Comments on: Lack of bad news re Spanish bank tests is causing short-covering https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/ The Professional Source Sun, 30 Sep 2012 10:19:40 +0000 hourly 1 By: Sean Lee https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-692 Sun, 30 Sep 2012 10:19:40 +0000 http://fxww.dreamhosters.com/?p=868#comment-692 Brilliant analysis Iridium, you picked it clean as so far

]]> By: Roberto https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-614 Fri, 28 Sep 2012 09:01:44 +0000 http://fxww.dreamhosters.com/?p=868#comment-614 Hello,

Sean,

do you have any forecast about the bank stress tests comeout?

]]> By: Iridium https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-603 Fri, 28 Sep 2012 06:44:19 +0000 http://fxww.dreamhosters.com/?p=868#comment-603 Notice how nicely the 100MA and 150MA on hourly charts provide support to the EURUSD whereas they were resistance before 🙂
MA are not always so remarkable.

]]> By: Sean Lee https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-597 Fri, 28 Sep 2012 06:36:17 +0000 http://fxww.dreamhosters.com/?p=868#comment-597 Thanks Iridium, very logical analysis

]]> By: Iridium https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-594 Fri, 28 Sep 2012 06:29:06 +0000 http://fxww.dreamhosters.com/?p=868#comment-594 Good morning Sean,
My analysis goes like this:
The first part of the correction wave from the 1.317 top is now finished. And we will witness a correction upwards. For the less Elliotist traders, I expect this will look like range trading in the 1.285-1305 window (mostly in the 1.29x area). Since the market is waiting for the spanish rescue plan to be triggered with ECB bond buying, I would expect further pressure to remain and the next bull wave that brings us to 1.335-1.348 not be triggered yet. In other words, this move up is just a “correction within the correction”. Therefore, I expect several days of ranging in the 1.29x area, until further risk-off comes to get us to test new lows. The 1.2815-1.2805 pivot point is in my opinion not valid anymore. It will offer some limited resistance. I will look to 1.274 area (61.8% fibo from the bottom of this year at 1.204). The 200-MA was so strong that it created this pre-bound that we are witnessing. Therfore, I don’t think it will provide any substantial support if we go down as well.

]]> By: Nachiket https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-582 Fri, 28 Sep 2012 03:18:24 +0000 http://fxww.dreamhosters.com/?p=868#comment-582 Got it. thanks. maybe i have to learn the r:r from this month onwards. i risk a lot and mostly get lucky.even if I don’t I recover the loss in next trade

]]> By: Sean Lee https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-580 Fri, 28 Sep 2012 03:09:07 +0000 http://fxww.dreamhosters.com/?p=868#comment-580 Sent you an email Nachiket with member deets, let me know if it doesn’t arrive

]]> By: Nachiket https://fxww.com/lack-of-bad-news-re-spanish-bank-tests-is-causing-short-covering/#comment-577 Fri, 28 Sep 2012 02:49:03 +0000 http://fxww.dreamhosters.com/?p=868#comment-577 Yes. aussie will retrace back to 1.0438. we will take it from there.

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