EU ministers to delay Greek aid call for weeks, official says

indeed 'breaking'..... maybe they feel that it is finally time to cut the greeks off...

Does it mean EUR will go down dramatically ?

sell eur and you always win

I fear for the future of this European union. They made very big mistake starting with this finance aids all over the place. this was a good political union they have turned it into a circus, were burokracy takes place ... and thousands of people get money for doing nothing. Endless Eu commisions, comissioners and etc. And the German Utopia to rule europe will fall again...they try with war 60 years ago, now they try economically, but again face fail. Happy trading to all

draghi is failure of euro

I wish there was a "Like" button here as facebook

Not so sure it will drop, after all Greece did its part so far... and we are in the day after a huge drop.. odds are some retracing will happen, but then again i have no crystal ball.

Its tried to reach 1.2710 barier.But fighting with some buying interest.

EUR shall go side way for a while before the big fall Friday afternoon

Who is looking for a long entry, the idiot.

Morgan Stanley Goes Long EUR/USD Targeting 1.34
06 Nov 2012 20:10 EST
By eFXnews.com
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For the second time in almost 6 weeks, Morgan Stanley re-examined the potential for its EUR medium-term bullish strategy through a long EUR/USD position in cash. The trade opened through triggering a limit buy order at 1.2775, with a protective stop at 1.27, and a target at 1.34.

MS' rationale behind the call is that the current European policy complacency towards Spain should prove temporary and market will switch back again into euro positive sentiment.

"Markets are currently factoring the prospect of a potential delay in Spain stepping forward and asking for EU aid. However, we continue to believe that Spain will eventually accept assistance restoring the more favorable risk assessment in the Eurozone," MS says.

The last long EUR/USD position MS established was on September 26 at 1.2850, with an initial stop at 1.2730 (raised to 1.2980), and an initial target of 1.34. The trade close a month later for 100k profit.

So which "fundamentalist" or "cause and effect" theorist (news) can explain price action to me in the Euro at this point? Why has price stayed in range - in effect not moved? Has there not been "news"? Is the "fundamental" not clear enough? So?

BTW: The explanation has to be better than this http://www.forexfactory.com/news.php?do=news&id=393460#post6176656

GS, CITI, MS...... wants to sell the first time, the Spanish government bonds. Therefore, the euro appears to be stable.

What are you talking about? I go long and short about 4 times a day each scalping for 15-20 pips or more at a shot. Last long was .5 lots entered at 11:04:23AM EST Open: 1.2728, S.L. 1.2718, T.P. 1.2751. Just so you know I trade off tick charts using huge EMA crossovers (10^3 x 10^4) and enter when price is less than 1 standard deviation of the EMA crossover. This happens several times a day. Sure I lose, but never more than my stoploss and never such that the expected value of all trades on average falls below 1.

Try trading the fast charts sometime, it's fun!

Amen!

My Best Explanation for Why I Am Technical Trader

What the fundamentalists don't understand is that buyers and sellers are only ever fighting over one thing: value . Since price (exchange rate) is THE real world proxy for value, the only thing buyers and sellers are ever fighting over is PRICE. This IS the market: the place where buyers and sellers daily war over price. In the currency market the reason is primarily to hedge currency risk, facilitate international trade, and to speculate (although technically any trader with any assets denominated in any currency could be as a risk hedge against loss of value).

As news hits the market, price is affected to the degree that the news causes a value reassessment in buyers and sellers. It is important to understand NEWS IS IMPORTANT TO THE DEGREE IT AFFECTS PRICE, AND UNIMPORTANT IN THE SAME DIRECT PROPORTION. Therefore, PRICE IS KING.

Ultimately therefore, if you develop ANY mathematically consistent definition of "support" and "resistance" (which can be defined arbitrarily from one trader to the next--and there are many systems for doing so). But most importantly, IF you make all trading decisions based on that specific mathematic consistency, you should be able with a LOT of work and a little luck to arrive at a point where your TPs are more numerous and larger than your SLs and your expected value for your average trade greater than 1.

It took me 2.5 years of full time trading (~16 hours a day on average) to arrive, but I can finally say I have arrived at that point!

Happy trading everyone! (Nice TPs, couple small SLs today trading all those EURUSD swings

i wish the world would shift its attention away from europe and on Canada who has a much bigger problem.

I trade 2 times a month, but I am sure I make more pips, money and less risk than u