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

Originally Posted by CodyB

what leads you to that conclusion?

with little to no PA for the last 10 hrs I have not seen it tell us yet where its headed, sure there are pips to scalp from the 5 min charts but nothing LT for any confirmation..

if the $index does fall we will rally however

Hi Cody,

What does your short-hand "PA" stand for?

Originally Posted by oztrader

Hi Cody,

What does your short-hand "PA" stand for?

Price Action

Originally Posted by CodyB

I have pulled up Aget charts on EU from 30 min to 4hr and none of them show anything UP..everything is down from here on them but then again its only software for EW and not to trade from. I like to look at them for confirmation sometimes if many TF all concur

Everybody has their own method; mine is patterns. What I see and trade from, you may view as absolute jibberish. It works for me, it's what I know, it's how I trade.

What I saw was this (it's an uncleaned chart with many notes so it is quite busy):
http://www.tafool.com/Charts/myview.gif

TAfool

I agree 1.2610 has been tested three times now and has provided great support. If we break that we may head significantly lower. Until proven otherwise it is strong support.


-P

Originally Posted by 4xtr8ter

If this thing breaks 1.26 it wont stop at 1.2560..... but I am thinking it goes back into the .127's or higher

Originally Posted by TAfool

Everybody has their own method; mine is patterns. What I see and trade from, you may view as absolute jibberish. It works for me, it's what I know, it's how I trade.

What I saw was this (it's an uncleaned chart with many notes so it is quite busy):
http://www.tafool.com/Charts/myview.gif

TAfool

I don't think that is jibberish. I think you have some good charts.

I'm off to the Land of Nod!
I haven't any Idea if I'll get filled, but I have short orders at 1.2700 and 1.2750.
See Ya in the AM EST.

C'mon Brownies!

Just closed out my June 1.27 Puts for a nice profit and bought more Dec. 1.35 Calls that look dirt cheap at 0.0216. I cannot even remotely envisage a Euro below 1.40 in December.

I'm not a technician, but the longer the Euro stays at 1.2650 levels the greater will be its chance of resuming the uptrend after a less than 50 % retracement from 0.85 cents to $ 1.60. Why? Because the U.S. trade deficit has resumed its expansion, U.S. GDP growth is set to decline over the next 2 quarters as artificial stimulus packages expire (tax provisons, home buyer assistance) and, not least, I believe all the 'bad Euro news' is already priced into the 35 cent decline from its peak. Attention will now return to the burgeoning U.S. budget deficit which will be well over 10 % of GDP this year.

U.S. interest rates are at all-time lows (another massive growth booster). If growth is anaemic at zero interest rates, God knows what will happen when rates rise as they are set to do after the massive increase in the money supply begins feeding inflation. The result will be Stagflation which took the Dollar to historical lows during the Carter era.

Just looking ahead. No idea what happens today, next week or next month, but 8 months ahead looks a no-brainer. Sooner or later the technicals catch up with the fundamentals.

Originally Posted by Parviz

Just closed out my June 1.27 Puts for a nice profit and bought more Dec. 1.35 Calls that look dirt cheap at 0.0216. I cannot even remotely envisage a Euro below 1.40 in December.

I'm not a technician, but the longer the Euro stays at 1.2650 levels the greater will be its chance of resuming the uptrend after a less than 50 % retracement from 0.85 cents to $ 1.60. Why? Because the U.S. trade deficit has resumed its expansion, U.S. GDP growth is set to decline over the next 2 quarters as artificial stimulus packages expire (tax provisons, home buyer assistance) and, not least, I believe all the 'bad Euro news' is already priced into the 35 cent decline from its peak. Attention will now return to the burgeoning U.S. budget deficit which will be well over 10 % of GDP this year.

U.S. interest rates are at all-time lows (another massive growth booster). If growth is anaemic at zero interest rates, God knows what will happen when rates rise as they are set to do after the massive increase in the money supply begins feeding inflation. The result will be Stagflation which took the Dollar to historical lows during the Carter era.

Just looking ahead. No idea what happens today, next week or next month, but 8 months ahead looks a no-brainer. Sooner or later the technicals catch up with the fundamentals.

Well, you definately have a grasp of monatary situations. Profiting on those puts shows you have vision. I'm still trying to balance my checkbook...8^)

what price do you think is a good buy for Euro?

This pair needs a good swift kick down. It seems to me like it is trying to fall, but just can't get going. Europe has been powering it up the last few days, maybe they will power it down today. Where is a financial crisis when ya need one.

Originally Posted by bill2759

If You are referring to FXCM's Trade Station, Yes you can. You can also trade right off the Charts. FXCM has a tutorial on how to do it. That's why the Brownies can come and work while I sleep!
LOL

I'm demoing Trading Station. Any way to control the color flash (both the color that flashes for ascending or descending prices, and even whether or not there is a flash)? I can't seem to find any option setting that does this.

Originally Posted by mechtech

Well, you definately have a grasp of monatary situations. Profiting on those puts shows you have vision. I'm still trying to balance my checkbook...8^)

Except that the poster (Parviz) is going to regret making that prediction about US growth declining over the next two quarters. It may not be very robust, but at least it is highly unlikely to decline. All the pieces of growth are there, including increasing parts shortages and other growth pointers.

Originally Posted by MoneyManager

I'm demoing Trading Station. Any way to control the color flash (both the color that flashes for ascending or descending prices, and even whether or not there is a flash)? I can't seem to find any option setting that does this.

System|Options...

A lot of things can be changed but the blue/red colors are fixed. Look for the "Bright Background" to change the flash. Increase the number to lock the color. Going to "0" gives a very fast annoying flash.

Regards,
TAfool

What exactly is this pair doing? Bigger picture still shows a downtrend but it seems like it is trending up and I am guessing might go as far as 1.28.

Any feedback?

Originally Posted by TAfool

System|Options...

A lot of things can be changed but the blue/red colors are fixed. Look for the "Bright Background" to change the flash. Increase the number to lock the color. Going to "0" gives a very fast annoying flash.

Regards,
TAfool

Thanks TAF. Yeah, I had found that setting, but I can't seem to make it do what I'd like, which, to be frank, is to not flash. The text color change would be enough, and when it flashes the text color is white anyway.

No way to change the flash colors, I guess. Edit: I'm surprised there is no way to change the colors, since different cultures have their own ideas about it. Here in Japan, at any brokerage, red is the color of a stock that is up, and green or blue one that is down. I downloaded this Trading Station from FXCM Japan (configured to English), and it's still "backwards" as far as most Japanese are concerned. I even set the language to Japanese to see if that changed anything. It doesn't.

Note to FXCM programmers: Get it together will you? I use Amibroker, and it puts your charting software to shame. Completely to shame. Maybe you should consider a licensing agreement.

Second Edit: I'm also flabbergasted that Marketscope apparently has no 4 hour chart. Are you kidding me? Can anyone confirm or deny? (Marketscope 2.0)