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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #42,581
  • Jul 12, 2012 11:02am Jul 12, 2012 11:02am
Quoting Cgb
Damn! Damn, damn, damn! Really didn't want it to go there. Damn!
WTH just happened?
  • #42,582
  • Jul 12, 2012 11:06am Jul 12, 2012 11:06am
Quoting FXSwissTrader
WTH just happened?
Surprise!!! This happened

Spanish minister: Spain on the hook for bank bailout, creditors won’t be subject to losses

but it won't last long. Hang in there.. it will reverse.
Those who say it cannot be done should not interrupt those who are doing it
  • #42,583
  • Jul 12, 2012 11:09am Jul 12, 2012 11:09am
Quoting PipTrapper
Surprise!!! This happened

Spanish minister: Spain on the hook for bank bailout, creditors won’t be subject to losses

but it won't last long. Hang in there.. it will reverse.
Does it have to do with gold also? It jumped 125 pips within minutes. Glad I just took profit minutes before that jump. Crazy gold.
  • #42,584
  • Jul 12, 2012 11:09am Jul 12, 2012 11:09am
Quoting PipTrapper
Surprise!!! This happened

Spanish minister: Spain on the hook for bank bailout, creditors won’t be subject to losses

but it won't last long. Hang in there.. it will reverse.
That's just dam plain stupid. Silver shot up through the roof.
  • #42,585
  • Jul 12, 2012 11:12am Jul 12, 2012 11:12am
Quoting mka_78
Does it have to do with gold also? It jumped 125 pips within minutes. Glad I just took profit minutes before that jump. Crazy gold.
I've got a sell limit @ daily pivot. My silver sell limit triggered at 200hr EMA.
  • #42,586
  • Jul 12, 2012 11:12am Jul 12, 2012 11:12am
Quoting mka_78
Does it have to do with gold also? It jumped 125 pips within minutes. Glad I just took profit minutes before that jump. Crazy gold.
Quoting FXSwissTrader
That's just dam plain stupid. Silver shot up through the roof.
Like I said... Surprise!!!

I know it sucks but such is the market... Jittery and hooked on hopium.
Those who say it cannot be done should not interrupt those who are doing it
  • #42,587
  • Jul 12, 2012 11:15am Jul 12, 2012 11:15am
Quoting FXSwissTrader
Must be some gut Österreich schnapps.
btw, I drink tomato juice instead
it's the best in the world
  • #42,588
  • Jul 12, 2012 11:17am Jul 12, 2012 11:17am
Good morning from sunny California, I have a few medium to long term thoughts for the Euro.

On the monthly charts I'm seeing some heavy support at the 1.20xx-1.19xx area, I say that if that support remains unbroken, then we could see a correction to the 1.35 area.

If the 1.19xx support is broken then the next support that I see on the monthly charts are the 1.065 area.

Anyway, that's what I see going on, but that includes price action only, the fundamentals might spell things out differently. Happy trading everyone.
  • #42,589
  • Jul 12, 2012 11:21am Jul 12, 2012 11:21am
Crude bouncing off the 220EMA again.
  • #42,590
  • Jul 12, 2012 11:26am Jul 12, 2012 11:26am
Quoting PipTrapper
Surprise!!! This happened

Spanish minister: Spain on the hook for bank bailout, creditors won’t be subject to losses

but it won't last long. Hang in there.. it will reverse.
I think this is pretty much it for the day. We're going to be range bound between 1.2210 and 1.2280 would be my guess.

Heading out for lunch, back in a bit.
I observe your reality but live my own.
  • #42,591
  • Jul 12, 2012 11:36am Jul 12, 2012 11:36am
Quoting Cgb
I think this is pretty much it for the day. We're going to be range bound between 1.2210 and 1.2280 would be my guess.

Heading out for lunch, back in a bit.
agree
AM Signal Provider
  • #42,592
  • Jul 12, 2012 11:44am Jul 12, 2012 11:44am
Quoting Cgb
I think this is pretty much it for the day. We're going to be range bound between 1.2210 and 1.2280 would be my guess.
today EU will break up two st TL? don't think so... i don't see enough strength
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  • #42,593
  • Jul 12, 2012 12:00pm Jul 12, 2012 12:00pm
Quoting catwoman
today EU will break up two st TL? don't think so... i don't see enough strength
Sorry Kitty... "We're going to be range bound between 1.2210 and 1.2280 would be my guess"

That was a typo... Should have been 1.2210 and 1.2180

Sorry if I caused you any undue stress
I observe your reality but live my own.
  • #42,594
  • Jul 12, 2012 12:03pm Jul 12, 2012 12:03pm
Quoting Cgb
Sorry Kitty... "We're going to be range bound between 1.2210 and 1.2280 would be my guess"

That was a typo... Should have been 1.2210 and 1.2180

Sorry if I caused you any undue stress
ok!
no stress, i'm cool
  • #42,595
  • Jul 12, 2012 12:07pm Jul 12, 2012 12:07pm
Quoting catwoman
ok!
no stress, i'm cool
U/CAD 1.0249
  • #42,596
  • Jul 12, 2012 12:16pm Jul 12, 2012 12:16pm
Quoting Ken A
U/CAD 1.0249
now at 1,020 again. boring
  • #42,597
  • Jul 12, 2012 12:17pm Jul 12, 2012 12:17pm
The euro buys just have no heart or desire right now. US equities are trying to get green. Aussie is sputtering around trying to life off and the euro is as dead as the medium rare steak i had last night.
  • #42,598
  • Edited 2:07pm Jul 12, 2012 12:19pm | Edited 2:07pm
Quoting catwoman
now at 1,020 again. boring
Good place to add, but Asian session last few days @ 1.080 - 1.090

Edit:

Typo 1.0180 - 1.0190
  • #42,599
  • Jul 12, 2012 1:01pm Jul 12, 2012 1:01pm
m15 was bear-flag-alike formation and now its like a bull flag
69
  • #42,600
  • Jul 12, 2012 1:27pm Jul 12, 2012 1:27pm
Quoting Wulfgar
I cant read PT's message at all

but i can certainly read this message

btw Strong area here guys at the 1.2200-1.2219

If we are going to have a bounce the time is NOW....
Current market conditions

E/U – current 1.2189 (Break of 1.2200 to Low of 1.2167) Pair is continuing its decent in very tight ranges and small overall daily ranges.


G/U – current 1.5407 – Broke 1.5400 to 1.5393 before reversing, will review for tonight’s Report – breaks below 1.5400 – support at 1.5314 area


U/Cad – current 1.0229 – Broke 1.0250 high to 1.0251 and reversed


A/U – current 1.0115 – High of session was 1.0262 – Australian dollar was sold off steeply on risk aversion, as well as poor job market data.


How I see it from a fundamental perspective


The FOMC meeting confirmed no sign of real interest in QE3, which is strengthening the greenback, particularly against commodity currencies.


The Dollar and Yen moved in Asian trading after the Fed and the BOJ opted not to increase stimulus efforts.


After the Federal Reserve squashed hopes for extra stimulus(much to the chagrin of the major banks),risk appetite waned and the euro fell to a two-year low against the dollar.


As other central banks cut rates, the yen is becoming less appealing as a funding currency, leading to the yens stubborness to weaken in spite of any BOJ stimulus they may come up with.


Political uncertainties and tight trading ranges are curbing big investors’ foreign exchange trading activity mainly due to summertime and the fact many of the major players have positioned themselves accordingly and take this time of year to do whatever it is that rich people do.




Ill review my numbers and be back later with my plan for the next 24 hour session


Good luck guys and have a nice day/night/weekend
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