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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Next thing you know he'll be telling Ashraf to be serious
picture is clear and u disturb mind of other traders plzzz traders keep the things carry on these guys making a trouble
thnx
dont disturb the things
I had a very good run with this pair along with USDCAD USDCHF CHFJPY & CADJPY both long and fortunately short played to my benefit too. If you ask me opinon to long it, its a good buy even right now but same time the pair gives me 50/50 feeling again and I'm not liking that very much right now. Top short term can be 1.4580, 1.4635 where it will be met with strong resistance. Its like my gutt says buy it but heart says wait.
That said im not too impressed with Euro at the moment, I've often talked about this 1.2330/40 level being a STRONG S&R level. Once pair is below this Euro become sluggish almost as if its to falter. and in chance of clear break out above it quickly moves 50 60 points in a single stride. And today exampled the same thing again. Obviously i did expect subsequently dow will also be breaking 10300 and Gold may break 1242, next i wait for 1224 for up side confirmation.
Yes, I will advice long a stop at 30 points below today's low around 1.3933 entry on EURAUD longs, one never knows best to use caution. I missed my entery for the day as I was out and so far for the day 100 points move in the pair seems to have done it course. we need couple of days side ways movement to consider that it will stop here at the same time. Today we saw passive day of Black Box trading, CB Intervention, Options market with shrunk volumes, US equities turn around ( which soon could emerge as failure to stay above MA)a UK budget, IFO, and VIX climbed second day in a row. What else could have gone wrong or right did happen and markets still numb.
I guess well see no change on yuan until they start implementing a new policy, that will be soon, but today AUD and USDJPY could lose more after an unchanged fixing. I had a small pending order on gold at 1243 last night, did not imagine it could be hit after that rally, now I still hold 1261 short and this 1243 3rd lot close two this morning.
you consider euraud long @140? Hum hum...
now then pivot is 1.2650 for mid term traders above this level only we can see buying till 1.32 its first target ... rite now the trade is ..... sell eur/usd below 1.2650 first target 1.1700 2nd target 1.1200 thord target 1.09
thnx
Well I certainly hope so. The last time we were down at these levels we saw a major base form and a vertical rally ensue. The fact that weve retraced the full move back to the break-up point could mean that this market is indeed very heavy and is set for further falls or it could be a total gift trade. Im hoping its the latter and that another base now forms above 1.4000 for a move to 1.55+.
EUR/JPY trades around 111.30 after finding support several times in the 111.05 area. Looks a lot like
USD/JPY which continues to find support ahead of 90.50.
110.87 is further support of 111.00/05 gives way, a spike low from June 15. 110.35 is further support. 111.60 is resistance on bounces.