Eur/USD

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I want to start trading FX but after reading the complaints about IDEALPRO, made me consider currency futures instead. So currency futures vs. cash - pros and cons - anyone care to comment?
 
What fundamentally suports the euro against the dollar? It could not be interest rates. For every $10bil I leave in a US bank will provde me with $259mil more in one year than in the EU Bank. The deficit is also not caused by EURO but by China and Japan. Euro growth rates is also mush smaller than those in the US?

Any comments appreciated
 
Agree, I think all the bad news is priced in now, bar a war with Iran.
If you look on the daily charts, you'll see an inverse head and shoulders formation, with the neckline at 1.22. When the ECB doesnt raise rates next week I think it will test that area.
The market has overshot this week in my opinion.
Managed to stay out of the way of the moving train for the most part though.
Reminds me of the dot.com boom, which was fundamentally supported, but you'd of lost your shirt shorting it upwards, but in the end shorting was the correct thing to do.
 
The more I watch this, the more it seems like a new month will change the direction. It's trying to push for 1.26 by month end, but it seems way over extended. I've taken profits on my other short USD pairs, and took profits on gold and silver. I'm clean right now, watching.
 
I love the news - "US GDP came in only at 4.8% (some analysts were expecting a bigger number and were disappointed). This will bode well for Euro bulls."

LOL :) What was the EZ GDP again? Has it been 4.8% in the last, oh I don't know, 5 years? How about half that?
 
Euro bulls will suggest its like looking in the rear-view mirror. Crazy times. Whats your opinion for rate meetings next week?

I say:

ECB - no change
RBA - no change

Reality will hit then.
 
Quote from Ivanovich:

I love the news - "US GDP came in only at 4.8% (some analysts were expecting a bigger number and were disappointed). This will bode well for Euro bulls."

LOL :) What was the EZ GDP again? Has it been 4.8% in the last, oh I don't know, 5 years? How about half that?
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Q1 Employer Cost Index +0.6%, smallest gain in years.
It's fueling market expectations of "a pause by the Fed"
The hourly chart looks overbought with a lot of divergences which make me uneasy. Though the news is bullish, oil is turning green ticks again, gold is above $640, I somehow feel weirdly feel that the EUR/USD will retrace. Not that I'm exiting yet(exit on an hourly close below 1.2530) But I don't feel well about it. Of course, if it continues to rally to new highs it'll be better but...
 
Quote from YeahIknow:

Euro bulls will suggest its like looking in the rear-view mirror. Crazy times. Whats your opinion for rate meetings next week?

I say:

ECB - no change
RBA - no change

Reality will hit then.
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ECB will not hike. They don't want a stronger Euro, even if it means giving up some price stability.
RBA will hike. They're showing indications, everything domestically in Aussie is working well, so they'll hike like Canada.
 
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