EurAnalysis

PT, you should have linked to this year's San Diego 4th of July show:

Give me strength……

Written by Gerry Davies
July 26, 2012 at 07:04 GMT

Thank heavens the Olympics officially start soon. Hopefully there’ll be lots of morning events. Will give me something to do.

EUR/USD comatose at 1.2150.

Sell orders 1.2160/70, buy stops through 1.2175. More sell orders clustered 1.2200/20, buy stops through 1.2230.

Downside looks a little more muddled.

Talk of sell stops through 1.2125, but also talk of buy orders clustered 1.2120/30.

More sell stops through 1.2100.

Summertime and the livin is easy, fish are jumpin and the cotton is high……..

Hi Piptrapper,


I introduce myself, I am following from long time your thread, and I find this forum very interesting, and your fundamental and technical analisys is excellent.

Would you mind to give more bias whether sell or buy for the option levels as you usually do?

Sorry for bothering you

Yeah I forgot about that. What a colossal F/U that was.

So euro bounced off weekly supp 2 and broke 2063 to move 100 pips up to 2163. We still have one more move up to the pivot at 6193, with resistance levels at 2177 and 2180. These 2 levels will be looked at to short when when come back down.
At the end of this current hour I will place a but at 2156 with the pivot as target. The reason for the long is that we are in a rising hourly channel with a flag. We broke the flag previous hour, and this hour just came back to fetch the guys who are not in the long yet.
Then I'll wait for the next setup.

news from 15 min ago

$EURUSD drops nearly 30 points from 1.2150. Decline started as news released of Greek private bank sector deposits falling 4%.

26 Jul 10:14:22

Yep...

This is my trade I took during yesterday afternoon NY session. Move SL back to BE. Hopefully the PA breaks and close below 55 EMA on EU H1. I will review my position if the speech by MR Draghi is bullish to EU but I'm very doubtful and no logical explanation unless -ve news on USD or interventions.


ADD : This EU H1 Chart before I set SL and TP. Currently my SL = BE . TP @ 1.20520 MM < 1%

Hi guys. I had a personal family situation sprung up on me, and had to disappear to tend to. I won't have as much time to post regularly as I wish, but will try what I can. Hope everyone is doing well, and making green pips. I know you guys probably didn't even realize I was missing. Trade safe guys and kitty cat.

Fight around daily pivot level (2120 with my indi).

i am away, my net is full of pips.Take care all and keep it simple. Good trading

Hello CurrencyMan, I like this guy (Rep Ron Paul). I had seen few of his videos. A remarkable politician. We need more people like him to clean up the corrupted politicians

I use Actionforex for my pivot levels. However they seem to differ to a lot of the figures that get quotes here. Just wondering who's wrong and who's right?

http://theeconomiccollapseblog.com/a...ing-to-kill-it

Snippet:

The American people need to stand up and demand an audit of the Federal Reserve.
We deserve to know what is going on over there.
Sadly, the mainstream media makes it sound as if hell has a better chance of freezing over than this bill does of becoming law. The following is from a USA Today article that was posted on Wednesday....

The bill stands no chance of becoming law because the Democratic-controlled Senate will not take it up. The vote, however, served as a symbolic swan song for Paul, who is not seeking re-election. It is also an indicator of how Paul's economic views have gone more mainstream, particularly within the Republican Party, in the wake of the 2008 financial crisis that shook Americans' confidence in Wall Street and the federal government.

Well, let us hope that this kind of a bill keeps getting introduced in Congress.
Perhaps someday we actually will get a real audit of the Federal Reserve.
When that happens, the following is a list of questions that I would like to see asked by those auditing the Fed....
If the Federal Reserve is supposed to prevent shocks to our economy, then why have there been 10 different economic recessions since 1950 and why are we about to enter another one?
Was the Federal Reserve involved in the manipulation of Libor?
What role did the Federal Reserve playing in creating the housing bubble that resulted in an unprecedented housing crash?
Why has the value of the U.S. dollar fallen by 83 percent since 1970?
Why is the Federal Reserve paying U.S. banks not to lend money?
Why did Barack Obama nominate Ben Bernanke for a second term as head of the Federal Reserve when Bernanke has a track record of failure that makes the Chicago Cubs look like a roaring success?
Why is the U.S. national debt more than 5000 times larger than it was when the Federal Reserve was created in 1913?
Why were the Federal Reserve and the personal income tax both pushed through Congress in the same year in 1913?
Why does the Federal Reserve argue that it is "not an agency" of the federal government in court?
Why do all 187 nations that belong to the IMF have a central bank?
Do you have any other questions that you would like to have asked during an audit of the Federal Reserve? Please feel free to post a comment with your thoughts below....
http://theeconomiccollapseblog.com/w...ke-440x293.jpg

I wondered where you where as I've missed your informative posts. Hope your situation is OK. Be well.

Trading strategy for the day.

Congrats ..... well done friend ...GL to u

http://www.actionforex.com/action-in...0120726170809/

FUNDAMENTALS:

Daily Report: Risk Markets Recover, ECB Draghi Awaited

Risk markets are mildly higher in Asian session, trying to recover from this week's sharp losses, but momentum is so far weak. There were talks that the dismal home sales data released from US overnight raised the chance of additional stimulus from Fed. Meanwhile, Euro also stabilized on outspoken ECB governing council member Nowotny's push for giving ESM a banking license. Strong support was also seen in Spanish bonds and the benchmark 10 year yield pulled back from record high of 7.751% and settled at 7.376%. EUR/USD is trying to form a base above 1.2 psychological level and could consolidate for a while. But the common currency is still vulnerable to another selloff should Spanish yield climbs again.

It should be noted that Nowotny's idea of giving ESM a banking license, thus allowing to tap into ECB funding and boost the firepower, is not new. Such idea has indeed been persistently rejected by some ECB officials before. And, it will face strong opposition from Germany, and there are legal questions to be solved. Also, some analysts noted that the outspoken Nowotny's comments don't always reflect those of the board of ECB. A main focus today is ECB president Draghi's comments and Euro could be back under pressure again should Draghi pour cold water on the ESM banking license idea again.

RBNZ left the official cash rate unchanged at 2.50% today as widely expected. In the accompanying statement, governor Bollard noted that the overall outlook is consistent with the June Monetary Policy Statement. RBNZ noted "limited risk" that conditions in Eurozone could deteriorate significantly and will continue to monitor the situation. Domestically, economic activities are expected to grow modestly over the next few years as fiscal consolidation and exchange rate are "constraining demand growth". Inflation is expected to settle near to mid-point of target range over the medium term.

On the data front, Japan CSPI dropped -0.3% yoy in June. German Gfk consumer sentiment and Eurozone M3 will be released in European session today. From US, the volatile durable goods orders are expected to grow 0.4% in June with ex-transport orders flat. Initial jobless claims are expected to remain elevated at 380k. Pending home sales are expected to rise 0.9% mom in June.

TECHNICALS: EUR/JPY

EUR/JPY Daily Outlook

Daily Pivots: (S1) 94.33; (P) 94.77; (R1) 95.40; More
Intraday bias in EUR/JPY remains neutral for more consolidations. Stronger recovery could be seen to 4 hours 55 EMA (now at 95.81) and above. But upside should be limited well below 97.37 minor resistance and bring fall resumption. Below 94.11 will target 61.8% projection of 111.43 to 95.64 from 101.62 at 91.86 next. Though, we'd be cautious on bottoming signal as it approaches 90 psychological level.

In the bigger picture, with 111.43 resistance intact, the down trend from 2008 high of 169.96 is still in progress and could extend further lower to 90 psychological level. However, as we're favoring the case that pattern from 139.21 is a falling wedge with bullish convergence condition in weekly MACD. Fall from 111.43 should be the last leg in such pattern. Hence, we'll expect strong support above 88.96 to contain downside, form a major bottom and bring reversal. So, focus will be on reversal signal.

http://www.actionforex.com/images/st...20120726a1.gif
http://www.actionforex.com/images/st...20120726a2.gif

CurrencyMan

CORRELATION

For those of you who are interested look at a chart of EUR/USD in the same time frames or any other time frame.

You will see a CORRELATION between EUR/USD and EUR/JPY.

I use this CORRELATION as my leading indicator by watching the movement of USD/JPY.

In fact the first three currencies on my trading platform are EUR/USD EUR/JPY USD/JPY

There is a reason that there is CORRELATION.

The US Dollar Index is made up of EURO which accounts for 57.6% of the Index. The Yen also makes up part of the Index along with the British Pound and Swiss Franc and Canadian Dollar and Australian Dollar.

Usually the two RISK OFF currencies are US Dollar and Japan Yen.

So when Risk is off as USD/JPY moves down which makes that currency stronger the EUR/JPY gets weaker and in turn the CORRELATION between EUR/USD and EUR/JPY is better understood.

By learning and understanding this your FX trading results should improve.

Good Trading and Follow The Money Flow.

lol no other choice ....

8. 11 International Agreements That Are Nails In The Coffin Of The Petrodollar


Is the petrodollar dead? Well, not yet, but the nails are being hammered into the coffin even as you read this. For decades, most of the nations of the world have used the U.S. dollar to buy oil and to trade with each other. In essence, the U.S. dollar has been acting as a true global currency. Virtually every country on the face of the earth has needed big piles of U.S. dollars for international trade. This has ensured a huge demand for U.S. dollars and U.S. government debt. This demand for dollars has kept prices and interest rates low, and it has given the U.S. government an incredible amount of power and leverage around the globe. Right now, U.S. dollars make up more than 60 percent of all foreign currency reserves in the world. But times are changing. Over the past couple of years there has been a whole bunch of international agreements that have made the U.S. dollar less important in international trade. The mainstream media in the United States has been strangely quiet about all of these agreements, but the truth is that they are setting the stage for a fundamental shift in the way that trade is conducted around the globe. When the petrodollar dies, it is going to have an absolutely devastating impact on the U.S. economy. Sadly, most Americans are totally clueless regarding what is about to happen to the dollar.

http://theeconomiccollapseblog.com/a...he-petrodollar



The Link and Enjoy...

http://www.democraticunderground.com/111619166

STOCK MARKET WATCH -- Thursday, 26 July 2012

Last edited Wed Jul 25, 2012, 08:10 PM USA/ET
STOCK MARKET WATCH, Thursday, 26 July 2012


SMW for 25 July 2012

AT THE CLOSING BELL ON 25 July 2012

Dow Jones 12,676.05 +58.73 (0.47%)
S&P 500 1,337.89 -0.42 (-0.03%)
Nasdaq 2,854.24 -8.75 (-0.31%)



10 Year 1.40% -0.02 (-1.41%)
30 Year 2.45% -0.03 (-1.21%)









Market Conditions During Trading Hours

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http://images.bloomberg.com/r06/homepage/HP_NKY.png




Euro, Yen, Loonie, Silver and Gold
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