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  • #722,721
  • Nov 26, 2012 10:26pm Nov 26, 2012 10:26pm
Quoting paulonyx
3019 may no longer be a possibility, we may just be heading 2922 that is after 2940 is taking out
Agreed. I'm going to try to hop on if it moves within 10 pips of the high....if not I'll wait for another opportunity later on.
  • #722,722
  • Nov 26, 2012 10:28pm Nov 26, 2012 10:28pm
Quoting gatorinla
since the news is out now...looking hard if we there to s 3024/37ish area
bears need below 2969. -2960 even better.. maybe a drop at 88/3008. but if we make a hh now... i would be careful of 3048 doubtful.. but there if we make a hh
those who can, do. those who cant, talk about those who can
  • #722,723
  • Nov 26, 2012 10:44pm Nov 26, 2012 10:44pm
Quoting John Gray
Very true, can't just tell Asia they are never getting their money back.

Need to get businessmen in power, reduce unnecessary spending, manage transfers, increase efficiency through streamlined BP's, get one person to do 1 job rather then 3 people, all that sort of stuff.

Raising taxes alone won't work which is typically an answer..
we had one of those guys.. and we had a total economic meltdown. and we have yet to pay the check on that one for decades. we even let Goldman (hank p) control the checkbook.. and he stood next to the puppet as the puppet said. "this sucka is going down" or "wall street got drunk" yeah! the good old days.. i want one of those guys..the businessmen who knew what they were doing.
those who can, do. those who cant, talk about those who can
  • #722,724
  • Nov 26, 2012 10:48pm Nov 26, 2012 10:48pm
Quoting KiwiTrada
I thinking merkel die is already cast, she cant win either way, most of the money already used and still on offer is german, greece is rioting, because of what they have to do to recieve "help" bailout money "again", wait till riots when german people realises not only is most their moneylent to greece already been wiped, but they about to give some more with very little chance of getting it back also

Reality is, the relief funds is to alleviate debt aka spend within the euro, remembering the money it is replacing has alrady been spent.
The...
aussie bull getting power from what?
  • #722,725
  • Nov 26, 2012 10:52pm Nov 26, 2012 10:52pm
Quoting gatorinla
bears need below 2969. -2960 even better.. maybe a drop at 88/3008. but if we make a hh now... i would be careful of 3048 doubtful.. but there if we make a hh
watching time.. even if she breaks 69 the fat lady may come back here once more.. the bathroom is at 2988..
those who can, do. those who cant, talk about those who can
  • #722,726
  • Nov 26, 2012 10:54pm Nov 26, 2012 10:54pm
Quoting almo
Greetings everyone - going short , TP 1.26xx. There may be a bit of upside (+50 pips or so), but I believe the top is either already been hit , or we're really close.
I'm thinking the same way, add the fact that the emini is close to a major trend line and the scenario for a 300 to 500 pips down move is plausible.

Now that said I believe jumping in right now is still in the gamble side.
So, you think you have rights? LOL
  • #722,727
  • Nov 26, 2012 11:00pm Nov 26, 2012 11:00pm
Quoting gatorinla
watching time.. even if she breaks 69 the fat lady may come back here once more.. the bathroom is at 2988..
ya dustbin is at 1.3010
  • #722,728
  • Nov 26, 2012 11:01pm Nov 26, 2012 11:01pm
Quoting Nachiket
ya dustbin is at 1.3010
looking at H1 bulls seem to be exhausted and need a break
  • #722,729
  • Nov 26, 2012 11:05pm Nov 26, 2012 11:05pm
Quoting Nachiket
aussie bull getting power from what?
very simple ... there is again a little bit more of the positive info from China
  • #722,730
  • Nov 26, 2012 11:13pm Nov 26, 2012 11:13pm
BUY EJ today is better choice.
I hold Long EJ @1.06446
  • #722,731
  • Nov 26, 2012 11:18pm Nov 26, 2012 11:18pm
Quoting Nachiket
aussie bull getting power from what?
it has a little room.. after that 0.97xx is looking good...
those who can, do. those who cant, talk about those who can
  • #722,732
  • Nov 26, 2012 11:24pm Nov 26, 2012 11:24pm
The bull might spring up surprises in the London open, the fact is while every body is positioned for a drop in the euro the thing just disappoints.
  • #722,733
  • Nov 26, 2012 11:26pm Nov 26, 2012 11:26pm
Quoting paulonyx
The bull might spring up surprises in the London open, the fact is while every body is positioned for a drop in the euro the thing just disappoints.
Better to take a risk on it and lose a small amount than to not take the risk and miss out on a potentially large move. If you don't take a chance you can't make any money. If it does breach the trendline my previous position at roughly 1.2030 stands, but trying to get on board this possible top first.

Combination of valid trendline and the round number makes it a pretty good level that I neglected to take note of earlier.
  • #722,734
  • Nov 26, 2012 11:29pm Nov 26, 2012 11:29pm
Quoting paulonyx
The bull might spring up surprises in the London open, the fact is while every body is positioned for a drop in the euro the thing just disappoints.
Fuck, the bull coming back in London?? I thought I might start to recover
  • #722,735
  • Nov 26, 2012 11:29pm Nov 26, 2012 11:29pm
Quoting gatorinla
bears need below 2969. -2960 even better.. maybe a drop at 88/3008. but if we make a hh now... i would be careful of 3048 doubtful.. but there if we make a hh
I have 69 as a 1.272 extension and also a lower triangle trendline...

The lower ADR area at 2924 to 2927 is a 2.618 projection off the top...(2957 is the 1.618)
  • #722,736
  • Nov 26, 2012 11:35pm Nov 26, 2012 11:35pm
http://www.forexfactory.com/showthre...87#post6234187
Not all sins are created equal
  • #722,737
  • Nov 26, 2012 11:40pm Nov 26, 2012 11:40pm
Quoting Nachiket
aussie bull getting power from what?
I have no idea where from, wasl ittle positive chy, yen took a little hit but I am waiting brit open and/or she get below 70 then will try
If you are new to Forex? Say Goodbye to your account!!
  • #722,738
  • Nov 26, 2012 11:44pm Nov 26, 2012 11:44pm
Quoting KiwiTrada
hahaha pop corn, could be plop corn to bro hahaha 130 00 - 130 20 was always going be a big battle field bull has do nice rally yes <4hr but daily & weekly is saying bears still in control and driving this train

eu summit as always is full of promises and hot air, I think her capped for now, when dust is settle (only little dust too) bears will be back on track, min 500pips
Hi kiwi,
I think 133 on geppy could happen, if cable go above 1.6055, the next resistance level is some 100pips away..of cos,this is an all out bull scenario, cable could easily drag geppy along..the yen is losing steam,so we may have some upside. Keeping my eyes on the UJ,watching to see if it gets to its previous high..any thoughts on the UK gdp?
It is possible to make large sums trading, small losses, large wins
  • #722,739
  • Nov 26, 2012 11:45pm Nov 26, 2012 11:45pm
Quoting gatorinla
typo.. 2969

Yeah..2969 is what I have...

The other #'s are projections and ADR lows..
  • #722,740
  • Nov 26, 2012 11:50pm Nov 26, 2012 11:50pm
A new chapter in Greece's financial agony has come to an end after EU finance ministers finally reached a debt deal which will see the country, if the respective EU's national parliaments approve it, to be funded with an additional €44 bln through 3 different tranches, with each release subject to implementation of austerity programs.

The Euro reaction, however, was less than meet the eye, hardly achieving levels above 1.30 vs the US Dollar before a pause and consolidation around the 1.2880 area.

As hippocratic as this debt deal may sound to conceive that Greece can really be put back on a sustainable debt path, the truth is that markets will now have a big worry out of the way. As Westpac’s FX strategist Sean Callow notes, "the deal should put Greece largely on the backburner for a couple of months before it starts missing its fiscal targets again.”

Traders will now find themselves with a tricky decision to make, that is, doesthe EUR/USD rally have really further legs to go? or is the short-covering about to face an uncommitted market, ready to repel targets past 1.3050/1.3100? Mr. Callow opts for the latter as the immediate scenario.

The context in which both Euros and US Dollars trade is still largely dominated by two major unresolved issues, which will arguably keep the EUR/USD exchange rate trading erratically within familiar level into year end.

On one hand, the inactivated ECB Outright Monetary Transactions (OMT) program keeps the Euro limited to show major upward moves past the 1.3100/70, while the threat of it, ironically, also provides a major back stop to any EUR selling pressure.

Looks like I'm fucked. Margin call coming soon..

On the other hand, the US fiscal cliff still shows little progress for now, an event associated with US Dollar weakness in the short-term, although it is logical to think an eventual deal will be struck, and US Dollar will enjoy some serious buying interest.

One Euro skeptic analyst is Mitul Kotecha, founder at econometer, noting that "the lacklustre reaction of the EUR following the Greek deal this morning highlights that much of the good news were already priced in..."

On the contrary, Marc Chandler, Head of FX at Brown Brothers Harriman notes that the pair show a constructive bullish outlook, and if the bulls manage to make a decisive break through the 1.3000-30 region, the next objective will be set around 1.31, potential downtrend drawn off the mid-September and mid-October high.

For the immediate future, and ahead of the London session, "as long as the 1.2950 holds, bulls will keep control of the pair, with a break above 1.3000, past Friday’s high, pointing for an advance towards 1.3040" says in-house technical analyst Valeria Bednarik.
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