EURUSD

I have a open trade (short) having 155 pips profit when market closed.

Any comment where the price will be when market opens on monday?

Interesting info on Greek cuts:

20% pay cut for all public/government workers

10% cut in pension

VAT(value added tax) increase from 19% to 23%

30% increase on alcohol/tobacco

I just watched a bloomberg interview...90% of Greek bonds that were sold are owned/were bought by German and French banks..90%!!

Will the Greeks really just go for all these cuts instantly?? Please!! This is a people that all want(ed) to work for government because of pay/benefits...

You think they're all just gonna go out and start their own business/invent services and goods??? Where they gonna work? All the government jobs will be cut back to due to budget constraints.

Another interesting tid bit was that somewhere in the neighborhood of 30 billion euros have been pulled out of Greek banks in the last few WEEKS ALONE. This is the beginning stages of a run on the banks..this german news is not good either...

Greece has to give a report card to the IMF once per quarter or something...these will be real report cards or at least more real that the EZ ones..
If they get lower than a A-...no more money.

Do we really think that they will be able to take on all of these new cuts and still be able to meet IMF terms/conditions???

I guess they won't. But taht's not a problem. I'm Argentinian, and every time an IMF mission came to the country it was focus of attention. Finally what happens, is that IMF loans again money to the country to be used to pay it's debt back to IMF, obviously with a higher intrest and new terms of the deal. That's IMF business, it gives you rope so you can hung yourself and when you're about to die they "unleash" you a little bit.
It's known Greece is not going to be able to pay and to honour the terms of the aid (cut in spending, raising taxes, etc), but everuthung can be renegociated.
This is my humble point of view from my country's experience.

Yes, but it seems that the US is going to have to bail out the EZ, so who is going to bail out the US after all is said and done? Did not the US sort of bail out Europe during WWII? Who joins the US in wars? Maybe UK sends small troops and that's about it. Nobody is going to bail out the US, b/c they won't want to and also b/c they cannot.

So, I am not saying that it is going to happen now, I believe the EU keeps going down more. But perceptions and confidence change. See below daily chart, when the daily trend line is convincingly broken, then it would be the time to try and buy and HOLD, which is easier said than done. But to those who somehow can HOLD then, I think they will be handsomely rewarded. We shall see. Although it takes time, trend always change. It may be 500 pips more, it may be parity, it may be Sunday. But trends always change.

PS. A lot of smart people are having their kids learn Chinese, and that is a growing trend. There was a law that passed about a month ago, that if you send more than $50,000 offshore, you have to deposit with the IRS 30%.
http://www.prisonplanet.com/new-obam...americans.html
This is not the American way that made America what it became..A lot of people with money are not going to want to have their money here if they would have restrictions in withdrawing it. You think Angelina Jollie wants to be paid 20 million per movie and depoisit in the US if she cannot later remove it?
You think they want to be exposed to criminal charges?
http://www.businessweek.com/news/201...ax-return.html

Movie stars and Hollywood move offshore. Gensler forces US retail forex offshore. Let's see what this financial regulation bill does. You wait and see. There will be big problems in the future with all these socialist style laws.

Looooooooooooool,
i m from Germany and all i can tell yu is: don t believe this bullshit

the reality and true is: Germany will get a monarchie next year with Queen Merkel.

here u go


http://www.xe.com/

tnx man

Does anybody know how the EU trades the euro during the weekend? I'm amazed there still pumping it up. Gee, 1.2450

read with me


The markets have experienced some pretty wild moves the past few days. We had a 1000 point swing in the Dow last Thursday for which there is still no clear reason. This threw many traders for a loop as the markets entered a 7% freefall in the span of a few minutes and then recouped most of those losses a few minutes later. The following day threatened a valid retest of the crash as the markets closed on a weak note. As if this wasn't enough for traders to ponder, the markets surprised everyone with a 4% gap higher on Monday. Each of these occurrences would be difficult to account for in isolation, but string them together in less than a week, and traders should understandably be confused with what to expect next. On the one hand, the markets are showing a clear vulnerability as traders rushed for the exits last week, but it is also showing an outstanding resolve by gapping higher and holding the gap for two days.

While traders may not be able to predict the next move, it is not too early to begin preparing for an eventual outcome. Traders should be very cautious about getting too involved with the indexes as they hover just about in the middle between a possible top and possible bottom off the crash reversal. Both levels will likely have strong emotions tied to them, so it's quite possible that the markets need to digest these moves for some time. This would lead to the indexes beginning to narrow in range as traders jockey for position. At some point, the markets will be ready to make their next move and the best traders will be prepared for a move in either direction. One way to be prepared is to start making a list of stocks for each scenario.
For instance, while many are expecting the markets to head lower, it wouldn't hurt to start building a list of stocks that have weathered the recent weakness. In looking at the chart for DSW Inc. Common Stock (NYSE:DSW), it might be difficult to even pin point a 1000 point crash in the Dow. DSW gapped above a base in May but failed to hold it as it returned back into the base a couple of weeks later. It appeared that DSW would crack, but it found support at its 50-day moving average and has been able to climb back above its breakout area. While buying in this area does not provide a great risk versus reward setup, DSW could offer an opportunity in the near future if it can consolidate above the $30 level constructively followed by a breakout attempt.

http://i.investopedia.com/chartadvis...w-05112010.png

Ill move out of this country before i ever deposit 30% with the irs on funds that ive expatriated over 50k....This country is full of crooks that brew up strange ideas in their F**** up heads. Once people find out how the government really works, ppl wont stand for it any longer. A lot of unemployed people means more people to riot. Im not saying this will happen anytime soon, maybe not in my lifetime. But when it does, watch out. This is literally the basis of history for the US---Pulling down the curtain over the publics head and manipulating the media to what suits them. Its a very sick ideal....The obama admin is attempting to turn people into robots, just another number or link in the chain. Giving illegal immigrants more rights and privilages than its own people....gimme a break. Obama wants to welcome then in with open arms all the while I am paying for them and their 17 kids. But hold on, if citizens send large sums of money over borders, the govt wants to stick their sticky finger in the pie....something is not right there. So basically they are literally stealing money from the rich and giving it to the poor. Thats SOCIALISM.

read with me

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Yeap. I have one of yours Mercedes ML - 500, nice piece of

Machinery

You can find that anything EVENTUALLY can/will come true..

And I'm telling you right now, that DOLLAR will COLLAPSE.. Don't ask then

where to find me.. I'm here. Might as well copy my posts now and place them in your Archive folder

for near future reference. And it's not going to take too long to

make my statements come true, believe it or not.. Just watch..

I agree with you 100% that it will collapse....its inevitable. Way too much debt that will simply never be paid off, and no more printed bailouts as we will soon find out that doesnt work. But right now isnt the time. Its time to buy usd. Its the dollars turn to shine for some time esp with a lot of uncertainty in the equity markets and the world for that matter. When inflation comes back, it wont be good for the dollar. Im still trying to save up enough cash to trade gold and silver. When the day of reckoning comes for certain financial institutions, silver will have its turn to shine....

will i do agree with that the dollar will collapse but it will when the eur reach $1 then we will see a week dollar germany want a weak eur for them to pay 1tr. to the collapse eu country's like spain and the rest of sick dieing eu zone

The main reason we have this rally in Uncle Buck is because there is a shortage of dollars. There is too much dollar-denominated debt and no amount of money printing is going to fill the black hole. Inflationists can quote money supply numbers until they are blue in the face, but the fact of the matter is that those numbers are fake. It's fictitious capital. Deflation is here. Prepare yourself.

The banks are sitting on 1.1 trillion in reserves at the US Fed with no return. Why would they do that? Hmm . . .

just a thought

If a picture is worth 1,000 words, then in the case of the enclosed 11-year weekly chart of the EUR/USD only one or two are required to put the situation into perspective: WOW! Or, alternatively, YIKES! In recent days, we have discussed the inability of the EUR to mount any sort of rally to regain Sunday evening's short-covering high at 1.3095, which at some point would bring in another round of "liquidators." Appropriately, the "long liquidators" emerged on a Friday, ahead of the European market close, and ahead of the start of the North American session. As of the open the EUR/USD was pressing into new low territory and heading for a test of the prior significant low at 1.2330 (1% beneath current levels) from Oct 2008.

Let's notice that a downside violation of 1.2330 completes a massive 4-year top pattern that could "unhinge" the EUR altogether and send it into a vertical tailspin towards 1.1640/50 on the way to parity with the USD -- a move that certainly will get the attention of the ECB and the Fed, which vowed to defend the integrity of the EC last weekend.

Should the aforementioned downward spiral in the EUR emerge throughout today's session, we should prepare for intense and persistent Central Bank intervention, perhaps starting later today, Sunday night, and into Monday, as the "authorities" attempt to brake and preserve the Euro as some (lower) price. This could get very ugly, and is a battle the Central Banks can ill afford to lose, lest the efficacy of the world's institutions be completely undermined.

I totally agree with Kill...also the main thing is it just me and kill seeing the same thing or what....why is everyone oblivious to the fact that the charts say it all....I have posted the chart on my thread dont wish to clutter this thread..

I was going to start buliding long term positions from 1.2500 but I thought i would wait for the close on Friday...and this had totally changed my mind..right now...

Good Day..

Geppyg

http://www.fxstreet.com/rates-charts/currency-rates/

Here mate

Thanks mate

You won't believe it: i had opened position on Friday night and I slept before market close

Luckily it's not a big position but still, want to see what's going on. And since I never leave positions over the weekend I have never had a need for these over-weekends-rates-monitoring