EURUSD

So YOU'RE the one - mmmmm - lol

"make Pips not War" - should be a bumper sticker

If I recall someone here was blaming others for him to go short --- look at the results

EURO-DOLLAR: Fresh low prints marked near $1.5700 as earlier mentioned
demand interest gets eroded perhaps to expose stops. Traders earlier
noted spec. and hedge fund demand as euro sellers on the slide from
Wednesday`s levels atop $1.5800 selling from that sector noted
especially on the break of $1.5785 area that now will act as resistance.
Chatter earlier pegged stops sub $1.5700 area but for now those remain
intact as traders question whether a `standard` 3 cent correction from
life highs is sufficient for euro or whether there is more to come.



Above text from MNI at 8:48 EDT



SeerEye

"Measures the number of individuals who filed for unemployment insurance for the first time during the past week. A falling trend has a positive effect on the nation's currency because working people tend to spend more money, and consumer spending makes up a large portion of GDP. This weekly indicator produces very timely data, but traders generally view unemployment as a lagging indicator that gives little indication of the economy’s future performance."

Unfortunately what this number doesn't tell you is the true number of unemployed only the number that filled. You cannot file more than once in US unless you have worked 30 days since last unemployment. During typical times this is a valid number as people file for unemployment, then get work. There are people who have been out of work in US, not getting unemployment because it has run out (time limitation of 6 months) and cannot file again.

While we have broken down past long & mid trends only time will tell if this is the top. As Europe is catching up with the US for economic and housing problems, it could be a signal for a trend change but I think there is more bad news in store for US as not all is revealed as the G7 asked.

If this is a turning point for E$, does this mean a stronger dollar? Not as long people have to make choices between oil, gas & food or home payments/rent.

more and more going down... i guest

maybe not so lucky...

having fun... lol

some people called GBPJPY the Beast... I think the beast now is EURUSD

snagged another 18 pips - and haven't fallen off the board yet -

Now this thread is getting famous coz of today's beast as some one said earlier

so what, shorters pls lock profit...the beast doesnt go one way only....

may be it is time for longer term downtrend i guess (just guessing)

now take long at 5691, i guest.....:

It's funny that when the trends start, we suddenly have a lot of winners (congrats winners). I wonder where these people were earlier this week..

My guess is losing.

At any rate, it is clear that USD is gaining strength. If we see a push past 1.5700, I see no reasons for it NOT to keep going down further. Genius's post is a good one. It's hard to say whether the poor US economy is what is affecting other countries or something entirely different. We all know I'm American-biased, so I'd probably say that the US economy IS affecting the world.

I also think the trend reversed. In longer term it can reach 1.5000. The traders sentiment is rather bearish what I see in this forum. The euro is exhausted, time to rest. Today it should reatrace, I'll have an eye on New Home Sales.

€$ going up now is not a sign of trend change to upside... it is only.. taking profits before home sales news... because it is expected bad news... but let's see if there is a surprise.. or if euro recovers a bit for today... but the trend is down for next week

maybe because we are all scalpers

who from here is maintaining euro long from less than 1.50 for example? I guess nobody.

look who's talking, mr trichet himself..
he's concerned about potential impact from rising euro..--> should be eur/usd negative..

huh luckly i went short at EURUSD and getting 40pips which my loss cover at USD-270 and profit some more dollar to living..
2morrow withdraw some

I mean that the euro reverse to down in longer term but it can retrace a little before that

Hey hey, it only fell for a couple of days and people are already looking for a larger trend shift ? It broke 1.6 3 days ago remember ?
If I had to guess I'd say it might go some more south 56-55 but then come back north HARD past 1.6. Of course, remains to be seen what happens with the fundumentals, they could change things. I'd only start talking about a transition to ranging below 1.53 and trend reversal below 1.5..