EURUSD

The crazy moves usually happen when news are counter what trend is. Now I don't think so but we'll see. This consolidations resistance is somewhere between 4100 and 4115 so if that breaks, tough luck but that's trading. calculated risks.

thats exactly what i just said...still too early


Edit: a break of 1.4115 would be my signal to go long

what makes you say it will go long? the trend is not in an uptrend and news is bad for euro

I just prefer to take shorts on resistance, not breakouts. I only trade breakouts on longer term positions and now I'm anticipating a trend change in some future so no long term (weeks-months) positions for me at the moment.

im not saying anything...all i know is where current resistance/support is...a break of either is my signal to enter

agree

even if you go long at 1.4115, the 4hr chart still has the pair in downtrend. I think that the uptrend will not last long and continue to go down.

logic says this is a perfect shorting opportunity. long term trend is down, news is bad...cant break 61.8% fib. however...were 25 minutes from european market open...too risky

You are totally right. Maybe someone understands how bad the fannie/freddie fiasco really is for US.

Now is a great time to short the the other stocks on the FED short restriction list. My favourite is Lehman, they might be the next one to fall. Yes I have a position. Yes I'm in profit

Simply waiting for the price to break to short for good pips .The higher it can go the better ,let rally up now .

fontu

Lehman upgraded to buy...along with Citigroup...lol

EU's Almunia warns of inflation risk -paper
PARIS, Sept 9 (Reuters) - There are signs of a possible inflationary spiral in Europe and wage restraint is vital, European Economic and Monetary Affairs Commissioner Joaquin Almunia was quoted as saying by Le Figaro daily on Tuesday.

Almunia said the European Union was going to revise up its forecast for inflation and revise down its growth projections when it publishes its latest economic forecasts on Wednesday, but he appeared to rule out a recession in the 27-nation bloc.

'We have seen a significant fall in confidence indicators, which is understandable. Tensions in the financial markets are continuing and the subprime crisis is spreading into other areas of the real economy,' he was quoted as saying.

'But we should not play the part of Cassandra and put the idea of a recession at the heart of the discussion. On the contrary we should try to win back the confidence of economic players,' he added.

'We are not seeing an inflationary spiral, but we have noted the signs,' Almunia told Le Figaro, adding that there had been 'undesirable' increases in labour costs at the end of 2007 and beginning of 2008.

'We need to avoid all type of wage slippage,' he said.

Highlighting the pressures building in Europe, Germany's IG Metall union on Monday recommended a 7 to 8 percent wage rise for 3.6 million engineering workers in a coming pay round.

Almunia said inflation led to recession and added that France was the only country to question the level of European Central Bank rates.

'Honestly, no-one raises this when the (European Union's) 27 finance ministers are together,' he said.

The ECB left interest rates on hold at 4.25 percent last week as central bankers stressed they remained on alert about inflation risks.

(Reporting by Crispian Balmer; Editing by Tomasz Janowski) Keywords: EU ECONOMY/ALMUNIA

Perhaps the reason for the Eur bullish sentiment in the past 30 mins or so

400 pip drop in the last 36 + hours leaves one to think, the market is catching it's breath and consolidating wondering what the hell do we do now. The big boys have had 2 weeks off, needed an adrenaline rush (and got it - btw), now they sit, think and set the next move - be nimble with trigger, but, go with the flow.

SeerEye

My stop got hit, still wouldn't in no way go long.

donno about you guys but i just scalped 20pips off this break up...now waiting for 1.1160 to consider this a true bullish movement

If it falls from here it could touch 1.4000

It was oil what brought it up. Worth looking it very closely today - now it's going down and so is euro but this hurricane thing is making it quite unpredictable.

one thing is clear, a retest of 1.4115 seems likely since it was the breakout point for now....what it does there determines my next move


that or a breakup above 1.4160

If it break 1.416x area.. i might consider long.. otherwise... i will short..

same here....theres 2 main issues to consider...bernanke in 6 hours...and oil which could be affected by ike

also good to consider the freddie/fannie news like mikom said...everyone saying its good and blah blah...i still dont think so...i mean comon their .65 cents each...thats ridiculous...rally today in stock market was way overdone too