Eur/usd

Fundamentally speaking, the EUR/USD pair should even breach 1.6 if things continue to go haywire.

However, there are pros and cons to it.

I reckon that it'll retrace about 200 pips or so before the end of May 2009 and then shoot up to 1.45 by the NFP closing bell.

Can I be correct this time around?

Regards.
 
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Everything is possible, but I wouldn´t dare to give a long term prognosis... a pullback of the Euro is likely to happen, but whether it will be 200 pips until end of May? Generally the Euro is on the way up. However, as I am a daytrader I don´t even try to look so far into the future. One day is difficult enough. So, tomorrow I´ll have a day off, because it´s bank holiday in US and UK!

Regards, Stony
 
Yees, I agreee with you but I still reckon that 200 pips isn't such a great deal after all.

In fact, I'm still be looking forward for it to breach 1.45 and head towards the 1.5 level.

Regards.
 
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Jacob

Hi nancy,

What happened? give us ur predictions because i got so many pips from your predictions. what do you think the movement of EUR/USD in the following week after the announcement of employment data.

Have a great weekend.


Dont allow this thread to end/close.. Its great thread
 
Sorry, I was wrong.

The Non-Farm Payroll (NFP) data release did actually showed an uptrend momentarily.

I opened long position at 1.419 and took profit at 1.425 and then waited to see where it'll go before I opened another position but to my astonishment, it went down all the way dropping like flies.

Then, I opened my second position (this time is was a short position) at 1.42.

Gradually, I witnessed my account balance rose tremendously.

When the price reached 1.41 and still displaying signs of a further slide, I opened my third position.

Once again, the slide was more than what I'd anticipated and once the price reached 1.4, I realised that I've secured more than 100% profit.

Then, I closed all my positions simultaneously.

My friends congratulated me because I've performed far better as a new forex trader than some of them who've been trading longer than me.

Kannan, I'm happy to note that you've profited from my predictions but please allow me to tell you that predictions will always remain as predictions.

Please don't blame me when I predicted wrongly and when you lose heavily, alright?
 
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Fundamentally speaking, I believe when both the oil and gold prices go up, the EUR/USD pair shall definitely react the same.
 
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The oil price did go up but the gold price went down.

Hence, I believe that the pair shall hover between 1.38 and 1.43 next week.
 
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