trading801's Koala Forex Articles and EUR/USD views

Go Trading801 Go!

Hope to see this back in interactive trading soon.

Oct. 22 (Bloomberg) -- The dollar rose after China’s economic growth trailed some economists’ estimates and speculation mounted it will pare stimulus spending, spurring demand for the greenback as a refuge.

The dollar gained against 15 of its 16 most-traded counterparts after China announced third quarter production figures and said inflationary expectations are increasing. The Australian and New Zealand dollars retreated from the strongest in more than 14 months as Asian stocks declined, curbing demand for higher-yielding assets.

Oct. 22 (Bloomberg) -- European and Asian stocks fell as Ericsson AB’s profit missed analysts’ estimates and investors speculated that China may curb stimulus spending after the nation’s economy expanded at the fastest pace in a year.

ty forexlive

French October business morale better than expected
Written by Gerry Davies
October 22, 2009 at 06:53 GMT

French October business morale has come in at 89 from an upwardly revised 86 in September, better than the median forecast of 87. It’s the highest read since October 2008.

Hasn’t done anything to lift EUR/USD however, the pairing presently down at 1.4970.

I don't know how they do to estimate the morale but when I speak with some french the morale is down (I live near to France) and when you walk around in big cities (Paris, Lyon) you can see a lot of shop for rent or for sell ... Anyway thanks for posting

lol i guess sampling can never be 100%

Visit my blog for forex articles and EUR/USD views @

www.thegeekknows.com

thank forexlive

ECB’s Weber: Double-dip recession very unlikely in euro-zone
Written by Gerry Davies
October 22, 2009 at 06:42 GMT

ECB’s Weber:

Double dip recession very unlikely in euro zone, outlook fairly benign
Not yet time to exit stimulus measures, but must develop credible exit framework now
Fairly sure euro zone monetary policy will manage orderly exit from current policies
Risks to price stability not present at policy-relevant horizon
Deflationary fears have all but disappeared in recent months
Forecast risks still high, no reason to be overly optimistic as recovery fragile
Financial market situation still fragile, temporary backlashes are likely
Global imbalances must be reduced to achieve sustainable long-term growth

ty forexlive


EUR/USD down but not out…….
Written by Gerry Davies
October 22, 2009 at 09:35 GMT

EUR/USD is steadying after earlier selling pressure saw a session low 1.4944 posted, aforementioned buy orders at 1.4940/60 just about enough to soak up the sales. We’re presently back at 1.4955.

Talk has it that Asian sovereign buy interest was included in the 1.4940/60 region.

Stops remain just below 1.4940.

Oct. 22 (Bloomberg) -- Stocks fell from Tokyo to Paris and the dollar rose as the fastest economic growth in a year in China stoked speculation that government stimulus measures will be removed, while European earnings disappointed investors.

Oct. 22 (Bloomberg) -- U.S. stock-index futures retreated as a forecast from EBay Inc. missed estimates and investors speculated that China may consider withdrawing stimulus measures after economic growth accelerated, overshadowing better-than- projected earnings at Dow Chemical Co.

no doubt it is very quiet here my friends

Retail traders are highly stacked on shorts of the EUR/USD.

This is a contrarian indicator and suggest more upside gains

Maybe it's because the bulls are going crazy ... People are looking at the windows ... Don't panic ... Hang on to your tree !!

i am so sad. sob sob i belong in the wild not the zoo

Hey man !! You have make a very nice job and I'm sure many guys have learned a lot with you. So don't be sad and be proud of it.
Now wait and see what happened ... With Jay and Cobra with you it could help ... Hope you're making pips because at the end we are here for that, right?

You are not alone my friend

I reach $300 profit again, now holding 3 longs, I saw ppl are nuts, this EU Market is so crazy, I'm Loled a lot, but well the 3 longs are .05 lot each, I can hold it for longer term, so I will see if we touch any bottom, and then open another long. No shorts open so far. and tomorrow Crazy Friday :S

Thanks to FX360

After declining for two consecutive weeks US jobless claims rose an unexpected 11,000 to 531K from 515k projected. The less volatile four week average of initial claims continued to decline albeit at a glacial pace as it moved from 533K to 532.5K.

The jobless numbers have become a key data point of concern for the currency market as they represent the main impediment to any Fed action on the monetary front. The Fed has never raised rates until the unemployment rate has peaked and given the fact that this week is the sample for the monthly Non Farm payrolls report due November 6 th it suggests that US may lose another -150K jobs in October.

The data was a mild blow to the recovery trade as euro sold off modestly on the news, dropping below the 1.5000 level after rallying back to that point in early morning New York session. However, overall the market showed little reaction to the numbers given the week to week volatility of the data.

Nevertheless, the currency traders are unlikely to change their anti-dollar bias until the weekly jobless numbers drop below the key 500K level suggesting that the contraction in the US labor market is over. Only then will the Fed be able to adopt a more assertive monetary posture providing a modicum of support for the greenback.

you should note that my last check on the brokers open books,

A WHOLE TON of folks is in shorts.

yes this lot of folks where 95% are wrong.

this may indicate more upside gains..

just make sure you have proper MM and hug tree tight..

i am still holding long from days ago... i think crazy Jay has longs from months ago!

ty ty pls visit me in this cage often ok?