They sure are - quite a discrepancy between those and the ADP numbers yesterday. NFP previous month revisions marked down further. Unemployment rate going up even though loads of people are being removed from the unemployment calculations now that they’ve been out of work for so long. Pretty ugly all around. Futures getting beaten down too now.
Good for fading the initial E/U dip and going long though. Just closed out there for +100 pips after I got filled at 1.4232. Turned out to be a pretty good week in the end Would maybe make for an interesting short now if risk goes well and truly off into the weekend but I’m not risking it.
I made some 20+ pips and lost 10 with a xau short, lol. That’s how it goes if I trade against my rules to never short xau, ha ha.
Well, I do not know if the bottom is really found now. Despite those really ugly nfp data second time in a row eurusd still isn’t rocket to da moon, but it got stopped at the ever lovely pp. So, bears are still strong. I’ll wait and watch.
I like to look at a 1 hour chart during news to see if we get a multibar move, this news, while bad, did not garner much of a reaction. Maybe everyone already figured it would be bad. Whatever the case, it was not enough to bring any volume in. We got more volume with the Portuguese downgrade than this. I see no clarity apart from trading ranges, long term I am keeping the powder dry and the flint sharp.
Thanks for the reply, very informative and appreciated…waited and waited for somebody’s input in a couple of forums but no joy yesterday…ended up jumping in at 14353 and scooped a 104 pips this afternoon…hope you kept the short as it looks like the dollar got smashed in today’s trading…a sea of red for dollar pairs across my currency watchlist…Ill post my up-coming trades on Sunday night if your interested…I’m off for a Cold beer, have a good weekend all!!
Nice win for you there then. I didn’t go in for the short. Figured I’d used up my slice of good fortune with the long and wouldn’t push it. Regretting it now - should’ve entered a little rider into the race! Hey ho… on to next week instead.
My trade went in at 1412… with a tight stop. Looks like it could hold. We’ll see.
Til H4 stable bearish now and strongly oversold. Rest unchanged. Eur on H4/1 is the loser of the (weekend? lol!). So, it’s a bargain buy. Not saying it could not become an even better bargain, lol. But that would change the overall picture a bit …
Well, around -20 pips with this trade. However, it was planned last week already as the last resort entry and so I feel good with that loss. Now it looks like the triangle has left to the downside. It needs at minimum a daily confirmation, but … 13970 and then 138xx comes into sight …
I also had to settled for about 30 pip loss from last week long trades… now i am on the side lines and waiting for retraces near 100 sma to short the pair…
It’s days like this it’s so much better to be a retail trader. Can only imagine the carnage on the trading floors and forex exchanges today, people getting carried out feet first with all the pandemonium going on.
What do we have today? Ok, the triangle is broken to the downside. Daily chart bulls are even weaker, rest almost unchanged. Todays bulls are at work however. I guess because of the weekly tl which hovers right now at around 13770. Got not even touched.
The usdx broke a major trendline. Almost everything else in the red like yesterday.
Well, I’m going to check some other strats which I have in mind in bot backtests now.
Hello all, my sources tell me that Italy has been weighing on the minds of the Euro Overlords, Duuuuuh! Its funny, with all the carnage in the USA, the dollar is still a flight to safety. I think that the Euro is in worse shape than most think, there is only one truly stable economy in the Euro zone and that is Germany “Deutchland Uber Alles”. They a pressuring the rest to get their houses in order before giving away more money. Greece, Italy, Portugal and Ireland remind me of the Paris Hilton’s and August Busch’s of the world, “Hey Daddy, I just blew out my trust fund, give me more money”, I think the big question is whether or not the PIISs can get a grip on their citizens and spending to make meaningful changes.
Yep. There is just the question now if that tl holds. Because there is a lot of bearish pressure right now and facts are there that it didn’t break major resistance levels since that top there this year. Frankly, I am doing better now to produce more money machines aka bots than trading that ultra high vola, lol.
Hi Viper, even Germany is not that good as it was 30 years ago. Taxes are too high to let it become really an economy engine and socialism grows everywhere. The best value for money right now you may get is buying xau and some other common commodities. Statistics are tuned everywhere and if you look at xau prices it is just a runaway direction now: up. No matter if in $ or €.
In Italy an espresso charged for 1000 Lira the days when they had their own currency 12 years ago. How would that really nice Italy (a nice vacation country) become a country with less corruption and socialism if it is the birth place of the mafia? Well, I’m not saying it will default soon, but in the long run as I mentioned the eur is doomed to be less value than even the $. Then, despite the fact it made it at the usd index to almost 76 points, I wouldn’t save any cent in this currency. It is worth now just 83 rappen, which is the word for “cents” in Switzerland. The only reason to hold $ is to pay with it or speculate with it (having a dollar account).
Would maybe make for an interesting short now if risk goes well and truly off into the weekend but I’m not risking it.