Proper Prior Planning Prevents Piss Poor Performance

USD/JPY Trading Room 34 replies
EUR/GBP Trading Room 374 replies
EUR/JPY Trading Room 876 replies
USD/CAD Trading Room 470 replies
DislikedRight now-we have DX index that has broken 80-a very important psychological level. The fed lowered the overnight rate to 4.86% on Friday(last date for which the fed publishes info). Trichet and some of the other ECB's have mentioned that they're not finished tightening and Trichet himself labled monetary policy "accomodative".
It's no big mystery here that everyone and their grandmother is eyeing 1.3852 (all time high). Odds are that EUR/USD will work it's way slowly towards that area where it will likely find some resistance. It could test there a few times before breaking thru. No doubt that a sustained break will have everyone talking about 1.40 especially if it breaks the all time high, retraces and then finds support.Ignored
DislikedMost of my analysis shows a the dollar making huge gains against the Euro. Which, from a dollar stand point, doesn't make any sense. However, given that there are two sides to the pair, as Halifax pointed out, the euro is somewhat fragile as well. There is also a very big player betting that the euro markets will crash.
http://www.financialnews-us.com/?pag...tid=2448565379Ignored
Dislikedthe concurrent equity unwind will drive the pair much lower-perhaps to where it began 2007 (1.30 area)Ignored
DislikedI am looking for another rally before a significant bearish correction. I am looking at 1.4000-1.4050 as a top. There is a significant weekly trend line up in that range.
DaveIgnored