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  • #337,141
  • Dec 1, 2010 4:17pm Dec 1, 2010 4:17pm
Quoting apt
Dropped 1 pip under 1.30, Buyers coming in strong to support a bullish rally.

Too many sellers however, it won't last long we will see a drop well below 1.300 before NY open.
hopefully you will be correct exactly 24 hours after your initial estimate.
  • #337,142
  • Dec 1, 2010 4:17pm Dec 1, 2010 4:17pm
if ecb even hints at any printing tomorrow you can kiss the euro goodbye....one of those 400 pip drop days

i doubt they will say anything new though

http://www.forexlive.com/150767/all/...ed-and-the-boj
  • #337,143
  • Dec 1, 2010 4:18pm Dec 1, 2010 4:18pm
morning all.
what's going on
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #337,144
  • Dec 1, 2010 4:20pm Dec 1, 2010 4:20pm
Quoting gatorinla
another at 3063

it looks like there is a lot of congestion
Attached Image (click to enlarge)
Click to Enlarge Name: eudec1a.jpg Size: 123 KB
  • #337,145
  • Dec 1, 2010 4:20pm Dec 1, 2010 4:20pm
November close is your support.

Look for reasons to buy with max upper range of 1.3470 currently.
  • #337,146
  • Dec 1, 2010 4:21pm Dec 1, 2010 4:21pm
Quoting mfoste1
if ecb even hints at any printing tomorrow you can kiss the euro goodbye....one of those 400 pip drop days

i doubt they will say anything new though

http://www.forexlive.com/150767/all/...ed-and-the-boj
before I comment, what do you mean by 'kiss it goodbye'.

I think people either associate a currency with doing good or bad, I don't like to really label it that.

I think it is just going to trade parity. I don't care what they say, EZ exports & wants a lower value euro for the time being.

IMO China suffers more from lower value USD & EURO since they are the biggest creditors.

China just keeps buying U.S. bonds, and when they mature, they just gain interest, refinance and buy new bonds.
  • #337,147
  • Dec 1, 2010 4:22pm Dec 1, 2010 4:22pm
Quoting mikej2010
If you are unsure, wait for tomorrows, 10gmt & 12:45 gmt, but just wait for the EZ GDP & the ECB meeting results.

I am looking for them to have a plan and atleast make it to 3300-3500 or them NOT have a plan & go down.

Today there was a spike on thoughts of IMF helping out more in the EZ but the U.S. was quick to shut down they would contribute 'more' to the IMF so that is out of the question for the time being.

I am short from scalping/trading todays dips and about to go long again.
Simply curious of Gator's opinion as we seem to have a similar system in some regards. I am already short from 1.315. I hear everyone calling easy money on this rally so I am skeptical.

Given aussie's data recently, their release at in 8 minutes is unlikely to be very promising imo.
  • #337,148
  • Dec 1, 2010 4:23pm Dec 1, 2010 4:23pm
Quoting mfoste1
if ecb even hints at any printing tomorrow you can kiss the euro goodbye....one of those 400 pip drop days

i doubt they will say anything new though

http://www.forexlive.com/150767/all/...ed-and-the-boj
I think that is BS. Trichet and Webber would not say something like that.
This is just market rumors out there. to get some media hype.

I also think ECB is buying greek, portughese, irish, debt but no printing.
that would kill all the confidence left in EZ..

anyway key area to watch 1.31. bulls need to defend the level with their lives. or money
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #337,149
  • Dec 1, 2010 4:23pm Dec 1, 2010 4:23pm
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting mikej2010
hopefully you will be correct exactly 24 hours after your initial estimate.
negative, news beat techs.

sad day. ;P
  • #337,150
  • Dec 1, 2010 4:24pm Dec 1, 2010 4:24pm
Article Source: http://online.wsj.com/article/SB1000...s_markets_main

The Federal Reserve, forced by Congress to release details on more than a trillion dollars' worth of loans made during the financial crisis, disclosed the extent to which it supported foreign banks and U.S.-based investment banks Goldman Sachs Group Inc. and Morgan Stanley in the worst days of 2008, and the breadth of its lending to other firms including General Electric Co., Toyota Motor Corp. and McDonalds Corp.
http://m.wsj.net/video/20101201/1201...ed_512x288.jpg
The Federal Reserve today lifted the curtain on the long-awaited details of its emergency lending program during the financial crisis. David Reilly, Jon Hilsenrath & Dennis Berman discuss some of the surprising findings.


The lending, most of which has been paid back, represents the Fed's most aggressive intervention in the economy ever. Though the Fed has been credited with helping prevent many banks and firms from collapsing as credit markets stopped functioning, critics also say the Fed overreached.
The scale of the Fed's lending was known already. Its portfolio of loans and securities soared from less than $900 billion in 2007 to more than $2 trillion during the crisis. The specifics of who got the money hadn't been known. Among them:
• Foreign banks were heavy borrowers. Among the biggest from the Fed's commercial-paper program was Swiss banking giant UBS AG, which tapped it for $37 billion in October 2008. Barclays PLC, the British bank that declined to rescue Lehman Brothers but later bought much of it from bankruptcy, tapped the Fed for roughly $10 billion in commercial-paper loans in October 2008. All the borrowings were repaid by the end of 2009, a Barclays spokesman said. Dexia AG, a Belgian bank, turned to the Fed for $10.9 billion in 2008, and Commerzbank AG, a German bank, came for $11.6 billion.
• Goldman Sachs and Morgan Stanley borrowed directly from the Fed 84 and 212 times, respectively, after the collapse of Lehman Brothers in September 2008. Goldman's overnight loans peaked at $18 billion in mid-October. Morgan Stanley borrowed more, as its chief executive, John Mack, was complaining that the bank was target of speculators betting it would fail. In its most troubled days in late September 2008, Morgan and its London arm borrowed nearly $60 billion.
  • #337,151
  • Dec 1, 2010 4:25pm Dec 1, 2010 4:25pm
Quoting mfoste1
new monthly pivot at 3085, 50 at 3079....
I'm sorry mfoste1 - how do you get these number? I'm not on front of my screen, but knowing the pivot forumla it doesn't sound correct. I'm not sure if I'm mistaken somewhere. Please advice. Thanks.
  • #337,152
  • Dec 1, 2010 4:26pm Dec 1, 2010 4:26pm
Quoting apt
negative, news beat techs.

sad day. ;P
no offense, but you seemed to over-confidence last night in your stance ... and it didn't work in your favor, hopefully you didn't lose anything though.
  • #337,153
  • Dec 1, 2010 4:26pm Dec 1, 2010 4:26pm
Quoting DMA Trader
I think that is BS. Trichet and Webber would not say something like that.
This is just market rumors out there. to get some media hype.

I also think ECB is buying greek, portughese, irish, debt but no printing.
that would kill all the confidence left in EZ..

anyway key area to watch 1.31. bulls need to defend the level with their lives. or money
when ecb buys bonds, its essentially attempting to lower yields rates, which is devaluing the euro....
  • #337,154
  • Dec 1, 2010 4:28pm Dec 1, 2010 4:28pm
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting mikej2010
no offense, but you seemed to over-confidence last night in your stance ... and it didn't work in your favor, hopefully you didn't lose anything though.
I did, I was just going off the previous weeks pattern.

But I learned from my mistake.

Plus the fact that over confidence makes you a loser, and can result in continually moving your stop loss because you believe you are right. Which is what I did, and made me a BIG loser this morning.
  • #337,155
  • Dec 1, 2010 4:28pm Dec 1, 2010 4:28pm
Quoting alex.fx
I'm sorry mfoste1 - how do you get these number? I'm not on front of my screen, but knowing the pivot forumla it doesn't sound correct. I'm not sure if I'm mistaken somewhere. Please advice. Thanks.

its auto pivot, its(3085) correct....

3079 is a fib level (50 of 1875-4283)

so there is a lot of technical support here, and just above is the 200dma which may act as resistance.
  • #337,156
  • Dec 1, 2010 4:31pm Dec 1, 2010 4:31pm
Quoting apt
I understand your post, but my post isn't an opinion.

I'm stating the current facts of the eurozone dilemma.

Past currency history, for any currency, shows when there is an ongoing crisis, there is no major retrace until fears subside.

The only time you see retrace on a trend, is when one economy is just flat out doing better than the other, and there are no extremes.

For example during the AUD/USD run, the Australian economy was doing well , and gold was at an all time high. The United States Dollar wasn't in turmoil. It was just one...
This is your response to me telling that you were stating a 'fact' when I said you forgot to put 'IMO'

Quoting apt
I did, I was just going off the previous weeks pattern.

But I learned from my mistake.

Plus the fact that over confidence makes you a loser, and can result in continually moving your stop loss because you believe you are right. Which is what I did, and made me a BIG loser this morning.
Now do you see why I told you to label it as 'IMO' & not fact?
  • #337,157
  • Dec 1, 2010 4:33pm Dec 1, 2010 4:33pm
Quoting darimik
thats an indirect effect though.

true, but all the same, when they buy these bonds interest rates go down...
  • #337,158
  • Dec 1, 2010 4:35pm Dec 1, 2010 4:35pm
Quoting mfoste1
nice chart and analysis

we closed above the 200dma, 38 fib(5147-1875)....surely makes a case for a covering rally to 3312-3508.

i gotta give a presentation tomorrow in international econ relations and guess what its on?....euro problems

i think i might throw a few of my charts and analysis up...."whats that?" i get that a lot lol
You will be the hit of the class
  • #337,159
  • Dec 1, 2010 4:35pm Dec 1, 2010 4:35pm
Quoting mfoste1
when ecb buys bonds, its essentially attempting to lower yields rates, which is devaluing the euro....
true. but it's just my personal opinion. Portugal had a strong action yesterday. who on earth would buy that if not ECB ? maybe FED. joking but don't think an investor would buy Portuguese or Irish debt. or Greek.

but trichet would not admit it. would kill the EUR.

anyway a lot of pressure for the EUR today and tomorrow from NFP.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #337,160
  • Dec 1, 2010 4:37pm Dec 1, 2010 4:37pm
Quoting PipChick
You will be the hit of the class

here i found something you might like

http://www.cantonrep.com/newsnow/x11...-after-7th-DUI
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