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EURUSD

  • #742,141
  • Jan 7, 2013 5:00am Jan 7, 2013 5:00am
Quoting sp33ncer
what do you think about this??
Please look at in the big picture. You will see inv. head&shoulders pattern targetting 1.4250 for long term.

GL
  • #742,142
  • Jan 7, 2013 5:04am Jan 7, 2013 5:04am
Quoting davidsayli
Please look at in the big picture. You will see inv. head&shoulders pattern targetting 1.4250 for long term.

GL
I agree with this.
The timeframe is on the Daily
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.PNG Size: 93 KB
A pip is only worth it if you know how much you risked to earn it
  • #742,143
  • Jan 7, 2013 5:06am Jan 7, 2013 5:06am
Quoting vlady1974
Mate good observation... not anxious, excited for the week - I guess they have the same physiological effect. :-)
Doing some training with a trader on Thu/Fri. Got some new material which I'm currently backtesting with promising results. It's probably "New Year" vibes still resonating with me.
Vibe is good, keeps you in shape... Trade safe bro, just saw that you ae in-out like a sex machine Always trade safe, there will be tomorrow, no need to frustrate yourself before mid Jan hits... We have a looonnnggg year ahead of us....
  • #742,144
  • Jan 7, 2013 5:15am Jan 7, 2013 5:15am
Quoting math_GB
Trade safe bro, just saw that you ae in-out like a sex machine
A pip is only worth it if you know how much you risked to earn it
  • #742,145
  • Edited 9:56am Jan 7, 2013 5:15am | Edited 9:56am
Some thoughts on the future direction of the EURUSD--

Mr. Draghi has made it very clear that one of his primary objectives for the beginning of the new year is to bring calm to the markets, specifically to the EZ. How does one bring calm to the markets? By doing nothing. Maintaining the status quo. There are those who seem to think that the ECB is poised to lower the minimum bid rate soon, if not this week. Why? What would that accomplish? Absolutely nothing other than to roil the markets. This goes against his objective. The ECB is NOT going to lower the minimum bid rate.

The ECB, like the US Fed has many other options to further its goals. Draghi has proven to be a master of the psychology game. He knows full well, that if the perception of calm is something that is needed, and obviously it is, than the best way to achieve this is by continuing on the present course it has laid out over the past several months.

“Don’t rock the boat” is the ECB’s modus operandi for the time being. Given that, and barring any new apocalyptic developments within the EZ, there is absolutely no reason for the EUR.USD to do anything but gain in value. Besides which, the Bundesbank would never go along with a rate decrease at this time. It is an absolute anathema to them and as long as they control Europe’s purse strings, that is the way it’s going to be. So where does that leave the dollar?

Seems a lot of folks got all excited after the recent FED minutes came out which seemed to indicate a bit of a debate with regard to exactly how long the FED would maintain its current monetary policy. Those who think that we will soon see a discontinuation of the FED’s present policies are sadly mistaken. Ain’t gonna happen. Those folks are reading way too much into the recent FED minutes. The FED has made its future course of action very clear. There is no way the US unemployment rate is going to drop below 6.5% this year. Just isn’t going to happen. Sure there was some dissent among the FOMC members, but when push comes to shove, Mr. Bernanke runs a very tight ship and he will get what he wants, don’t ever doubt that.

As well, it is very obvious, and has been very obvious for quite some time that the FED is doing everything it can to pursue a policy of dollar devaluation. Now, of course, this is not an official policy, but one would have to be completely naive not to believe that this is the case. And who’s going to fight the FED? No one. For now and the foreseeable future the US Fed is the most powerful central bank on the planet and as long as it has as one of its objectives a dollar devaluation policy, well, that’s the way it’s going to be. All you need to do is look at Brazil as an example. They tried to fight the FED and where has it gotten them?

So (and obviously this polemic can go on for bit, but I’ll stop here and spare everyone) my view for now is that we will see a continuing strengthening of the EURO vs the US Dollar.

I may change my mind if we see a decline below 1.2890 or so. For now, initial target is 1.3097, followed by 1.3137. Then 1.3230, 1.3300 followed by 1.3395.

All of this is negated if for some reason the ECB loses its mind and does drop rates, or if we see some kind of new “mis-adventure” in the EuroZone.



PS – I happen to disagree with the current policy the ECB is pursuing and don’t really hold out a whole lot of hope for its future, but I’m not going to let that sentiment get in the way of my trading…



http://i46.tinypic.com/9iwwf7.jpg
  • #742,146
  • Jan 7, 2013 5:19am Jan 7, 2013 5:19am
Quoting davidsayli
Please look at in the big picture. You will see inv. head&shoulders pattern targetting 1.4250 for long term.

GL
please correct me, if im wrong, but this is what i see
Attached Image (click to enlarge)
Click to Enlarge Name: 02-01.png Size: 47 KB
  • #742,147
  • Jan 7, 2013 5:22am Jan 7, 2013 5:22am
if we are going to the norm 2894, for 3588/94. a second hump to Fridays high area is norm. 3101.8 may contain it. 3095/98 ish is a place of interest. 2894 min is a place bears want to go. its also a place bulls go normally before 3588/94+. the current low is exactly 3/4 of the way from last months high to 2894. 3101.8 is half. wtf is ken
those who can, do. those who cant, talk about those who can
  • #742,148
  • Jan 7, 2013 5:31am Jan 7, 2013 5:31am
I have no idea what is happening right now. These are the exact situations where fxnav would have been good.
  • #742,149
  • Jan 7, 2013 5:36am Jan 7, 2013 5:36am
Quoting sp33ncer
please correct me, if im wrong, but this is what i see
http://i47.tinypic.com/xa7hf.gif
  • #742,150
  • Jan 7, 2013 5:37am Jan 7, 2013 5:37am
No real movement. Classic monday. Btw bought at 37 again...but this thing has no power.
  • #742,151
  • Jan 7, 2013 5:39am Jan 7, 2013 5:39am
Might as well throw this out there...is any1 watching 1.305? Or just me?
  • #742,152
  • Jan 7, 2013 5:42am Jan 7, 2013 5:42am
I've been waiting for the DAX to gap down on the daily... but seems to have very strong support right now.
May be related to the EU. So if it breaks south, should be a decent move.... I'll be stopped out. But if support holds, then I definitely see upward movement for both.
Attached Image (click to enlarge)
Click to Enlarge Name: DAX.PNG Size: 61 KB
A pip is only worth it if you know how much you risked to earn it
  • #742,153
  • Jan 7, 2013 5:42am Jan 7, 2013 5:42am
Quoting Alexone
Might as well throw this out there...is any1 watching 1.305? Or just me?
I am. 52 to be exact. Last swing high on the 5M
A pip is only worth it if you know how much you risked to earn it
  • #742,154
  • Jan 7, 2013 5:46am Jan 7, 2013 5:46am
Quoting vlady1974
I am. 52 to be exact. Last swing high on the 5M
51 is the daily piv I have here, LONG s will be safer above, actually it made a nice bottom @1.3015. I changed my SL to BE @1.3020, letting it run FTB...
  • #742,155
  • Jan 7, 2013 5:59am Jan 7, 2013 5:59am
Quoting Alexone
Might as well throw this out there...is any1 watching 1.305? Or just me?
Mine at 3060+/H1 IKH.
  • #742,156
  • Jan 7, 2013 6:00am Jan 7, 2013 6:00am
31 most goo
sl is on BE 43 ish otherwizze we still have 59ish to visit before considering the outcome. Need a heavy and violent drop now
  • #742,157
  • Jan 7, 2013 6:02am Jan 7, 2013 6:02am
Bought at 34, lets see...
  • #742,158
  • Jan 7, 2013 6:03am Jan 7, 2013 6:03am
Not entered a trade today, very slow Monday
  • #742,159
  • Jan 7, 2013 6:03am Jan 7, 2013 6:03am
Quoting math_GB
Nope, british and proud , mum turkish, dad german migrant, but born british... I love the Italian language & life style, food and everything except the way they play football
I asked because I see you use Italian words often.
I agree on football lol. Way too soft, but all the players in the world this side of vinnie jones.
  • #742,160
  • Jan 7, 2013 6:04am Jan 7, 2013 6:04am
no shorts for me.. looking for a higher entry.. today the current high + 10 looks doable. void with a ll today. atm @ 3032
those who can, do. those who cant, talk about those who can
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