Wooooohooooo or Boooooohooooo
- #60,302
- Nov 7, 2012 6:26pm Nov 7, 2012 6:26pm
- | Commercial User | Joined May 2012 | 3,285 Posts
viewingis midway on left side of screen
Thanks!
- #60,303
- Nov 7, 2012 6:26pm Nov 7, 2012 6:26pm
- | Joined Dec 2011 | Status: Trader | 1,581 Posts
Yea I'm not entirely sure why all markets are in "sell off" mode but I'm definitely not going to fight the trend. Probably worried about Obama being back in office, I don't blame them...
EUR, GBP, and even AUD are looking good, need to wait for a close below the daily TL's though for the above pairs. Also keeping an eye on US equities, S&P is at the Weekly TL right now, if broken and closed below on Friday market will free fall.
Any prices quoted are futures
- #60,305
- Nov 7, 2012 6:30pm Nov 7, 2012 6:30pm
- Joined Mar 2012 | Status: Gold anyone | 6,524 Posts
Ahhhh....
maybe this new version wont hang when news comes out....let's see in one minute with aud
Wooooohooooo or Boooooohooooo
While everyone is focusing on EURUSD; what about EURJPY? Seems to be a good entry point. Bounced off fib 61.8 & is around downtrend support + ECB speech tomorrow morning probably pumping the EUR; I see good R/R here
- #60,310
- Nov 8, 2012 12:56am Nov 8, 2012 12:56am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
- #60,312
- Nov 8, 2012 1:24am Nov 8, 2012 1:24am
- Joined Aug 2010 | Status: A M S | 1,019 Posts
finding A M S
- #60,314
- Nov 8, 2012 1:55am Nov 8, 2012 1:55am
- Joined Jun 2012 | Status: ケンジ | 21,416 Posts
A chart to look at some imp - points darked in pink - first - 2825 the TL holded the pair with some strong bullish upside move it reached 3130..
next - 3022 was strong and this also proved to be inverse touch of that TL and price action stalled at 3020 and started sliding down .
next - crucial 2800 .. was broken and the price action closed the trading range . hence a more supply needed to move down so this
was full filled when the price action touched 1.2880 yesterday which happens to be 23.6 fib also - is good for retracements . hence a new low was printed below 1.275..
next - now price action is near to some crucial support of 1.27.. and here comes 38.2 fib around 1.27.. to 1.274.. depends on lot of candle closes or even highs and lows of pair . this pair can start moving upwards in near future after touching 1.27.. or even 1.266.. if needed .
The conclusion is, if it's not going UP, it's going DOWN
I see more down move due to the Dollar (fiscal cliff) and Yen (safe haven) bullish and more negative news from EZ.
CAD will depend on Crude price and CAD Trade Balance data in the morning.
- #60,315
- Nov 8, 2012 2:01am Nov 8, 2012 2:01am
The conclusion is, if it's not going UP, it's going DOWN
I see more down move due to the Dollar (fiscal cliff) and Yen (safe haven) bullish and more negative news from EZ.
CAD will depend on Crude price and CAD Trade Balance data in the morning.
- #60,316
- Nov 8, 2012 2:04am Nov 8, 2012 2:04am
The conclusion is, if it's not going UP, it's going DOWN
I see more down move due to the Dollar (fiscal cliff) and Yen (safe haven) bullish and more negative news from EZ.
CAD will depend on Crude price and CAD Trade Balance data in the morning.
First V!!! WOW
Thanks Man
- #60,318
- Nov 8, 2012 2:11am Nov 8, 2012 2:11am
- Joined Aug 2010 | Status: A M S | 1,019 Posts
The conclusion is, if it's not going UP, it's going DOWN
I see more down move due to the Dollar (fiscal cliff) and Yen (safe haven) bullish and more negative news from EZ.
CAD will depend on Crude price and CAD Trade Balance data in the morning.
That depends on price action - lets see whats in store for this pair at around 38.2 fib . this pair probably has to reach 1.34.. in near future and then it may decide of the future directions . there is some unfinished business around 1.26.. to 1.27.. so i am just looking at those region for positive pullback - any ways super mario is there to push it upwards whenever this pair goes down rapidly or it starts rapidly - right lol
finding A M S
- #60,320
- Nov 8, 2012 2:25am Nov 8, 2012 2:25am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Good morning fellow traders...
Amidst all the rioting in Athens last night, the Greek coalition party managed to secure a vote in favor of the austerity package imposed by the Troika in order for Greece to be eligible for its next aid tranche which they desperately need before they run out of funds later this month. The next hurdle now will be the budget vote on Monday 12th November. At this point it's pretty much a given that Greece will get their money... barring any unforeseen change of heart by a few of the coalition members.
Today we have a full calendar starting with a 3, 5 & 10 year auction of Spanish debt looking to raise between 3.5 and 4.5 billion euros. The results are due at 9:30am GMT. However, that's not the main event today, but rather my focus will be mainly on the ECB rate statement and the press conference that follows. I do believe that after Draghi's dovish comments yesterday that the market is probably expecting a rate cut today. Whilst I do expect a rate cut eventually, I don't think we'll get it today because I do believe that the ECB governing council is more concerned about fixing the breakdown in monetary policy transmission first. Of course I could be wrong, but for me it makes no sense to cut rates for the benefit of those countries who cannot benefit from it with a broken monetary policy transmission channel. Anyway, today I will be more interested in what Draghi has to say in his press conference. If we do actually get a rate cut, then I will be pleasantly surprised, as will any other Euro bear. Of course we cannot forget that today we also get an MPC rate statement. Although the effects of the MPC statement will mostly be seen in the GBP pairs, there could be some spillover into the EUR/USD pair however negligible. Another item on the calendar today is the weekly US Jobless claims number. Certainly not a number to ignore, but it will hardly be the main driver today unless the ECB is a total dud and the jobless claims number is way out in left field.
Technically, the EUR/USD has well cleared the major support hurdle at 1.2802 with two consecutive daily closes below. Whilst we still have significant support to chew through below current levels, my sights are still set on the primary target of 1.2658 for the measured move off the head and shoulders formation I have been mentioning since Friday. A daily close above 1.2802 delays my bearish outlook, however, any rallies above 1.28 from here forward should be very well capped and I will be selling into them aggressively.
So, as always, be well, trade safe and best of luck today.
E/U H4:
E/U Weekly:
Amidst all the rioting in Athens last night, the Greek coalition party managed to secure a vote in favor of the austerity package imposed by the Troika in order for Greece to be eligible for its next aid tranche which they desperately need before they run out of funds later this month. The next hurdle now will be the budget vote on Monday 12th November. At this point it's pretty much a given that Greece will get their money... barring any unforeseen change of heart by a few of the coalition members.
Today we have a full calendar starting with a 3, 5 & 10 year auction of Spanish debt looking to raise between 3.5 and 4.5 billion euros. The results are due at 9:30am GMT. However, that's not the main event today, but rather my focus will be mainly on the ECB rate statement and the press conference that follows. I do believe that after Draghi's dovish comments yesterday that the market is probably expecting a rate cut today. Whilst I do expect a rate cut eventually, I don't think we'll get it today because I do believe that the ECB governing council is more concerned about fixing the breakdown in monetary policy transmission first. Of course I could be wrong, but for me it makes no sense to cut rates for the benefit of those countries who cannot benefit from it with a broken monetary policy transmission channel. Anyway, today I will be more interested in what Draghi has to say in his press conference. If we do actually get a rate cut, then I will be pleasantly surprised, as will any other Euro bear. Of course we cannot forget that today we also get an MPC rate statement. Although the effects of the MPC statement will mostly be seen in the GBP pairs, there could be some spillover into the EUR/USD pair however negligible. Another item on the calendar today is the weekly US Jobless claims number. Certainly not a number to ignore, but it will hardly be the main driver today unless the ECB is a total dud and the jobless claims number is way out in left field.
Technically, the EUR/USD has well cleared the major support hurdle at 1.2802 with two consecutive daily closes below. Whilst we still have significant support to chew through below current levels, my sights are still set on the primary target of 1.2658 for the measured move off the head and shoulders formation I have been mentioning since Friday. A daily close above 1.2802 delays my bearish outlook, however, any rallies above 1.28 from here forward should be very well capped and I will be selling into them aggressively.
So, as always, be well, trade safe and best of luck today.
E/U H4:
E/U Weekly:
Those who say it cannot be done should not interrupt those who are doing it