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  • #18,821
  • Aug 8, 2008 2:08pm Aug 8, 2008 2:08pm
Quoting indotrader
a very great point of view Warren.. a Lots of thanks for posting it
I will learn this more..
Shall 50B$ buying ignite the short covering? dont know the daily forex transaction volume.
  • #18,822
  • Aug 8, 2008 2:10pm Aug 8, 2008 2:10pm
Quoting acumen
Looks like a break is coming... would also be a nice place for a bottom... but only fools are doing that right now.
Nice place for a bottom could be @ 1.4400 imho.

Takes only two more 300pips days..

all can happen.

Take care and have a nice weekend all
  • #18,823
  • Aug 8, 2008 2:12pm Aug 8, 2008 2:12pm
Quoting moneybookers
Shall 50B$ buying ignite the short covering? dont know the daily forex transaction volume.
http://en.wikipedia.org/wiki/Foreign_exchange_market

Quote
The average daily trade in the global forex and related markets currently is almost US $4 trillion.

(just googled this link)

http://www.forex.com/forex_currency_pairs.html

Quote
The Biggie
By far the most actively traded currency pair is euro/dollar (EUR/USD), accounting for 28 percent of daily global volume in the most recent Bank for International Settlements (BIS) survey of currency market activity.
  • #18,824
  • Aug 8, 2008 2:15pm Aug 8, 2008 2:15pm
Quoting mokonni
Nice place for a bottom could be @ 1.4400 imho.

Takes only two more 300pips days..

all can happen.

Take care and have a nice weekend all
Yep. If US sales don't disappoint next week - and I don't have any reason to believe that, given the past month credit rise - there will be more blood for the Euro.
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #18,825
  • Aug 8, 2008 2:16pm Aug 8, 2008 2:16pm
Quoting Warren Forex
This man is one of the most respected men in his field. He has a world wide reputation. He posts regularly on WWW.JSMINESET.COM

More importantly he has been highly accurate with his obsevations since I started following him in 1999.

It is healthy to be a cynic at times but this time is definitely not one of them.

Have A Nice Weekend !!!


Bruce (A Realist)

He's the guy that put a strong buy on Amazon at $400/share.

His recommendation took it to $400 share and then...

Well... you can check out the ticker if you don't know where it is now.

I'm not attacking your analysis Warren... I just want others to think independently.

If I'm going to listen to someone's analysis then they better be putting their coins on the table.

Anyone can learn to craft eloquent press releases.

My question to this guy - I'm fine with your analysis sir - what's your position against the dollar. If you want me to take him seriously - it better be big.
  • #18,826
  • Aug 8, 2008 2:16pm Aug 8, 2008 2:16pm
Quoting slide
With whos' government money?
So you're saying a collective currency cannot prop?
  • #18,827
  • Aug 8, 2008 2:19pm Aug 8, 2008 2:19pm
hello 1.5
  • #18,828
  • Aug 8, 2008 2:22pm Aug 8, 2008 2:22pm
Quoting mikkom
http://en.wikipedia.org/wiki/Foreign_exchange_market
Trading, or speculation, makes up 95% of the daily volume. The other 5% of daily volume consists of governments and commercial companies converting one currency into another from buying and selling goods and services.

forex mkt daily converting $4000B*5%=$200B, while FED daily buying $ 500B/20=25B,12.5% of meterial long positon.
  • #18,829
  • Aug 8, 2008 2:22pm Aug 8, 2008 2:22pm
Quoting seesaw
So you're saying a collective currency cannot prop?
Of course it can, but you should remember that the ECB is not Fed; It cannot just do "whatever it takes" to save the Euro; plus a low euro suits better Europe at this time;
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #18,830
  • Aug 8, 2008 2:23pm Aug 8, 2008 2:23pm
Quoting slide
Of course it can, but you should remember that the ECB is not Fed; It cannot just do "whatever it takes" to save the Euro; plus a low euro suits better Europe at this time;

It suits me fine too
  • #18,831
  • Aug 8, 2008 2:25pm Aug 8, 2008 2:25pm
Quoting Warren Forex
http://goldmoney.com/en/commentary.php
Thanks so much Warren.
It's very important to understand How things goes with your bussines.
Thanks,Your post was A++ Great
  • #18,832
  • Aug 8, 2008 2:27pm Aug 8, 2008 2:27pm
There is a very old saying at the Stock Market and that is:

YOU SHOULD NEVER TRY TO CATCH A FALLING KNIFE

This can also be understood as always go with the trend, yes I know the EUR USD was not exactly going down at 8.30am EST on Thursday.

The best thing to have done in this situation was not to try to find the bottom, but wait until it is at a level where it appears to be moving up again.

For most easier said then done, and that is why discipline and patience is the key to success in any market.
  • #18,833
  • Aug 8, 2008 2:27pm Aug 8, 2008 2:27pm
Finally EURO did it.. fell under 1.5
  • #18,834
  • Aug 8, 2008 2:30pm Aug 8, 2008 2:30pm
Quoting Two percent
There is a very old saying at the Stock Market and that is:

YOU SHOULD NEVER TRY TO CATCH A FALLING KNIFE

This can also be understood as always go with the trend, yes I know the EUR USD was not exactly going down at 8.30am EST on Thursday.

The best thing to have done in this situation was not to try to find the bottom, but wait until it is at a level where it appears to be moving up again.

For most easier said then done, and that is why discipline and patience is the key to success in any market.
Point taken. With the exception, I would call this one a falling sword; that's one big candle. LOL
  • #18,835
  • Aug 8, 2008 2:32pm Aug 8, 2008 2:32pm
Quoting mikkom
hello 1.5
Just about time, before closing, as anticipated:
http://www.forexfactory.com/showthre...69#post2153869

This euro drop had the precision of a German clockwork;;
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #18,836
  • Aug 8, 2008 2:33pm Aug 8, 2008 2:33pm
Next Target one more time more accurate ,,,,,,We Short EUR/USD since 1.5500
Quote:
Originally Posted by Algirdas http://www.forexfactory.com/images/buttons/viewpost.gif
Next Target :

EUR/USD 1.5100 , if breaks 1.5050
GBP/USD 1.9200 , if breaks 1.9152
AUD/USD 0.8820
NZD/USD 0.6925
USD/CAD 1.0600 , if breaks 1.0625
USD/JPY 110.50
USD/CHF 1.0780 , if breaks 1.0825

Thank you very much for cooperation.

Next Target :

EUR/USD if breaks 1.5100 , if breaks 1.5050 next 1.5000
GBP/USD 1.9200 , if breaks 1.9152 , next Sell 1.9145 break
AUD/USD 0.8820
NZD/USD 0.6925
USD/CAD 1.0600 , if breaks 1.0625 , and if breaks next 1.0700
USD/JPY 110.50 - 65
USD/CHF 1.0780 , if breaks 1.0825, 1.0855 Buy Substantionall Break
{Promotion Removed}
  • #18,837
  • Aug 8, 2008 2:37pm Aug 8, 2008 2:37pm
Quoting Srikanth
Finally EURO did it.. fell under 1.5
What do you expect next?
  • #18,838
  • Aug 8, 2008 2:40pm Aug 8, 2008 2:40pm
Quoting jeam256
What do you expect next?
Next stops hit, at 1.49;;
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #18,839
  • Aug 8, 2008 2:41pm Aug 8, 2008 2:41pm
Quoting jeam256
What do you expect next?
I expect a 100 point drop when Forex opens on Sunday
  • #18,840
  • Aug 8, 2008 2:42pm Aug 8, 2008 2:42pm
Quoting Algirdas
Next Target one more time more accurate ,,,,,,We Short EUR/USD since 1.5500
So what is your short target?
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