EURUSD

Quoting Algirdas

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Today was moust profitable day this year.

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Quoting baguspur

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Near very strong support for EUR/USD. I am buy 5340 TP 5450 SL 5270
Good luck!

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Quoting Warren Forex

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Here is an excellent explanation for all of us as to what is actually happening now. I will copy and paste a old post that I did on the "Knowledge Is Power" thread that I usually post my observations on.

Here it is. I will offer an explanation of how it applies to the current state of EUR/USD as it tries to reach support at 1.5285 after you read the following and watch the 7 minute video from WWW.INO.COM

http://www.forexfactory.com/images/s...n/post_old.gif Jun 15, 2008 8:49am
Warren Forex http://www.forexfactory.com/images/s...ser_online.gif
Warrenforex
Member Since Sep 2006
Posts: 1,313


http://www.forexfactory.com/images/icons/icon14.gif Comments For All FX Traders New Ones And Experienced Ones !
The above two posts give you a clear picture of how I look to understand and review the present state of the FX currency markets. I constantly do this to ensure that no fundamental changes are taking place in the marketplace.

If you have not viewed the video posted on this thread called "FTP" please do so after reading this post. FUNDAMENTALS get you into your position ahead of most others. Then you use TECHNICALS to get the BEST entry into that currency and also know where everyone sees, Support, Resistance and Pivot Points.

Then we get to PERCEPTION as I just explained above as did Jack Crooks confirm. GUESS WHAT ? Just like in the FTP video of a little less than 7 minutes shows, when the PERCEPTION becomes commonplace, that is when it will be ready to reverse as it just might do at or shortly over the next few days since ONE, there will be surprise by the NON ACTION of the G8 and following that on Monday and Tuesday coming, there is IMPORTANT US Data on the housing market including the much watched and accepted NAHB index coming out on Monday at 1:00 PM

I will do another post on how to take advantage of this knowledge to make money using my method of trading FX which works.

Here is the Link to the FTP video.

http://broadcast.ino.com/education/t...eboard_6/?blog

PLEASE WATCH IT !!! Thank You !!!






So Now To Explain how this relates to the EUR/USD going from 1.5500 at 8:30 AM today and now it tries to test 1.5285

The Fundamentals are screaming "Head Fake" What exactly happened fundamentally to send things to 1.5300 ?

Trichet was initially perceived to be Hawkish on Inflation. However the Perception was quickly seen otherwise when he did not suggest another raise in ECB rates. He did not even suggest that at the next ECB meeting in September rates would not be raised. The market wanted that just as it was convinced just before the FED announcement that it would probably raise in 2008 which WILL NOT HAPPEN.

Perhaps the information released on one of the Fannie's tomorrrow will bring things back to reality. I will be getting ready to go LONG EUR/USD while the majority are now talking 1.5000

No Way Jose !!!

Never Forget that the real purpose of the Forex Market is to buy INVENTORY which is Money.

FAIR MARKET VALUE for EUR/USD now is 1.5600

That is my own call on it. Watch the Video. Understand the Fundamentals. Watch the charts and be ready to make money going against the masses who ALWAYS LOSE !!!

I also suggest that everyone reading this post go to WWW.JSMINESET.COM

Snippet:

Jim Sinclair's Commentary:
The US dollar is the common share of USA Inc. The economic condition of any public company influences its value. Now ruminate on the talking heads that are raving dollar bulls today. Right now I am watching a little girl from Morgan Stanley informing us about the dollar. She looks so young that I am sure she is carded anytime she tries to buy a beer. She is an EXPERT. The entire reason for dollar bullishness is a break upwards of the 200-day moving average. God help us all.
AIG Posts $5.4 Billion Loss
As Housing Woes Continue
By LIAM PLEVEN
August 7, 2008; Page C2
American International Group Inc. reported its third consecutive multibillion-dollar quarterly loss, a $5.4 billion hit that underscores the continuing problems the troubled housing market poses for the insurer.
The second-quarter results from the New York firm also reflect some of the difficulties it faces in its core insurance businesses, where prices for many types of insurance are falling.
AIG said a portfolio of credit derivatives tied to subprime mortgages that has driven much of its losses in the past two quarters fell in value by another $5.6 billion in the period. That came on top of roughly $20 billion in earlier declines.
In addition, AIG logged $6.1 billion in capital, or investment, losses, mostly because of declines in the value of mortgage-linked securities and other investments for which AIG said it "could not reasonably assert that the recovery period would be temporary."
The results once again show the depth of the challenges that face Chief Executive Robert Willumstad, who took over in mid-June, after the company's board forced out Martin Sullivan. Mr. Willumstad has been AIG's chairman since 2006. The earnings also reinforce how quickly AIG's fortunes have shifted. In last year's second quarter, the firm reported nearly $4.3 billion in profit.
Mr. Sullivan had presided over the two-largest quarterly losses in AIG's history, including a record $7.8 billion loss in the first quarter. The second-quarter loss was slightly larger than the $5.3 billion AIG logged in last year's fourth quarter.
AIG's stock, which had risen sharply Tuesday, fell 80 cents, or 2.7%, to $29.09 on Wednesday in 4 p.m. New York Stock Exchange composite trading. That represents a nearly 15% decline since Mr. Willumstad got the top job.
The company reported its results after the market closed. In after-hours trading, the stock fell further, about 7.4%. Mr. Willumstad said, "These results do not reflect the earnings power and potential of AIG's businesses, and it is clear that we have a lot of work to do to restore AIG's profitability to where it should be."
He reiterated that he is reviewing the company's businesses "with the objectives of improving results, reducing AIG's risk profile and protecting our capital base."
Mr. Willumstad has said he intends to report back to investors in September on his plans. Speculation has swirled among investors about whether he will sell off units, particularly some that aren't central to AIG's insurance businesses.
AIG has already said it will keep its powerhouse aircraft-leasing operation, International Lease Finance Corp., which posted a record $352 million in operating income for the quarter, up 85%. However, in its quarterly filing Wednesday with the Securities and Exchange Commission, AIG warned that financial stress in the airline industry, which it said was due in part to the high cost of fuel and worsening economic circumstances, "will likely have a negative effect on future lease rates and could begin to influence ILFC's results of operations as some airlines may approach ILFC to renegotiate transactions."
The company has raised $20 billion this year, and Mr. Willumstad, a former Citigroup Inc. executive, has emphasized the importance he attaches to the firm's financial strength. After he got the job, he said it was "paramount to have the balance sheet as strong as possible." That earlier capital-raising effort "gave them a little bit of a cushion for a second-quarter loss," said Cliff Gallant, an analyst at Keefe Bruyette & Woods who personally owns AIG shares. He called the quarterly loss "somewhat ugly" but not "too shocking.
More...


in order to read what really is happening without the SPIN of the Media and the comments of the economists who guess and are right about 50% of the time just like everyone else. That is unless you have an EDGE like I do understanding the Fundamentals on my own and not going along only with charts which do not forecast the future only the past and present.

I hope this post is able to help some of you with open minds to understand the nature of the game or at least the REAL RULES OF THE GAME !!!

Happy Trading All !!!


Bruce

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Quoting hussin naiji

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forming beautiful double top on daily EURUSD

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Quoting videoman555

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if I knew who it was, I would kill it, because it just robbed my account completely!

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Quoting Clouds

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We are going to 1.44 in next few hours.

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Quoting Srikanth

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hi hussin,

please tell us what happens if double top forms?

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Quoting Clouds

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We are going to 1.44 in next few hours.

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Quoting Donyouth4eva

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Bro this s$%t makes some traders suicidal. I've blown through 3000 today alone not to mention how much my wife lost. I think im going to do some heavy drinking tonight.

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Quoting poweredbuyer

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Can someone tell me WTF just happened?

Why this major sell off during Asian session I have never seen this....

Im lovin it cause I opened a short just now and instant 30 pips .... but reason????

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Quoting Clouds

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We are going to 1.44 in next few hours.

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Quoting Donyouth4eva

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Bro this s$%t makes some traders suicidal. I've blown through 3000 today alone not to mention how much my wife lost. I think im going to do some heavy drinking tonight.

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