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montmorency
(Abingdon, United Kingdom)
74 Posts by Anonymous "montmorency":
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montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 16, 2010 20:17
In Thread: Gold, Oil & Indices (Equity & Bond Indices)
There used to be plenty of gold bears around here. Well, even some on ZH are bearish now:
http://www.zerohedge.com/article/gold-plunges-paulson-liquidation-speculation-abounds-again-fund-rumored-be-down-1-billion-da

(see the comments beneath the article).
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 16, 2010 17:20
In Thread: EUR
@Catnip: Yes, it's very uncertain. 4 hourly down bars after 5 hourly up bars, peaking at 1.3007.

Was that a medium-term top, I wonder.


Yes, we miss Xaron. He used to be the only Euro bull around here for a long time. :)
(@Xaron: stop lurking, and post! :-) ).
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 16, 2010 12:09
In Thread: GBP
@Ashraf: In your post of July 15, 2010 16:30 GMT, where was 1.2980 derived, as a matter of interest?
It just overshot that (1.2986 on my chart), but has since lost ground.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 16, 2010 9:54
In Thread: EUR
@Coach: On my hourly chart, the 2 bars of 2am and 3am BST (British summer time) mark the lows.
After that, not just the direction, but the pattern on the hourly chart, looks different. I guess the bears were still trying to force it down, but could not overwhelm the bullish buying. Before that date, it had been falling like a knife, with no one catching it.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 15, 2010 15:14
In Thread: EUR
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=c6d65c0c-083a-41c6-8b86-0b4fc3751089

"EUR gained strength across the board following a well received 15-year bond auction from Spain, waning sovereign concerns to some extent, as well as better than expected earnings from JPMorgan. Market talk of an Asian central bank buying in EUR/USD provided strength to the pair, the RANsquawk Research Team said. "

Is that last bit about Asian central bank buying likely to be for real, do people think?
What is "Asian central bank" code for? China? (Japan?).
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 15, 2010 3:15
In Thread: EUR
@Ozzy: Yes. *sigh*. Painful lesson. That's currency trading for you.

Anyway, this is quite interesting:
http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2010-07-15.html
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 15, 2010 2:44
In Thread: EUR
If EUR/USD is going to 1.17 or 1.18, it must be taking the scenic route.

Seriously though, a lot can happen between now and late Q3/early Q4, which was AL's most recent estimate for such a level. Still lots of problems in the Eurozone I think. Lots of problems in the US as well of course, and elsewhere.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 13, 2010 18:53
In Thread: EUR
The spikes I mentioned now have disappeared from their respective charts, so presumably was just a broker hiccup, especially as no-one else noticed it. It was like 150 pips or so; quite noticeable.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 13, 2010 17:02
In Thread: EUR
I've only just noticed that the spike I saw in cable is also present on the EUR/USD chart, around 16:40 GMT. Either something odd went on, or it was a broker/data glitch.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Jul 13, 2010 16:58
In Thread: EUR
@Phystech: It is looking that way, at least for the time being.

@Coach: Good trade(s). Be happy you are on the right side of this market :)
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