Discuss EUR/USD News with a DailyFX Analyst - Page 1018

abro · #**15256** (**permalink**) 05-12-2009, 12:31 AM

but dollar bull if the stubborn euro gbp kept on rising then what ? and this time euro made a higher low . so there is a chance for the euro to go up to 13750 . but lets wait and watch . and if the euro was flat on its highs then there could be a big fall expected . but the euro retraced already . so i think it will go up .( well currently its flat )

DollarBull · #**15257** (**permalink**) 05-12-2009, 12:47 AM

Quote:

Originally Posted by abro

but dollar bull if the stubborn euro gbp kept on rising then what ? and this time euro made a higher low . so there is a chance for the euro to go up to 13750 . but lets wait and watch . and if the euro was flat on its highs then there could be a big fall expected . but the euro retraced already . so i think it will go up .( well currently its flat )

I am really poor in prediction skills. Any direct correlation between EUR and GBP occurs from general USD strength or weakness and not between themselves. Inverse correlation occurs when USD does not play a part in picking a direction.

I think GM may file bankruptcy and that could elevate risk aversion, US stock market pullback and hence weakening of EUR, GBP, NZD, AUD pairs. Markets do not like uncertainties and risk aversion dominates during those times.

abro · #**15258** (**permalink**) 05-12-2009, 12:48 AM

Quote:

Originally Posted by rickos69

Taking the direct approach, and shorting the pair. It's the only pair that I can honestly say I have never lost money on. It's so predictable, and forgiving.

Well, lookee here...speak of the devil

23:09 GBP: Firms Slightly After Improved RICS Housing Data Sydney, May 12: RICS data released a few minutes ago showed that UK house prices declined at the slowest pace in 15 months and new buyer inquiries rose at the fastest pace in 10 years. The RICS monthly house price balance came in at minus 59.9 in April from minus 72.1 in March.
The GBP/USD moved up to 1.5143 from 1.5100 at one stage, but that was mostly due to broad USD weakness after the EUR/USD bounced from 1.3570. The EUR/GBP moved a few pips lower after the RICS data, trading at 0.8977 from the opening level at 0.8982. The GBP/USD trades 1.5127/32.

More...

23:42 GBP: BRC Sales Data Also Positive, Apr +4.6% y/y, Total +6.3% Tokyo, May 11. In conjunction with the RICS data released at about the same time, BRC like- for-like retail sales data for April was very positive with a rise of 4.6% y/y recorded. Total sales also rose 6.3% y/y for the biggest rises in these two series since April "06. According to the BRC, distortions caused by the timing of Easter and the weather may have played a part, and May data will have be seen before a better trend can be ascertained, but the data is strong nevertheless and may dispel some of the negative news on the UK out recently. GBP/USD is trading 1.5133/38, near the top of the 1.5098-1.5143 range established earlier today. GBP/JPOY trades 147.65/75, at the top of the range seen this morning after having risen from the 147.15 level but still not far from the 146.80 lows seen last night.

u always like to short the pair well its ur own approach . but in a flat trend shorting at resistance and buying at support is a wise advise . it has to break either way !

Uturn · #**15259** (**permalink**) 05-12-2009, 01:23 AM

W Basing Pattern above April High 1.3582
Indicator Pattern Confirmation
UHMA Supporting
HMA Spiked and Supporting
Respected 1.3570 [Fib 23.6% Retrace]
Long@1.3598
Stop 1@ 1.3563
Stop 2@ 1.3607 [No Loss Position]
[Limit@1.3700]
Estimated Trade Duration 6 to 8 Hrs
[London 12.00pm - 2pm max]

Long position was closed @1.3667
Pip Count: +69

Cheers, Uturn

abro · #**15260** (**permalink**) 05-12-2009, 01:37 AM

euro made a new high incomapred to 1.3615 .

CreativeSilence · #**15261** (**permalink**) 05-12-2009, 03:11 AM

Quote:

Originally Posted by Uturn

W Basing Pattern above April High 1.3582
Indicator Pattern Confirmation
UHMA Supporting
HMA Spiked and Supporting
Respected 1.3570 [Fib 23.6% Retrace]
Long@1.3598
Stop 1@1.3563
Stop 2@*****[No Loss Position]
Limit@1.3700
Estimated Trade Duration 6 to 8 Hrs
[London 12.00pm - 2pm max]
Pip Count:

Cheers, Uturn

1.365 is the highest I assume it will go(Yearly Resistance).
I'm Selling again Long at 1.362, with a 50 pip stop loss

MFSFOREX · #**15262** (**permalink**) 05-12-2009, 03:41 AM

Hope you do take a look at our chart last saturday

Earlier we been discuss to SHORT EUR/USD around 137 which is close on friday.

The price currently at 136.41. The pair has move up a little, however the TREND still BEARISH, if it break 136.26, should heading to 135.50. 135 would be the target price.

I already close up the pair, but let see if it actually further down

Hope you enjoy roughly 100 pips on shorting, I think the pair should fall further before it can make a U turn.

abro · #**15263** (**permalink**) 05-12-2009, 03:54 AM

Quote:

Originally Posted by MFSFOREX

Hope you do take a look at our chart last saturday

Earlier we been discuss to SHORT EUR/USD around 137 which is close on friday.

The price currently at 136.41. The pair has move up a little, however the TREND still BEARISH, if it break 136.26, should heading to 135.50. 135 would be the target price.

I already close up the pair, but let see if it actually further down

Hope you enjoy roughly 100 pips on shorting, I think the pair should fall further before it can make a U turn.

. why do u think the trend is bearish ? and besides what if it makes a new high ?

i just dont get it the euro keeps on rising and people keep on making it bearish !!!!!

if i had enough capital i would had bet 100 dollars per pip on such break outs !!

DollarBull · #**15264** (**permalink**) 05-12-2009, 03:55 AM

I predict EUR, GBP, AUD, NZD and their JPY crosses to pullback substantially in the next days/2weeks.

In particular EUR, EURJPY, NZDJPY are classic candidates for a short. 300 pips at least.

I will keep a grain of salt ready, just in case I go wrong, as usual!

cmellon · #**15265** (**permalink**) 05-12-2009, 04:14 AM

Quote:

Originally Posted by DollarBull

I predict EUR, GBP, AUD, NZD and their JPY crosses to pullback substantially in the next days/2weeks.

In particular EUR, EURJPY, NZDJPY are classic candidates for a short. 300 pips at least.

I will keep a grain of salt ready, just in case I go wrong, as usual!

Haha... DB, if I remember what you said before correctly, then I should go long and expect a 300 pips rally at least

abro · #**15266** (**permalink**) 05-12-2009, 04:17 AM

Quote:

Originally Posted by cmellon

Haha... DB, if I remember what you said before correctly, then I should go long and expect a 300 pips rally at least

ahahah nice 1 cmellon . yeah he said that if u pickk trades opposite of his then we can win 100% .lol

euro made a new high . hurrayeeeeeeeeeee

DollarBull · #**15267** (**permalink**) 05-12-2009, 04:26 AM

Quote:

Originally Posted by cmellon

Haha... DB, if I remember what you said before correctly, then I should go long and expect a 300 pips rally at least

you could have made at least 50 pips in 10 minutes by going long in EURJPY!! (I posted at 132.94 and it went to 133.62)!

I will be right in the long term but short term trends are always against me

just to kill my predictions and stoplosses!

cmellon · #**15268** (**permalink**) 05-12-2009, 04:27 AM

Quote:

Originally Posted by DollarBull

you could have made at least 50 pips in 10 minutes by going long in EURJPY!! (I posted at 132.94 and it went to 133.62)!

I will be right in the long term but short term trends are always against me

just to kill my predictions and stoplosses!

I am just kidding DB. Don't worry, if it happens ALL THE TIME, then all you need to do is just take trade the opposite of what you think will happen. That will betray your brain and feeling, but hey... as long as you make money, that's okay

DollarBull · #**15269** (**permalink**) 05-12-2009, 04:32 AM

Quote:

Originally Posted by cmellon

I am just kidding DB. Don't worry, if it happens ALL THE TIME, then all you need to do is just take trade the opposite of what you think will happen. That will betray your brain and feeling, but hey... as long as you make money, that's okay

I will make money with my own brokerage - guaranteed pips

I know what problem I have - not enough margin to accommodate 50 pip stoplosses. My stoplosses are always around 20 pips. I never keep more than $1K in my brokerage (you never know when they will fold and vanish) and that doesn't give breathing room to take unrealized losses for days at a stretch.

abro · #**15270** (**permalink**) 05-12-2009, 04:41 AM

Quote:

Originally Posted by DollarBull

I will make money with my own brokerage - guaranteed pips

I know what problem I have - not enough margin to accommodate 50 pip stoplosses. My stoplosses are always around 20 pips. I never keep more than $1K in my brokerage (you never know when they will fold and vanish) and that doesn't give breathing room to take unrealized losses for days at a stretch.

why dont u trade in micro account ? if u keep 20 pip stop losses then u must learn scalping in demo .