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  • #276,101
  • Jul 29, 2010 3:47am Jul 29, 2010 3:47am
Quoting Mr Bull
Wow... what is this: a rating agency THINKING about downgrading USA. A new atittude

Moody’s analyst: If US budget debt projections realized, would need to review rating

Source:
www.forexlive.com
well, all other big economies have been or been talked about downgrading regarding debt,, so why not US???
  • #276,102
  • Jul 29, 2010 3:50am Jul 29, 2010 3:50am
Yes, that's my thoughts and I joined you with a short entry at 1.3073.
I am not sure what the average true range of EUR/USD is, but we are already at a 100 pips.

The Low was 1.2977 & the high 1.3077

Personally jumping in at the high on a long at 1.3077 is not a wise thing for me to do, if I was to go long, it would be on a pull back of some sort. However, my mindset is the pair has had a nice run up, and now its time to take some pips on the way down, even if its just a 30 or 40 pip retrace to the downside. Which is fine for me. I do like your entry indeed.

Quoting Atlast
you think. I don't see capitulation yet, so it's still with the upmove, though scalping mode.
  • #276,103
  • Jul 29, 2010 3:51am Jul 29, 2010 3:51am
Becasue they have the monopoly on dollar seigniorage (printing money in easy words).

sisse

Quoting skerdi-meta
well, all other big economies have been or been talked about downgrading regarding debt,, so why not US???
Pending conversations? PM for a chat...I am mainly in OTM now
  • #276,104
  • Edited 4:20am Jul 29, 2010 3:53am | Edited 4:20am
Quoting ubaidahsan
bro good morning 3120-50 is confirmed for today now?i am in long already


Ub
Good morning , yes apparently it should confirm bull & I will take long again too.
wish best trading to you .

Next H1 candle , may range but top around 3099-3114 before pullback again .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #276,105
  • Jul 29, 2010 3:53am Jul 29, 2010 3:53am
Quoting skerdi-meta
well, all other big economies have been or been talked about downgrading regarding debt,, so why not US???
Exactly. My Wow was sarcastic because last week I was here comparing the rating agencies atittude against US and Europe and expressing the same question.
  • #276,106
  • Jul 29, 2010 3:53am Jul 29, 2010 3:53am
some more red bars and then up again... bought at 32 and sold quickly missed the up and now waiting..
  • #276,107
  • Jul 29, 2010 3:55am Jul 29, 2010 3:55am
Quoting ubaidahsan
Correct bears are waiting for 3120-40 level for quick move down

good luck

Ub
Holy crap, you sure sound confident about this. How do you know that? How can you possibly know PA is going to look like @these levels?
  • #276,108
  • Jul 29, 2010 3:56am Jul 29, 2010 3:56am
Quoting T.E.Lawrence
Holy crap, you sure sound confident about this. How do you know that? How can you possibly know PA is going to look like @these levels?
LoL. Didn't you know he is a son of ORACLE PAUL
  • #276,109
  • Jul 29, 2010 3:59am Jul 29, 2010 3:59am
Just goin over some of the upcoming fundamentals and the US News is probably gonna be shite again...dude if they keep up this rate they may go into depression :S...I hope at least the job numbers are looking better, but since this new law being passed down today they are saying is going to be enacted to keep out illegal immigrants, ppl are like fleeing...hence leaving their jobs or being fired or removed...not sure if those illegal ppl go down in the US numbers job numbers or not...I'm thinking that the numbers are gonna be pretty bad, but lets see what happens...

http://www.cnn.com/2010/US/07/29/ari...ex.html?hpt=T1

To add to it, with all the job cuts, more ppl can't pay for their homes and hence more foreclosures... (http://money.cnn.com/2010/07/29/real...n_bin&hpt=Sbin)

The US aint lookin too good...

I'm up in Canada, so I know that we're doing much better than the US is...its kinda scary too cause like over here house prices are doing good, but over there the same house is like 1/4 or even LESS!

Neways, Fundamentals wise, this big USD News hit for job numbers I dont think will look good at all which means that chances are that when the New York session starts, we're gonna see a big bull run up to the high point, so if there is any drop for the bears, short term, between now and then would be a good time to take what ya can as a bear...

Once again just my own two cents on it LOL What do you all think?
  • #276,110
  • Jul 29, 2010 4:00am Jul 29, 2010 4:00am
Inserted Video

might want to pack a lunch. this could be the center of the universe for a while. 3055ish.
hopefully not.. buttt.. im on the same page as coke.
those who can, do. those who cant, talk about those who can
  • #276,111
  • Jul 29, 2010 4:01am Jul 29, 2010 4:01am
Quoting learntowin
Thank you very much Sir,

May i ask : why not goes witt the Trend ?

Many (including me) are going with the Bull

Just find some where to Booked Profit

then wait and reenter @ dips

then find some where to Booked Profit

then wait and reenter @ dips ...

then find some where to Booked Profit ...


Better No Short in the Up Trend ?

TKS
like this right
Attached Image (click to enlarge)
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  • #276,112
  • Jul 29, 2010 4:02am Jul 29, 2010 4:02am
By Harumi Ichikura
June 29 (Bloomberg) -- Following is a summary of Portugal’s June
consumer and business confidence indexes from the National Statistical
Institute, in Lisbon:
*T
=============================================================================
June May April March Feb. Jan.
2010 2010 2010 2010 2010 2010
=============================================================================
------------------ Index -------------------
Consumer confidence* -40.1 -38.3 -36.7 -35.4 -34.4 -32.3
Business confidence index ------------------ Index -------------------
Economic Climate Indicator 0.1 0.0 -0.2 -0.5 -0.6 -0.6
=============================================================================
*T
* = Consumer confidence index value shows as 3 month average.

SOURCE: National Statistical Institute INE

--Editor: Mark Evans

By Keith Jenkins and Yoshiaki Nohara
July 29 (Bloomberg) -- The euro rose against the dollar as
concern that the U.S. recovery may be slowing spurred demand for
the 16-nation single currency.
The euro also rose against the yen and was near its
strongest level against the greenback in more than two months
before a report tomorrow that economists said will show U.S.
gross domestic product grew at a slower pace. The single
currency has been pushed higher this week after stress tests
results released July 23 found only seven European banks needed
to raise capital. New Zealand’s dollar fell for a third day
after the central bank said deteriorating growth will slow the
pace of future interest-rate increases.
“The U.S. economy appears to be losing momentum, and
that’s supporting the euro,” said Lee Hardman, a currency
strategist at Bank of Tokyo-Mitsubishi UFJ Ltd. in London.
“Conditions following the stress tests have become more
supportive for risk assets. That’s detrimental for safe-haven
currencies.”
The euro climbed 0.3 percent to $1.3029 as of 8:35 a.m. inLondon. It reached $1.3046, matching the highest level since May
10. The single currency gained 0.1 percent to 113.78 yen,
erasing an earlier decline. The yen strengthened 0.1 percent to
87.34 against the dollar.
U.S. economic growth slowed to an annual 2.5 percent pace
last quarter, from 2.7 percent the previous three months,
according to a Bloomberg survey before tomorrow’s Commerce
Department report.

‘Further Evidence’

“Further evidence of a cooling in U.S. growth momentum is
weighing on market sentiment,” said Mike Jones, a currency
strategist at Bank of New Zealand Ltd. in Wellington.
The euro has strengthened 2.8 percent this month against
its developed-world counterparts, according to Bloomberg
Correlation-Weighted Currency Indices. It has dropped 7.6
percent this year. The dollar has gained 2.6 percent this year,
and the yen has advanced 10 percent, the biggest gainer in the
group, the indices show.
The yen typically strengthens in times of financial turmoilas Japan’s trade surplus makes the currency attractive as it
means the nation does not have to rely on overseas lenders.
New Zealand’s dollar fell against all the major currencies
after central bank Governor Alan Bollard raised borrowing costs
for a second month and said the “pace and extent” of future
increases would be more moderate than earlier projected.

‘More Dovish’

“The statement is more dovish than in June and the market
largely expected it to be unchanged,” said Imre Speizer, a
market strategist in Wellington at Westpac Banking Corp.,
Australia’s second-largest lender. “The kiwi dollar is being
sold on that. We’re likely to see further hikes in the next few
meetings before consideration of a pause.”
The currency’s recent gains are “inconsistent with the
softening in New Zealand’s economic outlook and moderation in
our export commodity prices,” Bollard said today in Wellington
after increasing rates.
New Zealand posted a trade surplus of NZ$276 million ($200
million) for June, Statistics New Zealand said today, less thanthe NZ$368 million forecast in a Bloomberg survey.
The benchmark rate of 3 percent in New Zealand compares to
4.5 percent for Australia and levels of 0.1 percent in Japan and
as low as zero in the U.S., attracting investors to the South
Pacific nations’ higher-yielding assets.
New Zealand’s dollar fell 0.3 percent to 72.50 U.S. cents,
and declined 0.4 percent to 63.32 yen.

Won Falls

South Korea’s won dropped for a second day on concern
exports will falter and the central bank may intervene to
prevent gains in the currency. The Bank of Korea said its index
measuring manufacturer’s expectations for next month fell to 102
for August, from 104 for July.
“Concern the recovery is slowing is bringing risk aversion
back,” said Seo Jeong Hun, chief economist at Korea Exchange
Bank in Seoul. “The possibility of intervention also exists,
but exporters may try to repatriate income so won declines
should be limited.”
The won slipped 0.2 percent to 1,186.50 per dollar. It roseto a five-week high of 1,181.33 on July 27 before retreating
yesterday as traders said the central bank bought dollars to
counter the won’s appreciation.

For Related News and Information:
Top Stories:TOP<GO>
Stories on Currencies: NI FRX <GO>
Foreign-Exchange Information Portal: FXIP <GO>
Stories on Central Banks: NI CEN <GO>
For research on currencies: NI ANAFX BN <GO>
Foreign-exchange forecasts: FXFC <GO>

--With assistance from Candice Zachariahs in Sydney and Frances
Yoon in Seoul. Editors: Keith Campbell, Daniel Tilles.

Source from Bloomberg
  • #276,113
  • Jul 29, 2010 4:05am Jul 29, 2010 4:05am
Quoting &quot;expert&quot;
Buy on this 1 hr candle for me.price now 2990.target for begining 100 pips.
will see
4hr chart for me looks like this.2 longs on white line.1st was few days ago and second on opening of this 4 hr candle.First targets writen below.
Attached Image (click to enlarge)
Click to Enlarge Name: e4.gif Size: 31 KB
  • #276,114
  • Jul 29, 2010 4:12am Jul 29, 2010 4:12am
Quoting TheLastCoke
Bears might be waiting #2224 (with no hurry)
Don't expect it until very big change. 1.2950 is now bull shield
You cannot learn better without losing
  • #276,115
  • Jul 29, 2010 4:12am Jul 29, 2010 4:12am
Quoting gatorinla
http://www.youtube.com/watch?v=cIcqUokPiTw
might want to pack a lunch. this could be the center of the universe for a while. 3055ish.
hopefully not.. buttt.. im on the same page as coke.
alright, back at lunchtime.
  • #276,116
  • Jul 29, 2010 4:18am Jul 29, 2010 4:18am
looking for a place to place long. 50 would be perfect. will we get that down before up again?

hapipipin

Quoting fontu
Good morning , yes apparently it should confirm bull & I will take long again too.
wish best trading to you .

Next H1 candle , may range around 3099-3114 before pullback again .
fontu
dreams do come true.
  • #276,117
  • Jul 29, 2010 4:19am Jul 29, 2010 4:19am
Quoting &quot;expert&quot;
4hr chart for me looks like this.2 longs on white line.1st was few days ago and second on opening of this 4 hr candle.First targets writen below.
can u please share that indi/EA on the top left corner of ut chart,i like the way it shows trend direction.
  • #276,118
  • Jul 29, 2010 4:20am Jul 29, 2010 4:20am
maybe i should know it already but truth is i didn't.

green pips

Quoting TheLastCoke
Bears might be waiting #2224 (with no hurry)
dreams do come true.
  • #276,119
  • Jul 29, 2010 4:26am Jul 29, 2010 4:26am
Hi,

i following a few day here on this thread and i love it, brings up some ideas how to trade. Iam quite new to forex, trading on micro account.

I went short on 3072 for retracement of the possible complete 5 wave structure from around 2968 to 3076, first target 0,382 fib retracement on 1,3035, SL 3079 . 0,382 also almost same like R1. Just hopeing my Wave count is right. So far around 4 pips + .
  • #276,120
  • Edited 5:01am Jul 29, 2010 4:33am | Edited 5:01am
Quoting wannaberich
looking for a place to place long. 50 would be perfect. will we get that down before up again?

hapipipin
Though already took long at 3061 . yes , why not , this is H1 9th candle of the bull rally , previous 8th is a big one & likely ( to range & at same time close above 8th ) simply 50% retrace 8th go below 50.

A buy set up perfection will take place H1 tf & likely some pullback after that while H4 tf bull rally only 3rd running while big only 2nd & in daily tf 4th running and their last candles are bigger w. with 50% retrace to all of them may more down without any trouble to bull nature .
anyway just theory . expecting up only as not scalping now so sl placed below 3020 as can back at pullback next to 3030 or more & pending long there again .

fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
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