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  • #558,641
  • Nov 5, 2011 3:27am Nov 5, 2011 3:27am
Quoting FX Babie
if euro$ goges up usdcad will do up.
.
Don't you mean that this cross is negatively correlated... that EU up =Usdcad down?
Kill the ego, or it will kill the mission.
  • #558,642
  • Nov 5, 2011 3:28am Nov 5, 2011 3:28am
Quoting FX Babie
okay . too understand why usdcad is correlated w/ euro$ just look at thew dollar index..if dollar index is rallying what does it mekan for usdcad. it eill go up right ??? and what about eu . it will go down right ?? then that way usdcad and euro$ move in the opposite direction. if euro$ goges up usdcad will do up.
As for ej . it will follow euro unless boj is influencing it..
Quite a bit of the overall trend is very correlated, which is to be expected among pairs like this that are both related to the USDX, then again, the moves in the Euro have about 6 times the weight of those in the CAD which probably accounts for why intraday trading ranges are not necessarily correlated as strongly.
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  • #558,643
  • Nov 5, 2011 3:38am Nov 5, 2011 3:38am
Just be careful what assumptions you make regarding correlations.

What was highly correlated last time you looked may be way off synch now.

EU GU and EG is a good example. Fibre and cable may be running together, but when EG reacts to Supply or Demand (or whatever other terms you use for turning points), you can't expect them to remain so correlated.
  • #558,644
  • Nov 5, 2011 4:41am Nov 5, 2011 4:41am
Quoting Ifmyante
Just be careful what assumptions you make regarding correlations.

What was highly correlated last time you looked may be way off synch now.

EU GU and EG is a good example. Fibre and cable may be running together, but when EG reacts to Supply or Demand (or whatever other terms you use for turning points), you can't expect them to remain so correlated.
You're right. I never traded EG because I thought the moves are so much smaller than EU but recently found out that it is a relatively easy pair to trade. Especially when it is at the top or bottom of the current channel.
Like now it is contained between 0.8525 and 0.8890
So like where we are now 0.8595 leaves a 60 pip downward risk under normal circumstances. As a result I can trade this with higher leverage than I would normally use for EU or EG
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  • #558,645
  • Nov 5, 2011 4:53am Nov 5, 2011 4:53am
Quoting FX Babie
okay . too understand why usdcad is correlated w/ euro$ just look at thew dollar index..if dollar index is rallying what does it mekan for usdcad. it eill go up right ??? and what about eu . it will go down right ?? then that way usdcad and euro$ move in the opposite direction. if euro$ goges up usdcad will do up.
As for ej . it will follow euro unless boj is influencing it..
Correlation between EU and UCAD is inverted most of the time, but it depends on which currency drives the move.
If EU goes up, it can be driven by a stronger Euro, or a weaker Dollar, or both.
If EU goes up for instance because EZ has kicked the Greece problem further down the road, at the same time UCAD can go up driven by CAD strength due to higher oil prices. Then the correlation is gone.
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  • #558,646
  • Nov 5, 2011 5:37am Nov 5, 2011 5:37am
Simple analysis of Eur/usd
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  • #558,647
  • Nov 5, 2011 6:17am Nov 5, 2011 6:17am
Quoting LeanLowFx
Simple analysis of Eur/usd
nice and simple. with fib and channel you got the key levels covered for the h1.

had same chart view on friday, took a rewarding short at 38.2 closed and longed at lower channel. closed for weekend due to the obvious uncertainties from greece and increasingly italy
  • #558,648
  • Nov 5, 2011 7:04am Nov 5, 2011 7:04am
Quoting Chicky
Sorry for my ignorance, but what is S/L? I tried to google it, but it says it is some place in Pakistan, is it Sri Lanka?

http://en.wikipedia.org/wiki/S.L._Benfica

Hi Chicky, i know that wasn't your intention... but...

Benfica S.L. is a portuguese football club with more than 100 years and a great european history. Benfica has more than 6 million supporters, and like one of them it's part of my life. Not a country

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  • #558,649
  • Nov 5, 2011 9:18am Nov 5, 2011 9:18am
EU = 1.37905 at the moment >>>> GAP UP expected tomorrow
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  • #558,650
  • Nov 5, 2011 10:31am Nov 5, 2011 10:31am
Quoting LeanLowFx
Simple analysis of Eur/usd
Hi LeanLowFx,

How do you draw the TrendLine & Horizontal lines ? Do you do it manually or is there any indicator that draw the lines automatically ???

Thanks
-pedma-
Good friends are more valuable than gold ...
  • #558,651
  • Nov 5, 2011 11:06am Nov 5, 2011 11:06am
EG: LONG
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  • #558,652
  • Nov 5, 2011 11:10am Nov 5, 2011 11:10am
EU LONG
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  • #558,653
  • Nov 5, 2011 11:30am Nov 5, 2011 11:30am
Quoting KillerWhale
EU LONG

if it is based on technical why can't be short???, eur trying hard to go up, can fall down also right??
  • #558,654
  • Nov 5, 2011 11:48am Nov 5, 2011 11:48am
GU: SHORT
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  • #558,655
  • Nov 5, 2011 11:50am Nov 5, 2011 11:50am
Quoting KillerWhale
EU LONG
It looks more like a bearish flag....
Attached Image
Read Charts - Not Papers
  • #558,656
  • Nov 5, 2011 11:50am Nov 5, 2011 11:50am
Quoting robert7
if it is based on technical why can't be short???, eur trying hard to go up, can fall down also right??
Everything is possible, but right at this moment the charts already show a GAP UP for tomorrow.
It all depends on what stupid comments we can expect from the Greek Government and European leaders.
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  • #558,657
  • Nov 5, 2011 11:52am Nov 5, 2011 11:52am
Quoting halkins
It looks more like a bearish flag....
Attachment
Like I said, everything is possible.
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  • #558,658
  • Nov 5, 2011 11:54am Nov 5, 2011 11:54am
Quoting halkins
It looks more like a bearish flag....
Attachment
Spot ON!
If there was easy money lying around,no one would be forcing it into your
  • #558,659
  • Nov 5, 2011 11:56am Nov 5, 2011 11:56am
Quoting KillerWhale
Like I said, everything is possible.
Yes
If there was easy money lying around,no one would be forcing it into your
  • #558,660
  • Nov 5, 2011 12:03pm Nov 5, 2011 12:03pm
Quoting robert7
if it is based on technical why can't be short???, eur trying hard to go up, can fall down also right??
It can go anywhere.....

If you have a method ,a trading plan it really doesn't matter where it goes. You just trade your setup. It is that simple. Speculation about where it can/could go should not influence your setup or trading plan.
Keep it simple. Forecasting will keep you out of trades. Focus on a method/ setup and trade that.
Never Ever Give Up!
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