EURUSD

whhhhhhyyyyyy!

For what it worth NY took this baby down on the 29th , 30th and 3rd
when they opened. I hope the colony can take it below 3100 .

amen

Moodys & Spain
Tuesday, May 04, 2010 13:20:17
(SP) Moodys: Taking no rating further actions on Spain at the moment
***Note: Earlier in the session vague rumors of a potential sovereign downgrade were making the rounds. Fitch reaffirmed AAA rating and stable outlook on Spain.

Um last weeks swing low is right here. That's why.

oh.


they should take some monies off barca and real esp real. lol.

Double bottom?

* March PPI up 0.6 pct vs Feb; up 0.9 pct y/y

* Monthly energy prices rise 1.7 pct

BRUSSELS, May 4 (Reuters)

Energy boosted euro zone producer prices as expected in March, data showed, but underlying inflationary pressures remain low, underlining expectations the European Central Bank will not raise rate until 2011.
The European Union's statistics office, Eurostat, said on Tuesday that producer prices in the 16 countries using the euro rose 0.6 percent month-on-month for a 0.9 percent year-on-year gain.
Economists polled by Reuters had expected prices to rise 0.7 percent on the month and 0.9 percent year on year.
Producer prices play an important role for rate-setters as a precursor to consumer price developments. The ECB, which meets on interest rates on Thursday, targets consumer inflation at just below 2 percent.
"The overall picture is that the rise in producer prices was driven by energy prices," said ING economist Martin van Vliet.
"The underlying price pressure remains very subdued -- excluding energy producer prices grew 0.1 percent year-on-year which is very low. And... core CPI goods inflation is lagging behind producer prices by 12 months," he said.
"The ECB can keep rates on hold for the rest of the year and slow down the unwinding of unconventional measures," he said.
Energy prices jumped 1.7 percent month-on-month in March for a 2.8 percent year-on-year rise. Without the volatile energy and construction sector, producer prices rose 0.3 percent on the month and 0.1 percent in annual terms.

"Despite some recent improved data and survey evidence for the euro zone, the ECB is likely to retain the view that the euro zone's recovery will be bumpy and gradual, with the result that underlying inflationary pressures will stay subdued," said Howard Archer, economist at IHS Global Insight.
"We also expect the ECB to continue to tread very lightly over the coming months in withdrawing its emergency liquidity measures. The risk that the Greek crisis and contagion effects could increasingly weigh down on euro zone economic sentiment and activity reinforces the case for the ECB to keep its finger off the interest rate trigger."

I joined recentlyu to today's tradings session. The fal from the highs was due to this rumors you're taking about?

no WAY this thing is going lower ! (hope so)

On the contrary to me, looks like € is slowly battling losing fight. Bad place to entry now.

Still in that position and we're on 99 of todays range (since 00:00 GMT). Expecting 120+.
+75 so far

LONDON, May 4 (Reuters)

Gold priced in Japanese yen hit its highest in 27 years on Tuesday, according to Reuters data, as euro zone sovereign risk fears fuelled a cross-currency rally in the precious metal.
Japanese yen-priced gold XAUJPY=R reached a peak of 112,490 yen an ounce and was bid at 112,132 yen an ounce at 1030 GMT, against 111,713 yen late on Monday.
Elsewhere gold priced in Canadian dollars XAUCAD=R reached its highest since Dec. 17 at C$1,208.12 an ounce, and was later at C$1,203.40 an ounce against C$1,194.19 an ounce.

I'm with you, but I'm not so sure about the "no WAY" part

Yes i see this S/R. As an exercise i started of a blank bar chart and tried to draw tese lines by my own. The results were pretty satisfying as i got most of the S/R you posted earlier +- 5-6 pips. I also got some additional, less significant ones.
Now I'm trying to identify PA patterns around these lines that either hint to a bounce or break of the line.

Anyway, your posts are very helpful. Thank you for that!

Best regards

From : http://realitylenses.blogspot.com/

r.

PS: sorry..not used to managing pictures in posts

I locked in my half profits when we hit daily S1 ... might retrace from here... no idea ... activated a trailing stop just in case. bears seem to be less persistent right now.

LOL!! Some of those happened to me!!! Hope not anymore!!

Firm Bullish in EUR/USD

- 3x H1 bottom
- 2x Indicator Divergence

SL:1.3105


Cheers,

Happened to us all at some stage skipper!