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  • #90,421
  • Apr 29, 2009 7:31am Apr 29, 2009 7:31am
Quoting plan-b
if you are already in a long trade then good for you but i dont think now is a good time to enter..
a combination of news and big boys playing can completly reverse that rally

GDP -6.1%
Some drink at the fountain of knowledge. Others just gargle !
  • #90,422
  • Apr 29, 2009 7:32am Apr 29, 2009 7:32am
Quoting Alderlug
Eurusd is ready to explode up to 1.36 and higher. Fasten your seatbelts for the ride of your life!
should i pack a lunch?
those who can, do. those who cant, talk about those who can
  • #90,423
  • Apr 29, 2009 7:32am Apr 29, 2009 7:32am
Then bad news now, short Euro
  • #90,424
  • Apr 29, 2009 7:34am Apr 29, 2009 7:34am
Gotta love new reactions...

8:30amUSDAdvance GDP q/q actual-6.1%projected-4.8%
previous-6.3%
dosen't meet projections and it helps?
Designer by day Trader by night.
  • #90,425
  • Apr 29, 2009 7:36am Apr 29, 2009 7:36am
[US GDP] fell at a 6.1% annual rate in Q1, a good bit worse than the expected 4.7% to 5.0% decline. Exports were the biggest drag, costing 4.06% of GDP, but that was more than offset by a 6.05% lift from the decline in imports, for a 2% add to GDP from trade. Inventory adjustment was the second biggest drag on output, costing 2.79% in growth in the quarter. Consumer spending rose 2.2% in Q1, far more than expected, and gave a 1.5% lift to GDP. That combination of inventories and consumption is better than expected, and takes some of the sting from the bad headline.
those who can, do. those who cant, talk about those who can
  • #90,426
  • Apr 29, 2009 7:38am Apr 29, 2009 7:38am
Quoting ragnakore
US Durable Goods for February was greatly revised downward from 3.9% to 2.0%. it was noted that it will drag Q1 GDP down as well.
So my tipster was correct..
  • #90,427
  • Apr 29, 2009 7:38am Apr 29, 2009 7:38am
Looking long yet to me/I dunno
  • #90,428
  • Apr 29, 2009 7:39am Apr 29, 2009 7:39am
might want to wait till dust settles.. dollar gaining some strength...but todays trend may resume..still wait time for me..excluding trades already in... but imports did decline usually means dollar strength..also spending increased at same time.. meaning u.s. consumers are buying u.s. products and service.(fixing crap they already own or buying domestic).definately not good for euro vs dollar.. pa not a clear picture at this time..
those who can, do. those who cant, talk about those who can
  • #90,429
  • Apr 29, 2009 7:43am Apr 29, 2009 7:43am
Good luck all!
  • #90,430
  • Apr 29, 2009 7:45am Apr 29, 2009 7:45am
Consumer Spending is positive.
A tiny light in the dark.

And its being looked at as rally point for Bulls.
  • #90,431
  • Apr 29, 2009 7:47am Apr 29, 2009 7:47am
Quoting gatorinla
might want to wait till dust settles.. dollar gaining some strength...but todays trend may resume..still wait time for me..excluding trades already in... but imports did decline usually means dollar strength..also spending increased at same time.. meaning u.s. consumers are buying u.s. products and service.(fixing crap they already own or buying domestic).definately not good for euro vs dollar.. pa not a clear picture at this time..
no not usaully bull... we are buying less euro products
those who can, do. those who cant, talk about those who can
  • #90,432
  • Apr 29, 2009 7:47am Apr 29, 2009 7:47am
hi,sorry i`m newbie trading forex. yesterday i short eu 1.2989. now still lose..anybody can give suggestion? thanks for help...
  • #90,433
  • Apr 29, 2009 7:49am Apr 29, 2009 7:49am
according to me, there is a quite strong bear candle at the one hour, this might signal a bear trend towards 3070 or 3050's... but if it can breach thru 3278, then bulls win the day.. any ideas upon this?
  • #90,434
  • Apr 29, 2009 7:50am Apr 29, 2009 7:50am
Notice how these 3 candle wicks get progressively longer. Very subtle, but a bearish sign.

MK
Attached Image (click to enlarge)
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  • #90,435
  • Apr 29, 2009 7:50am Apr 29, 2009 7:50am
Quoting chun2009
hi,sorry i`m newbie trading forex. yesterday i short eu 1.2989. now still lose..anybody can give suggestion? thanks for help...
wait... it may turn..
those who can, do. those who cant, talk about those who can
  • #90,436
  • Apr 29, 2009 7:52am Apr 29, 2009 7:52am
Quoting chun2009
hi,sorry i`m newbie trading forex. yesterday i short eu 1.2989. now still lose..anybody can give suggestion? thanks for help...
consider putting sl at todays high
those who can, do. those who cant, talk about those who can
  • #90,437
  • Apr 29, 2009 7:55am Apr 29, 2009 7:55am
1.3262 level short worked out for me on second go. Anyone else profited from short or are holding for more?
  • #90,438
  • Apr 29, 2009 7:55am Apr 29, 2009 7:55am
Hi Everyone,

I've been following this thread for a while now but this is my first post today. I would first just like to say thanks to everyone here....i have learned a great deal from this thread.

One thing i do not understand is why EUR/USD is going down when we have bad US GDP News. Can someone please help me understand this?

Thank you.
  • #90,439
  • Apr 29, 2009 7:58am Apr 29, 2009 7:58am
Quoting BlueSky07
Hi Everyone,

I've been following this thread for a while now but this is my first post today. I would first just like to say thanks to everyone here....i have learned a great deal from this thread.

One thing i do not understand is why EUR/USD is going down when we have bad US GDP News. Can someone please help me understand this?

Thank you.
Cause you need to wait, there hv a another big news regarding FED Interest Rate.
  • #90,440
  • Apr 29, 2009 8:03am Apr 29, 2009 8:03am
Quoting BlueSky07
Hi Everyone,

I've been following this thread for a while now but this is my first post today. I would first just like to say thanks to everyone here....i have learned a great deal from this thread.

One thing i do not understand is why EUR/USD is going down when we have bad US GDP News. Can someone please help me understand this?

Thank you.
USD is considered safe haven, so there was a lot of buying last few months for fear of the effects of the credit crunch. Bad news for the economy means fear persists. So more dollar strength. Now with the swine flu, this is a catalyst to move markets away from the dollar to find a safer haven. I see that catalyst persisting for some time, so should drive Eur/USD higher. Just my simple explanation. I am sure an economics expert would give a more enlightening explanation.
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