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EURUSD

  • #13,341
  • Jul 6, 2008 6:45pm Jul 6, 2008 6:45pm
it will collapse
"Diversification is an excuse for a lack of talent" ~FXC
  • #13,342
  • Jul 6, 2008 6:47pm Jul 6, 2008 6:47pm
A note, The rise from 5400 to 5900, 50% retrace is 5650.
  • #13,343
  • Jul 6, 2008 6:51pm Jul 6, 2008 6:51pm
Collapse It shall and collapse it has.
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"Diversification is an excuse for a lack of talent" ~FXC
  • #13,344
  • Jul 6, 2008 6:52pm Jul 6, 2008 6:52pm
Quoting FXCapitalist
Collapse It shall and collapse it has.
Im not quite convinced, still long,
  • #13,345
  • Jul 6, 2008 6:55pm Jul 6, 2008 6:55pm
Channel & maybe bull flag/
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  • #13,346
  • Jul 6, 2008 6:56pm Jul 6, 2008 6:56pm
maybe its the time to end the uptrend eur after all these years.. but Im still looking for more indicators to convinced myself
Money often costs too much...
  • #13,347
  • Jul 6, 2008 6:56pm Jul 6, 2008 6:56pm
Quoting Clouds
A note, The rise from 5400 to 5900, 50% retrace is 5650.
Bearish Bearish Bearish .....
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  • #13,348
  • Jul 6, 2008 6:56pm Jul 6, 2008 6:56pm
Quoting Clouds
Im not quite convinced, still long,
Ill be looking at 1.5535
"Diversification is an excuse for a lack of talent" ~FXC
  • #13,349
  • Jul 6, 2008 6:56pm Jul 6, 2008 6:56pm
I smell another short term low before it heads back to the upside. Not that it matters to me , I could care less where it goes.
  • #13,350
  • Jul 6, 2008 6:59pm Jul 6, 2008 6:59pm
I care as long as im winning. I need it to keep dropping.
"Diversification is an excuse for a lack of talent" ~FXC
  • #13,351
  • Jul 6, 2008 7:00pm Jul 6, 2008 7:00pm
Quoting FXCapitalist
I care as long as im winning. I need it to keep dropping.
Short-term we'll see 5700 real soon, imho
  • #13,352
  • Jul 6, 2008 7:01pm Jul 6, 2008 7:01pm
Its hard to say. Over the last few weeks the Euro has become quite volitile from what it has been over the past year or two. We might be seeing a early sign that the pair will follow the uptrend but only for a while longer.

As for right now. It seems as the pair has entered a range and will have bigger swings until it finally chooses a direction if it does.

-X
Like they say....."Plan your trade, Trade your plan"
  • #13,353
  • Jul 6, 2008 7:14pm Jul 6, 2008 7:14pm
Quoting daerus
I smell another short term low before it heads back to the upside. Not that it matters to me , I could care less where it goes.
To further extrapolate on my previous comment... (note: I trade the dailies)

In my opinion we are in a corrective wave 4, currently heading downwards (short term) in a C wave. Once the C wave is complete, we should (barring any weird catastrophic news or whatnot) see a further move upwards with potentially new highs as wave 5 unfolds. Once wave 5 is complete, we'll have a longer term correction downwards.

I don't have any specific market numbers for reversals/retraces or anything. I'll just ride it all and get out when the market tells me to. Things get much easier when you make the market your friend and don't try to fight it.

(As always this is just my opinion. I could be completely wrong and coocoo for coacoa puffs. And that's ok!)
  • #13,354
  • Jul 6, 2008 7:15pm Jul 6, 2008 7:15pm
I think It could have been the oil news that has spoked the market as cheaper OIL in the US means less pressure on ECCO and higher USD.

Cheaper Oil also reduces the inflation fears on on EURO less chance for a interest rise.

Just some Ideas as the oil news was the only real news out there this weekend. was a supprising drop this morning!

any other news that came out in Japanese session?

I will be looking to go long again once a signal presents.

Cheers
  • #13,355
  • Jul 6, 2008 7:31pm Jul 6, 2008 7:31pm
Quoting >Apocalypto<
I think It could have been the oil news that has spoked the market as cheaper OIL in the US means less pressure on ECCO and higher USD.

Cheaper Oil also reduces the inflation fears on on EURO less chance for a interest rise.

Just some Ideas as the oil news was the only real news out there this weekend. was a supprising drop this morning!

any other news that came out in Japanese session?

I will be looking to go long again once a signal presents.

Cheers
Oil (CLQ8) is still trading near last weeks high.
Numbers from current session below.
(H)144.53 (L)143.63 (C)143.78
Maybe it will be sold cheaper, but will it trade cheaper tomorrow?
  • #13,356
  • Jul 6, 2008 7:39pm Jul 6, 2008 7:39pm
Quoting Fx_Genius
Oil (CLQ8) is still trading near last weeks high.
Numbers from current session below.
(H)144.53 (L)143.63 (C)143.78
Maybe it will be sold cheaper, but will it trade cheaper tomorrow?
Technically speaking a drop to 134 is quite possible.
  • #13,357
  • Jul 6, 2008 7:41pm Jul 6, 2008 7:41pm
http://www.marketwatch.com/news/story/opec-president-blames-oil-prices/story.aspx?guid={E003D4C9-0739-4868-8F69-D9C51BB53CB5}&dist=msr_1

Khelil again predicts price climbs, citing biofuels, weak dollar, tensions

By MarketWatch
Last update: 2:05 p.m. EDT July 6, 2008


WASHINGTON (MarketWatch) -- The price of petroleum will continue to rise because of ethanol, the weak dollar and political tensions, the oil cartel's president was quoted as saying Sunday.

"The price of oil will rise again in the coming weeks," Chakib Khelil -- the Algerian energy minister and currently president of the Organization of Petroleum Exporting Countries -- said in an interview with an Algerian newspaper. "We have to follow the evolution of the dollar, because a 1% fall in the dollar means $4 more on the price of oil."
Khelil said the weak dollar and geopolitical worries are responsible for 60% of the rise in crude prices, but also said that "the intrusion of bioethanol on the market" was alone responsible for the other 40%.
He didn't explain why more ethanol would drive crude prices higher, but said the dollar's decline was because the Federal Reserve had kept interest rates low.
Khelil repeated his view that a lack of supply is not the problem.
"As producer countries, we think that the current supply is sufficient, that this balance in supply is in everybody's interests and that it shouldn't be disturbed, because the current rise in oil prices is in nobody's interest," he said, according to media accounts.
~~~~~~~~~~~~~~
  • #13,358
  • Jul 6, 2008 7:52pm Jul 6, 2008 7:52pm
Quoting Fx_Genius
Oil (CLQ8) is still trading near last weeks high.
Numbers from current session below.
(H)144.53 (L)143.63 (C)143.78
Maybe it will be sold cheaper, but will it trade cheaper tomorrow?
not the Oil price....


Some of th Opec members have agreed to drop the price to the US and another country. by 55 cents I think.
  • #13,359
  • Jul 6, 2008 7:59pm Jul 6, 2008 7:59pm
Quoting >Apocalypto<
not the Oil price....


Some of th Opec members have agreed to drop the price to the US and another country. by 55 cents I think.
Correct. Fx Genius posted this from reuters a couple pages back: http://www.reuters.com/article/GCA-O...51399420080706

I'm curious as well if oil will be trading cheaper on tomorrow's open because of this. Maybe...
  • #13,360
  • Jul 6, 2008 8:04pm Jul 6, 2008 8:04pm
Quoting >Apocalypto<
not the Oil price....


Some of th Opec members have agreed to drop the price to the US and another country. by 55 cents I think.
They can drop it by a dollar. It's only a band aid solution and doesn't solve the root problem; the value of the dollar going down.

Many are cheering as if the Euro is going to drop forever.

Short term, go short. Long term go long.
Not all sins are created equal
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