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  • #244,361
  • May 19, 2010 4:38am May 19, 2010 4:38am
this pint sized 15min triangle must decide whether 61.8 fibo at 2259 could be reached.
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Click to Enlarge Name: eu7.gif Size: 19 KB
  • #244,362
  • May 19, 2010 4:41am May 19, 2010 4:41am
Being common practice to sell gold against $ to support € and £ lately.
Then buy it back.

Must be stressful in the end.
They think they are smarter than I am.
  • #244,363
  • May 19, 2010 4:41am May 19, 2010 4:41am
Quoting Mr J
It already is. It has been dropping at a similar rate for a few weeks.



Value doesn't matter, Aud dropping is the result of risk aversion.
You had a 0.94 for aud/usd
you are right about the risk aversion.

In my view AUD is trading way to high, but I've been said that for months.
23 million people having a currency almost as strong as USA and at 1.4 with EUR.
Based on gold, copper and housing.
Imagine that.

Got to love the markets.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #244,364
  • May 19, 2010 4:44am May 19, 2010 4:44am
The Euro resumed its downtrend yesterday, and hammered at 1.2445 high, the pair plunged to 1.2145, reaching the 50% retracement of the 2000 - 2008 rally, which according to Karen Jones, technical analyst at Commerzbank, will limit the downside.

The Euro has reached major support area at 1.2135, which according to Jones, has limited risk/reward ratio for Euro shorts: "EUR/USD has again seen another aggressive sell off towards major support at 1.2135/the 50% retracement of the entire bull move from 2000. We viewed the downside as now limited and the risk/reward for holding shorts has diminished. We would be surprised to see the market start another leg lower without some consolidation."

Upside moves are expected to be shallow, says Jones, with resistance at 1.2445/1.2510: "Rebounds are expected to remain shallow however, finding initial resistance at 1.2445/1.2510."
  • #244,365
  • May 19, 2010 4:45am May 19, 2010 4:45am
Greece's woes to spread, says 'Dr Doom' Nouriel Roubini

 

  1. From: AFP
  2. May 19, 2010 10:15AM




GREECE'S woes may be the start of a widening sovereign debt crisis that could tear through developed economies, including Japan and the United States, leading economist Nouriel Roubini has warned.

"What's happening in Greece is just the tip of an iceberg of a broader range of sovereign debt issues, of deficit, in many advanced economies,'' said Dr Roubini, known as 'Dr Doom' for being one of the few experts who predicted the financial crisis
The new crisis could occur "not just in the eurozone but UK, US, or Japan,'' he said overnight.
Dr Roubini, speaking at a London School of Economics conference, said there was an "economic recovery, but in many ways countries have not answered the real problem.
"The next stage of the crisis could be a sovereign debt crisis that could lead to a double-dip recession.''
He reiterated his view that "there is a possibility of a break-up of the monetary union''.


"One or more countries of the eurozone could default,'' said the New York University professor.
"Some of the weaker members of the monetary union might decide they'll be better off exiting.''
Greece has been forced to promise deep public spending cuts in return for a huge bailout from the European Union and International Monetary Fund to keep its debt-stricken economy afloat.
The austerity cuts have met with fierce public opposition and triggered a wave of strikes and protests.
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  • #244,366
  • May 19, 2010 4:45am May 19, 2010 4:45am
Quoting aRiEs-NTT
I am in a dilemma now. I enter sell @ 1.21873 and buy @ 1.22084 (when the market moves towards North).
Now i find myself panicking.
Which way will it goes first?
Should I give up my long position for now? Or hold on as after a deep downtrend it will move back up?
NTT = Nusa Tenggara Timur?

I'll wait until 1.224-1.225 to close long, it is where intraday traders wait to sells. In case price move to 1.227 then close your short. Of course we hope for the price to retrace at least to 1.22 then close your short. In case of down move close your short at 1.2000-1.201 and hoping for rebound at least to 1.202-1.203 then close your long. DON'T EXPECT TO GET BOTH IN GREEN.
  • #244,367
  • May 19, 2010 4:50am May 19, 2010 4:50am
Quoting DMA Trader
You had a 0.94 for aud/usd
you are right about the risk aversion.

In my view AUD is trading way to high, but I've been said that for months.
23 million people having a currency almost as strong as USA and at 1.4 with EUR.
Based on gold, copper and housing.
Imagine that.

Got to love the markets.
Agreed, silver is sliding, aud/usd heading below 0.80.
  • #244,368
  • May 19, 2010 4:51am May 19, 2010 4:51am
Quoting DMA Trader
You had a 0.94 for aud/usd
you are right about the risk aversion.

In my view AUD is trading way to high, but I've been said that for months.
23 million people having a currency almost as strong as USA and at 1.4 with EUR.
Based on gold, copper and housing.
Imagine that.

Got to love the markets.
Population doesn't determine fair value of a currency.
  • #244,369
  • May 19, 2010 4:52am May 19, 2010 4:52am
Quoting Mr J
Population doesn't determine fair value of a currency.
well will just have to see that
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #244,370
  • May 19, 2010 4:53am May 19, 2010 4:53am
Quoting DMA Trader
well will just have to see that
how do you explain the CAD??
  • #244,371
  • May 19, 2010 4:59am May 19, 2010 4:59am
ECB’s Weber: Greek aid package puts severe strain on institutional framework of euro zone

Introducing an insolvency option for states would be an important part of reforms
  • #244,372
  • May 19, 2010 5:10am May 19, 2010 5:10am
Quoting Mr J
It already is. It has been dropping at a similar rate for a few weeks.



Value doesn't matter, Aud dropping is the result of risk aversion.

Risk adversion and some negative comments from the RBA about interest rates being at normalised rates now - which is where the RBA said many mths ago it would stop increasing
  • #244,373
  • May 19, 2010 5:21am May 19, 2010 5:21am
http://www.forexfactory.com/attachme...1&d=1274264267
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd19.05.10falling knife.gif Size: 15 KB
  • #244,374
  • May 19, 2010 5:23am May 19, 2010 5:23am
Can't believe last year they would replace the USD with Amero


freaking markets
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #244,375
  • May 19, 2010 5:26am May 19, 2010 5:26am
looks like small break out to the north is in the works.
  • #244,376
  • May 19, 2010 5:27am May 19, 2010 5:27am
Quoting acidburn123
looks like small break out to the north is in the works.
what TF you talking about?
  • #244,377
  • May 19, 2010 5:28am May 19, 2010 5:28am
Anyway price got to move soon north or south, can't tell yet.
  • #244,378
  • May 19, 2010 5:29am May 19, 2010 5:29am
I see long bearish candle in a/u. Usd getting stronger. Will see how far it goes. Than take long position there. Let you know than. Wish you all greens.
Regards, Shigeru.
  • #244,379
  • May 19, 2010 5:29am May 19, 2010 5:29am
Quoting acidburn123
looks like small break out to the north is in the works.

scratch that.
  • #244,380
  • May 19, 2010 5:30am May 19, 2010 5:30am
Quoting DMA Trader
well will just have to see that
No we won't, because it doesn't work that way. Some suggested Canada, I'll suggest Switzerland: one-third the population of Australia, one-fifth of Canada, and one-ninth of the UK.
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