EURUSD

hey bud ( 21vs7 ) how long have you been trading EUR USD

been around lets say 3y

rebound seen at 4hr......maybe just for correction if it still under 50 level..

....time to BUY!!!!

Sure sign the bottom is in, for now.

LoL!

i dont think . 1.2840-90 more more ...

about the same here 3 years
thats me for the day good luck

haha

seems to have bottomed, some positive fundamentals e.g. greek deal due.

but which point it ends up, is a guess, so dont short for now

Then...



Now...

Hi all.

A bit of feel, junk, cut and paste:

German trade surplus higher but industrial production declined; Eurozone Sentix investor confidence improved; ECB deposits reached a new high and German auction sees a negative yield for the first time ever. Market turns to Merkel/Sarkozy press conference, Canadian building permits and US consumer credit. Aussie is the weakest performer despite improved risk appetite after disappointing Aussie retail sales.

EURUSD fell to 1.2667 in early Asian trading but has recovered to 1.2785 during the London session. USD trades lower across the board, major European equities are lower by about 0.25% and the relative strength winner is NZD.

German data was mixed today as the trade surplus was better than expected and higher in November at EUR 15.1 bln from previous EUR 12.5 bln but the industrial production declined -0.6% in November after growing 0.8% previously. This fall pulled the annual figure to 3.6% from 4.2%.

Eurozone Sentix investor confidence improved slightly to -21.1 in January after falling to a two year low at -24 a month earlier. This marks the first improvement in five months.

In other news, the ECB said today that overnight deposits reached another high on Friday at EUR 463.6 bln, about EUR 8 bln more compared to last Thursday and Germany paid a negative yield at a bill auction today for the first time ever. It sold EUR 3.9 bln worth of 6 month bills with average yield -0.0122% from previous 0.001%. However, bid to cover fell considerably to 1.8 from 3.8.

Market volatility could increase when chancellor Merkel holds a joint press conference with president Sarkozy in Berlin today at 7:30 am ET and also at 10:30 am ET when Merkel speaks at a conference of the DBB trade union.

The NY session will bring Canadian building permits at 8:30 am ET that are expected to decline -3.1% in November after surging 11.9% in October. CAD traders should also pay attention at 10:30 am when the BOC releases its business outlook survey.

US data is limited to consumer credit due at 3:00 pm that is seen lower in November at USD 7 bln from previous USD 7.64 bln.

Market volatility could also increase at 12:40 pm when Atlanta's FED president Dennis Lockhart speaks about the US economy in Atlanta.

1.286 EMA 150 touch in H1 chart

Are you sure. My 1 hour chart reads the 150EMA around 1.2855.

Euro fx futures open interest is at the historical 300k level. This has never happened in this market. I think EUR/USD is going to blow to the upside and stay there for the 2012. Waiting for more daily open interest to drop and buying.

How could the Euro 'blow' to the upside? If they are to survive, there will be profound austerity measures. And if they can get past talking, they just might survive. We'll see.

In the meantime, it should indeed retrace to at least to the 2850+ level. The weekly charts would suggest even up past the 3050 level. But then get ready for the big dive. The weekly indicates that it will test the 1.18 level. That's too far ahead for me though.

Austerity is bullish for the currency in this case. Deficit and money supply destroys the money not government cuts.
Here, at least they are doing something, in US they are not doing anything to prevent big bang. 14 trillion of the deficit and no hope for solution.
Euro is the most liquid currency in the world. As long as Merkel will provide short term solutions, investors will jump on euro again. This decline is a panic sell off. Once stability provided , euro will gain.
Besides any EU breakout is bullish for the money. Once cancer removed (greece, ireland) euro zone will thrive again.
Interest rate can go only up.
This is my view anyways, who knows what is going to happen? Nobody. We might only assume.
Obviously I dont know how much downside it has yet to come. All I know is that smart money is buying this decline like crazy and retail traders are selling like crazy . it means only one thing - buy.

I think the Euro is going to parity this year, but I think it sees 1.31 first because that's were my current take profit is. lol

It is very interesting to see what will happen in europe. Open interest on euro fx futures is 300.000 contracts. It has never happen. Everyone is in. Soon there will be nobody left to trade this market. The price has to go opposite direction then. Beside the whole world is talking of euro's collapse. This is an excellent contrary indicator based on behavioural economics.
Lets see how it unfolds.

I once read somewhere the following:

"The market(stock,currency,other) is like a giant voting machine with individual participants registering their opinion at any given moment, as to what they think that market is worth with their dollars." "Everything that matters at this moment is calculated in the price."

Cant remember right off who that was by. I think it was Magee

Just something to keep in mind as these blowhard politicians TRY to push the market in the direction they want it to go. Even if that is against the trend.

I believe that 'austerity measures' are agreements to take care of the deficit and money supply. Europe will have to go beyond talking and put the measures into place and until the monetary community sees this take place there will be little confidence in the Euro. I hope it will be able to crawl out of its hole but this certainly will not be overnight.

Yes, the USD is not far behind. We are now spending our great-grandchildren's money and those who haven't been even born yet. If the US goes, there will be an implosion that will suck many currencies with it. I hope to be in the Carribean by then when all hell breaks loose.