EURUSD

This is what I said last week too...it's only a matter of time. With the size of these financial institutions(not that I'm against big banks or anything) and the amount of worthless paper floating around. Eventually something will give away completely and they won't be able to "bail them out".

what the f is an sdr currency? can anyone tell me that in detail AND isn't this the perfect time to BUY greek bonds after we (wich i doubt) have a suitable aid plan, i'm going out so just quick questions ..

thanks

It seems like the Euro is about to fall off a cliff. Every bounce attempt gets weaker and weaker. I'm not going to try and play catch the falling knife. I haven't see capitulation or intervention yet and wouldn't go long until either one or both shows up.

I'm just curious what exactly are you smoking.?. Or your charting ability take

you of reality completely? You reading some guys prospects for the Dollar

weakness next week and I agree - EU higher next week. But anyways, GOLD shorts should be on high drugs

anytime to support their case.. I mean do you even notice debt crisis,

which would eventually only going to spread around like a Flu. How this supposed to

be bearish for GOLD..? I'd exactly redo your ERRORS on the charts back to

$1300/oz area for now and then $1500 later in 1-2 years TF..

GOLD will only go higher, possibly to infinite, you have a pen?

Good, write that somewhere and redo your chart please, thanks

Click here... Take your pick...

You're welcome

TLC,

http://cdn.forexfactory.com/attachment.php?attachmentid=417383& d=1266018932

I agree on that view, - nice analysis and chart.

Adding chart for my previous reply on Gold.

Uptrend steal intact with plenty downside room:

we will make a new low eventually but a retrace on monday is possible, the JPY news should come out bad and that will boost eur and aud. 1.3666 is the line in the sand for me.

Agreed....gfc caused problems that will NEVER be solved....we got ourselves into some seriously deep shit....people that are denying this are ignorant to the fact and ive seen some people in here with posts of this nature....theyll get burnt eventually, they all do. Markets weed out those who arent supposed to be there. Its all in darwin- adapt or die, and people that marry trends and cant accept the fact that they will eventually change, those ppl will go away....

I guess it still isn't finished bro...jump on the short train with us.(for awhile) big money don't give a F about news release. they know whats goin on BIG picture worldwide. the numbers don't lie the news does the news is paid most of the time by the big money imo. i'm not saying the dollar is some great currency and everyone go long. But for the last couple of months pretty much you guys have screamed dollar weak! the dollar index has steadily gone up for the last couple months. no way around it, gold has gone done and will probably go down more. gold is worth more yes but it's supply and demand. there are more sellers than buyers(obviously or price wouldn't go down). again this reverts back to when does the big money want to buy gold LONG TERM. how good of a deal can they get...india paid 1050 that says something, they also came out and said it. that really isn't done by a central bank. keep in mind, india don't care if gold drops 50 bucks an ounce or whatever is seems like such a big drop.

Thanks for the comments . I am just trying analysis from only chart and the proposed diamond still not finished ,may be aborted by time . many a times it happened , abort diamond as it were devastating in action always ,into symmetrical triangle & so on . so if diamond envitable then it will validate the bottom first, a small false reaction upto1118 may not prevent it happening .It is all within my capacity in charting & do yourself next, market never follow us or care any but we risk within the limit of ourselves.

Yes gold will back the top & much more for sure till we stop using this useless metal & start use something of real value.
just target 50000$ in next 100 years .
fontu

I thought everyone might find this interesting... Hot off the press it seems:

http://www.dail*****.co.uk/news/wor...uro-crisis.html

The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.
Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc.
The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a 'double-dip' recession in the embattled zone.

Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France - a core founder-member.

In a note to investors, SocGen strategist Albert Edwards said: 'My own view is that there is little "help" that can be offered by the other eurozone nations other than temporary, confidence-giving "sticking plasters" before the ultimate denouement: the break-up of the eurozone.'

He added: 'Any "help" given to Greece merely delays the inevitable break-up of the eurozone.'
The alarming claim came a day after European Union leaders promised 'determined and co-ordinated' action to shore up Greece's tattered public finances, but disappointed traders by failing to provide specifics.
Further details are expected early next week, but markets were in high anxiety yesterday amid fears political divisions among rich eurozone members could derail any rescue.
The euro slid almost 1 per cent to $1.357 yesterday, meaning it has lost 10 per cent of its value since November. The pound rose to 1.14 euros.
Earlier this week Business Secretary Lord Mandelson's claimed that the single currency had been a 'remarkable success' and that it remained in Britain's interests to join.
David Cameron ridiculed that claim yesterday.

He told the Tories' Scottish conference: 'Are this Government the only people in the country who still think that would be a good idea? Our deficit and debt are bad enough without the straightjacket of the euro.
'If I am elected for as long as I am prime minister the United Kingdom will never join the euro.'
The French bank's warning was echoed by Mats Persson, Director of the Open Europe think-tank, which campaigns for reforms in Brussels.
He said: 'The eurozone is facing a fully-fledged crisis. The Greece episode has made it painfully clear how flawed the euro project was from the very beginning.
'Even if Greece receives a one-off bailout it would not solve the real problem, which is the huge differences in competitiveness between the eurozone's richest and poorest members.

'If these differences are to be evened out, the EU would need a single budget and common taxes so it can redistribute resources.
'One thing is clear, Britain made the right choice in staying out.'

Mr Edwards argued that Portugal, Ireland, Greece and Spain are too economically weak to withstand the rigours of eurozone membership.
Countries that are highly uncompetitive are normally able to slash interest rates and devalue their currencies to prop up their economies.
But this is not possible within the euro, given its one-size-fits-all economic governance.
The implication is that weak, peripheral eurozone members will have to suffer years of painful deflation and tumbling living standards, as well as draconian budget cuts, in order to adjust.
Harvard University Professor Martin Feldstein, a long-standing sceptic on the euro, yesterday said the single currency 'isn't working' because member governments have no incentive to keep their public debts under control.
'There's too much incentive for countries to run up big deficits as there's no feedback until a crisis,' he said.

Germany drags EU back towards recession
Axel Weber, President of Germany's Bundesbank, warned the German economy will contract this year
The eurozone faces the danger of a 'doubledip' recession after Germany's economy retreated into stagnation.
Figures published yesterday revealed that the countries who have joined the euro collectively grew a mere 0.1 per cent in the fourth quarter of last year - equal to Britain's own faltering performance.
Germany was the biggest drag, recording zero growth in the final three months of 2009 after emerging from recession earlier in the year.

Axel Weber, President of Germany's Bundesbank, warned this week there is a chance his nation's economy will contract in the first quarter of 2010, in part because of the severe winter, in a major blow to recovery hopes.
The figures from the European Commission are a blow to Britain's embattled manufacturers, which count the eurozone as their biggest export market.
France provided a bright spot in the report, expanding by 0.6 per cent in the fourth quarter-But Italy, Spain and Greece all registered contractions in their gross domestic product.
Economist Martin van Vliet of ING Bank said: 'The paltry pace of fourth quarter growth makes crystal clear that the eurozone economy cannot yet stand on its own feet.

'The disappointing eurozone growth data are a sobering reminder that recovery from financial crisis led recessions tends to be slow and protracted, and might not prove very supportive in calming markets' fears about the region

very well said pal, just remember, markets naturally weed out....not gonna say anything else

Alright, xe.com has the euro back down @ 13 atm. There is a major s/r level daily on the GU @ 5750 also. w/the gu down also atm. I'm still looking for the lower 1.20 area to be honest within the next few months. we may see some huge retraces of course and we may even open going up but i'd say that either 3715ish or 3750ish will be the limit. Lastcokes chart looks good as usual. I still wouldn't be surprised if we immediately head for the bottom of that TL either.

I'm gonna get some good sleep tonight and I'll be up an hour or so before oanda opens tomorrow so I'll talk to u guys tomorrow morning.

DZ

'source'.....

Almost makes me want to go long right now.

But, all this "Bad News", probably means that tomorrow will be a better price.

Thanks , me too expecting more down , may be through more sideways this time . From daily candle wicks next candle should be down but H4 & lower tf charts it still to start going up but may break below friday daily candle high 1.3693 , probable resistant at 1.3634/55/83 & support 1.3451/24 . so will see how it plays monday.
I have pending shorts at all those levels before I see next morning .
fontu

Guys, i have a question...

Are you able to play both direction comfortably or you are just going with trend in one direction?

I mean if you have correctly drawn trendlines, might have fibs on them or seeing some divs aroundbouts, do you short it there and then close and play long with a bounce you are quite sure will occur? (in the start i had big problems, but not much nowadays)

It should not be that hard when you take psychological element away, for every move there will be a counter move...

What broker do you trade futures through?

Thx

Technical analysis is the study of a market’s price data, which is created by the emotions of the participants. Price reflects the current or anticipated value of a market from a supply and demand perspective. Price is the true and absolute reflection of value, as perceived by the various market participants at a particular point in time. In theory but..... you must believe in yourself & develop premonition for future price action based on past movements ...... hopes it helps a bit ; )

Well said ! Every present becoming the past while every present jumps into the future that never reaches. So footings from a firm & solid base in the past jumps over into the space of present, gliding in only a favorable air Without having giddiness, ataxia or even inertia of motion can only reach any affordable ground in one present, future remain uncertain & go on for next.
fontu