EURUSD

Monday's usually suck.

Yesterday was shaping up for it's typical suckage when the pound bulls made a move to the pivot.

Ichimoku system tells that this is ordinary retrace, fundamentals are agains EUR too, and rumors about bailout is just rumors to serve as excuse to take profits or for banks to raise price and catch buyers like SKyzerFX, who believe in EUR pseudo strengh and then to hammer down, because they are interested to sell from higher ground.

looking at a 3801 possibility..

EURO-DOLLAR/OPINION: From MF Global - "Anxieties concerning the
European peripheral debt markets continue to grow. Though the G-7 tried
to convince the market that contagion was not to be feared, the
financial shockwaves that followed such crises as the Asian currency
crisis are not far enough out of memory...The tragedy in the debt
markets continues to be an albatross around the neck of the euro and it
will make it difficult for the currency to rally even if there is a wave
of positive economic data...
MFGR remains in favor of selling rallies in EUR/USD under the Feb 1
low of 1.3853."

Provided by: Market News International

today i can't protect my profit just 9$ humm was that false breakout?

I'am with you

The European Central Bank cannot intervene to help Greece due to its no-bailout clause, and any help from countries would be a political decision, ECB Governing Council member Ewald Nowotny was quoted as saying on Tuesday.
"The ECB have a clear mandate ... we have a clear no-bailout clause," Nowotny said in an interview with FT Alphaville, a blog published by the Financial Times newspaper.
"So the ECB as such cannot intervene. Whether there are some intervention from the side of individual countries, let's say bilateral or some kind of concerted action, this is a political decision," he said. "But it's not, with regards to the ECB."

I mike been following your posts for some time now. Whats your take on the € ? with all this rumor crap...?

[ECB'S NOWOTNY] along with his comments on FX (see 13:30GMT update) has given his opinion on various other topics - with Greece the central theme it appears. Nowotny said the situation surrounding the Hellenic Republic is different to that of Spain, Portugal, stating Greece needs to restore discipline and address its lack of credibility. He also said that bilateral action on Greece by individual countries is a political decision (perhaps flaming rumour of a individual Eur 20 bn bailout?) but stressing categorically there is no ECB bailout clause (also mentioned by Portuguese Fin Min). Staying with ECB's role, Nowotny says the the ECB will have to decide by year-end whether to continue accepting lower quality collateral, though he said the ECB will cooperate with Greece on the use of EU structural funds. Moving off at a tangent, Nowotny said the role of hedge funds should be taken seriously & action should be taken 13:45 GMT - [MOODY'S SAYS DEFAULT RATE FALLS] Moody's reported that the global speculative-grade default rate fell to 12.5% in Jan, down from Dec's revised level of 13%. A year ago, the global default rate stood at only 5.3%. Moody's predicts that the global spec-grade default rate will decline sharply to 3.0% by Jan 2011. In the US, default dropped to 13.6% from Dec's 13.9%, while in Europe default fell to 9.6% from Dec's 10.3%. 13:38 GMT - [PORTUGAL] now doing its bit to deliver a much more ambitious plan to rectify its [FISCAL PROBLEMS], and in the next few weeks according to Fin Min Teixeira. In an interview with an optional wire, he said the plans are to include a reduction in public sector wages, spending entitlements and public investment. Earlier, Portugal also announced a little more on its refinancing programme with the launch of a new Jun 2020 Euro benchmark bond in the offing. Meanwhile, turning to one of the other troubled EMU peripherals, [GREEK PM PAPANDREOU] stressed that the priority lies in rescuing the economy and reducing debt, adding that current conditions rely on a speedy economic acceleration or else there is the risk that the cost of the crisis will be higher. ECB's [LIIKANEN] adds that he trusts the govt will follow through with its plans, and it is crucial for countries to abide the EU Stability Pact.

fighting for what? bulls and bears ...someoone will loose always, the other day the other one for sure


yesssss ..another +15 pips...by short

5 trades +++++ in a row today after bad morning start +++40pips today sounds ok enough

there is the test of 3740 if it breaks through to 3730 before rebound up again to test 3780-3800

eur gonna plunge. very weak now. expect low 37 very soon

it may not get there.. im only gonna short from there. i wont go long for so few pips at this time.

Thanks very good read

I've moved to a strictly chart approach. (Pure Tech Approach)

I can't keep up with the rumors and fundamentals so I don't try.

I wait for the move then take a position after the market tips its hat.

Mike

sweet will take that into consideration

..my gold

Agree, we may have seen short term top at 71 If it breaks it will ,may go to 38 as you rightly say just to sucker in more longs.

30 min charts poised for large move down may just wait a couple hrs foe 1 hr chart to allign.

Nice job so far Gat.

Good day Mr. Hatch ready for pip hunting

moved short entry to 1.3690 just below psych level and belwo tl. tp still the same 1.3550