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EurAnalysis Kindergarten 24 replies

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  • #31,101
  • May 17, 2012 6:44am May 17, 2012 6:44am
BBH - Potential for a short-covering corrective rally in the euro

Thu, May 17 2012, 13:26 CET | Interbank Talk
source: BBH

" With fresh Greek elections nearly a month away, there may be potential for a short-covering corrective rally in the euro. At this point, much of the bad news has been discounted and given the sharp swings in price action that have taken place recently, it will be difficult to sustain this downward momentum without a new impetus. This backdrop would favor selling the dollar against the dollar bloc and Scandis as well. However, the crisis in the euro zone is still likely to get worse before it gets better and so any pause in the selling pressure is likely to be temporary. The euro is trading just shy of a 4-month low, with near-term support near $1.2680. Resistance lies near $1.2800." BBH Global Currency Strategy Team.
  • #31,102
  • May 17, 2012 6:47am May 17, 2012 6:47am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
Quoting FXSwissTrader
BBH - Potential for a short-covering corrective rally in the euro

Thu, May 17 2012, 13:26 CET | Interbank Talk
source: BBH

" With fresh Greek elections nearly a month away, there may be potential for a short-covering corrective rally in the euro. At this point, much of the bad news has been discounted and given the sharp swings in price action that have taken place recently, it will be difficult to sustain this downward momentum without a new impetus. This backdrop would favor selling...
Good, but.... it's a bank again - they must know something we don't and that's why they are giving us mixed signals in order to confuse us. It must be a conspiracy against EurAnalysis....
  • #31,103
  • May 17, 2012 6:48am May 17, 2012 6:48am
Quoting Likerty
Two of my three reasons invalidated - looking how divergence plays out..
I use average of stochastics from different time frames for divergences
Thx for a chart, Likerty...
I've got your point, buddy, but I am afraid you mixed up things here.
Hmm,,, my first glance at the chart and I can see you've misled loosing momentum theory with entry points using your divergence strategies...
Read Charts - Not Papers
  • #31,104
  • May 17, 2012 6:50am May 17, 2012 6:50am
Quoting AFXFin
Good, but.... it's a bank again - they must know something we don't and that's why they are giving us mixed signals in order to confuse us. It must be a conspiracy against EurAnalysis....
What is one to do? Can't go short. Not ready to go long. Sigh.............
  • #31,105
  • May 17, 2012 6:58am May 17, 2012 6:58am
I'm starting to think we might not rally until the day facebook IPO. I think it's tomorrow. Can someone in U.S confirm? Certainly the S&P will be up that day and will jump start risk on.
  • #31,106
  • May 17, 2012 7:03am May 17, 2012 7:03am
Closing one of the short from 1.3269 level....
Attached Image (click to enlarge)
Click to Enlarge Name: eu.4.gif Size: 16 KB
Bulls Run. Bears Bite. We Profit.
  • #31,107
  • May 17, 2012 7:05am May 17, 2012 7:05am
Quoting Harpe Eagle
Closing one of the short from 1.3269 level....
Congrats Harpe.
  • #31,108
  • May 17, 2012 7:05am May 17, 2012 7:05am
Quoting halkins
Thx for a chart, Likerty...
I've got your point, buddy, but I am afraid you mixed up things here.
Hmm,,, my first glance at the chart and I can see you've misled loosing momentum theory with entry points using your divergence strategies...
Actually I should waited momentum change pattern first but today was realy one way direction...
Those divergences works just fine especialy on M15 tf - I will post more settups when they will merge up
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  • #31,109
  • May 17, 2012 7:05am May 17, 2012 7:05am
Quoting Harpe Eagle
Closing one of the short from 1.3269 level....
how many hidden shorts you have? every 2-3 days later you come back with your huge pips ?
  • #31,110
  • May 17, 2012 7:06am May 17, 2012 7:06am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
Quoting FXSwissTrader
I'm starting to think we might not rally until the day facebook IPO. I think it's tomorrow. Can someone in U.S confirm? Certainly the S&P will be up that day and will jump start risk on.
Tomorrow is friday and market tends to go crazy. Traders are closing trades for a week and you can imagine what trades they are? Shorties.

Just be patient like our Euro-bear - in this case like Euro-Bull

Situation must mature enough in order to break-out. It is Ascension Day today and tomorrow will be market ascension day.

New Yorkers just stepped in and we see some price action - and there is no other direction but up unless they want to get smelly fingers...

BTW: yesterday FOCM they were worried about unemployment numbers... That could be a old Benny Trap.
  • #31,111
  • May 17, 2012 7:09am May 17, 2012 7:09am
Quoting FXSwissTrader
What is one to do? Can't go short. Not ready to go long. Sigh.............
Isn't there a button to go sideways?
Those who say it cannot be done should not interrupt those who are doing it
  • #31,112
  • May 17, 2012 7:10am May 17, 2012 7:10am
Quoting FXSwissTrader
Congrats Harpe.
Thanks buddy

Quoting rekon67
how many hidden shorts you have? every 2-3 days later you come back with your huge pips ?
Hahaha lol..! Few more to go
Bulls Run. Bears Bite. We Profit.
  • #31,113
  • May 17, 2012 7:15am May 17, 2012 7:15am
Quoting FXSwissTrader
I'm starting to think we might not rally until the day facebook IPO. I think it's tomorrow. Can someone in U.S confirm? Certainly the S&P will be up that day and will jump start risk on.
Yes markets will probably go up tomorrow but that will not be related to Facebook IPO. Actually Facebook IPO will be a flop in my opinion. I cannot imagine what the hype is all about.

Anyway, yes markets will go up... but it is because it is Friday and there will be much short covering in equities & E/U. There will also be some profit taking on USD (DXY) longs.
Those who say it cannot be done should not interrupt those who are doing it
  • #31,114
  • May 17, 2012 7:15am May 17, 2012 7:15am
PipTrapper - is that theory still valid about turning back from 88.6 to 38.2 on daily? It's 94% already...
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  • #31,115
  • May 17, 2012 7:21am May 17, 2012 7:21am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
10 minutes to Benny Trap.

Normally when US authorities are worried about unemployment it tends to be better than expected... this is quite odd situation now... where would price go?

I don't believe even US traders are fool to short now.

Besides too strong USD hurts US economy growth.
After the numbers we'll see our dear friend Timmy speaking.

Attached Image
  • #31,116
  • May 17, 2012 7:23am May 17, 2012 7:23am
Quoting Likerty
PipTrapper - is that theory still valid about turning back from 88.6 to 38.2 on daily? It's 94% already...
For now it is still valid as Fibonacci levels work on a candle close basis.
So as long as today's candle closes near the 88.6% mark, we're still good (except if the wick pierces below the 100% level)
Those who say it cannot be done should not interrupt those who are doing it
  • #31,117
  • May 17, 2012 7:23am May 17, 2012 7:23am
Quoting Harpe Eagle
Thanks buddy



Hahaha lol..! Few more to go

amazing Harpe you are the true inheritor of PT keep it up
  • #31,118
  • May 17, 2012 7:25am May 17, 2012 7:25am
Quoting AFXFin
10 minutes to Benny Trap.

Normally when US authorities are worried about unemployment it tends to be better than expected... this is quite odd situation now... where would price go?

I don't believe even US traders are fool to short now.

Besides too strong USD hurts US economy growth.
They don't have to worry about strong dollar. They don't have anything to export.
  • #31,119
  • May 17, 2012 7:26am May 17, 2012 7:26am
A little bit of demand on dips ahead of 1.2650 but ACB’s are still sellers

Thu, May 17 2012, 14:22 CET | Forex Live


By: Jamie Coleman

As I highlighted yesterday, the shoe is now on the other foot for the Asian central banks. Instead of buying EUR/USD on dips for reserve diversification, they are now selling EUR/USD into rallies to keep (modestly) shrinking reserve baskets in balance. Those sales are helping keep the downtrend in a very orderly and tidy fashion. Barriers at 1.2650 are eyed with others at 1.2625 and 1.2600, 1.2625 is the obvious downside level, the January low.
  • #31,120
  • May 17, 2012 7:26am May 17, 2012 7:26am
  •  AFXFin
  • | Joined Oct 2011 | Status: Price don't have a mind of it's own | 915 Posts
Quoting FXSwissTrader
They don't have to worry about strong dollar. They don't have anything to export.
Yeah - all exports are done from china, but they are paid in dollars...
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