EURUSD

GM Yall!

It retraced more then 38.2%, and now is on the fall again. Bears and bulls meet again at the accending orange TL that has held the price from falling yesterday. I believe it will break sooner then later, anyway i closed my last short of the broken H&S neckline yesterday. Now waiting for another setup if it comes in heh. Also the descending downtrend channel is in play as well, but i see the third swing failed to touch the UTL of the descending ciolet channel, that might be a sign that bulls are loosing power. Lets wait and see who will win!

Wise move... We are both making $$

Upcoming news may be negative for USD.

What news - Bernanke or Oil Inventory?

maybe yes, maybe no....
we need more than maybe...

Building permits & Unemployment.

Ahhhh.... Housing Starts Too!!! - 2 out of 3 Guaranteed to Be BAD!

That is over 5 hours away. Please supply us with news events and times next time.

oil is diving for now

Stating the obvious..

This is why it's called "upcoming"

Your post made traders jump. No need to get traders adjusting in their chairs when the news event is several hours away. A complete posting is better in these situations, don't you agree?

Everybody knows US housing and employment conditions are bad. Been bad for quite while now so expectations are low. Currencies are a funny thing. It's all about expectations and speculations. So I don't know what's been factored in and what's not.

it's going up!

Yeah +20 in a blink :| somehow I think that traders are forgetting the BS that the Fed is telling them , new highs comming.

I agree. Dollar can be manipulated only so much. Besides bernenke's dollar intervention may not kick in until after new highs in the Euro.

Euro is seeing TL resistance and it's just below the 4H EMA resistance. I think a break above 1.5885 might give it a pretty hefty boost. gl

TP hit I'm staying out for a while if it hits 1.5885 then I go long if it hits 1.5820 i go short.

Meanwhile, EJ's moved 150 pips up, I still think EU will fall, but not till 4-5 hours

Oil selling machines are working right now.

"And widely used computers programed to sell once prices fall to certain thresholds can accelerate declines, much as an avalanche gains steam the further it slides."

http://biz.yahoo.com/ap/080716/oil_prices.html?.v=16

But, I agree to the following statement.

"Industry observers cautioned that prices could still bounce back, just as they have following large drops in recent weeks."

Once their purpose was fullfilled, the oil price will come back up and USD will drop against Euro again.