EURUSD

[ECB'S TRICHET] reiterates that Greece's bankruptcy is not an issue that is in question; and that it is not possible to enter and leave the Eurozone as if getting on and off a bus. Quoted in a report over Reuters, Trichet adds that Italy is absolutely not in the same situation as Greece and has been able to contain its public deficit, showing resistance in a difficult period. Unlike yest, Trichet's comments are not providing any solid backstop to the Euro's underlying weak sentiment, with the [EUR/USD] a touch easier at a session low of 1.3341.

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I see H4 chart , not to ignore this too,may turn upside from 28 easily with frankfurt & london open .and so lust for more pips may ultimately a big loss , scalping few for only few pips each time.
fontu

LONDON (Dow Jones)--The increasingly ugly Greek funding crisis isn't just rumbling the euro; it could be on the brink of shaking up the global currency market much more broadly.

Already, currencies that are seen as safe bets in the riskiest of times are rising--a classic sign of general market stress.
Now, fears are building that on the flip side, the currencies of Central and Eastern Europe could start tumbling. It all looks very much like a shift back to the skittish, sentiment-driven trading that dominated the darkest days of the financial markets crisis and its aftermath.
"I would be more optimistic [on Eastern Europe] if we had not had a good run in these markets," said Nigel Rendell, a currencies analyst at The Royal Bank of Canada Capital Markets in London.
"But we are back to the sorts of levels on these countries' bonds that we saw before Lehman Brothers collapsed. With the nervousness that has crept into the markets now, many people might be tempted to take profits," he said.
As a result, caution is warranted on all of Eastern Europe's currencies right now, Rendell said.
Indeed, the Polish zloty has slipped by 0.75% against the euro from its highest point of this week, leaving the euro trading at PLN3.8540. Local factors are at play there, but the pattern is repeated elsewhere, with the Hungarian forint also sliding swiftly as nerves intensified over the Greek debt situation Thursday. The euro traded close to HUF269 against the forint in early U.S. trading.
The cost of insuring sovereign debt from many Eastern European currencies is edging higher, indicating bond-market nerves.
Eastern Europe is vulnerable to the Greek crisis on several fronts. General investor sentiment is one. The prospect of weaker growth in the euro zone is another.
But also, Greek banks are heavily exposed to the region, particularly Bulgaria, Romania and Serbia. Some of this exposure has already been trimmed, but as Greek banks face growing concerns over their solvency, the risk of a rapid pullout increases.
"Til now, worries about the knock-on impact of the Greek crisis have been muted," said Simon Derrick, a currencies analyst at The Bank of New York Mellon in London.
Sign of stress in Greek banks now "must surely raise fears of a liquidity squeeze taking place," he said. "If so then the risk of a modest knock-on impact for the likes of Romania must also be considered. Given this, it might be worth keeping a closer eye than normal on the currency and equity markets of the region."
Aside from emerging markets, major currencies aren't immune to all this either. Many economists are braced for a heavy fall in the Japanese yen at some point, reflecting the country's super-low interest rates and heavy burden of debt. Instead, though, the currency is climbing because of its perceived safety.
Several bank analysts advised buying the currency Thursday, and already, the dollar has sunk by 1.75% against the yen so far this week to trade just over Y93. The under-pressure euro has fallen by a sharper 3% to the Y124 area.
Analysts at RBS said that both the yen and the U.S. dollar--the other classic bolthole in times of stress--could gain further from here. "Contagion from Greece has been contained so far, but there is always a risk that a threshold is breached and global asset markets fall in unison. Extended positions in commodity and emerging-market currencies leave them vulnerable to a sharp correction... It is time to lighten positions," the bank said.

Price memory... 3340 is an S/R level, but why? It's ALSO yesterdays opening price at 5pm EST or Central pivot.

Check out how long it hung a'rd there on a shorter TF and how it acted... look at (740) on the Swissy on the same TF say 15m or so... ahhh grasshopper, it begins to clear.

Now Wait for the nickel to drop.

Gator do your ever sleep.. Holy crap man you must be an insomniac like me... "Redbull to the end", I think I am just addicted to forex like you..

3342 is also dpp for gmt midnight

i think it will break eventually, either that or it moves up and 1.3394 is resistance.

I'm just hoping that the transactional orders at Frankie open don't screw this up and delay/prevent it.

Situation on my charts this morning:

euro, cable, swissy - because they're highly correlated

15m candle closed like a doji with no LL's (closed higher then previous one)

ok I have 2 trade plans for today
1. a little risky sell at 3360 (shoulder of H&S) with hedge at 3390
2. sell at 3330 below pivot below tl and below neckline of H&S sl or hedge again 3390

Profit target can be as far as 3300 or 3280 but will put sl in place when +10.

comments welcome

You always have to do the inverse than Sostratos say. If sostratos say, sell, you have to buy and if they say buy, you have to sell. In my opinion they are always wrong.

Get a room!!! Get it !!

hahahha yes you are right,but lately they had been spot on with their anal-ysis.
My trades are not based on their posting I got other reasons. Stupid thing is I can go long unless we broke the utl which is around 3390.
In general I can agree to your comment and you may even be right today we'll see.
T.cat

I prefer Voodoo.

Bite your freaking tongue!

GERMANY DATA: Germany's trade balance increased less than expected in
February to a seasonally adjusted +E12.1 billion from +E8.7 billion, the
Federal Statistical Office reported on Friday.
-- Germany Feb NSA trade surplus +E12.6bn; Jan unrev +E8.0bn
-- Germany Feb NSA C/A surplus +E9.1bn; Jan rev +E4.4bn (+E3.6)
-- Please see MNI MainWire for details

Provided by: Market News International

Second 15m Candle that closes higher and BTW it is green. #468

best i can do is is the mid between my center of universe to the next center of universe. 3622 3337 3052