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  • #55,501
  • Sep 20, 2012 5:37am Sep 20, 2012 5:37am
Just from pa on 15 minute 2 day there is the range traders doing their selling for past hour + on the USDX.

200 sma on the 15 minute has been pretty good past few days as price decision areas.
puts the Euro/USD at 1.3030 as possible resistance
AUD/USD at 1.0440-1.0450 zone as resistance

Range traders have been selling USDX for past 1 + hours
will wait for 9 am est NY open and see what happens. If the range traders get overwhemed then the USDX is at 80.00 today on the range traders stops getting run. If Range holds then USDX back to 79.20 or a bit lower by NY close
  • #55,502
  • Sep 20, 2012 5:43am Sep 20, 2012 5:43am
Quoting PipTrapper
DXY Daily
Attachment
why oh why oh why....

can MT4 not give us USDx
TRADE FOR SWAP
  • #55,503
  • Sep 20, 2012 5:43am Sep 20, 2012 5:43am
Daily Forex Brief

London: Thursday 20th September 2012

Getting interesting

The euro tested the water below the 1.30 level yesterday and also at the start of the European session this morning. EUR/AUD, our favoured cross over recent weeks, fell back to 1.2450 at one stage; on Monday, it reached a 3mth high of 1.2580. Suddenly, some of the old worries about the eurozone seemed to re-surface. For instance, Germany remains attracted to the idea that the ECB should only supervise and be responsible for Europe's largest systemically important banks, whereas Brussels prefers giving the ECB the task for monitoring all of Europe's banks irrespective of size. The selling was reasonably broadly-based. In contrast, the dollar's fortunes improved for a time (see below), although it did lose out to the Japanese yen. Another development being watched closely is the oil price – Brent crude has fallen by almost USD 10 since the Fed announced a week ago that it was cranking up the printing presses again.
http://webr.emv2.com/fxpro/fxpro-newDB.gifhttp://webr.emv2.com/fxpro/daily-briefDB.gifhttp://webr.emv2.com/fxpro/marketnewsDB.gifhttp://www.fxpro.com/sites/default/f...rf%2024h_0.png
  • #55,504
  • Sep 20, 2012 5:46am Sep 20, 2012 5:46am
Quoting cgldsmth
why oh why oh why....

can MT4 not give us USDx
It can. I use MT4 of "FOREX Ltd" demo acc. just for USDX.
  • #55,505
  • Sep 20, 2012 5:52am Sep 20, 2012 5:52am
Quoting CommercialB
In case of any misunderstandings I forgot I also should have added a to my comment re your previous post too ... so here it is ..
LOL Thanks
Those who say it cannot be done should not interrupt those who are doing it
  • #55,506
  • Sep 20, 2012 5:54am Sep 20, 2012 5:54am
Quoting cgldsmth
why oh why oh why....

can MT4 not give us USDx
Here is a USDX indicator. Just load it on any currency pair (E/U is best) and it opens an indicator window with the USDX chart

See here >>> http://www.forexfactory.com/showthre...61#post5973661
Those who say it cannot be done should not interrupt those who are doing it
  • #55,507
  • Sep 20, 2012 5:58am Sep 20, 2012 5:58am
thanks PT, very nice.

that one must have slipped me by somehow.
TRADE FOR SWAP
  • #55,508
  • Sep 20, 2012 6:01am Sep 20, 2012 6:01am
Quoting cgldsmth
thanks PT, very nice.

that one must have slipped me by somehow.
Cheers
Those who say it cannot be done should not interrupt those who are doing it
  • #55,509
  • Sep 20, 2012 6:08am Sep 20, 2012 6:08am
I don't think good Unemployment Claim data will change the risk sentiment today. What's your take on this, PT?
  • #55,510
  • Sep 20, 2012 6:10am Sep 20, 2012 6:10am
Congratulations PipTrapper,

A very good and informative thread, you build here.
If you let me participate with my humble opinion, i will post some charts.

Thank you
  • #55,511
  • Sep 20, 2012 6:14am Sep 20, 2012 6:14am
really whonder these 10-15 pips spikes up and down is someone talking atm?
  • #55,512
  • Sep 20, 2012 6:17am Sep 20, 2012 6:17am
Quoting Ken A
I don't think good Unemployment Claim data will change the risk sentiment today. What's your take on this, PT?
The bears are exhausted and the average daily range has been reached. Any lower today will be a grind as I suspect there is much demand before and at 2900 that it will have to chew through.

So, good news may prop it up a bit for a decent retrace into supply and trend line resistance, but bad news as I said will be a grind lower.

As such, If you're short, this would be a good place to take partial profits.

Of course I could be wrong.
Those who say it cannot be done should not interrupt those who are doing it
  • #55,513
  • Sep 20, 2012 6:18am Sep 20, 2012 6:18am
Quoting letscry
really whonder these 10-15 pips spikes up and down is someone talking atm?
No it's the M15 algos in NY kicking in
Those who say it cannot be done should not interrupt those who are doing it
  • #55,514
  • Sep 20, 2012 6:20am Sep 20, 2012 6:20am
Quoting PipTrapper
Okay I'll give you this much. Capital may flow to Germany, Sweden and Canada. However, it will be to the global economy's detriment and CBs everywhere will intervene.

ADD: Remember that the US is enjoying growth (albeit less than 2%) and Europe is in severe contraction (-2% annualized GDP). Where would you want your money? If the US takes a 1% hit on GDP due to the fiscal cliff, then they would still be in positive GDP, whereas Europe would suffer even more setbacks through deeper contraction.
good thoughts.eventually deflation has to occur. developed nations can't grow forever. i would rather see gdp contraction with deflation than usd trillions in intervention with no effect on gdp producers. mark faber had some superb commentary on this last week

http://www.bloomberg.com/video/faber...csYC7HDRA.html

3-4 years ago, gold hoarders were considered conspiracy theorists. as always, i appreciate your perspective! all I have to say is that nearly everyone is short euros. the pack is almost always wrong
Any prices quoted are futures
  • #55,515
  • Sep 20, 2012 6:22am Sep 20, 2012 6:22am
Quoting PipTrapper
The bears are exhausted and the average daily range has been reached. Any lower today will be a grind as I suspect there is much demand before and at 2900 that it will have to chew through.

So, good news may prop it up a bit for a decent retrace into supply and trend line resistance, but bad news as I said will be a grind lower.

As such, If you're short, this would be a good place to take partial profits.

Of course I could be wrong.
Yeah the shorts are at BE. Only -100 pips from opening is nothing for E/U
  • #55,516
  • Sep 20, 2012 6:26am Sep 20, 2012 6:26am
Quoting redteamgo
good thoughts.eventually deflation has to occur. developed nations can't grow forever. i would rather see gdp contraction with deflation than usd trillions in intervention with no effect on gdp producers. mark faber had some superb commentary on this last week

http://www.bloomberg.com/video/faber...csYC7HDRA.html

3-4 years ago, gold hoarders were considered conspiracy theorists. as always, i appreciate your perspective! all I have to say is that nearly everyone is short...
The net non-commercial Euro futures shorts are now at the same level as they were last year when the Euro was 1.42

What does that tell you?
Those who say it cannot be done should not interrupt those who are doing it
  • #55,517
  • Sep 20, 2012 6:27am Sep 20, 2012 6:27am
Marc Faber is known for is bullish Gold views and everyone is long gold ?!

Quoting redteamgo
good thoughts.eventually deflation has to occur. developed nations can't grow forever. i would rather see gdp contraction with deflation than usd trillions in intervention with no effect on gdp producers. mark faber had some superb commentary on this last week

http://www.bloomberg.com/video/faber...csYC7HDRA.html

3-4 years ago, gold hoarders were considered conspiracy theorists. as always, i appreciate your perspective! all I have to say is that nearly everyone is short...
Inflation in things we need, Deflation in things we want.
  • #55,518
  • Sep 20, 2012 6:29am Sep 20, 2012 6:29am
Quoting PipTrapper
The net non-commercial Euro futures shorts are now at the same level as they were last year when the Euro was 1.42

What does that tell you?
that i definitely don't want to be caught short at the wrong moment
Any prices quoted are futures
  • #55,519
  • Sep 20, 2012 6:36am Sep 20, 2012 6:36am
Quoting redteamgo
that i definitely don't want to be caught short at the wrong moment
Ehem. From that time forward, the Euro plummeted all the way down to 1.26... a 1600 pip drop, then after a 50% retrace to 1.3485, plummeted further to 1.2041
That's a total of almost 2200 pips.
So if the net shorts were to again increase to July's levels, that would theoretically place us at 1.08xx
Those who say it cannot be done should not interrupt those who are doing it
  • #55,520
  • Sep 20, 2012 6:49am Sep 20, 2012 6:49am
Quoting PipTrapper
Ehem. From that time forward, the Euro plummeted all the way down to 1.26... a 1600 pip drop, then after a 50% retrace to 1.3485, plummeted further to 1.2041
That's a total of almost 2200 pips.
So if the net shorts were to again increase to July's levels, that would theoretically place us at 1.08xx
i remember!

recall also that past indicators are no guarantee of future movement. like i said, i am bearish long term but i am fully hedged and will stay that way through governmental and fiscal y/e. i'm looking past the next 1h,4h,1d bar. that monthly bear channel isnt looking so bearish at this very moment and there are major events in the near future can change the way you are looking at historical indicators.
Any prices quoted are futures
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