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  • #19,921
  • Aug 12, 2008 11:42am Aug 12, 2008 11:42am
Small H&S looks about to break to downside.
  • #19,922
  • Aug 12, 2008 11:47am Aug 12, 2008 11:47am
Quoting Warren Forex
It is called the Carry Trade...

The Yen is borrowed at a low interest rate and then exchanged for US Dollars. The borrower makes money on the difference in the spread. That is the interest rate differences.

They then invest US Dollars in the Dow. The Dow goes UP and they make more money. HOWEVER when the Dow goes down and they sell it they buy back the Yen to pay off their loan and the USD/JPY goes down.


Bruce

Quoting piptechnician
There is a historical correlation of the usd/jpy following the US Stock Market. You would need to be a genius to use it for picking price targets too far in advance, unless you are a genius at determining price targets for the US Stock Market. Short term this correlation can be used to "help" determine direction. Be wary of absolutes when playing a zero sum game.

Thanks guys. Appreciate it!

Maarten
  • #19,923
  • Aug 12, 2008 11:52am Aug 12, 2008 11:52am
I'm lost!!! I don't know what's going on with this pair
  • #19,924
  • Aug 12, 2008 11:52am Aug 12, 2008 11:52am
Short term double bottom ?

could go up if we go above that trendline 1.4894
Attached Image (click to enlarge)
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  • #19,925
  • Aug 12, 2008 12:09pm Aug 12, 2008 12:09pm
Quoting mokonni
Short term double bottom ?

could go up if we go above that trendline 1.4894
That was good for another 6 Pips
  • #19,926
  • Aug 12, 2008 12:15pm Aug 12, 2008 12:15pm
Quoting seesaw
I'm lost!!! I don't know what's going on with this pair
well,

techically, is in a yearly uptrend still, but is retracing. Actually, if u r this kind of trader, just now is a BIG opportunity to buy, targeting maybe next year, +1.7000.

fundamentally, this wild pullback is due to UE recession fears, UK recession fears and... that maybe the US economy is going to be the one less afected comparing the all three.

my 2 cents.

iiivb
  • #19,927
  • Aug 12, 2008 12:24pm Aug 12, 2008 12:24pm
USD/CHF is running out of air... = EUR/USD is ready to go up...
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Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #19,928
  • Aug 12, 2008 12:38pm Aug 12, 2008 12:38pm
Quoting iiivb
well,

techically, is in a yearly uptrend still, but is retracing. Actually, if u r this kind of trader, just now is a BIG opportunity to buy, targeting maybe next year, +1.7000.

fundamentally, this wild pullback is due to UE recession fears, UK recession fears and... that maybe the US economy is going to be the one less afected comparing the all three.

my 2 cents.

iiivb
thank you....
  • #19,929
  • Aug 12, 2008 12:52pm Aug 12, 2008 12:52pm
Do we start a retrace prior to going to well established trend line?

We can see attempts at base building underway right now.

I would love to believe in a retrace but I'll hold my comments until Thursday's data.

The zone data will be bad.

Will the bad news be priced in?

Who knows.
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  • #19,930
  • Aug 12, 2008 12:58pm Aug 12, 2008 12:58pm
DailyFx.com article has forecasted a retrace to 5083 over the next couple of days BEFORE the data.

If the data is good, EUR zooms back

If not, we plunge
  • #19,931
  • Aug 12, 2008 1:03pm Aug 12, 2008 1:03pm
Quoting P51_Group
Well Mr. Warren Forex (aka Bruce) - I am still waiting for you to repay me my $8,000.00. You promised me that you would take that money and invest it with your trading skills in the Foreign Exchange Market and double my money in 30 days….. Well Bruce, that has now been over 1 year ago and it took me awhile to locate you because of you running from me, and others like me that you have stole money from, and I still want my money back. You have tried to use the excuse that it was my investment even though it was lost by you in the Foreign Exchange market that it was not your fault. Well Bruce, here is the bottom line. Both the United States and Canada will prosecute you for International racketeering, also known as the Rico Act, if you do not return the money you had con from individuals within the next 30 days. These individuals you know who they are and they are waiting for their money also.
Wow, that's crazy. What's happened here.?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #19,932
  • Aug 12, 2008 1:10pm Aug 12, 2008 1:10pm
"Good numbers supports EUR/USD"

Economic Data (US, Jul) Monthly Budget statement out at -102.8 B vs. -95.0 B expected. Prior at -36.4 B. A negative figure (deficit) that indicates government debt is seen as bearish for the USD.
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #19,933
  • Aug 12, 2008 1:11pm Aug 12, 2008 1:11pm
Quoting bristolxyz
Wow, that's crazy. What's happened here.?
I don't know but it's not cool.

Anyone can come here with blazing guns and make claims of being owed money. Whether or not they are true is another story.

If that guy actually has a legitimate claim and a leg to stand on, we have a court system for this.
Not all sins are created equal
  • #19,934
  • Aug 12, 2008 1:17pm Aug 12, 2008 1:17pm
Quoting seesaw
DailyFx.com article has forecasted a retrace to 5083 over the next couple of days BEFORE the data.

If the data is good, EUR zooms back

If not, we plunge
Down we go...

It won't good... I promise.
  • #19,935
  • Aug 12, 2008 1:26pm Aug 12, 2008 1:26pm
Quoting jckm
"Good numbers supports EUR/USD"

Economic Data (US, Jul) Monthly Budget statement out at -102.8 B vs. -95.0 B expected. Prior at -36.4 B. A negative figure (deficit) that indicates government debt is seen as bearish for the USD.
We know it sucks in the US.

How bad does it suck in the zone.

My guess... worse than most think.
  • #19,936
  • Aug 12, 2008 1:27pm Aug 12, 2008 1:27pm
Quoting acumen
We know it sucks in the US.

How bad does it suck in the zone.

My guess... worse than most think.

LOL.

I would still look out for a retrace to above 50 before we plunge. My two cents. We have gone far far South since 1.68
  • #19,937
  • Aug 12, 2008 1:31pm Aug 12, 2008 1:31pm
Quoting seesaw
LOL.

I would still look out for a retrace to above 50 before we plunge. My two cents. We have gone far far South since 1.68
No arguments here.
  • #19,938
  • Aug 12, 2008 1:51pm Aug 12, 2008 1:51pm
itstime to sell eu..for 20 pips..coz it wont go up tonight..maybe tomorrow i think
  • #19,939
  • Aug 12, 2008 1:51pm Aug 12, 2008 1:51pm
Quoting seesaw
LOL.

I would still look out for a retrace to above 50 before we plunge. My two cents. We have gone far far South since 1.68
It all depends on GDP data coming on Thurday. If it comes positive then I think it will move up but then again might not stay high for too long.
Trend is downard. Euro is ready to cut rate as soon as inflation will come down.
If US hike and EU cut which one you think should appreciate? That's a million dollar question.
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  • #19,940
  • Aug 12, 2008 2:03pm Aug 12, 2008 2:03pm
Quoting atif
It all depends on GDP data coming on Thurday. If it comes positive then I think it will move up but then again might not stay high for too long.
Trend is downard. Euro is ready to cut rate as soon as inflation will come down.
If US hike and EU cut which one you think should appreciate? That's a million dollar question.
Dude, you have to re read the post.
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