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  • #1,461
  • May 14, 2007 1:52am May 14, 2007 1:52am
I think i'll go short today for TP 1.3500.
  • #1,462
  • May 14, 2007 2:01am May 14, 2007 2:01am
I still believe it will hit 1.36.

One of my friend in the states mentioned that the US economy is slumped quite badly when EUR's Prime Minister declared of stepping down next month. On top of that, the US Government has to fund a bill of billions of dollar in Iraq War. As a result, the US Government is suffering lots of pressure to get funds to fund the Iraq War.

I don't know how true it is.

Anyone with any opinion or say?
  • #1,463
  • May 14, 2007 2:45am May 14, 2007 2:45am
Quoting markpro
I still believe it will hit 1.36.

One of my friend in the states mentioned that the US economy is slumped quite badly when EUR's Prime Minister declared of stepping down next month. On top of that, the US Government has to fund a bill of billions of dollar in Iraq War. As a result, the US Government is suffering lots of pressure to get funds to fund the Iraq War.

I don't know how true it is.

Anyone with any opinion or say?
The US ecoomy doesn't give a flying #$%^& about Blair, and bruhaha about iraqi war bil is just a bunch of grotesque posturing between the President and the Congress.
  • #1,464
  • May 14, 2007 2:49am May 14, 2007 2:49am
Will that affect the currency status?
  • #1,465
  • May 14, 2007 3:04am May 14, 2007 3:04am
Unless you guys trade off the weekly/monthly chart, dont pay too much attention to the Iraq war, deficit and whatnot guys. Considering such a long term macro-economic data when trading off smaller time frames might cloud what you actually see on the charts.
  • #1,466
  • May 14, 2007 3:14am May 14, 2007 3:14am
WTB

Thanks for the advise!

I appreciate that very much!
  • #1,467
  • May 14, 2007 4:34am May 14, 2007 4:34am
Markpro: as a percentage of GDP, the Iraq War is the cheapest in US history. Most people have no idea how big the US economy is. The current "slump" is based on 10% of the housing market. The rest of the economy is doing ok.
  • #1,468
  • May 14, 2007 5:21am May 14, 2007 5:21am
Irish37

Thanks for your advise... Correct me if I'm wrong, one of the trader I met mentioned to me that the forex market has a direct impact on the war.

Is this true?
  • #1,469
  • May 14, 2007 6:15am May 14, 2007 6:15am
Quoting markpro
Correct me if I'm wrong, one of the trader I met mentioned to me that the forex market has a direct impact on the war.

Is this true?

markpro,

it's the other way around - the war has / would have an impact on the market. The main reason is in case of a war people tend to transfer their money into something more secure like gold, ect. On the other side if US is involved in any future war most likely will survive and that I'd say it's dollar positive.
  • #1,470
  • May 14, 2007 7:30am May 14, 2007 7:30am
Quoting IRISH37
Markpro: as a percentage of GDP, the Iraq War is the cheapest in US history. Most people have no idea how big the US economy is. The current "slump" is based on 10% of the housing market. The rest of the economy is doing ok.
some economist consider that now us economy is in a stagflation phase. Prices are growing and economic growth is slowing. I think there are also problems with unnemployment and consumer confidence.
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #1,471
  • May 14, 2007 11:55pm May 14, 2007 11:55pm
Some of you folks need to come up with "friends" who are a little better versed in the realities of the current US economic situation. "Problems with the unemployment rate??? The US is currently experiencing a rate of 4.5% ( http://jobsearchtech.about.com/gi/dynamic/offsite.htm?site=http://stats.bls.gov/ ) which historically is very low, and in fact, about as close as one can come to full employment. There may be a number of things wrong with the US economy, but unemployment is not one of them.
  • #1,472
  • May 15, 2007 5:01am May 15, 2007 5:01am
Since 1st of May 07 EURO has not only started to drop against the USD, it also started to drop against the JPY. While USD is up against the JPY.

EUR < USD
EUR < JPY
USD > JPY


I went short this morning on EUR/USD.
  • #1,473
  • May 15, 2007 5:16am May 15, 2007 5:16am
very well done and good logic


Quoting AmatPro
Since 1st of May 07 EURO has not only started to drop against the USD, it also started to drop against the JPY. While USD is up against the JPY.

EUR < USD
EUR < JPY
USD > JPY


I went short this morning on EUR/USD.
  • #1,474
  • May 16, 2007 3:25am May 16, 2007 3:25am
EUR French Nonfarm Employment q/q http://www.forexfactory.com/images/m...act_medium.gif 0.6%
0.3% 0.2%



Cannot understand why the Euro/USD went down in the hour
of this positive release.
  • #1,475
  • May 16, 2007 3:45am May 16, 2007 3:45am
Quoting AmatPro
Since 1st of May 07 EURO has not only started to drop against the USD, it also started to drop against the JPY. While USD is up against the JPY.

EUR < JPY

I perpetually wonder about the different perspectives on the market
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Trust price. Know yourself.
  • #1,476
  • May 16, 2007 8:44am May 16, 2007 8:44am
Quoting SeekingLight
I perpetually wonder about the different perspectives on the market
Well, right after I posted my comments about the EURJPY, it broke through the 2 week old 'trendline'...

  • #1,477
  • May 16, 2007 1:13pm May 16, 2007 1:13pm
I think the 1.3610 will be a major resistance for the euro in the days to come.(it is close to the 1.3633 78.6% fib level April high - May low) For the last couple of days it was the daily high, moreover it was the highest level the price visited since May 2nd. A break through 1.3610 and 1.3633 will result in a major euro rally.

Happy trading,
Steve

----------------------
ForexSource - FX resources and trading strategies
  • #1,478
  • May 16, 2007 4:05pm May 16, 2007 4:05pm
Quoting Turhovach
Some of you folks need to come up with "friends" who are a little better versed in the realities of the current US economic situation. "Problems with the unemployment rate??? Twhich historically is very low, and in fact, about as close as one can come to full employment. There may be a number of things wrong with the US economy, but unemployment is not one of them.
???????????????????????
some of you folks need to take some economic clasess, or invent "friends" who are a liiter better verser in economics.
it's not so hard to get it, if US unemployment rate is at it's low there will be problems with incomes. if there are so many employed people there is no one to left to hire thus leading to bigger salary and leding to inflation, which the fed is fighting, at least at the time i wrote that coment (it's suply-demand, a very basic principle, hard to undersand for some).
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #1,479
  • May 17, 2007 8:12am May 17, 2007 8:12am
to suport my reply

"There have been signs of increased skill shortages, which would explain slow employment growth but not a fall in employment. We fear that we are not yet out of the woods, with skills shortages pointing to the continued threat of higher wages at the start of next year."
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #1,480
  • May 24, 2007 3:30am May 24, 2007 3:30am
some analysis...might be on an extended retracement.
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