EURUSD

Don't fight the trend, the trend is your friend. MA identify's the trend and if there is going to be a correction downwards the trend and MA will ALWAYS confirm it. We could try and guess the turning point for the correction but then we can be wrong more than often. Rather buy into the trend AFTER MA and trend is confirmed, yess you lose out on the first few pips but you won't have the same risk as those who try to predict the trend rather than follow the bred crumms.

Absolutely right. 100% Agreed.
Couldn't work out what Navk referred to with his MA... I plotted standard 100 MA on my charts and didn't see 37 any TF.

morning peeps

sell eur usd

Entered ej short. Believe this is just a mini retracement

Long 1.3106 TP: 1.3150 reason: the bull still need to push to 3150 for retracement
I wonder if it will hit TP by end of London trading.
What do you think guys?

Good morning, or whatever you have,

nice article Cornelis, seems like an easy explanation of what is going on. Partially ofc, since you have those things like production, unemployment, commodities, equities and stuff. But easy, thats what I like .

Would love to get to those numbers. Just to expand, author claims "Our estimate is that there is likely an interest to buy 500-750 billion Euros against USD" I mean, would love to know how did they found out such an estimate.

You see, the explanation is easy and can be valid, but doesnt have to, it aint that simple. There are several points here needed to be taken in account. First is, that there are really huge reserves of USD around the world. Mostly in China and rest of Asia. You see, US is major importer of China goods and for it pays with USD. So China keeps on buying quite a lot. Part of these asian reserves are coming back to M2 monetary base, since they are repositioning their portfolios and buying usually Treasuries. If asian economies decided all to suddenly dump USD, we would have hyperinflation and US would be fcked. Than the number would be far higher than some 500 Bn. Yet, although there is this option here, FED ist shy and is printing. And that is because their biggest advantage is, that USD is reserve currency, so people need it to buy oil. Second reason is, US is still the strongest economy in the world. World full of mess. Although we may dislike it as economists, and although it damages US in long term, QE actually is helping economy in short term. Yea, long term is bad, but right now, it is free cash. So in fact, what we can see in short term, is strongest economy in the world, getting ahead of everyone else, while their major opponents all struggle (You can say China aint struggling and I will tell you why it will very soon). Last, but not least, and this is actually kinda funny, is that China PBOC is so full of USD, that even China cant actually let USD fall, cause they are heavy long. So we have strongest economy in the world, with reserve currency, backed up by China. Wouldnt you buy it?

It is neverending dynamic oscillation. Noone can ever win. Right now, I think US is simply printing too much, so USD will be weakening although there is this buying pressure here. They want it to be this way, because in effect, it makes Oil cheaper for em and more expensive for rest of the world. But that is another topic. So yea, there are reasons for USD to weaken, but also for USD to gain strength. So you can go with USD weakness, but watch the world. Everytime when Europe, China, or Japan struggle, we are going to have a correction. Or we can even have a bull in USD, if one of them fails.

Btw, next time, could you please provide link? Thx,

GL all today,

T

with 9v you should know better than to just say that

What is the V stand for ?

look up the vouching system here

http://www.forexfactory.com/userguide.php

Cornelis please, I know you have found it usefull and wanted to share. But Oanda blog is useless trash and you dont need to past whole page. Please, past only the parts you find interesting.

Overall, let me say one thing: "Do not trust brokers."

T

I got it.. Thank Max

Closed on +13pips. This looks nothing but just a mini retracement.

Patience. but hey, everybody has reasons.

Yes.. I am very patient waiting retrace AJ EJ still on short haha

Watch 3089 on the road.

Mhm, I was expecting this week to be ranging and, nothing. This bullish trend is too steep for my taste. I´ve expected correction on Wednesday or Thursday, and nothing. Wtf are those bears? Wake up noobs, I need to reload.

So, 38% fibo got retested, so far so good, nice move. I really, really miss that correction though. If we wont correct, err, like now , we can see week close at 3125, possibly up to ,32. I hope bears will wake up though, take us to finally retest that ,303 and we close week at ,309. Would be perfect for me.

T

I am currently trading this retrace scenario on the hourly EU

Look likes 1.308 is a very good entry for long

Morning all. Sipping tea (sorry Max), reviewing charts and waiting for London. Wife at work. Kids off to school. Peace and calm lol.

Id say you made a good spot, but you know that that's why your trading it