so, then, as Ivan is pointing out with the other factors (oil, interest rates, etc.), the USD eco numbers still suck - that is true - but I think those numbers are not the real reason EUR/USD flew last year. it was (bad) speculation that moved the market up 16-cents. a global USD-sell off panic - unfounded because foreign investors didn't flee the US, as indicated they would, by prominent bozos. and, I say "bad" because, apart from the US interest rate hikes ("FED FED FED") pretty much everything else remains in place yet we're within 3 cents of the price where the E/U took off last September (the 1.2100s). In the simple view, that indicates a 1300-tic "whoops-retracement." Meaning, the price spike shoulda never happened. That's my take. What SHOULD happen now (doesn't mean it will) is that we'll see a range set in again, high to about 1.3000, low to about 1.2200s. That's just a wild guess though. I trade both long and short EUR/USD so I don't care where it goes, as long as it goes. Congrats to Chinook for passing 100,000 hits. Sam
Last december, everybody was bullish on EUR and bearish on USD once the rate was at 1.36! Guess what happened? When everybody is bullish things suddently stop and turn without warning. Now i feel the whole world is bearish on the EUR.
Probably will find a bottom soon and form a range trade. Big money Buffet, Gates, et. al will not panic and will not sell into this that I am fairly certain. Charts look ugly will take some time for better clarity. Big players will not sell into a route, they will wait patiently for a stable market if they decide to liquidate at all.
Well, we're in definite need of a bounce somewhere here. But then again, we kept looking for a bounce back when the Euro was rocketing towards 1.36. Why are posts disappearing?
Posts are disappearing because the moderator felt that Scalpz was making defamatory and libelous remarks about what he believes to be my trading p/l in the EUR. Only an idiot would think that I didn't liquidate my core long holdings long ago and at significant profit. I, like other experienced traders, utilize a trailing stop loss so that our hard earned gains do not disappear. I've had plenty of losing trades in my time, however, the EUR has not been one of them. Definition of Defamation and Libel: Defamation Defamation is the publication of untrue statements about someone else that injure that person's reputation or character. Defamation is a matter of tort law. Thus, it makes no difference whether the person who has published the untrue statements has any contract or dealings with the subject of the statements. Slander and Libel Slander is oral defamation and libel is written defamation. Libel is also used to refer to defamation that is in print, picture or any other permanent visual form.
I'm not calling for a bottom. Charts look ugly. I'm just suggesting that I don't think the famous big money will liquidate core dollar shorts until seeing more evidence of $ strength. I bet Buffet is happy to have Charlie Munger working with him . People forget that Buffet is long dollars in his core business operations as most earn their profits in $. I believe he will not feel pressure on this trade for a long long time.
Posts/Neil's flames were removed by the moderator because ET wants to keep a non-flaming environment. I cannot say anything to that euro zealot and he threatens to sue me! LOL - maybe to try to get some of his money back he lost trading euro long from 1.3665. Best place for some idiot who threatens traders, is on Ignore, where I have him. (subject closed.) Coinz