EURUSD

Well as long as one wants to stay in the game, he should always take some risk. Or else you can just go put your money in the bank and make .5% interest. I am just very nervous before London open and wonder if things might be going falsely in one direction and later on get pulled back sharply.

Could be, I hope no one trades according to what people say on a forum, take everything as just another opinion. Like I said, my main trading is systematic and short term, this larger trend thing is just a bonus (could turn out a negative bonus yet..).

seems that big boys are short EUR now. follow the money.

Yes, the market moved against EUR almost 200 pips down south. But who is to say that in the London session this will reverse back into the 5550 zone.

To me, it seems that it has moved down as much as the market can handle.

even dollar bear like Jimmy Roger expected USD to bounce for a while. EUR should hit 1.5 fairly soon.

TOKYO (Thomson Financial) - The dollar was mixed against major currencies in afternoon trading in Asia on Monday ahead of a series of data this week which may provide further clues on the depth of the U.S. slowdown.

Among U.S. data due this week include retail sales on Tuesday, consumer price inflation on Wednesday and housing starts on Friday.

The dollar's gains this morning were largely due to short covering ahead of the release of

earnings by U.S. hedge funds, said Yuji Saito, head of foreign exchange sales at Societe Generale.

At 1:50 p.m. (0450 GMT), the dollar was at 103.35 yen, compared to 102.93 yen in late New

York trading Friday,while the euro was at $1.5412 versus $1.5391.

"The rise in the dollar was largely driven by the supply and demand conditions after the currency initially came under selling pressure on renewed worries about the credit crisis," said Saito.

Saito was referring to news Friday that insurer American International Group Inc. posted a wider-than-expected $7.81 billion first-quarter loss and disclosed plans to raise $12.5 billion in the coming months.

Also, Citigroup Inc. said it hopes to shed between $400 billion and $500 billion in assets and increase revenue by 9 percent over the next few years as it tries to recover from big losses tied to deterioration in the mortgage and credit markets.

"These news shocked the market, which had become too optimistic about the credit situation,"

said Ryohei Muramatsu, head of Group Treasury Asia at Commerzbank.

Traders were also monitoring crude oil prices which had topped $126 a barrel on Friday.

Tokyo 1:50 p.m. (0450 GMT)





It may try to reach that 1.52 mark but I don't think it will hang there for very long.

Don't believe everything Jimmy Roger says. How do you know he is not trying to prop up dollar so he can liquidate all his dollar holdings and go into something else?

I am not holding any positions so I am not trying to influence anybody one way or another. Just caution.

Wow 30 pips back up in 5 mins, it completely redid that entire drop

Coming back down again.

you think this heads past where it just dropped? cuz it still seems to be fighting to go north

It will go where there is the least amount of resistance. I can't see it moving down any lower today.

At least until New york opens up

how much do you guys think this gbp news will affect the e/u?

man these run ups are powerful

Looking pretty sideways to me right now.. Off to trade some sterling

Red news from the UK won't help euro, for sure. But any effect from the news should be quite short lived. The price will go where it wants to go, news or not.

If we reach .5450 before NY comes on, then we could see .5480-85 at which point I think we should see some consolidation. That's also where the upper trend channel line is. (see my last post.)

Looks like a BIG head and sholders formed, it'll need to break 56 for a solid long signal or 280 for a solid short.

yes a bit strage H&S... but it can be...
it is because 1.5366 is a very strong level with two fibs