EURUSD

Thanks ,just come back to see if my tp taken up but see some changes , In m5 though a buy setup perfection has occured yet it can fall to 1.2974 to 59 support area because m15,30 still down have over 30 min to close or to cancell the setup totally at this 9th candle , means bull totally fused hourly tf level & likely next may in h4 level & done.
maintaining both sides tp remain same as now 1.30 most & few down to 1.2977 ,59 & 33.

If even now price back to 1.3038 & above , no worry pending shorts there .Bais Short.
fontu

bear wedge broken.......

I made 20 pips a little bit ago...went short at 3015 and cashed out at 2995.

Now sitting on the sidelines to see how NY reacts to all of this news.

BP

If I follow your strategy, I should close my short-loosing-position right now.
however I will hold a litlle more with risk more lose while I can afford it.

I took +100 pips off that move @ tkprofit level 1.3000. I'll continue to look for shorts.

I was eyeballing that myself. Steep angle on the wedge though...might just be kicking out to continue building...we'll see. Already good for a quick grab though, no doubt.

Chart please.

I'm not planning on looking for too many longs just yet. Trendline on the hourly suggest price needs a bearish retracement before an continuation upwards.


Monthly chart show me that price will more than likely open over Fib level which indicates a buy will be in play in the upcoming months. But until this month closes out, I'll continue to look for short opportunities.

.

The Long I called on Friday is just the beginning of what I think will be a trend change in the up coming months. (Assuming EU helps Greece. If not my analytics will be shot. But I am playing this on pure technicals)


"I told you so"

i wont short 'hot money'
crisp and freshly printed.

sold gu....

I will give time to break 2987 line with a close before I enter short.

aha tricky one, but the angle is very steep dont you think?

keep shorting it's going to 0

1 trillion $ no joke.. Greece BS over, now look for other Targets.

If it retrace a bit down then I'm looking for low 1.29, maybe.

yea this is true....still a wedge however. Only bad thing is euro markets soared and US futures are up. Im in decent profit right now, i may take a little off the table....

ahaa good to hear man, i missed the shorting opportunity though it was a good chance. 61.8% H4 retracement + R3 rejection + bearish candlesticks on different tf's. *sighs"

Special for Gator

Fed Central Bank Swap Program is BACK?


" WASHINGTON (Dow Jones)--Can the Federal Reserve provide a quick fix to tame Europe's growing financial crisis? Probably not.
But it might be able to help if conditions in Europe worsen.

The Fed is considering whether to reopen a lending program put in place during the financial crisis in which it shipped
dollars overseas through foreign central banks like the European Central Bank,
Swiss National Bank and Bank of England. The central banks, in turn, lent the dollars out to banks in their home countries
in need of dollar funding.

The Fed has felt that it is premature to reopen this program--which was shut down in February as the financial crisis
appeared to wane--because it wasn't clear that foreign banks were in need of dollar funds.
Still, trading floors on Wall Street are abuzz with anticipation today that the Fed might use the program again.

Reopening the program would come at a cost for the Fed. Critics in Congress could be against the program because of
the perception that the U.S. would be coming to the rescue of Greece and other struggling European nations. The Fed is
already being pushed on Capitol Hill to be open to more scrutiny than it wants on the details of its international transactions.
The international lending lines are known among central bankers as swaps.

Fed officials believe the swap program was one of its most successful interventions during the crisis, when many banks
overseas became strained for dollar funding. In their normal course of business, they borrowed dollars in short-term lending
markets and used those dollars to finance holdings of long-term U.S. dollar assets, like Treasury or mortgage bonds. When those
markets dried up, the swap lines helped to prevent overseas bank funding crises in 2008.

Fed officials see the swaps as a low-risk program, because its counterparties in these loans are foreign central banks, and not private banks.
At a crescendo in the crisis in December 2008, the Fed had shipped $583 billion overseas in the form of these swaps.

Strains in short-term funding markets are starting to show up again, but they're nowhere near as severe as they were
after Lehman Brothers collapsed in September 2008, so it isn't clear that the program is warranted.

One example of this strain shows up in the London interbank offered rate, or Libor, a short-term international lending rate.
Libor has risen from 0.31% in mid-April to 0.43% on Friday. Another sign of stress is that it is 0.18 percentage point above the
expected federal funds rate--the Fed's benchmark lending rate--up from 0.09 percentage point over the past three months. When that
spread gets larger, it is a sign of banks' skittishness about lending to other banks.

"There is definitely stress," says Louis Crandall, a money market analyst at Wrightson ICAP LLC, a money market broker. He adds that
some borrowers in money markets are beginning to take shorter-term loans from lenders because of fears among lenders about being exposed for too long.

Still, Mr. Crandall notes, the stress in money markets isn't nearly as severe as it was during the worst of the financial crisis.
Back then, he notes, Libor rates were well over 3 percentage points above the expected fed funds rate, compared to less than a quarter
of a percentage point today. The wide spread then was a sign of extreme wariness in short-term money markets about lending even for short periods.

As they watched European turmoil unfold in the past few days, Fed officials weren't convinced that funding problems were severe enough
in short-term money markets to warrant U.S. involvement. That could change if conditions worsen.

Still, the swaps wouldn't be a cure-all if they're reinstated. They only help relieve short-term funding pressures on banks that need dollars.
They don't help banks that need other funding currencies, like euros. And they don't resolve worries about bigger issues, such as the risk that
Greece or other countries might default on their debt, or the inability of banks to unload illiquid holdings of European sovereign debt.

Mr. Crandall said a Fed swap program would only be useful if it was instated as part of a broader European package to calm financial market worries.
Two senior Fed officials will be in Basel, Switzerland, this weekend for a regularly scheduled meeting of global central bankers--New York Fed president
Bill Dudley and Fed vice chairman Donald Kohn. "

out of eu for 94....gu for 19

letting .20 lots run stops BE

2