EurAnalysis

Coming back to test support

Edit: Clash point : 1.3150

slow...

Good morning everyone.

Only notable auction event today seems to be:
14:00 GMT Belgium OLO mini bond auction

Speeches:
13:00 USD FOMC Member Dudley Speaks
18:00 Benny Cake has his word to say...

Other notable events which may swing our favorite symbol:
13:30 USD Core CPI m/m
13:30 USD CPI m/m
14:55 USD Prelim UoM Consumer Sentiment

And today morning we had the event which caused price to swing:
7:00 All Forex FINNISH CPI

Ok? Does that mean that your wild single times in EurAnalysis is over?
Who is the happy bride?

May be its a bear trap...
Is there will be any benny cake effect later....Kno,PT,everyone can share your opinion...

That was at 06:03 GMT. Now SL @ BE.
Normally would not do that so soon, but have to leave PC for a while, and dont want a stopper.

It was BE after all, no wonder price has to test DP again. So far no loss on Friday the 13th... but who cares about that.

Good morning folks. Not much to say today. It's a relatively slow news day and after yesterday's rally which was based on anticipation of a stronger than expected China GDP (which didn't happen) and renewed hopes/fears of further Fed easing (which won't happen... at least not yet anyway), as I suspected late yesterday, we're in a holding pattern.

So what's next? Either we retest 1.3120 support, or we shoot higher. This area is clearly a decision point. Let's see what the deep pockets decide.

Some points of interest:

1. EuroZone periphery bond yields are inching upwards
2. There is fear/uncertainty over the upcoming elections in Greece and France.
3. Over the medium term, the USD is still bullish
4. As pointed out yesterday, the upswing in equity markets yesterday failed to retrace past the 38.2% fibo and stopped there.
5. Even if price manages to make it up as high as 1.33, we're still in a strong downtrend.

Anyway, I shall leave you with that. I am heading out for UV rays and I'll be back before NY open which is when I will expect to see some significant action.

Later
PT

http://theeconomiccollapseblog.com/a...azy-to-believe

The Top 10...

The economic crisis in Europe continues to get worse and eventually it is going to unravel into a complete economic nightmare. All over Europe, national governments have piled up debts that are completely unsustainable. But whenever they start significantly cutting government spending it results in an economic slowdown. So politicians in Europe are really caught between a rock and a hard place. They can't keep racking up these unsustainable debts, but if they continue to cut government spending it is going to push their economies into deep recession and their populations will riot. Greece is a perfect example of this. Greece has been going down the austerity road for several years now and they are experiencing a full-blown economic depression, riots have become a way of life in that country and their national budget is still not anywhere close to balanced. Americans should pay close attention to what is going on in Europe, because this is what it looks like when a debt party ends. Most of the nations in the eurozone have just started implementing austerity, and yet unemployment in the eurozone is already the highest it has been since the euro was introduced. It has risen for 10 months in a row and is now up to 10.8 percent. Sadly, it is going to go even higher. As economies across Europe slide into recession, that is going to put even more pressure on the European financial system. Most Americans do not realize this, but the European banking system is absolutely enormous. It is nearly four times the size that the U.S. banking system is. When the European banking system crashes (and it will) it is going to reverberate around the globe. The epicenter of the next great financial crisis is going to be in Europe, and it is getting closer with each passing day.
The following are 27 statistics about the European economic crisis that are almost too crazy to believe....

Greece
#1 The Greek economy shrank by 6 percent during 2011, and it has been shrinking for five years in a row.

#2 The average unemployment rate in Greece in 2010 was 12.5 percent. During 2011, the average unemployment rate was 17.3 percent, and now the unemployment rate in Greece is up to 21.8 percent.

#3 The youth unemployment rate in Greece is now over 50 percent.

#4 The unemployment rate in the port town is Perama is about 60 percent.

#5 In Greece, 20 percent of all retail stores have closed down during the economic crisis.

#6 Greece now has a debt to GDP ratio of approximately 160 percent.

#7 Some of the austerity measures that have been implemented in Greece have been absolutely brutal. For example, Greek civil servants have had their incomes slashed by about 40 percent since 2010.

#8 Despite all of the austerity measures, it is being projected that Greece will still have a budget deficit equivalent to 7 percent of GDP in 2012.

#9 Greece is still facing unfunded liabilities in future years that are equivalent to approximately 800 percent of GDP.

#10 In the midst of all the poverty in Greece, several serious diseases are making a major comeback. The following comes from a recent article in the Guardian....


So why hasn't Europe crashed already?
Well, the powers that be are pulling out all their tricks.
For example, the European Central Bank decided to start loaning gigantic mountains of money to European banks. That accomplished two things....
1) It kept those European banks from collapsing.
2) European banks used that money to buy up sovereign bonds and that kept interest rates down.
Unfortunately, all of this game playing has also put the European Central Bank in a very vulnerable position.
The balance sheet of the European Central Bank has expanded by more than 1 trillion dollars over the past nine months. The balance sheet of the European Central Bank is now larger than the entire GDP of Germany and the ECB is now leveraged 36 to 1.
So just how far can you stretch the rubberband before it snaps?
Perhaps we are about to find out.
The European financial system is leveraged like crazy right now. Even banking systems in countries that you think of as "stable" are leveraged to extremes.
For example, major German banks are leveraged 32 to 1, and those banks are holding a massive amount of European sovereign debt.
When Lehman Brothers finally collapsed, it was only leveraged 30 to 1.
You can't solve a debt crisis with more debt. But the European Central Bank has been able to use more debt to kick the can down the road a few more months.
At some point the sovereign debt bubble is going to burst.
All financial bubbles eventually burst.
What goes up must come down.
Right now, the major industrialized nations of the world are approximately 55 trillion dollars in debt.
It has been a fun ride, but this fraudulent pyramid of risk, debt and leverage is going to come crashing down at some point.
It is only a matter of time.
Already, there are a whole bunch of signs that some very serious economic trouble is on the horizon.
Hopefully we still have a few more months until it hits.
But in this day and age nothing is guaranteed.
What does seem abundantly clear is that the current global financial system is inevitably going to fail.
When it does, what "solutions" will our leaders try to impose upon us?
That is something to think about.
http://theeconomiccollapseblog.com/w...ts-440x439.jpg

http://www.forexpros.com/quotes/us-dollar-index

http://www.finviz.com/forex_charts.ashx?t=EURUSD&tf=m5

Timeframe: 5 minute | hourly | daily | weeklyhttp://www.finviz.com/gfx/nic2x2.gifhttp://www.finviz.com/fx_image.ashx?...98900131300150

EuroooooOOoooooooOOo

Apocalypse now !!!...

Don't get me wrong, you are making very interesting points but don't you think that you are a bit over the top with some "cherry pick" numbers and those images (lol fantastic but 99.9% of Europe is not like that) .....Honestly you can make some very decent bucks with that .... any tabloid (especially the British ones ..an article next to the Page 3 ...if you know what I mean ) will be interested in publishing....

For real mate, I don't think is such a good idea [when trading I mean] to have such a extreme bias.

Look yes, debt is a big problem across the world, Greece is a disaster, no doubt about it, financial sector in europe (and across the world) is still fragile since the financial meltdown 2008 but in Economics you need to include a lot more factors before you make such a call.... just my 2 cents...

sisse

Today Option expiries at 1400 GMT

1.3100
1.3105
1.3110
1.3120
1.3150
1.3170
1.3175
1.3200

Your view is very valid and I do think about the issue that you bring up when I post or link such articles.

I always try to look for a balance and try very hard to keep an objective opinion.

I traded through the housing meltdown and it gave me a great edge knowing what was really going on.

This time is much different. The powers that be mainly the FED and the ECB have brought things to a point the world has never seen.

Mainstream Americans such as Bill Gross and Doug Noland are publically calling the actions taken as close to a Ponzi scheme as is possible.

We can all see what is really going on with daily observations.

Here is the reason that I continue to try to inform here on these matters.

In order to understand what is happening there needs to be a balance. I would venture to guess that many here who have the interest and the time to read and understand probably have a better grasp of reality than most so called guessperts on CNBC and other places. I cannot change what happened and will happen.

There can be no question about the problems in front of the world because of the destruction of FREE MARKETS !!!

I first want to inform myself and know the truth. Then I share some thoughts here in order to inform.

I agree with you that it might appear at times to be over the top. On the weekend I do my main research and post some of what I discover here. I always try to see the other point of view however there just is little doubt about what is going on and where this is going.

We as humans all have family and loved ones. Some of those here I consider as part of my extended family. I love intelligent and fair minded people and I love to help and teach people things with no hidden agenda.

This is my life and my business. The trading of currencies that is. I share my time and knowledge here freely. Thanks to PipTrapper we all have another place to come to and share views while we trade.

Please post any articles you think make a point other than mine and others. I always have an open mind and can change my views.

I take no pleasure in seeing the pain and misery unfold. I wish it was different however it is not.

I hope this post helps make my reasons clear and I REALLY APPRECIATE your thoughts.

It is always good to discuss things to see if perhaps you might be doing something without even seeing it yourself.

Thanks and good trading.

After reading your post again before hitting the send button I also want to point out that I read hundreds of articles each week and I see all different opinions on these matters. After I do that I form my consensus and daily I try to see if things are changing for the better or getting worse. Most of the research comes from very knowledgeable people and might be somewhat over the top. Sometimes images are worth a thousand words.

where u get that data?hehehe....share please

Right here --> http://www.forexpros.com/rates-bonds...vernment-bonds

You're welcome

PT,you forget huhuhuhu

Price managed only to retrace to 61.8% of yesterday's bullish move and was quickly rejected with a tweezer (double pin bar) rejection/reversal pattern on M15.

Further support was offered by the 200 period ema and sma lines and the Daily midpivot DM3 at 1.3144.

If price manages to get back above the broken 1.3165 support (previous resistance), then we'll be retesting 1.3211 again today.

Could 1.3240/50 area be the next target? All depends how NY reacts to the disappointing China GDP number.



ADD; By the way... For anyone who is interested, I have closed my small shorts from 1.3240, 1.3175 and 1.3125 and am now only holding a big short at 1.34 and am considering a partial close on it. Total net piplots closed this morning = +185

4H chart

seem like evening doji star and even this 4H close forming a pinbar,it doesnt looks like a bullish pinbar,instead it will be more like hanging man