@Ashraf: In your post of July 15, 2010 16:30 GMT, where was 1.2980 derived, as a matter of interest? It just overshot that (1.2986 on my chart), but has since lost ground.
@Coach: On my hourly chart, the 2 bars of 2am and 3am BST (British summer time) mark the lows. After that, not just the direction, but the pattern on the hourly chart, looks different. I guess the bears were still trying to force it down, but could not overwhelm the bullish buying. Before that date, it had been falling like a knife, with no one catching it.
"EUR gained strength across the board following a well received 15-year bond auction from Spain, waning sovereign concerns to some extent, as well as better than expected earnings from JPMorgan. Market talk of an Asian central bank buying in EUR/USD provided strength to the pair, the RANsquawk Research Team said. "
Is that last bit about Asian central bank buying likely to be for real, do people think? What is "Asian central bank" code for? China? (Japan?).
If EUR/USD is going to 1.17 or 1.18, it must be taking the scenic route.
Seriously though, a lot can happen between now and late Q3/early Q4, which was AL's most recent estimate for such a level. Still lots of problems in the Eurozone I think. Lots of problems in the US as well of course, and elsewhere.
The spikes I mentioned now have disappeared from their respective charts, so presumably was just a broker hiccup, especially as no-one else noticed it. It was like 150 pips or so; quite noticeable.
I've only just noticed that the spike I saw in cable is also present on the EUR/USD chart, around 16:40 GMT. Either something odd went on, or it was a broker/data glitch.
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ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
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How bitcoin halvingreduces bitcoin inflation below that of gold and how its "hardness" can beat every other asset & currency over time. Watch here.
كيف تنخفض نسبة التضخم في بيتكوين تحت نسبة تضخم الذهب و ما يعني "صلابة" بيتكوين كعملة او إرادة؟
Latest Hot-Chart - Apr 09
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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http://www.zerohedge.com/article/gold-plunges-paulson-liquidation-speculation-abounds-again-fund-rumored-be-down-1-billion-da
(see the comments beneath the article).
Was that a medium-term top, I wonder.
Yes, we miss Xaron. He used to be the only Euro bull around here for a long time. :)
(@Xaron: stop lurking, and post! :-) ).
It just overshot that (1.2986 on my chart), but has since lost ground.
After that, not just the direction, but the pattern on the hourly chart, looks different. I guess the bears were still trying to force it down, but could not overwhelm the bullish buying. Before that date, it had been falling like a knife, with no one catching it.
"EUR gained strength across the board following a well received 15-year bond auction from Spain, waning sovereign concerns to some extent, as well as better than expected earnings from JPMorgan. Market talk of an Asian central bank buying in EUR/USD provided strength to the pair, the RANsquawk Research Team said. "
Is that last bit about Asian central bank buying likely to be for real, do people think?
What is "Asian central bank" code for? China? (Japan?).
Anyway, this is quite interesting:
http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2010-07-15.html
Seriously though, a lot can happen between now and late Q3/early Q4, which was AL's most recent estimate for such a level. Still lots of problems in the Eurozone I think. Lots of problems in the US as well of course, and elsewhere.
@Coach: Good trade(s). Be happy you are on the right side of this market :)