EURUSD

Got out of my short with +10 gained on a 500,000 contract. Lot of indecision in the market so I wasn't comfortable holding Stop Limit @ 1.3100.

you know, i just talked to my wife... merkel, and i really don't like her party, could turn out to be right to be that hesitant. in the end, when every contry and their mother are downgraded to junk-levels, we don't need to pay and can stay untouched

just another thought, though highly unlikely. there are many other goals they're trying to achieve with this crisis.

I was expecting crazy PA

I just bought EU at 3131....looking for a quick 20....

Looking good so far.

Figured Acumen needed someone on the other side of his trade to make it work.

BP

Here we go make 100 pips short @ 1.3240 not hit my profit like I mention last night market will reverse back up before hit support level.....

I have a few trendlines converging in that area. I assume that is where at least some shorts will be closing out and and least some longs will be entered. Momentum + FOMC volatility should do the trick in my opinion.

Theres speculation price action could hit 1.3000 if current news trend continues. $eurusd

hmmm 2008?

where not starting at 1.6....where much lower now. less distance to fall. it will be volitile.........

Who knows, that would be second entry averaging out at 1.3050 if no momentum to the upside from there. That`s my escape plan anyway.

http://en.wikipedia.org/wiki/United_States_public_debt

To be fair When US going to be downgraded to "AA" ?

=====================================

"
The United States public debt is the sum of all securities issued by the United States Treasury and is also referred to as the national debt.[1] State and Local Government Series securities are issued by state and local governments and are not part of the United States government debt.[2]
The national debt is presented by the United States Treasury as "Debt Held by the Public" which includes all debt instruments issued by the United States Treasury that are held by institutions outside the United States Government itself (specifically excluding intra-governmental obligations such as the Social Security Trust fund), and then the "Gross Debt" which is the sum of all securities issued by the United States Treasury including the intra-government obligations.[1]
At the end of first quarter of 2010, the gross debt was 87.3% of GDP (a measure of the size of the economy), composed of debt held by the public (56.6%) and of intra-governmental debt (44.4%).[3] Within the remainder of this article the phrase "Public Debt" is employed as a shorthand for "Debt Held by the Public"."
==============================

And Spain Public DEBT is 67% to GDP compare to USA 87.3% to GDP


WTF?

P.S

While was walking around my Limited BUY get hit, so long again EU,

starting from 1.3129

conflict

Taking a different tack to S&P who earlier downgraded the country to AA (see our 15.58 & 16.15GMT updates), [FITCH] has just reaffirmed their tripe A rating & stable outlook. The agency said that the governments fiscal adjustment program is strong & they have a credible commitment to change whilst the key risk is whether the economy can recover over the medium term to a robust growth rate. The [SPANISH DEPUTY PM] has been quick to reassure citizens after the S&P move by sending a message of confidence. He said that Spain is continue with the austerity plan for which they will take all necessary measures to meet. Moody's has yet to comment on any possible ratings change on Spain's debt.

i bet u.s. and other goverments are asking rating agencys not to downgrade to prevent panic.

wow...

I guess the only good thing to know is that Japan's public debt is at around 200% I believe...so we still have some room. Haha

BP

Bought 3141. Got your TP already?

Out with my 20 on my retrace scalp.

"That was easy"

hehe.

BP

3150 23.6 fibo level of the last price fall. I'm holding my shorts, hope it'll breach 3100.

Why do you take this so personally?.. That has to be bad for trading.. I agree that U.S. is no better than EU.. but goodness.. this is a great trading opportunity..

TP hit 20 pips, Next Buy Limit 1.3104

I have right timed my trades because i trade both ways and not gotten hit by unexpected news.

Kind of makes me think about not longing € at all right now...

MNI EURO-DOLLAR TECHS: Not Much Support Seen Until $1.3089
RES 4: $1.3711 Current top of Bollinger band
RES 3: $1.3692 High 12 Apr
RES 2: $1.3420/43 High 22 Apr, 21-day moving average
RES 1: $1.3274/78 5-day moving average, Former res line from Dec 3
CURRENT LEVEL: $1.3140
SUP 1: $1.3089 Support line from 18 Feb
SUP 2: $1.3054/57 Supp line from Feb 2002, 38.2% of $0.8232 to $1.6039
SUP 3: $1.2993 76.4% retracement of $1.2329 to $1.5142
SUP 4: $1.2965 Low 28 Apr
COMMENTARY: New yearly lows for the move hit with very little support
seen until $1.3089, which is a falling trend line from 18 Feb -- losing
8 pips/session. However, pivotal level is $1.3054/57, which is a support
line from Feb 2002 and latter the 38.2% of $0.8232 to $1.6039 move. The
daily studies are pointing south and support the bearish view.

Provided by: Market News International

Germany is prepared to rush through the disbursement of funds to help indebted Greece, could pass the necessary law next Friday.