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  • #360,381
  • Jan 7, 2011 3:04am Jan 7, 2011 3:04am
There is a potential for a SHORT TERM RALLY of the EUR later after the OPTIONS EXPIRY because of short speculative positioning.

Summary: After the options expiry at 10am and the big pay out is achieved then there may be a retrace to enter short again.

However it is acknowledged that because of the embedded sentiment it is hard to see how the current downtrend will be reversed longer term without positive news on bailout arrangements across the Euro zone
  • #360,382
  • Jan 7, 2011 3:05am Jan 7, 2011 3:05am
short 2975, sl 2990, tp 2945..
Look Sharp/Trade Tight
  • #360,383
  • Jan 7, 2011 3:11am Jan 7, 2011 3:11am
i'm long 1.2979
  • #360,384
  • Jan 7, 2011 3:12am Jan 7, 2011 3:12am
Good morning traders,

I am on my way to Bavaria. So only a short stop to deliver a new chart.

See chart on my blog, which can be found through my signature.

Wave red one could be done. If not, downside should be limited to 2940. Judging from the 4h chart it is not done yet.


More later....


Have a nice day,

Markus
  • #360,385
  • Jan 7, 2011 3:15am Jan 7, 2011 3:15am
Portugal could need bailout soon. Ireland's Financial support package has only bought time and the current size of liquidity facilities looks insufficient to fund Spain completely for three years. portugal/Germany Yield spread is 11 basis points wider.

The wider the spread gets - Bad for the EUR
  • #360,386
  • Jan 7, 2011 3:15am Jan 7, 2011 3:15am
Quoting PayTheLimit
short 2975, sl 2990, tp 2945..
out at 2985...-10
Look Sharp/Trade Tight
  • #360,387
  • Jan 7, 2011 3:15am Jan 7, 2011 3:15am
Quoting Hda
There is a potential for a SHORT TERM RALLY of the EUR later after the OPTIONS EXPIRY because of short speculative positioning.

Summary: After the options expiry at 10am and the big pay out is achieved then there may be a retrace to enter short again.

However it is acknowledged that because of the embedded sentiment it is hard to see how the current downtrend will be reversed longer term without positive news on bailout arrangements across the Euro zone
Any idea where it will retrace to?
  • #360,388
  • Jan 7, 2011 3:18am Jan 7, 2011 3:18am
Quoting buonvangvn
i'm long 1.2979
out 10 pips
  • #360,389
  • Jan 7, 2011 3:21am Jan 7, 2011 3:21am
Quoting Wbafan
Any idea where it will retrace to?
Wbafan: Yesterday, there was earlier talk of 1.3160 to 1.3200 but as it relates to today, no such market talk as yet. Technically based on the charts, that area is just about right, but how much profit will people take before selling again. Nobody knows.

Strong resistance is now above us
  • #360,390
  • Jan 7, 2011 3:22am Jan 7, 2011 3:22am
Gone for my early morning JOG
  • #360,391
  • Jan 7, 2011 3:23am Jan 7, 2011 3:23am
Quoting buonvangvn
out 10 pips
Long @ 2975.
Gonna hold it till after NFP
  • #360,392
  • Jan 7, 2011 3:25am Jan 7, 2011 3:25am
Quoting DudeSepii
Long @ 2975.
Gonna hold it till after NFP
okay. good luck
  • #360,393
  • Jan 7, 2011 3:29am Jan 7, 2011 3:29am
Long again 1.2982
  • #360,394
  • Jan 7, 2011 3:32am Jan 7, 2011 3:32am
you guys...are persistent

why trade now...when there is no movement ?
  • #360,395
  • Jan 7, 2011 3:37am Jan 7, 2011 3:37am
+24 ( 2 X 12 )

MTD +435

T-210 FAGM-FAKN 12H00 GMT

Have a great weekend and GL with trading
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #360,396
  • Jan 7, 2011 3:39am Jan 7, 2011 3:39am
5min trend is up towards 3024.. the resistance is now on 2998 and 3011.. while the support is now on 2956, 2942 and 2928..
  • #360,397
  • Jan 7, 2011 3:40am Jan 7, 2011 3:40am
Quoting bradu
you guys...are persistent

why trade now...when there is no movement ?
scared of missing a fast move out

I stoped this after 3 losses in a row. From now I am a trend follower only (but.... )
Follow my trading on Twitter and FB: @pumlitch
  • #360,398
  • Jan 7, 2011 3:42am Jan 7, 2011 3:42am
GM to all Traders, Scalper and Hedger´s
If you now the Way out -- please tell me
  • #360,399
  • Jan 7, 2011 3:44am Jan 7, 2011 3:44am
I dont see any reasons of going long at present if you are not scalper for 5-10 pips.........

Gold Doing Just fine..........
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  • #360,400
  • Jan 7, 2011 3:46am Jan 7, 2011 3:46am
Quoting infinitus
Good morning traders,

I am on my way to Bavaria. So only a short stop to deliver a new chart.

See chart on my blog, which can be found through my signature.

Wave red one could be done. If not, downside should be limited to 2940. Judging from the 4h chart it is not done yet.


More later....


Have a nice day,

Markus
wellcome to bavaria! be carefull, beer glasses are falling from the sky here.... ;-)

happy trading!
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