EURUSD

it seems that the 138.2 fibo retracement holds as support...I tend to see a double bottom here for an up move....

Your stoch looks like it's about to hook down again.... Just saying.
Ps. Personally, I wouldn't count that as double bottom, but that's just me.

stoch is irrelevant now(has not flipped yet) as long as the 138.2 fib holds as support..it might test the fibo again before going up or break and retest the fibo from below and going down..I'm ready for each scenario

why not start a new thread all about fxbarbie?

Gl.

Has anyone noticed the H&S on the weekly chart? The possible Double Bottom on Daily might conflict with it, so be careful.
We have another Double Bottom on H1 and M30.
All TFs except H1/M30 sugest bearish scenarios.Daily is not sure yet.
The only way up I see is based on Daily(unlikely)/H1/M30 where we got that double bottom, and based on any upcoming fundies ofcourse.In case there is further up move according to those TFs, it should be limited to

1) 1.3320 area (projection of Double Bottom from H1/M30)
and in the worst case I can see
2) 1.3390 / 1.3400 wich is the downard slope of the descending trend channel (see H1/H4)
3) In case the Daily DB is real and will be confirmed, price can go as high as 1.42/1.45 but this in my opinion will not happen, since Eurozone is going down, crisis is accelerating, there are no real solutions to Europe problems on wich such a up-move would be based and no headline would provide the fuel needed to go there.


Another argument strengthening the Bearish Outlook is the Falling Wedge we have on H4, wich was broken downwards at around 1.3350, after wich it got retested and price continued down.The movement after this breakout should not be over.We are also supported to the way down by the H4 descending channel wich has worked well since the first half of the month(November).

All in all, we should wait to see what price action does Monday since we are at critical levels that might dictate what will happen in the coming week.

1.32751 @
xe.com

Market has gapped up, so further up move will be even more limited.
Opening price : 1.3273
What this means, IMO is that the small DB wont be a long argument anymore.
Stick with the trend guys.

2011.11.27 20:16:15 Euro At US$1.3286 Early In NZ Vs $1.3246 Late Friday New York

Dow Jones Newswires

still there is about hours market open .. i hope it down to 1.3180 soon

It is now near 1.3300 according to oanda.com

nice. the further up it goes, the better and more enjoyable will be the shorting.One risky thing to be aware of is possible DB on Daily, but theres no fundies for it and we got HS on Weekly + price is near the DB's support so it will get decisive soon.Good Luck!

The Telegraph: Prepare for riots in euro collapse, Foreign Office warns

British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.

As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.

Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis.

The Treasury confirmed earlier this month that contingency planning for a collapse is now under way.

A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time.

“It’s in our interests that they keep playing for time because that gives us more time to prepare,” the minister told the Daily Telegraph.

Recent Foreign and Commonwealth Office instructions to embassies and consulates request contingency planning for extreme scenarios including rioting and social unrest.

Greece has seen several outbreaks of civil disorder as its government struggles with its huge debts. British officials think similar scenes cannot be ruled out in other nations if the euro collapses.

Diplomats have also been told to prepare to help tens of thousands of British citizens in eurozone countries with the consequences of a financial collapse that would leave them unable to access bank accounts or even withdraw cash.

Fuelling the fears of financial markets for the euro, reports in Madrid yesterday suggested that the new Popular Party government could seek a bail-out from either the European Union rescue fund or the International Monetary Fund.

There are also growing fears for Italy, whose new government was forced to pay record interest rates on new bonds issued yesterday.

The yield on new six-month loans was 6.5 per cent, nearly double last month’s rate. And the yield on outstanding two-year loans was 7.8 per cent, well above the level considered unsustainable.

Italy’s new government will have to sell more than EURO 30 billion of new bonds by the end of January to refinance its debts. Analysts say there is no guarantee that investors will buy all of those bonds, which could force Italy to default.

The Italian government yesterday said that in talks with German Chancellor Angela Merkel and French President Nicolas Sarkozy, Prime Minister Mario Monti had agreed that an Italian collapse “would inevitably be the end of the euro.”

The EU treaties that created the euro and set its membership rules contain no provision for members to leave, meaning any break-up would be disorderly and potentially chaotic.

If eurozone governments defaulted on their debts, the European banks that hold many of their bonds would risk collapse.

Some analysts say the shock waves of such an event would risk the collapse of the entire financial system, leaving banks unable to return money to retail depositors and destroying companies dependent on bank credit.

The Financial Services Authority this week issued a public warning to British banks to bolster their contingency plans for the break-up of the single currency.

Some economists believe that at worst, the outright collapse of the euro could reduce GDP in its member-states by up to half and trigger mass unemployment.

Analysts at UBS, an investment bank earlier this year warned that the most extreme consequences of a break-up include risks to basic property rights and the threat of civil disorder.

“When the unemployment consequences are factored in, it is virtually impossible to consider a break-up scenario without some serious social consequences,” UBS said.

Hi guys got a question.

Foolishly left a trade open on Friday before close.

Shorting EUR/USD at 1.3233

I have a stop/loss at 1.3250

As the market has jumped to 13280

This will miss my stop/loss or what?

lol, above 1.33 now on oanda

We have to keep a close eye on the following :

1) If Italy and Spain gets IMF Funds, investors might see this as a good thing and a possible "commitment" from Italy to make reforms to be able to pay its debts.
2 ) Belgians already affected by their rate cut, are prepared to form a new government and new reforms.
3 ) According to CNBC.com EUR shares closed higher on Friday because of hopes of EU bailout plan :
" European shares closed higher on Friday after EU officials said euro zone member states were discussing dropping private sector involvement from the permanent bailout mechanism, due to come into force in 2013.
If some of these things happen or new ones appear, we might see EUR rallies. " Will this sentiment continue on?

it has done a 60 pip gap ?

the trend is down so if it rallies i wount even buy it coz io think somethings fishy or it maybe ranging !