Thread: GBP and JPY Pairs H1 2013

I have shorted Eur at 14198 for some scalp action
T2 14186
T3 14174
T4 14153

Stops moved to plus 1... Possiblility to hit T2 and T3 high but T4 maybe a no go.

AUD/USD and EUR/JPY moved up lock step with EUR/USD as they have positive correlation while USD/CHF and USD/JPY moved down as they are negatively correlated vs EUR/USD. market is behaving normally and not being manipulated. what is all these talk of manipulation, is it manipulation if the market goes against you

Originally Posted by cw1

I have shorted Eur at 14198 for some scalp action
T2 14186
T3 14174
T4 14153

Stops moved to plus 1... Possiblility to hit T2 and T3 high but T4 maybe a no go.

Look like a good entry point to me! Ever the Optimist, I wonder why you did not add a T5 and T6?
Go get Em Brother!

getting that itchy feeling so either I'm about to drive into the market or I need to see a doc. Can't tell yet

Originally Posted by bill2759

Look like a good entry point to me! Ever the Optimist, I wonder why you did not add a T5 and T6?
Go get Em Brother!

lol. Thanks Bill......

Originally Posted by cw1

lol. Thanks Bill......

Hi CW
Im short again at 1.42 . This summit might end up being a disappointment for the euro bulls. I think we can take it as a given that they will renew the EFSF past 2013, but there really is no quick easy solution to any of these problems

Wait a minute. Portugal gets a ratings cut and the EU Summit states they are postponing dealing with portugal until after the summit and we see a net 10 pip drop. Me thinks somebody is propping up the currency. Either that or I completely don't understand basic economics any longer

You'll hear no cries of Market manipulation from me. Still that 25 pip drop in a matter of seconds at 12:20 est kinda makes me wonder if somebody wasn't stop hunting. Besides a lot of cash was needed to move the market that much in so short a time frame.
La De Da De Da!

BULLET: PORTUGAL: Fitch downgrade of Portugal reflects risks.
24-Mar-2011
PORTUGAL: Fitch downgrade of Portugal reflects "increased risks to policy implementation and fiscal financing in light of the Portuguese
parliament's failure to pass fiscal consolidation measures and the resignation of the Prime Minister on 23 March," says Douglas Renwick,
Director in Fitch's Sovereign group.

Originally Posted by cw1

I have shorted Eur at 14198 for some scalp action
T2 14186
T3 14174
T4 14153

Stops moved to plus 1... Possiblility to hit T2 and T3 high but T4 maybe a no go.

T2 AND T3 tgts hit and last posi was stopped out for 1 pip.......Typical...But good profits in another one of those wierd days for the euro !!

Originally Posted by bill2759

You'll hear no cries of Market manipulation from me. Still that 25 pip drop in a matter of seconds at 12:20 est kinda makes me wonder if somebody wasn't stop hunting. Besides a lot of cash was needed to move the market that much in so short a time frame.
La De Da De Da!

Then we are all insane. Euro spiking 30-40 pips after a downgrade, given everything else to boot on top of it. It's not just a Portugal downgrade, it's port in addtion to Ireland, poor eco news, additional debt issue. Just not sure about this area of the market any longer. This defies any realm of reason.

Originally Posted by stkelrey

Then we are all insane. Euro spiking 30-40 pips after a downgrade, given everything else to boot on top of it. It's not just a Portugal downgrade, it's port in addtion to Ireland, poor eco news, additional debt issue. Just not sure about this area of the market any longer. This defies any realm of reason.

A forty pip pop in 15mins, you can't get an argument from me either. Stryke caught a nice short from the pop. Both legs up are equal, possible zig-zag, A=C. Like I said, if the dove makes his presence, then where is resistance?

John Kicklighter
Ha! And an article blurb I see says markets rally because confidence is bolstered that bailouts will end with Portugal. Ludicrous.

Here you go, a rumor. Add that with GBP sell off, E/G blast off.......

Originally Posted by stkelrey

Then we are all insane. Euro spiking 30-40 pips after a downgrade, given everything else to boot on top of it. It's not just a Portugal downgrade, it's port in addtion to Ireland, poor eco news, additional debt issue. Just not sure about this area of the market any longer. This defies any realm of reason.

We don't really what is going on behind closed doors at the summit, but there are probably all types of rumors about leaks circulating in the news. This is part of the reason why you get these sharp moves for no apparent logical reason

Originally Posted by Mary R

Hi CW
Im short again at 1.42 . This summit might end up being a disappointment for the euro bulls. I think we can take it as a given that they will renew the EFSF past 2013, but there really is no quick easy solution to any of these problems

i agree,,,but the currency is popping about here again.....14200 seems resistive... its difficult tradign against a summit but we will see

EUR/USD n GBP/USD both moving in total opposite direction, check out price overlay for these two pairs, currencey correlation changed for both of the pairs??