EUR.USD

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quote:Originally posted by Xerof


BTW, TRL's just lowered his sights - sell at market.....with tight stop....

the 2200 target discarded unceremoniously.

Danes retained their short stance, having a stop at 23.

"Me? I'm just a lawnmower , you can tell me by the way I walk"

apologies for the random Genesis quote

[arco]

Nice move with upto 125 pips available from previous ideas.
Gann calcs proving their worth.........

arco

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had a limit sell in at 1.1796 overnight which just got hit before plummeting, currently +60. Looking at the candles I really wouldnt have expected it to be taken. The daily high is that exact number. Not often things go that way.

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out for the weekend at 1715 from 1806 +91
tho lost 60 pips really quickly in that upspike on the 23rd dammmmm
it aint easy.

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Lone Olesen : Jyske Bank

Snow is starting to fall, as winter closes in on us. The same
more or less goes for the currency market. Market participants
are beginning to mentally "slow down" (more than usual), and
sayings that "volatility is going to fall further, as markets are
going to slow down, as December advances!"are doing the
rounds. I strongly warn against listening to this. Instead I
foresee another generally unexpected jump higher in the USD.
Right now many are awaiting rate increases in Euroland, and a
coming slow down of the Amerian rate hike cycle. You be
aware though that these expectation are already priced into the
market now. They are in other words "Schnee von Gestern".
Should our friend Mr. Trichet - who is under severe political
pressure not to hike - "stumble" at this week's policy meeting
in Frankfurt, either by not delivering the expected rate increase,
or by playing down the effect of an actual rate increase, market
response could be very detri-mental to the EUR in general. The
dollar on the other hand has taken a hit as market is slowing
down its expectations as to the hawkishness of the FED in 2006,
and nevertheless the dollar has succeeded in gaining a footing
again. EUR/USD is right now starting to slide through 117 with
eyes set at a decisive test of 116.40 anew. This time around the
old bottom is going to break and open up for new lower levels,
which would be a major surprise to many market participants
who have been bottompicking the last week or so.

[arco]

Thanks Peat

Jyse bank quote .........EUR/USD is right now starting to slide through 117 with eyes set at a decisive test of 116.40 anew.

An excellent contra indicator from Jyse in the short term.

arco

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yeh it didnt pan out exactly huh

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the question is has direction changed overall tho. Max doesnt think so while 1900 contains...

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i've hedged my EUr short with a USD/CHF short for a while..... maybe until Eur = 1840ish.... or CHF = 3070ish

[arco]

Here's that billious chart again that I posted on Khalsapad forum one month ago.

...........it was a long and winding road but today we have arrived at that calculated Gann coordinate for circa 300 pips.