Euro and Bloomberg

This is a discussion on Euro and Bloomberg within the General Trading Chat forums, part of the Reception category; I heard on Bloomberg today that the Euro is set to weaken against the dollar so I have sold a ...

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Old Jun 2, 2009, 10:36pm   #1
Joined Apr 2009
Euro and Bloomberg

I heard on Bloomberg today that the Euro is set to weaken against the dollar so I have sold a few contracts Euro and Bought USD.

I heard this one the news today. Anyone have any thoughts on this ?
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Old Jun 3, 2009, 12:16am   #2
 
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what price did you sell?
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Old Jun 3, 2009, 12:23am   #3
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Yeah i have sold too, my system is showing a strong sell here, it is usually pretty accurate on these reversals when there is a reli strong uptrend...what i do is i slaughter a pig and pour the guts onto a rock and trade off that...yeah have re-mortgaged the house for this one, ftw!!!

Edit: i have worrying and disturbing news, i have conducted more thorough analysis...i cut the head off a chicken and led it run round on my pool table, i have set out squares with actions on and where it stops i follow the square's actions...it is saying sell eur/usd...im off to find another farmyard animal to hassle.

I find your method of trading strange and unusual but i wish you all the best with this one ukdaytrader.

Last edited by cr6196; Jun 3, 2009 at 12:48am. Reason: urgent news
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Old Jun 3, 2009, 8:23am   #4
 
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EURUSD has run from 130 to 142 recently so i guess the talking heads on bloomberg are expecting profit taking, but the trend at the moment is still up
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Old Jun 3, 2009, 8:34am   #5
 
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I'm starting to think this is a wind up
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Old Jun 3, 2009, 8:59am   #6
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ukdaytrader started this thread OK I just wanted to make sure I got this correct

I sold 1 EURUSD at 1.43151
another at 1.43164
another at 1.43047

So at the moment 1 EUR buys 1.43 USD

Bloomberg are saying it will be 1.3USD in a months time.

So I sold the contracts.

I don't normally do FX particularly Euro/USD so just wanted to make sure that I have done the right thing in terms of selling ?

OK I think there is some rationale to this. If you think yields in the US have risen at the long end, makes it more profitable to hold dollars than Euro. It could take some time for money to move.
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Old Jun 3, 2009, 8:59am   #7
 
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Someone playing the long game if it is....putting bloomberg TV into threads a week ago just to use it now.

I think it's just that some REALLY do believe what Coco the clown and all his pal say on Bloomberg/CNBC etc.

If i could call the market as well as they make out i'd be in the carribean not sat in a grubby studio showing off
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Old Jun 3, 2009, 9:01am   #8
 
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Yep, you're short 3 EURUSD at an average of 14312.66. So if the $ rallies this pair will fall.

Good luck!
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Old Jun 3, 2009, 9:14am   #9
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ukdaytrader started this thread Here is the Article..........just want to make sure I've got the position the right way round.

Euro?s Rally Against Dollar May Be in ?Last Stage,? UBS Says - Bloomberg.com
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Old Jun 3, 2009, 9:20am   #10
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ukdaytrader started this thread On coco the clown, much like market direction don't fight it, embrace it.

The vast majority of Americans and UK traders and investors watch Bloomberg. They also believe it is true what they hear on Bloomberg, much like what they watch on Fox. They also act on it, sometimes to their peril.

The Brits read the Sun and what that S*** on Sky News and also believe most of it.

You obviously dont need to react to every story as I think it would really be a zero sum game if you did. However if you are cautious about what you select, at least do the analysis before jumping in, then it can yield pleasant results.

As long as you understand that what you are doing everyone else will be doing then its not really an issue.
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