EurAnalysis

Trendline from 3060 held very strong. Tested within 5 pips and then dumped. Always a good sign

no excitement in shorts as well ... may be tomorrow ...

I am just shocked how strong the euro is right now.

Who thought by today we would be higher than the lows of Sunday?

eurusd is acting like a teenage girl right now

not sure if i get you correctly.

This is my nearterm view...

Ha ha, funny as ever PT!

I'd reckon likeliest scenario is that no one forms a government now in Greece and they go on the back-burner again till elections possibly later in June. Before then, deals will be done, smudged and fudged, both internally within Greek political parties and externally with their Troika bosses to ensure that conditions then exist so that a "suitable" pro-bailout government gets elected...so that's another bothersome can successfully kicked down the road one more time and Greece is sorted yet again!...er NOT!
Regarding Piigs etc, once the extent of the bad debts on the Spanish banks' balance sheets become even faintly known (and they probably NEVER will be fully acknowledged), the black death of a property bubble crash will descend and suck what remaining life is left in the economy out of them, as has happened and is still happening in Ireland. Once the bank's private debts get put onto the shoulders of the sovereign and therefore the taxpayers to bail them out, it's downhill from there on ...rising bond yields, further ratings agencies downgrades, with spiraling & crippling debt and negative growth... BLACK HOLE! And when it gets to that stage (black death brings contagion!), no amount of IMF or EFSF war-chest funny-money will suffice (and don't forget Spain/Italy are some of the larger contributors of pledges)....it's rather like that nuclear war deterrent button, if it ever does come time to use it .... it's already too late!

Interesting talk recently on the periphery from the Irish Central Bank Governor has been that bank recapitalizations should no longer be heaped solely upon the sovereign but funded also possibly from the EFSF ... a coincidence that's suddenly appearing on the radar just as Spanish banks are coming under the spotlight again? (Great pity that he didn't have this epiphany back when the Irish sovereign & taxpayers were being likewise burdened of course!). Ah well, us traders are always good for a nice conspiracy, and of course all that was just IMHO and it could all just work out hunky dory in the end!

My E/U sell limit was only 1.3 pips away from triggering at 1.2980. Had targeted for a quick 30 pips. Dang it. Oh well. Better conservative then too trigger happy.

Definitely with you on that one.

My view here, similar to yours, favor buy. My bottoms for both cases are 295.

Eur has been flat since Sundays bottom basically (yeah we tested higher and lower but we are still here at 1.296. I'm just shocked it hasn't dumped more. Maybe tomorrow.

ComB... It all boils down to one thing. How much more will the people take till they just lose it?

No democratic government can please the people for more than two terms (I have history to back up that statement), and more than likely not even half a term. Voters want low taxes and high benefits (a contradiction). Politicians want office and respect (another contradiction). That's just the way the cookie crumbles. My point is that no matter what the politicians decide between themselves, it is really the voters that decide who lives and who dies in the end. The ballot is a very powerful weapon. It's just a shame the voters are not properly trained on how best to use it.

USD 1H does not look good + S&P is forming a D1 bullish elgulfing.

Tomorrow, next week, the week after... no difference. Patience is key

http://wtfcontent.com/img/132732900501.jpg

yeah i guess not. trendline from 3280 comes into play around 1.30-1.3030 depending on how long it takes to get there, maybe a bit lower too.

perhaps we test that before we really go lower.

Maybe in the 15 minutes chart the last wave is a triangle and 1.2955/4 would not break

you guys thinking 1.285 before we see a larger correction? I sure hope we get there because I'm still holding shorts even though I know I should have taken it off the table at the support area 1.293.

note the MANY bearish candle sticks in the 30m, over the last 4 hours

no larger correction till 1.26 - 1.25. price is beautifully respecting the downward channel only 1.2900 level is a key here going another 300 pips down so a retest and rebound from 1.3000 - 30 level is important resuming down again.

by large correction i only meant like 100 pips. So we hit 1.285 and bounce and test 1.295 again.

I'm just really frustrated for not taking profit near the lows because fear is setting in that its just going to rally until break even.. lol..


we hit that thicker green line and i am loading up huge. ill try a short with a tight stop at the thinner green line