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EURUSD

  • #17,641
  • Aug 4, 2008 8:06pm Aug 4, 2008 8:06pm
Quoting Pennypacker
where are we going from here? ideas about tomorrow's ranges?
weekly range; 5540->5900
  • #17,642
  • Aug 4, 2008 8:11pm Aug 4, 2008 8:11pm
Quoting Russell
Here's some great analysis from a top notch fund manager, for those that
may not have seen it. http://www.forexfactory.com/showthre...71#post2145971
You would be surprised the caliber of traders that stand in the shadows on this site.
Good stuff, Russell. Thanks for sharing.
Up or down, gimme a ticket
  • #17,643
  • Aug 4, 2008 8:16pm Aug 4, 2008 8:16pm
Quoting Clouds
weekly range; 5540->5900
I wouldn't be too sure...

Price is below weekly support line and struggling to break back through to the upside.
Attached Image (click to enlarge)
Click to Enlarge Name: eu_daily.png Size: 4 KB
Attached Image
  • #17,644
  • Aug 4, 2008 8:23pm Aug 4, 2008 8:23pm
Quoting NuckingFuts
I wouldn't be too sure...

Price is below weekly support line and struggling to break back through to the upside.
hmm
  • #17,645
  • Aug 4, 2008 8:26pm Aug 4, 2008 8:26pm
Quoting NuckingFuts
I wouldn't be too sure...

Price is below weekly support line and struggling to break back through to the upside.
?
Attached Image
  • #17,646
  • Aug 4, 2008 8:40pm Aug 4, 2008 8:40pm
Quoting Clouds
?
Attachment
i agree with you dude
  • #17,647
  • Aug 4, 2008 9:08pm Aug 4, 2008 9:08pm
Oil is also very low
  • #17,648
  • Aug 4, 2008 9:14pm Aug 4, 2008 9:14pm
Quoting Pyramus
Oil is also very low
i wonder when investors will buy oil. is it low enough for them, or what level are they waiting for.
  • #17,649
  • Aug 4, 2008 9:29pm Aug 4, 2008 9:29pm
Quoting Clouds
i wonder when investors will buy oil. is it low enough for them, or what level are they waiting for.
I remembered somebody posted in this thread if oil goes below 120 it will easily drop all the way to 100 level.
  • #17,650
  • Aug 4, 2008 9:29pm Aug 4, 2008 9:29pm
pls can anyone give me the highest,lowest and closing prices for yesterday
  • #17,651
  • Aug 4, 2008 9:30pm Aug 4, 2008 9:30pm
Quoting de123
im buying gj now 212.222 lovely number to defend....
  • #17,652
  • Aug 4, 2008 9:33pm Aug 4, 2008 9:33pm
Quoting finian204rea
pls can anyone give me the highest,lowest and closing prices for yesterday
5631
5554
5565
  • #17,653
  • Aug 4, 2008 9:38pm Aug 4, 2008 9:38pm
Just the way it looks now, it looks like the June 9, 2008 to June 13, 2008 pattern ... dropping almost 500 pips before coming back up by 600+ pips ... I think it's almost that time for the USD to end it's run ...
  • #17,654
  • Aug 4, 2008 9:44pm Aug 4, 2008 9:44pm
Quoting freetrader
5631
5554
5565
thanks man
  • #17,655
  • Aug 4, 2008 9:48pm Aug 4, 2008 9:48pm
Quoting Clouds
i wonder when investors will buy oil. is it low enough for them, or what level are they waiting for.
oil is low because the summer driving season is over. the kids are going back to school. We college students are going back also. Vacations are over in general. That is why we are going lower. Look for oil/gas prices to increase near Labor Day, Thanksgiving and Christmas.
  • #17,656
  • Aug 4, 2008 10:14pm Aug 4, 2008 10:14pm
long here at 535 right before RBA decision, f8k them
and will hunt some long order at 507
  • #17,657
  • Aug 4, 2008 10:32pm Aug 4, 2008 10:32pm
im kind of rookie in this. but i need some explication. tomorrow the FOMC will gather together and see if they change the interest rates. but i'm reading "currency trades for dummies" and it says that the 3 more important things in FOREX is: "interest rates, interest rates and interest rates" so I want to know why??? why is so important. why interest rates is more important than other news that could happen in US. And also I want to know something... we expect that the interest rates will not be changed... or at least is what the calendar says. so,what happen if the rates stay at 2%. and what happen if the rates are increased????
Thanks beforehand.
  • #17,658
  • Aug 4, 2008 10:36pm Aug 4, 2008 10:36pm
Quoting ralfih
im kind of rookie in this. but i need some explication. tomorrow the FOMC will gather together and see if they change the interest rates. but i'm reading "currency trades for dummies" and it says that the 3 more important things in FOREX is: "interest rates, interest rates and interest rates" so I want to know why??? why is so important. why interest rates is more important than other news that could happen in US. And also I want to know something... we expect that the interest rates will not be changed... or at least is what the calendar says. so,what happen if the rates stay at 2%. and what happen if the rates are increased????
Thanks beforehand.
U should read basics of economy instead
  • #17,659
  • Aug 4, 2008 10:41pm Aug 4, 2008 10:41pm
Quoting ralfih
im kind of rookie in this. but i need some explication. tomorrow the FOMC will gather together and see if they change the interest rates. but i'm reading "currency trades for dummies" and it says that the 3 more important things in FOREX is: "interest rates, interest rates and interest rates" so I want to know why??? why is so important. why interest rates is more important than other news that could happen in US. And also I want to know something... we expect that the interest rates will not be changed... or at least is what the calendar says. so,what happen if the rates stay at 2%. and what happen if the rates are increased????
Thanks beforehand.
You might find this helpful. http://www.forexfactory.com/news.php?do=news&id=99120
  • #17,660
  • Aug 4, 2008 10:55pm Aug 4, 2008 10:55pm
Lower interest rates stimulate borrowing, investing and consumption. Higher rates promote savings and decrease borrowings (banks want the consumer's money).

Rates also influence capital flows and help investor's earnings expectations when investing in a particular country.

ralfih, traders will be looking at the FOMC statement to see what the FED is planning to do in the future. Experts are predicting the rate to remain unchanged. If it's changed unexpectedly i.e. goes up, USD will go up, if they drop it, USD will go down.
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