EURUSD

Once we pass 3070 next stop is 3040 - 3020 - then plummet to the top end of 1.2

i agree with many things you say gator and i ve been mostly short recent. however i m back from two recent trips one in spain/italy and one in greece and i m struck by the indifference with which the people in these countries treat the current eu crisis. sure they are loosing manufacture jobs to china, they have plenty of lazy and over protected rich retired people... but the fact is that there is another element in the current world that keeps their economy afloat , i. e tourism. europe, and specially italy, spain and greece have this amazing weather, culture, literraly hundreds of towns with something to see, something any half litterate chinese/american dream about because like it or not europe is still the quintessial highest best syle of living for rich people/aspiring middle class. when you see these millions of chinese litterally invading barcelona or the greek islands, paying tens of euros just to get a glimpse of a roman casttle , paying local cab drivers who make thousands of euros a month undeclared revenues working a few hours a day only when you see that 80 % of these revenues are not taxed - no invoice at the local osteria/taverna/bar - when you see fully booked hotels in roma in december and 10 euros a sun bed in athens in october and 15 euros a beer, you start to realise how millions of europeans in these countries make a living far above what it s in the statistics, whether they are renting their summer villas or their boats, selling their home made wine or serving pasta and tacos. the euro drops, too bad, or it s even good because there will be tourists and money revenues in these countries in the next tens of year as there has been for centuries whether they pay liras, drachmas, euros or gold. so i m not worried about southern europe prosperity in the long term although in the short term a bit of shakeup for their pensions would do them just good.

done, target met.
my position is now flat.

More than 200 pips range today...another 100 ? poor unloved euros.
1,3040 next.
1,0000 then
0,0000 next final target

holy cow. some audience

closed all shorts.
http://cdn.forexfactory.com/images/icons/icon10.gif

For sure, we're looking at a 300 - 315 pip drop from 1.3300 within today. Expect a shallow break of 1.3.

DX looks to be going for another monster 4 hour bar. I see more down before a retrace. Maybe DX will take a break at 81.20, but aussie could really start tanking here soon.

Bang on!!!!!!!!! Gr88888888888!!!!!!!!!!!!!

updated.

Looks like we may ride this one together, bro.

More like the rubicon. Oops.

Very interesting first observation, they imply for many of the countries that the export growth is set to slow down by about half. While they don't give any specific reason, it is also interesting to note they believe consumption will rebound strongly, and so will imports. While much of the exports of EU countries go to other EU countries, if consumption rebounds, this should effect the exports themselves. Because a higher consumption in say, Italy, often means higher exports from say, Germany, to Italy. So they are predicting a shrinkage in exports to 3rd countries outside the EU. One of the factors could be exchange rates? Strangely enough, they might be implying that they expect a significantly stronger EUR throughout 2011. Still it is just one of many possibilities, but my advice is, if you are not already in a position, better stay aside and wait until at least 1.3045-1.3020 is cleared.

hope you made mucho dinero my friend

Next we wait. Well at least I am. I've set 3097 as my final target so I'm gonna stick with it. The pair could slide a bit more maybe, my dx resistance has a bit more room to shoot for, but I'm not interested. Will wait to see what happens here.
Have a good one

DX H4 has reached the inverse HS target. This "could" cause the EU to bounce.

its hard to belive that it came all the way down here and not testing the TL at 3080

I'm keeping it on a tight leash....

i think everyone are earning money and taking profit in recent days. lol.cheers.

Patience young padawan. NY market is going to crush euro today, believe it.

Daily screenshot is self explanatory...ascending trend line joining 1867 and 2587 lows on this daily t/f is well and truly breeched to the downside now.

G/L

http://www.easy-upload.net/fichiers/...1129154043.gif