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  • #242,661
  • Edited 8:27pm May 16, 2010 8:15pm | Edited 8:27pm
Quoting FedePresident
sorry ? If Euro disappear I'll party forever... we need to recover our national currency ( I'm Italian ) to restart to be competitive and wealthy...

Are you serious? I am confused I thought the Euro made it easier to trade etc.

How was the situation in Italy before the Euro?

Just thinking aloud:

If this were to happen and countries decide to revert back to their own currencies. Which country foots the bill?

I imagine that the transaction cost(emplyee's required, no. of hours etc) would be very high. Add to that the fall in value, halt in world trade with EZ for a small time-frame(I wouldn't sell anything to Europe when I expect the currency to reduce in value at any time, or might be gone altogether) would be catastrophic.

How do different countries decide the exchange rate for their brought from the dead currencies. The EUR took 10+ years to be introduced. Now introducing all the old currencies back would take well conservatively 15 years? Or do they say the Euro is dead, everyone is penniless.

Lets start afresh?
  • #242,662
  • May 16, 2010 8:24pm May 16, 2010 8:24pm
looks like it won't pass 2333...
oct 2008 lower are 2329
and then fly away to 25xx

dunno bout now...will it pass the lower
if not i will close my short now bcoz i have long position @2416
  • #242,663
  • May 16, 2010 8:26pm May 16, 2010 8:26pm
I will trade it towards 1.2438 limit at first - and later I will try to travel furthermore up possibly. My first entry is at 1.2338 / 33 zone. Further limits next at 1.2290 / 80 area waiting to be executed / filled if it cuts lower later.

Stops below 1.2238 - 1.2211 zone (unlikely)


http://cdn.forexfactory.com/images/attach/gif.gif 2010-05-17_NostroTracker_EURUSD_030min_002.gif (16.3 KB)




Above 1.2438 limit ? !

Possibly later a development up to 1.2476 - 1.25xx could be seen ...




Schaun wir mal





Attached Image (click to enlarge)
Click to Enlarge Name: 2010-05-17_NostroTracker_EURUSD_030min_002.gif Size: 16 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #242,664
  • May 16, 2010 8:28pm May 16, 2010 8:28pm
Some people here in Portugal are blaming the euro for our country´s current situation, most people know nothing about economics, most of them are naive socialists indeed...

With our current debt we would get burned big time outside the Euro, they would just devalue the Escudo (older currency) and it would be a nightmare.

I think the Euro will not disapear, but this crisis shows that We need centralized power, you can´t have a commom currency without commom political and economic rule.

We need Central Power.
  • #242,665
  • May 16, 2010 8:32pm May 16, 2010 8:32pm
i don't recall any weekly close, just 4 pips off the weekly H/L...



chf and eu pairs

my story and i have not wavered. thats my story and im sticking to it.. see you all at the bottom..

ej looks ripe
those who can, do. those who cant, talk about those who can
  • #242,666
  • May 16, 2010 8:41pm May 16, 2010 8:41pm
Quoting neo1599
Are there no fundamental analysis guys here?

I would love to know the fundamental story of the current situation. How does the steps taken by the ECB affect the whole of EZ for the next couple of decades? In short the future effects of the these steps.

I think its the fundamentals which are being priced in now. TA gives us a very bleak picture of the Fundamentals. Would be interesting to know the reverse.
What should the European Union do:

*exclude Greece from the European Union

*give them money instead of loans at 5%

*let them default on their debt

*take control of their budget

They're all politically difficult to do. So...
  • #242,667
  • May 16, 2010 8:43pm May 16, 2010 8:43pm
Quoting gatorinla
i don't recall any weekly close, just 4 pips off the weekly H/L...



chf and eu pairs

my story and i have not wavered. thats my story and im sticking to it.. see you all at the bottom..

ej looks ripe
WTF moment?
  • #242,668
  • May 16, 2010 8:43pm May 16, 2010 8:43pm
Quoting gatorinla
i don't recall any weekly close, just 4 pips off the weekly H/L...



chf and eu pairs

my story and i have not wavered.
Can you read me that story again? I love the ending. It makes me cry.
Si vis pacem, para bellum.
  • #242,669
  • May 16, 2010 8:44pm May 16, 2010 8:44pm
Quoting clambill
What should the European Union do:

*exclude Greece from the European Union

*give them money instead of loans at 5%

*let them default on their debt

*take control of their budget

They're all politically difficult to do. So...

Do you think its possible for EZ to disintegrate quickly? If so does what happened to USSR happen to the EZ?
  • #242,670
  • May 16, 2010 8:45pm May 16, 2010 8:45pm
Quoting gatorinla

ej looks ripe
Looking for price to break consistently the daily pitchfork...
Attached Image (click to enlarge)
Click to Enlarge Name: ej daily.jpg Size: 298 KB
  • #242,671
  • May 16, 2010 8:52pm May 16, 2010 8:52pm
GFT forex is wack

I get stopped out at 58 and they have the high in the past 20 minutes as 53
  • #242,672
  • May 16, 2010 8:52pm May 16, 2010 8:52pm
Quoting gatorinla
i don't recall any weekly close, just 4 pips off the weekly H/L...



chf and eu pairs

my story and i have not wavered. thats my story and im sticking to it.. see you all at the bottom..

ej looks ripe
Attached Image


  • #242,673
  • May 16, 2010 8:56pm May 16, 2010 8:56pm
Quoting PriceVolume
WTF moment?
may have to change to wtfy
those who can, do. those who cant, talk about those who can
  • #242,674
  • May 16, 2010 9:00pm May 16, 2010 9:00pm
Quoting Duce
Can you read me that story again? I love the ending. It makes me cry.
yes but its a musical.. there was the baby bear the momma bear bear and poppa bear. baby bear was being breast fed by momma bear for the last 6 months in the cave. poppa bear kicked the door in... and boy is he horney!! its springtime
those who can, do. those who cant, talk about those who can
  • #242,675
  • May 16, 2010 9:01pm May 16, 2010 9:01pm
Quoting neo1599
Do you think its possible for EZ to disintegrate quickly? If so does what happened to USSR happen to the EZ?
I heard someone on Bloomberg say that the 962 billion could last until August. The thing is, we don't know yet what real decision Europe will do or when they will make the decision. I'm not a fundamentalist however, I read books on trade setups using technical analysis. I do watch Bloomberg to have an idea what's going on.

EDIT: See that drop right now. I keep on being amazed. It's just stunning.
  • #242,676
  • May 16, 2010 9:03pm May 16, 2010 9:03pm
Quoting maurofx
Looking for price to break consistently the daily pitchfork...
http://www.youtube.com/results?searc...tom+petty&aq=1
those who can, do. those who cant, talk about those who can
  • #242,677
  • May 16, 2010 9:03pm May 16, 2010 9:03pm
eu already broke the support 2329
  • #242,678
  • May 16, 2010 9:05pm May 16, 2010 9:05pm
Quoting gatorinla
yes but its a musical.. there was the baby bear the momma bear bear and poppa bear. baby bear was being breast fed by momma bear for the last 6 months in the cave. poppa bear kicked the door in... and boy is he horney!! its springtime
You can't go wrong here. I say to EU, who you trying to kid. And there she goes as I type this. Gator, see you at the bottom... zero?
  • #242,679
  • May 16, 2010 9:06pm May 16, 2010 9:06pm
Quoting clambill
I heard someone on Bloomberg say that the 962 billion could last until August. The thing is, we don't know yet what real decision Europe will do or when they will make the decision. I'm not a fundamentalist however, I read books on trade setups using technical analysis. I do watch Bloomberg to have an idea what's going on.

EDIT: See that drop right now. I keep on being amazed. It's just stunning.
and then what do they do? as tax dollars drop and employment goes up? borrow more...its just that simple...dont constipate it..
those who can, do. those who cant, talk about those who can
  • #242,680
  • May 16, 2010 9:07pm May 16, 2010 9:07pm
Quoting 5abi
yep dirt easy.
..easy to be fooled.

http://en.wikipedia.org/wiki/Forex_swap


"The $3.21 trillion break-down is as follows:

  1. $1.005 trillion in spot transactions
  2. $362 billion in outright forwards
  3. $1.714 trillion in foreign exchange swaps
  4. $129 billion estimated gaps in reporting"

That $3.2 trillion is pushing $4 trillion now. Of that, still probably only 30% in spot, and of that 30%, a growing percentage, as much as 30-40% now, is HFT algos trading on the millisecond level. (This is true in futures, as well.) Those supersonic scalps are not orders showing up on any retail broker's DOM, which is joke anyway, since you can have 100,000 mini-lot "orders" (theoretically) offset by one hedge fund trade - there's no volume indicated in any DOM spot data that I have seen.

..and then, there are the swaps, which you can't see at all unless you are a tier1 banker, and the swap volume is much larger than the spot volume, but must have a bearing on it.

So don't get too mesmerized by the roadmap - its put together all nice and flashy by the same people who want you to pull off at the Stuckey's and buy a pecan log and a baby alligator...

http://en.wikipedia.org/wiki/Forex_swap

"If The Fool persists in his Folly he will become wise." - William Blake
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