RidderTrade
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USD/CAD surging!!
fasten your seatbelts Pippy.. dow 90 33
eur/usd still holding 1.3840
USD/CAD surging!!
I'm looking at the S&P500 not the Dow .. S&P is slightly higher from the beginning of the hour.. USD/CHF surging higher now ..
EUR/USD 1.384 is very strong.. I bet 1.379 is incredibly strong..
usd index daily chart confirm that it will trend higher for opening on monday,eu closed a bit higher after
a good rally down to 1.3840,and failed at this points bounce back up closing the day at 1.3920 on friday 2/1/2009.
study on eu daily chart also very clear to me that eu will heading down back i think to touch 1.3840 0support level,1.3840 have3 been tested 3 time and failed,if this level cross looking at 1.37xx till 1.25xx before heading up again.
study usd index daily chart confirmed to me that usd will most properly heading back up to 81.92 level which is the higher level done at friday. usd index closed at 81.47 on friday.
study on eliot wave chart also confirm that eu will heading back down to 1.1xx level maybe can reach 0.8600 level.eu now at wave C heading downtrend.
27.77 C right now in Houston.. unfortunately, it hits greater than 40 in the summer and is brutally hot. We're the exact same latitude as Cairo
Technical indicators are looking for medium-term USD strength..
Recent news adds weight as well.. Eurozone business leaders are becoming more and more pessimistic. Which leads directly to less jobs.. Which then in turn leads in an overall downsizing of the Eurozone economy.
My feeling towards USD strength stems from a distrust of Trichet as well.. I believe Trichet continues to be too optimistic and the Eurozone countries were too slow to begin economic stimulation and that they will be outpaced in recovery by the US. The US government is in command of a truly enormous amount of money and is showing a willingness to spend it in order to prevent economic collapse. We are very lucky to have experienced the consequences of doing nothing in the 1930s and in my opinion have taken great steps to get the economy back on track.
Just wait for the next wave of mortgage problems to hit .. we're in the eye of the hurricane..
USD in 2009 will crush the Euro and commodity currencies worse than it did in November. Oil down to $25 this time.. virtually any currency save for Swiss Francs and JPY are a safe bet to be absolutely murdered by the USD. People know the 2nd bubble will come but this time they'll bet on the US in greater numbers knowing the US really is in the best position to spend their way out.
Hello Pippy.. i agree totally with you..
also the rates by the ECB has been kept structually too high..
its a mess here.. :innocent:
as there will be no more room for FED to cut the rates..
ECB wil finally wil have to..
same for GBP wil also be crushed..
News is an indicator and a very useful one.. A seed isn't a tree, but once the seed is planted we know logically a tree is likely to grow from that spot based on our previous experience planting trees..
Businesses become pessimistic and begin looking to save money by cutting jobs or not hiring people for new jobs.. This in turn causes people who are jobless in any industry to drop out of supporting the local economy which starts a chain reaction among retailers, manufacturers etc.. domino falling on domino.. For some reason many businesses in the Eurozone have remained optimistic, it is only now that news showing decreased confidence in the economy by business owners is likely to set off the chain reaction of bad economic events which will ultimately send the Euro tumbling vs. the USD.
It's just one more indicator of impending doom for Eur/USD .. I just don't know if we'll be heading a little higher first.. It seems like it wants to jump back into the low 1.40s doesn't it??