EURUSD

Thanks trading801,

I have long bias on Daily timeframe and I am married to this trade. However, one good thing about trading is that one can always divorce a trade anytime at a click, no questions asked and still saves fortune .........much different than divorcing wife.

L O L

What's the point having a big GDP if you still spend WAY more than you earn ?
California being on the brink of bankruptcy, I wouldn't cite it as an example...

Now talking about EU being shit...
For 2008 (Source)

Europe GDP is 18 850 T $ making 30,28% of the total world GDP.
Germany GDP is 3 818 T $ making 6,13% of world GDP.
Europe without Germany is 15032 T $ making 24.15% of world GDP.
US GDP is 14 250 T $ making 23.02% of world GDP.

Even without Germany, the EU still the #1 economic bloc on a GDP basis. I wouldn't call that "shit" !!!

Get your facts straight people, The euro isn't the #2 reserve currency without reasons, and just imagine for a second what it would have been if Soros didn't crush the Pound out of the European Exchange Rate Mechanism in 1992. The pound would have become a component of the euro, giving it even more strength (and the UK would probably be in less deep hole today...).
All is not rosy, but the EU is the world most powerful and stable bloc in the world, on almost all standards.

And a last word for our Americans friends.
Being clearly on the decline, you shouldn't be so arrogant with foreign countries, don't forget that it's the savings of the world best economic countries that keeps you afloat, not the other way around...

toshi, are u sitting in my head ?
ppl dont forget that eurozone is not only Germany and France there is big consumers market such as Spain(46 milion of ppl) and Poland(40 mil), when this end we will face real problem.

Alright, we still kick some ass in football, though. And when the crazy rooskis and fanatical hordes come knockin, who ya gonna call?

FWIW I posted this a while back.

http://www.forexfactory.com/showpost...stcount=122920

I think US would actually like a stronger Euro whatever thay may say in public and Germany will resist a weaker Euro bcos that will fuel inflation and they have painful memories of hyper-inflation.

Anyway I try to ignore the funnymentals and just trade my charts and IMO the trend is still up and I'm still buying the dips lol.

so where you gonna cut your losses ?

I am on the bull side overall , how much down it may go now ,yet chances are not any less.AB=CD=600pips ,other bullish set up will be much more .see the picture.
fontu

My line in the sand is 3750 but it won't go anywhere close.

Hey Fishy

Just read this article and thought of you. It's about a month old but still interesting to see another perspective.

http://www.financialsense.com/fsu/ed...2009/0626.html

very well then
yes i agree below that level stop losses drive euro to the ground.

I agree with most of u guyz here about the bearish perspective.

Although, the pair is in an uptrend at present, but a reversal is quite possible. EURUSD is strongly resisting off the declining trendline (see chart below) + the 78.6% level from the 1.4406 to 1.2456 move. Long shadow from the last few days also add to the sell-off probability in the near-term.

Just my 2 cents.

sorry dont get ur question

july 8th is not 2 weks ago come on : )

i have no defence to myselfe
trade ur chart but watch out for massive sell of in coming days.
One more thing is much easier to follow trend moves than predict reversal.

Thats a very bold statement - have u got anything to back up your opinion??

And yes it is easier to follow trends - but why do u think that is - bcos picking tops and bottoms is a mugs game.

yes i am... but no one cares anyway

maybe this post or this or this or this or ..... but finally we gonna get lost all anyway , doesnt matter.

http://www.forexfactory.com/showpost...postcount=1022
http://www.forexfactory.com/showthre...104294&page=23

and many others

You must be joking right?

Welcome to my iggy list

i am glad
no problem anyway ....

Well, maybe I am... it's kinda cozy in here. who's the interior decorator ?

Anyway, here are some stats ala GDP.

Top 10 producing US states GSP (gross state product)

California is lousy example in the #1 spot because
it's budget and finances have been so poorly mismanaged.

Dollars (2008)
1 California ---1.85 Trillion
2 Texas ----- 1.22 Trillion
3 New York---1.14 Trillion
4 Florida------- 744 Billion
5 Illinois------- 633 Billion
6 Pennsylvania -553 Billion
7 New Jersey --475 Billion
8 Ohio---------472 Billion
9 North Carolina 400 Billion
10 Georgia -----398 Billion

Total: 7.9 Trillion (in USD)

Every one of these states have financial problems, due to some type of mismanagement.
Either they're spending to much on something or the potiticos are stealing too much,
or maybe both.

Now for the EuroZone. As stated, some of these member nations
have outputs less than some of these states.
Numbers are from 2008 and are quoted in Euros and Dollars @ 1.43 EUR/USD:

------------------Euro (millions) ----in USD at 1.43 (millions)
1 Germany ----------2,390,683 --------3,418,677
2 United Kingdom ---1,802,277 ---------2,577,256
3 France ---------- 1,726,666 ---------2,469,132
4 Italy ------------ 1,489,163 ---------2,129,503
5 Spain ----------- 1,193,807 ---------1,707,144
6 Netherlands ------- 553,252 -----------791,150
7 Poland -------------527,684 -----------754,588 .....Yippee !
8 Belgium ----------- 313,736 -----------448,642
9 Sweden -----------284,887 -----------407,388
10 Greece ---------- 272,185 -----------389,225
11 Austria ---------- 260,712 -----------372,818
12 Romania ----------241,902-----------345,920
13 Portugal --------- 201,259-----------287,800
14 Czech Republic ---210,214 -----------300,606
15 Denmark ---------163,067 ---------- 233,186
17 Ireland ---------- 160,261 -----------229,173
16 Hungary ---------155,486 -----------222,345
18 Finland ---------- 153,334 ---------- 219,268
19 Slovakia ---------- 95,362 -----------136,368
20 Bulgaria -----------76,814 -----------109,844
21 Lithuania ----------51,118 ------------73,099
22 Slovenia -----------46,489 -----------66,479
23 Latvia -------------31,473 -----------45,006
24 Luxembourg ------- 32,086 -----------45,883
25 Estonia ------------21,660 -----------30,974
26 Cyprus ------------ 18,501 -----------26,456
27 Malta -------------- 8,181 -----------11,699

*Total of over $18 Trillion in USD includes nations
which have not yet joined the Union, but are
friendly to the Euro as a medium of exchange.

Now that doesn't mean Greece is not a lovely country. It certainly is.
Especially if you like fudge . But by comparison, the Fudgepackers in New Jersey
have the entire nation of Greece out produced atleast 20 %.

(No offense intended to any fudgepacker in New Jersey.
You keep on bangin' that ass and more power to 'ya !)

So those are some facts. Remeber there are Lies, Damn Lies and Statistics.
I'll bet EVERYONE's numbers in the US and abroad will be lower for 2009.

The Eurozone's ECB and it's gate keepers are a different bunch than the US FED.
That's for sure. Myself, I don't want to produce anything or export anything.

".....Hello, Hong Kong Fooey ? Send me mucho mucho chinese crap. chop chop..."
"...what's that, how I pay ? do you take visa ? okay then, lickity split...."
"...what's that ? you don't lickty split ?" " well, hurry up anyway with my cheep chinese crap..."
"...I'll give you some t-bonds. sound okay ? cool..."

If I had a billion dollars, I'd still be a wretched person (with a billion dollars though, so it's ok)
Soros has make alot of things happen. Some to his own benefit and also to the benefit of many others.
He's not Bill Gates. He's not Warren Buffet. He's a different type. Traders have to be.

Study this one when you can.