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forex - how it works...
Hi mibl, Thanks for your explanation. To be clear, all usd pairs have to be going in the same direction otherwise trading, for example, gpbusd short based on catfx today might been a false signal.
Hi Dave1,
Nina explained it shortly before me.
In general:
See that forex is based on pairs in several combinations. So every chart you see in forex represents a relationship between two currencies. The representation depends on what currency is the first in the pair.
Take i.e. the three currencies EUR, GBP and USD.
--> pairs in forex therefore are EURGBP, EURUSD, GBPUSD
If you have a strong EUR you can see EURGBP and EURUSD going up as it is stronger than GBP and USD, which amount depends on each strength.
If you have a strong GBP you can see EURGBP going down (because of EUR ist weaker than GBP) and GBPUSD going up (because USD is weaker than GBP).
But that is an easy explanation because of there are a lot of other pairs and so a lot of other relationships between currencies with weakness and strength.
Yesterday:
The picture yesterday was that EURGBP was raising up, EURUSD was going up too and GBPUSD was going down. That means GBP is weaker and USD is stronger than GBP. --> What means that for the USD?
The "normal" (which means mostly) correlation is when GBPUSD ist going up, EURUSD is going up too (and for the other direction the same.)
best regards
mibl
EURUSD, no signal.
USDCHF. no signal.
GBPUSD, level 2 buy (09:30cet) at 1.7546. Made a high at 1.7559.I have a Level2 Sell for CHF..Opening Price at 1.2855, sold at 1.2847
I have a Level2 Sell for CHF..Opening Price at 1.2855, sold at 1.2847
Hi, Lazy!
It is not a "regular" Level 2 Sell. You need at least one bar opening above EMA50 here.
But some people play the bounces.
Nina
Hi!
Today's signal so far:
EURUSD, no signal.
USDCHF. no signal.
GBPUSD, level 2 buy (09:30cet) at 1.7546. Made a high at 1.7596. + 50 pips.
Today we have
13:00 BoE Rate announcement, expected unchanged at 4.50%
13:45 ECB Rate announcement, expected unchanged at 2.50%
14:30 ECB Press Conference (Trichet)
Big pockets are long EUR. Lets see what Trichet does and say.
Take care.
Nina
Thanks for clearing that up:) Simple yet elegant
Fa Provider
Hi!
Today's signal so far:
EURUSD, no signal.
USDCHF. no signal.
GBPUSD, level 2 buy (09:30cet) at 1.7546. Made a high at 1.7596. + 50 pips.
Today we have
13:00 BoE Rate announcement, expected unchanged at 4.50%
13:45 ECB Rate announcement, expected unchanged at 2.50%
14:30 ECB Press Conference (Trichet)
Big pockets are long EUR. Lets see what Trichet does and say.
Take care.
NinaHi Nina ,
Can you post the link to a useful Foundamental Anouncement Provider,
thanx for ur reply and congratulations for what an amazing thread,
Hi Nina ,
Can you post the link to a useful Foundamental Anouncement Provider,
thanx for ur reply and congratulations for what an amazing thread,Hi!
http://mam.econoday.com/calendar/US/EN/New_York/year/2004/month/01/day/05/daily/index.html
http://www.forexfactory.com/
Nina
Nina,
Why you have stoped to put chart of trade here, earlier you used to attach it.
Hi viennatrader,
1. set aNina - cbars to 9.000
2. go back in history of the chart so that more than 9.000 bars are shown
3. look at your currency pair. You attached a chart of euraud - my chart you supposed to have diferences in the indicators was usdgbp ?!?
miblThanks, changed the cbars and it works now....sorry for mixing up the pairs :-(
Is anybody going to sell GBP/USD?