EURUSD

just about out of numbers on my 5min...lol...

Looks like a Nessie pattern.

with or without NFP by the end of the quarter 1.44 ...I think it will be sideways from now atleast for a month if NFP push it too high.Technically above 50 fib of major down move on daily from 12.2009 - 6.2010. Its all about banks & performance of U.S banks was, lets not be to harsh,disaster . Also investors move from goverments bonds to stock & this transition will drive it higher. There are rumors that ECB & Bank of England will rise interest rates so following old one " buy on rumors sell on news " is on for me. Peace

whatever happen , started taking short again. 3860 may possible though after 3816.lets see .
fontu

well, when you run out of numbers, you have to wait for supply

M15

& will try to trade the M1/M5

I admit I had to look it up, but your right...lol

I fight have to do away with the Fibs on there...

im leaving this for today, eurusd at 1.3795 avg, sl 1.3828, but the entry that i loved is gbpusd because of the trendline since sep 2010, short at 1.6145 sl 1.6168, i dont think i would see that but i have a pending order on 1.6186 if i get my sl hit.

or head out for a cocktail or two...

+74 (8 X 12) -10 -12

mtd +74

Done. Closed all.

My trades for today:

EU: +80 pips
GU: +80 pips

Total: 160 pips

as I see it big money trying to throw it over the edge of 1.38, small traders not ready for that.

same to me just sl more wider both cases.
fontu

Since January 1, 2011 and late in December 2010 it seemed that the Portugal, Ireland, Spain debt issue was not a concern to the ECB and Germany. The US Dollar Index was going down and of course with 57.6 % of the Index EUR/USD has moved over the November 22, 2010 HIGH of 1.3786.

Notice how Gold has sold off even with the US Dollar Index down. Yet Oil is above $91.00 US.

The first hint of a NEW arrangement was the announcement that China has funded Portugal directly for One Billion Two Hundred Million in early January 2011.

Germany was backstopping the problem to the tune of Three Hundred Billion and Merkel was under tremendous political pressure. Bernake was causing big troubles for China and by extension to Tunsia because of higher commodity prices through the printing of unlimited US Dollars to pay the US Debt. China had stopped buying US Treasuries and things needed to change. Commodity prices rose as the US Dollar was devalued by the FED in the USA.

I will post later on part of my source material in case anyone wants to read it directly from the author.

Summary and Conclusions:

China now is buying Europe debt through the purchase of their bonds in exchange for convertibility of the bonds into Gold. China has stopped it's large direct purchase of Gold on Comex hence it has dropped which is good for China since they can accumulate at a lower price. There are new agreements between Europe and China including technology transfers and that is why the Europe has been strong in spite of ungoing debt problems.

That is not to say that EUR/USD will not go down but just to say there are new factors in place. The weaker Europe becomes the STRONGER China becomes and it unloads US Dollars in exchange for Gold and Technology. The bonds are backed by more than the US Dollars backed by Hot Air and a great Ponzi Scheme. Those are words used by Bill Gross of Pimco. Bernake is not the bad guy however the FED is in a box and the other powers that be like China and Europe know this as well.

OVERVIEW OF THE CHINA-EUROPE CARD
The Chinese are well along a full court press to secure Gold bullion and dominate in the next phase of the global chess game that will span the next decade or more. With the expansion in the European Dollar Swap Window by the Chinese, the Euro currency has risen impressively. No benefit to Gold has been realized despite the USDollar slide in the last month. One must suspect the Chinese are busy as yellow jacket bees dumping USTreasury Bonds. But also, the Chinese might have suspended some of their Gold & Silver purchases. They might have actually drained for a time the COMEX gold inventory, and await its replenishment. Enter the BIS after midnight from the loading dock. Beijing leaders might be anticipating a high volume Gold bullion purchase flow from the back door in Europe. Refer to EuroBonds bought at discount using the Dollar Swap Window, converted eventually to Gold. My guess is the harlot Intl Monetary Fund will facilitate the Gold conversion, from the EU member nation central banks associated with PIGS nations. If inadequate supply of Gold is a problem with PIGS nations, perhaps some gold swap contracts can be enabled with the help of the Bank For Intl Settlements in Switzerland. But those swaps would seal the PIGS nation fates, since they would hand over industrial, commercial, and other collateral, assuring banker elite ownership of whatever keys to the kingdom are left. Therefore, Gold is vulnerable to hits during the time China takes its foot off the accelerator pedal. China has found a way to purchase high volumes of Gold bullion at a discount. The discount is essentially the EuroBond sovereign debt discount under distress, which might be in the 10% to 20% range. So the PIGS debt will be rescued for a while, but with forfeit of their central bank gold, or borrowed gold.

Author: Jim Willie

whats your sl gbp 1.6225, eur 1.3866?

Congratulations!!!

U a da killa trader -

Elbaradei taking over from Mubarak as we speak??????? Twitter rumours so far.

H1 inverse target 3900

Daily inverse NL was breached, if price closes above it, price should continue long to 3990/4294 etc.

Nice Avatar!