

Ignored

For the right stack of cash, a lot of stuff is for sale

My signature is: "Classified".

#285,268
Aug 24, 2010 7:14am Aug 24, 2010 7:14am

Buai
| Joined Jun 2009 | Status: Trader | 183 Posts

Quoting yaed

Disliked

Do any of you guys have a 0 spread for EUR/USD?
If not do you know anybody that has and what they paid for that, and with which broker?

Ignored

I generally get 0.6, and at times get 0. But not very often.

#285,269
Aug 24, 2010 7:19am Aug 24, 2010 7:19am

PayTheLimit
Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts

Finally

Look Sharp/Trade Tight

#285,270
Aug 24, 2010 7:21am Aug 24, 2010 7:21am

cannarek
| Joined Jun 2006 | Status: nothing is new in the world | 804 Posts

Quoting digitus

Disliked

I am a relative beginner (not a pure newbie) in Fx, but lurking around this site quite a lot, and also learned a lot from your posts here, so big thanx to everyone here for all your sharing.

Ignored

welcome

#285,271
Aug 24, 2010 7:21am Aug 24, 2010 7:21am

sdsarmad
| Membership Revoked | Joined Aug 2009 | 91 Posts

The downtrend in euro continued yesterday breaching the 55 day m.a and has extended to 1.2620 so far . we are within touching distance of my initial target of 1.2600 and there is little evidence of a bounce as yet .

I continue to hold core shorts and fully expect barrier stops at 1.2600 to be tripped today especially looking at the offered tone of cable and commonwealths . As with yesterday these markets will hold the clues to and extension for eurusd with ultimate targets of 1.2420-60 very possible should "risk" continue to slip .

I have one slight change to my plans today , where as I have been happy to sell rallies recently I do not feel the same way at the moment . I sense the market is starting to get short and whilst we have momentum that is no issue , but should we start to regain 1.2690 and 1.2730 I feel a more dramatic squeeze could be afoot - so above 1.2700 I walk away from short eurusd …for now ..

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