Where will we sell eurgbp lads?

arabianights · Oct 6, 2010

Everyone with some sense knows the eurozone is a ****hole full of french people and so on. On the other hand we are finally shot of the labour party, and are cracking down on benefits for *****.

So, fundamentally, eurgbp is a screaming short.

But it's still going up, the silly thing.

So where should we sell it? I've tried various locations. I usually get on side pretty well as I'm using both currency technicals and market sentiment to find local turning points, but I inevitably stop myself out as we keep on grinding upwards.

Any ideas?

(Incidentally from a spread betting pov buying gbpeur is actually better as we'll benefit once it starts really moving, but that's by the by.)

N Rothschild · Oct 6, 2010

im gona sell the low tick and buy the high tick to cover

MrGecko · Oct 6, 2010

@mkt on the 20-Oct

arabianights · Oct 6, 2010

Why that? BOE minutes?

MrGecko · Oct 6, 2010

spending review

shadowninja · Oct 6, 2010

I don't trade EURGBP but if you made me pick a level to short, I would say about 0.89 purely from a technical perspective.

Here's where things get sketchy. I saw you post about it hitting 0.7 and if you look on the daily chart it's a nice Bear Channel suggesting it could reach there by end of 2011.

Snag is, there's a **** of a Bull Flag (CoBF) on the weekly chart so if I were a long term trader (I'm not), I'd be more expecting it to go beyond parity and into 1.1 or even 1.2.

If I'm right, you can all bow before me and treat me like a god. Additionally, the CoBF trading phrase can be attributed to me and henceforth should appear in all literature propagated in trading seminars up and down the land. I wouldn't put money on it, mind. If I would, I'd already be long!

squall321 · Oct 7, 2010

english people are biased against europe and against the french
this is because they are secretly jealous of the french and wish they were french

Vorbis · Oct 7, 2010

It will turn at 0.9.

The French make better apples.

scose-no-doubt · Oct 7, 2010

Pixie Lott would f**kin get it

82 is the key isn't it.

Dommo · Oct 7, 2010

cloud321 said:
english people are biased against europe and against the french
this is because they are secretly jealous of the french and wish they were french

Been to the French Med - lovely.
Been to Paris - marvellous city.
Been to Versailles - now that's what I call a palace.
Been to the Alps - the view from the Aiguille du Midi is staggering and is right up there with the Grand Canyon.
Population density approx half that of the UK.

Marvellous, marvellous country, tragically owned by and overrun with [CENSORED]

scose-no-doubt · Oct 7, 2010

I went earlier this year. I've never seen waitresses or bar ladies behave so rudely towards a drunken, obscene foreigner. Disgusting!

Mr Flibble · Oct 8, 2010

I've been long on the French franc for ages and I'm seeing very little volatility. What gives??

French people smell of onions.

They use perfume instead of taking a bath.

Thanks for your attention in this matter.

Chartsy · Oct 8, 2010

i too am looking to short the euro

Prawnsandwich · Oct 8, 2010

scose-no-doubt said:
I went earlier this year. I've never seen waitresses or bar ladies behave so rudely towards a drunken, obscene foreigner. Disgusting!

You obviously weren't raising your voice loudly enough, while speaking English with a French accent or pointing and gesturing clearly enough..

Jason101 · Oct 8, 2010

http://http://www.youtube.com/watch?v=aFwbi666NkE

oildaytrader · Oct 9, 2010

arabianights said:
Everyone with some sense knows the eurozone is a ****hole full of french people and so on. On the other hand we are finally shot of the labour party, and are cracking down on benefits for *****.

.)

The french lessons are exciting and enjoyable, so we go long.

SH-101 · Oct 10, 2010

EUR/GBP ran into an interesting set of tech levels towards the end of last week... several fib retracements/extensions of varying importance, plus weekly 100sma and a trendline.

Personally I'm not looking to get short here as I'm not seeing any of my preferred setups... but I can see why some might look at that cluster of resistance levels and maybe sell a break of the low of last week's doji candle?

forker · Oct 10, 2010

we should have a baseline around 85 where new buyers will meet the market. I think it will range between 85 and 95 until macro events forces it lower or higher. God forbid it breaks parity, there will be enough support to hold it there for some time. One thing to note however, the UK trade to Europe will pick up as a result of the weaker £. It might take a while but the affect will be a stronger £ down the road somewhere.

I wouldnt plan on a holiday to Spain for a while

BlackBison · Oct 12, 2010

0.8840

scose-no-doubt · Oct 13, 2010

Prawnsandwich said:
You obviously weren't raising your voice loudly enough, while speaking English with a French accent or pointing and gesturing clearly enough..

Yes I was! I was even on top of a car once!

Where will we sell eurgbp lads?

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