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  • #106,581
  • Jun 5, 2009 4:54am Jun 5, 2009 4:54am
Quoting The Fool
Bloomberg talking head says he expects NFP @ 450k, less than forecast. So good news for US & E/U goes down, right? But overall unemployment rate will continue to go up....baaaaad news for US. So, what will happen to E/U?

I am betting on E/U upside move based on another green day in the Dow....
Don't trade the news, that's your best bet. If you really must trade today, wait for the rally to stop and open a position towards starting point because price consolidates after every rush. Don't go in before the NFEC because you can't know which way the price will go unless you're a Jedi Master, then it's okay.
  • #106,582
  • Jun 5, 2009 4:55am Jun 5, 2009 4:55am
Quoting TheFisherman

You welcome.
Fishyman, am I right to assume lagging indicator like NFP should be trumped by more current indications like strength in the stock markets, commodities, etc...?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #106,583
  • Jun 5, 2009 4:57am Jun 5, 2009 4:57am
BERLIN (Dow Jones)--Some progress has been made in stabilizing the world economy but more needs to be done, U.S. President Barack Obama said Friday.

Speaking at a joint press conference in Dresden with German Chancellor Angela Merkel, Obama also said that borders for trade must be kept open.

"We continue to work closely together to confront the global economic crisis, to restore growth and prosperity for our people. The downturn knows no borders and it will take some time and sustained action by all of us to move forward," Obama said.

He said that at the last meeting of Group of 20 industrial and developing nations, countries have successfully laid out parameters for collective action.

"We've seen, I think, on both sides of the Atlantic some progress in stabilizing the economy, but we are far from done in the work that's required," Obama said.

The U.S. is working on strengthening financial regulation to ensure that a future crisis doesn't happen again, he said.

"We affirmed that we are not going to engage in protectionism," Obama said. He added that all efforts to restore the economy have to ensure "that we keep our borders open and that companies can move back and forth between the U.S. and Europe."

Merkel told reporters it is "important" that decisions made at the London summit of the Group of 20 developed and developing nations are implemented.

Obama's trip to Germany Friday will include a visit to a concentration camp in eastern Germany and the U.S. military hospital in Landstuhl.
  • #106,584
  • Jun 5, 2009 4:58am Jun 5, 2009 4:58am
Hi Govno. Nice nickname you have there
You wont survive without preserving!!!
  • #106,585
  • Jun 5, 2009 4:59am Jun 5, 2009 4:59am
Quoting govno
Don't trade the news, that's your best bet... unless you're a Jedi Master, then it's okay.
I load up another hookah & I will be. Actually, I have some longs I will let ride they not very big.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #106,586
  • Jun 5, 2009 5:00am Jun 5, 2009 5:00am
Thanks for clearing that up. Just a little more lite reading I see . Will read between pips.
  • #106,587
  • Jun 5, 2009 5:02am Jun 5, 2009 5:02am
Quoting mmcfarlane
Thanks for clearing that up. Just a little more lite reading I see . Will read between pips.
why dont u check out Forexfactory calender section...all details are given there just click on the blue icon.
  • #106,588
  • Jun 5, 2009 5:06am Jun 5, 2009 5:06am
Half of short closed for 55 pips. I may take the rest out before the news, or at least move SL to BE. After what I made this week I'm at a great starting point for Monday...
  • #106,589
  • Jun 5, 2009 5:06am Jun 5, 2009 5:06am
Quoting The Fool
Fishyman, am I right to assume lagging indicator like NFP should be trumped by more current indications like strength in the stock markets, commodities, etc...?
Nope. NFP is actually a leading indicator. Equities look at it to take decisions, commodities not. Today's release it's important IF the actual data differs from the prediction, based on the theory that predicted value is already priced in. So a better reading than predicted would move equity prices accordingly and would take USD down (inverse correlation with equities). Same for worse readings. Also, during news time, institutional traders pull the orders off leaving the market almost empty and to the hand of the scavenger brokers that sometimes make a whipsaw just before institutional orders are back thus taking retail traders' money either by hitting SL or in worst case (see March) by margin calls.
  • #106,590
  • Jun 5, 2009 5:07am Jun 5, 2009 5:07am
I'm waiting at 1.4156 for a long trip. Must go now. Back later. SL 18 pips.
  • #106,591
  • Jun 5, 2009 5:08am Jun 5, 2009 5:08am
Atlast, got your PP short?
  • #106,592
  • Jun 5, 2009 5:09am Jun 5, 2009 5:09am
Quoting coronajazz
Hi Govno. Nice nickname you have there
If I had a nickle for every time I hear that...

Even if we see some good numbers for USD at NFP, the fall might just be temporary. We're still generally bullish and unemployment rate could climb up to 9,2%, biggest since 1983, GM selling its brands and bankrupting, Geithner selling treasuries to Chinese, Obama announcing Gay Parade in July... I mean, do you see any reason to short?
  • #106,593
  • Jun 5, 2009 5:11am Jun 5, 2009 5:11am
Quoting govno
If I had a nickle for every time I hear that...

Even if we see some good numbers for USD at NFP, the fall might just be temporary. We're still generally bullish and unemployment rate could climb up to 9,2%, biggest since 1983, GM selling its brands and bankrupting, Geithner selling treasuries to Chinese, Obama announcing Gay Parade in July... I mean, do you see any reason to short?
...Gay Parade?
  • #106,594
  • Jun 5, 2009 5:12am Jun 5, 2009 5:12am
Quoting Alihuzaifa
why dont u check out Forexfactory calender section...all details are given there just click on the blue icon.
Yep seen all that but I'm new too all this and at the moment I see it but it has no meaning. What I'm trying to learn is the what these things are and how they impact what I'm doing.
  • #106,595
  • Jun 5, 2009 5:14am Jun 5, 2009 5:14am
Quoting TheFisherman
...Gay Parade?
That's June, my bad.

http://www.rttnews.com/ArticleView.a...=966026&SMap=1
  • #106,596
  • Jun 5, 2009 5:15am Jun 5, 2009 5:15am
Quoting mmcfarlane
Yep seen all that but I'm new too all this and at the moment I see it but it has no meaning. What I'm trying to learn is the what these things are and how they impact what I'm doing.
oh nice but dear that will take few years to understand.
  • #106,597
  • Jun 5, 2009 5:16am Jun 5, 2009 5:16am
The EUR/USD broke through 1.4100 to confirm the head and shoulders sell on the hourly, only to frustratingly rally back up as GBP continues to be the preferential sell. At the moment, as long as the 1.4241 highs hold on EUR/USD, the bias should be short from here. If those highs go I'd shift to neutral. If we do resume downside price action as we've seen on the GBP, the 1.3800 level is a likely medium term target. One big reason the GBP has been weak are rumors of UK Prime Minister Brown potentially resigning. These rumors have been refuted by his office, but the markets definitely still smell blood.
May the pips be with you!
  • #106,598
  • Jun 5, 2009 5:17am Jun 5, 2009 5:17am
Quoting Alihuzaifa
oh nice but dear that will take few years to understand.

Thats ok... I'm only 99 so I got plenty of time... You gotta start somewhere huh!
  • #106,599
  • Jun 5, 2009 5:20am Jun 5, 2009 5:20am
Quoting mmcfarlane
Yep seen all that but I'm new too all this and at the moment I see it but it has no meaning. What I'm trying to learn is the what these things are and how they impact what I'm doing.
Here is a video with nice explanation of non farm payrolls, what does it mean, how to trade it etc...
http://www.informedtrades.com/15030-...olls-nfps.html
You wont survive without preserving!!!
  • #106,600
  • Jun 5, 2009 5:21am Jun 5, 2009 5:21am
Quoting mmcfarlane
Thats ok... I'm only 99 so I got plenty of time... You gotta start somewhere huh!
i am 25 and i really dont have much time to understand all this...wanna buy a villa in Dubai and a yatch for my self next year.wish me luck lol
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