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  • #837,001
  • Sep 20, 2013 12:24pm Sep 20, 2013 12:24pm
After we've seen dollar weakness from the previous FOMC no taper announcement, it looks like EUR/USD still has some bulls left before the next meeting in December.

Price looks to retrace a bit after strong momentum reaching overbought state, correction should be in the range between 1.3400 and 1.3330. Before going bullish again for the final target.

An AB=CD pattern starting from mid July and time-extended by x1.618 predicts price to hit a supply zone in the range between 1.3800 to 1.3900.

Retracement should end by mid October, while the rally should end around mid to end of November. Leaving some time before the Q4 announcement on 17 December which is almost certainly a tapering of QE.
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  • #837,002
  • Sep 20, 2013 12:27pm Sep 20, 2013 12:27pm
Quoting xRedStaRx
After we've seen dollar weakness from the previous FOMC no taper announcement, it looks like EUR/USD still has some bulls left before the next meeting in December. Price looks to retrace a bit after strong momentum reaching overbought state, correction should be in the range between 1.3400 and 1.3330. Before going bullish again for the final target. An AB=CD pattern starting from mid July and time-extended by x1.618 predicts price to hit a supply zone in the range between 1.3800 to 1.3900. Retracement should end by mid October, while the rally should...
anything's possible, of course.
  • #837,003
  • Sep 20, 2013 12:28pm Sep 20, 2013 12:28pm
Quoting ali-bhai
{quote} i think most people buy/sell ""electronic gold" with "electronic" money, not actual paper. electronic money took the position of paper money, in most areas around world "they" don't accept cash(paper), they ask for "electronic" 2% actual cash(paper) present in banks, 98% only number on screen, or statements etc. after bretton wood, gold termed as "precious metal" for the 1st time in 5000 yr financial history, i believe gold was a money and will still remains the only real money. one ounce of gold is as valuable as in the days...
hey what is the portion of gold used in industries (in electronics, jewelries, etc) and been stored as reserves?
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #837,004
  • Sep 20, 2013 12:35pm Sep 20, 2013 12:35pm
Quoting attila
should go higher I think..
i think so too. The Fed just had an excuse to pump it up. ECB needs to wait for an excuse to smash it down.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #837,005
  • Sep 20, 2013 12:38pm Sep 20, 2013 12:38pm
Ok, starting my weekend. Just a reminder: german elections this sunday, and the outcome far from certain. It is very probable that Merkel stays Chancellor, but unclear with which coalition partner. Latest polls suggest the possibility of an Euro-sceptic party to enter the Bundestag, which would really mix up things...
Fail better.
  • #837,006
  • Sep 20, 2013 12:38pm Sep 20, 2013 12:38pm
Quoting ffleo
{quote} i think so too. The Fed just had an excuse to pump it up. ECB needs to wait for an excuse to smash it down.
I'm not trading "the FED" atm. Damn thing is moving 1 pip/hour and retraces each and every move.
  • #837,007
  • Sep 20, 2013 12:40pm Sep 20, 2013 12:40pm
Quoting ffleo
{quote} hey what is the portion of gold used in industries (in electronics, jewelries, etc) and been stored as reserves?

good question

best answer by google
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  • #837,008
  • Sep 20, 2013 12:43pm Sep 20, 2013 12:43pm
Quoting attila
{quote} I'm not trading "the FED" atm. Damn thing is moving 1 pip/hour and retraces each and every move.
all other USD pairs retraced a lot, but EurUsd and UsdChf did not. Must be some strong hand holding it up.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #837,009
  • Sep 20, 2013 12:43pm Sep 20, 2013 12:43pm
Quoting ali-bhai
{quote} i think most people buy/sell ""electronic gold" with "electronic" money, not actual paper. electronic money took the position of paper money, in most areas around world "they" don't accept cash(paper), they ask for "electronic" 2% actual cash(paper) present in banks, 98% only number on screen, or statements etc. after bretton wood, gold termed as "precious metal" for the 1st time in 5000 yr financial history, i believe gold was a money and will still remains the only real money. one ounce of gold is as valuable as in the days...

a very short memory i agree.. all of us think we are smarter then a guy with a spear feeding and clothing his family a million years ago.. and yet little has changed. we think 5000 years is such a long time. in that time period sticks with notches were treated the same as gold, also some seashells. just 150+ years back, aluminum was more valuable then gold. just imagine the most abundant metal element on earth was more valuable then gold. when i say abundant, i mean we had then more then iron... shit happens, times change.. people throw away aluminum cans every day. one thing is certain is change.
those who can, do. those who cant, talk about those who can
  • #837,010
  • Sep 20, 2013 12:47pm Sep 20, 2013 12:47pm
3550 looks pretty. I don't know if it gets there, but that would be nice...
  • #837,011
  • Sep 20, 2013 12:48pm Sep 20, 2013 12:48pm
The value of the currency lies in its purchasing power. Its true GOLD is considered as true currency as once ounce retained purchasing power for several years.

Currency outperforms gold only in deflationary environments. I dont think we have seen a true deflationary environment in our life times, as central banks intervene and debase currency.

In recent years, market is used to stimulus, it has become the oxygen for economy to grow, as there is no real growth. Central banks are trying to create illusion of growth so that everybody spends and economy stands on its own.
  • #837,012
  • Sep 20, 2013 12:55pm Sep 20, 2013 12:55pm
Quoting attila
3550 looks pretty. I don't know if it gets there, but that would be nice...
maybe when nobody's looking..
  • #837,013
  • Sep 20, 2013 12:58pm Sep 20, 2013 12:58pm
Quoting muddassar001
Hi, I am in a bit of trouble at the moment and require immediate help from you guys. I am new to forex and have lost much of my money. around $6000 and now i have only $1700 equity left with a $2500 loss on my account with bids at different positions. I cant afford to loose this money too as this is what i am left with if i can get out of these bids i might get my account back to $4000. I have these positions Eur/USD Sell $1 @ 1.3166 sell 3 @ 1.3168 sell 1 @ 1.3172 sell 1 @ 1.3176 sell 3 @ 1.3264 sell 1 @ 1.3465 sell 1 @ 1.3477 sell 1 @ 1.3483 buy...

you need to hedge your positions.buy & sell should be equal.hypothetically saying if Euro goes up further which may happen if markel(germany) is elected .at the reversal you will close some of your buy.eventually euro will go down to 3100.today or tomorrow.sit tight.
  • #837,014
  • Sep 20, 2013 12:58pm Sep 20, 2013 12:58pm
Quoting attila
{quote} maybe when nobody's looking..
im looking.

the yellow arrows were drawn weeks ago in the following chart,

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #837,015
  • Sep 20, 2013 1:02pm Sep 20, 2013 1:02pm
Quoting ultra_knight
The value of the currency lies in its purchasing power. Its true GOLD is considered as true currency as once ounce retained purchasing power for several years. Currency outperforms gold only in deflationary environments. I dont think we have seen a true deflationary environment in our life times, as central banks intervene and debase currency. In recent years, market is used to stimulus, it has become the oxygen for economy to grow, as there is no real growth. Central banks are trying to create illusion of growth so that everybody spends and economy...

nobody knows the value of gold. like he said we got "e money" and "e gold". both invented out of thin air. one could be bullish and say "if they took away the e-gold then the real stuff has more value" or on the other hand if the "e gold" was removed. what would happen to the market? with the "e gold holders selling in a fire sale... then who is brave enough to pick that bottom?
those who can, do. those who cant, talk about those who can
  • #837,016
  • Sep 20, 2013 1:05pm Sep 20, 2013 1:05pm
Quoting tanim
{quote} you need to hedge your positions.buy & sell should be equal.hypothetically saying if Euro goes up further which may happen if markel(germany) is elected .at the reversal you will close some of your buy.eventually euro will go down to 3100.today or tomorrow.sit tight.

whats the difference from just staying out? besides the spread cost and the no stress.
those who can, do. those who cant, talk about those who can
  • #837,017
  • Sep 20, 2013 1:09pm Sep 20, 2013 1:09pm
GBP/USD long term:

don't get scared nothing goes up/down in a straight line except Great British Pound

target 1.81/1.83
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  • #837,018
  • Sep 20, 2013 1:09pm Sep 20, 2013 1:09pm
Quoting ffleo
{quote} By the way I keep an eye on your posts. See, your posts benefit my trading even though mine do not benefit yours.
Sir Ffleo,

You are making the wrong assumption. I also look at a lot of the posters here and what they post. You may very well add a lot of positive contribution. The problem I have with your post - is the fact that you indicate that you would have "saved" a lot of traders. This is all good - but this entails a 100% success rate. What do you say to the next guy after your statement - when the trade does not work out?

You are putting yourself into a terrible situation.

something like: " One should take my input more seriously" would carry a lot more.

I have promised myself that I would not judge. I failed - again.

I respect your input - just the way you go about presenting it...

All resprect
  • #837,019
  • Sep 20, 2013 1:15pm Sep 20, 2013 1:15pm
not going out on any eu limbs.. the lying st has 3482, 3492 is halfway to 3451
those who can, do. those who cant, talk about those who can
  • #837,020
  • Sep 20, 2013 1:18pm Sep 20, 2013 1:18pm
Quoting TauTrader
{quote} I respect your input - just the way you go about presenting it......
Hi TauTrader,

Agree with you. I do know sometimes I sound arrogant because my woman also says so. Im in the process to tone it down.

All Respect to You too
ignore wackos and psychos, including myself. But I can't add myself to iggy
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