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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #841
  • Oct 6, 2011 8:01am Oct 6, 2011 8:01am
This looks like a bunch of short positions unwinding when they didn't get a rate cut pushing things temporarily higher. Seems to be bouncing off S1 support at 1.327.
  • #842
  • Oct 6, 2011 8:13am Oct 6, 2011 8:13am
Trichet clearly stated we are expecting intensified downward risks
  • #843
  • Oct 6, 2011 8:19am Oct 6, 2011 8:19am
Mr. Market still wants to know what the NFP is before committing to a direction.

However, the Euro has dropped about 160 pips from today's highs. That's a good start.

ADD: Volume is also very high

.
Those who say it cannot be done should not interrupt those who are doing it
  • #844
  • Oct 6, 2011 8:21am Oct 6, 2011 8:21am
continuation possible but also higher low pattern
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-06 15.20.gif Size: 16 KB
/ ... clarifying decisions ... /
  • #845
  • Oct 6, 2011 8:24am Oct 6, 2011 8:24am
Quoting walb99
continuation possible but also higher low pattern
just ask yourself which direction the fundamentals support.
Those who say it cannot be done should not interrupt those who are doing it
  • #846
  • Oct 6, 2011 8:25am Oct 6, 2011 8:25am
The single most positive thing he said was:

"we continue to expect euro area economic activity to benefit from continued positive growth in the emerging market economies"

Subtext1: The Chinese hate the Japanese as so continue to buy German cars. Good thing too, otherwise I would have nothing good to report. Good thing the Chinese don't realize that the Japanese and the Germans were on the same side.

Subtext 2: Things are really bad.

Subtext 3:
Kill the ego, or it will kill the mission.
  • #847
  • Oct 6, 2011 8:26am Oct 6, 2011 8:26am
Quoting drtorque
me neither, but literally internet got cut off as i was entering my s/l...
like twilight zone.. checked the rates from cnbc for 20 mins, then went to bed so tired.. and woke up to losses
anyways, compensated all, but pumping stress for 24 hrs
I think you missed what I was saying.

My stop and target are already attached to the order BEFORE i hit the submit to buy or sell. I don't place the order and then come back and enter the SL & TP
I don't care which way the market is going as long as it's going my way
  • #848
  • Oct 6, 2011 8:31am Oct 6, 2011 8:31am
Quoting PipKiller
I think you missed what I was saying.

My stop and target are already attached to the order BEFORE i hit the submit to buy or sell. I don't place the order and then come back and enter the SL & TP
does that mean, you never use market orders? I used market order there..
  • #849
  • Oct 6, 2011 8:32am Oct 6, 2011 8:32am
Quoting PipKiller
I think you missed what I was saying.

My stop and target are already attached to the order BEFORE i hit the submit to buy or sell. I don't place the order and then come back and enter the SL & TP
I don't know about drtorque's broker, but some brokers do not allow that. You have to send the sl and tp as a different order.
Those who say it cannot be done should not interrupt those who are doing it
  • #850
  • Oct 6, 2011 8:33am Oct 6, 2011 8:33am
Quoting PipTrapper
just ask yourself which direction the fundamentals support.
decisions are only based on technicals
/ ... clarifying decisions ... /
  • #851
  • Oct 6, 2011 8:40am Oct 6, 2011 8:40am
great question: you bailed out Greece w/out meeting its requirements.
does that mean other countries will get the same pass?

no clear answer....
  • #852
  • Edited 9:09am Oct 6, 2011 8:43am | Edited 9:09am
Quoting walb99
decisions are only based on technicals
actually, it seems whatever he says, they are buying.
they dont care what he says... euro changed direction since he began talking..

tsk tsk, hope its over soon, it seems technical to me too, so far..
Let's what next...
At least stocks are still in red!
  • #853
  • Oct 6, 2011 8:45am Oct 6, 2011 8:45am
When even a .25% rate cut didn't come, looks like the market is bullish on it, at least short term. Bounced hard off S1 and is rolling back above the pivot. Sell the rumor, buy the news apparently. No news was good news and the US markets combined with the Brits having more sense than the ECB is pushing hard towards the upside.

If the 1H fibs are right though, and the long term down trend is still in effect, might switch back soon to the south side....hopefully.
  • #854
  • Oct 6, 2011 9:03am Oct 6, 2011 9:03am
Guess You Have To Blame EUR/GBP:

A big rally in EUR/GBP is apparent as EUR/USD jumps a cent and Cable remains glued at 1.53-ish.

I guess we’d have to conclude this is an order-driven rally in EUR/GBP which spawned a short-squeeze in EUR/USD…Ugly, whatever it is.
  • #855
  • Oct 6, 2011 9:05am Oct 6, 2011 9:05am
Quoting drtorque
tsk tsk, hope its over soon, it seems technical to me too, so far..
Let's what next...
At least stocks went south!
Quoting osthafen
Breakout:
Attachment

I think it's testing the bounderies of the channel after the breakout before falling again.
  • #856
  • Oct 6, 2011 9:07am Oct 6, 2011 9:07am
Quoting osthafen
I think it's testing the bounderies of the channel after the breakout before falling again.
thats what im thinking too.. but its spending too much time, can get back into that channel and go up too
  • #857
  • Oct 6, 2011 9:11am Oct 6, 2011 9:11am
Quoting osthafen
I think it's testing the bounderies of the channel after the breakout before falling again.
At this point, if it were going to make any more significant moves, they would be underway already. The market has already absorbed and processed the news.
Now we have to wait for NFP tomorrow.
In the meantime we may retest today's highs again until the GBP move from the UK QE2 announcement has settled down and all is balanced again.

Hey, maybe my sell limit order at 1.3480 will get triggered

.
Those who say it cannot be done should not interrupt those who are doing it
  • #858
  • Oct 6, 2011 9:14am Oct 6, 2011 9:14am
President Obama has just announced he will speak on his Jobs Plan again in 45 mins.

Careful for Stock Market moves.
  • #859
  • Oct 6, 2011 9:19am Oct 6, 2011 9:19am
Quoting tycan
President Obama has just announced he will speak on his Jobs Plan again in 45 mins.

Careful for Stock Market moves.
The market does not seem to be taking Obama seriously any more because they feel that the Republicans will block anything he tries to do just because it is a Democrat plan. Sad but true.
Those who say it cannot be done should not interrupt those who are doing it
  • #860
  • Oct 6, 2011 10:04am Oct 6, 2011 10:04am
This was on Reuters

Do your own European bank stress test calculator.

Enjoy.

I'm done for the week, Y'all have fun. I gotta get ready to go to Dallas.
I don't care which way the market is going as long as it's going my way
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