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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #46,081
  • Aug 5, 2012 5:25pm Aug 5, 2012 5:25pm
Quoting Cgb
I'm sure people noticed, your words are always read carefully (at least by me they are).

Also of note, the 55EMA on the daily has proven to be strong resistance for the last 4 times price has tried to move above. It sits at 1.2413 right now.
Don't you just love that 55ema? The most awesome of the MAs in my opinion.
Those who say it cannot be done should not interrupt those who are doing it
  • #46,082
  • Aug 5, 2012 5:33pm Aug 5, 2012 5:33pm
Quoting PipTrapper
Don't you just love that 55ema? The most awesome of the MAs in my opinion.
Agreed 200 %
  • #46,083
  • Aug 5, 2012 5:37pm Aug 5, 2012 5:37pm
Quoting AlwaysLost
Still blur . I had completed one of my 'shadow' Inverse Head and Shoulders on D1 but try to find good reasons how Euro going to climb there with the current fundamentals scenario unless USD injected additional stimulus / implement QE 3 or ECB with aggressive interventions program.




ADD : I got Assumption B. Will post later.
.....Continuation . My Assumption B. (IMHO)
Attached Image (click to enlarge)
Click to Enlarge Name: AC1 EU D1 20120805 DOWN B.jpg Size: 115 KB
  • #46,084
  • Aug 5, 2012 5:41pm Aug 5, 2012 5:41pm
Quoting AlwaysLost
Still blur . I had completed one of my 'shadow' Inverse Head and Shoulders on D1 but try to find good reasons how Euro going to climb there with the current fundamentals scenario unless USD injected additional stimulus / implement QE 3 or ECB with aggressive interventions program.




ADD : I got Assumption B. Will post later.
Nice chart AlwaysLost. Don't know how you were able to put in the projection, but well done.
I observe your reality but live my own.
  • #46,085
  • Aug 5, 2012 5:41pm Aug 5, 2012 5:41pm
Monti of Italy Warns That Currency Crisis Risks Europe’s Future!

http://www.bloomberg.com/news/2012-0...-s-future.html
  • #46,086
  • Aug 5, 2012 5:43pm Aug 5, 2012 5:43pm
G'Night guys!
  • #46,087
  • Aug 5, 2012 5:46pm Aug 5, 2012 5:46pm
Quoting Cgb
Nice chart AlwaysLost. Don't know how you were able to put in the projection, but well done.
Thank you.
  • #46,088
  • Aug 5, 2012 5:50pm Aug 5, 2012 5:50pm
Quoting FXSwissTrader
G'Night guys!
G'Night Swiss!

Time for dinner here. Back a bit later...
I observe your reality but live my own.
  • #46,089
  • Aug 5, 2012 5:56pm Aug 5, 2012 5:56pm
Quoting FXSwissTrader
G'Night guys!
I'll be heading there soon also. Just want to wait till Hong Kong open to see how they feel about the hopium (Oops another kitten dead) BS
Those who say it cannot be done should not interrupt those who are doing it
  • #46,090
  • Aug 5, 2012 6:02pm Aug 5, 2012 6:02pm
Have to go now. G'Night See u London open.
  • #46,091
  • Aug 5, 2012 6:07pm Aug 5, 2012 6:07pm
hey guys just wanted to drop in and share a bit:



I just heard presidential candidate Mitt Romney say that a fresh round of monetary stimulus from the Federal Reserve would not help the fragile U.S. economy. he has long been a proponent of a strong US dollar and after the elections should Romney get elected the Fed will face much political pressure to maintain a strong USD policy.
The rising unemployment is hurting the incumbent badly and Romney will go all out to attack that very crucial aspect of the his opponents policies since for years Romney has been claiming in his first year his policies will create 12 Million jobs. the mans history and business acumen speaks for itself.




The ECB will reduce the uncertainty that can result about who gets paid back first if a government entity starts buying bonds of troubled countries, and it will support short-term government debt if certain conditions are met.
10-to-15% annual slide of the Euro against the greenback is possible. This will bring them to parity in 1 to 2 years.

Current Market Conditions Analysis
EUR/USD – Currently 1.2389 Major channel number below is the 1.2219/ Major channel TOP is the 1.2460/1.2502
Last 5 Sessions 1.2132 To 1.2404 = 272 Pips



the EUR/USD goes to High of 1.2404 and 1.2392 last 2 sessions and reversed — the Friday HOD was 1.2389, so we have a TRIPLE TOP between 2389, 2392, and 2402.


My Plan should we break the 1.2402 is to allow the pair to spike towards the 1.2410-1.2419 key area and IF it reverses quickly and with momentum i will take a SHORT at 1.2399 with a close eye on the DOW making a move towards 13,000 AND the DIXY bouncing off its support. Ill be looking to the 1.2334 level for the next support



IF WE STAY UNDER 1.2400: SELL STOP PENDING AT 1.2359 Monitoring momentum and the News for a push down below the 1.2334 level


I am also practicing on many other pairs since right now I am committed to locating and correcting the issues that led to my drawdowns last week.


I will hopefully have a profitable 30 days of Demo trading and be able to resume live in Early September.





Good Luck everyone


Wulf
  • #46,092
  • Aug 5, 2012 6:30pm Aug 5, 2012 6:30pm
http://a2.sphotos.ak.fbcdn.net/hphot...41342281_n.jpg
Funny picture: How many like it ?
  • #46,093
  • Aug 5, 2012 6:44pm Aug 5, 2012 6:44pm
It keeps going up
  • #46,094
  • Aug 5, 2012 6:49pm Aug 5, 2012 6:49pm
Quoting PipTrapper
I'll be heading there soon also. Just want to wait till Hong Kong open to see how they feel about the hopium (Oops another kitten dead) BS
Well I guess I got my answer. 1.2440 is now the key level. Let's see if it holds. There should be plenty of sellers there but a good hopium run would only be temporarily slowed before this sucker heads up to 1.2480/1.2505 area.

Anyway. No sense staying up all night. I'm heading for a snooze.

Good night all.

ADD: I just realized I killed another kitten with that hopium word. Oops I said it again. That's two kittens now. Oh well... too late now
Those who say it cannot be done should not interrupt those who are doing it
  • #46,095
  • Aug 5, 2012 6:50pm Aug 5, 2012 6:50pm
Quoting Ken A
It keeps going up
UK ECON: Lloyds Employment Confidence edges higher to -51 in July from -53 in June
Sunday, August 05, 2012 ⌚19:03 PM

UK ECON: Lloyds Employment Confidence edges higher to -51 in July from -53 in June
  • #46,096
  • Aug 5, 2012 6:50pm Aug 5, 2012 6:50pm
Update

Pending shorts cancelled
  • #46,097
  • Aug 5, 2012 6:52pm Aug 5, 2012 6:52pm
There is just not enough volume and retail trade tends to push it up. Watch USD/JPY and EUR/JPY and price of Oil and Gold.

http://finviz.com/forex.ashx

http://finviz.com/fx_image.ashx?rela...97931053062500

http://www.bloomberg.com/news/2012-0...mployment.html

Snippet:

Japanese and Australian stock futures rose after better-than-forecast jobs data in the U.S. eased investor concern that growth is slowing in the world’s largest economy.

American Depositary Receipts of Komatsu Ltd. (6301), a Japanese machinery maker that gets a quarter of its sales in the Americas, advanced 1.6 percent. BHP Billiton Ltd. (BHP), the world’s largest miner, may be active after metal prices advanced. ADRs of Toyota Motor Corp. climbed 3.8 percent after Asia’s biggest carmaker reported first-quarter profit that beat analysts’estimates. All Nippon Airways Co. (9202), Asia’s No. 1 listed carrier by sales, may move after reporting profit increased.

Futures on Japan’s Nikkei 225 Stock Average expiring in September closed at 8,675 in Chicago Aug. 3, up from 8,540 in Osaka, Japan. They were bid in the pre-market at 8,680 in Osaka, at 8:05 a.m. local time. Futures on Australia’s S&P/ASX 200 Index advanced 1.4 percent today. New Zealand’s NZX 50 Index rose 0.2 percent in Wellington.

“The outlook that is priced into equities is overly pessimistic,” said Michael Kurtz, Hong Kong-based global chief equity strategist at Nomura Holdings Inc., Japan’s largest brokerage. “We maintain a bullish view on global equities.”
  • #46,098
  • Aug 5, 2012 6:56pm Aug 5, 2012 6:56pm
Quoting PipTrapper
I'll be heading there soon also. Just want to wait till Hong Kong open to see how they feel about the hopium (Oops another kitten dead) BS
Well isn't that why the British had Hong Kong has always been a place that like a bite of hopium.
  • #46,099
  • Aug 5, 2012 7:09pm Aug 5, 2012 7:09pm
http://www.bloomberg.com/news/2012-0...eculation.html

Snippet:

The yen remained lower against all of its major peers following a decline at the end of last week on prospects Asian stocks will extend a global rally, sapping demand for the Japanese currency as a haven.

The yen maintained a drop versus the euro before the Bank of Japan (8301) holds a two-day policy meeting starting Aug. 8 amid speculation it will ease policy to weaken the currency. The Dollar Index (DXY) was 0.2 percent from a one-month low before Federal Chairman Ben S. Bernanke speaks on “economic measurement”today.

“The long-term trend is for yen weakness,” said Thomas Averill, managing director in Sydney at Rochford Capital, a currency and interest-rate risk-management company. “The market is expecting a little bit more from the Bank of Japan. The Bank of Japan is always going to do what it can to limit the appreciation of the yen.”
  • #46,100
  • Aug 5, 2012 8:43pm Aug 5, 2012 8:43pm
Quoting PipTrapper
Well I guess I got my answer. 1.2440 is now the key level. Let's see if it holds. There should be plenty of sellers there but a good hopium run would only be temporarily slowed before this sucker heads up to 1.2480/1.2505 area.

Anyway. No sense staying up all night. I'm heading for a snooze.

Good night all.

ADD: I just realized I killed another kitten with that hopium word. Oops I said it again. That's two kittens now. Oh well... too late now
Enough with the kitten killings! I'm a cat lover! Mine is waiting for you...
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I observe your reality but live my own.
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