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  • #36,781
  • Oct 3, 2008 12:48pm Oct 3, 2008 12:48pm
Quoting microsuck_36
this week is crazy week xcept on monday and tuesday

this week is crazy week xcept on Satarday and Sunday
Never sell @ lower upward channel unless breacked and vise versa .
  • #36,782
  • Oct 3, 2008 12:48pm Oct 3, 2008 12:48pm
Quoting ItalianSharp
Well, if you've been around long enough you'll know that markets anticipate fundamentals. You read this right, markets are much faster than economics.

The dollar has been rallying to the disbelief of many economists, analysts and traders. Everyone is scratching his head as to why EURUSD isn't trading above 1.60 yet. Some desperate souls are even waiting for the dollar to depreciate sharply soon due to the bad financial crisis we are into.

I've been a dollar bull for over a year and if you look up my prior posts, you'll see that for yourself.

The trend has changed rapidly from up to down. IMO we are due for a multi-year downtrend with this pair.

As much as the US economy is in trouble, at least they have been acting swiftly to tackle their economic woes. The FED slashed down rates, injected billions of cash into the economy, purchased stakes into troubled financial institutions and is about to approve an historic $700 billion rescue plan to shore up confidence in the banking industry.

I am not judging the actions of the FED, all I am saying is that they have been trying to make things better. These are people who work 24/7 even on weekends.

On the other side of the world, you have Europe who doesn't really have a central bank that can take care of things the way the FED does.

Even today Mr. Trichet reminded everyone how his mandate imposes him to keep inflation under control.

I doubt it that the EU is immune to this global financial crisis. The Fortis rescue by the Benelux governments is a clear proof that the flu has hit European shores as well and is knocking at the door now.

Now, think about this:

You have the two biggest economies in the world facing financial trouble.

Would you rather sit your assets into the more structured, more united, and more credible - at least off its track record - economy, or place it somewhere else where decisions are tough to make due to the many differences of language, culture, rivarly, etc.

The EURUSD downtrend is simply anticipating what's going to wind out in the next few years.

It's a totally new ball game today.

I agree that things changed very quickly, but as traders we need to accept reality and adapt to what the market is telling us.
this is the best fundamental post i have ever seen. clear and concise...i suggest you all read it in its entirety as he is 100% correct
Different opinions highly valued, ignorant to slander.
  • #36,783
  • Oct 3, 2008 12:51pm Oct 3, 2008 12:51pm
Quoting psiholog
this is the best fundamental post i have ever seen. clear and concise...i suggest you all read it in its entirety as he is 100% correct
the boat also feels with this fundamental post
  • #36,784
  • Edited 12:54pm Oct 3, 2008 12:51pm | Edited 12:54pm
Quoting psiholog
this is the best fundamental post i have ever seen. clear and concise...i suggest you all read it in its entirety as he is 100% correct

was that posted yesterday?


Originally Posted by ak4x http://www.forexfactory.com/images/buttons/viewpost.gif
Ahhh, what mischief is afoot on the blue green orb as it meanders around the cosmos. Careful with those long term longs...

6 months along and spot on so far imo.

http://www.forbes.com/opinions/forbe.../0421/034.html
  • #36,785
  • Oct 3, 2008 12:55pm Oct 3, 2008 12:55pm
Quoting WedWed
this week is crazy week xcept on Satarday and Sunday
  • #36,786
  • Oct 3, 2008 12:56pm Oct 3, 2008 12:56pm
Quoting psiholog
this is the best fundamental post i have ever seen. clear and concise...i suggest you all read it in its entirety as he is 100% correct
...... and I am saying to everyone, forex do not follow straight lines!!
Think about it!
I am bearish too on Euro, my Long Position 1.3703 it is to be closed soon.
I am waiting to see where will it close today!
I think you guys are not understand how I trade!
I remember again, Protect your Position today, either Longs or Shorts!
  • #36,787
  • Oct 3, 2008 12:58pm Oct 3, 2008 12:58pm
To italianSharp's post I would add that the recent strength in the USD is attributable primarily to liquidity-issues. If everyone is trying to buy dollars in the spot market because there isn't enough going around elsewhere, it should make sense to anyone that this causes a rise in the dollar value across the board.

Now we know what's gonna happen, people can relax again soon, and if you've been paying attention than the long-term direction of the USD should not be hard to get a handle on.

Meanwhile in a fast market like this one its almost irrelevant if you're long or short as long as you're scalping. It's already quieting down though.

Quoting psiholog
this is the best fundamental post i have ever seen. clear and concise...i suggest you all read it in its entirety as he is 100% correct
  • #36,788
  • Oct 3, 2008 12:58pm Oct 3, 2008 12:58pm
  • #36,789
  • Oct 3, 2008 12:59pm Oct 3, 2008 12:59pm
as you can all see...the market is very volatile and erratic right now...its trying to determine direction.
current strong resistance 1.3882 and support 1.3700...i strongly suggest you do not take a position or have a position open over the weekend...this is bloody and messy and no technicals involved. those of you who are in positions already...may the god of pips help us all
Different opinions highly valued, ignorant to slander.
  • #36,790
  • Oct 3, 2008 1:01pm Oct 3, 2008 1:01pm
Quoting psiholog
as you can all see...the market is very volatile and erratic right now...its trying to determine direction.
current strong resistance 1.3882 and support 1.3700...i strongly suggest you do not take a position or have a position open over the weekend...this is bloody and messy and no technicals involved. those of you who are in positions already...may the god of pips help us all
AMEN
  • #36,791
  • Oct 3, 2008 1:02pm Oct 3, 2008 1:02pm
Quoting psiholog
as you can all see...the market is very volatile and erratic right now...its trying to determine direction.
current strong resistance 1.3882 and support 1.3700...i strongly suggest you do not take a position or have a position open over the weekend...this is bloody and messy and no technicals involved. those of you who are in positions already...may the god of pips help us all
maybe god of pips is trying to stop hunt now for all the "sins" of greed lol
  • #36,792
  • Oct 3, 2008 1:02pm Oct 3, 2008 1:02pm
I just readded new short.. SL is tight.. I got stopped out.. that means thats it for today
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Money often costs too much...
  • #36,793
  • Oct 3, 2008 1:04pm Oct 3, 2008 1:04pm
Quoting trading801
maybe god of pips is trying to stop hunt now for all the "sins" of greed lol
....or maybe kill the sheep so only the wolves survive haha
Different opinions highly valued, ignorant to slander.
  • #36,794
  • Oct 3, 2008 1:05pm Oct 3, 2008 1:05pm
And please come by soon......I am having a "pip" attack

Quoting jmaster
AMEN
  • #36,795
  • Oct 3, 2008 1:05pm Oct 3, 2008 1:05pm
Quoting digitil
To italianSharp's post I would add that the recent strength in the USD is attributable primarily to liquidity-issues. If everyone is trying to buy dollars in the spot market because there isn't enough going around elsewhere, it should make sense to anyone that this causes a rise in the dollar value across the board.

Now we know what's gonna happen, people can relax again soon, and if you've been paying attention than the long-term direction of the USD should not be hard to get a handle on.

Meanwhile in a fast market like this one its almost irrelevant if you're long or short as long as you're scalping. It's already quieting down though.
True up!

Basic economic principle of supply and demand.

Demand of dollar as safehaven increases its value, hence dumping of other currencies.

So---med.-long term direction should be evident barring outside events such as catastrophes, terrorist strikes, and CB interventions.

For Bush and rest of government, happy of themselves they are.

Stay tuned for the sequel upcoming in your local European country!
  • #36,796
  • Oct 3, 2008 1:06pm Oct 3, 2008 1:06pm
And what I am earing is LONGS!
I do not advice anyone to open positions now.
Only Longs Below 1.3727 can be safe with a SL at BE.
If price today go to 1.39 and you have a Long below 1.3727 do not close your position, otherwise closed it!
  • #36,797
  • Oct 3, 2008 1:07pm Oct 3, 2008 1:07pm
Bernanke has just come over the wires with some very reassuring comments saying that "all powers are at our disposal" to ease the credit strains and help foster a strong economy. Bernanke goes on to say that this is a critical step to stabilize the financial system and that the Fed will work closely with the Treasury as it undertakes new initiatives in financial rescue

im wondering how long it will take before americas finacial markets turn out to be worse than they are today./
  • #36,798
  • Oct 3, 2008 1:10pm Oct 3, 2008 1:10pm
Quoting emda
it's Friday... big week down.. time to get profit for the week...
how is that Friday take profit operation going ? at least 100 pips
  • #36,799
  • Oct 3, 2008 1:11pm Oct 3, 2008 1:11pm
from long time.. SHORT Position Openrd..
i will kill my self now with StopLoss @ 1.925
Never sell @ lower upward channel unless breacked and vise versa .
  • #36,800
  • Oct 3, 2008 1:13pm Oct 3, 2008 1:13pm
This is better that I was waiting, if 1.3910 is crossed this baby goes to 1.4050
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