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

Originally Posted by MysticMegatron

retail sales to disappoint @ 1:30! need to pay for my holidays

0.0 vs 0.3% FC. Oh yeah

Charts from today's Bulls vs. Bears webinar

Hello Traders,
US Retail Sales comes out weaker than expected while PPI falls as well. Euro Initially rallied and then dropped. Do you think the decline will continue?

JP Morgan Chase CEO Jamie Dimon will appear in front of the Senate Banking Committee to discuss the $2 billion trading loss. If every trader that had a loss had to appear before a committee .......

A great showing by the CEO could spark a rally in equities and spark a "risk on" rally. However, if the Committee is more harsh on the CEO, banking stocks could sell off and trigger rallies in dollar, yen and 10-year treasury.

Happy Trading
SSI Details:

EURUSD - The ratio of long to short positions in the EURUSD stands at -1.15 as nearly 54% of traders are short. Yesterday, the ratio was at -1.03 as 51% of open positions were short. In detail, long positions are 0.4% lower than yesterday and 7.2% stronger since last week. Short positions are 11.2% higher than yesterday and 9.2% stronger since last week. Open interest is 5.5% stronger than yesterday and 3.2% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.57 as nearly 61% of traders are long. Yesterday, the ratio was at 1.21 as 55% of open positions were long. In detail, long positions are 3.3% higher than yesterday and 0.8% weaker since last week. Short positions are 20.5% lower than yesterday and 7.3% stronger since last week. Open interest is 7.5% weaker than yesterday and 13.8% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.00 as nearly 67% of traders are long. Yesterday, the ratio was at 2.15 as 68% of open positions were long. In detail, long positions are 1.3% higher than yesterday and 0.3% weaker since last week. Short positions are 8.9% higher than yesterday and 46.8% stronger since last week. Open interest is 3.7% stronger than yesterday and 8.2% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

USDJPY - The ratio of long to short positions in the USDJPY stands at 4.52 as nearly 82% of traders are long. Yesterday, the ratio was at 5.05 as 83% of open positions were long. In detail, long positions are 5.9% lower than yesterday and 10.7% weaker since last week. Short positions are 5.2% higher than yesterday and 6.9% stronger since last week. Open interest is 4.0% weaker than yesterday and 14.8% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at -1.36 as nearly 58% of traders are short. Yesterday, the ratio was at -1.30 as 57% of open positions were short. In detail, long positions are 2.3% lower than yesterday and 4.3% weaker since last week. Short positions are 1.8% higher than yesterday and 12.2% stronger since last week. Open interest is 0.1% stronger than yesterday and 9.6% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.

USDCAD - The ratio of long to short positions in the USDCAD stands at -1.39 as nearly 58% of traders are short. Yesterday, the ratio was at -1.41 as 59% of open positions were short. In detail, long positions are 2.7% higher than yesterday and 4.8% stronger since last week. Short positions are 0.9% higher than yesterday and 0.6% stronger since last week. Open interest is 1.6% stronger than yesterday and 8.8% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.44 as nearly 59% of traders are long. Yesterday, the ratio was at 1.68 as 63% of open positions were long. In detail, long positions are 10.0% lower than yesterday and 5.0% weaker since last week. Short positions are 4.4% higher than yesterday and 4.5% weaker since last week. Open interest is 4.6% weaker than yesterday and 1.9% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 1.48 as nearly 60% of traders are long. Yesterday, the ratio was at 1.57 as 61% of open positions were long. In detail, long positions are 6.1% lower than yesterday and 17.2% weaker since last week. Short positions are 0.2% higher than yesterday and 37.9% stronger since last week. Open interest is 3.7% weaker than yesterday and 4.9% below its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.

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what I'm watching for..then an equidistant swing north from the low..stops at the wick peaks looking left..sorry but was not gonna clean up charts just to post them. most of the majors look the same. really nothing changed from weeks ago. I still think we have seen the low for now. back to scalping charts to play the swings

remember we are headed into triple witching

see ya at close, errands to run

Originally Posted by CodyB

remember we are headed into triple witching

see ya at close, errands to run

Ok Cody. I see a nice Inverted Head and Shoulders on your Euro Chart which bodes well for the bulls

Originally Posted by Gregory McLeod

Ok Cody. I see a nice Inverted Head and Shoulders on your Euro Chart which bodes well for the bulls

I'm baffled... I'm bullish on euro against the 2395-2504 stand out but bearish on gold...... perhaps I'm bias on gold maybe for been short,,
but what is the possibility of a euro holding 2500-04 and showing 2680 while gold holding 1625 and showing 1540..........
I know, sounding very stupid............. but maybe it's the extra lottage I'm carrying for down south train on the GOLD.........
and just to have the reality check I know 2+2 and 2X2 equals 5................. So, I'm not gone insane for now.......
PS:: If the probability is nada, would you atleast could say euro would tank and so will be the gold...........
thnx...........
GL..

Originally Posted by stryker

I'm baffled... I'm bullish on euro against the 2395-2504 stand out but bearish on gold...... perhaps I'm bias on gold maybe for been short,,
but what is the possibility of a euro holding 2500-04 and showing 2680 while gold holding 1625 and showing 1540..........
I know, sounding very stupid............. but maybe it's the extra lottage I'm carrying for down south train on the GOLD.........
and just to have the reality check I know 2+2 and 2X2 equals 5................. So, I'm not gone insane for now.......
PS:: If the probability is nada, would you atleast could say euro would tank and so will be the gold...........
thnx...........
GL..

The daily SMA20 sits above today's high which perhaps accounts for that push back, but here is the 1,2 & 8 hr Hull MA's - gold is for up!! The 2 day (which does not fit on this 5 min chart) has been bullish since the last week. Take out that high and weekly R1 looks on for starters.

Originally Posted by Clivewaverider

The daily SMA20 sits above today's high which perhaps accounts for that push back, but here is the 1,2 & 8 hr Hull MA's - gold is for up!! The 2 day (which does not fit on this 5 min chart) has been bullish since the last week. Take out that high and weekly R1 looks on for starters.

thnx Clive.. I have lighened up a bit and true would be force to hit longs higher to 1625-26+..
USD is coming around to its supp so we shall find out soon enuf.......
As it's a free ride for me on the gold, still would like to see it going that distance for I'm still modestly short on it..

GL..

Originally Posted by stryker

I'm baffled... I'm bullish on euro against the 2395-2504 stand out but bearish on gold...... perhaps I'm bias on gold maybe for been short,,
but what is the possibility of a euro holding 2500-04 and showing 2680 while gold holding 1625 and showing 1540..........
I know, sounding very stupid............. but maybe it's the extra lottage I'm carrying for down south train on the GOLD.........
and just to have the reality check I know 2+2 and 2X2 equals 5................. So, I'm not gone insane for now.......
PS:: If the probability is nada, would you atleast could say euro would tank and so will be the gold...........
thnx...........
GL..

I think people are selling off gold as the long term trends have broken and some real money holders may be looking to take profits off long-term trades.

only declining US data can lead to more US QE and that is the only thing that will help gold take off again imo as dollar confidence is strong. We need another poor NFP for more QE talk imo as the last one was put down to weather-related effects, but that isnt til 3rd of August and we could be anywhere by then

Originally Posted by jogold18

need to break 1.2525 to head up to 1.26. got other resis at 1.2544 & 1.2577. once we break weekly pivot, expecting some kind of small pullback before a move higher. got support @ 1.2490, stay above and pressure is to the up side still.

well half way there, now the other half, we got a retest of the weekly pivot thou we missed it by 6 pips. shouold get other half of the leg to 1.26.

Originally Posted by jogold18

well half way there, now the other half, we got a retest of the weekly pivot thou we missed it by 6 pips. shouold get other half of the leg to 1.26.

almost there...
here is some shorter term charts on SPX / EUR / GU / USD and gold...
SPX at critical resis and should show early sign on direciton.. USD 30 mins hit supp and EUR 15 mins hit resis as well....
main resis on euro now 2489 / aud 10014 and gu 5596 still holds as a bonafide resis..
if these pairs are breaking higher to em' then well meaning USD is going for full correction down to 10108-10.........
GL..

Originally Posted by stryker

almost there...
here is some shorter term charts on SPX / EUR / GU / USD and gold...
SPX at critical resis and should show early sign on direciton.. USD 30 mins hit supp and EUR 15 mins hit resis as well....
main resis on euro now 2489 / aud 10014 and gu 5596 still holds as a bonafide resis..
if these pairs are breaking higher to em' then well meaning USD is going for full correction down to 10108-10.........
GL..

spx should close today at least another 10 points up by the monthly pivot @ 1336 if not higher. once we get a clean break of the 200MA on 4 hour (which should be now ish), should really get the bulls going. resis for me is is 10 points up 1336...
done for trading today......

GL

Originally Posted by jogold18

spx should close today at least another 10 points up by the monthly pivot @ 1336 if not higher. once we get a clean break of the 200MA on 4 hour (which should be now ish), should really get the bulls going.

i find it hading to 1366-70 above the current resis close...

GL..

Originally Posted by chaudhry

Price moved as expected....
one looner long still holdin from 2509 the neckline breakout on double bottom.
as long as neckline holds i expect a move up to 2575 or R2
n 2600 is the exact target for this double bottom chart pattern,

Congrats to those who picked this trade n got some nice pips...

Ride it to the max........
Lovely day.....
expected target 2575 hit, n exact target 2600 is wht im lookin for now..

Gud luck n Happy Trading
~ chaudhry ~

n 2600 hit as well..... Cheeers......!!