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Thread: EUR.USD

  1. #1
    action-reaction arco's Avatar
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    Default EUR.USD


    One of my daily systems has triggered a
    short on the Eur.Usd (Weekly is already short).
    I would prefer to see dual day confirmation,
    however there is often a decent at least
    a decent day trade available from this signal.

    Please note. My intention is not to offer any form of investment or trading advice whatsoever. The system I have detailed above could easily fail miserably at any point. If you choose to follow this system be aware that you do so entirely at your own risk and that I cannot be held responsible for any losses incurred.

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  2. #2
    action-reaction arco's Avatar
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    The short signal gave great day trading opps for
    about 3 days with an overall spread of 150 pts.
    Waiting now for a new signal - possibly long.



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  3. #3
    action-reaction arco's Avatar
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    There is some stubborn support holding
    EUR up and overnight action has created a double bottom
    on that fib line. I went short overnight @1899 for a current
    88 pips, and watching now to see if a break below will occur.
    If that area gives, my next target would be 1577
    Directional dates 19th and 26th May.







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  4. #4
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    The support appears to be holding printing a Double bottom on the fib zone and historical uptrend line together with a bullish divergence on RSI. This may indicate the downward phase could be about over.

    Short stopped Friday night for a profit of 18 pips.







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  5. #5
    action-reaction arco's Avatar
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    Nice move yesterday of around 180 pips for anyone who took the initiative.

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  6. #6
    action-reaction arco's Avatar
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    Moving along nicely with a pip profit so far
    of circa 220 pips for medium term holders,
    and still more to come IMO.



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  7. #7
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    Updating chart after a nice north bound run with maximum of 694 pips.





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  8. #8
    action-reaction arco's Avatar
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    Hello darkness my old friend,
    I've come to talk with you again.




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  9. #9
    Legend peat's Avatar
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    yeh the employment figures sparked the trend off to a big one yesterday huh.
    managed to have a couple of deals open to ride it

  10. #10
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    Hi. I was wondering if anyone knows where I can download EOD currency data for the NZD/USD for importing into Metastock. Currently use free data feeds from Yahoo for stock EOD data.
    The trend is your friend.

  11. #11
    action-reaction arco's Avatar
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  12. #12
    Member skinny's Avatar
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    Hey arco whats your angle on the EUR.USD now? Last few days it seems 1.3 is a real barrier - hovering at 1.2992 on the screen now.

    Certainly making the politicos here in Europe nervous and I see Snow is trying to stem the rise (article below) but I get the feeling if it breaks 1.3 it will keep on going...

    http://quote.bloomberg.com/apps/news...SMI&refer=home

  13. #13
    Member skinny's Avatar
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    Lol, there she goes, now 1.304 and another record high against the USD. Another interpretation of Snow's comments attached

    http://quote.bloomberg.com/apps/news...fjQ&refer=home


  14. #14
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    USD/JPY went south first.

    Cheers
    Miner

  15. #15
    action-reaction arco's Avatar
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    quote:Hey arco whats your angle on the EUR.USD now?
    Skinny
    There is a bearish divergence showing at the moment, so there
    is the possibility of a retracement in the near future IMO.
    I will try to post a chart later after I receive EOD data.
    Arco



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  16. #16
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    Chart as promised.

    Could we be seeing the final moves to a
    high followed by a multi-month fall?

    Major resistance above around 1.3125/56





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  17. #17
    Member skinny's Avatar
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    Cheers Arco, just trying to figure the best point to convert a bunch of euros into USDs - sent a bit through yesterday, holding off on most to see if it does get another leg up. I've read some currency strategists think 1.40 is on the cards, but from an economic point of view I'd say the longer term correction back you mention is the better 'fundamentally' justified scenario.

  18. #18
    action-reaction arco's Avatar
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    Nice down move of max 131 pips
    creating a Dark Cloud Cover.

    That move and candle breaks a fib support and is
    bearish at least in the short term.



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  19. #19
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    Its pretty much like predicting which way water will flow over the last few days. Hope you held off with some of those Euros , Skinny.

    If the USD was a stock I'd sure hate to be the CFO about now.

    So in your opinion over the next decade or so which currency if any is most likely to re-position itself as the possible successor to the mighty $$$? Its hard to imagine anything even the Euro competing at the moment but...
    Gold's an option I spose.
    hmmm
    just moved over 100 pips in a couple of hours!
    its getting more volatile[8]

  20. #20
    Member skinny's Avatar
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    Hi Peat yeah I'm holding off for now. The ECB must be getting pretty nervous I reckon through - IMO we'll see some grumbling soon and I wouldn't rule out an intervention if it goes much above 1.35...

    As for the reserve currency question I remain unconvinced there is any alternative to the USD, for the next decade anyway. It looks bad for the US now but we shouldn't forget the fact there have been larger falls in the USD in the past (early 80s). In addition, despite the current a/c and fiscal imbalances the US remains a more dynamic economy than Europe, whose growth potential is hamstrung by inflexible markets and a far worse ageing problem than the US.

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