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  • #64,941
  • Jan 14, 2013 3:12am Jan 14, 2013 3:12am
Quoting lumesh
Doubt it. Rumor of Cyprus downgrade and Italian ind production -1.0%. Next up 1.35
Oh it's too early for revenge. Just wait till we get a positive US PMI employment component.
Those who say it cannot be done should not interrupt those who are doing it
  • #64,942
  • Jan 14, 2013 3:24am Jan 14, 2013 3:24am
Quoting PipTrapper
Draghi might very soon regret that coz now when the bears come back, it'll be with a vengeance.

I very reluctantly joined the bull team last week but it was not by preference, but rather by necessity. I'm bullish until my previously indicated target of 1.3485 and then I would be really scared to remain bullish. As always, time will tell.
PT,u may be right but i cant see more than 200 to 300 pips correction from 1.35 and price going to rotate so many time to upside that one start to feel sick.also we are very near the end of the crisis[7yrs in 2014 from the time crisis start] and probably we may see one more dip to the downside but i wont see that happening this quarter or unless a big crisis in europe.before that mark my words ben will say something about dollar weaknesss.also look at the yen its just shooting down like there is no tommorrow,which suggest to me market is in risk on mode.
Allah has permitted trade and has forbidden interest [koran]
  • #64,943
  • Jan 14, 2013 3:27am Jan 14, 2013 3:27am
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Those who say it cannot be done should not interrupt those who are doing it
  • #64,944
  • Jan 14, 2013 3:31am Jan 14, 2013 3:31am
Quoting drzakir123
PT,u may be right but i cant see more than 200 to 300 pips correction from 1.35 and price going to rotate so many time to upside that one start to feel sick.also we are very near the end of the crisis[7yrs in 2014 from the time crisis start] and probably we may see one more dip to the downside but i wont see that happening this quarter or unless a big crisis in europe.before that mark my words ben will say something about dollar weaknesss.also look at the yen its just shooting down like there is no tommorrow,which suggest to me market is in risk...
Yes market is definitely in risk-on mode, but you know as well as I do that the problems in Europe are far from over.

There is still a very substantial solvency issue with many of the periphery nations and on top of that now due to austerity they have a growth crisis to add insult to injury. The strength in the Euro is currently due to the fact that the ECB did not cut rates.

I still maintain my USD bullish outlook, but obviously in the meantime, I am cautiously buying Euros against the USD, JPY and AUD. When the time comes to flip, I'll be there with my big hammer.
Those who say it cannot be done should not interrupt those who are doing it
  • #64,945
  • Jan 14, 2013 4:02am Jan 14, 2013 4:02am
Quoting PipTrapper
Oh it's too early for revenge. Just wait till we get a positive US PMI employment component.

euro area ind production also worse than expected...now 1.35 is a given.

PS. Can anybody shoot me in the head in the meantime
  • #64,946
  • Jan 14, 2013 4:10am Jan 14, 2013 4:10am
for me market logic is gone as long as the capitulation of EUR/CHF, EUR/JPY, EUR/AUD, EUR/GBP is the the main game in town.

Years of accumulation of those idiotic shorts appear to be 180 degree turned which is IMO the only reason that lifts the euro market. Even god doesn't know how far those crosses fly.
  • #64,947
  • Jan 14, 2013 4:22am Jan 14, 2013 4:22am
Quoting lumesh
for me market logic is gone as long as the capitulation of EUR/CHF, EUR/JPY, EUR/AUD, EUR/GBP is the the main game in town.

Years of accumulation of those idiotic shorts appear to be 180 degree turned which is IMO the only reason that lifts the euro market. Even god doesn't know how far those crosses fly.
I bet he/she does, but keeping it a secret

No matter. I'm scalping it long till it gives

E/U M5:
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Those who say it cannot be done should not interrupt those who are doing it
  • #64,948
  • Jan 14, 2013 5:00am Jan 14, 2013 5:00am
GM PT - yeeks, a 5m chart from you.....I have a similar one

I exited this morning's longs after that high volume, wide ranged marubozo up to R1 had no follow through. Whilst the 240 EMA stays green I'm looking to buy again
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Trading Levels with WRBs
  • #64,949
  • Jan 14, 2013 5:22am Jan 14, 2013 5:22am
Quoting Islander
GM PT - yeeks, a 5m chart from you.....I have a similar one

I exited this morning's longs after that high volume, wide ranged marubozo up to R1 had no follow through. Whilst the 240 EMA stays green I'm looking to buy again
Well done Islander. I took profit on 4 of my buy positions and I've just reloaded at today's value area low (which I do believe coincides with your 240 ema)
Those who say it cannot be done should not interrupt those who are doing it
  • #64,950
  • Edited 5:53am Jan 14, 2013 5:43am | Edited 5:53am
Quoting PipTrapper
Well done Islander. I took profit on 4 of my buy positions and I've just reloaded at today's value area low (which I do believe coincides with your 240 ema)
Thanks and I'm with you again, the hourly 20 EMA is always useful and this time combined with today's VA making a higher low. Let's hope the US traders are looking at those levels off the daily / weekly charts - 3384 & 3482.....TWT
Trading Levels with WRBs
  • #64,951
  • Jan 14, 2013 6:06am Jan 14, 2013 6:06am
i'm going to venture a guess here that london is just going to hold this pair in place until ny comes onlline to start hitting that buy button.

i really have a hard time imagining ny selling this pair...
  • #64,952
  • Jan 14, 2013 6:32am Jan 14, 2013 6:32am
Al_pari Quick market review.
You can skip to EURUSD immediately, which starts on 2:50 min
the guy suggesting strong resistance on eurodollar, which I agree with at this moment.

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  • #64,953
  • Jan 14, 2013 7:52am Jan 14, 2013 7:52am
I am vouching for 1.3400 R, and placing sale on weak PA.
  • #64,954
  • Jan 14, 2013 8:02am Jan 14, 2013 8:02am
Quoting rekon67
I am vouching for 1.3400 R, and placing sale on weak PA.
This thing seems going to create a narrow tunnel, anyways had a quick profit and done for the day.
  • #64,955
  • Jan 14, 2013 11:18am Jan 14, 2013 11:18am
Well euro filled the gap on IBFX's platform to the pip. And yes, I've had/read the forex gap argument a dozen times so I'd appreciate skipping that exercise.

Friday's close was 1.33356 and today's low on a 4hr spike was 1.33353.

Food for thought.
"Timing Is Everything. Really I Swear It Is"
  • #64,956
  • Jan 14, 2013 11:33am Jan 14, 2013 11:33am
Quoting TexasforEX
Well euro filled the gap on IBFX's platform to the pip. And yes, I've had/read the forex gap argument a dozen times so I'd appreciate skipping that exercise.

Friday's close was 1.33356 and today's low on a 4hr spike was 1.33353.

Food for thought.


Gaps USUALLY have the tendency to close, yes, nothing peculiar about that.


Just as there are cases where they have left open, see U/J for reference, or EURGBP...


No food here...
  • #64,957
  • Jan 14, 2013 11:44am Jan 14, 2013 11:44am
Quoting lumesh
Gaps USUALLY have the tendency to close, yes, nothing peculiar about that.


Just as there are cases where they have left open, see U/J for reference, or EURGBP...


No food here...
Damn. I'm hungry.
Those who say it cannot be done should not interrupt those who are doing it
  • #64,958
  • Jan 14, 2013 11:50am Jan 14, 2013 11:50am
Quoting TexasforEX
Well euro filled the gap on IBFX's platform to the pip. And yes, I've had/read the forex gap argument a dozen times so I'd appreciate skipping that exercise.

Friday's close was 1.33356 and today's low on a 4hr spike was 1.33353.

Food for thought.
On FXCM Friday's FX close (@ 22:00GMT) was 1.33427 and today's spike low was 1.33350
However, the NY equity market close (@ 21:00GMT) on Friday was 1.33352. If you go by NY close, we overlapped by 0.2 pips. Either way, gap is filled
Those who say it cannot be done should not interrupt those who are doing it
  • #64,959
  • Jan 14, 2013 11:50am Jan 14, 2013 11:50am
Quoting PipTrapper
Damn. I'm hungry.

well, eat the euro then. It has inflated into a nice donut-shaped mouthful piece of....of....of....something by now
  • #64,960
  • Jan 14, 2013 11:54am Jan 14, 2013 11:54am
Quoting PipTrapper
Draghi might very soon regret that coz now when the bears come back, it'll be with a vengeance.

I very reluctantly joined the bull team last week but it was not by preference, but rather by necessity. I'm bullish until my previously indicated target of 1.3485 and then I would be really scared to remain bullish. As always, time will tell.
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