Eur/USD

Ivanovich · May 4, 2006

Wheee...through 1.27

In the months to come, let's see what this begins to do to the EU economy...

GlobalFinancier · May 4, 2006

Quote from GlobalFinancier:

Lol, It seems as if I've been deeply poisoned by fundamental analysis. Now whenever I think long EUR/USD, a picture of Trichet saying rates neutral pops up in my head.
Anyways, long and bullish, this will probably be a long run play...

Ok, the market is totally based on speculation now.
Bull on EUR/USD nonetheless. Like Bank of Canada head Mr Dodge said... the forex markets tend to overshoot.

downrivertrader · May 4, 2006

While I agree with all the reasons it should not go up anymore..... looks like

1.2738

then

1.2790

then

1.2843

to me.

Sigh.

GlobalFinancier · May 5, 2006

YEAH YEAH YEAH
NFP LOWER, UNEMPLOYMENT UNCHANGED WOOOOHOOOOO!!
Seems like the Feds are gonna save the stock market and real estate market, the USD is on a one way trip to hell!
Might I say that I'm starting to like Ben Bernanke?...

ForexPro · May 5, 2006

Agreed. I will buy the pull back.

Buy1Sell2 · May 5, 2006

Too early to tell here, but there is certainly potential for bearish divergence on hourly charts. It would be a classic setup if the market fails to tack on gains here in the next hour or two. I'm speaking about euro fx futures

misha7 · May 5, 2006

Quote from GlobalFinancier:

YEAH YEAH YEAH
NFP LOWER, UNEMPLOYMENT UNCHANGED WOOOOHOOOOO!!
Seems like the Feds are gonna save the stock market and real estate market, the USD is on a one way trip to hell!
Might I say that I'm starting to like Ben Bernanke?...

Average hourly earnings are up so no reason for the Fed to be too doveish, at least not after this data

Ivanovich · May 5, 2006

I agree. The Fed is going to stomp on everyone one of these days. Everyone is cheering the demise of the almighty dollar, and as usual, the US keeps quiet on it, except to chide Japan for not allowing their currency to slide like the rest of the majors.

The Fed knows exactly what it's doing, I'm sure. I certainly have no idea what it's doing, but the Fed does.

GlobalFinancier · May 5, 2006

I got a bit too excited.
That's due to the local exchange being closed for A WEEK, and gold is going thru the roof. I should've made 20-40% returns, but since the exchange won't open till next week, I need to keep gold afloat

, otherwise my big trade of the year is gone

Buy1Sell2 · May 5, 2006

Quote from Buy1Sell2:

Too early to tell here, but there is certainly potential for bearish divergence on hourly charts. It would be a classic setup if the market fails to tack on gains here in the next hour or two. I'm speaking about euro fx futures

I will have no choice here in 5 minutes when the hourly bar finishes to do anything but go short. Classic bearish MACD Histogram divergence. EDIT--unless the last 5 minutes negates it.