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

Anyone think this is heading straight to the Fibo line before a retracement?

Originally Posted by CodyB

I dont know your account size or the lot size you traded but its only 45 pips from your entry so that should not be a problem with the right money management

try these 2 little gadgets to help you figure out MM

perfect for the newbie


click dont update for the risk until you input data for it

Thank you for the tools

Asian session has pushed it to 1.2740 and then 1.2730 in the past two days. Note that London and NY traders couldn't pushed it down below the lows made by Asian traders. Today we saw sharp bounce. Now it is up to Asian traders again. Let's see if they push it down again or not. If not, then a correction is happening. I still favor long for short term and will try around 8:30 Est if it is close to a support level.

My long from 1.2756 was closed at 1.2866 after it pulled back from 1.2888. This was the first winning trade since Aug.

(New readers should know that I am losing money since I started fx)

I cant say how happy i am that its pushing lower, I had sell open that was sooooo nasty. ( For me anyway im sure most of you would laugh if i told you the amount) I knew this was gonna bounce right off the Fibo line and I took another sell at that point which im about to close. This week went from great to bad to average to good, and could end up great again. Im only 27 but my hair is gonna be gray by January. I love it though. Thanks for those of you that post your charts and advice on here, your explanations are invaluable. I have learned more in this forum then I ever did in any of my economics classes in college!

Originally Posted by Moe1981

Thank you for the tools

welcome

did anyone trade the Uj chart I posted

I know this is the euro but the UJ was mentioned and it did hit first target

Originally Posted by CodyB

welcome

did anyone trade the Uj chart I posted

I know this is the euro but the UJ was mentioned and it did hit first target

Like a bible. Thank you very much!

Trying Long in GBPJPY at 154.60... This is yo-yo-ing by 500 pips every few hours... except that more often than not I am caught in the wrong direction!

No margin left to buy EUR, or else I may try my wits there.

Good Lord, I post here before buying and it is already down 40 pips... anyway, bought 1 LOT GBPJPY at 154.30 and going to keep it all the way back to... 160.00! (which means perhaps a few hours)

Normally in bad situations it goes down like 10%. After DOW rally one would have expected Nikkei to do well, no? I think it will recover quickly.

Good call on JPY, Cody, Mel! I knew your were smarter than me, and you both proved it!

Hello,

somebody is using FXCM Micro accounts? I have a question about the spread in those accounts, but I don't want to open a "public" discussion on this forum. Please, send me an email if you want to talk to me about that.

Thanks,

A.

Originally Posted by DollarBull

Normally in bad situations it goes down like 10%. After DOW rally one would have expected Nikkei to do well, no? I think it will recover quickly.

Good call on JPY, Cody, Mel! I knew your were smarter than me, and you both proved it!

Thanks for the credit, I wasn't in the mood for much trading today as I hate being stuck with the wrong trade for the weekend or to end the week with a loss. I tried shorting USD/JPY in the Asian morning from 97.80 but I got frustrated as there wasn't any progress for an hour, now I feel sorry that I took 150 bucks instead of 1500 LOL.

Just bought some mining shares and hopefully by the end of today I will stock up on AUD longs as well.

There is a distinct lack of concern out of Tokyo over the levels of USD/JPY, I wonder if they have resigned to the fact that they have no tools to fix the problem? What would sub 95 levels mean for the currency market? Someone smart tell us please? As it is THE main currency pair apart from EUR/USD.

Originally Posted by melbgirl

Thanks for the credit, I wasn't in the mood for much trading today as I hate being stuck with the wrong trade for the weekend or to end the week with a loss. I tried shorting USD/JPY in the Asian morning from 97.80 but I got frustrated as there wasn't any progress for an hour, now I feel sorry that I took 150 bucks instead of 1500 LOL.

Just bought some mining shares and hopefully by the end of today I will stock up on AUD longs as well.

There is a distinct lack of concern out of Tokyo over the levels of USD/JPY, I wonder if they have resigned to the fact that they have no tools to fix the problem? What would sub 95 levels mean for the currency market? Someone smart tell us please? As it is THE main currency pair apart from EUR/USD.

Well, I got stopped out of GBPJPY but I reentered at 153.00; So it is -$50 so far.

Yes, something is serious happening this night - otherwise why should the rally made a few hours aho reverse abruptly and in a spectacular collapse?

JPY under 95.00 will take matters to a different field game and analysis. I don't think anyone, including the expert analysts expected this.

Originally Posted by DollarBull

Well, I got stopped out of GBPJPY but I reentered at 153.00; So it is -$50 so far.

Yes, something is serious happening this night - otherwise why should the rally made a few hours aho reverse abruptly and in a spectacular collapse?

JPY under 95.00 will take matters to a different field game and analysis. I don't think anyone, including the expert analysts expected this.

My belief is that now it happened, the 95 barrier will be taken out today and you can bet there are some very big stops under that! If that won't take AUD/USD to 59c, then nothing will. That will probably slump the price of my shares too but I didn't want to wait until Monday. So I went short USD/JPY @95.50 and will add to the position on bounces.

Originally Posted by melbgirl

My belief is that now it happened, the 95 barrier will be taken out today and you can bet there are some very big stops under that! If that won't take AUD/USD to 59c, then nothing will. So I went short USD/JPY @95.50 and will add to the position on bounces. That will probably slump the price of my shares too but I didn't want to wait until Monday.

I think AUD USD is so close at bottoming already. If you invest now, even if it drops to 59c, in the next 2 months one can certainly profit from it.

Everything has been oversold and overshot. The whole system from credit market, stock market, currency, commodity is completely screwed up at the moment. I heard the depth and the speed of this crisis in FX market has not occured in the last 20 years. There's no more logic and reasonableness in the market anymore.

This is getting ugly. AUD is being punished big time. USD/JPY just printed 95.12. Option defence will probably kick in now and a bounce could follow. I still believe we are going under 95 today in USD/JPY and under 60c in AUD/USD. I wonder what the short term floor for EUR is going to be. EUR/JPY is only a whiskers away from 120. It's going to be another long night for me.

Originally Posted by melbgirl

This is getting ugly. AUD is being punished big time. USD/JPY just printed 95.12. Option defence will probably kick in now and a bounce could follow. I still believe we are going under 95 today in USD/JPY and under 60c in AUD/USD. I wonder what the short term floor for EUR is going to be. EUR/JPY is only a whiskers away from 120. It's going to be another long night for me.

Yes, this is getting real ugly. The bottom seems to have fallen out of JPY crosses. AUD is getting killed on carry trade liquidation.

All because

-US reported record foreclosure
-US reported record joblessness
-Greenspan saying he is shocked about US situation

Right. And that is why USD is getting strong. There is no end to this craziness?! What gives? Or possibly the markets don't like Obama's socialistic plan of "redistributing the wealth".