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

Originally Posted by MOZI32

i m sorry guys , but dollar index made a triple top and testing neckline on 79.00

and euro is still up while above 1.3300/1.3350.

i think they are only shaking the long and traping short traders ,..

any way i m using my stop if i m wrong , but becareful from dollar index pattern.

Attachment 76615

there is good reference for pattern here an example for triple tops http://thepatternsite.com/tt.html
hope it could help
good luck for every one.

Here's some counts to go with DX.

Originally Posted by AyoBro

Here's some counts to go with DX.

that s nice , but i belive that pattern are more stronger, i m not an expert in elliot
. any way we have our stop and good luck for you and me and every one

someone talk about the fall in the Dollar Index earlier?

I think unless China is showing more wellingly to rise yuan vs the dollar I see limited fall in the dollar index (Euro weigthed about 60% of it)

The European have their EURO - the China US have their "Dollar Yuan" currency

What do you all think?


The question now; Is China going to raise yuan vs dollar quicker than before?
My answer: why should they do so to suit other?

my only concern is that the china may try too hard to help the European crisis for their political purposes... causing it to dump some dollar assets, resulting the Yuan to rise vs the dollar.

Been shorting on and off since 1.30 lol. Dont think I can survive another leg up. Any suggestions? Kill it here or wait it out?

Originally Posted by Bari Baig

Missed the first target by 11 pips :s

Munawar, e/u should about now start to ease off, you might want to have a stop some place.

Bari,
Hi, been a while huh? thanks for the tip, I already have the stoploss placed just below the most recent swing low. Think the pair will start heading backup soon?

Cheers

Marty 1.3314 anything past is a bonus and then this ship turns around. 3hour chart and daily and weekly are all requesting a change of pace after this little dip.

Originally Posted by captester

Marty 1.3314 anything past is a bonus and then this ship turns around. 3hour chart and daily and weekly are all requesting a change of pace after this little dip.

Thx for the input.

Captester

Just to confirm, down then up?

Originally Posted by MOZI32

that s nice , but i belive that pattern are more stronger, i m not an expert in elliot
. any way we have our stop and good luck for you and me and every one

I like your chart because its a stronger signal than my double top. I have something you might find interesting. Two charts side-by-side, both with the same pattern(second chart). Can you tell if they are two different TFs?

,


That has got to be the most crazy price action that I have ever experienced on EU.

One of the team and I worked real closely together today and traded EU, UC and GJ with simulataneous calls for all.

GJ is work in progress.. UC was bliss on Fx wheels, whilst EU chose to play yo-yo.

We had two shorts initially on EU and having finely aggregated a net gain SL for both shorts applied the same value to mine ( which I traded at lower values to said team member ) and which resulted in an extremely rare loss.

I got it back pretty quickly but that'll teach me for not thinking things through properly. Maybe.

How we stumbled upon the UC trade in perfect time God only knows, whilst how we made anything trading EU I can't remember... but we seemed to have done ok.

Heres the post action charts and result:


,

Originally Posted by Colly

,


That has got to be the most crazy price action that I have ever experienced on EU.

One of the team and I worked real closely together today and traded EU, UC and GJ with simulataneous calls for all.

GJ is work in progress.. UC was bliss on Fx wheels, whilst EU chose to play yo-yo.

We had two shorts initially on EU and having finely aggregated a net gain SL for both shorts applied the same value to mine ( which I traded at lower values to said team member ) and which resulted in an extremely rare loss.

I got it back pretty quickly but that'll teach me for not thinking things through properly. Maybe.

How we stumbled upon the UC trade in perfect time God only knows, whilst how we made anything trading EU I can't remember... but we seemed to have done ok.

Heres the post action charts and result:


,

Hey Colly,

May I make a suggestion? Add AUD/USD in your portfolio. I have a feeling once you start following it, you'd like it very much.

Cheers

Colly,
Hey, I PMed you a few days bacl i think...still havent got an answer from that. Please check it out ok?

Thanks,

[QUOTE=Chrisfx92]
I give up.

Originally Posted by Spartan_Forex

you should. you obviously dont know what you're talking about.

FUNDAMENTALS
The U.S. is experiencing the largest bond outflow in 2 1/2 years. These massive redemptions will force interest rates higher to attract foreign aid to which the U.S. is addicted, causing a double dip and massive flight from the Dollar. Last month saw $ 5 billion net Munibond outflows (Mary, take note). The U.S. Government is buying $ 100 BILLION/MONTH of its own bonds to disguise the financial haemmorhage. The Government has announced $ 2.5 trillion of budget cuts that will target Social Security, pensions and Medicare, boosting the wealth chasm and increasing poverty in a nation already suffering historically high unemployment. There is officialyy an oversupply of unsold homes totalling one million, but if the forecasted additional foreclosures and other distressed sales are added in the figure is closer to 2.5 million excess inventory in 2011. Commercial real estate and credit card debt (from which Europeans don't suffer nearly as much as Americans) are 2 additional ticking time bombs in 2011.

TECHNICALS
Major positive MACD/RSI/MOM divergence on the Hourly chart, a sharp upward penetration of the Daily 30 SMA by the 10 MSA (reversing the downward penetration on Nov. 12th that preceded a 1000 bip drop), current price sitting above the 38.2 retracement from the all-time high and ready to challenge the 50 % retracement at 1.3950.

You're right, Spartan_Forex, I clearly don't have the foggiest, faintest clue what I'm talking about.

negative divergence dont you mean?

Originally Posted by MoneyInc.II

Hey Colly here is a reproduction of your Twins TSII style

Money...

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

They gotta show the entry/exit.

They gotta show You what price WILL DO next.

If they don't show this, they come no-where close.