May 12, 2008
May 08, 2008
May 07, 2008
April 30, 2008
EUR/USD Update: Daily Breakdown?
I think the EUR/USD, in the short term, could pop back upward (see the post below). But overall, in the longer term, I think the pair is breaking down and will fall all the way to the 1.5000 mark. At least that far. That would coincide nicely with the red trendline we can see in the chart below.
Is this break below the blue channel the breakdown that leads to the move all the way down to the 1.5000 level? I don't think so. I think we have one more short term move up before it all breaks apart.
EUR/USD Update: 1 Hour Trendline
I'm looking for the pair to break and close above the red trendline. If it can do that, I'll buy it with a target of the first fib retracement level at 1.5652 -- but I really think it could go all the way to the 1.5722 mark -- that's the 38% retracement.
April 22, 2008
April 19, 2008
EUR/USD on the way down
We talked about the EUR/USD falling a long time back. Let's just say that I was way premature in the expectation that the pair could fall. Anyway, it's finally doing that now, and I'm happy to say that we'll be following the fall as it goes along.
So, it looks like the pair is on the way down (finally) to the blue trendline. If you want to see more about the origins of that line, you can watch the past videos (they're short, and fun). If the pair breaks below the lows from Thursday the 17th and Friday the 18th, at about 1.5710, then I'd be willing to go for it.
Sure, it could go back up, but I'm not interested in buy trades on this pair until we get above 1.6000.
April 16, 2008
April 09, 2008
Let's Not Spend and Have a Recession Instead
If you think that consumer spending is important to the economy, and,
like, you probably do if you live on Earth, then this ought to interest
you; it's the XRT index -- the S&P Retail Index:
Consumers in the United States have stopped spending. Consumer spending is 66%+ of total Gross Domestic Product for a country. Recession, anyone?
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