EURUSD

Well, I'm not liking it. Did it on my e/j too... So 20 pips on the follow for sl is not good if these basterds are goind do that!

Now John Taylor runs the largest hedge funds in the World. Check out his prognosis of an eminent currency war and implications. Stay warned if you live in USA and EUROPE. Pull and save as much as you can between now and end year.

John Taylor Parallels Current Situation To World War 2, Predicts Global Debt Structure Could Collapse

Zero Hedge
Thursday, October 21, 2010

After the Phoney War, Things Really Got Nasty
October 21, 2010
By John R. Taylor, Jr.
Chief Investment Officer

Not too many traders remember ‘the phoney war,’ or the Sitzkrieg, as it happened 71 years ago. After Hitler invaded Poland on the first day of September 1939, Poland’s European allies France and England declared war on Germany, but nothing significant happened on that front until the following May when the German Army rolled through Luxembourg, the Netherlands, and Belgium and into France. Although the horror started in Poland in the fall of 1939, for a few months, the rest of Europe was spared that horror, which eventually lasted through the next five years. Strangely, this past September (2010), the US equity market rose by about 8.8%, its best return for that month, since that same September (1939). To me the parallels are ominous. What were those people thinking back in 1939? Could a coming world war have that positive an impact on the economy and on markets? They must have been crazy – of course equities gave up their gains and were cratered in May 1940 when Germany invaded the west. But, what are we thinking of now? A war has just begun. Didn’t Bernanke and the Fed announce in late August at Jackson Hole (and multiple times since then) that the US was going to enter QE2 and debase its currency setting off a currency war. Bernanke, like Hitler seven decades ago, had been warning everyone who would listen for years.

On November 21, 2002 he said that he would debase the US dollar if the American economy looked as though it would go through the same lost decades that the Japanese have recently endured. Now, it is clear that he has been true to his word and the currency war has begun. Although it took Guido Mantega the Finance Minister of Brazil to state the obvious saying that “an international currency war” had broken out, the reaction at the recent IMF meetings and among analysts of all stripes make it clear that this situation is well comprehended by everyone who is paying attention. The US has thrown a rock through the world’s plate glass window. This country will be severely disrupting the current global monetary system because the Federal Reserve – and not necessarily the Obama administration – believes that the status quo is not in the interest of the American people.

Right now the world is in the ‘phoney war’ period as the US has only just begun the process of flooding the world with excess dollars. The recent IMF meetings had and the coming G-20 meeting will see lots of venting and some skirmishes but no real attacks. Countries are complaining loudly because Bernanke’s excess dollars are being sold and their own currencies are being purchased, rising as the dollar declines. As most are trying to slow that rise by buying the dollars as reserves, reserves are climbing, their money supplies are ballooning, and inflation will surely follow. With inflation and strong currencies, these countries will see their trade positions destroyed. The real war will begin as countries place restrictions on capital flows. Mantega seems as though he will make a good economic general as Brazil is one of the first to move, taxing bond inflows. Interestingly the Brazilian leaders will miss the G-20 meeting in Seoul, avoiding any direct discussion of their actions.

Capital controls are likely to spring up in Asia and in other attractive economies during the next few months, but the really destructive war begins when tariffs appear. This should happen next year – maybe in May, mirroring 1940 – because by then the next recession should be in full force in both the US and in Europe, forcing many millions more out of work. The political pressure for raising tariffs in the US is intensifying and the new Tea Party supported Congressman will help tip the political scales in that direction.

This war will not be fought for territory, but for markets and wealth, and when tariff walls are raised the destruction of livelihoods and property will be almost as dramatic as in the old fashioned shooting wars. With the loss of economic value, the global debt structure must collapse and entitlement promises will not survive.


Source:
http://www.prisonplanet.com/john-tay...-collapse.html

i just read the article in ny-times...

a dream come true. asian session, dollar rises, euro session, dollar rises, ny session, dollar falls. set and forget

Cheers PV, thinking back on this story from before, sounds like MT is a deal easier to use trailing stops on than IG (they use some kind of 'advanced charting' through something called 'IT-for Finance'. Whenever I have tried to use it I have managed to bugger up any profit I already had and simply cut off my trade. Hmm, mee thinks I'll leave it

anyone here know how to convert an mq4 indi to lua?

Nice ......

dollar rising, alot of EURO bagholders now, anyways good luck

to many reasons to name about s/r between 3930 3900..... but below is a easier path 3840 3814 ect.. add the chart posted earlier.. today low was target #1..311921 also 3896 about is the same imaginary line that stopped the move earlier.

not copmarable.

why not?

it looks like that is the routine now..and vice versa... the first two weeks of the month is london buying and ny selling anf the other 2 weeks is london selling ny buying..

Good Evening Mr Hatch,

How was your trading day yesterday...we were all speculating bullish on the euro and suddenly a nice drop of a sharp knife.. this thing is hurting everyones system..i believe..mine might need a thorough evaluation

hi, i slept throughout the day, had one pending that didn't get triggered, so no trade.

you are literate enough so draw conclusion by yourself...

http://cdn.forexfactory.com/images/attach/pdf.gif

2010-10-22_01h35_ASIA DAILY FOREX OUTLOOK - Majors.pdf (14.7 KB)





ASIA DAILY FOREX OUTLOOK - Majors
22 Oct 2010, 01:35

SINGAPORE (Dow Jones)


EUR/USD - to consolidate with risks skewed lower. Pair weighed by positions adjustment before weekend and G20 meeting; weaker-than-expected euro-zone October composite PMI (fell to 53.4 from 54.1 in September, vs 53.7 forecast). But EUR/USD downside limited by positive global risk sentiment, EUR demand from sovereign central banks, expectations of more QE measures from U.S. Federal Reserve. EUR sentiment also soothed by surprise rise in German October services PMI to 56.6 in October from September's 54.9, and manufacturing PMI to 56.1 from September's 55.1 (vs forecast for drop in both PMIs to 54.5). Data focus: 0800 GMT German October Ifo business climate index, 0900 GMT EU 2Q balance of payments (2nd release). EUR/USD daily chart mixed as MACD bearish, 5-day moving average staging bearish crossover against 15-day, but stochastics neutral. Support at 1.3872 (yesterday's low); breach would expose downside to 1.3824 (hourly chart), then 1.3696 (Wednesday's low), 1.3635 (Oct. 5 low), 1.3558 (Sept. 30 low, matching 38.2% Fibonacci correction of 1.2584-1.4161 Aug. 24-Oct. 15 advance) and 1.3380 (Sept. 28 low, just above 50% correction). Resistance at 1.4038 (hourly chart), then at 1.4051 (yesterday's high); breach would expose upside to 1.4161 (9-month high set Oct. 15), then 1.4197 (Jan. 25 high), 1.4216 (previous base set Dec. 22, 2009) and psychological 1.4500.



;-)

most of the sausage making is above us..small tf crap.. target at 3863.5 may slip to 3840.. a bounce is not written in stone but i will not be surprised with one here.
currently @ 3896

that's purely bragging and showing off to me... i don't like that, as it doesn't have any use, as you already stated.
possibly one should beg to be filled in? - never... ;-)

youve been writing a lotta 2s instead of 3s hehehe

maybe thats a sign lol

ciao Gator,

could di bounce up hit today pivot (3947) and then down again this night to 3865??


I.

you have not responded to my query sir??