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

Originally Posted by rickos

Especially since Merkel was told to keep quiet...

Im short eur/nzd here - not sure whether to take a position in eur/usd. I still don't think we have seen the bottom though.

Originally Posted by Mary R

Im short eur/nzd here - not sure whether to take a position in eur/usd. I still don't think we have seen the bottom though.

Well you probably made off with some good money on your UC long early today (yesterday market day)

Since Steve mentioned "angle of descent" aka submarine, it appears the Euro leaders aren't against its "descent". they would just like to see a more "normal angle".

Originally Posted by rickos

Well you probably made off with some good money on your UC long early today (yesterday market day)

Yes, I had usd/cad long since 1.015 and sold it. Thinking of getting back in

Babushka, where are you? Need some help over here...

it will be really cool if that happens. that way we longs can also add to our longs at lower levels and ride the same price twice for profit.

Originally Posted by cw1

1,2 and 4hourly charts looking bullish, which is good, that will give more shorts and we can trade over the same pips weve already profited on!

How cool is that profiting twice!!

Originally Posted by rickos

Since Steve mentioned "angle of descent" aka submarine, it appears the Euro leaders aren't against its "descent". they would just like to see a more "normal angle".

Spot on. It was funny to watch today. All the European wealth that concentrated into hard commodities over that past few weeks has started to unwind. Take a look at copper and crude. Once commodity traders fully realize what's happening and they are able to collect an "insurance premium" from the Europeans' for the debunked dooms day trade watch how hard the risk trade comes back.

Originally Posted by rickos

Since Steve mentioned "angle of descent" aka submarine, it appears the Euro leaders aren't against its "descent". they would just like to see a more "normal angle".

As a pilot, I can tell ya that if your angle of descent it too steep, the wings can come off.

Originally Posted by MoneyManager

As a pilot, I can tell ya that if your angle of descent it too steep, the wings can come off.

You forgot to say "pun intended."

However, I understand BRIC countries took a pretty good beating lately. China alone shaved $48B off its surplus because of their super idea to switch their reserves to Euro.

Chavez is pretty upset too...

There is a popular saying in Greece, (absolutely no religious pun intended) that
"No matter how far Jesus Christ falls, he's still better than 10 Saints."

Originally Posted by Steve125

The ECB started down a much more friendlier and more transparent road with the markets today. I feel the angle of decent will normalize now.

Steve,
can you explain that,please?

Originally Posted by andresgc67

Steve,
can you explain that,please?

They gave the market the details on how they plan to sterilize ( offset impacts to euro money supply) due to the bond purchases (due to the bailout).

It's signals to the market that we will be informed as this thing unfolds and that they will work to limit it's impact in the open. You can read a related article here.


ECB moves swiftly to sterilize govt bond buying | Reuters

Hope that helps.

Originally Posted by Steve125

They gave the market the details on how they plan to sterilize ( offset impacts to euro money supply) due to the bond purchases (due to the bailout).

It's signals to the market that we will be informed as this thing unfolds and that they will work to limit it's impact in the open. You can read a related article here.


ECB moves swiftly to sterilize govt bond buying | Reuters

Hope that helps.

I just love words with new meanings. "Sterilize."
Our esteemed lawmakers in Illinois now call raising taxes "revenue enhancements."

Originally Posted by rickos

I just love words with new meanings. "Sterilize."
Our esteemed lawmakers in Illinois now call raising taxes "revenue enhancements."

Illinois has some 'esteemed lawmakers'?

Originally Posted by MoneyManager

Illinois has some 'esteemed lawmakers'?

Got me there. It was a typo...

Originally Posted by AyoBro

I agree that the waves B & D on Stev's chart could possibly be labeled differently but his wave B looks more like a zigzag too me, which is my wave A(6037-2328). The rise from 2328 to wave A's 76.4 fib is my wave B. We are currently in a wave C but it has exceeded the 61.8 of wave A(possible C failure point for running flat) in length and is possibly targeting 100% of A@1591 or 161.8 of A@9464. Looking at wave C's implusive move down, I'd say a waves 1-4 are complete and we are in wave 5 of wave C. Depended on where wave 3(3267 on my chart) ends on a particular chart, is how I've targeted 2189(w5 equals 161.8*w1 being w5=w1 has been exceeded).

A-Yo Bro

It may break or hold?

A-Yo Bro