Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
in my opinion buying resistance and selling support is very difficult. I have a breakout type strategy, and I wait for the close of a bar at these certain points I look at. What would be even better is to wait for penetration and a retracement. But that's the way I perceive things...
Longer term position looking good right now, with about +80 ticks - that's roughly a little more than a good week's typical profits with the size being used. It has been up +90 ticks, so I guess it's time to start locking in some profits here, and let perhaps half of it run with a trailing stop.
edit: will have to see what level I will use - will follow it like a scalp a little.
edit: will have to see what level I will use - will follow it like a scalp a little.
FX-Concepts sees the ⬠into 1.2940 by the next week. They're long since 1.2310 ... 
They are very negative to the Bush win, and see continued spending on military actions and perhaps retaliatory actions by terrorists including sending the US on wild goose chases. Longer term target is around 1.3100 into a stronger trending finish for the year.
Deutsche Bank sees target of around 1.3040, and watching the EURJPY forecast is almost scary with the Cognitrend forecast running into 145 at end of year. They also note relucatance of short-term and mid-term players to bet the trend higher.
Thomson are long at 1.2849 with target 1.3140 and stop 1.2765. They note stops below 1.2775 and an exotic barrier at 1.2900 expiring today 15:00 NYC time as peak trigger of a large double no touch option with base lower than 1.2200. Another 1.2900 plain-vanilla option a long with 1.2800, 1.2770 and 1.2760 strikes.
They are very negative to the Bush win, and see continued spending on military actions and perhaps retaliatory actions by terrorists including sending the US on wild goose chases. Longer term target is around 1.3100 into a stronger trending finish for the year.Deutsche Bank sees target of around 1.3040, and watching the EURJPY forecast is almost scary with the Cognitrend forecast running into 145 at end of year. They also note relucatance of short-term and mid-term players to bet the trend higher.
Thomson are long at 1.2849 with target 1.3140 and stop 1.2765. They note stops below 1.2775 and an exotic barrier at 1.2900 expiring today 15:00 NYC time as peak trigger of a large double no touch option with base lower than 1.2200. Another 1.2900 plain-vanilla option a long with 1.2800, 1.2770 and 1.2760 strikes.