where is all this Dollar weakness coming from? | Page 4 | Forex Factory

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where is all this Dollar weakness coming from?

  • #61
  • Nov 17, 2006 10:40am Nov 17, 2006 10:40am
Quoting iiivb
Let's chill-out boys!

According to my news service, it appears that maybe some loosing long-positioned oil-related hedge-funds had something to do with this dollar dip... but... THAT DOES NOT MEAN ANY REVERSAL... we should wait until next week to see market reaction...

According to my point of view.. maybe this was the correction the dollar needed just to continue with the uptrend... but only "big-boys" going to decide that... in the meanwhile... if someone lost money today... just relax and wait until tuesday to trade...
I agree, most of all with the correction of the dollar, the pound and the euro are way to weak at the moment
Pip Goes The Weasel
  • #62
  • Nov 17, 2006 10:43am Nov 17, 2006 10:43am
NWO sagely advice thanks
  • #63
  • Nov 17, 2006 10:45am Nov 17, 2006 10:45am
Quoting jacko
By the way, I don't usually trade like this.
I used to but the "rush" isn't good for my heart

I am a medium to long term trader
This reminds me of earlier times on another forum.

thats what I love about this business...it still gives me a rush to do a quick spec trade...

GBP just dropped to 8929 and falling

Euro just followed 2818
  • #64
  • Nov 17, 2006 10:47am Nov 17, 2006 10:47am
usd yen seems to be pulling back up as well...
  • #65
  • Nov 17, 2006 10:53am Nov 17, 2006 10:53am
The hedge fund with a losing oil position could be it because it seems like the big dip in oil was taking place around the same time, oil at 55 bucks a barrel.
  • #66
  • Nov 17, 2006 11:00am Nov 17, 2006 11:00am
food for thought... possible expanded flat temporary corrective pattern in downtrend... consisting of abc correction...
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  • #67
  • Nov 17, 2006 11:50am Nov 17, 2006 11:50am
well EURUSD is not going down the way i expected ..guess we have to wait till next week .... this just spoils my shorts
  • #68
  • Nov 17, 2006 12:34pm Nov 17, 2006 12:34pm
We shall see next week, I think it is a correction in the pound and the euro and a change in this weeks downtrend.

Just my thoughts
Pip Goes The Weasel
  • #69
  • Nov 17, 2006 12:49pm Nov 17, 2006 12:49pm
The Dollar had weak news for most of this week yet it gained. Obviously the big boys were fading the weak news, the same thing happened last month, then we had this massive strength in the Euro from the 1.2500 area after last months Fed minutes - people created rumours that the Fed will produce a Hawkish statement and this provided some with an opportunity to sell the Euro and Cable - but after the Dovish minutes were released people saw it as an oppotunity the "buy the rumour, sell the fact"

Whatever the reason for this Dollar weakeness there will always be someone saying it was due to X, Y, or Z - the truth is that you should trade what you see not what others tell you.

With regards to someone saying that this recent weakeness was due to news from Iraq, well I doubt it as there is always bad news from Iraq at the moment.
  • #70
  • Nov 17, 2006 12:54pm Nov 17, 2006 12:54pm
true...
  • #71
  • Nov 18, 2006 3:22am Nov 18, 2006 3:22am
Quoting treberk
The Dollar had weak news for most of this week yet it gained. Obviously the big boys were fading the weak news, the same thing happened last month, then we had this massive strength in the Euro from the 1.2500 area after last months Fed minutes - people created rumours that the Fed will produce a Hawkish statement and this provided some with an opportunity to sell the Euro and Cable - but after the Dovish minutes were released people saw it as an oppotunity the "buy the rumour, sell the fact"

Whatever the reason for this Dollar weakeness there will always be someone saying it was due to X, Y, or Z - the truth is that you should trade what you see not what others tell you.

With regards to someone saying that this recent weakeness was due to news from Iraq, well I doubt it as there is always bad news from Iraq at the moment.
very true, wise words there treberk
Pip Goes The Weasel
  • #72
  • Nov 22, 2006 8:41am Nov 22, 2006 8:41am
Quoting jacko
Summary

sold gbp at 8965 stop at 9050 target not set yet stops moved to to 8950
sold euro at 2838 stop at 2860 target not set yet stops moved to to 2836
Result from this trade last week was only 17 pips profit (within maybe 5-6 hours of trading).

Still, better than a loss...
  • #73
  • Nov 22, 2006 9:05am Nov 22, 2006 9:05am
But I was not sure as when the turn around would be..

I made 30 pips in it this morning.. but lost yesterday in EUR-CHF about the same amout.

So neither happy nor broken.

Still new - kid in the block.
  • #74
  • Nov 22, 2006 9:34am Nov 22, 2006 9:34am
At some point, this dollar weakness will correct itself. This is ridiculous!
  • #75
  • Nov 22, 2006 9:43am Nov 22, 2006 9:43am
Why is the EUR/USD going up? I think this move is WAY WAY WAY overdone...This happens in the holiday weekend, the pair always goes in one direction that I have seen so far...I stayed out of this pair because I thought it was going down...WOW!!! Could've made a lot of money on this move...Why do you all think this move is exaggerated frustrated EUR bulls tryna make a move up? What is ya'lls (Texas slang) opinion?

Also the U of M Consumer came in -0.2%...A little increase but this year I think Consumer Confidence is going to go up because wages have increased with falling gas prices causing people to spend more at the retail stores and plus with all the new gadgets coming out...I think the dollar will rebound, but that is a guess what do you guys think?
  • #76
  • Nov 22, 2006 10:19am Nov 22, 2006 10:19am
there has been some talk for a while that CBs are selling the buck. now everybody else is too. a lot of dollar longs have been burned I suppose.
  • #77
  • Nov 22, 2006 10:27am Nov 22, 2006 10:27am
be aware that this could be a major position liquidation and stop taking week and the usd weakness short lived. when is the best time to go short eurusd? when everybody else is long. euro and some other pairs like to burn stuff. ceate a spike above highs, take out stops and then fall like a rock.
  • #78
  • Nov 22, 2006 10:36am Nov 22, 2006 10:36am
piccolo good point i think its setting up now for that...
  • #79
  • Nov 22, 2006 10:38am Nov 22, 2006 10:38am
theres was too much dollar neg data out this past week it really didnt help the dolalr was moving along fine until the housing data reared its ugly head that catalyst shifted everything...
  • #80
  • Nov 22, 2006 10:39am Nov 22, 2006 10:39am
I'm sooooo nervous to long the $ rite now. The rumor said the Fed might start to lower interest rate next year. The target will be 4%. And if this were true, 2004 dollar's weakness would come back. The Euro would hit the highest of 1.36. The cable would hit the highest of 1.95 area. So, I think we all have to be careful on this one.

Anyway, this is solely my opinion.
"Even the word impossible says that I M possible"
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