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

Anybody Playing The CPI REport due in just a couple of minutes? Just curious.Otherwise, it would appear that the 5,15,30 & 60 have all started a downward turn. 4950 as I type this. Let's see.

Edit: Just took a small short @ 4959.

Originally Posted by Snoog

Anybody Playing The CPI REport due in just a couple of minutes? Just curious.Otherwise, it would appear that the 5,15,30 & 60 have all started a downward turn. 4950 as I type this. Let's see.

Edit: Just took a small short @ 4959.

Snoog...to me, the month over month numbers are never as moving as a big change in the year over year numbers.

Doesn't mean the m/m CPI isn't important..but the biggest volatility usually comes from the y/y report.

[QUOTE=Snoog;383550]Anybody Playing The CPI REport due in just a couple of minutes? Just curious.Otherwise, it would appear that the 5,15,30 & 60 have all started a downward turn. 4950 as I type this. Let's see.

Edit: Just took a small short @ 4959.[/QU

Took a small long at 4941 and came out at 4965.

Presently stocks are down let's see to what level it goes down.

I see that it had minimal impact. Regardless, looking for a couple of small moves to take advantage of. Hence, just got a quiick 15.7 pips from the latest pop. Looking for the "big one". Got my eyes open. Tryinmg to make up for yesterday. Later.

Originally Posted by Snoog

I see that it had minimal impact. Regardless, looking for a couple of small moves to take advantage of. Hence, just got a quiick 15.7 pips from the latest pop. Looking for the "big one". Got my eyes open. Tryinmg to make up for yesterday. Later.

Hey, so glad to hear of your profit. That's awesome! Great work!

Quick Question Sean... I haven't studied EW stuff yet. But seeing how it is based on "waves" is that applicable to the shorter time frames of 5 & 1 min charts? I understand that there is more accurate info in the longer time frames with all indicators, but if gravity has the same effect on a golf ball the same as it has on a bowling ball, in principle all is equal correct? Just curious.

Originally Posted by Snoog

Quick Question Sean... I haven't studied EW stuff yet. But seeing how it is based on "waves" is that applicable to the shorter time frames of 5 & 1 min charts? I understand that there is more accurate info in the longer time frames with all indicators, but if gravity has the same effect on a golf ball the same as it has on a bowling ball, in principle all is equal correct? Just curious.

Yes, you can do wave counts on any time frame. That's correct...shorter term charts or longer term charts.

The larger the time frame, generally, the bigger the moves though.

Sean,

Has something changed with the Dow/Euro relationship? The Dow is down and EUR is up. I am totally rattled...Tony

Originally Posted by TonygNC

Sean,

Has something changed with the Dow/Euro relationship? The Dow is down and EUR is up. I am totally rattled...Tony

Tony...first of all, welcome to the trading community. Glad to have you posting with us.

The euro and dow correlation still stands....it's just that its not an "intraday" correlation, but rather a correlation over time.

So overall they head in the same direction but not necessarily every single day or "tick by tick".

Great question. Glad you asked it.

Goldman has the FXE* is its top 10 negative holdings..
On "face" value Goldman is positioned for Euro weakness ..
(FXE* the EUR long bet etf)

Originally Posted by MrWilson

Goldman has the FXE* is its top 10 negative holdings..
On "face" value Goldman is positioned for Euro weakness ..
(FXE* the EUR long bet etf)

Question is..., is that what they're doing or what they're telling everyone to do.

I saw something the other day from them that talked about dollar weakness continuing.

See the attached.

Snoog,

We all make mistakes. It's not over until it is over. You may just see something good come out of all of this.

Originally Posted by Sean Hyman

Question is..., is that what they're doing or what they're telling everyone to do.

I saw something the other day from them that talked about dollar weakness continuing.

I would speculate that after most of the dollar printing programs end in January-February we could see the dollar strengthen sharply soon after. Why would the fed risk letting the banks keep all the new reserve credits and risk mega inflation? Most fund managers know this and will start to rebalance over the coming months.

Originally Posted by Franosh

See the attached.

Any enquiries about the report, please google the author and direct all your questions to him.