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Thread: Dec.11, 2009 EURUSD Buy at 1.4600

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    In Profit DollarBull's Avatar
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    Default Dec.11, 2009 EURUSD Buy at 1.4600

    Why? Because in spite of the economic news, US Libor has hit all time low... and currencies tend to follow Libor strongly. Buy, set very close stoploss and hope for the best.

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    I will see to it that it follows. Cos EURUSD it at the bottom of the bollinger right now hoping to rebounce soon.(see daily and 4hr chart)

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    Also remember the news "German ZEW Economic Sentiment" at 10.00gmt

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    Quote Originally Posted by blissreel View Post
    I will see to it that it follows. Cos EURUSD it at the bottom of the bollinger right now hoping to rebounce soon.(see daily and 4hr chart)
    Well it did rebound by about 80 pips but this early EU morning it was trashed down mainly from EURGBP sell off (fortunately trailing stop helps). I think EURGBP may be better for bottomfishing at this time. Will see if it pulls back some more or returns up in hourly.

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    nice job

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    Quote Originally Posted by DollarBull View Post
    Well it did rebound by about 80 pips but this early EU morning it was trashed down mainly from EURGBP sell off (fortunately trailing stop helps). I think EURGBP may be better for bottomfishing at this time. Will see if it pulls back some more or returns up in hourly.
    Well i think EURUSD will bottom at 1.4400 for now. As for EURGBP it will soon be going upside from 0.8830

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    Quote Originally Posted by blissreel View Post
    Well i think EURUSD will bottom at 1.4400 for now. As for EURGBP it will soon be going upside from 0.8830
    If FOMC meeting outcome doesnt send EUR below 1.44, it is unlikely to go down further. The daily RSI has hit 30, it is ready for a fast bounce upwards. But if it is going to break down that RSI 30, it may go way down to 1.38. Hence, I do not believe 1.44 is the bottom, it is the beginning of another downslide.

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    Quote Originally Posted by DollarBull View Post
    If FOMC meeting outcome doesnt send EUR below 1.44, it is unlikely to go down further. The daily RSI has hit 30, it is ready for a fast bounce upwards. But if it is going to break down that RSI 30, it may go way down to 1.38. Hence, I do not believe 1.44 is the bottom, it is the beginning of another downslide.
    Why do u think so?

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    Quote Originally Posted by DollarBull View Post
    If FOMC meeting outcome doesnt send EUR below 1.44, it is unlikely to go down further. The daily RSI has hit 30, it is ready for a fast bounce upwards. But if it is going to break down that RSI 30, it may go way down to 1.38. Hence, I do not believe 1.44 is the bottom, it is the beginning of another downslide.
    don't care on overbought/oversold areas

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