EURUSD

http://cdn.forexfactory.com/images/attach/pdf.gif 2010-11-16_08h52_IWF reduziert Gewicht des US-Dollar in seinem Währungskorb.pdf (9.3 KB)


Unfortunately only available in German ...

IMF changes the 'stakes' in currencies basket ... less US-Dollar ... more Euro ...

;-)

Ireland says it hasn't asked for anything, but investors are feeling more positive that it will be bailed out !!! Nevermind whether there is a bailout or not, it's significant enough that investors (not traders) are losing their bearish outlook on the Euro. The difference between yields on German bunds and Irish or Greek bonds is decreasing... No confidence to sell or buy EURUSD !!!

Why is the CABLE thread dead this morning?

This looks to me that this could go ether way for now, till some resistance meet at higher prices or lower. This would be a gamble for intraday right now by my opinion. Long term different story but dont practice that...

looks like this eu wants to go long for now.

cloggie should be sleeping..........

IMO, is too early to say that. It will take a small relief good numbers in Europe later to make a decent pullback happen. Meanwhile it will be a bumpy break of 1.360x.

sisse

nice setup on e/j 2..it must break one way or another

My 1h chart:

Let London get a better price to short at.
Around 1,3620 is a good one for them. Will see if they decide to go even higher or not.
But i wont take new positions before they are done with this hour.

And the move up looks slow...it needs an acceleration or it will dive

agree good analisis K......the DPP could be a bounce.....

righ on the spot K.......3620......

It goes like that when all the kiddies have to get ready for school/ college or whatever. When their on holiday 'Cable' is really bizzzzy

Yes its the most recent supply area. And the H1 inverted hammer is creating a beautiful resistance area. We would need strong bulls to go above than one.

Now lets see what it does from there.

Yes, I already got my limit orders setup at my levels in the market for some shorts. Right now I'm setup with scaled short orders at 1.3640/65. I'll wait and see how pa moves up to adjust.

Wish all green pips.

1. Hold on boys, let me regurgitate some old wise words before this TA action goes west...

This is from Al Weiss--> for those who don't know him, he started in 1982 AZF commodity management he has been pulling out an average of 52% every year for 10 years.. Anyway for TA's out there:

==== I understand that you're basically a technical systems trader. Why do you believe your track record is
so much better than those of other commodity trading advisors using similar methods? In particular, I'm
interested in how you have managed to avoid the large drawdowns that seem to be almost intrinsic to this
approach. ====
Although I employ technical analysis to make my trading decisions, there are a few important differences
between my method and the approaches of most other traders in this group. First, I think very few other
technical traders have gone back more than thirty years in their chart studies, let alone more than a hundred
years. Second, I don't always interpret the same pattern in the same way. I also factor in where I believe we
are at in terms of long-term economic cycles. This factor alone can lead to very substantial differences
between the conclusions I might draw from the charts versus those reached by traders not incorporating such
a perspective. Finally, I don't simply look at the classical chart patterns (head and shoulders, triangle, and so
on) as independent formations. Rather, I tend to look for certain combinations of patterns or, in other words,
patterns within patterns within patterns. These more complex, multiple-pattern combinations can signal much
higher probability trades.
==== What popular chart patterns are accurate only 50 percent of the time? ====
Most of them. But that's not a drawback. A pattern that works 50 percent of the time can be quite
profitable if you employ it with a good risk control plan.
==== Is technical analysis an art or a science? ====
It's both an art and a science. It's an art in the sense that if you asked ten different traders to define a
head-and- shoulders pattern, you'd come up with ten different answers. However, for any individual trader,
the definition can be made mathematically precise. In other words, chart traders are artists until they
mathematically define their patterns-say, as part of a system structure-at which time they become scientists.

Irish spreads looking unch around 540....

Remembers me of sisse

We must wait for key Brussels meeting today to see those numbers move.

sisse

Do you happen to know what time it kicks off, thnx PTL