Euro news?

lurefo · Dec 29, 2009

Quote from Gcapman:

What;s up with the crazy upmove?

what crazy upmove? EURUSD lost 900 pips in 14 trading days since the recent highs and only recovered about 200 pips off the lows at 1.42.

Nothing spectacular. Actually, I might dump my last couple longs if we don't get above 1.45 quickly.

chad_17 · Dec 29, 2009

This euro rally looks like it has the feet - it will definitely cross 1.45 today. But the timing this rally is what drew my attention - i read somewhere that you should expect erratic swings during the holiday period so this might be just that, or it could be profit taking on euro shorts. I doubt this has any fundamental reason supporting the euro rally.

lurefo · Dec 29, 2009

Quote from chad_17:

This euro rally looks like it has the feet - it will definitely cross 1.45 today.

Yep, it does look enough strong to go and test the 1.45 area. Maybe today. I wouldn't use the the word "definitely" though. Markets have a tendency to prove you wrong when you use that language.

But the timing this rally is what drew my attention - i read somewhere that you should expect erratic swings during the holiday period so this might be just that,

What you read was wrong, holiday trading is not more erratic than the rest of the year. Take a chart of the last 10 yrs and see it for yourself. People need to find dozens of reasons to justify the failure of their market analysis or just to explain something they don't understand.

or it could be profit taking on euro shorts. I doubt this has any fundamental reason supporting the euro rally.

You don't need fundamental reasons for the market to fluctuate.

And this has nothing to do with Xmas either. All we need to know is that the 1.42/43 area was attractive to longs and to shorts covering their positions.

Good luck and good trading.

chad_17 · Dec 29, 2009

Thanks for the insight buddy - appreciate it..

Ivanovich · Dec 29, 2009

Quote from chad_17:

This euro rally looks like it has the feet - it will definitely cross 1.45 today. But the timing this rally is what drew my attention - i read somewhere that you should expect erratic swings during the holiday period so this might be just that, or it could be profit taking on euro shorts. I doubt this has any fundamental reason supporting the euro rally.

You read somewhere?

Look mate, don't put any stock in moves that occur in liquidity like this. Once the new year starts, it could be the same game, or a completely new one. There is no way to tell.

cabletrader · Dec 29, 2009

Quote from chad_17:

....- it will definitely.....

Definitely? I see....

cabletrader · Dec 29, 2009

Quote from lurefo:

What you read was wrong, holiday trading is not more erratic than the rest of the year.

I see, so thin volume while traders are taking a holiday over the Xmas and New Year doesn't affect volatility?

Ivanovich · Dec 29, 2009

Quote from cabletrader:

I see, so thin volume while traders are taking a holiday over the Xmas and New Year doesn't affect volatility?

Apparently it does not. I just ignored that comment

cabletrader · Dec 29, 2009

Quote from Ivanovich:

Apparently it does not. I just ignored that comment

I wish it didn't, I just logged on, made 2 trades, got stopped out on both of them, and closed the platform again!

That's the way (not) to do it! :eek:

TradeViper · Dec 29, 2009

Vacation, Vacation, Vacation. Chiillin and Maxin and Relaxin. Safe and secure in the knowledge that the profits are locked in, and the fee %s are in my bank. Dec 18-Jan 4 cash is KING.

Cable and Ivan be safe, and enjoy your time off with your friends and family.

The Ever Protecting The "Das Kapital" VIPER