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EURUSD

  • #148,081
  • Sep 30, 2009 10:01am Sep 30, 2009 10:01am
The dollar’s share of foreign currency reserves fell to its lowest level since the introduction of the euro in 1999. It share is now 62.8% while the euro gained to 27.5%. The dollar obviously is still the main reserve currency, but we are seeing diversification, albeit slowly. Increased willingness by foreign countries to hold the euro will provide for euro strength and dollar weakness long term. The US market is down this morning on the purchasing report concerns, but Lockhart reaffirmed the Fed’s need to keep the status quo in the monetary arena – probably helping to prop up the euro’s continued strength. Looking at employment numbers today and then monitoring for tomorrow: 02:30 SW Sep manufacturing PMI; 04:00 NO Sep unemployment; 04:00 EZ Sep-F manufacturing PMI; 04:30 UK Sep manufacturing PMI; 05:00 EZ Aug unemployment; 05:00 GE Aug retail sales; 08:30 US initial claims and Aug personal income/spending; 10:00 US Sep ISM & Aug construction; afternoon US Sep vehicle sales; 19:30 Aug JP jobless rate.
  • #148,082
  • Sep 30, 2009 10:14am Sep 30, 2009 10:14am
Looks like a Morning Star is forming at the .9077 area. A tight stop below the low of the doji could be placed and an entry at the break of the red trend line to target the .9217 to .9255 area.
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  • #148,083
  • Sep 30, 2009 10:15am Sep 30, 2009 10:15am
trading801 Goldman are the biggest scammers in this planet. When you read this you will understand

http://www.rollingstone.com/politics...bble_machine/1
  • #148,084
  • Sep 30, 2009 10:23am Sep 30, 2009 10:23am
oil might exceed 70 by friday....... euro is quite weak compared to aud.... i really dont no what the problem is. sometimes i wish i trade aud
  • #148,085
  • Sep 30, 2009 10:25am Sep 30, 2009 10:25am
thanks all.. will go read..
  • #148,086
  • Sep 30, 2009 10:38am Sep 30, 2009 10:38am
Sorry for the lateness of this question, but according to FXCM MT4 platform indicator volumes were super-high 4 hours ago, why was that? :S

Rob.
  • #148,087
  • Sep 30, 2009 10:40am Sep 30, 2009 10:40am
Quoting trading801
hi buddy... thanks for taking notice.. what meant is.. i always see goldman mentioned in sarcastic jokes about the crisis so i am wondering what did they do to earn this "reputation "
1) Smart guys at Goldman. They new what they were doing was shit. Goldman didn’t believe its own hype. Other banks invested heavily in the same toxic waste they were selling to the public at large.

2) Goldman made a lot of money selling securities backed by subprime mortgages.

3) Then made a lot more money by selling mortgage-backed securities short, just before their value crashed. All of this was perfectly legal, but the net effect was that Goldman made profits by playing the rest of us for suckers.

4) The bank should have collapsed based on their reckless practices. However... you and I... if you are a US citizen bailed them out. They were too big to fail or...it's who you know... right Hank?
  • #148,088
  • Sep 30, 2009 10:44am Sep 30, 2009 10:44am
Quoting acumen
1) Smart guys at Goldman. They new what they were doing was shit. Goldman didn’t believe its own hype. Other banks invested heavily in the same toxic waste they were selling to the public at large.

2) Goldman made a lot of money selling securities backed by subprime mortgages.

3) Then made a lot more money by selling mortgage-backed securities short, just before their value crashed. All of this was perfectly legal, but the net effect was that Goldman made profits by playing the rest of us for suckers.

4) The bank should have collapsed based...
oh i @@

thanks for the layman explanation ... thank you buddy !
  • #148,089
  • Sep 30, 2009 10:46am Sep 30, 2009 10:46am
Quoting Tiger21
The dollar’s share of foreign currency reserves fell to its lowest level since the introduction of the euro in 1999. It share is now 62.8% while the euro gained to 27.5%. The dollar obviously is still .......
Tiger, I assume this must be cut and paste. My following statement is not directed at you but the media providing this information.

What I annoyingly not appreciate is the media (or spokes persons of entities releasing information) overlooking basic principles (or whatever it is) of journalism. Now who is going to tell us what was dollar's share before it fell to 62.8% and how much Euro gained?
The Thief of Wall Street
  • #148,090
  • Sep 30, 2009 10:52am Sep 30, 2009 10:52am
Euro is still stronger on the day despite a weaker than expected ADP number – private sector job loss was 254k vs. the 240k survey estimate. Possible rationale is the Q2 GDP was revised upwards to a loss of 0.7% vs. the previously stated 1%.
  • #148,091
  • Sep 30, 2009 10:57am Sep 30, 2009 10:57am
Quoting Tiger21
Euro is still stronger on the day despite a weaker than expected ADP number – private sector job loss was 254k vs. the 240k survey estimate. Possible rationale is the Q2 GDP was revised upwards to a loss of 0.7% vs. the previously stated 1%.
or...

it's being held up by smoke, mirrors and horseshit.

m
  • #148,092
  • Sep 30, 2009 11:03am Sep 30, 2009 11:03am
yay it is going up, US markets erasing the pmi drop by end of session
1.47 here we come
----- Dragonfly out in the sun you know what I mean, don't you know
  • #148,093
  • Sep 30, 2009 11:13am Sep 30, 2009 11:13am
Short term important levels ...

1.4670 and 1.4690 on the upside are important resistances worth to pay attention. On the downside look after 1.4590 and 1.4530-40 supports.

That is what my chart tells me.
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Discipline + Patience - Fear - Greed = Success
  • #148,094
  • Sep 30, 2009 11:14am Sep 30, 2009 11:14am
Quoting sophiaphia
yay it is going up, US markets erasing the pmi drop by end of session
1.47 here we come
keep buying... my Porsche needs new tires.

m
  • #148,095
  • Sep 30, 2009 11:24am Sep 30, 2009 11:24am
Senseless price action fellas. Stay out if you can. Month end moves are usually like that.
  • #148,096
  • Edited 11:45am Sep 30, 2009 11:26am | Edited 11:45am
makes total sense to me, commodities and techs.
edit
(after oil rpt, USD)
----- Dragonfly out in the sun you know what I mean, don't you know
  • #148,097
  • Sep 30, 2009 11:32am Sep 30, 2009 11:32am
lol
  • #148,098
  • Sep 30, 2009 11:33am Sep 30, 2009 11:33am
Ok, good luck Sophia
  • #148,099
  • Sep 30, 2009 11:36am Sep 30, 2009 11:36am
We tested monthly R2 and failed. If we don't close above that high probability we stumble down to 1.450
  • #148,100
  • Sep 30, 2009 11:43am Sep 30, 2009 11:43am
crude is going hay wire......north
so dont expect eu south soon
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