Eur/gbp (top)

Uk is printing money, quantative easing, while Germany is not. Ireland is cutting expenditure. There are good reasons for the fall in the pound against everything.
 
is not trading the EUR/GBP a "spread trade" in that it moves in the direction of an "equation" of greater weakness or greater strength of the EUR/USD or GBP/USD...there has to be some correlation there?...can someone add insight here...thanks...
 
Quote from Ivanovich:

RFT - I'd be very careful about calling a top here. The Euro benefits from irrational bouts of exuberance, and I think this is one of those. The Euro absolutely shouldn't be gaining here, but it is. One would think the pound would gain faster, but again, it's not. It's almost as if investors have forgiven any downturn in the EZ, but penalized the UK for it's recession. Stupidity, as usual.
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you are either joking or you have no clue what you are talking about.
 
Quote from just21:

Uk is printing money, quantative easing, while Germany is not. Ireland is cutting expenditure. There are good reasons for the fall in the pound against everything.
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No doubt. But Germany is not the whole of the EU - a large part, most assuredly. But there are some frighteningly bad problems in places like Italy and Spain right now. Not the least of which is backing of debt.

Again, you don't have to agree with me. I'm merely stating my opinions.
 
11:39AM: I just checked the account. I got stopped out with 20PIPS profit when eur/gbp went back to 0.8758 area,

I am going to analyze it soon, and decided whether to go back in.
 
12:05PM: I did a quick analysis. It is stronger than I thought, BUT I AM BACK IN!

I have made some 180PIPS on it as profits to should any possible losses.

Pair is now around 0.88. It is a round number, and would look good for a top if it were to happen.

I also noticed that many people posted. I have not read your posts it, as I am also in the battlefield of stock trading. So, I have to fight two battles at the same time!
 
Quote from riskfreetrading:

Are you sure? If you are sure, I will pick only tops then.

PS: A bottom is a top if you turn the chart upside down.

Check this thread to see how I deal with tops and bottoms: http://www.elitetrader.com/vb/showthread.php?s=&threadid=127406&perpage=6&pagenumber=54
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It's an expression, but you knew that. The same applies to tops, of course. Btw, please stop refering to yourself in the 3rd person. It makes me when to crush your face. :p
 
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