Thread: CatFx50
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Old 01-26-2007, 02:06 PM
Smooth Smooth is offline
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Join Date: Dec 2006
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I donīt know, how you arrive at your levels. I am not a tech trader BUT either you are some sort of phenomenon, genius or you have a crystal ball.

I view this from a technical perspective ... ok letīs go,

today we had durable goods numbers

( FOREXFACTORY DEFINITION to make it short Measures the total value of new purchase orders placed with domestic manufacturers for hard goods with a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes. A rising trend has a positive effect on the nation's currency because an increased level of purchase orders signals that manufacturers will be busy in the months to come as they work to fill the orders. Traders watch this indicator closely because of it's predictive abilities.
The number that came in was pretty high. It was a 2.3% month to month change ( anualized 27.6 % which is very impressive)

The number alone would move the market because the deviation from the forecast that was around 0.5% was big ( the number we got was more the 4 times the forecast !! ) + The market has a quite strong gbp long, usd short respectivly bias. A number like this can change the bias especially the durable goods number since this is a very good indicator on how well the economy is doing.

BUT

Price went down made a low at 1.9565 ( missed my tp by 5 pips ) AND skyrocketed after for no obvious reason. 1.9619 the high so far.

Apparently I am too stupid to see those levels but atleast I understand that they are more than reliable.

Cheers Nina, you are an inspiration

Have Fun !

/Smooth
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