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  • #300,741
  • Oct 5, 2010 3:01am Oct 5, 2010 3:01am
Quoting Alexgee
Amazing timing isn't it, I was thinking the same, but on the other hand there have been rumblings the last few weeks.

I can't imagine that EU is going to sit iddle and see their currency appreciate so much as it hurts their exports in a big way. I read on zero hedge some guy saying there is a currency war going on, every country trying to lower their value. These guys forget what a devalued currency does for its citizens in terms of consumer prices.
this is my personal view. but as a trader. permabulls or permabears are bad places to hang out. So zero hedge is one of the worst biased blog.

Try to avoid places where they only see the bright side or the darkest side of the market.

Markets don't care about our opinion or hopes.

this is just personal opinion
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #300,742
  • Oct 5, 2010 3:02am Oct 5, 2010 3:02am
Quoting mercy seat
http://cdn.forexfactory.com/images/attach/pdf.gif

2010-10-05_Forex Focus (09h33 CET) Policy Divide Makes Currencies Less Predictable.pdf (11.8 KB)


Forex Focus: Policy Divide Makes Currencies Less Predictable
05 Oct 2010, 09:33

By Nicholas Hastings
A DOW JONES NEWSWIRES COLUMN

LONDON (Dow Jones)--Currency forecasting just became even more unpredictable.



;-)


http://cdn.forexfactory.com/images/attach/pdf.gif

2010-10-05_European Forex Technicals (08h43 CET) EUR Uptrend Over Against GBP, CHF.pdf (13.2 KB)



European Forex Technicals: EUR Uptrend Over Against GBP, CHF

5 Oct 2010, 08:43

By Francis Bray
A DOW JONES NEWSWIRES COLUMN

LONDON (Dow Jones)--Rolling 24-hour chart levels:

Intraday EUR/USD: recovers off 1.3637 Tuesday and looks to force a break above projected resistance at 1.3694. A sustained break above 1.3694 would leave 1.3637 as a nearterm
bear failure, prompting a recovery towards 1.3723 and the 1.3785 intraday high. However, caution lies in the form of a dark cloud cover candle Monday, suggesting a lot of work
is needed before opening Monday's high at 1.3809. A break below 1.3637 would prompt weakness to 1.3580 and 1.3559.

Weekly chart EUR/USD trend: Bullish.



Intraday USD/JPY: builds on the corrective recovery off Friday's marginal low at 83.15 to test 84.00. However, solid resistance lies at 84.12 in the form of former range lows that have
reverted to resistance and 84.12 has become a short-term pivotal level. A break below 83.42 would prompt a return to the 83.15 low, threatening further weakness towards the mid-
Sep. 15-year low at 82.87.

Weekly chart USD/JPY trend: Bearish.



Intraday GBP/USD: remains trapped within the Sep. 30 1.5923/1.5671 range, but there is a slight skew to the upside which suggests resistance at 1.5870 will face a retest. A
sustained break above 1.5870 would put bulls in control of the near-term, opening the 1.5923 peak which protects the Aug. 6 reaction high at 1.5998. Only a break below support at
1.5745 would negate the positive outlook, exposing 1.5671. .

Weekly chart GBP/USD trend: Bullish.



Intraday USD/CHF: bears continue to pile pressure on 0.9700 following Monday's fresh 30-month low. Downside wave equality targets lie congested at 0.9670 and a 1.618
Fibonacci extension target projected off the 1.0183 lower high at 0.9625 still remains the main objective. Only a break above 0.9789 would question the bearish outlook.

Weekly chart USD/CHF trend: Bearish.
Attached File(s)
File Type: pdf 2010-10-05_European Forex Technicals (08h43 CET) EUR Uptrend Over Against GBP, CHF.pdf   13 KB | 308 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #300,743
  • Oct 5, 2010 3:02am Oct 5, 2010 3:02am
some of these hot legs won't give you a retrace, just a dcb. Been caught watching the train leave the station more times than I can count.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #300,744
  • Oct 5, 2010 3:04am Oct 5, 2010 3:04am
Quoting chonchy
I got entrie orders at 3750, 3800, 3850 and 3900 sl +1 ASAP
first entrie hit at 3750 short, and second will be hit too at 3800 and hopefully close my 3777 long from previus, good luck to you too guys
The Chonchy
  • #300,745
  • Oct 5, 2010 3:04am Oct 5, 2010 3:04am
Quoting The Fool
some of these hot legs won't give you a retrace, just a dcb. Been caught watching the train leave the station more times than I can count.
I hear you brother...dammed if you do, dammed if you dont
Look Sharp/Trade Tight
  • #300,746
  • Oct 5, 2010 3:06am Oct 5, 2010 3:06am
Lovely PA and a pleasant good call today (free profitable trade: long from 13646)
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #300,747
  • Oct 5, 2010 3:07am Oct 5, 2010 3:07am
Good for today 50 pips
  • #300,748
  • Oct 5, 2010 3:08am Oct 5, 2010 3:08am
Quoting T@rantula
technicals explain it all.
Can you help to explain to who dont see it?
  • #300,749
  • Oct 5, 2010 3:10am Oct 5, 2010 3:10am
Quoting Creator
Short doesn't look to bad here IMO (1.377)
It`s more of a gamble if the pair holds under 1.3770. But with a thight stoploss it could be decent.
  • #300,750
  • Oct 5, 2010 3:10am Oct 5, 2010 3:10am
Quoting Sunsi
Ya i does!
What where your reason to get in this trade?
Quoting T@rantula
3672 is important PP. Loss of 3702 indicates a consolidating market. Possible range if EU falls below 3672. 3641-3702 could be range. Above 3702 we can expect bullish PA which could lead to 3763 and a later retest of 3800 levels.

Analyzing weekly charts, my conclusion is that EUR aims for 3900 levels. Above 3900 (+ some overshoot) resistance will be extraordinary tough.
I explained a part of my strategy a couple of days ago.


Quoting T@rantula
Intraday EU targets are spotted during a trend consolidation in late asia watching daily and hourly timeframes
  • #300,751
  • Oct 5, 2010 3:10am Oct 5, 2010 3:10am
Quoting The Fool
some of these hot legs won't give you a retrace, just a dcb. Been caught watching the train leave the station more times than I can count.
Yup but one gets better all the time right?

I think it will create a bull flag at the top bottom being at 1.3750/60 and developing another setup to break 1.38 and go for likely to test 1.3830/40.
They think they are smarter than I am.
  • #300,752
  • Edited 3:24am Oct 5, 2010 3:12am | Edited 3:24am
http://cdn.forexfactory.com/images/attach/gif.gif

2010-10-05 _ zigzagtracktracer (10h04 CET) EUR-USD 005min _ 000.GIF (31.6 KB)


Long since Asian Session ... as mentioned in our friends friendly hideaway section after BoJ Statements ...

First TGT ... in line with TA from Francis Bray (he suggested 1.3785) ... aprox. 1.3771 (DPR-1) has been hit ...

Second TGT ... 1.3858 (DPR-2) in case of another NY Session extention ...

;-)
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-10-05 _ zigzagtracktracer (10h04 CET) EUR-USD 005min _ 000.GIF Size: 32 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #300,753
  • Oct 5, 2010 3:14am Oct 5, 2010 3:14am
Quoting Z3iz3i
Yup but one gets better all the time right?

I think it will create a bull flag at the top bottom being at 1.3750/60 and developing another setup to break 1.38 and go for likely to test 1.3830/40.
And if we get real lucky, USD/JPY traders will push the BoJ to intervene, which will have a positive effect on EUR as well.

I'm looking forward to your bull flag too !
  • #300,754
  • Oct 5, 2010 3:15am Oct 5, 2010 3:15am
Quoting DMA Trader
this is my personal view. but as a trader. permabulls or permabears are bad places to hang out. So zero hedge is one of the worst biased blog.

Try to avoid places where they only see the bright side or the darkest side of the market.

Markets don't care about our opinion or hopes.

this is just personal opinion
Good point, thank you.
Alex
If only I knew then what I know now...
  • #300,755
  • Oct 5, 2010 3:15am Oct 5, 2010 3:15am
we have a double bottom on USX near 87 level. 4h chart.
Until we break that level. we can expect some sort of a bounce.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #300,756
  • Oct 5, 2010 3:15am Oct 5, 2010 3:15am
Looks like EURUSD will reach an important high of 1.40 by Oct 15th.
  • #300,757
  • Oct 5, 2010 3:15am Oct 5, 2010 3:15am
Quoting Z3iz3i
Yup but one gets better all the time right?

I think it will create a bull flag at the top bottom being at 1.3750/60 and developing another setup to break 1.38 and go for likely to test 1.3830/40.
I agree. But I woulden`t be surprised to see the flagbottom at 1.3740 area.
  • #300,758
  • Oct 5, 2010 3:16am Oct 5, 2010 3:16am
Maybe one small new upmove is in the cards....
  • #300,759
  • Oct 5, 2010 3:16am Oct 5, 2010 3:16am
Quoting Z3iz3i
Yup but one gets better all the time right?

I think it will create a bull flag at the top bottom being at 1.3750/60 and developing another setup to break 1.38 and go for likely to test 1.3830/40.
Patience. I don't chase these tops - wait for another leg up I can see. I might not get all of it but at least I don't give up what I scored on the breakout before it.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #300,760
  • Oct 5, 2010 3:20am Oct 5, 2010 3:20am
and short one more, tight SL
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