EURUSD

I may seem like an arrogant asshole sometimes, but I still know who, and when to give respect due!

sorry if I'm asking a stupid question, but could someone explain WHAT EXACTLY HAPPENED HERE!?

4HR chart was showing many spikes and indecision meaning downtrend, 1hr chart had its pullback, also meaning downtrend.

Now what exactly happened here?

Didnt intend to but I left a short open on Fri with Sl 13450 ish I guess Ill see if my broker honors my SL over the weekend never had that happen before.

MIC

curent price 1.3489

Let's wait for Goldman's recommendation...!

believe your broker will honor it until he opens?

@Malcolmb

Let me share my experience on price action.

If last Friday's resolution was indeed "problem solved" we would already be staring at 300-500 pip up spike. Because we are up some from the lows suggests that their resolution failed to stop down trend.

Just finish my weekly analysis , try cover all apprehensions & may not satisfy all but stick to my own plan , all old " sell from any top " un changed> either loss 50% all gain last week or profit 200% again.
fontu .

http://www.forexfactory.com/showpost...0&postcount=60

Let's see, above posted 47 hours ago at US close... and look were we are...yeah lots can change in next few hrs and yes gaps like to close but still...sometimes gaps will takes DAYS to close for the week - hee.

Will cash some in, will keep some.

(And if you have to ask what happened, well I've been warning since monthly pivots mid-week for a swing long!)

eurusd 1.3483/88 (0.73%) H 1.3525 L 1.34

gbpusd 1.4955

weekly suggests up move this week ...

large volumes on a low spread down .

Lets see how 1.3500 holds up in London

I know you think volumes in fx are a waste of time , but i happen to believe in them

I see bears are getting hammered in here .. ' what happened ' all over place. This is no surprise.


perfect vsa set up and rounded bottom 4 hour .. not to be ignored

I am looking for a. 13450 to hold in London and a break out of 1.3500 is a break out of the daily channel , if this is case then I guess 1.3650 1st target.

I remain short (for now).

By FABIO ALVES

The euro-zone deal on a safety net for Greece Helped two calm investors' worst fears, but the euro's woes are not over.

Euro-zone members agreed Thursday two provide back stop loans for Greece in conjunction with the International Monetary Fund. News of the accord Helped to set off a relief rally for the euro, yet the common currency is still down 6.8% against the U.S. dollar this year. Friday, the euro was at $ 1.3415 from $ 1.3282 late Thursday.

The euro was also trading up against Japan's currency, at 123.96 yen from 123.14 yen, while the U.S. dollar was at 92.53 yen from 92.71 yen. The dollar was buying 1.0669 Swis francs, from 1.0739 francs, and the British pound was at $ 1.4888 from $ 1.4817.

Thursday's "agreement has bought the euro sometime but nothing more," said Michael Hewson, a Currency Strategist at CMC Markets in London. He and others said they still expect the common currency two fall toward $ 1.30 in the coming months.

This week, Greece is expected two losses, the public debt markets-the first test of whether the back stop will be sufficient two lower the rates the highly indebted country has to pay.

The key issue is the need for the Greek government two reduce its Borrowing costs in order two cut its ballooning budget deficit. Investors demand yields around 6.24% on Greece's 10-year bonds, nearly twice as high as the yield on the euro zone's benchmark Germanwings bond that 3.16%. After selling 10 - and five-year bond issues this year, Greece's next deal is expected to be either three-year or a seven-year issue, more likely the latter.

Greece has to meet € 11 trillion ($ 14.6 billion) in debt-servicing obligations in April, according to data from the Greek Public Debt Management Agency PDMA. In May, a further € 11.646 trillion will be due.

"If the market does not respond well to Greek issuance, this would increase the risk of contagion two Portugal and suggest that one of these countries may have to resort to the new mechanism for funding," said Jane Foley, director of currency research at Forex.com in London.

One factor working in Greece's favor: The European Central Bank will continue to accept the country's debt as collateral, albeit with a higher discount, even if Greece were two lose its A-minus ranking from Moody's Investors Service.

But access to the public-debt markets is just one of the hurdles the Weak euro-zone countries and the common currency face.

As Germany pressures other euro-zone members two reduce their fiscal gaps, economic growth will be the next problem weighing on the common currency, said Sebastien Galya, a Currency Strategist at PNB Paribas in New York.

"Given the strong deflationary pressure built into this EU agreement ... it suggests that the euro will head in the direction of $ 1.31," he said. That level could be reached by the end of [this] week, he added.

With Europe's economic growth probably lagging that of the U.S., gains in U.S. nonfarm payroll numbers for March, due out Friday morning, will fuel expectation that the Federal Reserve will tighten monetary policy ahead of the European Central Bank. That will boost demand for the U.S. dollar and add to the selling pressure on the euro.

Economists expect the U.S. payroll report to show solid jobs growth, with some forecasts ranging up to 300,000 jobs added. Ms. Foley noted that February payroll were surprisingly robust, and that March's figures should be Boosted by temporary hiring for the U.S. census.

The March payroll report "may have a lot of sway in when the Fed drops the 'extended period' line 'from the statement that accompanies its interest-rate decisions, she said.

Despite intense debate in the market, the Fed has so far shown little urgency in removing that phrase.

In testimony two Congress on Thursday, Fed Chairman Ben Bernanke said record-low interest rates are still needed to support the U.S. economy, as the "employment situation is very weak," but the central bank has to be ready to tighten credit to prevent inflation.

Source:http://online.wsj.com/article/SB1000...googlenews_wsj

I think we get to 1.3500 area but then we good down a little.

Yep, I'll be selling the tops as well.....once the ego back patting from Trichet and co dies away, and they realise that nothing has changed, the trend will continue......the EZ leaders haven't changed anything....the depth of shit they are in is still as deep as it was before!!

hi mate yes Friday was good all happened as expected sorry for not posting I went to the pub and took the rest of the day off.

Remember dj 6500 .... end of the us all banks fail and worst recession ever , run on banks etc etc etc ?

Well here we are dj 10800 and climbing , very small pull backs on weekly

Now to euro , euro zone to fail blah blah blah....sounds like US markets at dj 6500.

Pros buy weakness sell strength ... here is monthly .

ALL that volume for a 600 pip move down ? .... just seems odd ...highest volume in years all all we got is 600 pip in 2 months.

Now we are above major support 1.3450 buy dips for me again. weekly range is about 350 pip , assuming last weeks close was this weeks low we see 1.3750 this week ?

as said earlier just got to see what London does

malcolm, are you saying 1.27 area is not gonna happen any time soon?

Good day everyone
May we have have a good and prosper week..
Dean


Welcome feedback on this article I have my own thoughts..
http://www.businessinsider.com/simil...e-poker-2010-3

You're right, we will have to see how London handles this......can't read too much into it for the anzac & asian sessions....

I think you are jumping the gun by starting to buy dips, down trend is still intact. Have a look how down trend stopped in DJ that you mention, can hardly be compared to thus Euro action. But you say that it will happen, oh well, I don't have a crystal ball.

Other than last week I was buying dips to 1.3500.... worked awesome and 1,3450 has been major s/r level for about 2 months now....

Just got to see what this week gives us.

Last weeks close 1.3400. Right now we are above that , would love to see test 1.3440 ish to see how that holds.

I am not ab uy and hold kind of guy , but try and determine trend for week and trade intraday with that.

In regards to crystal ball .. no comment as you do not believe in volumes but they tell us everything we need to know ... even in fx.