- #8,962
- May 9, 2008 3:24am May 9, 2008 3:24am
- Joined Aug 2007 | Status: If it walks like a duck... | 1,481 Posts
The Dollar gets stronger during end of may/june , its a seasonal thing and with more bad euro news coming out week by week, its just a matter of time until we're back at 1.49
With oil going through the roof and no end in sight, the euro is not likely to sell off that much any time soon.
Yeah, a matter of a very long time.
Techs won't give you that forecasting.Fundies all the way(and not a red news item here, more overall economic picture)
???
- #8,966
- May 9, 2008 3:42am May 9, 2008 3:42am
- Joined Aug 2007 | Status: If it walks like a duck... | 1,481 Posts
WHAT´S GOING ON????
The question now to be asked is, where does the Market see Fair Value on the Euro? Compared to other regions the Euro-zone looks robust, there is little to no chance of anything other than rate increases to temper Inflation, or at worst a hold at 4%. The US is in a completely opposite situation in trying to stimulate Growth, and in doing so ignoring the ravages of Inflation. Oil at $120 is a USD negative that seems to be getting ignored to some extent, be careful being Long Dollars when reality sets in there.
Oversold Technically, and an out-of-line Fundamental Fair Value, could lead to a Near-term reversal. The Intermediate charts do not turn Long until 1.5650 is cleared, until then the moves may be volatile, but if it does close above that point the momentum may allow it to hold just as easily as the moves lower were made. The Weekly charts are still screaming Long.
The complete history:
http://www.forexfactory.com/news.php?do=news&id=85616
I guess...
- #8,975
- May 9, 2008 4:09am May 9, 2008 4:09am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
I really don't know am i bad trader !?
It suppose to go down but it hit my SL 1.5491
I hate loss
It suppose to go down but it hit my SL 1.5491
I hate loss
- #8,978
- May 9, 2008 4:22am May 9, 2008 4:22am
- | Joined Apr 2008 | Status: You never know | 1,306 Posts
For what it's worth, I've gone short at 1.547
30mins, 1hr and 4hr stochs are all overbought. 30mins and 1hr starting to cross.
E/U is also at a resistance level, and has been for close to 2 hours without even looking like pushing through.
I see a drop down to around 1.5395 before US open, and then who knows?
Expected the unexpected
