EURUSD

This Forexfsa guy is just another ignorant prick.
The type of people in the forex community that deserve to lose all their money..............and they will, trust me on that.

They lack the proper attitude.

mornin...

Please use the link to reference this article. Do not copy & paste articles which is a breach of FT.com's Ts&Cs (www.ft.com/servicestools/help/terms) and is copyright infringement. Send a link for free or email [email protected] to purchase rights. http://www.ft.com/cms/s/0/b3676b46-f...#ixzz15hOJW4b5

Anger at Germany boils over

By Peter Spiegel in Brussels and Gerrit Wiesmann in Berlin
Published: November 16 2010 18:13 | Last updated: November 16 2010 20:23

When George Papandreou, the Greek prime minister, this week aired frustration with Germany for pushing the eurozone to the brink of another debt crisis, he was saying publicly what other senior European officials and diplomats have been saying privately for weeks.
The drive by Angela Merkel, the German chancellor, to rewrite the European Union’s treaties to set up a new bail-out system for future Greek-like collapses – and her insistence that private investors bear more of the cost of such rescues – was quietly resented when she bulldozed it through last month’s summit of EU leaders.
http://media.ft.com/cms/40c26fce-f22...144feab49a.jpg
Angela Merkel at the CDU party congress. She is seen to have dug her heels in over bail-outs

EDITOR’S CHOICE

Gavyn Davies: Eurozone must compromise - Nov-16


Opinion: Europe’s laggards must pay premium - Nov-16


Opinion: The price of German leadership - Nov-16


In depth: Eurozone in crisis - Nov-17


Global Insight: A fight to retain sovereignty - Nov-16


Market Insight: Lifeboat under strain - Nov-16




But as bond markets have reacted and plummeted in the weeks since, that resentment has begun to boil over, with increasing accusations that Ms Merkel has put many of her fellow eurozone leaders in untenable positions in order to reinforce her own standing with German taxpayers.
“They’re unprintable at times,” said Daniel Gros, director of the Brussels-based Centre for European Policy Studies, of the angry remarks he has heard aimed towards Berlin.
German officials insist their campaign to get private bondholders to shoulder more bail-out costs is not just about domestic considerations. The government is more concerned that the current system – which condemns well-managed states to bailing out badly managed ones – is unsustainable.
But even some of those well-managed states have expressed anger at German tactics. Countries such as the Netherlands, Finland and Austria, all normally allies of Germany in economic governance issues, have raised questions about Berlin’s behaviour.
Anger first arose in October after Berlin cut a deal with France over the new bail-out system, even as it was working closely on economic reform issues with several of its allies among the northern, fiscally prudent caucus.
Ever since the deal was struck, Germany has slowly lost support for its hardline stance on the new rescue mechanism and has been forced to back away from its original ideas about setting strict rules for private investors’ role in a bail-out “ex-ante”, or before a rescue even occurs.
“Everybody should be more [of] an owner of this process; it shouldn’t just be Germany,” said Mikolaj Dowgielewicz, Poland’s EU minister.
Senior EU officials have become increasingly alarmed by the internecine sniping. Olli Rehn, the EU’s top economic official, on Tuesday called for leaders to “restore the sense of unity” and to end the “somewhat divisive tone in the public debate”.
Several European officials said, however, that Germany was unprepared for the market’s angry reaction to the bail-out proposal and has since begun to backtrack. Two senior officials briefed on deliberations during the G20 summit in Seoul said a statement put out there by finance ministers of the EU’s five largest economies, in which they reassured bondholders that no current owner of debt would be forced to pay for a sovereign bail-out, was in part a concession by Berlin that it had overplayed its hand.
Mr Gros noted the dust-up is the second time Ms Merkel has pushed the eurozone into turmoil by digging in her heels on what, to her, is a principled stand against bailing out profligate member states. Earlier this year, Ms Merkel refused for months to offer concrete help for Greece until forced into action in May by an angry bond market. “That is the fundamental flaw in Merkel’s approach,” Mr Gros said. “What she somehow doesn’t get is that markets are not like political systems. They anticipate things. And they anticipate vaguely, not rationally.”
As the turmoil has gathered steam, German officials have insisted they are sympathetic with Ireland’s plight, particularly since Dublin was the first “peripheral” EU economy to slash budgets to try to get its fiscal house in order. Berlin has repeatedly insisted that they are not putting pressure on Ireland to accept EU aid.
At the same time, Berlin has grown frustrated with Dublin’s handling of the crisis, believing Irish officials have failed to inform other eurozone members how they want to move forward. But Berlin appears prepared to tough it out, despite the criticisms from the likes of Mr Papandreou and Jean-Claude Trichet, the European Central Bank president who loudly opposed the German move to reopen the treaties for fear that the markets would react exactly as they have.
German officials acknowledge that uncertainty over the future bail-out system is not ideal, but they insist they need more time to work out its details.
Additional reporting by Joshua Chaffin in Brussels, Quentin Peel in Berlin and Ben Hall in Paris
Crisis resolution: main policymakers in the bail-out debate
Angela Merkel German chancellor. Ms Merkel and Wolfgang Schäuble, finance minister, have not taken an active role in cajoling Ireland to apply for emergency aid, government officials insist.
This reflects Ms Merkel’s wish to avoid further criticism. Berlin’s call for a sovereign insolvency mechanism is widely seen as having spooked bond market investors. Ms Merkel is also confident the eurozone rescue mechanism, agreed in May, will be able to provide timely financial aid should Dublin request it.
Despite protests from the European Central Bank and some governments about tabling the subject while the bloc still works through its sovereign debt crisis, she is resolute the eurozone must agree a “crisis resolution mechanism” that would allow governments with big debt burdens to ask creditors to reschedule or forgive debts.
José Manuel Barroso European Commission president. Mr Barroso has publicly said the Commission is prepared to deal with an Irish bail-out should it be needed after the European Union set up new rescue mechanisms in May.
Although some have accused the Commission of pushing Ireland to take the bail-out, his spokesmen have firmly denied it. But officials acknowledge they have been in touch with Irish authorities and Mr Barroso has played the role of conciliator. If a bail-out occurs, he could be thrust front and centre. The portion of the €750bn ($1bn) rescue system that is easiest to activate is a €60bn tranche the Commission has been empowered to raise, underwritten by the EU.
Jean-Claude Trichet European Central Bank president. The ECB has pushed for swift action by Ireland that would restore confidence in its banking system and public finances. The EU’s bail-out facility could be used by Dublin to help its banks, it believes, but the ECB says it is up to Ireland to decide whether it wants to apply for outside help.
The Irish financial system is the ECB’s most immediate concern. The fear is that Irish politicians are assuming the ECB will continue indefinitely to provide unlimited liquidity to banks.
Ireland accounts for a quarter of the liquidity the ECB is pumping into the eurozone financial system. But conditions elsewhere in the eurozone are strengthening the case for the ECB to unwind its exceptional liquidity support.
Brian Lenihan Ireland’s finance minister. The man in charge of Ireland’s economic policy has appeared most resistant to a bail-out. He has framed any deal as part of a wider EU move to shore up the euro. As he told Irish radio on Sunday: “We have not, contrary to much speculation, applied to join any facility or avail of any facility. But of course we’re an interdependent part of the eurozone and we’re in constant liaison with the central bank and the Commission.”
Brian Cowen Ireland’s prime minister. In recent weeks, Mr Cowen has denied that his country is in the market for a “bail-out”. “The use of pejorative terms, precisely because they are ill-defined and mean different things to different people, are adding to the confusion,” he said, as the crisis developed. But speaking before Tuesday’s meeting of eurozone financial ministers in Brussels, Mr Cowen also admitted that Ireland was “engaged with our counterparts in discussing with them how best we can underpin banking and financial stability”.
Patrick Honohan Irish central bank governor. Mr Honohan seemed to allude to the likely shape a bail-out might take in a speech last week. He told the International Financial Services Summit in Dublin: “Presumably overcapitalising the banks would also help build confidence, but this is not something which the state can lightly be asked to do given the pressures on its finances.”

i see eu now progress to 1.3583...wanna test support level..psiko price

http://cdn.forexfactory.com/images/attach/png.gif 2010-11-19_05h09_ChartStation_EURUSD 015min _ 000.PNG (111.7 KB)


EUR/USD : Asian Session


BTW ... we are short since 1.3655 ... further pending orders at 1.3692/ 95 ...

First profits at 1.3623/ 19 ... further in 1.3613 - 1.3597 zone expected atm ...

Sell the rallies mode again ... after we reversed our longs from 1.3530 near 1.3652/ 55 ...


1.3612 done

First round-turn => 43 green points


Someone mentioned there that some of you like to count it with multiplier if done with more than 'one position' ... that is naive miscalculation ...

Not conform with a pip moves thoughts ... if I would calculate it that way then better ... ach was solls ...

Where is the sportsmanship then ?



palim palim


;-)

The 12.5% Irish corporate tax has been one of the main reasons for the strong Irish growth over the last two decades and it is heavily resented by other European countries. This low tax rate must go if Ireland is to receive any aid package

this is a warning....

i mean those guys are nice enough to give out valuable info that retailers wouldnt normally have access to....at least give the dudes credit

It seems its about to resume its hourly downtrend.

Morning to all . so going well eu & last phase of the pa sketched last night before bed , make a spike up before the fall .
fontu

That big up bar from yesterday still providing good support, a close below 3574 on the hourly could bring some bears back....

Come on, most of us have more than one forex website open anyway. No need to copy and paste from one to the other. Please stop it. If you continue it will only backfire (for example free services will become available to subscribers only)...

nice chart.

yes but most random way of the candles pattern in supporting , no master, no ibs there to avoid next sell off , already in bet though for good fall at least below the pride level 3334, to 3214 to more 3055.then do the correction as far possible .

Anyway though no took this up as a 4th one but when came in shape expected it up towards 3732 or nearer not happen , continue respect previous expanding triangle .Time still not there ? may be yes if there come a wind & so just carefull about .


usdchf also need more pullback towards 0.9926 to 0.9895 , corresponding to eu up spike 3664 ,may be before the up the parity perhaps .
fontu

Bugger all news on the wires today showing in a pretty slow day all round.

maybe...
Sorry for messy chart.

I am talking about this Forexfsa guy.

NOT about the Forex Live team, which is one of the best in the industry !!!!!

News message h3 { font-size:14px; } p { font-size:12px; } It's been yet another rumour driven Friday in the absence of fresh leads; with mild [RISK AVERSION] having returned on mkt talk (same as last wk) that China will hike rates today/or the weekend alongside a wire rpt that HK will announce measures to curb property speculation after the stock mkt closes. Following yest's steep gains across stocks, commodities and high growth currencies, the market driven rumours have provided a good excuse to trim long positions into the weekend. [STOCKS] are back to hovering in the red, with both HK's Hang Seng and the Shanghai composite index having shed 1.5% for the aftn. Aust's S&P/ASX 200 is also hovering 0.24% lower in the final hour of trade, whilst Japan's Nikkei 225 has trimmed its opening steep 1% gains to under 0.20%. Commodities have pulled back alongside stocks, with Dec [CRUDE] hovering back under $82/brl and [GOLD] falling $12 from its earlier peak to $1350/oz.

Heyoh Mofos!

What's shaking?

Forexfsa, listen very carefully to what Mfoste has said.

The material you're copying is copyrighted and while it's given away for free, it's bad form to just copy it without giving out proper credit.