EURUSD

Ouch Shit... EURUSD epic drop 18 pips in 10 minutes... strong down...

Ich kann dieses Genöle von GAPS nicht mehr hören.


Friday closing near figure - Sunday opening near figure


THERE WAS NONE - GUYS WE ARE TRADING SINCE A FEW HOURS


I do not know what you are doing there - Däumchen drehen ! ?


hmmm

Nah, I was stopped out there for a loss of 48 pips...

Obviously.. very.. very.. far

If anyone can say why the EUR/USD will rise on the bailout news, I would love to hear it (other than on short covering, which may have already have been done over the last couple weeks. I would love to go long and ride into the 40's+, but my gut feeling with all the others (PII(G)S) in substantially similar circumstances, is the EUR/USD pair goes lower.

We'll get em this week...

Yes sir we will! thx for the encouragement man, many pips to us both

From what i know:

1)Money coming from other member states (public and private corp) and the remaining needed from the IMF.
2)Is going to >capitalize the Greek nation (public finance) in order to comply with its near term obligations & >capitalize the nation's banks.
3)Is so large because further funds will be needed as the country is getting into a deeper recession because of the tough austerity measures.
4) As per the Greek finance minister by 2013 the % of debt to GDP will be below 3%. And the Greeks as EU members (for now at least) can emigrate to any EU country they wish (definitely they wont go to Germany) & to USA as well.
5) Don't know.


I have a question as well.

Does anyone knows how the bailout affects the EURUSD pair. I mean fundamentally (supply & demand)???
Thanks

Even rubbers break. Then we all get skrewed. Litterally!

I'm not yet putting any money on it but, with CNY, JPNY, anf London out of the cycle...I'm wondering if the sell presure was too strong to allow a big gap???

Short from 3350, now +17. Cash in or let it run?

You have a cushion on a high probabilty position. Why not take advantage. I don't see tradable PA here yet so you would be taking a small gain and then be forced to seek a new entry point??? jmo

gl

Or may be not enough buy pressure for a big gap.

could be... when you start talking about flows.. thats beyond what I look at (unfortunately).. I'm strickly a charts and PA guy.. We just broke a 4H trend line.. I will be heavy long if it goes down to 327ish.. tempted to short it on the way there.. we are back inside the trend lin at 3325.. I should sit on my hands a minute..

You are right though.. we may have been spared an even bigger gap..

What kills me is; one headline and we are back to kicking the EU down verbally again.. LOL

Depends on your leverage; sometimes 17 pips is enough to make the car payment...to others it might be a #5 combo lol

EUR110 Bln Bailout Approved For Greece


THE EVENT: Greece reached a historic deal Sunday with other euro zone countries and the International Monetary Fund for a three-year, 110 billion euros ($146.5 billion) bailout. The finance ministers of the 16 euro-zone nations agreed the 15 other countries would lend EUR80 billion over three years, after receiving a positive assessment of the need for a bailout by officials at the European Commission and the European Central Bank. The IMF will offer a EUR30 billion package.

Greece needs cash to pay back EUR8.5 billion in borrowings due May 19.

PRICE OF THE AID: Greece will be required to slash public-sector wages, raise sin taxes, increase value-added taxes, impose a new levy on businesses, cut pension payments and raise retirement ages for some public-sector workers. Greek Finance Minister George Papaconstantinou said the new measures imposed to secure access to the unprecedented bailout package are the harshest and most austere imposed in European history.

The conditions include:

-Scaled rises in the value added tax of between one half and two percentage points across the three different tiers, while excise taxes on fuel, alcohol and cigarettes would rise by 10%, luxury goods taxes would be hiked and a new tax on gambling wins would be introduced.

-Public sector workers will lose their so-called bonus wages, or the equivalent of two months' pay above the usual 12 months. It will be replaced by a payment of EUR1,000 per year, but only for those with gross wages of less than EUR3,000 a month.

-Private sector wages will be frozen for three years. In addition, labor markets will be liberalized, increasing the right of employers to lay off workers as well as pay them lower redundancy compensation. Closed off professions will also be liberalized.

-All pensioners would loss their two extra bonus wages if their pensions exceed EUR2,500 per month. The new pension system will impose a minimum pensionable age of 60 years, and women in the public sector will see their pensionable age increased to equal that of men from 2011 onward.

-Papaconstantinou said Greece will have until 2014 to cut is budget deficit as a percentage of gross domestic product to below 3%, as is mandatory under European rules.

MAY 7 MEETING SET: A summit of European Union heads of state and government will take place May 7 to approve the package of emergency loans to Greece, Euro Group head and Luxembourg Prime Minister Jean-Claude Juncker said Sunday.

EUROPEAN REACTION: German Finance Minister Wolfgang Schaeuble said the European Union-International Monetary Fund program on Greece is a strong program that will help defend the stability of the euro zone and fight off speculation.

French Finance Minister Christine Lagarde Sunday said euro zone leaders meeting Friday would try to draw lessons from the bloc's handling of Greece's financial crisis, saying "clearly in terms of governance we must draw lessons, and be efficient whenever that is needed."

EU's Commissioner for Monetary Affairs Olli Rehn stressed that taxpayers in other euro zone countries shouldn't suffer a loss, because the interest rate Greece will pay exceeds their own borrowing costs.

"There will not be losses to the taxpayer," Rehn said.

Rehn said EUR10 billion of the package has been set aside for a Financial Stability Fund that will help Greek banks if their capital adequacy is threatened.

GREEK REACTION: The Greek Prime Minister George Papandreou said the only red line for his government is to avoid bankruptcy and there will be painful but inevitable cuts to public sector wages and pensions.
Speaking in a televised speech at an extraordinary cabinet meeting, Papandreou said: "We are at a historic cross road to save the country. The only red line my government has is not to allow the country to become bankrupt."

Finance Minister Papaconstantinou said the bailout will allow Greece to implement reforms and will provide sufficient funds for Greece's borrowing needs until the early months of 2012.

"The aid protects our country from the international markets but our aim is to return to them after they normalize," Papaconstantinou said. "But for that to happen we need time to implement our reforms so we can borrow at lower than the unusually high rates now available."

"The negotiations on the aid package were tough," Papaconstantinou said. "Our choice was either to let the country collapse or undertake a hard fiscal adjustment with difficult measures for an unprecedented amount of aid."

The main opposition party, the conservative New Democracy Party, lashed out at the new cuts. "This is an even heavier dose of the medicine that got us here in the first place and could kill the patient," party leader Antonis Samaras said in a televised statement.

The measures have whipped up an already angry populace. In Athens on Saturday, tens of thousands joined a giant May Day protest in anticipation of the aid deal. Rioters threw Molotov cocktails at police, and marchers chanted "get out to the IMF and the European junta." Union leaders said on Sunday they will renew protests this week, and a widespread general strike is set for Wednesday. "We will start our new struggle with protests on Monday, Tuesday and the strike on Wednesday. We will fight for as long as it takes against this giant injustice," said Spyros Papaspyros, president of the public-sector umbrella union ADEDY.

MARKET REACTION: Experts say the Greek bond markets is likely to unfreeze Monday and equities will continue the last leg of their relief rally after agreement was reached on the EUR110 billion bailout package.
"The HDAT local bond trading platform is likely to unfreeze tomorrow--after the last three dead sessions--on the firm agreement and the size of the bailout, as confidence is slowly restored," a senior local bond trader said to Dow Jones.

DOW JONES COVERAGE INCLUDES:

WSJA(5/3) Greece Seals Bailout Deal
Euro-Zone Agrees EUR110 Bln Package For Greece
IIF: Greece Stability Package Should Calm Roiled Markets
Greek Crisis To Dominate ECB Meeting In Lisbon
French Fin Min: EU Summit Must Draw Lessons From Greek Crisis
German Fin Min: Greek Plan Will Help Defend Stability Of Euro Zone -TV
EU Trichet: Confident Greek Program Will Restore Confidence
EU Juncker: EU Summit To Be Held Fri May 7th To Validate Plan
German SPD: Merkel To Meet Parliamentary Leaders Monday
No Doubt EU Members Will Agree On Financing Figures-IMF Official
Greece To Cut Pensions, Freeze Wages, Wage Allowances-IMF Official
IMF Official: Markets Will See Greece Plan As Credible
Greek PM: No Other Choice But Bailout And Requires Very Tough Measures

For full coverage, search Dow Jones Newswires under R/GR.

(END) Dow Jones Newswires

May 02, 2010 17:31 ET (21:31 GMT)

The cheap money has got the equities so treed that the modern benchmark for investing is to look for the biggest crooks who are not yet under prosecution. Markets are based on counterparty trust and accountability. These are nowhere to be found. The very currencies we trade all have exactly the same value. Zero! The only party required to accept a currency is the government which issued it. Therefore, the only thing guaranteed about a currency is that if you have enough of it, you can pay your taxes...

bearish wedge topped out at today's high. (in top i mean it touched upper tl) i don't trust pa. bearish wedge on a 4 hr with the trend is nothing to ignore. im not trading atm.. wedge cross is at 3432 ish.

Not trading either.....I was looking for an entry on the GBP/USD but with the bank holidays etc, it might be tricky, so I'll wait......

for real ....

set stop to be

look at your 4 hour

Greece just got a 120 bill bail out and you are selling euro even though 4 hour chart is up ?

I am buying dips

4 hour
1) all dips being bought since 28th april
2) rsx green
3) jma up ( blue)
4) hma up ( green
5) tl up
6) 120 bill bail out ( do not even need to consider this to see 4hr is up )

7) thrill seekers sell euro all others buy dip till this changes

my target for euro session + 1.3400 / 1.3450

Unless 1.3250 is taken out I am buying dips and trading direction of current 4hour trend