Key Week for EURUSD Traders
- Thread starter VisionTrader
- Start date
*ahem* "criticize ."Quote from Ivanovich:
I have no comment on the "MCF". And as for spelling, when you can speak as many languages as I can, you earn the right to criticise.
I speak message boardese.
1.2062
Well, Thursday evening 9/29 and I would say we are officially in coiled spring status. Wonder if we will have to wait thru the weekend and into next week before top or bottom of monitor blows off.:eek:
*ahem*
"Criticise," is how it's spelled in the Queen's English.
Just like "analyse" or any other "ize" you want. You'd know that if you ever got out.
Put that in your pipe and smoke it.
Did you guys see this one. Talk about squawking.
Boston, October 3:
With markets very quiet so far in the States, dealers are looking at what if
scenarios. One of the more interesting points of conjecture is at what point
does Warren Buffett throw in the towel on his bearish USD bet. The answer
appears to be 1.1675 if market scuttlebutt is true. Buffett is rumored to have
set a stop on his gargantuan EUR/USD position at that level. So much for the
five-year time frame Mr. Buffett discussed on CNBC earlier this year.
Next up for the market is the September ISM report. A dip to 52.5 is forecast.
Boston, October 3:
With markets very quiet so far in the States, dealers are looking at what if
scenarios. One of the more interesting points of conjecture is at what point
does Warren Buffett throw in the towel on his bearish USD bet. The answer
appears to be 1.1675 if market scuttlebutt is true. Buffett is rumored to have
set a stop on his gargantuan EUR/USD position at that level. So much for the
five-year time frame Mr. Buffett discussed on CNBC earlier this year.
Next up for the market is the September ISM report. A dip to 52.5 is forecast.
Oh yeah. Buffet put in a stop with citi london at 1.1675.
'I say old chap. If Eur/USD hits 1.1675, would you mind buying about 10 billion USD for me? Try to get that within, say five pips if you can. TKU TTFN.'
Betcha gates front runs him with a stop at 1.1695. Poor warren shouldn't have opened his mouth.
Hey... if you get to 17 the figure, you might want to try to get short EUR before them. A billion might be enough to trigger off those stops... go ahead... push it.
Whatever.
'I say old chap. If Eur/USD hits 1.1675, would you mind buying about 10 billion USD for me? Try to get that within, say five pips if you can. TKU TTFN.'
Betcha gates front runs him with a stop at 1.1695. Poor warren shouldn't have opened his mouth.
Hey... if you get to 17 the figure, you might want to try to get short EUR before them. A billion might be enough to trigger off those stops... go ahead... push it.
Whatever.
I have drawn a big pink line on my charts at this level.
Well the proverbial coiled spring is wound up very tightly. I think the range has been nothing over the last 36 or so hours. Get ready for monitors to blow up soon.
IMO, we are at a key point now....before (or if) we reach the bottom. Just under the 161.8 retracement of the very high on the highest. From this point a strong move up would signal a reversal....a strong move away from this point means there will be more downside.
I have these reversal levels at 1.1963 on the spot and 1.1973 on the futures. Don't get me wrong the bottom is important, but this is the turning point.
We have arrived.
IMO, we are at a key point now....before (or if) we reach the bottom. Just under the 161.8 retracement of the very high on the highest. From this point a strong move up would signal a reversal....a strong move away from this point means there will be more downside.
I have these reversal levels at 1.1963 on the spot and 1.1973 on the futures. Don't get me wrong the bottom is important, but this is the turning point.
We have arrived.
