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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #6,881
  • Nov 1, 2011 8:53am Nov 1, 2011 8:53am
I can see on the 5min chart 1.3653 as support possibly acting as a resistance now. Depends on how much the ECB wants to spend after Papendrou told the EZ to p*** off by announcing the referendum. With the G20 on Thursday it will be totally overshadowed now by the Greeces newest gambit to get out of paying anything to anyone.
  • #6,882
  • Nov 1, 2011 8:57am Nov 1, 2011 8:57am
Confidence in Europes debt market is gone. The CB's are holding up the crash right now.

The only question as a trader is, can the CB's hold against the market?
There is no saving Europes sovereign debt markets with private money.
  • #6,883
  • Nov 1, 2011 8:58am Nov 1, 2011 8:58am
Quoting seanosms
I can see on the 5min chart 1.3653 as support possibly acting as a resistance now. Depends on how much the ECB wants to spend after Papendrou told the EZ to p*** off by announcing the referendum. With the G20 on Thursday it will be totally overshadowed now by the Greeces newest gambit to get out of paying anything to anyone.
Yes this recent event may certainly derail the G20 agenda. We'll see. The G20 leaders may see Greece as small fry and rightfully focus on the bigger fish, like Italy, Spain, Portugal, and perhaps France.
One cannot predict what these unpredictable creatures do.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,884
  • Nov 1, 2011 9:00am Nov 1, 2011 9:00am
Quoting foto
Confidence in Europes debt market is gone. The CB's are holding up the crash right now.

The only question as a trader is, can the CB's hold against the market?
There is no saving Europes sovereign debt markets with private money.
The only way to save it, and I have been saying this since day one, is to federalize it. Good luck with that, so we're back to waiting for someone to pull a rabbit out of a hat.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,885
  • Nov 1, 2011 9:01am Nov 1, 2011 9:01am
ISM 50.8
expected 52.1
worse than expected
I don't care which way the market is going as long as it's going my way
  • #6,886
  • Nov 1, 2011 9:02am Nov 1, 2011 9:02am
ISM dismal 50.8 vs the 52.1 expected and down from last month's 51.6

Waiting for market reaction.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,887
  • Nov 1, 2011 9:02am Nov 1, 2011 9:02am
Quoting PipTrapper
Yes this recent event may certainly derail the G20 agenda. We'll see. The G20 leaders may see Greece as small fry and rightfully focus on the bigger fish, like Italy, Spain, Portugal, and perhaps France.
One cannot predict what these unpredictable creatures do.
Their track record of offering hope where there is little though... is pretty good.
Kill the ego, or it will kill the mission.
  • #6,888
  • Nov 1, 2011 9:06am Nov 1, 2011 9:06am
Greek two year 84.7%
Portugal two year 17.68%
French-German 10 year yield hits record spread 120 basis pts.
Italy two year 5.48%

simply not sustainable debt
  • #6,889
  • Nov 1, 2011 9:09am Nov 1, 2011 9:09am
Quoting AaronWard
Hi Kuroro,

I see you are from France... Whats your take on the long term viability of the Euro?

Hi!

Straight to the bin
COT: The precious data ignored
  • #6,890
  • Nov 1, 2011 9:11am Nov 1, 2011 9:11am
Quoting kuroro001
Hi!

Straight to the bin
LOL, that is pretty much to the point.
Kill the ego, or it will kill the mission.
  • #6,891
  • Nov 1, 2011 9:13am Nov 1, 2011 9:13am
And we go short again looking forward to the next collapse! I'm eyeing another 100 pips and then will finish for the day! short at 1.3650. S/l 1.37 t/p 1.3550. I'm breaking my own rules by setting a t/p but I have to go out and wont be able to monitor it as much as i want on the iphone so better to be safe than sorry. Happy trading everyone!
  • #6,892
  • Nov 1, 2011 9:13am Nov 1, 2011 9:13am
Yes, at this point the Euro Glee Club has managed to distract people effectively, now they are working on a soft shoe tap dance to try and prop things up a little longer, probably with help from Helicopter Ben.

When will people learn? Risky behavior that is subsidized, will be repeated. These banks and countries need to fail and pay the price. The people of Greece will find out real quick that their obstinance is basically a cultural economic suicide pact. That will then get the attention as Greece is nothing but a guppy in this sovereign debt fish tank. The only way to save Europe overall, will be to sacrifice Greece and quite a few banks.

Odd that the Euro is rallying slightly on the news of piss poor economic performance in the US. The Dow rallying as well. These people are idiots.
  • #6,893
  • Nov 1, 2011 9:26am Nov 1, 2011 9:26am
Quoting RodMca
And we go short again looking forward to the next collapse! I'm eyeing another 100 pips and then will finish for the day! short at 1.3650. S/l 1.37 t/p 1.3550. I'm breaking my own rules by setting a t/p but I have to go out and wont be able to monitor it as much as i want on the iphone so better to be safe than sorry. Happy trading everyone!
Not so sure your going to get that 100 pip move right away. With the less than stellar ISM and the need to consolidate/retrace to ease the oversold condition.
Mark ... Everything you have been told is a LIE
  • #6,894
  • Nov 1, 2011 9:29am Nov 1, 2011 9:29am
Quoting FXMindset
I am invite my friends kuroro from EU thread to here to share together,he is a nice guy and great in analysis
Please join our family mate
If FXMindset is saying he is good at analysis then he must be good because FXMindset is also great at analysis.
Kuroro welcome to this great Thread...
Bulls Run. Bears Bite. We Profit.
  • #6,895
  • Nov 1, 2011 9:31am Nov 1, 2011 9:31am
Quoting ntrprz
Odd that the Euro is rallying slightly on the news of piss poor economic performance in the US. The Dow rallying as well. These people are idiots.
It's not a Euro rally. It's an equity short covering starting from the low low SP500 discount price of 1215.
This is an overdue correction but I don't see it lasting long.
For the Euro it's a bounce off strong 1.3610 support.
Those who say it cannot be done should not interrupt those who are doing it
  • #6,896
  • Nov 1, 2011 9:32am Nov 1, 2011 9:32am
Quoting RodMca
And we go short again looking forward to the next collapse! I'm eyeing another 100 pips and then will finish for the day! short at 1.3650. S/l 1.37 t/p 1.3550. I'm breaking my own rules by setting a t/p but I have to go out and wont be able to monitor it as much as i want on the iphone so better to be safe than sorry. Happy trading everyone!
Hello there,

I am believe this Zoom out Daily chart might be very useful to you guys all,
Last week People think that we would going higher because we breaking the daily downtrend and aim higher and some of them call 1.47 even 1.5 and Yes I am agreed with them but try to look the picture once again and I think this pattern 90% valid now

Closed below 1.3717 Might be bad sign for Euro
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily.png Size: 43 KB
If there was easy money lying around,no one would be forcing it into your
  • #6,897
  • Nov 1, 2011 9:34am Nov 1, 2011 9:34am
Yea, the question is, how high shall it bounce. If it going to hit my SL again as it did at 1,422, I will be pretty mad.
"I know one thing, that I know nothing." Sokrates
  • #6,898
  • Nov 1, 2011 9:38am Nov 1, 2011 9:38am
Quoting kuroro001
Price is right under a major support, kicking it with high vol, its not a good idea to short it...Time will tell
And it pierced it....i can't get my eyes off 1,3970 guys though
Let's see if the big boys are with me or not.

First target should be 1,377x though.
Why ? Because we crushed 1,372x support and tested it again....but 1,377x hasn't been tested by a retracement yet
COT: The precious data ignored
  • #6,899
  • Nov 1, 2011 9:42am Nov 1, 2011 9:42am
Quoting Tom_D_Trader
Yea, the question is, how high shall it bounce. If it going to hit my SL again as it did at 1,422, I will be pretty mad.
Where is it ?
Bounced off 1,3700...but the resistance starts at 1,372x
COT: The precious data ignored
  • #6,900
  • Nov 1, 2011 9:47am Nov 1, 2011 9:47am
Quoting PipTrapper
It's not a Euro rally. It's an equity short covering starting from the low low SP500 discount price of 1215.
This is an overdue correction but I don't see it lasting long.
For the Euro it's a bounce off strong 1.3610 support.
Thanks. I understand that, I take care of my fathers accounts, and am much more conservative there. He was not happy with me when I went short S&P 500 one day early, got a big run up, but I look pretty smart today. I am also using an ultrashort ETF on the EURO for him, much less volatile than the real thing. So I do pay attention to the S&P resistance, but I really thought it wouldn't hold given more bad news on top of bad news, on top of worse news.

The EURUSD has been ripping through resistance levels like butter. Guess I just didn't expect any of them to hold given the problems today look worse than before their last resolution. But I guess a small retrace is acceptable. Please let the markets know I said I am only moderatly annoyed with them delaying the inevitable for a few minutes. But not much longer.
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