EU - where is it going next?

[Steve]

That's the biggest one day move (441 pips on 10th July 2013) in more than 4 years (since 18th March 2009 - 548 pips) - if I'm not mistaken.

What do you think? Is it going to stay within that 441 pips range for ages, or are the big moves back?

PS It may not be very vise to trade without stops if the big moves are back

 

[contra]

taking another portion off here.

what do you guys think about EJ?

 

[contra]

Quote from Steve:

That's the biggest one day move (441 pips on 10th July 2013) in more than 4 years (since 18th March 2009 - 548 pips) - if I'm not mistaken.

What do you think? Is it going to stay within that 441 pips range for ages, or are the big moves back?

PS It may not be very vise to trade without stops if the big moves are back

Hard to say... illiquid which could go either way but I would assume we lose some vol here and pickup in later August/Sept... I think we have German elections in late Sept.

Should never trade without stops IMO.

 

[contra]

edit: long for 3150 a bad idea? maybe leave some on for 3200..

 

[contra]

i guess 3140 was the better target. it hit 3150 on the button but my TP wasn't actually hit. out here, wait for next week. +20.. solid... lol

 

[Steve]

Quote from contra:

i guess 3140 was the better target. it hit 3150 on the button but my TP wasn't actually hit. out here, wait for next week. +20.. solid... lol

That was good Contra - no one ever went broke taking profits. I know there are some who may disagree, but we don't know if they're real traders though.

We are in a massive triangle and when price reaches it again it may react nicely (offer some nice trading opportunities). For the time being I'll look at what happens at 1.3200 level - break out or rejection.

PS It's my impression that they were manipulating it higher (before this choppy range) and now they stopped for whatever reason (maybe they run out of ink or there could be some downgrades - Spain? )

 

[newgptrader]

eur will drop like a stone in the near future, could be this sunday, you are unlucky if got any longs,free fall all the way to 1.20 initially

 

[contra]

Quote from Steve:

That was good Contra - no one ever went broke taking profits. I know there are some who may disagree, but we don't know if they're real traders though.

We are in a massive triangle and when price reaches it again it may react nicely (offer some nice trading opportunities). For the time being I'll look at what happens at 1.3200 level - break out or rejection.

PS It's my impression that they were manipulating it higher (before this choppy range) and now they stopped for whatever reason (maybe they run out of ink or there could be some downgrades - Spain? )

true that... I was just playing on the fact that I didn't think EUR/USD would break in any significant direction just yet before the weekend, but maybe chances for a small squeeze to 3200 if 3150 broke only to drop again in this range.

There was nothing really going on for Fri but towards the end of day Thur I saw some slightly positive news (or so I thought) and some OK PA for a punt. Just playing the range basically...

Some data next week for Euro... I'll be looking at AUD too this coming week.

I think my 3150 partial TP would have been hit by EOD but whatever.

 

[Steve]

For the time being I'll look at what happens at 1.3200 level - break out or rejection.
[/B]

Well - it came to that area.

Now it's taking stops left, right and centre before breaking up or rejection.

 

[contra]

who's the asshole at 3300....