1.5690 is the 50%fib of the last swing high. It might rest around here for today to resume its uptrend next week, unless, of course, the news will shake it up.
- #16,162
- Jul 25, 2008 8:20am Jul 25, 2008 8:20am
- | Joined Feb 2007 | Status: Forex Warrior | 187 Posts
1.5690 is the 50%fib of the last swing high. It might rest around here for today to resume its uptrend next week, unless, of course, the news will shake it up.
- #16,163
- Jul 25, 2008 8:22am Jul 25, 2008 8:22am
- Joined Mar 2007 | Status: Trader | 3,709 Posts
where are the bears now?,,,
New Home Sales should give us a clearer picture.
If it shows any improvement .5625 will be tested again.
Again... we had poor Euro-zone data this morning and Core Durables surprised to the upside.
Additionally I think I called yesterday's low.
Anyway... being right is secondary to being in the money.
- #16,165
- Jul 25, 2008 8:56am Jul 25, 2008 8:56am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
Exactly my point of view. And I also expect the new home sales to be baaad. That would add some power yet again to EUR bulls (or maybe USD shorts to say).
I don't see reasons why trends should reverse now... just because things are going so bad that the consumer lost confidence and have no money to spend? would that be enough to change things that quick? Oil and Gold to drop, $ to go up, housing prices to boom and credit crunch to fed away?
The world could be a better place if it was like this, but it isn't.
my two cents ( of euro
)
- #16,168
- Jul 25, 2008 9:03am Jul 25, 2008 9:03am
- Joined Oct 2007 | Status: follow momentum. | 1,202 Posts
Very interesting chart.
I don't see reasons why trends should reverse now... just because things are going so bad that the consumer lost confidence and have no money to spend? would that be enough to change things that quick? Oil and Gold to drop, $ to go up, housing prices to boom and credit crunch to fed away?
The world could be a better place if it was like this, but it isn't.
my two cents ( of euro
The trend is down this may and is looking like counter rally. I am not one make rash calls though!
- #16,175
- Jul 25, 2008 9:13am Jul 25, 2008 9:13am
Kak dela? Vee ez mazkvee? Ya davno chel mozkvee.........
I think U mich consumer sentiment ,new home sales and durable good all were USD positive..............so I think EU will test yesterdays lows before it can try to launch a northbound spike.........
I think EUR can taste the low levels but it's small probability...
you watching the chart now mate, it's just about retraced the entire move up.
The trend is down this may and is looking like counter rally. I am not one make rash calls though!
.I am still long, I have seen +60 and now back at BE but I'll stay in, then of course we might go down and I might get stopped out, but I won't short the 4hr or the daily yet.
- #16,179
- Jul 25, 2008 9:23am Jul 25, 2008 9:23am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money