EURUSD

I hope Malc is the blonde....http://fasterthantheworld.com/catfight.jpg

http://www.bloomberg.com/apps/news?p...fdm5rWdY&pos=1

China to nullify guarantees on muni and local govt debt. Reaction depends on who is holding the most of it. GS probably underwrote and sold it to unknowing pension funds all over the world, rating agencies will have to downgrade it to junk now and there will be few more ugly looking quarterly letters coming up somewhere.

pretty nice run up out of the gate... I'm waiting to throw in my short soon.

[quote=gatorinla;3526705]im paying attention to the weekly candles. the possible rounded bottom. ect. its clearly there. its got bull written all over it. but there are other things also to consider. a tl in the 3635 area. 3644 on chart. the little circles on the tl.. and the failure (to re-reach the last touch of purple tl l blue circle) 3644 3737 and 379X..

One of your numbers - 3644 is being tested: Do you feel that 3737 & 3790 both need to be tested before a new low?

Tia for you views.

morning /evening everyone...

I'm in 100% agreement on all counts.

[quote=StoneSoup;3528978] no...but malcs volume analysis is putting pressure on it. if numbers work 3644 will show resistance. if broken 36905 would be another. and 3737 may get tested again.. it would be ok with me if 3737 would not be tested and 3718 was..and held better yet 3644 rejects it. i just sell a little on the way up.. and bigger lots if it comes down.

China Signals Defiance On US Relations
By ANDREW BATSON, TERENCE POON AND SHAI OSTER
Of THE WALL STREET JOURNAL ASIA


BEIJING -- China offered its first real sign of flexibility in years over the exchange rate of its currency, a growing source of friction with the U.S., but gave little hope that it would accommodate Washington on Iran and other thorny foreign-policy issues.
Central bank Gov. Zhou Xiaochuan said China will eventually move away from its current exchange-rate policies, which he described as a temporary response to the global financial crisis, but played down the idea that a move could come in the near future.
Mr. Zhou's comments Saturday at a news conference during the annual session of China's legislature, the National People's Congress, could fuel optimism in the U.S. and other countries upset over China's currency policy that Beijing may start letting the yuan appreciate, although not as quickly as many foreign governments desire. Critics complain that the yuan's suppressed value makes China's exports unfairly inexpensive, disadvantaging other countries.
China's foreign minister sounded a defiant note on other sensitive issues with the U.S. in a separate briefing Sunday. Yang Jiechi told reporters it is up to the U.S. to mend frayed relations, which he said had been hurt by American arms sales to Taiwan and by President Barack Obama's meeting with exiled Tibetan spiritual leader the Dalai Lama. "The responsibility for the difficulties in China-U.S. relations does not lie with China," the foreign minister said.
Mr. Yang reiterated China's opposition to sanctions on Iran over its nuclear program, despite intensifying efforts by the Obama administration to win Beijing's support. Last week, the White House sent two senior China hands, Deputy Secretary of State James Steinberg and the National Security Council's Asia director, Jeffrey Bader, to Beijing to discuss Iran. Israel also sent a high-level delegation late last month, led by its strategic affairs minister, Moshe Yaalon, and its central bank chief, Stanley Fischer, to seek Chinese backing for stronger sanctions against Iran.
On Sunday, Mr. Yang repeated Beijing's longstanding position that "pressure and sanctions can't solve the fundamental problem," and again urged continued diplomacy with Tehran. "We don't think diplomatic efforts have been exhausted," he said.
Mr. Zhou's comments on the currency Saturday were the most direct suggestion to date by a Chinese official that the yuan's current de facto peg to the dollar won't be maintained indefinitely. Previously, government officials have stressed currency stability without much qualification, and have rejected foreign pressure to allow the yuan to strengthen.
Mr. Zhou said the current policy -- which has kept the yuan's value basically unchanged against the dollar since July 2008 -- was a "special measure" adopted in unusual circumstances. "This is a part of our package of policies for dealing with the global financial crisis," he said. "These kinds of policies sooner or later will be withdrawn."
Economists and currency-market participants increasingly expect that China will at some point this year allow its currency, which is formally known as the renminbi, to rise against the U.S. dollar. Inflation in China is picking up as the economy recovers, a problem many economists say a stronger currency could address.
Trade frictions are also on the rise. The currency peg has helped the country's exporters take advantage of the recent recovery in world trade, but has drawn increasing criticism from the U.S. and Europe as well as China's Asian neighbors. For those critical of Chinese currency policy, Mr. Zhou's indication that he is considering an exit from the peg was welcome.
"It is encouraging that Gov. Zhou's statement suggests that the move to a managed float of the renminbi will be resumed once the global recovery firms up," said Eswar Prasad, a professor at Cornell University who previously headed the International Monetary Fund's China desk. "Maintaining an undervalued exchange rate certainly benefits China, but at the expense of other countries that lose their relative competitiveness in foreign trade."
Mr. Zhou's remarks don't necessarily mean a change in the currency is imminent. China's Ministry of Commerce has stressed the need to continue present policy, especially as the recovery in the export sector remains fragile. On Friday, Premier Wen Jiabao reaffirmed that China will continue to keep the yuan "basically stable" -- though that language is vague enough to allow the leadership some flexibility. Mr. Zhou himself said prospects will depend on how the global economy evolves.
"If we are to withdraw from unconventional policies and return to conventional economic policies, we need to choose the time very carefully. This includes the exchange-rate policy for the renminbi," Mr. Zhou said. "The G-20 Pittsburgh summit also particularly pointed out the need to avoid the premature withdrawal of stimulus policies."
In addition to assessing the uncertain global economic outlook, Beijing also has to decide the tricky issue of exactly how to lift the current peg to the dollar. A gradual strengthening of the yuan would be easier on exporters but would attract foreign funds seeking to profit from further appreciation. A one-off revaluation, on the other hand, could stem such inflows but would hit exporters hard.
The political climate abroad is becoming less and less receptive to such nuances. Mr. Obama told Democratic senators earlier this year that he will "get much tougher" with China on trade issues, including the currency. The U.S. Treasury in April also faces its annual decision on whether to formally label China a "currency manipulator."
Chinese officials have long bristled at outside criticism of the currency, and Mr. Zhou said he is opposed to what he called "politicizing" exchange-rate policy. But he indicated a willingness to address currency issues in the context of the Group of 20 nations' discussions on maintaining balanced global economic growth.
And Mr. Zhou emphasized that China's exchange-rate policies aren't set in stone for the long term, because they need to adapt to changes over time in the structure of the Chinese economy. "The exchange-rate mechanism and the price of the renminbi are in a dynamic process of continuous change," he said. "So they will differ in different periods."

Gator,

We got the rejection at 3644...but is that enough of a rejection?

if u look at all pairs even gold , all have the same bounce candle , lol

I like this a false rejection

[quote=StoneSoup;3528978] if 3644 holds. we will see 3564 at least st...if 3644 holds this number will change.. waiting for a target now 3605 may be a mid..uncomfirmed... 3605 respect will help with determining direction south or not. so far so good .. should know soon

nor have I ... I have been buying dips off 1.3500 clearly stated in post 3 weeks ago .

and it is dumb dumb ...not dun dun ... now you are the dumb dumb . Learn to translate what you want to say 1st before you say it. At least be that smart if you are going to try putting someone down. All i see from all of your posts is putting others down , forexlion , me and others (yes I cannot believe I spent the 5 min going thru your posts to see they were a waste of time).

If you are that good posts some f...ing charts otherwise shut the f up (sorry but pissed off with complete muppets trying to put me down when with 75% draw down on accounts they clearly have no clue what they are doing .. may as well flip a coin ... today i am going long tomorrow short, does not matter as I am not a real trader as I have zero money mangement. ). If you tell me what your language is I will loosely translate that for you on google translator.

This may help you ...http://translate.google.com/#

I'm looking for a retest of 3644.....

If it breaks...Im LONG for short period.....if it breaks 3616...I'm Short....and maybe only for a Short time as well......

i think that gold is going to be the market mover this week,a deep drop ... then euro will go down with it ...

The charts indicate that and I agree 100%. However, will there be manipulation? Who knows?.............

[quote=gatorinla;3529020] confirmed, that pair wants to go there. but we have to get past 3622.. gu wants 5015. 3605 respect will be a deciding fact to me adding more shorts. this is baby move..moves usually follow each other we rarely get a single. the gu looks like the better short.

I cant make a decision on eu ATM. Not sure how it turns out- but I shorted Euro Gbp for a 50 pip stop and limit.