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  • #19,121
  • Aug 10, 2008 5:29pm Aug 10, 2008 5:29pm
It appears that pressure on the pair is continuing due to some larger players dumping their longs.
  • #19,122
  • Aug 10, 2008 5:31pm Aug 10, 2008 5:31pm
Quoting malcolmb14
that is a good idea .. the trend is your friend and we are still in a very strong one....

The nice thing about price action today ,if we do break back above 1.5000 then we can assume that the retracement to 1.5300 zone has started.
malcomb, at your convenience, I'd be interested in your views on when you look at "todays trend retracement" as "yesterdays reversal?

If i said that right... in other words, what factors give you reason to change your outlook, and is there frequently any duration involved for those things to firm up. feel Free to pm me if you'd rather.
FUBAR...
  • #19,123
  • Aug 10, 2008 5:32pm Aug 10, 2008 5:32pm
Quoting Money-RX
FWIW - Right now Bloomberg and "experts" are all calling for the dollar rally to stall and retrace citing the big guys such as CITI, Merrill, etc.
this move probably caught some of the large guys off guard.

they will be looking to get out of their long positions on any retrace.
  • #19,124
  • Aug 10, 2008 5:33pm Aug 10, 2008 5:33pm
Got a long running back to 1.500 then short from there.
  • #19,125
  • Aug 10, 2008 5:35pm Aug 10, 2008 5:35pm
Good Luck
  • #19,126
  • Aug 10, 2008 5:35pm Aug 10, 2008 5:35pm
The article in Bloomberg, everyone is all over the place from 1.45 in January to 1.61/2 in October, guess if you put faith in them we are in for a roller coaster.

http://www.bloomberg.com/apps/news?p...jF0&refer=home
  • #19,127
  • Aug 10, 2008 5:49pm Aug 10, 2008 5:49pm
Quoting auxesis
The article in Bloomberg, everyone is all over the place from 1.45 in January to 1.61/2 in October, guess if you put faith in them we are in for a roller coaster.

http://www.bloomberg.com/apps/news?p...jF0&refer=home
intresting read as they all seem to agree the $ will get stronger towards 1.45 area but not right now...

it opened today like it was going to 1.40xx..
  • #19,128
  • Aug 10, 2008 5:50pm Aug 10, 2008 5:50pm
in my opinion... we go to test the support from 1,4870.... I don't know we we firstly go to 1,50.... what do you think?
  • #19,129
  • Aug 10, 2008 5:52pm Aug 10, 2008 5:52pm
Poor bulls, where are they all now ?
On the path to Enrichment.
  • #19,130
  • Aug 10, 2008 5:52pm Aug 10, 2008 5:52pm
Quoting Sole
in my opinion... we go to test the support from 1,4870.... I don't know we we firstly go to 1,50.... what do you think?
What support?
  • #19,131
  • Aug 10, 2008 5:52pm Aug 10, 2008 5:52pm
Quoting Algirdas
Now move stops to Entry
seems to be stalling on that 100 % fe at 1.4950 level
Blogging daily now at www.volume.zone
  • #19,132
  • Aug 10, 2008 5:54pm Aug 10, 2008 5:54pm
eurjpy dropping nicely off whole number 165 .. i am looking for 164 today , then maybe the retrace on the 4 hour will start from there
Blogging daily now at www.volume.zone
  • #19,133
  • Aug 10, 2008 5:55pm Aug 10, 2008 5:55pm
Quoting malcolmb14
seems to be stalling on that 100 % fe at 1.4950 level
Given that stall, where do you think it will move next?
  • #19,134
  • Aug 10, 2008 5:58pm Aug 10, 2008 5:58pm
Quoting akirax
intresting read as they all seem to agree the $ will get stronger towards 1.45 area but not right now...

it opened today like it was going to 1.40xx..
I think you skipped bits of the article:

``We still see the balance of risks to the upside for euro- dollar given considerable headwinds facing the dollar and unrealistic pricing for Fed hikes,'' strategists led by Ray Farris at Credit Suisse Group in London wrote in a research note at the end of last week. The dollar may decline to $1.61 per euro by the end of next month and to $1.64 by year-end, they said, the most bearish forecast in the Bloomberg survey.

David Woo, head of currency strategy in London at Barclays, disagrees. ``The euro-dollar market is in an overshoot territory,'' he said. Barclays, the world's third largest currency trader, according to an annual survey by Euromoney magazine, expects the dollar to weaken to $1.57 per euro by year-end.
  • #19,135
  • Aug 10, 2008 5:58pm Aug 10, 2008 5:58pm
Quoting Jurrasic
Poor bulls, where are they all now ?
pleaseee... don't name them.... coz will turn back that one who bamed for 2 days the world because he lost his money....
  • #19,136
  • Aug 10, 2008 6:00pm Aug 10, 2008 6:00pm
Resistance at 1.55, but I'm not trading this pair
  • #19,137
  • Aug 10, 2008 6:03pm Aug 10, 2008 6:03pm
HEY CLOUDS,
AMEN!
  • #19,138
  • Aug 10, 2008 6:06pm Aug 10, 2008 6:06pm
Quoting ljr
What support?
around 1,4870 we had a very strong resitence (which became support) tested 3 times .... before the rally ... tested 23 nov, 15 jan and 1 feb... try to look on the daily chart
  • #19,139
  • Aug 10, 2008 6:06pm Aug 10, 2008 6:06pm
Quoting tamster
I think you skipped bits of the article:

``We still see the balance of risks to the upside for euro- dollar given considerable headwinds facing the dollar and unrealistic pricing for Fed hikes,'' strategists led by Ray Farris at Credit Suisse Group in London wrote in a research note at the end of last week. The dollar may decline to $1.61 per euro by the end of next month and to $1.64 by year-end, they said, the most bearish forecast in the Bloomberg survey.

David Woo, head of currency strategy in London at Barclays, disagrees. ``The euro-dollar market is in an overshoot territory,'' he said. Barclays, the world's third largest currency trader, according to an annual survey by Euromoney magazine, expects the dollar to weaken to $1.57 per euro by year-end.
I agree with David Woo; $ will be weakened compared to Euro by the 4th Qtr of this year.
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  • #19,140
  • Aug 10, 2008 6:10pm Aug 10, 2008 6:10pm
Quoting Sole
around 1,4870 we had a very strong resitence (which became support) tested 3 times .... before the rally ... tested 23 nov, 15 jan and 1 feb... try to look on the daily chart
I see the resistance but i don't see where it became support or are you saying that it has just been touched now and could form support
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