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EUR/USD - 100 pip jump @ 9:25EST in 5 min???

  • #21
  • Nov 6, 2007 10:28pm Nov 6, 2007 10:28pm
The dollar is not destroyed" nor will it be. The Chinese would not tell you they are dumping dollars until they were already dumped and they are ready to buy dollars. Come on!! Across the board drop, Kneejerk and totally unsound fundamentally.
You know what they say. Buy low sell high, well the dollar is at it's lowest in decades. Come and get em!!!!!
  • #22
  • Nov 6, 2007 10:28pm Nov 6, 2007 10:28pm
Quoting bhale
I guess you can tell I'm short Euro.
I'm with you, and I certainly hope the dollar does come back with a vengeance .... and it needs to happen soon before margin call starts knocking at my door ...
  • #23
  • Nov 6, 2007 10:28pm Nov 6, 2007 10:28pm
Kathy Lien from FXCM keeps saying Euro will touch 1.5 and that AUDUSD will reach parity with US dollar. Only time will tell...
  • #24
  • Nov 6, 2007 10:35pm Nov 6, 2007 10:35pm
Quoting Schminner
I'm with you, and I certainly hope the dollar does come back with a vengeance .... and it needs to happen soon before margin call starts knocking at my door ...
Everybody in the US hopes this. We are just trying to figure out the circumstances that will lead to this. What can it be? I just don't see it.

Correct, the dollar is not destroyed. I was replying to an earlier post. But it is our OWN fault that it is in such bad shape, no matter what terms you use. That was my point.
"Its not where your at, but where your coming from"
  • #25
  • Nov 6, 2007 11:43pm Nov 6, 2007 11:43pm
Quoting Hagbard Celine
Manufacturing losses? What exactly are you talking about? I think that's the least of our worries.
Least of our worries? The loss of the US manufacturing base IS what's driving this ENTIRE financial mess that's happening in the US right now. The US economy is NOT strong like some say. The "growth" the US has seen over the past couple years is not true growth but credit growth. Everyone's been buying on credit to maintain the lifestyles they've grown acustom too. Now the bill is due and US consumers on average aren't making the same wages they were to stay out of debt. Yes, US companies have made some quick profit by sending jobs overseas and they look good to Wall Street but the US consumer is now struggling to buy those goods. This will worsen over the next few years. US CEO's have sold out the US worker for a quick buck on cheap labor. They got their's but they also forgot Henry Ford's view that you need to pay your workers enough to buy your products or eventually no one will be able to buy them. US consumers are to the point now where they're becoming unable to buy those overseas products without credit. An economy can truly grow as a manufacturing economy. We are no longer THE manufacturing economy in the world. China won't need to invade the US, they'll just buy it as they're slowly doing now.
  • #26
  • Nov 7, 2007 1:21am Nov 7, 2007 1:21am
"Destroying" the USD would "destroy" most of those holding reserves. Perhaps "destroy" is too strong of a word. If you destroy the dollar it's almost like holding a worthless check. What would China's reserves be worth if the dollar is destroyed? Now the USD is like a hot potato, who's going to buy it back? The US Treasury?
Patience + Humility + Study = Success
  • #27
  • Nov 7, 2007 4:41am Nov 7, 2007 4:41am
Quoting vipatel
To some extent, american Feds likes the low dollar. They are in no hurry to support it. This is one of their stretagy to solve the economic problems
Yes, has anyone thought about the strategy of weekening the dollar to force China to raise its yaun value? Most of the world would prefer a higher Chinese yaun. Just have had the thought, wondering if anyone else has?
  • #28
  • Nov 7, 2007 5:25am Nov 7, 2007 5:25am
Read this to see why the dollar likely must be devalued (yes, at the hands of the U.S. Government and the Fed) in a major way:


$2 Million Per Household Means Doom For Dollar (http://www.safehaven.com/article-8738.htm)
Is your SL my TP?
  • #29
  • Nov 7, 2007 7:02am Nov 7, 2007 7:02am
Looks like USD might devalue up to 50% over the next coming years ...

http://www.esnips.com/doc/555f333a-f036-4422-87db-2ce17f9472a1/usd-index

Hope USD rebounds soon in the very near term otherwise I too am faced with margin call for
long USD/CAD today at 0.9150
and short EUR/USD at 1.4550

Any thoughts? Should have traded with the trend!
  • #30
  • Nov 7, 2007 7:12am Nov 7, 2007 7:12am
Quoting HipsterPipster
Agreed, as I think most of us believe the obvious choice for China would be the euro.
That's not such a slam dunk. Both the Aussie and Kiwi will return ,much higher bond yields and their economies in the near term are more robust than the EU. I'd expect to see some diversification into the Euro but I see the Aussie, Kiwi, and Loonie all benefiting from this.
  • #31
  • Nov 7, 2007 7:20am Nov 7, 2007 7:20am
Quoting athalon7
The world did not destroy the dollar, the US has destroyed the dollar. Read what Mr. Pat Buchanan says about it, and he is right. Its NAFTA. Pero was right. That giant sucking sound took manufacturing from this country, and we have been spending wayyyyy too much.

My gut is Bernanke is going to say something on Thursday to try and calm the situation so I look for a small pullback. I am going to hedge my profits.

http://www.wnd.com/news/article.asp?ARTICLE_ID=58476
You can't fight the economic forces currently in place in the world. U.S. manufacturers can't compete on a cost basis with countries like China, Viet Nam, the Phillipines, etc. The same thing is happening up the job later with information technology and other service related jobs. It's simply the economic theory of Comparitive Advantage at work. If U.S companies didn't go offshore with it's manufacturering and other cost competitive jobs other companies outside of the U.S. would and then sell their goods here in the U.S.

We are in the midst of an economic restructuring similar to what we went through in the 1980's. The best thing you can do is understand the new economic dynamics and situate yourself to take advantage of them. Fortunately FOREX allows you to do this.
  • #32
  • Nov 7, 2007 7:37am Nov 7, 2007 7:37am
Did anyone hear about the "amero" new currency for the North Am Union?

I got this link, very interesting... may expalin what why we see what we see on the market:
http://www.slide.com/r/jFxUMhRM0D_wRgrbIbsgYJ3F6qVDHMdh
  • #33
  • Nov 7, 2007 8:18am Nov 7, 2007 8:18am
Quoting joey007
Looks like USD might devalue up to 50% over the next coming years ...

http://www.esnips.com/doc/555f333a-f036-4422-87db-2ce17f9472a1/usd-index

Hope USD rebounds soon in the very near term otherwise I too am faced with margin call for
long USD/CAD today at 0.9150
and short EUR/USD at 1.4550

Any thoughts? Should have traded with the trend!
Too late for me, death (aka margin call) came knocking at my door this morning ... it's time for me to leave this pair ....
  • #34
  • Nov 7, 2007 5:48pm Nov 7, 2007 5:48pm
it's not a good feeling with margin call.
i've died many times over with my account being blown a number of times.
still no breakthrough
I've bought a put option on EUR/USD

Quoting Schminner
Too late for me, death (aka margin call) came knocking at my door this morning ... it's time for me to leave this pair ....
  • #35
  • Nov 7, 2007 6:10pm Nov 7, 2007 6:10pm
Quoting rabi35
Kathy Lien from FXCM keeps saying Euro will touch 1.5 and that AUDUSD will reach parity with US dollar. Only time will tell...
do not listen to stupid people.
  • #36
  • Nov 7, 2007 6:54pm Nov 7, 2007 6:54pm
Quoting mry2001
do not listen to stupid people.
In the Forex market, you really can't listen to anyone or anything ...
  • #37
  • Nov 7, 2007 7:11pm Nov 7, 2007 7:11pm
What currency is safe? Have to wonder what gold will look like in year. Maybe it will all be in china. Haha
  • #38
  • Nov 7, 2007 8:33pm Nov 7, 2007 8:33pm
Quoting Schminner
In the Forex market, you really can't listen to anyone or anything ...

Those are wiser words than you know.
  • #39
  • Nov 7, 2007 8:49pm Nov 7, 2007 8:49pm
Quoting ce_me_flow
You can't fight the economic forces currently in place in the world. U.S. manufacturers can't compete on a cost basis with countries like China, Viet Nam, the Phillipines, etc. The same thing is happening up the job later with information technology and other service related jobs. It's simply the economic theory of Comparitive Advantage at work. If U.S companies didn't go offshore with it's manufacturering and other cost competitive jobs other companies outside of the U.S. would and then sell their goods here in the U.S.

We are in the midst of an economic restructuring similar to what we went through in the 1980's. The best thing you can do is understand the new economic dynamics and situate yourself to take advantage of them. Fortunately FOREX allows you to do this.
I understand and that is the whole point behind the article by Pat Buchanan. When the borders opened up to free trade it completely undermined American manufacturing base for reasons you stated as well as foreign regulations are lax concerning the environment, etc. Manufacturing will move to where they can be more competitive and its understandable. Its the policy that drives them that can be criticized.

So here in lies the problem. You can cite government statistics all you want, but the only way to get out of a recession is to grow out of it. Hard to do with a gutted manufacturing base.

Some don't like the restructuring toward global free trade you speak of. Some feel that it undermines the sovereignty of a nation at the expense of economics. You are correct, what you are witnessing is a global shift. It has been written about.
"Its not where your at, but where your coming from"
  • #40
  • Nov 7, 2007 9:24pm Nov 7, 2007 9:24pm
joey007,
Just buy the same amount you are short. You lock in your loss. No extra margin. It sounds bad when I say lock in your loss, but you won't get a margin call. I did that last night when the EURUSD went up so fast, as I am short around 1.4250. Woke up with the buys up. I was wanting just a hedge so I put stop loss at breakeven and watched it close. It came down and cancelled my hedge. Now I'm still able to hold on looking for some sanity in the market. I will put on another hedge tomorrow as buy stop 25 pips above the price. I will do this before the ECB rate announcement and pray for a drop in rates. You can take it off later. And if all these pundits and traders are right, then it will climb back later.

If I remember correctly, Trichet doesn't ike the euro too strong.
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