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EURUSD

  • #302,161
  • Oct 6, 2010 6:14pm Oct 6, 2010 6:14pm
Quoting Redeemed1
No sign of BOJ yet
It'll be interesting to see if they will work towards confirming the double bottom forming on the USD/JPY chart right now. If I were in the BOJ I'd definitely want to use this formation to my benefit. So far it's holding, if barely so. I'm eagerly awaiting to see if they come again if the price starts breaking decisively the double bottom.
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  • #302,162
  • Oct 6, 2010 6:16pm Oct 6, 2010 6:16pm
Quoting Masrim
It'll be interesting to see if they will work towards confirming the double bottom forming on the USD/JPY chart right now. If I were in the BOJ I'd definitely want to use this formation to my benefit. So far it's holding, if barely so. I'm eagerly awaiting to see if they come again if the price starts breaking decisively the double bottom.
Looks like good spot for them to base off of. I would have thought it would have happened already though.
  • #302,163
  • Oct 6, 2010 6:21pm Oct 6, 2010 6:21pm
Quoting Redeemed1
Looks like good spot for them to base off of. I would have thought it would have happened already though.
Yes, they are taking their time. Perhaps they are watching the Nikkei which is still holding up well, infact, it's still at the highest levels it reached during the intervention even though USD/JPY is back at the bottom, or maybe they are scared by the general USD decline and don't want to get caught against the market too early. Also they might still be waiting to see if the market doesn't confirm alone the bottom in USD/JPY as so far it hasn't been broken well.
  • #302,164
  • Oct 6, 2010 6:21pm Oct 6, 2010 6:21pm
Any predictions for European session?
  • #302,165
  • Oct 6, 2010 6:22pm Oct 6, 2010 6:22pm
Quoting Redeemed1
Looks like good spot for them to base off of. I would have thought it would have happened already though.
I heard they were quietly on the bid last nite.

STG leading the way for a US dollar retracement IMO
  • #302,166
  • Oct 6, 2010 6:23pm Oct 6, 2010 6:23pm
So far the euro is obeying well the daily resistance: closed below it, and now continuing to retreat.
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  • #302,167
  • Oct 6, 2010 6:28pm Oct 6, 2010 6:28pm
Quoting The Fool
Could be amigo. Sometimes things get a little slow on the day or so before NFP, though, y'know. I wonder what they're thinking over at the B of J?
Do you realy think the Emperor wishes to trow money away when he know's the trend is strong and this idea maybe on the money makers, or market makers should i say, heads

the volume waighted EMA is turning down but if the PSar gets turn down is all up to the UTL at 4500 more or less, the volume is less than last candle but this is FSolution volume only so........
I don't know anymore it all depends on where do they want to take this, all the way up now, or retrace a bit to keep going north, only that some time retraces can go to the extremens in this pair, even up to change the trend some times, also they can breake the UTL to f%$ck us all, who knows, that is why scalping and runing up to +1 safe heaven is the name of my game, like you know......

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The Chonchy
  • #302,168
  • Oct 6, 2010 6:32pm Oct 6, 2010 6:32pm
Quoting Redeemed1
Any predictions for European session?
I expect EUR/USD to continue drifting lower in the medium term with a target for next week at about 1.3640 and while the DAX is below the red line on the chart I continue to be bearish about the index. I'm not recommending a fresh short there(DAX) at current levels though, unless you are willing to risk the levels above the red line as a stop. The NFP is the major risk event and can bring great chaos to the market.
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  • #302,169
  • Oct 6, 2010 6:40pm Oct 6, 2010 6:40pm
Quoting The Fool
Group of 7 & meeting with the IMF this weekend - currency wars & all - I'm sure they'll figger everthing out - I doubt we see any radical moves right before that...
That might be a reason for BoJ to stay out of the market until then. They deserve a slap on the wrist as it is, so they will probably choose to hold out until after...
Stubbornly persistent
  • #302,170
  • Oct 6, 2010 6:43pm Oct 6, 2010 6:43pm
If the NFP tomorrow is surprisingly good , both US stocks AND the USD will rally. As it'd mean less need for QE and good news for the economy in general.
  • #302,171
  • Oct 6, 2010 6:44pm Oct 6, 2010 6:44pm
Quoting sergiu
That might be a reason for BoJ to stay out of the market until then. They deserve a slap on the wrist as it is, so they will probably choose to hold out until after...
good point, maybe
The Chonchy
  • #302,172
  • Oct 6, 2010 6:45pm Oct 6, 2010 6:45pm
Quoting Masrim
I expect EUR/USD to continue drifting lower in the medium term with a target for next week at about 1.3640 and while the DAX is below the red line on the chart I continue to be bearish about the index. I'm not recommending a fresh short there(DAX) at current levels though, unless you are willing to risk the levels above the red line as a stop. The NFP is the major risk event and can bring great chaos to the market.
Also, ECB rate decision later...

Typical, the last time BoJ intervened I'd built a nice little long position buying on dips in anticipation, then that night I closed due to perceived down side risk and went to bed.

So tonight I stay up and it doesn't look like they're coming out to play, it's nearly 3am here!!
  • #302,173
  • Oct 6, 2010 6:46pm Oct 6, 2010 6:46pm
Quoting Masrim
If the NFP tomorrow is surprisingly good , both US stocks AND the USD will rally. As it'd mean less need for QE and good news for the economy in general.
and if is bad and the MM (market makers) wish to keep going they will, me think, only an observation
The Chonchy
  • #302,174
  • Oct 6, 2010 6:46pm Oct 6, 2010 6:46pm
bumps @ 3903.8 3896.5 3890.5 dpp 3891

pending long scalp at dpp + 2.. tight sl loss.. then pending short at 3957.2 ish..
those who can, do. those who cant, talk about those who can
  • #302,175
  • Oct 6, 2010 6:47pm Oct 6, 2010 6:47pm
Quoting Masrim
If the NFP tomorrow is surprisingly good , both US stocks AND the USD will rally. As it'd mean less need for QE and good news for the economy in general.
I'm afraid QE is inevitable at this point. I can't see a great NFP being possible at this point, out of nowhere...
Stubbornly persistent
  • #302,176
  • Oct 6, 2010 6:49pm Oct 6, 2010 6:49pm
Quoting FibbinArchie
Also, ECB rate decision later...

Typical, the last time BoJ intervened I'd built a nice little long position buying on dips in anticipation, then that night I closed due to perceived down side risk and went to bed.

So tonight I stay up and it doesn't look like they're coming out to play, it's nearly 3am here!!
10pm here....I normally get up at 3am! live in canada....close to Toronto...
I don't trust any move - when you have profit...take it.
  • #302,177
  • Oct 6, 2010 6:50pm Oct 6, 2010 6:50pm
Quoting sergiu
I'm afraid QE is inevitable at this point. I can't see a great NFP being possible at this point, out of nowhere...
Yes, that's what logic tells, but elections are near and "creative statistics" can be useful to convince voters things are fine.
  • #302,178
  • Oct 6, 2010 6:50pm Oct 6, 2010 6:50pm
Quoting sergiu
I'm afraid QE is inevitable at this point. I can't see a great NFP being possible at this point, out of nowhere...
Certainly not going by yesterday's job figures.
  • #302,179
  • Oct 6, 2010 6:51pm Oct 6, 2010 6:51pm
in the scalping mode that i'm right now this is what I see, to the PP 3890 then upif it goes over the LTL then all bets are off and I'm going short

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The Chonchy
  • #302,180
  • Oct 6, 2010 6:53pm Oct 6, 2010 6:53pm
Quoting gatorinla
bumps @ 3903.8 3896.5 3890.5 dpp 3891

pending long scalp at dpp + 2.. tight sl loss.. then pending short at 3957.2 ish..
same here boss
The Chonchy
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