EURUSD

IMF heads to Greece today - Bloomberg

can hear the sound of crickets huh

Shh you'll wake people up. Morning all.

07 April 2010
FX Tech Levels for April 7

John J. Hardy, FX Consultant, Saxo Bank
Here is a new publication we are working on that could be of interest for daily and weekly support and resistance levels. It contains standard and proprietary pivot levels for 20 G-10 FX pairs as well as other information. We'll be developing this publication further in the future, so stay tuned.

Investors have had little reason to discriminate between the euro and sterling so far this year: both have performed equally poorly against the dollar and are down around 6.3%. But the long-heralded U.K. election, finally confirmed Tuesday for May 6, may change the picture - although perhaps not in sterling's favor.

Similar woes have bogged down both currencies: concerns over the ability to rein in surging deficits, worries over sovereign credit quality, and a limp economic recovery. Fears of a hung parliament in the U.K. coming out of the election have been matched by doubts about the ability of the euro-zone to contain the Greek debt crisis.
Clearly, opinion polls will drive trading during Britain's four-week election campaign. The latest readings suggest a hung parliament can yet be avoided, and Nomura forecasts a 60% probability of a Conservative win. A decisive outcome should remove some risk premium and allow sterling to bounce initially.
But political clarity will simply allow markets to focus on the fiscal task facing the new government: how to reduce the deficit from 11.8% of GDP this year. Credit ratings agencies are holding fire on the U.K.'s triple-A rating, but have indicated that the current deficit targets aren't quite ambitious enough.
In contrast, and despite a flare-up in Greek debt fears Tuesday, much of the deficit debate is done and dusted in Europe: Ireland, Spain and Greece are implementing cuts. After key bond redemptions pass in May, the Greek crisis may recede. Adjustments to euro-zone portfolios may focus more on geographic redistribution within the currency bloc: witness the low yields of German Bunds, which have been a beneficiary of the turmoil in Greece. Sterling, by contrast, could be more vulnerable to shifts in investor sentiment, in particular if foreign bondholders remain concerned about the fate of the triple-A rating.
Even strong tightening of fiscal policy in the U.K. will hurt, weighing on the economy and keeping monetary policy very loose, with some even talking of a possible resumption of quantitative easing. All of these factors would hit sterling. Bears believe the pound could fall a fair way from here: BNP Paribas forecasts sterling at $1.31 and the euro at GBP0.97 by year-end, versus $1.52 and GBP0.88 now. In the long-run, this could set the stage for sterling strength next year: if the U.K. can address its fiscal problems, it may end up a step ahead of the U.S., where deficit reduction isn't a near-term priority, and the euro-zone, where the Greek crisis has led to a fudged rescue deal that may yet unravel in the face of future tests. But first sterling seems likely to take the pain as the U.K. economy tries to rebalance.

short cut & long cut both possible , risky pa & risky shorts as well in a bear market ,taking care .
Common areas of the ranging seems 1.3349 to 1.3461.
fontu

pls gator, how do i get usdx on meta4 platform? is there any broker that offers it?

Does it look like head and shoulders?

seat belts on and tray tables up

Think so at the very bottom & so it may go validate the previous low.
fontu

Hi guys, I'm looking at the hourly chart which appears to be attempting a MacD pos divergence at around 13340 area which will also give a very nice 1,2,3 daily base. Currently short from 13392 and will place buy limit at 13342. Good luck everyone & many pips..

.

not understanding gold.. stuck with shorts.. fml!

hey mate just received a pm from you but cant answer as you dont allow in coming pm.
T.Cat

neither do I but 1144 is next s/r maybe it'll stop there and come back down again. Looks very hard to stick with short as up trend on 1hr chart.

yeah i am hoping for a reversal coz i think 40 might be rejected!

FX: Option expiries for today's 1400GMT cut,
* Euro-dollar; $1.3300, $1.3350, $1.3380, $1.3400, $1.3445
* Dollar-yen; Y93.00, Y93.75, Y94.40, Y94.55
* Euro-yen; Y125.00
* Cable; $1.5250, $1.4900
* Aussie; $0.9200
* Aussie-Kiwi; NZ$1.3000

Provided by: Market News International

otherwise hedge mate it will come back down eventually

s

Is 1.3350 significant?