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  • #6,141
  • Apr 2, 2008 7:44am Apr 2, 2008 7:44am
I agree with FX Genius. This down move may not hold. Like Jurrasic noted earlier, we may range between the fibs for now.
  • #6,142
  • Apr 2, 2008 8:00am Apr 2, 2008 8:00am
Quoting Trade4Cash
I agree with FX Genius. This down move may not hold. Like Jurrasic noted earlier, we may range between the fibs for now.
EU Will visit back 1.5550 to 1552 area .. then will reload fro further upside moves.. I will wait and see, if saw any reversal sign i will join it..
Happy trading..
  • #6,143
  • Apr 2, 2008 12:51pm Apr 2, 2008 12:51pm
I favour a downwards move as well unless of course price breaks through now.. But below 555 I doubt..
On the path to Enrichment.
  • #6,144
  • Apr 2, 2008 1:26pm Apr 2, 2008 1:26pm
For what its worth from a newb like myself, i think it will bounce up once reached 1.5416..
  • #6,145
  • Apr 2, 2008 1:29pm Apr 2, 2008 1:29pm
Does anyone know when the next interest rate cut/hike by the Feds will be ???
  • #6,146
  • Apr 2, 2008 1:52pm Apr 2, 2008 1:52pm
Quoting Schminner
Does anyone know when the next interest rate cut/hike by the Feds will be ???
oh give me a break! cant be bothered to look at this very website, can you? click CALENDAR.

sheesh.
  • #6,147
  • Apr 2, 2008 2:00pm Apr 2, 2008 2:00pm
so everyone got excited when ADP was good, had a little spike. now its back to business as usual with the dollar loosing ground because Bailout-Ben mumbles a sentence with a lowercase "R"...
  • #6,148
  • Apr 2, 2008 2:25pm Apr 2, 2008 2:25pm
good job bernanke... gold again above 900...
they don't want the dollar to recover
they need a weak dollar for some reason
  • #6,149
  • Apr 2, 2008 3:02pm Apr 2, 2008 3:02pm
Quoting emda
good job bernanke... gold again above 900...
they don't want the dollar to recover
they need a weak dollar for some reason
Let's see how far our longs can go for! 1.6200 in sight!
  • #6,150
  • Apr 2, 2008 5:05pm Apr 2, 2008 5:05pm
Quoting emda
good job bernanke... gold again above 900...
they don't want the dollar to recover
they need a weak dollar for some reason

I can totally see that. A few years back they started pushing the strong dollar agenda, which was actually to make the US economy stronger, by making US goods competitive thru a weaker dollar. Looks like it might be rolling along.
  • #6,151
  • Apr 2, 2008 5:24pm Apr 2, 2008 5:24pm
Quoting Fx_Genius
I don't know if it will happen. Charts say sideways to up at the moment for long channel - up (Purple), mid wedge with time to spare, but bottom line almost same as long trend (Yellow) & short time lines up even with drop (Red/Green).....
I hate it when I'm right and didn't get in. Maybe next time if I don't have an ER visit (not me) that doesn't take all day I can get in and follow it. Wasn't going to get in and not be able to watch it for a while.
  • #6,152
  • Apr 2, 2008 6:02pm Apr 2, 2008 6:02pm
Quoting emda
good job bernanke... gold again above 900...
they don't want the dollar to recover
they need a weak dollar for some reason
guys.. dollar weaknes is a GOOOOD thing for USA at the moment..

Oil has limited reserves and in 15-20 years other products will take over oil and oil's demand will not be very high. At this moment USA controls pretty much most of the oil reserves in the world. When dollar goes down oil goes up. Since at the moment oil is number 1 resource for many things the demand will never be low even with the high prices. So usa gets tons of money by selling oil at a very very high amount. Meanwhile dollar gets dumped. BUT this helps USA's goods to be sold overseas since many people favor american products at the moment since US dollar is low in value. So it is a win win situation for USA.

High oil price - USA earns lots of money
Low US DOllar - Better exporting for USA which is also good for the ecomony.

The people whom suffer now are the mid class in USA whom loose their jobs. Rich gets richer at this moment and poor well poor is always poor.
  • #6,153
  • Apr 2, 2008 6:15pm Apr 2, 2008 6:15pm
Quoting Bernanke_Sr
The people whom suffer now are the mid class in USA whom loose their jobs. Rich gets richer at this moment and poor well poor is always poor.
rich gets richer.... always the same story...

I agree with you... it sounds a good plan. Then what can you do with tons of devaluated paper ? What's the plan to restore dollar value then?

maybe that's why China keeps saving more and more dollars each year.
  • #6,154
  • Apr 2, 2008 6:18pm Apr 2, 2008 6:18pm
Quoting emda
rich gets richer.... always the same story...

I agree with you... it sounds a good plan. Then what can you do with tons of devaluated paper ? What's the plan to restore dollar value then?

maybe that's why China keeps saving more and more dollars each year.
USA will restore its currency after few months perhaps a year later than the elections. plus an iraq withdrawal. This will all fix the mortgage issues as well.
  • #6,155
  • Apr 2, 2008 6:20pm Apr 2, 2008 6:20pm
Bernanke Sr,

Your conclusion is completely backwards...
Dangerously negative US trade balance is roughly equal to the prices of all the oil the USA has to import. For a non-producing retail economy (like the USA and the UK) cheap currency means uncontrollable inflation due to rising prices of imported commodities (goods and raw materials). Just wait a little, and cheap junk from China won't be so cheap anymore. Your logic was right in the Cold war era and before globalization. As for control of the oil worldwide - not even in Iraq...
"Luxury is one of the basic needs", (c), Don Corleone
  • #6,156
  • Apr 2, 2008 8:25pm Apr 2, 2008 8:25pm
Quoting Bernanke_Sr
guys.. dollar weaknes is a GOOOOD thing for USA at the moment..

Oil has limited reserves and in 15-20 years other products will take over oil and oil's demand will not be very high. At this moment USA controls pretty much most of the oil reserves in the world. When dollar goes down oil goes up. Since at the moment oil is number 1 resource for many things the demand will never be low even with the high prices. So usa gets tons of money by selling oil at a very very high amount. Meanwhile dollar gets dumped. BUT this helps USA's goods to be sold overseas since many people favor american products at the moment since US dollar is low in value. So it is a win win situation for USA.

High oil price - USA earns lots of money
Low US DOllar - Better exporting for USA which is also good for the ecomony.

The people whom suffer now are the mid class in USA whom loose their jobs. Rich gets richer at this moment and poor well poor is always poor.
The middle class who still have jobs are starving themselves. Food is the first to take a budget cut of all the essentials. I know guys spending 20% of their net pay on fuel getting to jobs.

Record # of people delaying retirement.(baby boomers).

High oil prices = USA's slow death Fat cat ass holes get fatter while the other 90% lose every thing they have.
Low US dollar = You'll have to export everything, because Americans can no longer afford any thing at all.


Thats the problem, people in power have no clue what the real world America is really suffering.

Not to mention all the peoples credit getting ruined from defaulting on loans, because its all going into the gas tank.
  • #6,157
  • Apr 2, 2008 8:35pm Apr 2, 2008 8:35pm
Quoting xxDavidxSxx
The middle class who still have jobs are starving themselves. Food is the first to take a budget cut of all the essentials. I know guys spending 20% of their net pay on fuel getting to jobs.

Record # of people delaying retirement.(baby boomers).

High oil prices = USA's slow death Fat cat ass holes get fatter while the other 90% lose every thing they have.
Low US dollar = You'll have to export everything, because Americans can no longer afford any thing at all.


Thats the problem, people in power have no clue what the real world America is really suffering.

Not to mention all the peoples credit getting ruined from defaulting on loans, because its all going into the gas tank.
Hmmm... solution: buy domestic hybrid cars. Which is totally reasonable to most middle class Americans, and I can see an increase in these every day.

I believe it was Bernake Sr who mentioned fuel alternatives will be coming, and he is quite right. I expect to see lithium battery cars within 10 years, and from what I understand, they will be reasonably priced, and incredibly efficient (electricity is cheaper than gas, and renewable).
  • #6,158
  • Apr 2, 2008 8:42pm Apr 2, 2008 8:42pm
Quoting Firstboss
Bernanke Sr,
For a non-producing retail economy (like the USA and the UK) cheap currency means uncontrollable inflation due to rising prices of imported commodities (goods and raw materials).
Please bear with me, I am relatively new to this. I can uderstand inflation due to higher import prices but what exactly do you mean by "non-producing retail economy"? I mean the fact that you need to import raw materials shows that you are producing things right?
  • #6,159
  • Apr 2, 2008 8:45pm Apr 2, 2008 8:45pm
Quoting kharvell
Hmmm... solution: buy domestic hybrid cars. Which is totally reasonable to most middle class Americans, and I can see an increase in these every day.

I believe it was Bernake Sr who mentioned fuel alternatives will be coming, and he is quite right. I expect to see lithium battery cars within 10 years, and from what I understand, they will be reasonably priced, and incredibly efficient (electricity is cheaper than gas, and renewable).

The only reason were paying so much for gas are our own governments taxes. And the state. Here in Charlotte NC its 3.40. Just 10 miles away barely across the SC border its 3.20 in a tourist section right across from Carowinds.

20 cents difference just from state taxes. I don't want a hybrid. I have a 300zx twin turbo.
Aren't the Saudies paying 37 cents for fuel? Why do we pay so much?

Because being a millionair, or just a billionair isn't enough. They want more more more. While the rest go broke.

What if An oil executive spent 20% of his income on gas. What do think that figure would be.

The people in office don't give a rats ass. They have been making 6 and 7 figures so long they can not possibly be in touch with "real world" middle class problems.

Small businesses are going under too like one of my friends, as a direct result of gas prices, and no home sales.
  • #6,160
  • Apr 2, 2008 8:59pm Apr 2, 2008 8:59pm
Quoting xxDavidxSxx
The only reason were paying so much for gas are our own governments taxes. And the state. Here in Charlotte NC its 3.40. Just 10 miles away barely across the SC border its 3.20 in a tourist section right across from Carowinds.

20 cents difference just from state taxes. I don't want a hybrid. I have a 300zx twin turbo.
Aren't the Saudies paying 37 cents for fuel? Why do we pay so much?

Because being a millionair, or just a billionair isn't enough. They want more more more. While the rest go broke.

What if An oil executive spent 20% of his income on gas. What do think that figure would be.

The people in office don't give a rats ass. They have been making 6 and 7 figures so long they can not possibly be in touch with "real world" middle class problems.
Yes, I understand these are your opinions, Dave, but there are some pretty sweet hybrid cars out there. Maybe you just haven't seen them. The middle class will love the new Cadillac hybrids to show off their apparent wealth Desperate Housewives style.

My point is simply there are solutions. Always. Just like a dammed river, US will flow past obstacles. Might destroy some crops along the way, but what can you do? So, the obstacle is ridiculous gas prices. Well people go around the obstacle, and I imagine many defaulting to hybrids. You've seen the increased ads, and all the go green commercials. Need I mention DoW's "The Human Element" commercials? Gcycle.org. "The glaciers are melting", etc. There's hype, and it's tangible.

Maybe our government is sitting in cushy chairs thinking about all the cheap stuff to spend their loads of money on, but what can you do about it? Maybe write them a letter

There's too much subjectivity going on with the government complaints around here. Complaining that the government gets paid more than everyone else does not help us determine whether EUR/USD goes up, down, or sideways. Not necessarily you, Dave.

Appreciate your time and wisdom,

Kevin
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