EURUSD

BERLIN (MNI) - The "massive" appreciation of the Swiss franc is a development that must not be underestimated, the Vice President of the Swiss National Bank, Thomas Jordan, said in the text of a speech to be delivered on Tuesday in Vienna.

In the course of 2010 the Swiss franc has risen by around 10% against the dollar and by around 15% against the euro, Jordan pointed out. "For the Swiss export sector such a strong franc is from a certain point onwards a large, in part hardly bearable burden," he warned.

"Especially in the case of a marked overshooting of the foreign exchange rate, there exists the risk that the existence of otherwise solid firms would be seriously threatened," the SNB Vice President warned.

"Given the importance of the export sector for the overall economy

impact negatively in the end on the overall economic development," Jordan remarked



Uh OH! what have i been saying, look where the franc is,...... DOUBLE BOTTOM!

So when does it correlate with a retrace? Nothing seems to turn it.

Bloomberg story lead (cited on FF home page, right hand column):

"European leaders are preparing a pledge to stamp out the debt crisis and defend the euro, seeking to keep markets at bay until a late-March deadline to bridge differences over budget rules, rescue-loan rates and buybacks."

That was the probably one thing behind the spike to '50 a bit ago (story about 20 min old).

she is hoping tht time frame for three month.

but,
you know australia will be hit by harrrican yasi tonight,
we are not knowing how much damage will is be to the coal mine sector until tomorrow. so my bias is south on aud and euro overnight.

Enjoy

http://www.discoveryinvesting.com/up...onvergence.pdf

?.. it don't matter to me. it may.. im more concerned with nfp. moodys isn't saying anything that wasn't said here for years.

What I understand is that it is Cat 5 now still at sea, will weaken over the Easterns, and be no worse than Cat 3 at landfall.

30 m says we may have missed the boat.

rain on saturated ground cant be good.

missed it.

the "early-morning-frankie-fib"-method gave me 3850.9... I'll take a nap.

Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system.

1. It seems this is the only mandate the Federal Reserve has taken seriously is providing services to its owners, the banks. Did the bankers and politicians that met on Jekyll Island to mastermind this Central Bank envision that those services would include: buying $1.5 trillion of toxic mortgages from the banks; allowing the mega-banks to borrow from the Fed at 0% and reinvest those funds at 2.5% risk free; pumping $600 billion directly into the stock market through their QE2 scam; allowing banks to falsely overstate the value of their mortgage and commercial loans; and never ever enforcing basic risk management regulations.
2. While providing Wall Street banks with billions of unearned risk free profits, 0% interest rates further impoverish the savers and senior citizens of the country. The Federal Reserve has fulfilled their unstated mandate of enriching bankers at the expense of middle class Americans.

To strengthen U.S. standing in the world economy.

1. The Federal Reserve’s affect on the world economy is best revealed by what is happening in Tunisia, Egypt and now Jordan by the increase in food costs.

http://www.socialdust.com/images/tun...ivoluzione.jpg
The Federal Reserve has not been alone in killing the American Dream. Politicians since 1913 have done their part in suffocating the dream. The tax code consisted of 400 pages in 1913 and tax rates ranged from 1% to 7%. In less than a century politicians of both parties have carved out 70,000 pages of payoffs, entitlements, and bribes for their contributors and constituents. Tax rates now range from 10% to 35%. Those 70,000 pages of rules, regulations and tax breaks do not benefit the average middle class American. They benefit those who had the money and power to buy off a Congressman.

Mass Hysteria

The country has been in the throes of mass hysteria since 9/11. The once independent, self sufficient individualists that populated this country have become dependent, government reliant, quivering shadows of the frontiersmen that created this country. In the name of safety and security, the American people have allowed their government to accumulate complete control over every aspect of our lives. Only a country in the grip of mass hysteria would allow their leaders to run the National Debt from $5.8 trillion to $14.1 trillion in less than 10 years. Only a country in the clutches of mass hysteria could believe they could get rich by trading internet stocks and houses to a greater fool. Only a country seized by mass hysteria would allow its leaders to promote democracy at the point of a cruise missile as we continue to fight $3 trillion wars in the Middle East, while nearly tripling the amount spent on Defense to more than $1 trillion per year.

The Death of America

“Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit suicide.” – John Adams
Two hundred and thirty five years ago, our Founding Fathers declared that we all had the unalienable rights of life, liberty and the pursuit of happiness. These rights have been restricted and bastardized over two centuries. Liberties have been severely restricted as your government tracks you through your social security number, is able to monitor your phone and internet communications, and regulates your education, healthcare, business, and a thousand other daily activities. The right to happiness was based upon James Treslow Adams’ view that we were free to attain ”the fullest stature of which they are innately capable”. The happiness of becoming a success through your individual exertion, intelligence and efforts has been subverted by the happiness of material goods acquired through the use of debt, peddled by the ruling class.
The American Dream where every person had the opportunity to live a richer and fuller life began to die in 1913. Every generation born in this country had an excellent chance to live a better life than their parents. Relentless progress was the American way. I have three teenage sons. Based on the actions of this country’s ruling oligarchy, I doubt that my sons will live a richer and fuller life than myself. The debts are too extreme, the military overreach too excessive, the looting by the financial class too great, the political corruption too extensive, and the opportunities too few. The dream of a social order where everyone could rise to the highest level of their capabilities regardless of their birth has been systematically squashed. With 66% of households making less than $65,000 and college costs out of reach for 80% of Americans without incurring crushing levels of debt, the chances for most Americans to climb the social ladder through educational advancement are nil. Even if they do graduate from college, the CEOs in corporate America, who “earn” 300 times the average worker, have outsourced their jobs to China and India.
The ruling class provides their children with private schooling and necessary preparation to keep their place in the social order. Wealth begets wealth. The elite send their kids to the elite Ivy League schools and use their connections with their fellow ruling elite to get them jobs on Wall Street, the prestigious connected corporations or government jobs in Washington DC. The wealth of the few has erected barriers to advancement of the many. America has progressively become a stratified class oriented society that has begun to spiral downward as the ruling class has gone too far. The revolutions flaring across the globe are occurring because the ruling class went too far and took too much. The ruling class in America should take note. They have shattered the American Dream and the retribution from those who have been swindled will be unexpected and violent.
http://www.financialsense.com/sites/...icture-165.jpg
James Quinn

waiting for a candle around 3854 for short.. the rest is almost lined up. it may rest at 3836 first,

m5

m30

second short order set if failed break through 3842

Warning: This is a useless post.

My chart says "Go Short" but respecting a legendary trader's theory that if it crosses a major round number does not stop there. Dow has crossed 12,000 mark. Therefore I am out with no position open at the moment.

That legendary trader was no other than Jesse Livermore.

i dont believe the Euro is gonna be a good short play, to be honest when that mini double top formed i shorted it, managed scrap some peeps before i exited because i felt unconfortable in my short position,

it seems like price is consolidating to the upsite, using confluence i am guessing bullish till i see how it reacts to 1.38796 my first pivot resistance point.
if we look at the bollinger bands they are contracting, and making a squeeze.
price seems to be trying to break the bands upside.

if we look at the moving averages they try to go south and now seem to be crossing upwards,
support seems to be well placed at 1.38201 touched it 3 times and bounce up.

it passed the major fibonacci projection level, major resistance, pivot point resistance of yesterday, and the daily chart looks bullish. parabollic SARs are not forming on top yet. EW on the daily seems to be on a 3rd wave.

looking at price action, the last correction is a cup and handle and it reacted to the upside.

i'm going long for now. but i could be wrong, i really dont see any major points of resistance besides psycological whole numbers.

and to be honest, lets not forget that its gaining on the USD, the USD index doesnt seem promising, dont think the euro will lose to the USD, and egypt is not a big deal at all.

the US markets didnt react, egypt's only impact on the economy is the suez canal and the markets are not concerned. oil didnt go up, egypt is only 29 exporter in the world.

The Euro zone is a mess, buts been for a while no new developements there that i know about. and even IRE (bank of ireland stock) was a good play today. i mades some money of that trade.

all point to confluence bullish on the euro

This chart indicates next stronger resistance at 1.4032. However, 1.3978 is also a major one.

Normally I would go short at the top of Blue Channel visible in the attached chart, but not playing this short for this one time.

all point to confluence bullish on the euro[/quote]

nice man... I agre with u ..i was loading longs for 3 weeks now & dont plan to unload untilll i see first weakness on daily.Whats worries me is yearly range of usd index we are at bottom atm but how deep rabbit hole go who knows.Judging my previous experience it will sink more before reversing because there are always some greedy bastards in play, in the end this is zero sum game .If nfp dont reverse trend it will just sink more for month atleast till next nfp my 2 cents

Eur/Aud is going to be approaching 1h/4h trend resistance soon ... should be good for a breakout in London session with the weather in Aussie & a quiet data night ... going long on break-out ...