Discuss EUR/USD News with a DailyFX Analyst - Page 1373 - DailyFX Forex Forum

asherewt · #**20581** (**permalink**) 07-08-2009, 06:09 AM

Kumo is acting as strong Resistance, take care if considering Long Positions.

Lets see if E/U can break the Cloud to make its way up ...

Quote:

Originally Posted by asherewt

I'm out

Will wait for short trade now. Took profits at 1.3926

Happy trading and good luck.

melbgirl · #**20582** (**permalink**) 07-08-2009, 07:58 AM

I wonder how the start of the earnings season is going to affect the market, but for now it seems like oil is tanking and that might set the tone for today's trading. We have seen a number of days with lower highs and lows too. I am hoping for a 1.6000 test for cable but as EUR off the lows and EUR/JPY got a bit oversold, it might carve out a base later on.

maxplank · #**20583** (**permalink**) 07-08-2009, 08:06 AM

things rising a little bit now. im sittin on a 25pip gain off the aud bottom. should i take it? whats the catalyst. "FORECASTS: IMF raises its 2010 global growth outlook from 1.9% projected in April to 2.5%" perhaps.

these imf forecasts are meaningless to me, i guess not to others though....pfft

asherewt · #**20584** (**permalink**) 07-08-2009, 08:10 AM

Quite important Melbgirl,

The futures are quite stressed out right now, DJIA showing a really bad outlook for today's trade, however the IMF's report has just been released in last 10 minutes which will be made public to the media by Italy's prime ministre shortly. It basically says that the Recession might have bottomed but the recovery is going to be quite sluggish.

USD on the other hand has had a benefit since the Chinese PM had to cancel his visit for G8 Summit and go back to China because of unrest in its south-western states. Should he have been at the summit, China would have pushed for an idea of an alternative currency to USD and it would have been backed strongly by India and EU.

Earnings have just started flowing in, lets see how they setup the mood for not only today but for the rest of the month of July ...

Quote:

Originally Posted by melbgirl

I wonder how the start of the earnings season is going to affect the market, but for now it seems like oil is tanking and that might set the tone for today's trading. We have seen a number of days with lower highs and lows too. I am hoping for a 1.6000 test for cable but as EUR off the lows and EUR/JPY got a bit oversold, it might carve out a base later on.

neller · #**20585** (**permalink**) 07-08-2009, 08:22 AM

i dont know where the market is heading thinking up but just wish that it can get a little live into it

adam6655nyc · #**20586** (**permalink**) 07-08-2009, 08:27 AM

Quote:

Originally Posted by asherewt

I'm already in

The long red candle during last hour or so hasnt scared me so far ...

enjoy your profit ... well deserved

adam6655nyc · #**20587** (**permalink**) 07-08-2009, 08:34 AM

Quote:

Originally Posted by maxplank

things rising a little bit now. im sittin on a 25pip gain off the aud bottom. should i take it? whats the catalyst. "FORECASTS: IMF raises its 2010 global growth outlook from 1.9% projected in April to 2.5%" perhaps.

these imf forecasts are meaningless to me, i guess not to others though....pfft

trail stop it and watch the GBP/usd and gbp/jpy....both are building a base...if the market moves higher...it was the most hit and the most bounce will be in them.

asherewt · #**20588** (**permalink**) 07-08-2009, 08:34 AM

Thanks Mate,

I've already closed the long positions at 1.9326 as explained in the chart earlier. Will wait for the price to get out of the Kumo cloud and then take a trade.

Quote:

Originally Posted by adam6655nyc

enjoy your profit ... well deserved

maxplank · #**20589** (**permalink**) 07-08-2009, 08:35 AM

Quote:

Originally Posted by adam6655nyc

trail stop it and watch the GBP/usd and gbp/jpy....both are building a base...if the market moves higher...it was the most hit and the most bounce will be in them.

ok merci beaucoup gratzi

asherewt · #**20590** (**permalink**) 07-08-2009, 08:37 AM

Tomorrow might be a really interesting day when Nikei opens as the Futures have just jumped back higher again after the IMF report and a possible (speculated) positive set of statements expected from the G8 later today.

Quote:

Originally Posted by adam6655nyc

trail stop it and watch the GBP/usd and gbp/jpy....both are building a base...if the market moves higher...it was the most hit and the most bounce will be in them.

vaibhavjain · #**20591** (**permalink**) 07-08-2009, 08:38 AM

Hello People,
Now that I have started picking up things in forex, I am very curious to know which are the best charting softwares (even if paid ones) that a professional trader will recommend which offers maximum scope for studies??
Right now, I have been picking charts from
Forex Charts
and then saving the image in MsPaint and then doing my analysis.
But of course, though useful to study patterns formed in the past, I am clueless how effective it could be if I have to make a trade based on the current situation?

So, please recommend me from where you people grab charts, then make your study &analysis, and find those exact points where to enter or exit??

Please give me your advise and support, so that I can hope to begin live trading by beginning of August.

Thank You
Vaibhav

maxplank · #**20592** (**permalink**) 07-08-2009, 08:44 AM

with the pos news on aud i jumped from euro to aud. here my current setup. see the tight stop!!

gonna watch it... hope it holds. ok never watched all that POUND stuff its such a tiny little country but if you say so ......

adam6655nyc · #**20593** (**permalink**) 07-08-2009, 08:45 AM

Quote:

Originally Posted by maxplank

ok merci beaucoup gratzi

you are actually on the right side ....just hang to your profit...the market will move up from here after better than expected reports from euro zone...aud last night news was impressive...and the IMF report today...one more piece and we are off to bounce back (oil report, and aa news this afternoon) if they positive....we will bounce back up just like we did last week....and the cycle repeats itself

for the AUD/USD watch the aud/jpy....its moving up and it will pull the aud/usd with it

TheSterlingBull · #**20594** (**permalink**) 07-08-2009, 08:47 AM

Quote:

Originally Posted by maxplank

with the pos news on aud i jumped from euro to aud. here my current setup. see the tight stop!!

gonna watch it... hope it holds. ok never watched all that POUND stuff its such a tiny little country but if you say so .....

.

nice chart, need some more lipstick for it?

maxplank · #**20595** (**permalink**) 07-08-2009, 08:51 AM

Quote:

Originally Posted by TheSterlingBull

nice chart, need some more lipstick for it?

ok i will make it prettier next time.

trying to shorten these snapshots so they dont spread the page so much. moving my limit little by little. know this not way to trade but cant resist.