Benny be carefull with that signature, marketing not allowed.
- #30,122
- Sep 15, 2008 1:48am Sep 15, 2008 1:48am
I'm watching CNBC at the moment. Man, talk about doom and gloom.
Looks like the USD is under a lot more pressure than I thought. Heck, we could see the EURO go back up strongly towards the 1.6 levels before this year is out.
Couple of reasons for that.
1. Fall of Freddie and Fannie, Fall of Leeman brothers, now looking like AIG in trouble along with possibly morgan stanly down the track.
2. Merryl was looking to go the way of leeman brothers if not for Bank of America saving it.
3. There is still probably 1 trillion dollars to write off from freddie and fanny.
4. More banks will bite the dust.
5. Despite Trichet being crazy for not cutting rates in EU zone...hmm..it seems like he may not be so crazy after all. He has a plan for EU to be growing by the end of 2010. No news of growth for US. And despite bad news coming out the USD continues to grow in strength.
6. Because the USD is increasing in strength and all this bad news is coming out. It is my belief the EUR/USD is going to make a HUGE reversal and head back up.
7. Global Recession is on the cards.
This could all be me stupidly listening to the news but I find this to be very interesting. I could change my opinion as things happen but I feel really worried about USA now
The only thing that keeps the dollar strengh is the Goverments intervention aka BS downtrend with no Fundamentals behind it. It should stop eventually but until then its hard to say when the reversal will happen . Still more people are seeing threw this and bulls are gettin ready for a rally. One more thing dont always believe what the media tells you , until its "The End" they'll be tellin us that everythings ei ok .
simple....
- #30,123
- Sep 15, 2008 2:02am Sep 15, 2008 2:02am
- | Joined May 2008 | Status: Nudist | 1,098 Posts
Well buddy u're late with those points by about a month
- #30,124
- Sep 15, 2008 2:06am Sep 15, 2008 2:06am
- Joined Nov 2005 | Status: EURUSD Quant FREAK | 3,197 Posts
- #30,126
- Sep 15, 2008 2:13am Sep 15, 2008 2:13am
- Joined Oct 2007 | Status: Pip Seer | 1,299 Posts
Pip what you see; See what you pip!
- #30,127
- Sep 15, 2008 2:14am Sep 15, 2008 2:14am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
At this time it doesn't look like trading it's just gambling.
Different opinions highly valued, ignorant to slander.
- #30,128
- Sep 15, 2008 2:21am Sep 15, 2008 2:21am
- | Joined May 2008 | Status: Nudist | 1,098 Posts
We have touch down on monthly long term support. Covered the last of my shorts from 1.60.
Nice weekly pb that I'll trade the 50-61.8% retrace after this fiasco settles.
Although, looking back, it was the fall of Bear Stearns that halted the run up in March, the collapse of Freddies Fanny saw the run down to here, where will this Lehman Brothers dilemma take us? Surely wreaks of intervention.
Clear break of 1.37/38 and this thing may sink like the titanic.
Nice weekly pb that I'll trade the 50-61.8% retrace after this fiasco settles.
Although, looking back, it was the fall of Bear Stearns that halted the run up in March, the collapse of Freddies Fanny saw the run down to here, where will this Lehman Brothers dilemma take us? Surely wreaks of intervention.
Clear break of 1.37/38 and this thing may sink like the titanic.
- #30,130
- Sep 15, 2008 2:24am Sep 15, 2008 2:24am
- | Joined Jul 2008 | Status: Happiness can only come from within | 1,080 Posts
Well buddy u're late with those points by about a month
In any event, I only trade what is on the chart but still, watching the news is entertainment for me.
- #30,131
- Sep 15, 2008 2:36am Sep 15, 2008 2:36am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
On the path to Enrichment.
- #30,132
- Sep 15, 2008 2:38am Sep 15, 2008 2:38am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
It broke the uptrend channel at 43. If monthly s1 at 282 is broken again, solid this time, we're going down to 41 area. Also, could be forming an h&s first, with a second shoulder at 350 now and then a break through the base at the same s1 point will signal the same.
...to me all indicators are lagging...only fibs and trendlines are worth using...supports/resistances..stuff like thatright now for example...that chart i posted with the down channel...it just tapped it again but couldnt break it
Different opinions highly valued, ignorant to slander.
- #30,133
- Sep 15, 2008 2:40am Sep 15, 2008 2:40am
- Joined Mar 2008 | Status: Still testing and trading | 1,454 Posts
- #30,134
- Sep 15, 2008 2:41am Sep 15, 2008 2:41am
- Joined Apr 2007 | Status: Evil Kraut | 2,559 Posts
As the day progresses it will be interesting to see if the bulls are willing to take their longs into the weekend.
I will.
...entered a new one at 779... sorry for the Gold chart, have done the same with my EU longs...
- #30,135
- Sep 15, 2008 2:45am Sep 15, 2008 2:45am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #30,136
- Sep 15, 2008 2:45am Sep 15, 2008 2:45am
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
TRADE FOR SWAP
- #30,138
- Sep 15, 2008 3:04am Sep 15, 2008 3:04am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
this is how i see things now...i made a grave error by forgetting about the up channel started last week(thanks jurassic for the heads up). right now its hard to say where it will go...probably will trend until trichet talks
Different opinions highly valued, ignorant to slander.
- #30,139
- Sep 15, 2008 3:13am Sep 15, 2008 3:13am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
On the path to Enrichment.
- #30,140
- Sep 15, 2008 3:27am Sep 15, 2008 3:27am
- Joined Nov 2005 | Status: EURUSD Quant FREAK | 3,197 Posts
down -148 pips so far tonight.... one of the worst days for me in a long time....
long right now....
long right now....