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EURUSD

  • #309,481
  • Oct 19, 2010 6:52am Oct 19, 2010 6:52am
Dollar seem to be breaking key support on USDX.
China raising interest rate.
Banks reposting of great results -> Not so much need for more QE, they are good on their own.

I would not be surprised to see dollar strenghten in NY session.
  • #309,482
  • Oct 19, 2010 6:52am Oct 19, 2010 6:52am
Quoting Driver55
long @3858
your indicators are proving that hmm i have a strong support at between 3833 a
  • #309,483
  • Oct 19, 2010 6:53am Oct 19, 2010 6:53am
wow, alot forex baggies now, longs are getting punished
  • #309,484
  • Oct 19, 2010 6:54am Oct 19, 2010 6:54am
EURUSD if you take a look at it's 4HR chart is forming H&S where neckline rougly seats at 1.3840.

MACD is crossing the 0 and near turning red already.

1) A TP of 1.3520 based on H&S in 4HR chart.
2) A TP1 of 1.3800 based on FIB 23.6%, TP2 1.3585 FIB 38.2%.

caveat...
  • #309,485
  • Oct 19, 2010 6:55am Oct 19, 2010 6:55am
Quoting paul1
Be careful with the cot report,I soon realised there is a good reason its delayed a week.
Please take note any useful information is delayed.
The reason i beleive is to make you beleive what you wrote, And understand i too am learning so take no offence buddy I'am simple trying to understand the big dogs like all here .

wish we all make lots pips
Sure I get what u mean. I don't use it as a timing tool. just to confirm what the market is doing. It's a great tool which had help me for the past 10yrs. It helps me stay in major plays without worrying about the day to day fluctuations.
Prices are never too high to begin buying or too low to begin selling.
  • #309,486
  • Oct 19, 2010 6:56am Oct 19, 2010 6:56am
Still would like to see a bounce of some kind to get short, I'll wait for a test of 40/42 I guess and she what she does from there, news out in 30mins
Look Sharp/Trade Tight
  • #309,487
  • Oct 19, 2010 6:57am Oct 19, 2010 6:57am
If we touch 1.3822, we are going down to 1.3776 and 1.3650 as in an extension.
  • #309,488
  • Oct 19, 2010 6:57am Oct 19, 2010 6:57am
Quoting pres78
It's a good thing that there was no supply at 1.4

Is this whole downmove Chinese rate driven?
China supports EUR....
The Market pays you to be disciplined
  • #309,489
  • Oct 19, 2010 6:57am Oct 19, 2010 6:57am
Quoting Driver55
long @3858
not yet, hold for 3833
  • #309,490
  • Oct 19, 2010 6:58am Oct 19, 2010 6:58am
Quoting PayTheLimit
Still would like to see a bounce of some kind to get short, I'll wait for a test of 40/42 I guess and she what she does from there, news out in 30mins
Goldman Sachs news out in 3min.
  • #309,491
  • Oct 19, 2010 6:58am Oct 19, 2010 6:58am
Quoting Sunsi
Goldman Sachs news out in 3min.
good call...
Look Sharp/Trade Tight
  • #309,492
  • Oct 19, 2010 7:01am Oct 19, 2010 7:01am
Goldman Sachs prelim $2.98 vs $2.28 Thomson Reuters consensus; revs $8.9 bln vs $7.92 bln Thomson Reuters consensus
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #309,493
  • Oct 19, 2010 7:03am Oct 19, 2010 7:03am
Goldman SAC revenues beat street by 1 BILLION dollars, third quarter, LOL, go dollar
  • #309,494
  • Oct 19, 2010 7:03am Oct 19, 2010 7:03am
Quoting DMA Trader
Goldman Sachs prelim $2.98 vs $2.28 Thomson Reuters consensus; revs $8.9 bln vs $7.92 bln Thomson Reuters consensus
I would expect some selling because of these news. Now that China are raising interest rates. Because with this happening it also decreases the need for more QE. Or how do you view it?
  • #309,495
  • Oct 19, 2010 7:04am Oct 19, 2010 7:04am
Quoting rookie001
Yep but on the other hand Europe won't want Euro to go that high against dollar either. So we come to square one ... don't we ? If the owners of Euro won't want such an expansive euro against dollar ... what would happen ? Sure those days are gone when banks would meet, decide interest rates and determine a pre-thought up value for a certain currency. It is getting a lot more messier than these old strategies.
At least Euro central bank is not pushing for another QE. But my Bernanke and his colleagues are pushing for QE. which clearly tells me that he want's lower USD. Also look at the pressure the US is putting on China to raise it's currency. I'm not a fun of the dollar at these levels. I will look at it when we get to the 60's on the dollar index.
Prices are never too high to begin buying or too low to begin selling.
  • #309,496
  • Oct 19, 2010 7:05am Oct 19, 2010 7:05am
all this news helps the dollar, and the Euro is way overbought, reality check in progress,
  • #309,497
  • Oct 19, 2010 7:06am Oct 19, 2010 7:06am
Quoting Sunsi
I would expect some selling because of these news. Now that China are raising interest rates. Because with this happening it also decreases the need for more QE. Or how do you view it?
bottom line in my view is this.

the news from China is most important.

a 0.25% is not some huge move taking into consideration their growth rate and inflation fears.

But it's unexpected move and coming in a very strange time.

i'm caution. not really trading. a lot know since i'm not into scalping.

even if nobody admits. this is already a Currency WAR
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #309,498
  • Oct 19, 2010 7:07am Oct 19, 2010 7:07am
This thing gonna fall heavily, i'm gonna search where to enter for a short.
  • #309,499
  • Oct 19, 2010 7:09am Oct 19, 2010 7:09am
There should be a new thread on EU solely based on Technical with no Fundamental ......Any experts are planning ???
  • #309,500
  • Oct 19, 2010 7:09am Oct 19, 2010 7:09am
CCI showing extremely bullish divergence on 15M and a pin bar candle. I suspect this might be it for the down move.
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