EURUSD

Moving to BE and breaking out the cigars

okay T-CAT - in addition to the views of SAXO I have got the following text for the same pair:


Current fall is near an end of wave around 1.3355 zone, a rally should then procede towards 1.3408 or above 1.3433 - 1.3460. Unexpected break of below 1.3318 would cancel this scenario.

bibib

Valid until next Rollover close / Rollover open


bibib

nice nice
but I wont do counter trend, should it really get up to 3440 I have alert there and tl so may be some good pips on the way up there, but not for my trading plan. Back to train my patience....

QUESTION to the more experienced around here:

The daily pivots and S1 R2 S2 etc etc from today... my daily candle finishes at 10pm (im UK), and a new set of prices are put out (i get mine from actionforex)...

to what extent do you find 'yesterdays' one still relevant for the next days price action? do you note the ones that price has bounced off etc?

cool.

why woundnt it be

Yes my dear - I aggree with you in this case - "sell the rallies" seems to be the Parole for us for now. Much more easy to trade / handle - at the current stage.

So let's wait how far it will go up there at first.

I think 1.3416 - which was second daily support - now changed as beeing a certain resistance there - would be the key for now.

Dont think anybody outside this forum really believed in an interest hike today. only question was whether they still keep the word "extended"...with respect to that they made a clarification which is neither USD bearish nor bullish from my point of view...
if € is not going to break through 1,34 in the next minutes downtrend should go on.

It took many hours to go below 1.34. Hard job to go above now. If it makes it beyound it shows more short term upward potential. 3455 short around is my first entry target then. If nothing pops up to reconsider. Reason: It's at the short trendline in a couple of hours then, but still an underlying weak sentiment. We'll see ...

Nothing special up may happen ,1.3426 to 53 max perhaps. will see next day to join the bear again.
trade well.
fontu

.3430 within the hour.

That's not a trick,,,,,, if you want to see a trick----- ask Gator to pull a rabbit out of his a$$. Its one of his best tricks.

i havent seen any rabbits in a while. then again im not looking hard.

I agree on that one, but only on that one. Europe has the same problem, though.

I guess Greece is almost priced in now, by the way. But that alone is no reason to jump beyond any hard tl written in stone right now.

What we see right now is a burst of a euro hype bubble. The needle was called Greece, but the ballon has still too much air in it. Hot air. Plus if any other country from the piigs comes as next needle, the air will come off even faster. Just watch!

Talking about debt: The funny thing if I read people talking about debt, they almost never talk bout assets. Are there no assets in the US? If you compare the assets of the US to the assets of Europe, economy wise, what do you believe which economy has more assets and what assets? Then if you start comparing the tax rates which directly lead to inflation, what do you guess which area has a better standing mid to long term?

There is probably 100$ (Maybe more)

for each 1 EUR other there, now you can compare.

Amount of money in Dollars is enormous compare to any currency.

And nothing behind it, just reputation of Fed and US Army, which eventually can go broke as well.

Report: Panicky Investors Pull Cash Out of Greek Banks


Tuesday, 06 Apr 2010 11:21 AM
Article Font Size http://www.forexfactory.com/App_Them...mages/plus.jpg http://www.forexfactory.com/App_Them...ages/minus.jpg



Greek banks are being hit by a wave of redemptions as rich citizens and companies look to move their money to big global banks or offshore as the country's debt crisis rages, the Telegraph newspaper reported on its Web site.

The report appeared to contradict recent data from the European Central Bank and comments to Reuters by analysts and Greek banking sources, who said there was no clear evidence of a major, extended deposit outflow from Greek banks.

The U.K. newspaper said late on Monday that big depositors have been clamoring to move their cash to international financial firms such as HSBC or France's Societe Generale, which operate large branches in the country.

They are among those to have received several billion euros of new money, it said without specifying sources.

HSBC's private banking in the country was understood to have been flooded with business, while the local operations of several other major international banks have already seen large inflows of money.

A spokesman for HSBC declined to comment, the newspaper said.

More than 3 billion euros ($4.05 billion) of deposits held by Greek households and companies left the country in February, while in January about 5 billion euros of deposits were moved out, the Telegraph quoted figures from Bank of Greece as showing.

Switzerland, the United Kingdom and Cyprus have been the largest recipients of the money, with the wealthiest Greeks looking to move their deposits to Swiss banks accounts to escape the more punitive tax measures many fear will be introduced in the wake of the country's economic crisis, the newspaper said.

However, latest ECB data showed no clear trend for deposit flows out of Greek banks.

Deposits at monetary financial institutions in Greece, denominated in all currencies and excluding the Eurosystem reporting sector, rose to 362.3 billion euros in February, the highest level since records began in March 1998, from 353.1 billion euros in January, the data showed.

Large monthly fluctuations in deposits are common; deposits fell by nearly 10 billion euros between June and July last year.

Commercial bankers and analysts told Reuters in February that while there was speculation in markets and wealth management circles about capital flows from Greece, they had not seen a big, extended outflow on a net basis.

Concern about the banking system's health or the risk of Greece leaving the euro did not seem serious enough to prompt such an outflow, they said.

National data for Greek commercial bank deposits in February was not yet available on Bank of Greece's website on Tuesday.

Greek bank stocks were down 1.9 percent on Tuesday morning, having dropped 15.4 percent so far this year.

That compared to a 0.4 percent rise for European bank stocks in general on Tuesday, and a 2.9 percent gain so far in 2010.

2010 Reuters. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.

I doubt that this is real liquidity. Maybe some guys from China like to store that in their bunkers.

Plus I asked for assets. Fiat money is no asset. Just a paper promise of always cheating politicians (most of them). If you compare the real assets like precious metals, commodities to dig for, blue prints of technology, freedom, common language, etc. pp. what do you guess who has more assets?

If it comes to the value of this paper promise I also regard to my posting 1 in this thread. Right now you can drive 2-3 times farther with a buck in the us than with a euro in Europe. I call it artificial divergence.

All paper money will go to the value 0 sooner or later, but I bet a pip that the euro is faster heading this target than the buck. Opinion wise.

This is my first post on this forum so: a warm hello to everybody!
I've been watching your discussion with great interest (though catching up with all the posts form the previous days is rather hard )

@fontu
you've posted a screenshot of ABC Elliot Waves (with C being hipothetic). This might be a newb question, but where does your 1-5 downward impulse wave start? At the December highs?

Best regards

*fake surprised look*
damn!!!! im so surprised..