Euro and Cable Thoughts

[jacinto]

I tend to go for long bets on the GBPUSD. This is based on my personal view of the $ needing to fall to cope with it's twin defecits.

I would be interested in Forex players view of the $ for tomorrow, or the day after, or the following day, or next week, or next month, or next year might be.

hi atilla,

as you know from other threads, we tend to agree on the bucks need to weaken based on fundamentals.

the comment above is related to the china and japan comment. china in particular has such massive reserves now, that it is stuck with such incentives that it is now against its own interests to offload its dollars from a reserve management perspective. hence my comment.

however, i could not agree more with laptop on the imbalance question.

anyway, i'd rather trade what the chart says than what my economic analysis tells me :cheesy:

j

 

[JULIEROSE]

Julierose,

It is difficult to predict the exact direction for the next week, the Eur/usd, and the Gbp/usd was moving opposite direction. As i can see it is better to buy Eur/Gbp( because it startad to rise from the 1-2 year bottom 0.6700.), than to enter a Gbp/usd position.

Do you trade only the Gbp/Usd?
Because there are a lot of other good trades out there on different pairs.

this is true none of us know what will happen this week or next we can't pretict anything just trade with the market and let it tell what it is doing and watch for signals.

In answer to your question I trade GBP/USD the most and also the EUR/US.D. Sometimes not often though I trade the other pairs, usually if I cannot find a trade on the others mentioned beforehand. I trade every day several times a day so when I look at the charts and trends it is usually for that day/ morning/afternoon/hour ect so I'm usually only ever in a trade for a hours/minutes.

 

[geldmeister]

There’s a possibility of a longer term setup for cable today, will be looking to build a short position 1.9780/9830. Should at least get a retest of the broken channel with the possibility of some free rides for the deeper targets of the Wolfe.

 

[JULIEROSE]

It's currently sitting around 197.50 tonight not much trading going on. I longed it late this afternoon at 197.20 it is currently trading just over 197.50 I've taken my profits as it is just sitting there & it's 10:45pm and I don't want to hold it overnight.

 

[jacinto]

There’s a possibility of a longer term setup for cable today, will be looking to build a short position 1.9780/9830. Should at least get a retest of the broken channel with the possibility of some free rides for the deeper targets of the Wolfe.

hi geldmeister, nice chart.

already surfing that one myself from 40.

didnt know you were a coyote wave follower yourself.

j

 

[geldmeister]

Jacinto,

Thanks, WW’s are one of the patterns I like to follow, but like today, I like to enter the bulk of my orders along that channel formed from the 2-4 line. Much better risk ratios but more times than not they go unfilled. I feel like the guy standing in the train station watching the train pull out with my luggage onboard.

Must say that my definition of this pattern is probably not text book .

Time to start looking again.

Cheers!

 

[geldmeister]

Price is back at the channel bottom and should find some support here for a time.

 

[JULIEROSE]

GBP/USD leading the way and testing channel support after the sharp reversal from 1.9750. Trendline support comes in at 1.9585/95 and targets initial losses to 1.9550/60, but points to a larger decline to 1.9300-50 on the drop back into consolidation channel.

 

[JULIEROSE]

Dollar is set to rally now.
Putting in perspective yesterday saw the euro/usd rally out of of a bull flag it has since failed and reversed back to into the bull flag. Once below 131.40/60 level should go back to 129.20/50.

 

[marste100]

this is true none of us know what will happen this week or next we can't pretict anything just trade with the market and let it tell what it is doing and watch for signals.

In answer to your question I trade GBP/USD the most and also the EUR/US.D. Sometimes not often though I trade the other pairs, usually if I cannot find a trade on the others mentioned beforehand. I trade every day several times a day so when I look at the charts and trends it is usually for that day/ morning/afternoon/hour ect so I'm usually only ever in a trade for a hours/minutes.

hy,

your thoughts seems to be right, the eur/usd, contunied to weaken.
yesterday we got some very good data for the dollar.
It also broke out from the trend channel, so it may continue to fall in january.

However if you are in a time, that can 't find a good signal, in this 2 pair, i highly recommend to take a look at the nzd-jpy, and aud-jpy, I made about 60, and 70 pips on them just on friday.