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  • #531,601
  • Aug 26, 2011 2:26pm Aug 26, 2011 2:26pm
Thanks for the heads up Fontu, nice senerio and chart there. I still have july's high @ 1.4535 to bias the bulls for me!

Next week sould be interesting in how this will play out and get out of this 250 pip range.Bif news events may have setteled by tuesday ( after GBP holiday )..Ireane will be a impact also and could strenghten the dollor, we shall see.

Have a good weekend!

Quoting fontu
Just checking waves if the bull actually ready go , it was top to bottom bulls ok, the last smaller one with minimum correction may try bull action also ok but wavewise there should be some rules to follow at least .

As we see price start bounce from apparent c wave correction & the wave up from there should be clearly an imulse .!st wave ok as an impulse , 2nd also but 3 rd in a mofu withot an impulse but can be aligned with as wave 1 , 1-5th in a channel ok & in that case even it success breaks 4518 anytime towards 1.4604 then also need correction...
  • #531,602
  • Aug 26, 2011 2:27pm Aug 26, 2011 2:27pm
small lot sold@44907 sL@ 44880, TP@ 4329

happy weekend all~~

Edit: SL hit......
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  • #531,603
  • Aug 26, 2011 2:31pm Aug 26, 2011 2:31pm
Quoting Chillypiper
Thanks for the heads up Fontu, nice senerio and chart there. I still have july's high @ 1.4535 to bias the bulls for me!

Next week sould be interesting in how this will play out and get out of this 250 pip range.Bif news events may have setteled by tuesday ( after GBP holiday )..Ireane will be a impact also and could strenghten the dollor, we shall see.

Have a good weekend!
Thanks , have a nice holiday too for you & all . It was very good weeks & hope next also continue as such , after many good weeks should come the very bad ones as usual when nothing works . hope not so soon but carefull always .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #531,604
  • Aug 26, 2011 2:37pm Aug 26, 2011 2:37pm
Quoting Mr Breakout
And again, as predicted, the EUR/USD tested the 1.4325 area and bounced from there (at least 75 pips as we speak).

Way too easy folks, like stealing a candy from a baby.

Anyway.
The EUR/USD tested that 1.4325 support area for the second and last time around 10 AM (EST) but the price was immediately rejected and the euro went 175 pips higher quickly.

If that support level ever breaks down in the next few days, it will then become a powerful resistance area and an ideal entry point for a short trade.
  • #531,605
  • Aug 26, 2011 3:09pm Aug 26, 2011 3:09pm
LOLOL I almost beat up some guy who was wearing this T-Shirt the other day.
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  • #531,606
  • Aug 26, 2011 3:11pm Aug 26, 2011 3:11pm
Quoting Mr Breakout
The EUR/USD tested that 1.4325 support area for the second and last time around 10 AM (EST) but the price was immediately rejected and the euro went 175 pips higher quickly.

If that support level ever breaks down in the next few days, it will then become a powerful resistance area and an ideal entry point for a short trade.
Would you reckon a Short Position at 1.4490 is a decent idea???
  • #531,607
  • Aug 26, 2011 4:20pm Aug 26, 2011 4:20pm
Goddamm weekend again.. hate when this happens..Markets closed grrr..
Back to analysing some offline charts I suppose...
  • #531,608
  • Aug 26, 2011 4:35pm Aug 26, 2011 4:35pm
Quoting Mr.MaginCole
Would you reckon a Short Position at 1.4490 is a decent idea???
Hi, a short there might or might not be a good idea. As you saw it fought to close higher and it did not commence a strong enough move down from the resistance 1 it just broke. It was basically sitting on 1.4480. This move up caught me off guard as you can tell by my sell in picture number 2. But Bulls want 1.4535. And as you can see in picture number 2 it has broken the daily trendline (in light blue). It could bounce off the Gann line (dark blue). However, lots of traders are short EUR/USD and should be as you can see by the picture below, EUR is weaker than USD and is bound to get even weaker.

http://i451.photobucket.com/albums/q...204/chart2.png

However, technicals now suggest a final up move before heading down. This could be to 1.4530 before it gets swallowed up by the supply zone in that area. But I believe we should not see a trend occur until September.

http://i451.photobucket.com/albums/q...4/chart1-1.png
  • #531,609
  • Aug 26, 2011 6:15pm Aug 26, 2011 6:15pm
I'm in agreement with Turveyd here.. Not enough room (pips) before the next big resistance for me to go long.. I do expect it to continue to drift upwards through the asian and European markets but feel that in the US market it will retrace back and give a nice opportunity to take some good pips..
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  • #531,610
  • Aug 26, 2011 7:08pm Aug 26, 2011 7:08pm
News is only good for the 30min period of the news, the Pro's will move us in the direction they like regardless.

Recently, I've got the feeling EUR and GBP is in a distribution phase, which means most likely, it'll head down at some stage.

Even with Bad US News, the market is still being sold, but for the close of the day the market recovers again on low volume, why ?? so they can dump and short more.
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  • #531,611
  • Aug 26, 2011 8:54pm Aug 26, 2011 8:54pm
Have free time and ready for next set up BUT market close
Next week when market open after 4H market should go down to 4410
Better get some sleep
Cya
  • #531,612
  • Aug 26, 2011 8:58pm Aug 26, 2011 8:58pm
Quoting egkid
Have free time and ready for next set up BUT market close
Next week when market open after 4H market should go down to 4410
Better get some sleep
Cya
ok
  • #531,613
  • Aug 26, 2011 9:14pm Aug 26, 2011 9:14pm
http://af.reuters.com/article/camero...77O1VB20110825
Forex swaps with ECB total $500 million - NY Fed




NEW YORK Aug 25 (Reuters) - The Federal Reserve provided $500 million of liquidity to the European Central Bank in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.
It was the first time the ECB had tapped the swap lines since the week ended March 2 when it swapped $70 million.
"Anecdotally, this is a sign of tightness in euro zone money markets and a sign that the banking system there is under serious stress," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.
The ECB was the sole institution to use the Fed facility in the week ended Aug. 24, swapping the full amount. The terms for the ECB swap were seven days at 1.10 percent.
The Federal Reserve has established swap arrangements with the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank and the Bank of Japan in an effort to respond to the re-emergence of strains in short-term funding markets in Europe.
Persistent concerns about peripheral European debt have hit lending in interbank markets and dollar funding costs for euro zone banks have jumped over the past month.
In a sign of stress, the ECB's weekly dollar tender saw demand last week for the first time in almost six months, with a single euro zone bank borrowing $500 million at a fixed interest rate of 1.1 percent -- well above the rates that trusted banks can get dollars for on open markets.
But there was no demand for the swap line in the latest week, which temporarily eased fears that some banks were being shut out of the dollar market.
The cost for banks to borrow short-term dollar funds from other banks rose further on Thursday, with London interbank offered rates for three-month dollars hitting their highest since last August.
  • #531,614
  • Aug 26, 2011 9:27pm Aug 26, 2011 9:27pm
Quoting Myrza
I wuldnt touch that sell button for now . It think it is done retesting H4/H1 breakup at 1764. IMO I think it is not climbing further becos it is friday but we may see a big gap up next monday to fill the hidden gap at 1845

holy cow..thought this is going to happen on monday
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  • #531,615
  • Aug 26, 2011 11:58pm Aug 26, 2011 11:58pm
Quoting Mr.MaginCole
Would you reckon a Short Position at 1.4490 is a decent idea???
From the 1h chart to the daily chart, the EUR/USD is making higher high and higher low.

As a general rule, when the market behaves this way the trader should NEVER bet against the (up)trend.

I will repeat that : If a market is making higher high and higher low, the trader should listen and simply follow the (up) trend, unless he/she has a very compelling reason to trade otherwise. And vice versa for short trades.

If traders could simply follow this simple rule they would be way ahead of the trading game.
  • #531,616
  • Aug 27, 2011 12:19am Aug 27, 2011 12:19am
Quoting fontu
Just checking waves if the bull actually ready go , it was top to bottom bulls ok, the last smaller one with minimum correction may try bull action also ok but wavewise there should be some rules to follow at least .

As we see price start bounce from apparent c wave correction & the wave up from there should be clearly an imulse .!st wave ok as an impulse , 2nd also but 3 rd in a mofu withot an impulse but can be aligned with as wave 1 , 1-5th in a channel ok & in that case even it success breaks 4518 anytime towards 1.4604 then also need correction towards 4274, that is a spike down will need to form 1 of 3 wave to go up only . if not make the c wave 1=a,2=b any level up now to previous high 4518 or up 4604 or even up 4699 as c then no impulse up can be seen here & then again may need the new c down at lows . whatever the case 4274 or around level is compulsory should be needed both cases .

so a failure below 4518 very possible to pay for the lows as may need , ready & bull full fledged in next try. afterall friday push may not constitute any real push or great breakout immenent .
so remain bearish still & becoming little risky . market apparently dead now . will see next week , how play.
fontu

hi fontu..i like your view in this thread...I also have my weekly analysis hopefully we can discuss..
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salam
  • #531,617
  • Aug 27, 2011 12:50am Aug 27, 2011 12:50am
Is this the biggest thread of ff?
  • #531,618
  • Aug 27, 2011 2:38am Aug 27, 2011 2:38am
Quoting aqeelaputra
hi fontu..i like your view in this thread...I also have my weekly analysis hopefully we can discuss..Attachment


salam
Walikum as salam . Ramadan Mubarrak & Eid Mubarrak to all . Nice chart & should the analysis too .sure .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #531,619
  • Aug 27, 2011 2:44am Aug 27, 2011 2:44am
Quoting dodko1144
Is this the biggest thread of ff?
Everybody think so . welcome to this thread & hope we will exchange views to learn from each other .
anyway your free space is not for any advertisement purpose here in FF .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #531,620
  • Aug 27, 2011 2:48am Aug 27, 2011 2:48am
Quoting trading2000
I'm in agreement with Turveyd here.. Not enough room (pips) before the next big resistance for me to go long.. I do expect it to continue to drift upwards through the asian and European markets but feel that in the US market it will retrace back and give a nice opportunity to take some good pips..


great week, have a nice one!
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