Forex Forum Archive for 04/25/2004

Calabash TarHeel 23:59 GMT April 25, 2004 Reply   
CAIRO AG 23:57 GMT April 25, 2004
GVI... Jay: Good Job... keep it up

I second that! Thanks!

CAIRO AG 23:57 GMT April 25, 2004 Reply   
GVI... Jay: Good Job... keep it up.

Global-View 23:38 GMT April 25, 2004 Reply   
We have just launched a new Reseacrh section, which will be expanded over time. TO view current reports, CLICK HERE

OS Styrax 23:34 GMT April 25, 2004 Reply   
Calabash TarHeel 23:24

Thank you very much gl/gt

Calabash TarHeel 23:24 GMT April 25, 2004 Reply   
OS Styrax
My interperation would be Buy Euros fwiw.
Dr. Q please correct me if I am wrong.

gl,gt

OS Styrax 23:17 GMT April 25, 2004 Reply   
Melbourne Qindex 22:47 GMT April 25, 2004
EUR/USD : The odds are in favour of taking long position in Asia session.

Please can anybody interprete what this means. Is that taking long position on eur//usd is adviced or otherwise. I presently short the pair from 1.1804 and Im being hopeful

OS Styrax 23:17 GMT April 25, 2004 Reply   
Melbourne Qindex 22:47 GMT April 25, 2004
EUR/USD : The odds are in favour of taking long position in Asia session.

Please can anybody interprete what this means. Is that taking long position on eur//usd is adviced or otherwise. I presently short the pair from 1.1804 and Im being hopeful

hk ab nzd 0.65 23:08 GMT April 25, 2004 Reply   
qindex, thanks.

las vegas ez 23:01 GMT April 25, 2004 Reply   
houston now if we only knew Qindex outlook on the golden CURRENCY.. B^D....... i had to try ;)

Houston ST 22:56 GMT April 25, 2004 Reply   
Melbourne Qindex 22:47, still have length from last week; added a bit around 1.1800/05; thanks for your insights; gl/gt.

las vegas ez 22:55 GMT April 25, 2004 Reply   
Sheffied ,, nice charts, especially thee 4hr .

Melbourne Qindex 22:54 GMT April 25, 2004 Reply   
hk ab nzd 0.65 22:52 GMT - See my page on weekly cycle analysis of this pair.

hk ab nzd 0.65 22:54 GMT April 25, 2004 Reply   
nt, thanks, just found your view on cad.
GT as always.

hk ab nzd 0.65 22:52 GMT April 25, 2004 Reply   
Qindex, can shorting chf be the same?

Melbourne Qindex 22:47 GMT April 25, 2004 Reply   
EUR/USD : The odds are in favour of taking long position in Asia session.

CAIRO AG 22:27 GMT April 25, 2004 Reply   
Sorry guys, i thought were talking about today. GL & GT

Calabash TarHeel 22:26 GMT April 25, 2004 Reply   
Tel Aviv Z.G
My platform shows a high bid of 1.1927

CAIRO AG 22:23 GMT April 25, 2004 Reply   
1.8141 is the E$ high so far.

Swiss DG 22:10 GMT April 25, 2004 Reply   
Z.G ,
1.1926/28, if do not mistake.

Houston ST 22:09 GMT April 25, 2004 Reply   
ZG, my broker shows 1.1927, my data provider shows 1.1946, fwiw. gl/gt to you.

Tel Aviv Z.G 22:04 GMT April 25, 2004 Reply   
can anybody give me EURUSD high for friday?
T.I.A

nyc sa 21:52 GMT April 25, 2004 Reply   
I am thinking of shorting this pair maybe at a higher level , if it hits 84.60 /90 ,will watch it .

ny amc 21:45 GMT April 25, 2004 Reply   
I just did at 82.70. sl @ 83.70 tar @ 80.25-50

nyc sa 21:40 GMT April 25, 2004 Reply   
ny amc, at which level would u short chf/yen ?

Houston ST 21:27 GMT April 25, 2004 Reply   
AMC, just watching the opening action for now; not enough to really tell much yet, but still feel that $Bulls will try to reign the next 24 hours at least; we all the decent econ data last week and no surprises in G7 I would expect a continuation of recent $Bull run. imho. gl/gt.

ny amc 21:23 GMT April 25, 2004 Reply   
any comments on eur/jpy and chf/jpy . I am looking to go short here and just wanted to hear some viewpoints on them. Thanks

New York VP 19:13 GMT April 25, 2004 Reply   
Low $1.1805/e
high $1.1850/e

empoli (italy) ab 19:05 GMT April 25, 2004 Reply   
hi may i know pls hi and lo for eur usd traded in these first hours after G7 summit, thanks a lot

New York VP 18:56 GMT April 25, 2004 Reply   
$at 1.1808 now, thin market. Big jumps up and down.

Dallas GEP 17:57 GMT April 25, 2004 Reply   
Got some GBP shorts from Friday target 1.7665. Also have sone Eur/AUD shorts. Won't be around much until Asia. Good luck guys.

Stockholm za 17:32 GMT April 25, 2004 Reply   
ny amc ……..No offence but you is asking me that question which only relates to my trading stile.
What if I was to ask you back the same Q. It should not be what I or any body else does but what soot’s your trading style ( business ). That you have to find. Eg :- R&S for a pip Rader and a position trader will be two complete different things
There was a post by [ Calcutta Vikram ] some years ago on the time span that it takes a currency to move. That should be of grate help to you.. check in the archive..

Ina mr.co'z…….. Thanks for you kind words. I am happy to know at least some one does.
I am sorry , I do not do prediksi of the market.. it’s a no no in my Book. I follow the market, I do not try to go in front of it …I can only tell what is.
However do remember there are two types of fundamentals.
Fundamentals of the media & fundamentals of the charts..
I will get back to you with some thing later, have to go now..
Happy trades ……

Ina mr.co'z 16:40 GMT April 25, 2004 Reply   
Stockholm za
I often pay attention to your analysis in this forum.And see a lot of accurate you analysis. I will very glad if you have the prediksi for the currency of gbp/usd.
What you have one conclusion for the movement of market after this meeting G7 ?...
thanks a lot ...good luck !

ny amc 16:39 GMT April 25, 2004 Reply   
Stockholm.............in your opinion what timeframes on the charts do you find most useful when looking to identify support and resistance ? Thanks

Stockholm za 15:41 GMT April 25, 2004 Reply   
Bandung Suneo 20:12 GMT April 23, 2004

You should ask your self what was your motive for that trade -- Hint :-

" Support and Resistance:-
It is essential to understand the concept of support and resistance. In up trends every time prices retreat to the up trend line and then resume their advance the trend line has acted as support to the price up trend. Support can also be found at prices of previous support or resistance.
In down trends, every time prices rise to the down trend line and then resume their decline the down trend line has acted as resistance to the upward move of market prices. Resistance can also be expected at prices of previous support or resistance. Once levels of support or resistance have been violated then invariably these reverse their roles so that previous support becomes resistance and previous resistance becomes support. The validity of a trend line is dependant on its duration and the number of times it has been successfully tested. The longer the trend line has been in effect and the more times it has been successfully tested the more important the trend line becomes. Consequently when a trend line of long duration, which has been successfully tested many times, has been violated then an important reversal of trend has likely occurred. However, on no account exit the market until definitive evidence of trend termination has occurred. Remember another trading mantra - The trend is the trend until proved otherwise - to ignore this dictum is to unnecessarily deny yourself profits.

Range:-
It is estimated that the market may spend as much as 70% of their time in a relatively narrow trading range. These periods of sideways or ranging market action may be periods of accumulation at market bottoms or distribution at market tops or consolidation during trends. For nimble short term traders they can be an opportunity to make profit. Our challenge is to identify the beginnings and ends of trends early and to profit on the development of that trend. However, periods of range trading can be of help to us and it is worthwhile recognizing them, monitoring them, for eventually the range will end and break into a trend. Study-ing of strength during the range trading can be particularly helpful in indicating the likely direction of the range break out.
Ranges can be identified by the up and down price movement between areas of distinct support and resistance. Once the boundary of the range is broken then we should be prepared to act. Sometimes the market fools us by breaking out of the range only to quickly reverse and proceed entirely in the opposite direction. Therefore, on the break out of the range one must either wait and see the breakout confirmed or, if not confirmed, allow a 3-5% price change to occur.
It is of paramount importance that you understand sopport & resistance - & ( ranges ). You must be able to recognize and correctly draw trend lines. You must be able to recognize areas of support and resistance. You will also greatly improve your trading efficiency if you positively recognize and draw in potential channels on your price charts . You must become so good at chart reading that you can go through a heap of them and within minutes conclude whether a currency should be a BUY, SELL or stand off and what are the significant areas of support and resistance. "
Complement of :- Tradetalk

You bought into resistance - which will allways leave you with an unhappy trade . !!!
Happy tradesto you & GL/GT

hong kong nt 15:20 GMT April 25, 2004 Reply   
AB -- range trade USD/CAD 1.35-1.38 may work for this week...

bandung suneo 15:02 GMT April 25, 2004 Reply   
to all,
i need help! i want to ask about G7, where i can find about the result?

Spotforex NY 14:12 GMT April 25, 2004 Reply   
My best wishes to all Australians on this day of valor....Cherish the freedom secured by the fallen.

The G-7 statement seems quite optimistic on global growth....The US Dollar has been strengthening on recent data releases....No surprises from G-7 and lets see if growth outlook continues to dictate the currency direction.....


happy hunting all!!!!

Melb mpfx 09:07 GMT April 25, 2004 Reply   
ANZAC Day here in OZ, a day we remember those that gave their lives at war...
For the ANZAC's. Thank you & Lest we forget.......
~~~~~~~~~~~~~~~~~~

Fwiw some Eur/Usd #…. gt

Eur/Usd
Previous weekly Close ~ 1.1834
Range in Pips ~ 297

Previous weekly High ~ 1.2076
Fib Retrace 25% ~ 1.2002
Fib Retrace 33.3% ~ 1.1977
Fib Retrace 38.2% ~ 1.1963
Fib / Pivot 50% ~ 1.1928
Fib Retrace 61.8% ~ 1.1892
Fib Retrace 66.6% ~ 1.1878
Fib Retrace 75% ~ 1.1853
Previous weekly Low ~ 1.1779

5 Day Max Price ~ 1.2076
20 Day Max Price ~ 1.2387
60 Day Max Price ~ 1.2926
5 Day Min Price ~ 1.1779
20 Day Min Price ~ 1.1779
60 Day Min Price ~ 1.1779

sf mike 04:58 GMT April 25, 2004 Reply   
Wellington am 21:31 // I agree with most of what you said except the last part. We traders are a selfish lot. Here's a guy who gave his life for his belief and service to his country and you turned it around into an ugly lesson. What a shame even compare the lesson learned to trading.

HK RF@ 04:04 GMT April 25, 2004 Reply   
What reasons have driven the US into this war will not be known for the near future and maybe never will be completely known.
*What can be known are the immediate benefits like the fact the U.S is sitting now on the oil-fields valves ( As Cicero said: Nervos belli, pecuniam. The nerve of war, money.)

*The facts the Iraqi people were liberated from a monster dictator (which not all appreciate).

*This power coercion which brought countries like Lybia N. Korea and Iran to rethink their policies.

*An earlier showdown and a new battlefield between Al-qaeda and other extremists which could otherwise win time in organizing and improving themselves and strike more efficiently.

Whatever reasons has driven this or that individual who died in the war has gone with him to the grave.
So just tell after him "thank you for your sacrifice", and only ask "will it be good for the U.S or not?".

To say that a young healthy man followed blindly is nonsense!!!
The young, strongest and healthiest were always at the frontline giving their life for their contry for many psycho.and spiritual reasons and too.... because of nature call.

As for a longer view for the EUR/USD it is worth looking for a temporary triple top IF and WHEN price will reach to 1.29-vicinity . What has brought (as all know) the economic improvement in the U.S economy was it's currency devaluation so it makes no sense to undo it by revaluating it.
More than that, the Eurozone may need first a recovery in the U.S B4 things will begin to move there.

Calabash TarHeel 00:30 GMT April 25, 2004 Reply   
Wellington am 21:31 GMT April 24, 2004
I, for one, do not share your views, presumptions and assumptions as stated in your post regarding the death of Pat Tillman.

TarHeel