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  • #598,501
  • Feb 22, 2012 12:27pm Feb 22, 2012 12:27pm
Quoting uptrendup
Please look at daily chart of: GBP/USD,AUS/SD,NZD/USD all within past 3 days about 200 pips went downside but EUR/USD still is up , as those pairs follow eachother can someone explain what has happened & why EUR/USD didnt go down like other pairs.
Thanks alot.
Well, you need some proper fundies to fuel big moves...

EUR/USD is not really moving, because fundamentally, we should go south, but since major indices are kept artificially going north, we are still in a risk on environment, it goes neither up nor down...Imho we have to wait till SP, DJ and co. hit their respective resistances and bounce south.

Btw, you should look at it from a slightly different perspective - we had a huge event this Monday, after months and months of negotiations, Eurogroup finally agreed to give Greece its second bail out - that should remove uncertainties and catapult EUR higher, right? Did it happen? Nope.

So I am fairly bearish here, but firstly, I would really, really love to see EU hit 1.336 and turn there, but this is not a dream, things will most likely develop in a different fashion.
Quant Hedge Fund CEO
  • #598,502
  • Feb 22, 2012 12:29pm Feb 22, 2012 12:29pm
Turmaz, this market requires 3 building blocks for "it"(forex) to be successful over you. Hope, ego, and lack of confidence. Hope your trade is right, or should I say, comes back your way. Enough ego to hang on to it for a margin call. No confidence in your trading because you possess the previous two.
  • #598,503
  • Feb 22, 2012 12:30pm Feb 22, 2012 12:30pm
Talking of weekly charts,lets look at one.
Last weeks bar tested lower ground and rejected it ,
the close could have been better for a bullish run but
its good enough.
It shouldn't be to hard to retest the old high of 3320.
After that 3430 is a biggy and if we get carried away
then 3750 isn't out of the question if we can clear 3600.I called the 3320 which we hit already about 2 weeks
before we got there.
Was short today cause i was looking for more of a pullback but it doesn't look like thats going to happen.
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You can remain irrational longer than you can remain solvent.
  • #598,504
  • Feb 22, 2012 12:31pm Feb 22, 2012 12:31pm
Quoting FXMastermind
Well, you need some proper fundies to fuel big moves...

EUR/USD is not really moving, because fundamentally, we should go south, but since major indices are kept artificially going north, we are still in a risk on environment, it goes neither up nor down...Imho we have to wait till SP, DJ and co. hit their respective resistances and bounce south.

Btw, you should look at it from a slightly different perspective - we had a huge event this Monday, after months and months of negotiations, Eurogroup finally agreed to give Greece its second bail out...
bloody scalpers
  • #598,505
  • Feb 22, 2012 12:32pm Feb 22, 2012 12:32pm
Anyone have any idea on the sudden movement in Gold ,would have expected Oil to move as well if it was some kind of tension building up in Iran, but this move is not reflected anywhere else,not even in Silver ???
Officer ... I swear to drunk I am not God
  • #598,506
  • Feb 22, 2012 12:36pm Feb 22, 2012 12:36pm
Originally Posted by FXMastermind http://www.forexfactory.com/images/buttons/viewpost.gif
Well, you need some proper fundies to fuel big moves...

EUR/USD is not really moving, because fundamentally, we should go south, but since major indices are kept artificially goi

Thank you FXMstermind.
  • #598,507
  • Feb 22, 2012 12:38pm Feb 22, 2012 12:38pm
Quoting Fidza
Anyone have any idea on the sudden movement in Gold ,would have expected Oil to move as well if it was some kind of tension building up in Iran, but this move is not reflected anywhere else,not even in Silver ???

Zerohedge.com replied partialy :

Gold Spike Abruptly To Over $1770, Silver Follows


"Day after day, the long overdue correction of gold to fair value which as we have discussed previously, is now at about $2000 based on the recent multi-trillion Central Bank balance sheet expansion, keeps getting delayed, providing cheap entry points to all real money adherents. And then we get moments like the past 10 minutes, when gold goes on the same kinds of buying sprees that we remember best from the summer of 2011. With no news at all, in a span of minutes, both gold and silver have soared, with gold touching on $1772, and now about $150 away from its all time highs. The return of gold now is 13% YTD, compared to the far lower 8.4% return for the general market. Why the move? A big buyer obviously. But besides that, why the hell not - when one considers that the last time gold was over $1900, total central bank assets were $2 trillion less, it is a miracle gold is not far, far higher. The catalyst this time according to some is the "sudden realization" that in one week the ECB's balance sheet is about to increase by at least 20% courtesy of the latest and greatest LTRO. "
Sic Transit Gloria Mundi ~ Thus passes the glory of the world
  • #598,508
  • Feb 22, 2012 12:38pm Feb 22, 2012 12:38pm
Quoting miketodd
Turmaz, this market requires 3 building blocks for "it"(forex) to be successful over you. Hope, ego, and lack of confidence. Hope your trade is right, or should I say, comes back your way. Enough ego to hang on to it for a margin call. No confidence in your trading because you possess the previous two.
well said mike!
im hoping but not blindly i ve no ego regarding this trade my SL is 1.3140 with 5% money mannegment and i ve confidence with conviction that it hit my TP 1.3481

i believe i will learn somthing from you im a humble man this market made me humble
  • #598,509
  • Feb 22, 2012 12:42pm Feb 22, 2012 12:42pm
Quoting Fidza
Anyone have any idea on the sudden movement in Gold ,would have expected Oil to move as well if it was some kind of tension building up in Iran, but this move is not reflected anywhere else,not even in Silver ???
this is a 60 day breakout and its all technical it should go up to atleast 1800 its nothing with iran or fundamentaly
  • #598,510
  • Feb 22, 2012 12:42pm Feb 22, 2012 12:42pm
Quoting KillerWhale
13 years of trading and losing 50% of your account?
Your must be a born loser.

lol
  • #598,511
  • Feb 22, 2012 12:45pm Feb 22, 2012 12:45pm
Quoting aerotrade
Zerohedge.com replied partialy :

Gold Spike Abruptly To Over $1770, Silver Follows


"Day after day, the long overdue correction of gold to fair value which as we have discussed previously, is now at about $2000 based on the recent multi-trillion Central Bank balance sheet expansion, keeps getting delayed, providing cheap entry points to all real money adherents. And then we get moments like the past 10 minutes, when gold goes on the same kinds of buying sprees that we remember best from the summer of 2011. With no news at all, in a span of...
Yeah cheers for that , seems to be someone with loads of dough just satisfied his Gold craving, bloody odd though to spike so much like that out of the blue.And silver has not really moved as much as they are saying , its not even touched yesterdays high .
Officer ... I swear to drunk I am not God
  • #598,512
  • Feb 22, 2012 12:46pm Feb 22, 2012 12:46pm
Quoting turmaz
this is a 60 day breakout and its all technical it should go up to atleast 1800 its nothing with iran or fundamentaly
interesting to notice that goldman lowered commodity forcast for 2012 sounded to me like when all headline advertised gold at 2200usd at the end of 2011 some day before the CME maintenance margin hikes and the severe correction

Goldman seems a good contrarian indicator
Sic Transit Gloria Mundi ~ Thus passes the glory of the world
  • #598,513
  • Feb 22, 2012 12:47pm Feb 22, 2012 12:47pm
Quoting turmaz
this is a 60 day breakout and its all technical it should go up to atleast 1800 its nothing with iran or fundamentaly
I understand that , but still does not justify a sudden move of that magnitude , but its all good I did have a couple of longs, just trying to figure if there was a reason so I can decide wether to close or ride it out.
Officer ... I swear to drunk I am not God
  • #598,514
  • Feb 22, 2012 12:48pm Feb 22, 2012 12:48pm
Quoting Fidza
Yeah cheers for that , seems to be someone with loads of dough just satisfied his Gold craving, bloody odd though to spike so much like that out of the blue.
if pulls back buy this dip its major breakout 12 weeks
  • #598,515
  • Feb 22, 2012 12:48pm Feb 22, 2012 12:48pm
Quoting aerotrade
Zerohedge.com replied partialy :

Gold Spike Abruptly To Over $1770, Silver Follows


"Day after day, the long overdue correction of gold to fair value which as we have discussed previously, is now at about $2000 based on the recent multi-trillion Central Bank balance sheet expansion, keeps getting delayed, providing cheap entry points to all real money adherents. And then we get moments like the past 10 minutes, when gold goes on the same kinds of buying sprees that we remember best from the summer of 2011. With no news at all, in a span of...
Sorry but what a load of bull,everyone knew about this LTRO and the ECB's balance sheet the day of the last one ,theres always a news story
to match the move.I guess some shorts covering or some ETF rebalancing
doesn't sound clever enough.
You can remain irrational longer than you can remain solvent.
  • #598,516
  • Feb 22, 2012 12:52pm Feb 22, 2012 12:52pm
Quoting turmaz
if pulls back buy this dip its major breakout 12 weeks
I haven't closed my longs yet , just trying to understand it ,but yeah about damn time too...
And sorry guys for going off topic , I know its got nothing to do with E/U
Officer ... I swear to drunk I am not God
  • #598,517
  • Feb 22, 2012 12:52pm Feb 22, 2012 12:52pm
okay traders me leaving hope u ppl might see break out in the asian session as exactly gold just did in ny sessions cover ur shorts in eur/usd

HAPPY TRADING TO YOU ALL!!!
  • #598,518
  • Feb 22, 2012 12:54pm Feb 22, 2012 12:54pm
  •  orzels
  • | Joined Nov 2011 | Status: Buy at resistance, Sell at support™ | 309 Posts
Last moments of calm EURUSD...
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  • #598,519
  • Feb 22, 2012 12:58pm Feb 22, 2012 12:58pm
Tomorrow is a holiday. I am happy. Job done, money in.
  • #598,520
  • Feb 22, 2012 12:58pm Feb 22, 2012 12:58pm
Quoting jezek5
Sorry but what a load of bull,everyone knew about this LTRO and the ECB's balance sheet the day of the last one ,theres always a news story
to match the move.I guess some shorts covering or some ETF rebalancing
doesn't sound clever enough.
Yes but it is undervalued still, and silver is under performing still

I been telling everyone to start building, dont know how many more dips will come
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