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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #33,321
  • May 30, 2012 1:32pm May 30, 2012 1:32pm
Quoting PipTrapper
According to official sources, a new currency will be printed for Spain and Greece.

Icht iz called zee Zeuro und vill be afailable zoon
Attachment
Haven't seen that one.
  • #33,322
  • May 30, 2012 1:36pm May 30, 2012 1:36pm
just thought i would point out, we are sitting at the bottom of the primary channel right now.

come on retrace!
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An opportunity lost is not a capital cost.
  • #33,323
  • May 30, 2012 1:39pm May 30, 2012 1:39pm
Quoting BFSGcapital
just thought i would point out, we are sitting at the bottom of the primary channel right now.

come on retrace!
Yeah really.

Retrace to 1.2618

Please

Those who say it cannot be done should not interrupt those who are doing it
  • #33,324
  • May 30, 2012 1:43pm May 30, 2012 1:43pm
Quoting PipTrapper
Yeah really.

Retrace to 1.2618

Please

Yup so badly want it. Don't know if we are going to get it though..

Those shorts are succsessful day trades that I left a micro lot of open, practicing my holding for long time

So I need some more size at a higher level. Thing is 1.262 is going to be well above channel resistance soon.
An opportunity lost is not a capital cost.
  • #33,325
  • May 30, 2012 1:50pm May 30, 2012 1:50pm
[quote=PipTrapper;5714001]Yeah really.

Retrace to 1.2618

Please


ah i am back i am with u praying just one more position at 1.2350 and i am done.
Allah has permitted trade and has forbidden interest [koran]
  • #33,326
  • May 30, 2012 1:50pm May 30, 2012 1:50pm
Quoting PipTrapper
Yeah really.

Retrace to 1.2618

Please


1.2618???? Is this possible before our main target?
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #33,327
  • May 30, 2012 1:52pm May 30, 2012 1:52pm
The Biggest 10-Year Trend In Currency Markets Has Come To An End

Simone Foxman

Arguably the prime driver in foreign exchange markets for the last ten years, unsterilized intervention by emerging market central banks in the currency markets has had a positive impact on the value of the euro against the dollar.

According to Greg Anderson, Citi's chief of G10 FX Strategy in North America, that trend is gone, and it "is unlikely to return anytime soon." He told Business Insider that only a "surge of global growth and optimism" is likely to create new demand for the euro against the dollar, and in the best case scenario it would still take months if not years to re-emerge.

For years, emerging market central banks have been intervening in foreign exchange markets to keep the value of their currencies from appreciating too quickly. Central banks in the BRIC nations, Saudi Arabia, South Korea, and Mexico have been purchasing large sums of U.S. dollars to expand their monetary base.

While those sums were mostly reinvested in Treasury bonds, these banks would also "recycle" many of those dollars.

Anderson writes in a note today (emphasis added):

As EM central banks purchase USD, they have tended to recycle 25-50% of the proceeds out in to EUR in relatively short order. This has created steady EURUSD demand, except during the crisis period from August 2008 through March 2009, when EM central banks briefly sold EUR as they spent reserves to defend their currencies. Now that source of EURUSD demand is gone. Although we won’t have the data for months (China won’t release April and May reserves data until July), it is likely that central banks have also been spending reserves and selling EURUSD in April and May...

The key point to take away is that official EURUSD demand is gone and unlikely to return any time soon. Without what has arguably been the biggest factor driving EURUSD upward movement over the past ten years, downside pressures are much more likely to prevail.

Emerging market demand for euros—likely one of the major factors keeping the value of the euro at $1.30-$1.35 from January to May—has now leveled off. Anderson points to the chart at right to show that growth in EM FX reserves has vanished.

In a phone interview, Anderson told us that only a transformation in global growth would reinstate the trend.

"[We would need] a surge of global growth and optimism about equities in particular, which would cause a big wall of money to go buy emerging market equities again. And that would start a new phase,"

he said in a phone interview Wednesday.

He noted that there could be a brief return to reserve accumulation. "You might have a little burst of it if we saw positive news out of Europe," Anderson said.

But even that would be short-lived. "As a steady trend, it would probably take 6 months at least to reemerge."

So much for the euro, folks.
Those who say it cannot be done should not interrupt those who are doing it
  • #33,328
  • May 30, 2012 1:53pm May 30, 2012 1:53pm
Anger over Christine Lagarde's tax-free salary.

http://www.independent.co.uk/news/wo...y-7801028.html


--------------------------------

Sugar mama.
  • #33,329
  • May 30, 2012 1:57pm May 30, 2012 1:57pm
Quoting PipTrapper
<b>The Biggest 10-Year Trend In Currency Markets Has Come To An End

Simone Foxman

So much for the euro, folks.
  • #33,330
  • May 30, 2012 2:04pm May 30, 2012 2:04pm
My view until now
Attached Image (click to enlarge)
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Stocktwit: LuisCarlos - twitter: @lcparodi
  • #33,331
  • May 30, 2012 2:14pm May 30, 2012 2:14pm
Greece's NBG posts Q1 loss as recession bites


ATHENS | Wed May 30, 2012 10:36am EDT

May 30 (Reuters) - Greece's largest lender National Bank on Wednesday reported a 537 million euro ($666 million) loss in the first quarter, as the country's deep recession led to weaker income and more non-performing loans.


  • #33,332
  • May 30, 2012 2:21pm May 30, 2012 2:21pm
Somebody stops the bleeding!!!!!!!!
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #33,333
  • May 30, 2012 2:23pm May 30, 2012 2:23pm
Quoting Luis Carlos
Somebody stops the bleeding!!!!!!!!
are you long?

I also want the 1.26 area, wanna start bleeding from there
  • #33,334
  • May 30, 2012 2:25pm May 30, 2012 2:25pm
Quoting FXSwissTrader
Greece's NBG posts Q1 loss as recession bites


ATHENS | Wed May 30, 2012 10:36am EDT

May 30 (Reuters) - Greece's largest lender National Bank on Wednesday reported a 537 million euro ($666 million) loss in the first quarter, as the country's deep recession led to weaker income and more non-performing loans.


http://www.cartoonstock.com/lowres/ggm090131l.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #33,335
  • May 30, 2012 2:44pm May 30, 2012 2:44pm
Quoting mka_78
are you long?

I also want the 1.26 area, wanna start bleeding from there
I am not too nuts to try to get a retracement...
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #33,336
  • May 30, 2012 2:56pm May 30, 2012 2:56pm
Quoting Luis Carlos
I am not too nuts to try to get a retracement...
Come on retracement!

Bouncing off channel support now.

Usually we get some sort of pullback after NY close.

I'm really doubting we get one but we can pray
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An opportunity lost is not a capital cost.
  • #33,337
  • May 30, 2012 3:05pm May 30, 2012 3:05pm
Channel lines were a bit off, now that I redraw them, its much more clear. Now we look to be under the primary channel, but still inside the more recent channel.
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An opportunity lost is not a capital cost.
  • #33,338
  • May 30, 2012 3:21pm May 30, 2012 3:21pm
Quoting PipTrapper
According to official sources, a new currency will be printed for Spain and Greece.

Icht iz called zee Zeuro und vill be afailable zoon
Hi man.

Now I am laughing hard.

T
"I know one thing, that I know nothing." Sokrates
  • #33,339
  • May 30, 2012 3:28pm May 30, 2012 3:28pm
Quoting BFSGcapital
Come on retracement!

Bouncing off channel support now.

Usually we get some sort of pullback after NY close.

I'm really doubting we get one but we can pray
My possible pullbacks targets
Attached Image (click to enlarge)
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Stocktwit: LuisCarlos - twitter: @lcparodi
  • #33,340
  • May 30, 2012 3:40pm May 30, 2012 3:40pm
Quoting Luis Carlos
My possible pullbacks targets
Hope so! Seems like it will hit 1.23 before any pull back. But could happen this Thursday and Friday as profit is taken into the monthly close.

Large monthly candles pretty much never close full red, always seems to be a little wick, which to me is the month end profit taking.
An opportunity lost is not a capital cost.
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