EURUSD

last week correction is due. to 1.33-1.3200 area... before cont. bullish to 1.36/1.37 area.. where i c possible swing..

Given the reduced liquidity expected tomorrow due to MLK day in the States, I like the idea of using the boxed area as an initial reference area, I will be monitoring how price action reacts at or near these boundary levels for possible range entries...

Have some fun. Looks to me like market will open flat next week then USD will begin to slide south. Of course that's my opinion. Thing is, opinions are like but holes, everybody's got one and they all stink.

good stuff, kill

speak for yourself.

Ha ha!

Good one!

Seems to me though, that if they really smelled good people like dogs would be going around sniff'n each others but.

Now 1.3389.
With Trichet's latest hawkish speech, we might see 1.37 in no time.

did anyone spot the massive bearish bat on daily chart??bat stopped and reversed at .886 fibo... projections according to my literature says 1.61 fibo is target price near parity...

however currently this is long for me - will post reasons in next post...

h1 up trend line still in tact... break of this will target 1.3321 ish... break of that will target 1.3250... until break - its long, but there is NO entry here... massive supply above..

Ok ,just an emmergency take off without maintenance to wait the crush at top & direct sky falling.lets see .
fontu

read with me

When does a Forex day begin and end?
Does it really matter?
One question that is often asked of the Forex market is just how is a day defined in terms of the start and end of trading?
The simple answer is that from the start of the Forex week when Australasian traders sit down at their desk until the end of North American trading at the end of Friday there is no break in trading. It is a direct market which does not recognize any exchange through which all trades are recorded.
Trades can be executed at any time with one time zone overlapping the next. There is even a very limited market in the Middle East on Saturdays although any trades are made locally and not officially included in market turnover statistics.
The net effect is a working week of some 5 days plus between 2 and 4 hours depending on how enthusiastic New Zealand traders are on their Monday morning.
This may seem quite remarkable for the largest global market. To highlight just how big it is in comparison with other leading markets, the BIS reported a daily turnover in 2007 of some US$3.2 trillion. That is equivalent to:
•
More than 10 times the average daily turnover of global equity markets
•
More than 35 times the average daily turnover of the NYSE
•
Nearly $500 a day for every man, woman, and child on earth
•
An annual turnover more than 10 times world GDP
In spite of this there is no official daily open and close.
This has an impact on how technical analysis charting packages display their daily data. Market practice is actually to treat the day as moving from Asian open to New York close, generally considered to be at 5pm EST (10pm GMT.) Monday’s bar also has the trades prior to New York 5pm on Sunday included and thus actually represents trading over a 26-28 hour time period.
However, is this a true reflection of a trading day from a psychological point of view? Let us just look at the market participants during the trading day.
On a timeline this can be shown as:
If you consider the regional presence over the trading day we can generate three distinct time zones, these being Asia, Europe and North America. According to the BIS the average percentage of daily turnover is approximately 20%, 45% and 20% respectively. The balance is attributed to “others.”
There is one period of time where market liquidity drops and trades become fewer, this being between the close of New York and the opening in Tokyo. While New Zealand and Australia are generally at their desks the lack of depth in the counterparty availability reduces trades to a minimum.
Furthermore, while Asia does account for 20% of the daily turnover, normal trading conditions generate a range of only 30-40 points. Hence we can suggest that there is a proxy for a psychological break in trading.
Below is a 3 minute bar chart of Dollar-Yen with Average True Range plotted below. Since there is no volume figures available in Forex due to the fact that there is actually no means to compile trades from the variety of trading methods, Average True Range can be used as proxy for the degree of activity in the market.
The time scale is EST and it can been seen that running into 5pm ATR is already on the decline and remains subdued throughout Asian trading until approximately 2am when Europe is beginning to trade. Thus it adds weight to the practice of considering the Forex day running from 17:01 New York time through to 17:00 the next day.
However, on a chart the daily opening prices will be recorded on the first tick following 5pm in New York while the day’s close will be at 5pm in New York. Considering the time lapse between the last tick on one day and the first of the next there is virtually no occasion when price will have moved more than 1 point. Invariably one day’s close and the next day’s open is generally the same.
This causes a very significant difference in the appearance of a chart from an exchange traded market and Forex. There are simply no close-to-open gaps in Forex charts with the only exception being over the weekends. Even then, until recent events caused big gaps following official comments over the weekend, in general there was little or no gap at weekends either.
With many analysts considering gaps as a significant reflection of market psychology it renders those techniques irrelevant in Forex. Basically gaps are a reflection of a change in trader’s view of market value, normally caused by corporate announcements in equity markets or overnight official comments in other markets that require a shift in the value of the underlying asset.
This really can’t be said of the Forex market since trades can be executed 24 hours a day and therefore market moving comments or economic releases generate instantaneous reactions. In truth these can cause gaps in intra-day trading but these are not reflected in charts.
Even if we suggest that we can artificially create a daily chart excluding the period between New York close and Tokyo open there will rarely be much of a gap anyway. However, in many ways it would be irrelevant and that has been shown over the past few months when Asian trading has seen much larger ranges – in some case over 400 points.
The clear point is that while a normal market will not see any significant gap, the fact that during abnormal market conditions it is still open, trades can be processed. It is a market that reacts to changes in perception of value instantaneously. Not only that but market participants from around the globe do have the ability to trade at any time – not just in one time zone. This is in complete contrast to exchange traded assets.
In conclusion, what this means is that more attention needs to be given to price movement, the nature and structure of moves which highlight potential projections and corrections. Forex is a real challenge for analysts.
Ian Copsey

Still not able to get past the high from Late Nov 2009 & the low from June 2010's 50% fib.

What I am watching or listening for actually, The large spike came from the ECB talking Friday morning {u.s. time} about interest rates hikes in the future.

Later on they came out and said that there is no need to raise interest rates now or in the near future. the meaning behind the bullish sentiment has been 'erased' as far as the talk from the ECB, but will this cause profit taking and new bearish positions?

http://quotes.ino.com/exchanges/exchange.html?e=FOREX

Hello everybody, i'm new in this kind of stuff.
I'm short on EUR/USD at 1,3387.
What do you think ?

Hye All..

I'm sorry if my question is off from trading discussion..Actually,i wanna ask about compounding account..example,growth the account from 1k usd to 100k usd in one year..is there have any withdraw problem when we could compound the acc from 1k usd 100k usd..can anyone share their experience in compounding acc?..

p/s:sorry,my english is not so good

EUR:USD

Goldman Sachs Chief FX strategist John Noyce released a note on Thursday 6th January quoting:

"selling a bounce toward the middle of the consolidation at 1.3250 would seem attractive."



On Thursday 13th January John Noyce released the following trade recommendation:

"Long EURUSD Call With 1.37 Target And 1.285 Stop"



Later on the same day in his FX trading strategy update, John Noyce quotes:

"The market approaches good resistance centred on 1.3389 - 1.3405. Thinking longer term (Weeks/Months) the negative story still looks intact so we are biased towards fading the recent recovery"

Hello,
can't understand, how did this trading is possible on saturday?
Thanks.

h1 uptrend line in tact.. i plan to short but not yet.. waiting confirmation

There is thread like this read
http://www.forexfactory.com/showthread.php?t=253475
my post there
http://www.forexfactory.com/showpost...0&postcount=95
wish you good luck , everything possible.
fontu