Oil should be going higher if the probability of war is higher - WTI has also dropped with more that 13% the last few days so no professional is selling oil right now unless the expect a major global meltdown.
You misunderstood me. I think Netanyahu could only have brought Mofaz in by giving him a veto over strikes against Iran; he would be a very hard sell on either the necessity or the chances of success for such a move. I think the probability of war has shrunk dramatically.
I sold Euro on 1.2975 as I was in a rush, waited for the correction and sold once bounced off from S1 at 1.2944. Missed the bounce back from pivot as had no internet connection
The pair appears in short term up trend towards the resistance area of 1.2950-55 after we can expect reverse to a lower low. I do not expect any major moves until London & NY are in business.
I was wondering what my fellow traders where thinking about the fact that euro, even though it's been seen so bearishly all across the board is still managing to defending itself. In fact the last 12+ hours of trading have produced a mere 35 pips decline. Does anyone agree with me that we have reached a bottom in the market, some big player does not want the euro the to slide further and it's buying into the downward pressure.
I hope to learn your opinion about this
Hi
Lookin at the short term picture, Bullish Divergence plays on the 4hr for E/U so we may get some decent bounce here off of a pivot level. Same type of play for E/J as well. We'll see if the pop up comes through. Good Luck all.
I was wondering what my fellow traders where thinking about the fact that euro, even though it's been seen so bearishly all across the board is still managing to defending itself. In fact the last 12+ hours of trading have produced a mere 35 pips decline. Does anyone agree with me that we have reached a bottom in the market, some big player does not want the euro the to slide further and it's buying into the downward pressure.
I hope to learn your opinion about this
Hi
There are all kinds of possibilities:
Swiss National Bank does not want euro falling hard as it would make the franc-peg hard to defend. The ECB has tended to sell off forex for euros rather than the reverse. The Asian banks who were buying big late March through April aren't buying much anymore, but may step in now and then to prop up the currency and defend their investment decision. There could be options players who would be fine with a falling euro, except-- not right now. The overall selling pressure remains high (stiff resistance at 1.295 as I write 9:45EDT = 10:45 AM in Tokyo; 29 and a half was support, just recently) and I think a bottom cannot really be defended yet, but the pace of the downward move can be slowed down for a while.
Hi Robert - as usual, thanks for your researched info on the reasons why the Euro is still relatlively strong despite the various bearish forecasts and also the actual events happening in Greece, Spain etc. Looks like there will be continued support - but how long more?
There are all kinds of possibilities:
Swiss National Bank does not want euro falling hard as it would make the franc-peg hard to defend. The ECB has tended to sell off forex for euros rather than the reverse. The Asian banks who were buying big late March through April aren't buying much anymore, but may step in now and then to prop up the currency and defend their investment decision. There could be options players who would be fine with a falling euro, except-- not right now. The overall selling pressure remains high (stiff resistance at 1.295 as I write 9:45EDT = 10:45 AM in Tokyo; 29 and a half was support, just recently) and I think a bottom cannot really be defended yet, but the pace of the downward move can be slowed down for a while.
Plus the Obama Administration doesn't want a strong dollar. Actually they want the destruction of the dollar.
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Originally Posted by ando24
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cool?
Scalping with the Trend
Eur/USD bound to go down?
