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  • #303,681
  • Oct 10, 2010 3:21pm Oct 10, 2010 3:21pm
All gossip aside, my view is a bit shorter term. A chart I built back in Feb still returning to predictive levels. I am waiting for FXCM to wake up so my chart will update. Price has gapped up to the 14.6 extension area in the mean time - I expect a minor retrace, but nothing has changed over the weekend so I believe we will see the price continue to rise to the 4052/55 area.
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Click to Enlarge Name: eu1010.gif Size: 30 KB
  • #303,682
  • Oct 10, 2010 3:24pm Oct 10, 2010 3:24pm
Oanda showing EU @ 1.3987, so roughly a 50 pip gap.
  • #303,683
  • Oct 10, 2010 3:25pm Oct 10, 2010 3:25pm
Oct. 10 (Bloomberg) -- The International Monetary Fund may transform its loan to Greece into a longer-term repayment plan, a move that would allow the country to pay its loan back later without restructuring, European Central Bank Executive Board member Lorenzo Bini Smaghi said...
________________________________ Errare humanum est
  • #303,684
  • Oct 10, 2010 3:25pm Oct 10, 2010 3:25pm
Quoting chonchy
my own and only mine, personal view, (patent number #4567389)

I think the yurow is on his way to touch this monster trend line (cesarnc monters trend lines, patent #564748) in the long run but......
at the open we may see WETF (what ever the.......) the market makers have in mind, so just follow price action (what is price action)

Attachment
Hi chronchy,

thank you for providing your patent here :-)


But keep in mind: Touching this trendline would imply, that EURUSD are in a broad corrective pattern.

If it is not the case, EURUSD will "accelerate" to the downside (due to wave 3 action), so stay alerted.

Best to you, Markus
  • #303,685
  • Oct 10, 2010 3:27pm Oct 10, 2010 3:27pm
Quoting bluesoul
Gatorinla, its the start of china's strength, their growth is very strong, i don't know all the factors but its my personal experience that there might be hardly a single product, which china is not manufacturing at their own, highest steel reserves and then gold, just name the brand any big brand and...
it has only changed because the u.s. has allowed it. the u.s. has let in the Trojan horse. you dont remain strong be giving your competitors a unfair advantage. you close the advantage if its artificial. pegged currency is artificial. if it wasn't for this the u.s would not have a need for QE.. the u.s. spring boarded china decades ahead of where it should be.. it created pressure on commodities further driving up u.s. deficit. By raping the usd. the u.s. has weakened its citizens of its standard of living. while raising china's
those who can, do. those who cant, talk about those who can
  • #303,686
  • Oct 10, 2010 3:32pm Oct 10, 2010 3:32pm
Some time ago it was reported that China diversified and the US market is a very small percentage of where Chinese exports end up. They have systems in place for the world now. Cutting the country off, especially now with no spending would not hurt the nation much. But China also cannot do so due to the population and economy growth it needs to sustain, so no matter how small the US becomes, it cannot afford that shrinkage for it's domestic employment.

Now I do not know how it works in other countries, but no one on the street knows about weak US dollars. They'll see it as the country falling apart and time to vote for the other guy. But they don't see it as an economic thing that this is what a nation desires for exports afaik.
  • #303,687
  • Oct 10, 2010 3:40pm Oct 10, 2010 3:40pm
Quoting Mr Hatch
good evening.
Good evening Mr. Hatch,

hope weekend was nice with Mr. Elliott :-)


Many pips to you,

Markus
  • #303,688
  • Oct 10, 2010 3:42pm Oct 10, 2010 3:42pm
Quoting mercy seat
Markets are open ... and it opened with a small GAP of aprox. 15 points at the upside with first INTERBANK rates from Wellington based Banks, Finance Services and Trading Desks ...


Euro popped up quickly aprox. 50 points higher (now close to 1.40) as you can see in TABLE below:

http://cdn.forexfactory.com/images/attach/pdf.gif

2010-10-10_20h50_Interbank Foreign Exchange Rates (Ouverture 41).pdf (10.3...

http://cdn.forexfactory.com/images/attach/pdf.gif

2010-10-10_21h30_MT_IMF-G7 Meetings Provided Little For FX Mkts - BNZ.pdf (9.2 KB)
Attached File(s)
File Type: pdf 2010-10-10_21h30_MT_IMF-G7 Meetings Provided Little For FX Mkts - BNZ.pdf   9 KB | 358 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #303,689
  • Oct 10, 2010 3:43pm Oct 10, 2010 3:43pm
"Markets are not pricing the economic outlook as much as pricing the reaction of policymakers. The market right now is front-running the QE2. The question is how sustainable is that."

IMF, World Bank meeting


That comment is very bearish for short/long term market projections. Large traders probably noticed it or already know this are trying to get in as many longs as possible.
  • #303,690
  • Oct 10, 2010 3:44pm Oct 10, 2010 3:44pm
Quoting techno79
Some time ago it was reported that China diversified and the US market is a very small percentage of where Chinese exports end up....
turn down the radio.. the u.s. is a consumer nation that has and can build all it needs. each purchase at wallmart buying a china (or any other pegged currency) product weakens the u.s. It makes the cost of oil ect. go up.. it increases unemployment. so the 2$ you save on a inferior product is a wallmart myth. Controlled by the media.. hell china's companys are allowed to purchase political adds for u.s. national offices. in other words they can purchase adds for senator/congress or president. And as they do, sheep that hear something enough times believe it. the bad part is, who bought the adds can be hidden legally..
those who can, do. those who cant, talk about those who can
  • #303,691
  • Oct 10, 2010 3:50pm Oct 10, 2010 3:50pm
Quoting sidhujag
"Markets are not pricing the economic outlook as much as pricing the reaction of policymakers. The market right now is front-running the QE2. The question is how sustainable is that."

IMF, World Bank meeting


That comment is very bearish for short/long term market projections. Large traders probably noticed it or already know this are trying to get in as many longs as possible.
Hey,
thank you for providing that

Markus
  • #303,692
  • Oct 10, 2010 3:52pm Oct 10, 2010 3:52pm
Gator,

So part of the election bill will be paid by the companies in China that will get the most out of their policies? Interesting... but don't see why not.. money talks the rest walks.
  • #303,693
  • Oct 10, 2010 3:54pm Oct 10, 2010 3:54pm
Quoting DMA Trader
I think in a recession, a crisis, low cost products beats over quality.
Look at China's surplus growing like crazy.
yeah, but there will be a time after recession - and til now I think that the german cars get sold very good...

as an example, that a strong currency is better than a weak currency on a long term view, you could compare the strong german Mark with the weak greek Drachme or the italian Lira. At a long term view the german economy is much stronger than the italian or greek one, coz the 2 last ones where abituated at a weak currency and weren't as competitve and innovative as the german was.
Pecunia non olet
  • #303,694
  • Oct 10, 2010 3:55pm Oct 10, 2010 3:55pm
From what I understand there may be a solid gap up. If price reaches 4020/40+ tonight I expect a deep retrace as bears has shown their strenght above 1.40 already. Below 1.40 eu will live dangerously in the coming days as there are several confluencial lines that if breached could give way for further downmove st. With 97% bulls, most likely lt.

The A-B-C correction (Wave 2) is likely over, or very near. The trouble is, eu is anyway overdue for a solid correction. This correction may come inappropiate as it could give way for a lt trend change. Exciting days ahead.
  • #303,695
  • Oct 10, 2010 4:00pm Oct 10, 2010 4:00pm
Quoting gatorinla
turn down the radio.. the u.s. is a consumer nation that has and can build all it needs. each purchase at wallmart buying a china (or any other pegged currency) product weakens the u.s. It makes the cost of oil ect. go up.. it increases unemployment....
I hear people complaining about how they haven't been to wal-mart for years because all the stuff is chinese and that supports communism(and these ppl have Obama bumper stickers). I go to wal-mart. I cannot find any Chinese products easily anymore. Actually, it's the only store I go to where I find American products in my low budget experience!
All the clothes come from middle eastern countries when I check.
Target otoh.

Walmart is a nice talking point for angry people. But the Chinese aren't stupid, they saw the world as a consumer and the US wasn't a good idea to be their only consumer and diversified globally.

Also, I live in a swing state, and I have been waiting for years for these ads. I see good political ads on the internet, that never get funded enough to run on TV. This is ashame. And why we are where we are.
  • #303,696
  • Oct 10, 2010 4:02pm Oct 10, 2010 4:02pm
wow, 50 pips gap hehe
  • #303,697
  • Oct 10, 2010 4:03pm Oct 10, 2010 4:03pm
Quoting sidhujag
Gator,

So part of the election bill will be paid by the companies in China that will get the most out of their policies? Interesting... but don't see why not.. money talks the rest walks.
until the u.s. public gets tired of the bs. but until we got brainwashed sheep speaking crap that only hurts the u.s. when you hear this from a politician he is their pocket. think about it.. why does the worlds biggest consumer (u.s.) not make more money selling to the worlds biggest consumer (u.s.). its a freaken myth... the u.s. does not need to subsidies china to sell a few exports. Its all media based bs paid for by wallmart (china) .. the trade deficit would be lower because no matter what we export some products because they are better. and the world has to eat..
those who can, do. those who cant, talk about those who can
  • #303,698
  • Oct 10, 2010 4:03pm Oct 10, 2010 4:03pm
what is this


Quoting chonchy
oh so you think bemac know's bether than me where the price is going?

bigmac won't know where the price is going, that is why he have to ask me where I get my vouches from and tell me to post charts on a rumors and gossip tread, but eather you are trying to stir some here or you don't know my history with bigmac...........if you don't then you don't, but if you do
  • #303,699
  • Oct 10, 2010 4:07pm Oct 10, 2010 4:07pm
Quoting techno79
I hear people complaining about how they haven't been to wal-mart for years because all the stuff is chinese and that supports communism(and these ppl have Obama bumper stickers)....
all i hear is bah bah... wallmart is full of Chinese products. your not looking
those who can, do. those who cant, talk about those who can
  • #303,700
  • Oct 10, 2010 4:10pm Oct 10, 2010 4:10pm
Quoting gatorinla
why does the worlds biggest consumer (u.s.) not make more money selling to the worlds biggest consumer (u.s.).
Because it costs a dollar to employ 500 chinese in a factory to make that one product while the American is on strike for a 10% raise in this economy and a signing bonus? Or, like a wisconson teacher or philadelphia bus driver, over getting more free viagra(look it up in newswires).
These are not exact numbers, but you get the point.

Switching to a tangent. Anyone buy products from the internet? Notice the price difference when you order via airmail and that exact same product in the store. There's a markup.
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