EurAnalysis

Well, if it was June 2011, than it would be great news

As long as we don't break 1.2325/30 area, we should be safe. If it breaks, hello 1.2420/40.

BTW, another interesting point about the timing of Signori Dahagi's statement is that there is / was an Italian Bills Auction today and a Medium/ long term auction due on Monday, so methinks that as its month end on Tuesday, this will have to wait until Wednesday........

My stops are at 2346, thats closer than I would like.

as long as you use proper mm you never have to be scared
chill out

Yup, this consolidation is drawing on everybody's patience. However, I look at the E/U 4H chart TDI indicator and it's pretty much maxed out. The daily has retraced above the 50% level and is nearing the deviation line. There's still potential for an over shoot on the daily, but I'm hoping for the 4H to come down hard.

A 250 point drop would simply make my day

Super Mario

http://hosting.fyleio.com/17735/public/realmario.JPG






Look out Ben Bernanke, you have competition. Thursday’s market was lifted not by a computer game hero like Super Mario, but a central banking buffoon: Mario Draghi of the ECB.

In a similar fashion to the Fed’s central manipulator, Mario Draghi waited until his markets to manipulate were on the precipice. The Euro currency was about to plummet below the 1.2100 handle with any more bad and Euro equities had been crushed lately, especially Spanish stocks. So Super Mario did his best impersonation of Bernanke and claimed “all will be well – trust me.”

Of course, we have heard this before – through 19 Summits already – and nothing has come of it. Therefore, I won’t expect much this time either.

Nevertheless, all markets EXPLODED again. Here is the statement that caused the most recent preposterous rally http://www.bloomberg.com/video/draghi-ecb-to-do-whatever-needed-to-preserve-euro-OF8PNB8EROSj1nDX9sZquw.html


Trade well and follow the trend, not the so-called “experts.”







Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.

I do have proper MM. But my account is quite big for me and yesterday, ah that was such a terrible day. I have lost @ 7% of floating profit. And I would lock it if I knew Draghi had that press conference and only reloaded here. So I have fooked it up totally and now I suffer. Just a foking week.

T

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Today's Markets:
In Asia, Japan +1.5%. Hong Kong +2%. China +0.1%. India +1.2%.
In Europe, at midday, London +0.2%. Paris +1.2%. Frankfurt +0.4%.
Futures at 7:00: Dow +0.4%. S&P +0.5%. Nasdaq +0.5%. Crude +0.4% to $89.78. Gold +0.65% to $1630.40.

Today's economic calendar:
8:30 GDP Q2
9:55 Reuters/UofM Consumer Sentiment

Tom,

In less than 15 minutes we are facing a US GDP report. This number has significant importance as it is the thermometer in the a$$ of the US economy. So, obviously the market is going to be very volatile until the number is released.

My suggestion is to chill out and whatever happens, happens. As long as your MM is in check, leave things as is. If your emotions are getting the better of you, look away from your computer until 10 minutes after the data release. Then the roller coaster ride will be over because price will only be travelling in one direction.

Just my 2 cents buddy

I also did sometimes lose the floating profit
but hey, there will always be another trade, that's why I don't get upset. Take it easy man.

http://www.actionforex.com/action-in...0120727170909/

Daily Report: Draghi Inspired Risk Rally Continues

The ECB Draghi triggered risk rally overnight was impressive. DOW jumped 211 pts to close at 12887.93 and is back near to top of recent range. Asian equities followed with Nikkei up 123 pts and HK HSI up 350 pts at the time of writing. Spanish 10 year yield settled comfortably below 7% level at 6.872% while Italian yield settled below 6% at 5.991%. Dollar index's break of 82.73 support confirmed short term topping and we'd likely see the greenback remains soft in near term. But we'd likely to point out that EUR/USD is feeling some resistance from 1.2324 and will need some more fuel to break through this resistance level. Similar situation is seen in GBP/USD as it retreated mildly from 1.5737/5777 resistance zone. USD/CHF also recovered after hitting 0.9746 support. Markets might take a breath today before the week closes.

To recap, ECB Draghi's comment was simple yet effective. Draghi simply put it straight that "ECB is ready to do whatever it takes to preserve the Euro" and he urged the markets to believe him "it will be enough". ECB could restart the bond buying program to support Spanish and Italian bonds. Or give a nod to giving ESM a banking license to increase its firepower. However, we'd emphasize again that nothing if really confirmed. ECB will still face political pressure from Germany. And it's uncertain what the majority inside ECB thinks. The development makes next week's ECB meeting and press conference a very important one as markets would anticipate some follow up from Draghi.

Meanwhile, the situation in Greece will also cloud the outlook in Euro. The coalition leaders are yet to agree on an EUR 11.5b austerity package. Prime Minister Samaras will need to meet with Pasok's Venizelos and Democratic Left's Kouvelis again on July 30. Kouvelis said that the discussions are "not done" as “the economic situation is extremely difficult but society on the other hand can’t stand being bled any more.” EC President Barroso urged Greece to "deliver" and warned that "words are not enough". Barroso also emphasized that "staying in the euro is the best chance to avoid worse hardship and difficulties for the Greek people, mainly for those in vulnerable positions". Meanwhile, it's also uncertain for now whether Greece will need another debt restructuring.

In Japan, national CPI core unexpectedly dropped -0.2% yoy in June while Tokyo CPI core dropped -0.6% yoy in July. The data indicates that mild deflation persisted in the country and would mount additional pressure on BoJ to ease monetary policies further. BoJ has a 1% inflation target and expects to meet this target in fiscal year 2014. But two new board members criticized that this projection is overly optimistic.

Looking ahead, US Q2 GDP advanced reading will be the major focus today and is expected to show 1.4% annualize growth, comparing to 1.9% in Q1. Swiss KOF, German CPI and U of Michigan sentiment will also be released.

Man, I dont care about floating profit that much. But I could have 7% and now I dont and if it spikes to 2346 I am about to loose 1,2%. Thats a lot.

Thanks for trying to calm me down man, I am very nervous.

T

the potential bounce off the DP that I mentioned earlier got an extra boost from some more hopium news, so the HL with bullish divergence after the heads up vol alert was right on the money.

I took partials at the MR 1 and am playing safe in front of the US GDP data - so now flat....

GDP figures are known to have roughly 15-20 minutes of knee jerk reaction. After that, it could continue or go opposite. Daily move on GDP is around 90 pips.

PT, still have your sell limit at 1.2360?

GDP 1.5% estimate 1.4%. Last month revised up from 1.6% to 2%.

One Minute To Go - Live Squak - Expected 1.4%


And The Number Is 1.5

what to do what to do

yep