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by Ashraf Laidi
Posted: Jan 5, 2010 18:55
Comments: 279
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More Euro Losses Ahead

More losses in the euro are seen ahead despite rallying oil prices.
 
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fxtrader8
California, United States
Posts: 13
15 years ago
Jan 25, 2010 1:54
Looking at the Euro/USD from the eyes of Elliott Wave structure the move from 1.4600 looks to be in a 4th wave consolidation at the moment -- so we should see a 5th wave move down to 1.3950 in the short term - (Hopefully by tomorrow), then we could see a correction before the next leg down begins. Should be a crazy week with FOMC and all the other data.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jan 25, 2010 1:16
mck, the downside for the eurusd towards 1.38 and 1.27 is still intact and the REST IS JUST NOISE. I spoke about 1.4270 resistance on Friday and we never got over it. we may see a stocks rebound on Monday in US until fresh selling ensues ahead of the data-event packed week. and so we may retry 1.4015 and 1.3970.

Ashraf
mckinnovation
Dublin, Ireland
Posts: 49
15 years ago
Jan 24, 2010 19:05
Ashraf,

Do you see any potential major moves on eurusd this week? - assume you still stick with Your 1.3800 med. Tyx for Your. Opinion.
montmorency
Abingdon, UK
Posts: 610
15 years ago
Jan 22, 2010 20:10
Rkkashmir: Not sure what country you are in. Spread-Betting is a relatively low-entry-level cost, high-leverage way of doing it in the UK and some other mainland European countries. Not available in the USA, and probably not outside Europe though (but I may be wrong). Not everyone in the trading world approves of spread-betting, but I know some professional traders who use it exclusively. It's the only way I have ever traded (not that that in itself is any kind of recommendation.......I am still relatively new at this business, which is, by the way, much tougher than it appears at the outset, which is why we need all the help we can get, and why Ashraf plays such a unique part.
rkkashmir
Posted Anonymously
15 years ago
Jan 22, 2010 19:58
@mont-I use an FX trading platforms for higher-leverage trading.

I would like to also trade currencies for $$ I have in a stock account. It appears to me the "cuurencyshares" fx etfs all trade 1:1. Is there another instrument available that perhaps ups the leverage of these which trades on the equity market platforms?
montmorency
Abingdon, UK
Posts: 610
15 years ago
Jan 22, 2010 19:48
@Rkkashmir: Yes, pretty cool analysis on CNBC. Ashraf sets the bar high for others to try to follow.


Leverage? Thought you were a low-leverage kind of guy :-) (Maybe I am confusing you with someone else in this respect). It's certainly a 2-edged weapon, as we all find out, sooner or later. My 2nd full year of trading, and I am still tempted to over-leverage, and overtrade, both potentially fatal mistakes.
I can see why even successful traders (more successful than me) "blow up" all the time.
rkkashmir
Posted Anonymously
15 years ago
Jan 22, 2010 19:32
Thank you so much Ashraf. Found them all.

Are there any "leveraged" ways to play eur and gbp on the NYSE - more leveraged than fxe and fxb?

You were great on CNBC Euro. They should give you more air-time, and allow you to focus more on FX, your specialty. After all, that's why you are there.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jan 22, 2010 19:09
partisan, yes thast why i said tyoo many times im not fan of selling CHF vs USD.

kashmir, FXE UDN.. pls do your reserach on these and you will follow many others


Ashraf
rkkashmir
Posted Anonymously
15 years ago
Jan 22, 2010 17:43
Ashraf or anyone else-

Is there a symbol on the NYSE for trading Euro which is eqivalent to eur/usd FX currency pair? If so, is the trading pattern similar to eur/usd or the inverse?

Also, what is the symbol for the USDX?

Thanks...
montmorency
UK
Posted Anonymously
15 years ago
Jan 22, 2010 15:37
More wise words Rkkashmir.
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