EURUSD monthly

Trading Discussion Currencies
710

MT, a lot of right things you wrote, again. However, the ez is not like the US. Have you ever been in Europe, lately? Ppl have not as much rights, particularly under the rules of the new gigantic eu government. You might laught about it, but they forbid to sell light bulbs. Plus ppl are not aware what is going on. The press has it’s own role. In Greece they have a socialistic government, but in the other countries it’s not much better if it goes to politics/governments. And in Greece those revolts are just pity. Now, they have to realize that there is no spending without working. So far they profited from the richer countries, but they can’t continue with it.

So, as I said, I can imagine a dollar for two euros in the medium term (a decade) outlook. As I mentioned before, that’s the real value if you calculate the value in how far can you drive (how many miles) with an usd in the US or an euro in the EZ. But no default soon. That’s too early. And the countries in the EZ, even Greece, are still rich. Sure, they complain, but what do they complain for? That’s leading to nowhere. What you see in the press is also something pushed up for sensation.

Regarding the soviet union I did not have in mind the currency. I had in mind the economy. An economy with big inherent issues. And even that economy survived those more than 40 years. Systems, if you take political or money systems with a couple of hundred million people don’t collapse over night. That’s too big. Or look at the dollar for instance. It devalued almost 98% in the last 100 years against the real deal: Gold. Any revolts about that? No. People are not even aware of the issues. As long as they have their beer, the football club is playing not too bad and the fridge is not empty, people do a lot of things but going against their governments. Particularly in the EZ. Okay, substitute soccer for football, lol.

Sure, in the end we will see the truth. But then not just the truth of Greece or the eur. The whole financial system right now is a big casino. May I speak regarding bubbles? The largest bubble IS the fiat currency bubble. And if that bursts, not just the eur will default. I assure you those politicians know about the issues. And if this big event comes around, they just have to point the finger to this event and can say: See, it’s not the eur, it’s the investors who traded against it and let burst the bubble.

Anyways, until this will happen politicians will do whatever they can to back up the eur (or the usd in the US).

711

Now I know EWT charts are not so favorite, but everyone just had a bliss trading day, this once let me show where I think we’re at. I think once the pound stops going down then the Euro also will stop falling. Both to me seem to be in a primary-degree waves down, though while pound is at primary [5], Euro is at [3] and thus might be going further down when pound will be doing primary [B]. In short, Euro might scratch a lower bottom than pound percentage-wise almost getting ‘Totalled’, but that’s not going to be soon yet? It can be explained further but I leave it there, pictures might say the rest better?

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:44:
public main.classSideNote () args;
{
public class.LandMine
{Checkout PaxForex.com on their new bonus offer geared to punk newbs around some more. See their terms and conditions to understand - after one month they are gone with bonus profits plus deposits}
public super (future outlook)
{:43: “…we are now crossing live 1.1870 support-line after having tested it at las-week’s low, now watching 1.1450 hold or break…”}
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712

Not very often you see a 48 pip 5 minute candle without the Noob Funded Payout announcement being involved.

That’s gonna leave a mark on a few hedge funds somewhere.

713

1.4160 has been broken… I am short at 1.4142 TP 1.3850 SL 1.4325

714

Well, it can go down to 137ish levels if I look at the d/w charts. However, never say it can’t or it couldn’t (go up in this case). Those are the most expensive words in the world, lol. :smiley:

MT, that is a rather lame duck. I’ve seen hundred pips in less than 9 seconds, lol.

715

I’m out of EU at present but my next move will be a long… in the not to distant future… will let you know. :slight_smile:

716

Very muted downside to E/U after that dismal Philly Fed - recovered all the losses already. Wondering if we’re going to see a nasty little short squeeze if pushes past 1.4160.

717

I am sure it will, big players will go stop hunting.

718

“Distant” spoken in months? Well I am in already for a few free pippipettes. Those bull wedges seldom fail. And then I confess I do love to pick those bottoms, lol. And then what about that toaster? Every night I dream now about toasters and if I buy one everything is fine, lol. :smiley:

719

Not without news… That was what I meant. Just a random big move isn’t all that frequent.

As for trading, didn’t do much last night, but nabbed 40 on the EU in a buy this morning. I’m flat at the moment.

But that’s okay. Between the gains earlier this week, and and awesome last week, it’s been stellar:D

Can’t expect moves like the last few days all the time. Just gotta be ready for them when they show up.

720

Was going to answer your previous question on that BC but it looks like you’ve finally got the joke? LOL!! On the 4h looks like the indecision candle Next 4h could be the long signal?

721

MT, sorry my bad regarding the not news spike. That’s right. And congrats because your profits! :slight_smile:

Well, I made some loss and some profit by hand, so I am more or less at the same point as last week, lol. However, I just do it to learn right now a little more and I like to do it with real money.

RC, I go long in toasters now. LOL!

edit: If I look at the drop from 142 it looks a little like stop hunting.

722

Is this Greece protesting??

Oh no, my bad…

just the Canucks’ fans…

723

You see? That’s the reaction if the favorite sport team sucks. You can devalue the money 98% and nothing happens, but if that team sucks, everything goes wild … :smiley:

724

Canadians should ask good ol Lukashenka for help. Belarusians lost half of their money but he got that under control so much better than Canadians. He also could help solve Greece problems with his “keep the sucker down” methodology.

725

Only two of three triggers got the green light but long off 1.4145. Swing low initial SL but will trail it manually. First area of concern 1.4278.

726

(Dow Jones) A currency sales executive at a New York branch of a foreign bank says clients there are ready to get out of the euro, but for now they tread water ahead of the weekend. “People don’t want to push it,” especially with so much headline risk surrounding Greece. As the euro has notched new lows, the exec says some clients are cashing out of their short-euro positions, or at least scaling them back. If no progress on Greece comes by Sunday night, the banker says look for a sharp euro selloff Monday. “People are really going to try to [B]hammer[/B] it.”

I see a hammer at the daily forming. That together with this press BS is your third green light, lol. :smiley:

727

Yeah, I don’t see it much past 1.43 to be honest! But well see… in any event I’ll not hold over the weekend. Third green light should show up by NY close (next 4h candle).

728

RC, and I’m watching the pp with hawk eyes, if it should break the resistance there at this shoulder. :wink:

729

On top of the short covering before the weekend it’s also Quadruple Witching day tomorrow. Might make for some funny price action.