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Thread: EURUSD

  1. #21541
    Gregory McLeod's Avatar
    Gregory McLeod is offline DailyFX Moderator/Trader
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    Higher Low Warned of USDCHF Rebound

    Quote Originally Posted by Gregory McLeod View Post
    USDCHF 60-Minute Chart: Higher Low Could Indicate Rebound- After that tidal wave move down, look for a rebound!
    Higher Low Warned of USDCHF Rebound

    รูป รูป  
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  2. #21542
    Gregory McLeod's Avatar
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    Quote Originally Posted by blackbell View Post
    Greg, is there any update on SSI?
    Yes!

    Currency Spotlight:

    USDJPY - The ratio of long to short positions in the USDJPY stands at -1.15 as 46% of traders are long. Yesterday the ratio was -1.26; 44% of open positions were long. Long positions are 8.1% higher than yesterday and 5.4% above levels seen last week. Short positions are 0.9% lower than yesterday and 65.7% above levels seen last week. Open interest is 3.1% higher than yesterday and 13.2% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the USDJPY may continue higher. The trading crowd has grown less net-short from yesterday but more short since last week. The combination of current sentiment and recent changes gives a further bullish trading bias.
    EURUSD - The ratio of long to short positions in the EURUSD stands at -2.55 as 28% of traders are long. Yesterday the ratio was -2.49; 29% of open positions were long. Long positions are 0.8% lower than yesterday and 0.5% below levels seen last week. Short positions are 1.6% higher than yesterday and 9.7% below levels seen last week. Open interest is 0.9% higher than yesterday and 7.3% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the EURUSD may continue higher. The trading crowd has grown further net-short from yesterday but moderated since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    GBPUSD - The ratio of long to short positions in the GBPUSD stands at -2.09 as 32% of traders are long. Yesterday the ratio was -1.95; 34% of open positions were long. Long positions are 2.7% lower than yesterday and 36.0% above levels seen last week. Short positions are 4.2% higher than yesterday and 23.3% below levels seen last week. Open interest is 1.9% higher than yesterday and 9.0% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the GBPUSD may continue higher. The trading crowd has grown further net-short from yesterday but moderated since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    GBPJPY - The ratio of long to short positions in the GBPJPY stands at -2.20 as 31% of traders are long. Yesterday the ratio was -2.61; 28% of open positions were long. Long positions are 12.7% higher than yesterday and 13.7% below levels seen last week. Short positions are 5.1% lower than yesterday and 7.0% below levels seen last week. Open interest is 0.2% lower than yesterday and 15.5% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the GBPJPY may continue higher. The trading crowd has grown less net-short from yesterday but further short since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    USDCHF - The ratio of long to short positions in the USDCHF stands at 3.96 as 80% of traders are long. Yesterday the ratio was 3.66; 79% of open positions were long. Long positions are 4.0% higher than yesterday and 3.6% below levels seen last week. Short positions are 3.7% lower than yesterday and 16.5% below levels seen last week. Open interest is 2.4% higher than yesterday and 2.0% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USDCHF may continue lower. The trading crowd has grown further net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further bearish trading bias.
    USDCAD - The ratio of long to short positions in the USDCAD stands at 1.63 as 62% of traders are long. Yesterday the ratio was 1.67; 63% of open positions were long. Long positions are 1.1% higher than yesterday and 16.4% below levels seen last week. Short positions are 3.5% higher than yesterday and 0.1% above levels seen last week. Open interest is 2.0% higher than yesterday and 12.7% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USDCAD may continue lower. The trading crowd has grown less net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.65 as 62% of traders are long. Yesterday the ratio was 1.75; 64% of open positions were long. Long positions are 10.8% lower than yesterday and 42.0% above levels seen last week. Short positions are 5.6% lower than yesterday and 52.4% below levels seen last week. Open interest is 8.9% lower than yesterday and 24.6% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the AUDUSD may continue lower. The trading crowd has grown less net-long from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    NZDUSD - The ratio of long to short positions in the NZDUSD stands at -1.01 as 50% of traders are long. Yesterday the ratio was 1.06; 51% of open positions were long. Long positions are 1.2% lower than yesterday and 72.5% above levels seen last week. Short positions are 5.5% higher than yesterday and 47.4% below levels seen last week. Open interest is 2.1% higher than yesterday and 22.6% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are short gives signal that the NZDUSD may continue higher. The trading crowd has flipped from net-long to net-short from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    EURCHF - The ratio of long to short positions in the EURCHF stands at 14.35 as 93% of traders are long. Yesterday the ratio was 16.38; 94% of open positions were long. Long positions are 3.5% lower than yesterday and 5.5% below levels seen last week. Short positions are 10.1% higher than yesterday and 7.7% below levels seen last week. Open interest is 2.7% lower than yesterday and 4.4% below its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the EURCHF may continue lower. The trading crowd has grown less net-long from yesterday but further long since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
    How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
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  3. #21543
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    Quote Originally Posted by Gregory McLeod View Post
    Congrats FXMIA! I caught a similar move on cable. What made you short the Euro?
    Twice was beaten on EJ and once on YEN.. Final pull made it all worth while.. Well, closing it in a lil green, better than been in RED any given time... 114.22 EJ shorts made up nicely but forgot I had a limit placed on it at 113.89.. Would have been sweet otherwise...
    Anyways see you all next yr............... I'm on vacation..

    GL..
    Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us—
    The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
    Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...

  4. #21544
    AlexFXTrader is offline Member
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    What the...?

    Quote Originally Posted by Alan Rich View Post
    Remember I told you a couple of days ago that the EURO was strong.

    In trading you never listen to opinion but rather watch what’s going on. Is this the start of something bigger in the first part of next year for the EURO?

    That big stall we had in the US session before Christmas due to Fiscal Cliff negotiations breaking down has started interesting moves.

    The US Dollar has suddenly strengthened and is holding. Underneath the EURO is still strong against weaker currencies but for the moment the US Dollar is king.

    So Whilst EURJPY is moving up, USDJPY is flying. Whilst EURAUD is moving up AUDUSD is falling hard.

    So for the moment I’d be more interested in USDJPY rather than EURJPY.

    If all of this is a reaction to the Fiscal Cliff then it’s safe to assume that nothing will get done over the Christmas period so the US Dollar could continue its strength and I’d look to trade it against weaker currencies.

    If they sort out the Fiscal Cliff and the US Dollar weakness then I’d switch back to the EURO against the weaker currencies.

    I spent all day Christmas day with my family. I spent half of Boxing Day with my extended family yet I still managed to follow and trade the markets. I just fitted it in and around my life style for those 2 days. All the time managing positions with stops based what was going on intraday when I could check my screens.

    Anyone can do that during their normal working life.

    The EURUSD wants to move up because the EURO is strong but the weak S&P futures keeps holding it back by strengthening the US Dollar. That’s its big problem at the moment. That’s why its lagging other EURO crosses.

    This is how I played the strong Euro.

    Since when is USD king against EUR in the past few days. If you check USD/JPY compared to EUR/JPY as you said, the Euro has risen against the Yen by quite a long way more than the Dollar.

    In addition to this, EUR/USD on the 4hr chart is making higher highs and higher lows right now. It is currently bullish above the 1.3172 support level.

    However, i do agree on the Yen weakness and this should be evident for a long long time, EUR, USD, GBP, AUD, NZD should still see big gains against the Yen.

    With that being said, the EUR looks like the strongest currency out of the majors right now. The GBP had been looking strongest with the EUR last week but it has dropped off a little.

    Nice trades taken there btw.

    Happy trading!

  5. #21545
    Fx(MIA) is offline Member
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    I was trading

    I was expecting News of a possible Cliff-deal thing it would signal stronger economy hense stronger dollar. and I was looking at the dollar news break times. the dollar cycle looked to cycle upward at the time of the news release.

  6. #21546
    Joke's Avatar
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    Quote Originally Posted by Joke View Post
    I'm also long with SL at 1.3236.
    I'm going to look for a turn this evening or tomorrow morning.
    Targets are 1.3284/1.3300/1.3310

    The turn could be heavy

    Good luck everyone
    It isn't finished, it could go quick now. First targets 13110. Later more.

  7. #21547
    Andie is offline Member
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    Another Drink

    My drink bill is getter bigger. I owe you another.



    Quote Originally Posted by Fx(MIA) View Post
    short to 1.3050 might move sideways alittle and apop to the top but i am short
    Last edited by Andie; 12-27-2012 at 01:20 PM. Reason: spell

  8. #21548
    Cipresko is offline Member
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    Quote Originally Posted by raghu1 View Post
    All is Well..... Now Buy eurusd for medium term...
    What is your target for EUR/USD, a made another heavy short position after dipping. Later a made a lot of loss on gold, so i really dont want to lose more money today What santa brought, the devil took away from me today hehe

  9. #21549
    Fx(MIA) is offline Member
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    your trade setups are short trem trades so why is your invalidation (8-10 hours) as a fellow trader wouldn't a no-touch or non- break of previous support or resistance be better?

    Quote Originally Posted by raghu1 View Post
    All is Well..... Now Buy eurusd for medium term...

  10. #21550
    Joke's Avatar
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    And again short here at 1.3240

  11. #21551
    RealizeTrading is offline Registered User
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    Profit target reached. Max potential gain = 35 pips for the trade.

    Quote Originally Posted by RealizeTrading View Post
    Trading EUR/USD Long above psychological level of 1.325 with cross of SMA-50 above SMA-20.

  12. #21552
    Cipresko is offline Member
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    Massive SHS pattern in making on 1hr chart GOLD!!! RS just begon TGT: 1624-26

    gl

  13. #21553
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    Max lot size for a 2% or 3% equity risk trade is based not on lot size but on your stop placement. If you want to let your trade run 100 pips or 10 pips to your stop that is the place you must go to find out the lot size of trade you wish to make. I agree about planing to have losses.

    Quote Originally Posted by Paul Chin View Post
    With a 50000 dollar account, you can trade a maximum of 1 standard lot. That is proper leverage, and the assumption that you will not have a losing month is unattainable, unless you know exactly what you are doing. There are only a few here you can listen , utimately, you need to listen tothe market through your heart. And to do that, takes more than 2 years, i assure you that.

    I like your sincerity. Good luck!

  14. #21554
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    Quote Originally Posted by Slim View Post
    Max lot size for a 2% or 3% equity risk trade is based not on lot size but on your stop placement. If you want to let your trade run 100 pips or 10 pips to your stop that is the place you must go to find out the lot size of trade you wish to make. I agree about planing to have losses.
    Very good point Slim and very important to understand this before a trade is placed

  15. #21555
    Andie is offline Member
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    Looking to buy euro at 1.323

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