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  • #649,781
  • May 31, 2012 1:11am May 31, 2012 1:11am
Quoting GreatNorth
I know you are talking about Gold, but I have been looking at strong monthly support at 2363.7 for EUR/USD. For me, it's a key level

I think this is the bottom for awhile ----> Wait&See.
Where are you getting your "monthly support" from? the next monthly low I see is july 2010, around 1.2200... I don't see any monthly low here at 2360ish....
  • #649,782
  • May 31, 2012 1:22am May 31, 2012 1:22am
Rat sees support round here plenty of it.
rat
  • #649,783
  • May 31, 2012 1:22am May 31, 2012 1:22am
Morning guys.

A lot of news to come out today, so you should watch your back. The "bull train" that everyone was reffering to was just another profit taking (as it is the end of the freakin' month), yet my bias is still bearish (not heavy bearish, just bearish).

I'll look for shorting opportunities from 1.2410 to 1.2395-2400. The ammount of news coming up are mostly from the USD, whilst there's only one conference including M. Draghi.

Sooo, eyes peeled, and do your "thang". Green pips.
Please, just slap me around if I'm being silly ...
  • #649,784
  • May 31, 2012 1:25am May 31, 2012 1:25am
Quoting daemon_delux
Morning guys.

A lot of news to come out today, so you should watch your back. The "bull train" that everyone was reffering to was just another profit taking (as it is the end of the freakin' month), yet my bias is still bearish (not heavy bearish, just bearish).

I'll look for shorting opportunities from 1.2410 to 1.2395-2400. The ammount of news coming up are mostly from the USD, whilst there's only one conference including M. Draghi.

Sooo, eyes peeled, and do your "thang". Green pips.
nice levels!
yes end of the month also pre Non Farm...
profit taking is more likely be the case...

we also have Irish stability treaty vote later in Europe...
Patience, Emotion Control and Discipline.
  • #649,785
  • May 31, 2012 1:26am May 31, 2012 1:26am
Quoting daemon_delux
Morning guys.

A lot of news to come out today, so you should watch your back. The "bull train" that everyone was reffering to was just another profit taking (as it is the end of the freakin' month), yet my bias is still bearish (not heavy bearish, just bearish).

I'll look for shorting opportunities from 1.2410 to 1.2395-2400. The ammount of news coming up are mostly from the USD, whilst there's only one conference including M. Draghi.

Sooo, eyes peeled, and do your "thang". Green pips.
Good Morning sir. think it is going to 1.2450-1.2480 today. will keep a pending sell order at 1.2450
  • #649,786
  • May 31, 2012 1:28am May 31, 2012 1:28am
Quoting daemon_delux
Morning guys.

A lot of news to come out today, so you should watch your back. The "bull train" that everyone was reffering to was just another profit taking (as it is the end of the freakin' month), yet my bias is still bearish (not heavy bearish, just bearish).

I'll look for shorting opportunities from 1.2410 to 1.2395-2400. The ammount of news coming up are mostly from the USD, whilst there's only one conference including M. Draghi.

Sooo, eyes peeled, and do your "thang". Green pips.
To add on oil is also adding to the EUR/USD upward momentum but it won't be sustainable.
  • #649,787
  • May 31, 2012 1:30am May 31, 2012 1:30am
Quoting Esssex
To add on oil is also adding to the EUR/USD upward momentum but it won't be sustainable.
Uhm, might sound like a noobish question, but I'll fire away : what's the correlation between crude and EU? Please, explain.

Also, Nachi, why do you have those levels in mind?
Please, just slap me around if I'm being silly ...
  • #649,788
  • May 31, 2012 1:30am May 31, 2012 1:30am
Morning Everybody!

hehe... A new day, new challenges.. In a market that's as unpredictable as a woman - or IS the market a woman?
  • #649,789
  • May 31, 2012 1:33am May 31, 2012 1:33am
Quoting forextraderx
Where are you getting your "monthly support" from? the next monthly low I see is july 2010, around 1.2200... I don't see any monthly low here at 2360ish....
oct 08 low 2329

edit: Nov 08 low 2388

edit: its actualli the low in 2008
Patience, Emotion Control and Discipline.
  • #649,790
  • May 31, 2012 1:42am May 31, 2012 1:42am
Quoting daemon_delux
Uhm, might sound like a noobish question, but I'll fire away : what's the correlation between crude and EU? Please, explain.

Also, Nachi, why do you have those levels in mind?

assuming today's low for the day and monday's high for the week the difference comes to 260 pips. 50% retracement comes to 130 pips which comes to 1.2470-80 nearish but these levels may or may not come. I am putting a safe sell at 1.2450 to ensure my sell order gets executed.
  • #649,791
  • May 31, 2012 1:43am May 31, 2012 1:43am
Quoting daemon_delux
Uhm, might sound like a noobish question, but I'll fire away : what's the correlation between crude and EU? Please, explain.

Also, Nachi, why do you have those levels in mind?
Higher crude prices can mean a weaker USD due to it being traded mainly in USD. Producers will increase prices to make up for the loss of profits due to foreign exchange risk.

It can also mean risk on sentiment in the market as people are reallocating money into more speculative assets. In the long run, a long term increase in oil prices/demand indicates a better global economic outlook as oil is required to produce/ship goods.

It all fuels risk on sentiment and EUR/USD is a risk currency pair.

The time when an increase in crude doesn't mean strength in risk assets is if the price increase of crude results from a drop in supply rather than demand.
  • #649,792
  • May 31, 2012 1:43am May 31, 2012 1:43am
Quoting Nachiket
assuming today's low for the day and monday's high for the week the difference comes to 260 pips. 50% retracement comes to 130 pips which comes to 1.2470-80 nearish but these levels may or may not come. I am putting a safe sell at 1.2450 to ensure my sell order gets executed.
one more thing average daily range comes to 96 pips for this pair. today's range is 42 pips. add 54 pips to today's high and it comes to 1.2453
  • #649,793
  • May 31, 2012 1:46am May 31, 2012 1:46am
Euro goes up, it means bull or still bearish trend??
  • #649,794
  • May 31, 2012 1:48am May 31, 2012 1:48am
Quoting daemon_delux
Morning guys.

A lot of news to come out today, so you should watch your back. The "bull train" that everyone was reffering to was just another profit taking (as it is the end of the freakin' month), yet my bias is still bearish (not heavy bearish, just bearish).

I'll look for shorting opportunities from 1.2410 to 1.2395-2400. The ammount of news coming up are mostly from the USD, whilst there's only one conference including M. Draghi.

Sooo, eyes peeled, and do your "thang". Green pips.
Got exactly the same levels,

Morning guys
swing it!
  • #649,795
  • May 31, 2012 1:51am May 31, 2012 1:51am
Good morning guys as well.
  • #649,796
  • May 31, 2012 1:54am May 31, 2012 1:54am
Quoting Esssex
Higher crude prices can mean a weaker USD due to it being traded mainly in USD. Producers will increase prices to make up for the loss of profits due to foreign exchange risk.

It can also mean risk on sentiment in the market as people are reallocating money into more speculative assets. In the long run, a long term increase in oil prices/demand indicates a better global economic outlook as oil is required to produce/ship goods.

It all fuels risk on sentiment and EUR/USD is a risk currency pair.

The time when an increase in crude doesn't...
Thanks for clearing up, those are words of wisdom. Never understood this correlation, now it's clearer.

Also, Nachi, the daily pip range could go bearish, imo.
Please, just slap me around if I'm being silly ...
  • #649,797
  • May 31, 2012 1:54am May 31, 2012 1:54am
Quoting Esssex
Higher crude prices can mean a weaker USD due to it being traded mainly in USD. Producers will increase prices to make up for the loss of profits due to foreign exchange risk.

It can also mean risk on sentiment in the market as people are reallocating money into more speculative assets. In the long run, a long term increase in oil prices/demand indicates a better global economic outlook as oil is required to produce/ship goods.

It all fuels risk on sentiment and EUR/USD is a risk currency pair.

The time when an increase in crude doesn't mean...
although i had studied this before, it was still really nice to read. thumbs up to you
Daily Target: 20 pips
  • #649,798
  • May 31, 2012 1:56am May 31, 2012 1:56am
ECB President Draghi Speaks speaking again , does this his full time job now ?
Mohan
  • #649,799
  • May 31, 2012 1:57am May 31, 2012 1:57am
Anyone knows where I can watch Mr Draghi ?
  • #649,800
  • May 31, 2012 1:58am May 31, 2012 1:58am
Quoting Esssex
Anyone knows where I can watch Mr Draghi ?
No need for that.. if you want to watch something, than watch your charts..!
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