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EURUSD

  • #289,381
  • Sep 7, 2010 2:10am Sep 7, 2010 2:10am
Quoting Tkb
Am I the only one seeing GBPUSD usually leading EURUSD one way or another in todays market?

Why would that be do you think?

Some kind of carry trade?
It's not always like this - it's usually very hard to tell which pair is the leading one. If it was possible trading would be pretty easy. Though both pairs have high positive correlation on daily basis, they tend to move in different directions pretty often.
  • #289,382
  • Sep 7, 2010 2:10am Sep 7, 2010 2:10am
Quoting Mr Hatch
alright, when i look at the spezified zone over time, i can see why you call it mofu...

is the zone acting according to its name right now or are we inviting london to participate?
well here is the baby bull trying to develop. he has his own mofu.. rejected thus far.. there are no bulls w/o 2846.. valid w/o a new low..
Attached Image
those who can, do. those who cant, talk about those who can
  • #289,383
  • Sep 7, 2010 2:11am Sep 7, 2010 2:11am
Quoting kuroro001
I was planning to do the same, but by looking at the hourly PA, the move up might be bigger than expected, if london prints another pinbar like frankfurt we might go back to 1,2900
yes agreed.. it might be go up to touch 2947 if it breaks above 2843..
  • #289,384
  • Sep 7, 2010 2:12am Sep 7, 2010 2:12am
Quoting Sunsi
What do you mean by that ?
watch
those who can, do. those who cant, talk about those who can
  • #289,385
  • Sep 7, 2010 2:15am Sep 7, 2010 2:15am
Quoting gatorinla
well here is the baby bull trying to develop. he has his own mofu.. rejected thus far.. there are no bulls w/o 2846.. valid w/o a new low..
damn, whenever i think i understood one thing, you come up with the next one i don't... i can't identify the different sentimentals...
  • #289,386
  • Sep 7, 2010 2:17am Sep 7, 2010 2:17am
We still have unfinished business at 1.24, so longs beware. (GU to 1.48 too). The last push up to 1.29 was a trap IMO.

Selling all rallies here.

Also, worth keeping a wee eye on this.....

Attached Image (click to enlarge)
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  • #289,387
  • Sep 7, 2010 2:19am Sep 7, 2010 2:19am
out in gu at 5417.. what quick trade.. now continued to concentrate on eu
  • #289,388
  • Sep 7, 2010 2:21am Sep 7, 2010 2:21am
I predict streams of beer, mountains of blow, valleys of wine, while they go through the USD manipulation day.

(inb4 EU daily close around 1.2870 via fibo retrace)
  • #289,389
  • Sep 7, 2010 2:23am Sep 7, 2010 2:23am
Just heard on the news that the finance ministers of Europe have discovered that due to European law being what it is, it is not possible to punish member states that break the budget requirements.

Apparently it will only be possible to do so within the Euro area itself.

This could be why the Eur is sinking against the other European currencies and why it appears as if GBPUSD is leading. It is not leading, it has got its own life.
  • #289,390
  • Sep 7, 2010 2:30am Sep 7, 2010 2:30am
Quoting ukdaytrader
We still have unfinished business at 1.24, so longs beware. (GU to 1.48 too). The last push up to 1.29 was a trap IMO.

Selling all rallies here.

Also, worth keeping a wee eye on this.....

Attachment
Are you a scot by the way. Unfinished business indeed, things even out eventually.
  • #289,391
  • Sep 7, 2010 2:34am Sep 7, 2010 2:34am
truth is we havent gone anywhere is the last 6 hrs or so....
Look Sharp/Trade Tight
  • #289,392
  • Sep 7, 2010 2:37am Sep 7, 2010 2:37am
Quoting Mr Hatch
damn, whenever i think i understood one thing, you come up with the next one i don't... i can't identify the different sentimentals...
there are dozens of moves gone on at the same time. many can be true at the same time. even with different directions. we are in a larger move from 1.6 to .8580.. there are many moves within this move. we need momentum to cross mofus. look at any tf and they are there.. 1869 was one.. we got to 1876 and we were rejected. most trends are reversed by them .. they act as gravity then spit you out. a merry go round after.. if you dont have momentum you don't cross.
Attached Image (click to enlarge)
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those who can, do. those who cant, talk about those who can
  • #289,393
  • Sep 7, 2010 2:37am Sep 7, 2010 2:37am
from http://www.actionforex.com/trading-s...0100907121763/

EUR/USD – 1.2800

Most recent candlesticks pattern : N/A
Trend : Near term up

Tenkan-Sen level :1.2829
Kijun-Sen level :1.2850
Ichimoku cloud top :1.2872
Ichimoku cloud bottom :1.2840

Original strategy :

Sell at 1.2960, Target: 1.2860, Stop: 1.3010

New strategy :

Sell at 1.2850, Target: 1.2750, Stop: 1.2900

Euro’s broke below indicated support at 1.2856 (previous resistance) this morning and has tumbled below the Ichimoku cloud, signaling top has been formed at 1.2920 and consolidation with downside bias is seen for weakness towards 1.2744-54 (previous resistance and 50% Fibonacci retracement of 1.2588 to 1.2920), however, near term oversold condition should limit downside to 1.2715 (61.8% Fibonacci retracement) and bring rebound later.

In view of this, we are looking to sell on recovery as renewed selling interest should emerge around the Kijun-Sen (now at 1.2850). Above 1.2900 would risk retest of 1.2920/23 resistance, break there would extend gain towards 1.2960/65 (50% Fibonacci retracement of 1.3334-1.2588) before another strong retreat.
  • #289,394
  • Sep 7, 2010 2:37am Sep 7, 2010 2:37am
Quoting Chicky
Frankies are about to wipe their butts with traders' best laid plans.
They need fresh supply of wipes.
The Thief of Wall Street
  • #289,395
  • Sep 7, 2010 2:38am Sep 7, 2010 2:38am
Quoting PayTheLimit
truth is we havent gone anywhere is the last 6 hrs or so....
No straight lines, my friend.....no straight lines....
  • #289,396
  • Sep 7, 2010 2:38am Sep 7, 2010 2:38am
Quoting PayTheLimit
truth is we havent gone anywhere is the last 6 hrs or so....
speak for yourself, I've gone from the bedroom, to the office, to the kitchen, back to the office, and soon out the door to the bank.
  • #289,397
  • Sep 7, 2010 2:39am Sep 7, 2010 2:39am
Quoting PayTheLimit
truth is we havent gone anywhere is the last 6 hrs or so....
you could have a point here, on 15min-chart the volume lowers and the last high-volume bar was bullish, so that could imply that smart money is not interested in driving the thing down... for now that is.
  • #289,398
  • Sep 7, 2010 2:41am Sep 7, 2010 2:41am
Price below WP and MP just needs to break TL. Hope its not a fakeout like the last time as short from 2830 and 2825
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  • #289,399
  • Sep 7, 2010 2:42am Sep 7, 2010 2:42am
GU seems to be upside orientated today regarding London open.

JPY/CHF crosses are about ready to swing upside, EG is supported at .8300

Interesting day ahead.
They think they are smarter than I am.
  • #289,400
  • Sep 7, 2010 2:43am Sep 7, 2010 2:43am
i dont think the pin bar on the hourly is valid, the bar prior to it has its close too low and not level with the pinbar close for it to be a valid pinbar, it could be atypical, but im a newbie, but i dont think its valid
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