Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Originally Posted by melbgirl

It looks like everyone went to sleep, including the market. The rally isn't all that spectacular so once again it points to EUR weakness even as the USD seems to be in a death spiral. At some point though the Chinese will say enough is enough, we are hurting our own interests by talking down the dollar and we could take the elevator down after this gruelling climb.

I'm out of the market, waiting for some confirmation for the next move, it's too uncertain the way it is now. The way EUR/JPY skidded to a halt at 136 is not very encouraging for longs.

Yep, not encouraging at all, have no idea who pushed it to 1.36 because tomorrow is the last day of the quarter, at 3pm on tuesday nothing will stick, the window dressing is done and the real summer starts .....longs should get their stop loss tight....and shorts should be careful with their entry level because they could get burn in the next 24hr...

it is a wise decision to stay on teh sideline .....smart trader keeps the dry powder ready....

are you hungarian?

Yes, I am. The way it looked at 135.45 I was pretty certain it will fall further. You're right and I'm not keen to get stuck on the wrong side of a trade for an entire sleepy Asian session. I covered long cable and eur on the stall and will wait for clues if I can trade today at all as I might have other things to do. With the SSI my experience is that you still have to choose your entry points right but otherwise it's a useful tool to determine the bias, e.g. will rallies be sold or dips bought.

Originally Posted by melbgirl

Yes, I am. The way it looked at 135.45 I was pretty certain it will fall further. You're right and I'm not keen to get stuck on the wrong side of a trade for an entire sleepy Asian session. I covered long cable and eur on the stall and will wait for clues if I can trade today at all as I might have other things to do. With the SSI my experience is that you still have to choose your entry points right but otherwise it's a useful tool to determine the bias, e.g. will rallies be sold or dips bought.

what about the cot info, did you ever look at it? I did follow it since April and find it very useful.....if you add the pieces from the SSI and the risk sentiment....

Originally Posted by melbgirl

Yes, I am. The way it looked at 135.45 I was pretty certain it will fall further. You're right and I'm not keen to get stuck on the wrong side of a trade for an entire sleepy Asian session. I covered long cable and eur on the stall and will wait for clues if I can trade today at all as I might have other things to do. With the SSI my experience is that you still have to choose your entry points right but otherwise it's a useful tool to determine the bias, e.g. will rallies be sold or dips bought.

look at the USD/CHF....if you look at the risk./reward ratio....stop loss size...I think it is a good trade...your entry order should be around the 1.0655 stop 1.0575 and your TP should be around 1.1020 or higher.

after the end of the quarter and july vacations....USD will be above the 1.10 ...if you hold that far.

Adam, I honestly don't even know what COT is. Tried to google it too but I might just have to ask you to explain it to me :-)

Originally Posted by adam6655nyc

look at the USD/CHF....if you look at the risk./reward ratio....stop loss size...I think it is a good trade...your entry order should be around the 1.0655 stop 1.0575 and your TP should be around 1.1020 or higher.

after the end of the quarter and july vacations....USD will be above the 1.10 ...if you hold that far.

Seems attractive, thanks I might try with a small lot or two. I can always add to it later.

Originally Posted by melbgirl

Seems attractive, thanks I might try with a small lot or two. I can always add to it later.

1 lot because IF it dives (it is july...expect anything) then the next level is 1.04 and 1.0150....so if it dives those are the level to add to it.

if not, enjoy your profit from 1.0655 to 1.1250 (being very realistic)
look at the chart with your sharp eyes...you will see those levels....and 101 is not going to happen unless we have a disaster here in the US....but if it happens here....the rest will catch the flu....just like everytime...

it is fighting the 1.08 level, breaking that will trigger the next level 1.0725 and then 1.0670-50
good luck, I entered my limit order and going to sleep...

other trade is EURO/GBP but the train has left the station ....the levels were .86 and sunday around .8520
heading to .82 and maybe .79 if Euro get trashed after the rate decision

see you all before the UK GDP##s

I think the range of EURUSD will hold, and we are at the upper band of the recent range.

I'll short EURUSD now and target 1.400 which is current lower band.

Can someone explain why are all the EUR rallies so anaemic? We just broke resistance on a huge bullish signal and like the last time, and the time before, and the time before, going back to a year or more it ends up as a pop and fizzle.

I am inclined to wait until the EZ and UK data is out of the road to take a position but my guess is that we'll run out of steam once again if we manage to challenge 1.4200 again at all.

Melbgirl if this breakout has legs it needs to re-test, if it finds support, cover shorts.

Originally Posted by melbgirl

Hi Hutrader........mar regen gondoltam.....

Eeeeh ... You speak Hungarian? :-)

Termeszetesen......

this is an uptrend guys just dont forget this .. it broke the resistance after it tested 1.3750 what more do you need ?

today the GREAT BRITAIN POUND HITS A NEW HIGH versus the USD WOPPIEEEE ..... the market fullfilled my wish .................................

Hi All,
I have been following the NZ $ with a view to more trades, but since studying the details of the NZ economy thoroughly, I am now mystified at the rise of the NZ $ against the US and the other main currencies. Apart from one month's trade surplus, all the figures and stats for NZ are negative. The indebtedness of the nation is massive......the 4 million population owe 160 billion.... one third of the Government Budget is "social welfare", amounting almost to the total of the individual tax take.....The Govt has to borrow an additional 8-9 billion to run this year...The 1st quarter GDP dropped one whole percent (4% annualized!!)...
The country suffers from a rather poor infrastructure, especially involving telecommunications.... The country depends on a very narrow range of products and services for it's survival......And to top it off, it's workforce is rated as one of the most inefficient in the OECD. After learning all that, I have remained cautious and left it, yet the NZ $ stays strong....
Any words of wisdom?
Ciao