EURUSD

If you were short all the way from 1.44 or higher, you won't be saying that probably. Still you're right, they should not have been allowed in. Let's see what were the conditions for entry...

BRUSSELS (Dow Jones)--The European Commission wants to require most currency derivatives trading to be routed through clearing houses, despite the relative resilience of this market during the financial crisis, according to a commission document seen by Dow Jones Newswires.
Clearing houses are at the heart of the European Union's plans to reduce risk in the derivatives markets. They are entities that stand between buyers and sellers and absorb losses if either side defaults, minimizing the risk that the failure of a single large derivatives trader could cause a catastrophic financial meltdown.
The market for credit derivatives threatened the financial system after American International Group (AIG), a major participant in the market, nearly collapsed in September 2008. But the foreign-exchange derivatives market--with about $49 trillion in contracts outstanding, according to the latest data from the Bank for International Settlements--functioned well and didn't appear threatened despite instability in the credit derivatives market.
But that stability may be illusory, the commission document says, given that governments across the world provided massive assistance and guarantees to their banks to prevent them from collapsing.
"The fact that the foreign-exchange market performed well has less to do with the inherent virtues of that market segment per se and more with those guarantees," according to the document. "In addition, while the foreign-exchange market may have performed well during this crisis, this does not guarantee that it will perform well next time around."
And liquidity in the foreign-exchange market did in fact become a problem in the second half of 2008, as traders grew increasingly concerned about the soundness of their trading partners while the crisis escalated, the commission says.
The commission document suggests, however, that not all currency derivatives trades would need to be cleared, only those trades that pose potentially systemic risks.
The commission is aiming to provide some exemptions from the clearing requirement. Michel Barnier, the top commission official in charge of financial regulation, said this week that non-financial firms that don't pose systemic risks deserve some exemptions.
But excluding all foreign-exchange derivatives could also encourage arbitrage, with market participants purposely restructuring interest-rate derivatives as currency derivatives to avoid regulation, the commission document says.
Officials from EU national governments will discuss the document at a meeting later this month.
The commission is aiming to propose legislation on derivatives in July. Then the European Parliament and the EU national governments at the European Council will have to approve the legislation before it can become law.
-By Matthew Dalton, Dow Jones Newswires; +32 2 741 1487;

parity, LOL. Still 3 to one would do me just fine baby, as i happen to have sold usd in favour of peso.

Oh, I'm sorry...I haven't mention... I never look only one TF. Usually, I monitor all M1-H4 to have a big picture of what's going on (for intraday). And then, when having some signs, going to lower to see triggers. That's why I said it from M15.

But I completely agree that looking at just one TF (whatever it is) is - useless.

keep dreamin'

On the contrary, downside extension below 1.2885 would expose lower targets, at 1.2455 and 1.2330, says Jones: "A close below 1.2885 however will engage the next downside targets of 1.2455 then 1.2330, the 2008 low."

waiting for NY close

This break can work to the low if price able to below 59 & hold .
fontu

Could you, please, explain what low do you have on mind saying 'work to the low'?

tnx

Not directed at you my friend, just a general observation based on watching this thread for a LONG time...

We trade much alike it seems...

price holds above pivot point @the moment, if we get a swing low on 15M and then a break above 12905 we may get a short squeeze! Somebody agrees?

Yes, i didn't think you wanted to direct it at me but it is good to make that things clear because of all new ones that read and might get a clue that it has some sense watching just one TF. That's why it's very good you mentioned that.

looks like

wow miss that train down, my earlier short at 1.2962 got closed at sl while i at work........ else i'll be rolling in roughly $3k++ usd now .
lol my fault for putting a small sl and for going to work on a "happenning" day.

wonder if it is too late to jump on again for a ride down. might just do that if price goes above 1.2885 and start falling again. either a scrape or 1 to hold till 1.2798.

hmmm.... price seems un willing to give up the gain from today's low....


regards,
eg

Those Sh*t heads know nothing, they will say today one thing and tomorrow

different.. That's why I only observing DJ wires, without paying much

attention to that crap. Exact same idiots from Citi give $55 target on RIMM,

after which stock fly to 74

I' don't know, I've always been partial to the "Northy" - North American Currency
It could be like so:
Euro
Sterling
"Northy"
Loonie
etc ... LOL

One currency for all of North American (Mexico, Canada, U.S.) as long as it's not called the Amero. It just doesn't roll-off-the-tongue.

Thanks , any low below as you see lines can happen but can take the fisrt of it's kind first,1.2762.now can bounce from 87 resistance to the down . I have all shorts all the way , accumulation for the lows now , more risks for more gain ,not closing any single one seeing any profit .
work or faill all together . 2nd taking of the day or final one daily basis.
fontu

Anyone have problem with their charts painting? My trendlines are consistent on all the timeframes except m15. When I go to that tf it shows my trend lines at different levels. Anyone know why or how to correct?

like your trading style.... tried that way of setting trade to be triggered on it way down. too bad i tried it on oil the last time while it was having its bull run last year. lesson learnt from that episode is never go against the trend. NEVER.

I see. Thanks for explanation.

At the moment, it looks like it's testing that mini uptrend line from the bottom side (that's level 1.2887) before possible down.

We'll see what will happen.

In addition -> it's testing 21 EMA dynamic support/resistance on M15.

anyone missing the last 1hr candle it 's gone on my chart?
dean