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  • #557,901
  • Nov 3, 2011 2:22pm Nov 3, 2011 2:22pm
Quoting tashkent
well, i suppose the Chinese move is purely for macroeconomic reasons, if Europe is in trouble, China will be hit too. global economy, trade balance, bla, bla.
i think they do that because they have some inside reasons but they will express that in the purely macroeconomic reasons as you just mentioned.

for example, if you buy a t-shirt made in china at US or Europe, you probably need to pay for 10 dollars but if you buy the same one in china you need to pay for more than 15 dollars and those labours who work in china to produce the t-shirt probably can earn 1 yuan (15 us cents).... so thats how they help the whole world international trading develop, and they charge high education fee, no medical care, no social support for disability people so they can save the money to help other countries...
  • #557,902
  • Nov 3, 2011 2:35pm Nov 3, 2011 2:35pm
I agree with Pipsforall: price is definitely not being driven by fundamentals.

Wanna help recapitalize the big banks? FADE EUR/USD! GO SHORT!

They're about ready to run a big pile of stops up above... be the last one to go short and put your stop up there with the rest of them!!! Do a good deed for the big banks!!! Yea big banks.
  • #557,903
  • Nov 3, 2011 2:38pm Nov 3, 2011 2:38pm
May I suggest you put a stop around 1.3875 ...if you put it there, they're almost certain to run it and they'll sure be grateful!

Thanks in advance.
  • #557,904
  • Nov 3, 2011 2:41pm Nov 3, 2011 2:41pm
Quoting Pipsforall
Today is a prime example of why you don't follow fundamentals, just the charts. ECB cuts rates, hints to QE down the road and further cuts, paints a very bearish picture of the European economy, and what happens, the Euro skyrockets. lol Despite the fact that all the analysts have said that the EU bailout plan announced last week doesn't cut it to begin with.

you are right and that is exactly why making money in forex is difficult, there are so many factors beside fundamentals, like PA, supply and demand, charts, news, market and human psychology of course too...
As Above, So Below
  • #557,905
  • Nov 3, 2011 2:43pm Nov 3, 2011 2:43pm
Quoting Yuchen
i think they do that because they have some inside reasons but they will express that in the purely macroeconomic reasons as you just mentioned.

for example, if you buy a t-shirt made in china at US or Europe, you probably need to pay for 10 dollars but if you buy the same one in china you need to pay for more than 15 dollars and those labours who work in china to produce the t-shirt probably can earn 1 yuan (15 us cents).... so thats how they help the whole world international trading develop, and they charge high education fee, no medical...
sad but true!
As Above, So Below
  • #557,906
  • Nov 3, 2011 2:43pm Nov 3, 2011 2:43pm
Quoting tashkent
you are right and that is exactly why making money in forex is difficult, there are so many factors beside fundamentals, like PA, supply and demand, charts, news, market and human psychology of course too...
Yep, and that's what makes it so much fun! lol
Yay! Pips for everyone!
  • #557,907
  • Nov 3, 2011 2:45pm Nov 3, 2011 2:45pm
Btw, I'm short here for a move back to the bottom of the current range, therefore, expect a breakout tonight to 1.40 and a golden retrace of the last big leg down. lol
Yay! Pips for everyone!
  • #557,908
  • Nov 3, 2011 2:47pm Nov 3, 2011 2:47pm
EUR/USD about to bounce soon.
  • #557,909
  • Nov 3, 2011 2:48pm Nov 3, 2011 2:48pm
Quoting Kowalczyk
EUR/USD about to bounce soon.
Could be, but I think a close below 1.3834 would be bearish.
Yay! Pips for everyone!
  • #557,910
  • Nov 3, 2011 2:49pm Nov 3, 2011 2:49pm
I have a sell limit at 1.39685 with s/l at 1.40685. let's see if my order will be triggered after 18 hours
  • #557,911
  • Nov 3, 2011 2:50pm Nov 3, 2011 2:50pm
Reuters reports that Mr P has agreed to step down and give power to a negotiated coalition government IF the opposition helps him win the no confidence vote.

Eur bounce up incoming?
  • #557,912
  • Nov 3, 2011 2:51pm Nov 3, 2011 2:51pm
Quoting Kowalczyk
EUR/USD about to bounce soon.
We might make another low short term. Looking for about 1.3810/05 for a bottom.
  • #557,913
  • Nov 3, 2011 2:52pm Nov 3, 2011 2:52pm
Quoting Nik655
Reuters reports that Mr P has agreed to step down and give power to a negotiated coalition government IF the opposition helps him win the no confidence vote.

Eur bounce up incoming?
That doesn't make any sense. So the opposition will vote that it has confidence in him, then after he wins his confidence vote, he will resign.
Yay! Pips for everyone!
  • #557,914
  • Nov 3, 2011 2:53pm Nov 3, 2011 2:53pm
Quoting Yuchen
I have a sell limit at 1.39685 with s/l at 1.40685. let's see if my order will be triggered after 18 hours
Depending on tomorrow....i might higher my target to 1,4100
But 1,3970 will be the key for either a big reversal or further move up
COT: The precious data ignored
  • #557,915
  • Nov 3, 2011 2:54pm Nov 3, 2011 2:54pm
Quoting kuroro001
Depending on tomorrow....i might higher my target to 1,4100
But 1,3970 will be the key for either a big reversal or further move up
That's what makes a market, I'm on the other side of you. lol
Yay! Pips for everyone!
  • #557,916
  • Nov 3, 2011 2:55pm Nov 3, 2011 2:55pm
Makes total sense. He doesnt want to just drop out and go down in history as a total failure.

Here is what Reuters says:

Exclusive: Greek Prime Minister George Papandreou has struck a deal with ministers to step down and hand power to a negotiated coalition government if they help him win a confidence vote on Friday, government sources with knowledge of a cabinet meeting said.

"He was told that he must leave calmly in order to save his party," one source told Reuters on condition of anonymity. "He agreed to step down. It was very civilized, with no acrimony."
  • #557,917
  • Nov 3, 2011 2:56pm Nov 3, 2011 2:56pm
Quoting kuroro001
Depending on tomorrow....i might higher my target to 1,4100
But 1,3970 will be the key for either a big reversal or further move up
thanks, i always get benefit from your hint..
so you have a long EU position now?
  • #557,918
  • Nov 3, 2011 2:56pm Nov 3, 2011 2:56pm
Quoting Tellerton
I agree with Pipsforall: price is definitely not being driven by fundamentals.

Wanna help recapitalize the big banks? FADE EUR/USD! GO SHORT!

They're about ready to run a big pile of stops up above... be the last one to go short and put your stop up there with the rest of them!!! Do a good deed for the big banks!!! Yea big banks.
Soon enough the market will focus on how bearish the ECB was today and what that means for the EURO. We certainly could see 1.41 before that happens, but ultimately, I think we see 1.30 before we see 1.4250.
Yay! Pips for everyone!
  • #557,919
  • Nov 3, 2011 2:57pm Nov 3, 2011 2:57pm
Quoting Kowalczyk
We might make another low short term. Looking for about 1.3810/05 for a bottom.
Now looking for a bounce. Things look good for the bulls right about now (short term)
  • #557,920
  • Nov 3, 2011 2:59pm Nov 3, 2011 2:59pm
Quoting Nik655
Makes total sense. He doesnt want to just drop out and go down in history as a total failure.

Here is what Reuters says:

Exclusive: Greek Prime Minister George Papandreou has struck a deal with ministers to step down and hand power to a negotiated coalition government if they help him win a confidence vote on Friday, government sources with knowledge of a cabinet meeting said.

"He was told that he must leave calmly in order to save his party," one source told Reuters on condition of anonymity. "He agreed to step down. It was very...
Well when you put up that quote is does make sense. lol I think its a shame that Sarkozy and Merkel bullied him out of power when he was doing what was the best for his people, what the Europeans want Greece to endure for the next 3 decades is going to lead to horrendous living conditions for the populace IMHO.
Yay! Pips for everyone!
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