EURUSD

Is his hand cold?

0102 GMT [Dow Jones] Financial markets and politicians globally have been anticipating for months China would soon let USD/CNY drop. But they should consider that from Beijing's perspective, it has already greatly revalued CNY vs its biggest trading partner: the EU. Now with Greece's financial crisis shaking markets worldwide, China may hold off tampering with CNY peg for a few more months. Beijing has kept currency essentially locked to USD since U.S.-spawned global financial crisis took hold in July 2008. But as Greece's woes expand into a European sovereign-debt crisis, EUR/USD is plunging, and therefore EUR/CNY too. To little fanfare, CNY +20% vs EUR since late November and has surged, although less dramatically, against GBP. While standing still against USD, CNY on a trade-weighted basis is up 7% for the period, Citigroup reckons. See =FX ASIA: Euro-Zone Debt Crisis May Delay China Move On Yuan.

I more lol

5 min stopping vol 1.2821 long 15 pip stop

this time i take 35 ..lol if i do not get stopped

gu even

but of course my greed will not let me trade the easy pairs lol

I'm with ya - sometimes takes patience (like the one several weeks ago) and maybe a few nerves of steel - but; overall - it works for me.

Watch PA around 2866...if we get there....

I have 2887 aswell

still got them beans sky...

I got out with +190 using a moving average stop on the 1min. Now I can pay more attention to The Family Guy!!!


Tighten em' up..it's pulling back!!!

low vol test 5 min after stopping vol

holding long

dont use indicators that based on your broker quotes cuz as you know every broker has it's own shift in server time

use the global charts that 5 EST based and this is the reliable pivots that every body use

take it from web if you haven't a provider and plot them on your chart and play

sites like those livecharts and actionfx

TOKYO, May 10 (IFR). Over Reuters. The other central banks involved include the Fed, ECB, BoE, SNB and the BoC. This follows the announcement from the EU that an aid package of some E500 bln has been agreed upon. Including an added E220 bln from the IMF, total aid will come out to some E720 bln. The BoJ notes that a coordinated central bank response was deemed necessary to renewed strains in USD-denominated funding in Europe and that these swap pacts will help prevent the spread of strains to other markets and financial centers.

bounced around friday's high and EJ too laying at friday's high

let's see how this level will play ..

Here they are - pivots and all the levels which are relevant for us.

These are the levels - that others will understand as well, when talking about.


http://www.actionforex.com/markets/p...tmpl=component



http://cdn.forexfactory.com/images/icons/icon1.gif




ding dong

hahahaha

If the gap fills I will go long, but not before. Regardless of EU emergency fund package which will be saluted, it's time for a decent correction. Already long on UJ.

no problems in ez.. we just had the world bail them out. just shows how bad things really are. imf participation is a death roll for ez. growth.

Thanx guys. I trade with ACM out of Switzerland. Is there anyway I can change my settings to EST? I tried once before but I gave up.

PRESS RELEASE

10 May 2010 - ECB decides on measures to address severe tensions in financial markets

The Governing Council of the European Central Bank (ECB) decided on several measures to address the severe tensions in certain market segments which are hampering the monetary policy transmission mechanism and thereby the effective conduct of monetary policy oriented towards price stability in the medium term. The measures will not affect the stance of monetary policy.

In view of the current exceptional circumstances prevailing in the market, the Governing Council decided:

To conduct interventions in the euro area public and private debt securities markets (Securities Markets Programme) to ensure depth and liquidity in those market segments which are dysfunctional. The objective of this programme is to address the malfunctioning of securities markets and restore an appropriate monetary policy transmission mechanism. The scope of the interventions will be determined by the Governing Council. In making this decision we have taken note of the statement of the euro area governments that they “will take all measures needed to meet [their] fiscal targets this year and the years ahead in line with excessive deficit procedures” and of the precise additional commitments taken by some euro area governments to accelerate fiscal consolidation and ensure the sustainability of their public finances.
In order to sterilise the impact of the above interventions, specific operations will be conducted to re-absorb the liquidity injected through the Securities Markets Programme. This will ensure that the monetary policy stance will not be affected.

To adopt a fixed-rate tender procedure with full allotment in the regular 3-month longer-term refinancing operations (LTROs) to be allotted on 26 May and on 30 June 2010.

To conduct a 6-month LTRO with full allotment on 12 May 2010, at a rate which will be fixed at the average minimum bid rate of the main refinancing operations (MROs) over the life of this operation.

To reactivate, in coordination with other central banks, the temporary liquidity swap lines with the Federal Reserve, and resume US dollar liquidity-providing operations at terms of 7 and 84 days. These operations will take the form of repurchase operations against ECB-eligible collateral and will be carried out as fixed rate tenders with full allotment. The first operation will be carried out on 11 May 2010.

European Central Bank
Directorate Communications
Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet: http://www.ecb.europa.eu
Reproduction is permitted provided that the source is acknowledged.

http://cdn.forexfactory.com/images/attach/pdf.gif 2010-05-10_ASIA DAILY FOREX OUTLOOK - Majors.pdf (10.0 KB)




EUR/USD :

EUR/USD - to trade with risks skewed higher as sentiment improved on possible EUR600 billion EU crisis fund to soothe investors' nerves over spread of debt crisis across periphery of European monetary union; Moody's comment Friday that Italy has encouraging record in turning around its public debt trend; though doubts still remain about Greece's ability to meet tough austerity measures required by EU-IMF EUR110 billion bailout package. Data focus: 0600 GMT German March foreign trade, March manufacturing turnover. EUR/USD daily chart mixed as MACD bearish, but stochastics turned bullish at oversold. Resistance at 1.2950 (hourly chart); breach would expose upside to 1.2996 (Wednesday's high), then 1.3112 (previous base set April 28) and 1.3213 (Tuesday's high). Support at 1.2797 (previous cap set Friday); breach would expose downside to 1.2607 (hourly chart), then 1.2510 (Thursday's 14-month low), 1.2455 (March 4, 2009 reaction low) and 1.2387 (Nov. 13, 2008 reaction low).

Quite in line with ours, which was as follows :


2010-05-09_EUR/USD : Setup + estimation (preliminary)

EUR/USD :

Elliott :

Projection down towards 1.2697 from 1.3349 high (weekly + daily basis)

Strategy and Setup stuctures :

A thrust towards 1.2919 - 1.2949 or even above 1.2996 was expected. Possibly we may see dips towards 1.2824 - 1.2764 or even to below 1.2659 later.

Spot forex methods not easy to handle at the moment...






Details as to be observed / read in report below here :






zack peng