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  • #318,641
  • Nov 3, 2010 10:55am Nov 3, 2010 10:55am
Tarantula: I would like ypur opinion about this chart. We're having on weekly chart some serious signals that the upward movement is over.
The same happened on february this year when price was dropping (highlited with grey elipse), but it was a "fake" reversal and then EU continued it's way down.
Besides following the giant purple wedge eU should go to test the UTL +/- @ 44xx. All this scenario makes me think that price may go up. besides the bearish weekly doji candlesticks.
I guess today's event will define the trend for the rest of the year.
What do you think mate???
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 285 KB
  • #318,642
  • Nov 3, 2010 10:57am Nov 3, 2010 10:57am
no one knows the effect of monetary policy has on the dollar?
  • #318,643
  • Nov 3, 2010 10:58am Nov 3, 2010 10:58am
But we can put Sell stops and buy stops 20p, about 3min before news, then we maybe can catch rally.
  • #318,644
  • Nov 3, 2010 10:59am Nov 3, 2010 10:59am
Quoting ranger_lp
QE2 will happen and it will be > or = to 1 Trillion. That is my opinion. Our country wants a weaker dollar in the face of China. That's why it's inevitable.
Just think about this though. If everyone knows this, then it is already built into the current price. What happens now if the Fed announces something less than the expected?
  • #318,645
  • Nov 3, 2010 11:00am Nov 3, 2010 11:00am
Quoting maurofx
Tarantula: I would like ypur opinion about this chart.
mauro....i appreciate ur question and i will answer as soon as i got home. Im leaving the office now...talk to u later
  • #318,646
  • Nov 3, 2010 11:00am Nov 3, 2010 11:00am
Quoting SkyzerFX
Not for today of course.. Could be 1.41 and change today, if

Benny confirms it, but there is important Friday Unemployment Data

ahead as well, so everyone will probably stay cool till then..

We'll see..
whats he gonna say? " were gonna have qe?" pssttt we already know. now with the t-baggers it will be less.. bb is scared of audits. nobody wants to borrow at 0- 1/4 +... you think if he lowers rates they will borrow more? t-baggers are gonna let the air out the tires. cover your gold trade
those who can, do. those who cant, talk about those who can
  • #318,647
  • Nov 3, 2010 11:01am Nov 3, 2010 11:01am
i speculate the dollar being strong during the news..500bil$$ will ve pumped....quite huge stimulus..but we will see the effect of this news in 2 hours
  • #318,648
  • Nov 3, 2010 11:02am Nov 3, 2010 11:02am
Quoting redsword11
Attachment
Well, THAT is a very good cahrt man!
  • #318,649
  • Nov 3, 2010 11:03am Nov 3, 2010 11:03am
Quoting Venice
What happens now if the Fed announces something less than the expected?
Then the only question is what is expected...
Look Sharp/Trade Tight
  • #318,650
  • Nov 3, 2010 11:05am Nov 3, 2010 11:05am
correlation between eu and dji.

green lines: eu found bottom before dji
red lines: eu found top before dji
blue: hit at the same time
Attached Image
  • #318,651
  • Nov 3, 2010 11:07am Nov 3, 2010 11:07am
Did not check gold so far , similar pa eu but did down relatively more with news & even can down further , they are taking profit in gold & engage in currencies war perhaps not likely they find peace in currencies & surely see the result soon .Anyway expecting some more down eu still but if not able before fund rate then can void as it not any good if remain same . may low further rate & some temporary kick up usdx & down eu possible . too much uncertain eu down but not much perhaps for up .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 10 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #318,652
  • Nov 3, 2010 11:07am Nov 3, 2010 11:07am
Quoting Erinieks
But we can put Sell stops and buy stops 20p, about 3min before news, then we maybe can catch rally.
...though, not one I'd put a penny on.

Whichever retail platform you are using the spreads will go through the roof before the announcement, 30pip spread would not be unusual. That itself will happily trigger your stops...and take you out with your stop loss. And then, depending on the interpretation of the news the price may fluctuate a 100pip up or down is again not unusual. You'll be slaughtered. But, hey, if you have money to blow, go for it...you'd have to be barking mad though .
  • #318,653
  • Nov 3, 2010 11:09am Nov 3, 2010 11:09am
Yes It has pretty much correlated because of QE2 uncertainty. However, IMO one thing that have very good chances to happen today is breaking that correlation whatever the announcement and it will be a good time to look back at Dollar Index again.

sisse

Quoting Mr Hatch
correlation between eu and dji.

green lines: eu found bottom before dji
red lines: eu found top before dji
blue: hit at the time
Pending conversations? PM for a chat...I am mainly in OTM now
  • #318,654
  • Nov 3, 2010 11:09am Nov 3, 2010 11:09am
Quoting PayTheLimit
Then the only question is what is expected...
The rumor mill seems to really like a 1 Trillion announcement.

For me... I am not touching forex...
  • #318,655
  • Edited 11:27am Nov 3, 2010 11:11am | Edited 11:27am
Quoting zaphy
...though, not one I'd put a penny on.

Whichever retail platform you are using the spreads will go through the roof before the announcement, 30pip spread would not be unusual. That itself will happily trigger your stops...and take you out with your stop loss. And then, depending on the interpretation of the news the price may fluctuate a 100pip up or down is again not unusual. You'll be slaughtered. But, hey, if you have money to blow, go for it...you'd have to be barking mad though .
Not necessarily true. it can be done. I've done it!
All that is left in FF is just plain garbage. "Cloggie"
  • #318,656
  • Nov 3, 2010 11:13am Nov 3, 2010 11:13am
Quoting gatorinla
whats he gonna say? " were gonna have qe?" pssttt we already know. now with the t-baggers it will be less.. bb is scared of audits. nobody wants to borrow at 0- 1/4 +... you think if he lowers rates they will borrow more? t-baggers are gonna let the air out the tires. cover your gold trade
nobody seem to get the politics idea into this now.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #318,657
  • Nov 3, 2010 11:16am Nov 3, 2010 11:16am
http://graphics8.nytimes.com/images/...ls.xlarge1.jpg
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #318,658
  • Nov 3, 2010 11:17am Nov 3, 2010 11:17am
in my short career as trader i seen 15/10 massive moves up to 1.4160 within minutes 200+ pips down. extreme volatility.

And today lol.

Now i know what "like watching grass grow" means .

this must be the most anticipated news ever .
making green pips large and red pips small this is my goal.
  • #318,659
  • Nov 3, 2010 11:17am Nov 3, 2010 11:17am
Quoting tonyo524
Not necessary true. it can be done. I've done it!
I believe you all I realy have to do is look at the car you drive & I know you are realy Rich! Good Luck
  • #318,660
  • Nov 3, 2010 11:17am Nov 3, 2010 11:17am
Hi maurofx,

referred post

You point your finger on indécision and continuation japanese candles.

The background trend is long.

In my mind, the $ will be continued to fall.

Regards.
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