EurAnalysis

1.2960 gone ... next .. 1.2920

There could be many reasons why Eur/JPY is going up, one of them being that the Asian markets are closed for a week for the Chinese New Year festivities. The effect of which is less capital flow (from export trade) to Japan.

Back..ohhho ... price got that support eh.... now will play some serpentine action before coming down ?

I agree that 1.2945 is not the mathematically calculated daily pivot.

However, I believe he is using the actual pivot represented by last Friday's lower swing high of 1.29462 which in essence is the non-mathematical way of doing it.

Now from a purely technical perspective and what works most of the time, I say both numbers have a 50/50 chance of being the actual daily pivot, but typically, price will split the difference with candle wicks but close at the closest one.

Nobody really cares if Greece is downgraded. They are already at junk level. Even a ZZZ rating (if it existed) wouldn't make a difference. The fear here is contagion. It always was. A total Greek default was priced in long ago.

S&P 500 needs to test 1260/1270 area sometime this week as it blew by the 200 day moving average without retesting it before continuing upward. Now that price has reached the 78.6% fibo level (The decisive level), it is time to correct. From a Fibo perspective, we need to test the 61.8 level and possibly the 50% level. There you go... a confluence of Fibo, 200MA and rising trend line.

So that means risk-off cycle starts soon, bringing E/U pair down with it.

OK I can see that. If he would put add a bit more context to those numbers rather than just throughing them out there like that might be helpful.

Well you can't expect much from a free analysis from a Cyprian broker

PT, have that big hammer anywhere near to you?

Looking to buy between 1.2964 and 1.2922 (maybe @ 1.2948 because 1.2944 is the short traget) LONG target = 1.3080 (1.3167 - 1.3205)
SL should be @ 1.2922 because it's the bearish breakout triggering new sell position

comment?

http://www.actionforex.com/action-in...0120124158038/

Snippet:

Mid-Day Report: Yen Sharply Lower after BoJ Shirakawa Warned of Delayed Recovery

Japanese yen is sold off sharply across the board today after BoJ governor Shirakawa warned that economic recovery has been delayed from the expectation of first half of fiscal 2012/13. Shirakawa said that Yen has shown "upward moves due to broad euro selling" as impact of the sovereign debt crisis. EUR/JPY weakness hurt corporate sentiments and erode Japan's export competitiveness. Earlier today, BoJ left rates unchanged at 0-0.1%, and it's asset-buying program at JPY 55T, as widely expected. In the accompanying statement, the bank noted that economic activate has been "more or less flat" due to "a slowdown in overseas economies and the appreciation of the yen". 2011 fiscal year growth forecast was lowered to -0.4% contraction while 2012 projection was lowered from 2.2% to 2.0%. 2012 and 2013 growth prospects were "broadly unchanged" and the bank expect economy to return to moderate recovery in first half of 2012 fiscal year.

Elsewhere, Euro is mixed despite successful Spanish bond auction and positive economic data. Spain sold EUR 2.51b of bills today, meeting maximum target of EUR 2.5bv. The three-month bills was at average yield of 1.285% versus prior 1.735% in December. The six-month bills was at average yield of 1.847% versus prior 2.435%. Demand was solid with bid-to-cover ratio of the three month debt and six-month debt at 4.32 times and 6.87 times respectively, stronger than prior 2.86 times and 4.06 times. PMI data from Eurozone showed more than expected improvement. Eurozone PMI manufacturing improved to 48.7 while PMI services rose to 50.5. German PMIs were strong with manufacturing PMI rose to 50.9 while services PMI rose to 54.5.

Euro is weighed down by uncertainty over the Greek situation after Eurozone finance ministers rejected private investor's proposal on the debt swap deal. Greek finance minister Veneizelos insisted that the negotiation is entering the final stretch and he believes that "everyone has now realized that Greece must be supported in its effort, which is of vital importance not only for us but for the euro zone as a whole and the global economy." IMF chief Lagarde said she's "determined to be positive".

But clearly, the common ground between private bond holders and EU are not found yet. IIF has said they made the "maximum" offer already but Dutch Finance Minister Jan Kees de Jager said the offer would leave's debt "substantially above 125% of GDP in 2020, missing the target of 120% of GDP. Luxembourg Prime Minister Jean-Claude Juncker said that the Greek program is "off track" and he demanded new coupon rate to be below 3.5% until 2020 and below 4% over the full 30-year period. IMF also raised the concern that the proposed plan would leave Greece with higher than expected debt burden. Venizelos expects to present a formal offer to creditors by February 13.

That is funny. Don't think I'd trust $10 to a Cyprian broker.

so far the 60m uptrend is holding as price stalled at the confluence of fibs and pivots and MP POC.....now to see if the open of NYSE moves price either way....

http://globaleconomicanalysis.blogsp...aries-and.html

Snippet:


Premature Dollar Obituaries and Mainstream Economists' Monetary Insanity; Keynes-Inspired Great Depression; Lessons Not Learned




A pair of articles by Austrian economist professor Antal E. Fekete just might have one wondering who is more in the loony bin, mainstream economists like Krugman or those consistently chanting about the death of the dollar coupled with hyperinflation.

Premature Obituaries

Please consider Premature Obituaries

It is open season for wild monetary prognostications. More premature obituaries on the dollar have been posted on the Internet. For example, see Jim Willie’s The US Dollar Paper Tiger (Gold-Eagle, January 11) with epitaphs like “the U.S. dollar rising to the cemetery”, or “dollar death dance”. Or see another article, Jeff Nielsen’s entitled Maximum Fraud in U.S. Treasurys (Gold-Eagle, January 3). It betrays maximum misunderstanding about keeping the dollar on a life-support system. It assumes that the Fed and the U.S. Treasury are fighting tooth and nail to keep the value of government debt high lest it collapse in want of support from Japan, China, and other countries.

All views are useful Read On If You Wish...

We're below the daily pivot now.
So obviously price has to test it as resistance. Then we shall see.

Rumor has it that BIS was seen buying at 1.2950

... keeping it, may need to wait for a while ... for a better intersection point when (Time ^ 2) match with (Price) ...

http://www.forexlive.com/wp-content/...logo/logo3.gif

IMF cuts 2012 global growth view to 3.3% from 4%

Written by Jamie Coleman
January 24, 2012 at 15:04 GMT

Euro zone crisis accelerating, hurting growth prospects

Emerging markets forecast trimmed to 5.4% from 6.1%

US 2012 growth view unchanged at 1.8%

Japan cut to 1.7% from 2.3% in September forecast

Euro zone growth forecast slashed from 2.7% to 1.1%

= USD Bullish

already did. see the pin?

channel interesection points arent time = price spots mate.
the vibrations of natural ccyles or static cycles or some counts (fib or fractal or whatever) is where "time is on the chart". or natural Astral relationships - or when specific natural vibrations and harmonics happen before and in the future - thats where time is.

also where TL's meet arent really where time meets. its where price meets.

time = price isnt where lines meet - its where it just already is there - all u need to do is find.