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Old 08-01-2003, 12:25   #1
trawlerdude
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EUR/$ --- Whooooaaa!!!
What happened? Did anybody make money on this jump??? Was there anything specific that caused the spike.
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Old 08-01-2003, 13:16   #2
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No, I haven't looked into what happened yet. Last night I entered the market short the swiss and long on the euro and pound and was up about 120 pips earlier this morning before they all reversed. Luckily I moved my stops up and didn't get caught with my pants down
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Old 08-01-2003, 13:31   #3
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EUR/USD went up to 1.0535 on PIMCO's report
EUR/USD went up to 1.0535 (New 3-year high) on PIMCO (Big US Funds) report that lower USD would help fight deflation being cited.
Agressive short squeeze with stop losses being broken which first hurt USD/JPY, then more broad effect.
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Old 08-01-2003, 13:36   #4
Kyle
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I belive it was the plain crash here in the US, investors will move on anything in this geo political climent..
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Old 08-01-2003, 13:51   #5
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Okay then. Now what do we do?
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Old 08-01-2003, 14:07   #6
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Quote:
Originally posted by trawlerdude
Okay then. Now what do we do?

Hope and pray, If your in a droping position I personally do not believe the dollar can or will sustain at this level, It was stating to look better opening of US markets then this crash was thrown into the equation only to frighten traders enough to make a huge move..
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Old 09-01-2003, 03:09   #7
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Smile
Did not get on the EUR/USD but got the USD/JPY move.

The USD/JPY hour chart had a good pattern set up (123) or lower high.

e-mail us if you want more info

at nrmdforex@yahoo.com.au
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