EURUSD

it doesn't look good on USDJPY

i've waited enough... if you keep waiting you will miss all the trains
time to sleep now

A nice dojo on the 15 min. Time for a short term long???

we're at the upper limit of that flag. no positions here. but i still might get my 26 for a short...

wens the press conference?

If you are talking about China, it will be tomorrow. During US session I think.

They put 0:00 cet from 22:00, but nothing yet.

We already bounce off pivot point (1.3893). We should see upwards pressure for the first half of the Asian session pardoning a retest and breakage. R1 is a 1.3989 and M4 is 1.3941. 1.3913 is also where we should retest the broken trend line on the 1 hr so we should see a lot of resistance there. I still think that we will break it but my tp is 1.3938.

00h00 gmt+2, guess that means 20 minutes or so.

5m bulish broken to the up side.

bit of guess work : BEWARE (LOL). 5m retest break of bull flag. next 5m or two up to 3926 then fireworks start!

my feed is filled with gaps below us. i can count at least 5 different levels and 3828 is the lowest i have. but we don't want to go down the "filling the gap" road

i mean the eu summit one?

pair found support at tl. possible long or downside breakout. future PA will tell

Currently, I am long at 1.3894. TP is 1.3938. At 1.3938, I will go short with a SL at 1.3953 and TP ~1.3402. If we break 1.3945, I will go long again.

It already happened. They said they want China to buy the euro bonds. China will respond tomorrow.

Can someone explain to me why after the sharp rise (German Parliament pass the EFSF) there is a sudden pull back?

According to german news TV Correspondent, the Summit is still
going on. it is now of this writing 00:55 AM, indeed 1 hour past midnite. Same as in Brussel

The correspondent said he sees a high chance for a agreement "today". within a few hours if lucky i guess.
Its the negotiations with the Banks that take the most time.

The Bailout Fund will get a leverage of 4 times, with a total
leverage amount of 1Trillion (german Billion) Euro, if all goes
according to plan. All of this is of course, not official.

cheers

Easy, people are buying the Dollar and selling the Euro.

I dont think in long run it will go much higher after the dust settles euro is going down , over all crisis not going to be solved in near future ,what this has done is only bought some more time or breathing space of tonite's outcome at the meeting ,I wud be happy if I can short it from 1.4230-1.4250 area but very optimistic

Support at 1.386 if we reach it. Then 1.3852 and 1.3842 (1.3842 until 8 PM). Although it looks like it is reversing right now.
Update: Dojo on the 15 min. We are going back up.

Quoted for truth


Buy the rumor, sell the fact.

Bounce off 200 daily EMA.

The sudden drop of the Euro after the German Parliament approves the EFSF leverage once again confirms my bearish view on the Euro.
This sudden pullback let the Euro drops 180 pips against the dollar within 45 minutes and similar situation happens yesterday.
I can’t help thinking this is a planned action. Clearly some big boys are setting their short position around 1,4 level and no matter what the outcome is with the summit and EFSF this 1,4 level will not break.
Fundamentally, my bearish view comes from 3 reasons.
1.Unlike US and China, Europe is too much divided and democratic and this creates great coordination problem.
2.Low Euro is good for German export and once a bazooka emerges, the Euro will shoot and hurt the Europe export.
3.Total bank assets in Europe weight much more than their counterparties in US. Fiscal austerity also limits government spending.

Before long, I see the Euro heading south much more aggressively.