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  1. #1
    Senior Member LeeChang's Avatar

    Post Lee Market Outlook !!!

    Hey ya, I decided to start my own thread for short term intraday analyses of the market and the opportunities I found. Today the liquidity was still very low and the market don’t have direction. I think the uptrend is more probable as we saw strong support around 3030 for the EUR/USD and 6000 for the GBP/USD. AUD/USD is in the range heading north. I expect a breakout this range tomorrow and test of 0550 dynamic resistance level. The precious metals are still heading nowhere. The US indexes are still bellow their 2012 tops and have some bullish momentum but this could last not very long if some bad data appear. I am waiting tomorrow EU interest rate decision before jumping bigger in the market! Have a nice day and a lot of $ in your account

  2. #2
    Specialist Member RCox's Avatar
    Quote Originally Posted by LeeChang View Post
    Hey ya, I decided to start my own thread for short term intraday analyses of the market and the opportunities I found. Today the liquidity was still very low and the market don’t have direction. I think the uptrend is more probable as we saw strong support around 3030 for the EUR/USD and 6000 for the GBP/USD. AUD/USD is in the range heading north. I expect a breakout this range tomorrow and test of 0550 dynamic resistance level. The precious metals are still heading nowhere. The US indexes are still bellow their 2012 tops and have some bullish momentum but this could last not very long if some bad data appear. I am waiting tomorrow EU interest rate decision before jumping bigger in the market! Have a nice day and a lot of $ in your account
    Hi Lee, good idea for a thread. One suggestion: When you are talking about currencies its generally easier to read at a glance if you put the entire price quote in your analysis. My roots were in currency trading and I have never seen anyone quote EUR/USD as testing support at 3030. 1.3030 is much easier to read. Also, in a sentence like this ("I expect a breakout this range tomorrow and test of 0550 dynamic resistance level. The precious metals are still heading nowhere.") Make sure that you explain which currency pair you are talking about. Like I said, I have been doing this a long time so I know you are talking about the Aussie but for people newer to the game, it would be very confusing. This is especially true when you are talking about multiple pairs at once.

  3. #3
    Senior Member LeeChang's Avatar
    Thanks RCox. I appreciate your thoughts and will change my style, but you are not right about quotes, there is such jargon in many banks and dealing desks. I was introduced to this style when I worked here in Hong Kong for a large local bank. For example if you want to bye with limit order 10 million USD at 1.3050 you call the other side and tell on the phone 10 USD at 3050 mine! This is a long story.. I know most of the traders are not familiar with that jargon and I will try to avoid it

  4. #4
    Senior Member LeeChang's Avatar
    The EUR rates remain unchanged and this pushed EUR/USD 15 pips higher. The reaction is positive but not very euphoric so I think it is not good idea to bet on up-trending market yet.

  5. #5
    Senior Member LeeChang's Avatar
    Now after the Draghi speech the movement unfolds very quickly. I enter a bit later but still a good gain on the EUR

  6. #6
    Solid Member Peter Green's Avatar

    Smile Great EUR move !!!

    Great, Lee! I also was bullish and entered an EUR call. Nice gain on it

  7. #7
    Master Member vinayakm's Avatar
    Good initiative Lee! Bogdan had some good tips on the Draghi speech, but he totally confused me by putting Friday instead of Thursday even though he got the date right. I got a shock when the Draghi speech turned out to be today!

  8. #8
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by vinayakm View Post
    Good initiative Lee! Bogdan had some good tips on the Draghi speech, but he totally confused me by putting Friday instead of Thursday even though he got the date right. I got a shock when the Draghi speech turned out to be today!
    hehehe. yea.


    @leechang. Good analysis. I agree with Rcox that a full quoted price will help in better understanding of analysis.

  9. #9
    Master Member Bogdan G's Avatar
    AAARRRGGGHHHH....the pain...guys, I am so so sorry about that! I check my articles very thoroughly and I cant believe I made such an idiotic mistake...I always watch the Press Conference on the ECB website and I know it's always 45 min after the Rate is announced. I guess since I was so sure about the time, I didn't check the day (it remained there from a previous article). Sorry again!

  10. #10
    Junior Member
    Ya, got some losses too because at the time of Draghi's speech. Nothing on Bloomberg about that. CNN was talking about Oscars. I knew there was a speech, because I had incoming news about he was saying, but I didn't know when it started or how much it was going to last. So is it possible to see these speeches live?

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