EURUSD

Expecting this dragon to show its tail into OE tomorrow maybe a push into 1.385+ get every retail trader loaded long & smack it right down next week

It happens...

http://www.petersoninstitute.org/pub.../13iie3519.pdf

Who would want to lend money to Greece? Not me. But they may have to if it is the only way to save the euro.

to be honest I would if they pay me 15%p.a. no worries and this is somehow backed by EU 100% I will lend them money.

maybe not.. there will be lots of healthcare talk with weekend vote. . plus we may have double tops on markets. quad witchy.... cpi... employment. may not even get market up with good news.. hey but we take what it gives.

Not me either. I'm biased EUR and hoping the EU does anything they can to keep the EUR moving upwards. I've been on the side of Germany since the beginning of Greece's money matter.

Under those circumstances I would too but isn't the problem that Greece can't afford the punitive rates they are currently being charged AND reduce their GDP?

It's interesting to see how most retraces from the main downtrend are practically equal.

They will lend, because they are in the same ship...One for All, All for One...If not Titanic II will seen...

If PA goes above the second lower TL on the next candlestick, I am buying.

So far, the stoch has been pretty spot on for my intraday trading.

Another reason is the hammer.

if thats the case maybe you want eu to go lower. so germany can sell products. euro going lower is not a bad thing for ez.

The price is in bullish wedge. Normally in a bearish trend these breaking down.

But I follow thinking that there are many posibilities breaking up.

Better wait to see where breaking up or down.

http://img651.imageshack.us/img651/7770/dibujojy.png

well.. doesnt look like the bullish hammer is holding. my shorts at +20pips moving to BE+5. if it breaks the previous 4hr hammer bar low, im gona add on my positions. not a good climate to long E/u if u have read the news today.

It's about time that guy grew some balls and fessed up to his, and his governemts mis-management of their economy. He's big on blaming 'speculators' and just about everyone else.....but a good hard look in his bathroom mirror will reveal the real culprit......

Very true and I do expect EUR to go lower, as EUR and USD are currently in a standoff/standstill. My bias in the EUR is based on my analytics of the longterm European market (currencies included).

that short last night played out just great.

i am long now expecting price to travel along the upward channel up to 1385.

u don't seem very convinced of longing the EU, though?

hapipipin

Yep. That the reason why I prefer to wait for the next candle to close for confirmation. I am neither bull or bear at the moment. Just pure technical.

I have already closed my short @ 3680. I prefer the slow and steady approach. Let the pattern come to you.

GL.

that was quick 11 pip

Stiglitz, Sakakibara Say U.S. Wants Weak Dollar to Spur Growth

March 18 (Bloomberg) -- The U.S. wants a weaker currency to support its exporters, a possible departure from its “strong” dollar mantra, Nobel laureate Joseph Stiglitz and Japan’s former top currency official Eisuke Sakakibara said.
There is a “contradiction between national interest and global, international interest here,” Stiglitz said at a forum in Tokyo today. “Right now, it’s not in the interest of the U.S. to have a strong dollar. We want a weak dollar and we want exports.”
American officials have advocated that a strong dollar is in the national interest and defended the stance because of its status as a key global currency. Even so, a weaker greenback would bolster an economy where exports contributed more to growth in the past two years than any time since the 1940s.
“If you are secretary of Treasury, you have to make a speech about believing in a strong dollar, but you know that no one believes you,” Stiglitz said.
The dollar and yen gained today as demand revived for safer assets on doubts over a possible rescue plan for Greece and concern China is taking steps to quell speculation. The dollar advanced to $1.3677 per euro from $1.3738 at 9:34 a.m. in London. The U.S. currency traded at 90.04 yen from 90.31 yen.
Net exports have added more than 1 percentage point to U.S. gross domestic product the past two years, the first time that’s happened since 1946-47, Commerce Department data show.
Policy Shift
“The U.S. seems to have shifted from a strong-dollar policy to a weak-dollar policy,” said Sakakibara, who was Japan’s chief currency diplomat until 1999. “This combined with a weak euro has resulted in the appreciation of Asian currencies such as the Indian rupee, Thai baht and Malaysian ringgit and resulted in pressure to appreciate the Chinese renminbi.”
At the same time Sakakibara, speaking at the same venue as Stiglitz, said the dollar is likely to remain the world’s preferred reserve currency because there are no alternatives in the foreseeable future. That opinion was echoed at the forum by current Finance Ministry official Takehiko Nakao.
Nakao, director-general of the ministry’s international affairs department, said “it’s very difficult to find an alternative” to the dollar as the dominant currency and Japan should support its status.
“It’s realistic for nations and regions to make efforts to strengthen the stability of the international financial system, which is premised on the U.S. dollar as the key currency,” Nakao said.
Gap With China
His comments highlight the gap between Japan and China, whose central bank governor last year proposed a “super- sovereign reserve currency” disconnected from any individual nation. The dollar remains the dominant currency in global foreign-exchange holdings, while its share has dropped to an estimated 61.6 percent from 72.7 percent in 2001, according to the International Monetary Fund.
Stiglitz said yesterday the world needs an alternative to the U.S. dollar-based reserve system, saying it is inequitable for developing economies and encourages countries to hoard cash that could otherwise be spent. He said today that he is growing confident that the U.S. dollar will depreciate.
People’s Bank of China Governor Zhou Xiaochuan last year said the IMF’s special drawing rights offer “light in the tunnel for the reform of the international monetary system.” SDRs are a unit of account, based on a basket of currencies, used in IMF transactions.
Stanford University professor John Taylor, speaking at a separate event in Tokyo today, said the yen is likely to weaken as the Bank of Japan pursues monetary easing for longer than its counterparts. Taylor, a former U.S. Treasury official, said the Japanese central bank’s decision yesterday to double a lending program to 20 trillion yen ($222 billion) was “positive,” adding that he expects further easing.
To contact the reporter on this story: Toru Fujioka in Tokyo at [email protected]