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  • #159,281
  • Nov 5, 2009 1:34pm Nov 5, 2009 1:34pm
Jgrb yep that's why I don't recomend signal service. Also I know its a demo account but 5K on a standard account!
  • #159,282
  • Nov 5, 2009 1:40pm Nov 5, 2009 1:40pm
One thing also I would like to point on reserve currency status of $. I hear on radio and tv about worry about dollar loosing its reserve status its all bogus. Which other currency would become reserve? you think EU? There is just not enough EURO's to replace dollar and ECB does not print money like US does. Next best thing would be the YUAN(Chinese currency) but I serriously think its not going to happen in my life time. Gold they all are talking about $2000 gold again I don't trust this cause last year they all said we are going to $200 oil never happend and we crashed to $30. If they knew all this info why would they share all this info with common ppl. Its all hyping so that dumbb idiots buy into and all that time they are selling into the strenght.
  • #159,283
  • Nov 5, 2009 1:52pm Nov 5, 2009 1:52pm
They are gunning for 10000 in the equity market. Either they are pricing in tomorrow's NFP number or just have YANKEE fever
  • #159,284
  • Nov 5, 2009 2:02pm Nov 5, 2009 2:02pm
Quoting Mike_Douglas
Ok, but you still believe that tomorrows NFP will push the EUR/USD down?

Because the USA that wants the dollar down, is the same one that releases the reports, I'm not seeing a report that will push the Eur down, I see it going UP


It may go down some pips today, or tomorrow in the evening, but after that, I only see it going wayyyy UP
I have to agree with you.
I think it would have to take something pretty major to stop this train.
  • #159,285
  • Nov 5, 2009 2:02pm Nov 5, 2009 2:02pm
Quoting vinesh2
We may see unemployment rate of close to 10% tomorrow and this may trigger the moves ......
10% will make the mare go.....but which way?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #159,286
  • Nov 5, 2009 2:03pm Nov 5, 2009 2:03pm
Fool if I knew which way it will go I will certainly wont share it here. I would keep it to myself and become a millionaire.
  • #159,287
  • Nov 5, 2009 2:04pm Nov 5, 2009 2:04pm
Quoting The Fool
10% will make the mare go.....but which way?
The spin doctors will decide that!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #159,288
  • Nov 5, 2009 2:11pm Nov 5, 2009 2:11pm
I would just like for it to breakout of this tight range it has been in for the last few hours.
  • #159,289
  • Nov 5, 2009 2:14pm Nov 5, 2009 2:14pm
Quoting Leche Mocha
I would just like for it to breakout of this tight range it has been in for the last few hours.
If it doesn't there's a chance of a doji on the daily.....not sure what relevence it will have in light of NFP etc though
Doing what you like is Freedom. Liking what you do is Happiness.
  • #159,290
  • Nov 5, 2009 2:17pm Nov 5, 2009 2:17pm
Quoting vinesh2
Fool if I knew which way it will go I will certainly wont share it here. I would keep it to myself and become a millionaire.
hehe - that's the spirit V. - I mention it though because the E/U - S&P correlation appears to be getting weaker. But I think 10% unemployment will be a big deal even though everyone has been waiting for it to print for months.

Learned my lesson about trading the news, though - I just catch the volatile aftermath now....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #159,291
  • Nov 5, 2009 2:17pm Nov 5, 2009 2:17pm
There could be an upcoming dollar rally for reasons you might not be aware of.
Today, Sen. Chris Dodd stated that he will move forward on legislation to overhaul regulation of U.S. financial markets putting the subject of toxic banks back in the media.

There have been some hints and suggestions of the Fed raising reserve requirements for banks. The Senate bill could add to the pressure on the Fed and push them even further in that direction.

If you understand how fractional reserve banking adds to the money supply, then you know that a small increase in required reserves can take a lot of currency out of circulation.

Taking currency out of circulation reduces supply, which, without a change in demand, causes the value of the dollar to rise. This would enable the Fed to keep interest rates low much longer without fear of inflation.

However, this could really hurt the stock market. Taking currency out of circulation means that loans would become much harder to obtain. The lending market would really go downhill. Companies and consumers might find it really hard to obtain credit.
  • #159,292
  • Nov 5, 2009 2:21pm Nov 5, 2009 2:21pm
Yep you got it right about 10% and them knowing about it for a while. Its already been priced in. So most likely move would be either subdued or volatile for a couple of hours and then technicals should take over. Stocks are on a tear today without much fundementals to support tells me that they are pricing in tomorrow's numbers.
  • #159,293
  • Nov 5, 2009 2:34pm Nov 5, 2009 2:34pm
is it too simple to think that EUD did not jump above yesterdays high even though the DJIA jumped so high.. doesn’t that mean its hitting some big resistance there?
  • #159,294
  • Nov 5, 2009 2:35pm Nov 5, 2009 2:35pm
Quoting sophiaphia
This was like molasses all night (US) subtracting from my sleep! I should have waited for weekly pivot of 1.4825 area!

And finally over 1.49 now

US futures squeeze potential up today, many bears. Waiting and see how this pair reacts between 4860 and over 49. My original target on the 1.47 long a couple days ago was always 1.5 (but exited that trade at 1.49).

Happy pippin'.
I posted that near US open and we have big squeeze 200points DOW. Happy with that but...
This pair is so frustrating today.
Please to 1.495.
I just want to sell!!!!!!!!! gah!
----- Dragonfly out in the sun you know what I mean, don't you know
  • #159,295
  • Nov 5, 2009 2:40pm Nov 5, 2009 2:40pm
Quoting vinesh2
One thing also I would like to point on reserve currency status of $. I hear on radio and tv about worry about dollar loosing its reserve status its all bogus. Which other currency would become reserve? you think EU? There is just not enough EURO's to replace dollar and ECB does not print money like US does. Next best thing would be the YUAN(Chinese currency) but I serriously think its not going to happen in my life time. Gold they all are talking about $2000 gold again I don't trust this cause last year they all said we are going to $200 oil never...
Actually, the new reserve currency wont be any existing currency, in fact according to a statement by the UN, the idea is to create a "new artificial currency", meaning a new digital currency.

When this happens, the fiat USD will loose a large portion of what gives it any value at all.
  • #159,296
  • Nov 5, 2009 2:41pm Nov 5, 2009 2:41pm
Sophia I think we have tentatavely seen the top on EU.
  • #159,297
  • Edited 3:22pm Nov 5, 2009 2:54pm | Edited 3:22pm
Quoting vinesh2
Sophia I think we have tentatavely seen the top on EU.
Something is different, either big trend change on it's way or oh_crap? The correlations are snapping left and right. I see higher US markets and more Dollar going south...so for this pair means...
I just want to sell somewhere over 1.49/1.5 : | grrrr


edit after some thinking: another mult-day test of 1.5 after couple weeks makes sense, usually don't turn on the dime. I think the bigger trend up is taking over and we play there for a while then another sell leg down in a few weeks.
----- Dragonfly out in the sun you know what I mean, don't you know
  • #159,298
  • Nov 5, 2009 2:59pm Nov 5, 2009 2:59pm
JgrB
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  • #159,299
  • Nov 5, 2009 3:09pm Nov 5, 2009 3:09pm
my area again did good job. next price action case study - see my blog.
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  • #159,300
  • Nov 5, 2009 3:12pm Nov 5, 2009 3:12pm
Quoting vinesh2
Sophia I think we have tentatavely seen the top on EU.
Hi, I'm new to this forum and with very little forex experience... It's quite cool sharing thoughts and insights... but they without any explanation just add to the confusion and speculation that already exists.

I've been using a number of indicators and i've extensively tried to program an EA on MT that uses pretty much most of the most common indicators... testing on historical data i can conclude that they in any number of combinations will never give consistent results.

I've discovered that the best way to understand the market is to understand the fundamentals and the way in which they affect the currencies and to use price action which is a more direct form of technical analysis.

Based on this, and i would agree that its fairly simplistic... but, given the differentials in the current interest rates and the failure of the dollar to strengthen, the Euro seems to be the preferred currency to buy... in addition the uptrend on the daily chart that started in march has built up quite a bit of momentum. In addition, one thing that i'm quickly beginning to realise is that the term "too high" or even "too low" simply does not apply.
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