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If anyone is trading EU tonite, keep an eye on the senate vote for healthcare!
Not good news cAt, I knows the situation, I have increased my acct to accommodate such situations... Even now I am deep in the red on CAD long positions, but as you say, normality will return and I have no prob waiting for 1.05 or higher.
You will recover in no time I am sure
Thanks star!
Hi guys, not much chatter about EU these days. Wanted to ask the E/W guys if you think this might finally be the end of wave 4 and start of wave 5!
Bad news for the US nicely hidden in the current account #'s. -116B vs -rev -102B. LOL the prev month was revised from -10B!!
That equates to a current month of -208B !!
Typical American!! Just no imagination at all!
Heads up, US employment in 15 mins Lets hope our imagination is equal to or better than the UK's!
Now I see that Gordon might win the election because he is fixing the economy!!
Ha ha, I guess the conservative bookkeepers are not as sharp as the labor guys!!
How can the voting public in the UK be so naive? I just listened to a piece on Bloomberg where a woman off the street was so happy that employment has improved???
Incredible eh Omar, I have thought that the exuberance over the Greek solution was nothing more than political smokescreens. Weeks ago Soros and others were selling EU, for what, to lose their money!
Now there is talk of "keep your eyes on Italy"! LOL, there is so much political crap in fx these days it makes your head spin!
California has a bigger problem than any country in Europe but not a peep about them!!
Hi Omar, love your newer post re "borrow $", you nailed that!!
With respect to the unemployment claims being reduced by xxx, wouldn't it be interesting to see the corresponding increase in welfare applications!! I am not being a smart ass, I have lived the UK system!
Shouldn't the surprise come as something to add value to the dollar? Perhaps I am not thinking straight
RC, I have UK micro acct
E-mail week or so ago, micro accounts are changing to no dealer desk execution but pip spreads will double it seems. No 5K limit on the acct anymore and old holders have been offered a 1 pip reduction if the account is over $10K as of close 18th Mar.
FXCM micro accounts are going away soon
You are up early Omar for a Sunday!! LOL
EU 4 Hour Chart for next week. Seems that the general consensus is that Euro will go to the 1.40 area before the next wave down. I think that is possible but there is still room for up and down movement on the way there.
I have set this chart up using the values since this corrective wave 4 started.
There has been an ~400 pip range. The fib (black) is based on this. The fib (light blue) is based on Mar thru Dec 2009. Pivot/R & S levels are based on the current wave 4 high/low. Daily trend is purple, 4 Hour is red.
The vertical lines are placed where SSD K (blue) crosses below D (red), The avg retrace has been 171 pips.
The avg retrace from the high to the 20EMA (white) has been 113 pips and the avg between highs and lows has been 242 pips.
Based on the above info I am anticipating a return to the 1.3620 area early this week before starting the trek upwards.
4 Hour EU chart, comparison between MT4 and marketscope FXCM.
Marketscope is my live micro acct, MT4 is a demo.
The curious thing here is the difference in the last 3 or 4 candles. I think it might have something to do with the time settings but I can't find a way to change them.
The reason I did such a detailed comparison was to try and see the diff between the 20MA smoothed and the 20EMA. Not all that far off and I think the diff time settings might have something to do with it.
Can someone help me with FXCM MT4 time adjustment?
Qui, That must be on MT4, I don't get that option on FXCM Marketscope charts.
Hi pennies, When you refer to "smoothed MA20" is that the same as the EMA20 or is it a totally different indicator only available on MT4? TIA
Qui, I use FXCM std demo acct and all those indices are there plus oil gold and silver
I agree but it should still put downward pressure on the currency don't you think? What is your view for EU?
So what does next week bring for EU, it has behaved oddly this week I think. Some strange stuff going on.
Greece bailout makes you think EU should tank, sort of like dilution if compared to a stock I would think. The other side of the coin is end of 1st Qtr in sight, a great benefit to fund managers if the markets end on a high note. This will put upward pressure on the EU right?
I think I have this chart right, looks to me that wave 5 is getting ready to start. Perhaps a quick shot at 1.40 and then head for the 1.30 area?
Help me out here guys, am I on the right track? Wave 2 and wave 4 are about the same now so should indicate time for change?
Hi cAt, long time!
I am in the same boat as you but on EU short and UCAD long. I believe there has been some manipulation going on. Oil and Gold have been acting weird.
I also plan on hanging on, the truth will prevail. Have added cash to my account for security.
Good luck to us both!
How about "Good morning GREENER'S"
Hi Omar, got my 1.5000, taking 1/2 off, set SL at profit and let her go! Love when a plan comes together. Have long UCAD , short EU and short AU all running. Sometimes even a blind squirrel finds a nut!!
On my simple charts I have weekly pivot @ 5061, also crossing the pivot line are the weekly and 4H trend resistance lines. There is 4H trend support and weekly support crossing @ ~4965. This is on a 1H chart. CCI is also overextended. I am hoping for 5000 in 4 to 6 hrs.
This is all I can find Omar. I just added a short to my fire, will see what happens.
11 Mar 07:00:10 British Pound Advances as Inflation Expectations Push Higher, Euro Holds Tight Range: The British Pound halted th... http://bit.ly/cchELF
Hi Omar, I will be heading to the UK for the summer in late May, I look forward to the civilized trading hours.
You must have seen the story about Italy being compared to Argentina and Gov corruption, if that becomes true goodbye EuroZone!!
Baloney!! LOL
All this news crap is taking our attention off the real market!!
LOL, great reply!!
I just got a letter from the Census people telling me I was going to get a letter from the Census dept!!!
I wonder just how much it cost me to have the fat cat Gov to dream that up, get a contract and send it!
GBP under pressure today, news of Fich reviewing their rating plus worse than expected trade balance.
I have a happy short GU now, looking for close to 1.48
nice report, I need to spend more time watching AU, seems to be a good pair
Morning OMAR, looks like EU might be in for a down day. Need to be careful later when Greek PM meets with Obama
Hope you are having a pipping day!
I hope so, maybe I can get a 15 pip slip for EU too LOL
Or when Obama, or Bernanke open their mouths!!