The housing data was horrible with a 14.6% drop in starts for October while permits fell 6.3% and the data was a dollar negative factor. The dollar has been wounded by reports that a large hedge fund is in trouble. Overall, however, EUR/USD is likely to be blocked at 1.2845 with a move back to 1.2790.
Thats what did it today folks... haha lets see if these levels hold... TGIF...
Ignored
And why it takes about 45 mins to react on the housing data?
Why not 8.30 NY
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Joined Sep 2006
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Status: "Full Time PIP Collector"
|115 Posts
Everything I am looking at tells me the move is coming to a halt. Euro and pound overbought, Swissy oversold. If we don't trip more stops at the London fix we should see a healthy retrace. I am counting on it. Already closed and reversed on all three. Take it for what it is worth !!
u kow what i see here, without any hindsight quite possibly after all this crap subsides we could (maybe not today) get a push back down to complete another wave or leg down on both the euro and gbp, the market is basically trying to destroy strong resistance levels if they cant be broken longs will exit thereby driving prices backdown, then short will jump back on and push prices even lower... just some speculation regarding price movment... ;-)
Everything I am looking at tells me the move is coming to a halt. Euro and pound overbought, Swissy oversold. If we don't trip more stops at the London fix we should see a healthy retrace. I am counting on it. Already closed and reversed on all three. Take it for what it is worth !!
At 9:15 ET this news story hit the wires, the exact time the USD was penalised about 50 pips instantly on the majors in unstable price spikes. This news story happened to co-incide with the time and price when we predicted a reversal of the major currency pairs towards a decline in the USD:
Troops hunt for kidnapped contractors
<script language="JavaScript" type="text/javascript"> <!-- if ( location.hostname.toLowerCase().indexOf( "edition." ) != -1 ) { document.write('POSTED: 1415 GMT (2215 HKT), November 17, 2006'); }else { document.write('POSTED: 9:15 a.m. EST, November 17, 2006'); } //--> </script><!-- /date -->POSTED: 9:15 a.m. EST, November 17, 2006
• NEW: One kidnapped American identified as Paul Reuben of Minnesota
• NEW: Drivers of South Asian origin were taken, later released, firm says
• Convoy ambushed at checkpoint in southern Iraq, military spokesman says
• Arrest warrant issued for leading Sunni cleric, an Iraqi military official says
BAGHDAD, Iraq (CNN) -- Coalition forces Friday were searching "aggressively" for five security contractors, including four Americans, who were abducted Thursday during an ambush on their convoy, a military source said.
A spokesman for Crescent Security Group said five of their security personnel were "unaccounted for." The contractors disappeared near Basra on Thursday afternoon.
He identified one of the Americans as Paul Reuben, a Minnesotan, and said the fifth contractor was an Austrian national.
A spokeswoman for the Austrian foreign ministry in Vienna said the Austrian was a 25-year-old male from Upper Austria, according to The Associated Press.
The supply convoy was traveling from Kuwait, where Crescent operates, to Tallil Airbase near Nasiriya in southern Iraq when it was ambushed, the Crescent spokesman said.
Local militia masquerading as Iraqi police attacked the convoy, using a fake police checkpoint, according to a military source....
the crappy part is when the news actually reverses everything and turns your whole strat or plan into shit guess that part of trading probabilties wins and losses... ;-)
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