FOREX PRO Weekly July 16-20, 2012

Louis123321

Corporal
Messages
174
I don't think this single news release should sustain as the recent rebound up failed miserably, the market correcting itself soonish seems logical to me, to the downside.
 

Louis123321

Corporal
Messages
174
what news? I see no news
This upward spike is purely from the US retail sales news report.

released figure: -0.5%
forecast: 0.1%
previous: -0.2%

8:30am USD

Core Retail Sales report also:

released figure: -0.4%
forecast: 0.1%
previous: -0.4%
 

Louis123321

Corporal
Messages
174
Very interesting how a slightly average to negative report coming out of US can push aside the multi euro country crisis which is still very real & not changing, which is why I don't think it will change much. Market will go down eventually, over the next few days, even if it will now be pushed to the 1.2330 resistance. I still see a chance for market to erase this line and correct itself to the downside today, and will not be closing my short shorts!
 

D.R.&Quinch

Sergeant
Messages
661
trying to remember sives justification for a retracement. i think any news at this price area is gonna cause too big a bounce
 

minimax

1st Lieutenant
Messages
1,456
I am done for today, I suppose, but will wait for pullback if comes soon; if he wants down, must take 1,2260, otherwise I treat as pullback in the way up
 

D.R.&Quinch

Sergeant
Messages
661
Very interesting how a slightly average to negative report coming out of US can push aside the multi euro country crisis which is still very real & not changing, which is why I don't think it will change much. Market will go down eventually, over the next few days, even if it will now be pushed to the 1.2330 resistance. I still see a chance for market to erase this line and correct itself to the downside today, and will not be closing my short shorts!
i am totally with u on this, tho i am seeing differnet on the charts to what my logic tells me so im getting edgy. very good point about the news overreaction
 
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