Chinook's EUR/USD (E/$)Mumblings

Seems the slow "grinding trending" is exactly what we were seeing, but it could turn into more of a range towards the end, although resistance above is very thin.
 
Quote from Gringinho:

Seems the slow "grinding trending" is exactly what we were seeing, but it could turn into more of a range towards the end, although resistance above is very thin.
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We've seen some kind of "cusps" in both directions last 60 mins. It looks like stops were checked in both directions. I think we might see some interesting moves here. Hopefully towards the south :)

Edit: It's like a magician waving hands to distract people from his real intention :)
 
Quote from chinook:

We've seen some kind of "cusps" in both directions last 60 mins. It looks like stops were checked in both directions. I think we might see some interesting moves here. Hopefully towards the south :)
Edit: It's like a magician waving hands to distract people from his real intention :)
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I have some money on the upwards direction, although it's just my € funded equity. :)
I think we're close to the highs of the day, so that kind of reinforces my impression of the grinding upwards - although we could also call it a range since it's not exactly new highs ... yet. :cool:
 
I have been only playing the short side on the big spikes.
It sure feels like we will see 1.2800 sooner than later!
If you scalp these, you need to have a plan A and a plan B!

Good job on banning the "AE" Spammer!

Cheers
 
The "magician" managed to pull about 25 ticks from my account today. It was a tough day for me. I see many overlapping candlesticks in the short term charts. Most of my losing trades usually have 4-8 ticks MFE. If I don't catch a trend day, I tend to slowly bleed. I think my P/L would be better off if I scalp but I don't think I can last long mentally doing that.
 
Quote from forextrades:

There will most likely be a retracement to the 1.2335/50 area. Maybe next week.
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I admit that these high levels just before the US presidential election could give a huge slide back ... but with the oil prices as one of the catalysts I think we need to consider how far a possible oil-pullback could go.
On the other hand - market additions like corporate hedgers etc. might propel it higher. There is a "perceived trend forming", and that could give fuel to the EURUSD by itself.

I think that one of the things Kerry might do is try and take measures to strengthen the USD .. and the double deficit, especially as this is seen as one of the arguments against Bush, and he would want to distance himself somewhat from the economy and effects Bush is perceived as having.

The nearing election makes me a little (!) jittery with regards to any "trends".
 
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