unclenna: MY TRADING PLAN FOR EU, EJ, GU, GJ...................Is to WAIT for them to drop and buy on dips either today or early next week .

unclenna: EU: ECB Draghi To Open The Liquidity Flood Gate?

(EU) ECB Draghi: If premium on Government borrowing hurts monetary policy transmission then dealing with them falls within the ECB’s mandate

ECB is ready to do whatever is necessary to preserve the Euro within its mandate, “and believe me, it will be enough.”
Reiterates that ECB priority is price stability; does NOT want to supplement government actions.
Euro Area much stronger than what has been acknowledged.
EU has lower deficit and debt and higher social union compared to US.
Progress on fiscal and reforms have been remarkable over the last six months.
Believe euro is irreversible.
The interbank market is not functioning across countries.

How to interpret this speech?

ECB Draghi stated that “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough,” and “… to the extent that the size of the sovereign premia (borrowing costs) hamper the functioning of the monetary policy transmission channels, they come within our mandate,” which means that ECB is going to buy Spanish and Italian bonds to drive their yields to sustainable levels, or good news for the Euro as the reason for the continued Euro sell-off is partially due to the lack of action by the leaders and contagion fear. This promise of action from ECB addresses both issues in my opinion and could bring stability back to the Euro for at least a couple of months, depending on the measures implemented. I believe market is going to be on ultra alert in the next few days and look forward to the next ECB meeting for more details.

I believe perception is key to Forex and perception is good right now for the Euro. However, remember that the situation in Greece, Spain, and Italy have not disappeared, this effectively just delays the inevitable, and ECB could only do so much… Market will probably consolidate its gains today as traders are still looking to sell on rallies… The real mover will probably be next ECB Meeting on August 2, and I’ll anticipate some pre-buying ahead of the meeting as ECB Draghi could announce a third round of LTRO (Long-Term Refi Operation) or SMP (Securities Markets Program) following today’s comments with concrete action. Verdict: Wait for EURUSD to drop and buy on dips early next week.

unclenna: This means FOR NOW i will ignore most sell signals from this currencies

endfx1: Bears be careful from this point...just my opinion

rozayx5: going off line will be back, if i get an e-mail from my system, or before the news breaks out. remember KISS is the key.
price action is the best view learn to trade it

endfx1: EU,EJ,GU,GJ.....our bias is now bullish on this pairs therefore lets be on the look out for LONG entry....

We have to do the waiting game now coz 2 things are possible from here....RANGING and PULL BACK to the daily PP or lower.

Any short position from here is risky unless you want to do the hit and run game..

I gave the same warning to the BEARS on Wednesday before what happened yesterday....

Lets see how events unfold today or better still we stay out till next week

rozayx5: going off line will be back, if i get an e-mail from my system, or before the news breaks out. remember KISS is the key.
price action is the best view learn to trade it

endfx1: If the majors does not rebound between 10am and 12noon then we still apply the waiting game..

Ogboraph: ALert ALERT ALERT buy GBPUSD at 1.5702 take first profit at 1.5727 then or at 1.5752 and set your stoploss at 1.5640 then we rock to 1.61000

Ogboraph: ALert ALERT ALERT buy GBPUSD at 1.5702 take first profit at 1.5727 then or at 1.5752 and set your stoploss at 1.5640 then we rock to 1.61000

infofirst:

Hmm,i am still learning but this ur call can only be realistic may be cos its friday and its Olympic for Britain. Technically, it is void. Still ur student boss.

mayzee:

Not for the Olympics too,, i would have serious doubt.

infofirst: But then lets face it, forex is just like any other tin in life. There is a pattern,master the pattern and u will be able to say this or that. I remembered d last eclipse of d sun, look at that prediction, it came to past or not. so in forex also,wen u master d pattern,mere sitting down and looking at ur chart, u will be able to say to point this now and then here and then and if it goes the other way,u will also be also to say ok, to this. That is what i v discovered and am learning that.

efe22: @rozayx5,

I have been sent the ddfx system yesterday by one of the traders here...but mine doesn't display the way yours is above. Totally a different chart

JAkpayen:

Word!



You don't have to be a follow-follow ooo! Be creative and use what works for you by adding 2 or more systems if it suits you.

mayzee:

Not for the Olympics too,, i would have serious doubt.

rozayx5: this is what you face if you dont wait for a confirmation from market sentiment, an unexpected retracement