EURUSD

Ron Paul

I guess that could have worked, but as screwed up as Bush left us, it would take a nation of Ron Pauls to help us out!

expect some consolidation right now....

I'd Rather hear from Tiger Woods..

Just got this from DJ. I'd like to believe it's true since I have a long going, but...

In the longer term, these developments in Greece could in fact push the euro higher. Hans Redeker, global head of currencies analysis at BNP Paribas in London, said Greek banks could soon be forced to sell overseas assets in an effort to bolster their balance sheets.
"We are seeing a short-term negative effect, but you should not give up on the euro too early, because of the potential for euro-supportive repatriation flows," he said.

I need some bulls. I am stuck in the worst trade. Can't decide to cut my losses and start over. Lesson learned or stick it out. Right now the euro is less volitile because people are scared of the euro. I am. I think its usd/euro is turning into a wasteland compared to what it use to be.

Tigers woods wife just bought a 2 million dollar home somewhere back in her homeland of sweden. ahahha.

I had a great nap....Here are the my next two major supports on this chart where I believe buyers will be,any buying before these levels will most likely be a scalp, however I will not be long....we just breached the 75sma....look at the support it has provided in the past....be careful longs.

long eu trg 48 4h

Euro Set for ‘Long-Term’ Drop to 2008 Low: Technical Analysis

By Candice Zachariahs

Dec. 8 (Bloomberg) -- The euro may have a “long-term, multi-month” drop toward its 2008 low, falling below support at $1.4625, BNP Paribas SA said, citing trading patterns.
The single currency declined 1.3 percent on Dec. 4, the most since June 15, triggering a break of the currency’s uptrend in March, Andrew Chaveriat, a technical analyst at BNP Paribas in New York, wrote in a research note yesterday.
“Euro-dollar is in position to have completed its March rally,” he wrote. A drop below $1.4625 “would confirm a major top is in place and that euro-dollar is at the early stages of a long-term, multi-month decline potentially re- testing or breaking the $1.2330 October 2008 cycle low.”
A decline through $1.4625, near the November low, would confirm a top at $1.5144, which the euro touched Nov. 25, the bank said. That level is also near the 76.4 percent Fibonacci retracement of the euro’s fall from its all-time high of $1.6038 in July 2008 to $1.2330 in October of last year.
The euro, which has gained 6.2 percent against the dollar this year and 17 percent since March, traded at $1.4840 as of 9:34 a.m. in Tokyo from $1.4827 in New York.
Support levels are areas on a chart where orders to buy a currency versus a counterpart may be clustered, and a break through those levels typically signals further declines.
Fibonacci charts are based on the theory that securities tend to rise or fall by specific percentages after reaching a new high or low.
In technical analysis, investors and analysts study charts of trading patterns and prices to forecast changes in a security, commodity, currency or index.

http://www.bloomberg.com/apps/news?p...d=aVshfq5g0lYo

If the monthly support gets broken there will be some serious downside. I doubt the monthly support 4745 will be breached this month. The last time it touched the monthly was back in january.

Interesting read http://trading-u.com/blog/index.php/archives/1277

The one to watch this week is 4625:

weekly of 10/25 touched and formed it.

I know its against the intr-day trend.....but I am thinking LONG.....due to 3 attempts to break the 4721/17 area, Bullish DIV on RSI, we are at ATR for the day.....and CHF has been rejected at the 1.0262 level so far.....

Guess I will watch!

Hmmmm.....call me an idiot!

has been following downward trend line since 2 30 on the 5m. from 5pm GMT a more severe downward trend line has dictated its descent... if this gets properly broken on a 5m TF ill look long

_

Down End.

Go to 49xx
I think Bull time.

Looking at the Daily and the weekly I see a clearly defined trade channel. 4625 support, 5140 resistance. My believe, as early as it is in the month, Professional money loading up on longs to do another shot at and through the 5140 area. My target, 5400. I'm going to play a Merideth and make that end of the year prediction.

Good one! I like the train anaology!

Exactly......but if I board the wrong one.....it will take me way out of my way!!! And, I may not have enough money to make it back to where I started!

I think Volume is diminishing too for the SHorts for the day....but we could still push a little LOWER....I don't think its a free fall to 4625....yet.....

IMO

gbp attempting to cross daily 200 ema. rejected thus far. IF theres 400 pips below plus