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  • #238,841
  • May 8, 2010 9:50pm May 8, 2010 9:50pm
"Defending her government's decision to participate in the EU/IMF loan package to Greece on Wednesday, German Chancellor Angela Merkel welcomed the banks' willingness to assist the debt-ridden country, but warned that they should not expect to profit from their participation."
http://www.dw-world.de/dw/article/0,,5539814,00.html

What is she saying? If the banks keep the lines of credit open and charge interest, and the govt. guarantees the loan, why won't the banks make a profit? She is not making any sense.
  • #238,842
  • Edited 10:40pm May 8, 2010 10:29pm | Edited 10:40pm
Anybody ever wonder if skizzer is really just a bot...? Just preprogrammed responses to keywords?

Mention "dollar" or "euro" and you get the same core statement with what seems at first seemingly endless variations, but when you get down to it.... s.o.s different day.
FUBAR...
  • #238,843
  • May 8, 2010 10:35pm May 8, 2010 10:35pm
Quoting wwwin
What is she saying? If the banks keep the lines of credit open and charge interest, and the govt. guarantees the loan, why won't the banks make a profit? She is not making any sense.
Dunno, perhaps she's asking the banks to write off the interest, in the interest of saving the euro, and that as long as the banks get their initial stake back, their 'interest' could be no more than feeling good that they helped saved the euro, and therefore, a saved customer will be a repeat customer.

I don't know if that's what she means, but if it is, she's dreaming.....banks don't lend money for free....no matter what!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #238,844
  • May 8, 2010 10:37pm May 8, 2010 10:37pm
Quoting Pipo
Good luck to anyone who is so sure about the direction on hearsay and trades it live. It may work out this time maybe but what about tomorrow , next week or next month unless you make your money now and stop trading for good you burn it again the same way.
Look the market sentiment for the period you are trading in and two above for guidance adjust your money management and you come out in front of the game.

i have also may oppinion about the Euro but I certainly don't use it to trade.
Myself living in Calif (the Greece of the US), my logical mind tells me why would I ever bet on the USD. That logical mind kept me out of profits until I realized that I will only trade the current situation and take my beliefs and shove them aside. Since then, I have make a ton on the unimaginable perceived strenghth of the USD. I laugh as it happens but my account keeps growing.

I have learned to ride whatever is happening and forget what I think "It Should Do" and worry about "What I Think Others Will Do".

Obviously the USD is crap, but that is not how it is being perceived, so I could care less. Up, Down, Up, Down and again and again...I could care less. I only care about what it's doing when I place my trade and that's it.

What I can see is that we will continue to have increased volatility and I welcome it.
  • #238,845
  • May 8, 2010 11:19pm May 8, 2010 11:19pm
The rate per XE website is 1.2703 but it is too early to confirm a gap down. I read somewhere that they will meet later today and send a clear message to attack anti-euro speculators.

What do you think about the outcome of such meeting? And how do you see such comment/warning?

Will the ECB buy EUROS to stabilize EUR/Crosses or send them up? Maybe not at this point. Maybe when EURUSD is close to parity...

It's going to be interesting to see this amazing plan they will agree upon to "combat" anti-euro players.
  • #238,846
  • May 8, 2010 11:35pm May 8, 2010 11:35pm
Maybe 2012 doomsday scenario plays out lol
  • #238,847
  • Edited 12:51am May 9, 2010 12:36am | Edited 12:51am
Quoting tradecandles
The rate per XE website is 1.2703 but it is too early to confirm a gap down. I read somewhere that they will meet later today and send a clear message to attack anti-euro speculators.

What do you think about the outcome of such meeting? And how do you see such comment/warning?

Will the ECB buy EUROS to stabilize EUR/Crosses or send them up? Maybe not at this point. Maybe when EURUSD is close to parity...

It's going to be interesting to see this amazing plan they will agree upon to "combat" anti-euro players.
I don't see how buying euros is going to do anything other than to temporarily pump the euro. How is that going to help the debt crisis? They need QE, printing money to buy the bonds and phuck the bond speculators, and that generally has just the oppositie effect on the currency. The exchange rate of EU is not the problem.

PS. Yeah, that 1.2703 means nothing, that was a trade around 3:30 on Sat.
  • #238,848
  • May 9, 2010 1:03am May 9, 2010 1:03am
Quoting tradecandles
The rate per XE website is 1.2703 but it is too early to confirm a gap down. I read somewhere that they will meet later today and send a clear message to attack anti-euro speculators.

What do you think about the outcome of such meeting? And how do you see such comment/warning?

Will the ECB buy EUROS to stabilize EUR/Crosses or send them up? Maybe not at this point. Maybe when EURUSD is close to parity...

It's going to be interesting to see this amazing plan they will agree upon to "combat" anti-euro players.
Anti-euro players ? simply a silly talks . in eu exchange concern the anti-euro players are usd long ones , that is euro has to combat only to usd as currency with nationals behind, if any combat it is there at the birth of euro & start exchange with others .
stop combating with others , make it exclusively regional , buy-sell internationally by gold or commodity exchanges, back to the ancient days, stop doing in forex & hide in a cave !!!
all nonesense they talk & meet perhaps .when in trouble parties start staggering & talks all left & right, first US & now euro side.they are the roots of all roots.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #238,849
  • Edited 1:24am May 9, 2010 1:14am | Edited 1:24am
Quoting learntowin
Sell and take profit

then Bounce

Sell and take profit

then bounce and try to bounce

then Sell every bounce until it gives up effort to bounce ...

KEEP SELLING ON RALLY FOR 1,000 PIPS MORE ?

SELL ON EVERY ATTEMPT TO BOUNCE

http://yfrog.com/4veuweeklychartp
  • #238,850
  • May 9, 2010 1:50am May 9, 2010 1:50am
Quoting J B
Myself living in Calif (the Greece of the US), my logical mind tells me why would I ever bet on the USD. That logical mind kept me out of profits until I realized that I will only trade the current situation and take my beliefs and shove them aside. Since then, I have make a ton on the unimaginable perceived strenghth of the USD. I laugh as it happens but my account keeps growing.

I have learned to ride whatever is happening and forget what I think "It Should Do" and worry about "What I Think Others Will Do".

Obviously the USD is crap,...
Well said....

I too don't care if it goes down or up.... as long as it not sideways...
Who really cares about political correctness as long as there is volatility, we need a currency to move. I let everybody else worry about daily problems, i just follow the trend on my chart and where I place my trade.

We can be over loaded with everyone's I think it should do this or that.. who really cares? Look what your chart is telling you... and wait for the break out, that is what trend traders do. We follow the pips...
  • #238,851
  • May 9, 2010 1:58am May 9, 2010 1:58am
Quoting J B
Myself living in Calif (the Greece of the US), my logical mind tells me why would I ever bet on the USD. That logical mind kept me out of profits until I realized that I will only trade the current situation and take my beliefs and shove them aside. Since then, I have make a ton on the unimaginable perceived strenghth of the USD. I laugh as it happens but my account keeps growing.

I have learned to ride whatever is happening and forget what I think "It Should Do" and worry about "What I Think Others Will Do".

Obviously the USD is crap,...

ditto
  • #238,852
  • May 9, 2010 2:14am May 9, 2010 2:14am
Quoting smokey22
Well said....

I too don't care if it goes down or up.... as long as it not sideways...
Who really cares about political correctness as long as there is volatility, we need a currency to move. I let everybody else worry about daily problems, i just follow the trend on my chart and where I place my trade.

We can be over loaded with everyone's I think it should do this or that.. who really cares? Look what your chart is telling you... and wait for the break out, that is what trend traders do. We follow the pips...
big numbers are our friends...
  • #238,853
  • May 9, 2010 2:38am May 9, 2010 2:38am
Hello,

Well looks like the German finance minister mr geithner wants to prop, up the Euro, the japanese have said they are against this idea, i hope the Asians empty their sleves of all the Euros in the morning.

I swear this German said he is for a 'strong dollar'.

Well whenever a central bank has drawn a line in the sand and said we will defend a currency it has never worked, from falling.

look at Russian central bank they targetted 41 against Eurodollar basket,it never worked, remember September 1992 it never worked.

Soon it will be time to bet against Euro.
  • #238,854
  • May 9, 2010 2:40am May 9, 2010 2:40am
i can only say: trade what u c, not what the people say
  • #238,855
  • May 9, 2010 3:21am May 9, 2010 3:21am
That's the article I was writing about:

SYDNEY, May 09
(IFR) - Foreign Exchange and other asset market traders in Asia could be in for a torrid time very early Monday morning. The EU has met on the weekend and has reportedly drawn up a plan to "ring-fence" the Greece debt crisis by asking all 27 members of the EU to agree to a financial mechanism before the markets open on Monday morning. A press conference following Sunday"s meeting will take place at 6:00 PM Brussels time or 16:00 GMT, which will be 02:00 AM, Monday Sydney time, Midnight Tokyo time.

The UK Guardian is reporting the plan will be 70 BLN EUR and is designed to protect the eurozone countries from speculative attacks in the
wake of the Greek debt crisis. According to the Guardian - German Chancellor Merkel and French Preisident Sarkozy are calling the 70 BLN EUR at the EU"s disposal an "intervention unit" to shield the euro against further market speculation. According to the Guardian Merkel said the mechanism would send a "very clear signal" to market speculators to back off - while Sarkozy told Bloomberg: "When the markets re-open Monday, we will have in place a mechanism to defend the euro", adding "If you don t think that"s significant, you haven t been to many EU summits."

The comments from the EU leaders do not necessarily mean the ECB will
intervene to support the value of the EUR at a particular level - but rather set up a mechanism to short-circuit speculative attacks on EU debt as what has happened with Greek sovereign debt. Many analysts feel that a worsening of the EU sovereign debt crisis will spell the end of the Euro - so when leaders speak of shielding the Euro - the might be talking of the bigger picture.

As of this writing - all of the details of the plan are sketchy, as EU
leaders work out the detail before agreeing to it. According to a Bloomberg
report, a UK official said that UK Chancellor Darling is likely going to oppose
the fund if Britain has to contribute and the UK has not received detailed
proposals about the fund from the EC.

--
  • #238,856
  • May 9, 2010 3:37am May 9, 2010 3:37am
Quoting SkyzerFX
I'll end on this.. Cause I don't think we are on the same page here..

Tell me when Japanese last time Rise rates? 10 years ago???

"Feds rise in few month.."

Markets turmoil will continue and you can forget about FEDs rising

rates with 10% unemployment and Record Debt for Years, cause it's

not in their interest in the first place.

Have a good night.
I totally agree. BTW: 10% is the "official" unemployment rate, the real one is above 20%. I don't think the FED will hike this year, maybe by the end of 2011 if at all... The ECB will hike long before. I think that this is all well planned. The US needs a weak Dollar but they don't weaken it too fast. So this is a nice temporary Dollar strength till the next down wave comes. I mean the Dollar is in a down trend for more than 90 years now. Who thinks this changes right now especially with debts level at historical highs? Even the officials say that the US will NEVER again have a balanced sheet in the next decades(!).
  • #238,857
  • May 9, 2010 3:39am May 9, 2010 3:39am
BTW: The most correct rates over the weekend if provided by Oanda and currently at 1.2765
  • #238,858
  • May 9, 2010 3:42am May 9, 2010 3:42am
Quoting lloydblankfe
Hello,

Well looks like the German finance minister mr geithner wants to prop, up the Euro, the japanese have said they are against this idea, i hope the Asians empty their sleves of all the Euros in the morning.

I swear this German said he is for a 'strong dollar'.

Well whenever a central bank has drawn a line in the sand and said we will defend a currency it has never worked, from falling.

look at Russian central bank they targetted 41 against Eurodollar basket,it never worked, remember September 1992 it never worked.

Soon it will be...
Nice insight,,

Sonic
  • #238,859
  • May 9, 2010 3:58am May 9, 2010 3:58am
Quoting learntowin
KEEP SELLING ON RALLY FOR 1,000 PIPS MORE ?

SELL ON EVERY ATTEMPT TO BOUNCE

http://yfrog.com/4veuweeklychartp
Right, Could be.
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  • #238,860
  • May 9, 2010 4:21am May 9, 2010 4:21am
Now the question is, which one should we follow? And in this case I mean short-term trading (since it is 1HR).

EUR/USD showing a wedge as an conitnuation pattern a little bit up. USD/CHF showing a much much larger wedge witch a continuation pattern up also..

Which one are you going for, short-term?
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