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

I cant be short here now. I wait for asia to see what happens with 12140. I have not seen any cause for being short even though the charts trend shows that elegantly. The repel from the overhead resistance was not strong enough..there would be another test to confirm this.

Originally Posted by Mary R

Im not enough of an EW expert to say. My take is that it is going to take a real catalyst to change what is a very powerful downward trend and this is a bear market rally. If it breaks this downtrend line then the trend may have finally changed. The comments by Trichet didnt really change anything, nor does the fact that Chinese exports grew.
Most bear markets do not end with a stair step upward trend, they end with a smashing pivot point and dramatic reversal upward, like when the Dow dipped below 7000 and reversed back upward. Until I see that I am inclined to stay with the primary trend.

Im a newb regarding the DOW, how exactly does it affect the market and looking at it now what do you guys see. Im looking at a minute chart n it keeps going up

Originally Posted by Mary R

Im not enough of an EW expert to say. My take is that it is going to take a real catalyst to change what is a very powerful downward trend and this is a bear market rally. If it breaks this downtrend line then the trend may have finally changed. The comments by Trichet didnt really change anything, nor does the fact that Chinese exports grew.
Most bear markets do not end with a stair step upward trend, they end with a smashing pivot point and dramatic reversal upward, like when the Dow dipped below 7000 and reversed back upward. Until I see that I am inclined to stay with the primary trend.

the trend will always be your friend.

Originally Posted by Kurt_Lang

Im a newb regarding the DOW, how exactly does it affect the market and looking at it now what do you guys see. Im looking at a minute chart n it keeps going up

i am most likely alone in this thought .looks like a lot of window dressing .really no volume for type of price movement we had today alot of news coming out of US in morning.

Muhhhh i cant sit well with this, need to research the DOW find out what its all about. My hand is getting twitchy looking at the movement and not understanding how it affects the currency

Originally Posted by Kurt_Lang

Muhhhh i cant sit well with this, need to research the DOW find out what its all about. My hand is getting twitchy looking at the movement and not understanding how it affects the currency

The US dollar tends to move in the opposite direction of the stock market based on investors' appetite for risk. When fear is high the market goes down and the dollar goes up and vice versa

Originally Posted by Kurt_Lang

Muhhhh i cant sit well with this, need to research the DOW find out what its all about. My hand is getting twitchy looking at the movement and not understanding how it affects the currency

good choice

The Eur/Usd seems to be very obedient just lately in following my red lines.

Here is the chart I posted a couple of hours ago and an update to it.

I wondered if perhaps it would be nice to ask you guys where you would like me to draw the next one? lol

Colly
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Thanks for the lesson Mary, im gonna head over to informedtrades.com to study more

Originally Posted by Kurt_Lang

Thanks for the lesson Mary, im gonna head over to informedtrades.com to study more

Mary is spot on there Kurt... Trade with what you see
The dow mental high today=usd basket down=eur up
what may be helpful is if your trading short and get caught...pick a spot on the 30 min chart as its about to break down.....on MACD ...I sometimes do this to catch up with a previous short entry....when it catches it i close the first 1st one....then move my stop to entry on the 2nd one...pop a few more points then close in profit...just an idea thats all

Originally Posted by Colly

The Eur/Usd seems to be very obedient just lately in following my red lines.

Here is the chart I posted a couple of hours ago and an update to it.

I wondered if perhaps it would be nice to ask you guys where you would like me to draw the next one? lol

Colly
----

your yellow brick road is working fine.just keep that pencil sharpen. appreciate your insight .

Originally Posted by cw1

Mary is spot on there Kurt... Trade with what you see
The dow mental high today=usd basket down=eur up
what may be helpful is if your trading short and get caught...pick a spot on the 30 min chart as its about to break down.....on MACD ...I sometimes do this to catch up with a previous short entry....when it catches it i close the first 1st one....then move my stop to entry on the 2nd one...pop a few more points then close in profit...just an idea thats all

Hmmm..? Yeah no im not disagreeing with anything she said since i dont what the heck DOW is. Im just need to research the history of it you know, research never hurt no one. I just like to hear both the sum up and the entire story of things

well that spammer didnt last long.. hehehe

Originally Posted by FLFOREX

well that spammer didnt last long.. hehehe

whats a spammer

Originally Posted by nopainnogain

whats a spammer

Its what you use to tighten the nut onto a bolt