EurAnalysis

Yup, they seem to be the best right now. Pinbar showing on the hourly and USD not breaking 79.600 (again).

EUR/JPY's recovery is probably over, says Societe Generale, and the cross should now head toward the 99.00 - 98.95 support level.

I have NO IDEA if they are right since news can get in the way of charts however I will watch just in case. The reason to watch is that EUR/JPY going to 99.00 will bring EUR/USD to well below 1.3000 and that is probably strong Round Number support.

On the other hand there are so many shorts in EUR/USD ONE POSITIVE whether TRUE or NOT can cause a very strong short squeeze.

I will stay on the sidelines looking to see what happens towards Noon today. There will be many chances to trade however now my Trade Plan is NOT TO TRADE !!!

Hi buddy, i know nial. an nside bar is an inside bar so i guess they all trade the same way perhaps the entry/exits are different. I have been doing small trades of .50 and £1 using DIRECTIONAL MOVEMENT and this has been quite successful. i was going to send you the trades but like i said they wont send. Take care

Hi Billyt,

The PM function was active again

i will send you some of the small trades i did to prove they made money lol. but i dont think i have the actual charts but i will tell you how its done ( and its easy) lol

sorry bud they wont send

Ok am waiting sir

i have more but this is enough

As I know PM cant attached the Pic,You may send to my email address
[email protected]


Thanks

Greek 2nd bailout deal has already past D-Day - EU Commission

SARKOZY :
THAT HAVE NEVER BEEN CLOSER TO AGREEMENT ON GREECE
TIME IS RUNNING OUT ON GREECE, AN AGREEMENT NEEDS TO BE SIGNED
GREEK LEADERS HAVE MADE COMMITMENTS, THEY MUST STICK TO THEM, THEY HAVE NO CHOICE

MERKEL :
THERE CAN BE NO NEW GREEK PROGRAMME UNLESS THERE IS AGREEMENT WITH TROIKA

2 more trades just done

I think its BULLS all the way into the NY close.

Hello Billytt,

Can you explain "Directional Movement" please?

a lot of information is available online but its basically 3 lines, a bull line a bear line and line which is the trend line and simply put, when the bull line crosses a bear line or vice versa thats when the buy/sell is set up, and when the trend line turns that when you get out. it sounds easy but if you take time to study it looks promising

you can add a 21 ema and i believe one or two other indicators but that makes it less simple lol

Thanks!

I thought so... during the years there has been lot's of finns moving to aboard - so it is not quite impossible for you to speak finnish. But since I've been hanging here for months without one single word about it, I was quite surprised... Good one, though

I just came across this link sent to me and others by the Daily Pfennig, a daily email newsletter. Here is the INO Monthly Chart on US Dollar Index.

http://quotes.ino.com/chart/index.ht...c&a=2&w=5&v=d1

And here is the blog I mentioned above.

http://scottpluschau.blogspot.com/20...index-are.html

Snippet:

I had a post on the Dollar Index and key volume indicators back when it was making new highs. In an effort to save time, I am not going to review the specifics of "On Balance Volume" or "Accumulation/Distribution", or the layout on the chart below. It would be a good idea to review the post here before continuing:

http://scottpluschau.blogspot.com/20...action-in.html

It was by far the most glaring bearish negative divergence I could recall seeing in a futures contract.

Let's follow up on that post with the recent developments.

The "OBV" indicator has now made new lows for the year. Volume often leads price action and this would indicate increasing probabilities for new lows on the horizon for the Dollar Index. Quite a move from here.

The "Acc/Dist" indicator is also heading toward new lows.

http://www.etfdigest.com/commentary/....html#comments

Snippet:

The euro exchange traded fund is symbol FXE. Let’s take a look at the chart.

http://i238.photobucket.com/albums/f...mage001-40.gif

After an island reversal in October of 2011, it was all downhill for the euro. An island reversal is when a market gaps up, and then within a few days gaps down leaving an island all by itself on the chart. This is a very bearish pricing pattern. Lately there has been a MACD crossover and the RSI indicator is showing bullish positive divergence making new highs.
Without a major reversal pattern developing, I don’t see any reason to justify a trade in the euro at this time with my trading system. Should the euro ever get back above 145 I will certainly be looking to buy. Why would I be looking to pay 145 when I can pay less than 130 today? Because it may never get to 145, or even worse go down to 85. The greatest probability for me to make money buying euros will be when the path of least resistance is higher. Should the commercials start to unwind their long positions and go short, I would be favoring short trades.


Kno's Comments: Anyone care to comment on these views ?

If Risk Is Off Because Of Greece The Money Will Flow Into The US Bonds and The US Dollar Index Should Move Up especially if Greek Debt Talks break down. In the end my guide will be where the money is flowing as that will tell me where the market has decided to go.

By Yigal Grayeff and the Market Currents team
GM likely to report 2011 profit of $8B. GM (GM) will probably disclose that 2011 net income jumped 70% to a record $8B when it releases its results in ten days' time, The Wall Street Journal reports, with the firm's performance boosted by strength in North America and China. GM aims to increase its profit margin from 6% to 10% over the next few years and earn an annual profit of over $10B.
Greek debt talks drag on and on and on. The three parties in Greece's government last night agreed in principle to more Troika-imposed austerity, including cutting spending in 2012 by 1.5% of GDP, lowering auxiliary pensions, reducing wage and non-wage costs, and re-capitalizing banks without nationalizing them. However, key differences remain over the wages and the banks, and the sides were due to meet PM Lucas Papademos once again today.
Failure of austerity laid bare in debt figures. Eurozone government debt fell to 87.4% of GDP in Q3 from 87.7% in Q2, although it's up from 83.2% in Q3 2010. Showing just how unsuccessful the handling of the debt crisis has been, the sovereign debt of Greece, Portugal and Ireland all rose.
$25B deal over foreclosure abuse in sight. It's taken a year, but states and five banks are on the cusp of finalizing a $25B deal over foreclosure abuse after California returned to negotiations following a four-month absence, and New York - another hold-out state - signalled it could support a settlement. State AGs must indicate today whether they will sign on to the agreement. The banks involved are JP Morgan (JPM), Citigroup (C), Wells Fargo (WFC), Bank of America (BAC) and Ally Financial.
Mortgage-bond investors face hefty writedown. As part of any settlement to resolve foreclosure abuse, investors in mortgage bonds will be forced to write down up to $40B for distressed homeowners. The Obama administration plans to use the threat of litigation against large institutions to obtain additional aid for struggling borrowers.
"Glenstrata" mega merger faces obstacles. European Competition Commissioner Joaquin Almunia could investigate Glencore's proposed $35B acquisition of the shares in Xstrata (XSRAY.PK) it doesn't own, The Daily Telegraph reports. That's despite a 2006 ruling that treated the firms as one for antitrust purposes, due to Glencore’s 34.4% stake in Xstrata. The latter is also facing growing shareholder anger over what's seen as a "cosy stitch-up" and the lack of a significant premium.
Micron names Mark Durcan as permanent CEO. Micron (MU) has named company President and COO Mark Durcan as permanent CEO to replace Steve Appleton, who was killed in a plane crash on Friday. Durcan had initially been appointed to the position in a temporary capacity. Micron also named director Robert Switz as Chairman.
Facebook seeks to conquer mobile. Facebook plans to next month start showing ads to cellphone users as it attempts to succeed where Google and Twitter have so far fallen flat, The Financial Times reports. In its IPO filing last week, Facebook admitted it doesn't generate any "meaningful revenue" from its mobile products, which "may negatively affect our revenue and financial results."
IMF warns of China slowdown because of EU debt crisis. As if to underline weekend exhortations by Wen Jiabao to his countrymen that China needs to help the EU, the IMF has warned that the nation's growth could be half of the fund's 8.2% projection for this year should Europe’s debt crisis worsen. "However, a track record of fiscal discipline has given China ample room to respond," the IMF said.
The German economic engine powers back up. German December factory orders rose 1.7% vs. an expected increase of 1% and a decline in November of 4.9%. It's all about overseas business, where orders jumped 12.3%, outweighing a 6.8% decline from within the eurozone and a 1.4% domestic drop.
Romney builds momentum in Nevada. Mitt Romney enjoyed an easy win in Nevada over the weekend in his bid to become the GOP's presidential candidate. The economy ranked as the top issue among voters, with Romney attracting nearly two-thirds of the support of those who named it as their biggest worry. Next up are Minnesota, Colorado and Missouri tomorrow.

Today's Markets:
In Asia, Japan +1.1% to 8929.2. Hong Kong -0.2% to 20710. China flat at 2331. India +0.6% to 17707.
In Europe, at midday, London -0.5%. Paris -1.2%. Frankfurt -0.7%.
Futures at 7:00: Dow -0.4%. S&P -0.5%. Nasdaq -0.4%. Crude -0.9% to $96.95. Gold -0.9% to $1723.90.

Monday's economic calendar:
9:00 Fed's Bullard: 'Inflation Targeting in the U.S.'
10:00 Employment Trends Index
12:15 PM Fed's Fisher: Economic and Monetary Policy Outlook

http://www.moneyandmarkets.com/three...48918?FIELD9=2

Snippet:

Three Official Lies About Jobs! Two Official Lies About Housing! Plus, the Hard, Factual Truth!

Martin D. Weiss Ph.D. | Monday, February 6, 2012 at 7:30 am

http://images.moneyandmarkets.com/2336/martin-weiss.jpgWhile Washington announced last Friday that unemployment dropped to 8.3% …
And while Wall Street rejoiced with another rally …

The true unemployment in the United States actually rose to an estimated 22.5%, nearly the worst since the Great Depression.
Hard to believe?
Well, thanks largely to John Williams of www.shadowstats.com, we can prove it.

Just consider how the government is lying to us about jobs in America:
Lie #1. “Discouraged workers — unemployed workers who give up looking for jobs — are not really unemployed.”

Even a third grader would know that’s laughable. If jobs are so hard to find that people are abandoning the search, that’s a sign things are actually WORSE, right?

Yes, but that’s not how the government counts its headline unemployment number. Every time more people get discouraged, the government’s jobless number improves!

Kno's Comments: In Case You Missed This Post From WWW.JSMINESET.COM

Your Morning Laugh...

Thanks Jim Sinclair and CIGA Lew

Jim Sinclair’s Commentary
Employment statistics as taught by the two revered classical economists, Abbott and Costello. Courtesy of CIGA Lew
COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible Times. It’s 8.3%.
COSTELLO: That many people are out of work?
ABBOTT: No, that’s 16%.
COSTELLO: You just said 8.3%.
ABBOTT: 8.3% Unemployed.
COSTELLO: Right 8.3% out of work.
ABBOTT: No, that’s 16%.
COSTELLO: Okay, so it’s 16% unemployed.
ABBOTT: No, that’s 8.3%…
COSTELLO: WAIT A MINUTE. Is it 8.3% or 16%?
ABBOTT: 8.3% are unemployed. 16% are out of work.
COSTELLO: IF you are out of work you are unemployed.
ABBOTT: No, you can’t count the "Out of Work" as the unemployed. You have to look for work to be unemployed.
COSTELLO: BUT THEY ARE OUT OF WORK!!!
ABBOTT: No, you miss my point.
COSTELLO: What point?
ABBOTT: Someone who doesn’t look for work, can’t be counted with those who look for work. It wouldn’t be fair.
COSTELLO: To who?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work… Those who are out of work stopped looking.
They gave up and if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you’re off the unemployment rolls, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don’t look for work?
ABBOTT: Absolutely it goes down. That’s how you get to 8.3%. Otherwise it would be 16%. You don’t want to read about 16% unemployment do ya?
COSTELLO: That would be frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you’re thinking like an economist.
COSTELLO: I don’t even know what the hell I just said!