EurAnalysis

Is it a coincidence Merkel is on vacation?

Nope. It's no coincidence. It's confluence

Its Friday dude!

Good little snippet:
http://www.dailyreckoning.com.au/how...et/2012/07/27/

Nice piece

Hi everyone, well its friday and the start of the olympics.One nice trader brought my attention to USA LIGHT CRUDE OIL and i have spent many hours since studying it lol.I know its friday and its normally a no trade day but i might have a trade or two if the conditions are good. take care all.

Business as usual

When you return from vacation then bring the price down again

Good morning all.

Today's update is going to be a summation of yesterday's update and subsequent posts as the events unfolded. It's important to understand what happened yesterday in order to fully grasp why this pair will soon be heading south again. If you still have questions afterwards, feel free to ask. However, I may take a while to answer as I will be heading out to run some errands this morning.

So, here we go...

Morning Update of Thursday 26th July

Super Mario's verbal diarrhea

Subsequent technical update

Additional skeptical comment

My thoughts on why it may go higher (but not by much)

About ESM banking license

What will reverse the hopium

More Up?

Where we sit now (E/U Weekly)

I suspect euro will close today around 1.2250. I see it as traders who are in the long, might just for risk aversion close for a profit as USA opens. So I have placed a sell at 1.2285 with the R1 as target, 2244.

Hi PT,

Some views on how US GDP figs will affect market will be helpful...when you have time :-)

2400 may happen today, in which case I'll get my hammer out too....

& this is my way of saying .......

nice

I think that market will consolidate with a Bullish bias today.A break above 1.2315-20 could resume the uptrend though but there are very little chances of downtrend on on the pair today.

Okay I have to head out so I'll write a few lines on it.

There is not much to say other than the obvious that the US GDP figure has an impact on the USD. Higher GDP = higher USD and vice versa. At least that is how it is supposed to work in theory. However, in order to keep this short, it will suffice to say that based on the current market conditions with Europe in the outhouse and the market depending on the US to lead the global recovery, plus the fact that the QE3 bandwagon have already partially priced in another round of QE, the theory does apply.

The economist expectations right now are quite low for US GDP at 1.5%. I would assume that a 1.5% figure is already priced in to the market so that is the benchmark we have to use. I really don't see how it could come out much less than that... Maybe 1.4%. On the upside I see it as high as 1.7% but no more. Of course I am not psychic and I am not using hard data to arrive at my projections, but there you have it... between 1.4% and 1.7%. This translates to a higher probability of a higher than expected number... based solely on my fuzzy accounting

Now I'm off and I hope to be back before the number is released.

Cheers
PT

Why I failed yesterday ?

1. Not ready to trade. Suppose to do other jobs this few days.
2. No 'sound trade plan' .
3. Not maintaining trading discipline and patience. Took long @ 1.21672 but closed too early.
4. Failed to Adapt to the Market. Planning the counter trade as market change.
5. No concentration.
6. Failed to analyze the strength of Mr Draghi speaks. The assumption was the market will move within the range of +/- 100 pips.


ADD : What I meant is failed to get a better profit result. My trade end in green pips and my short closed at BE.

You are welcome and good to see your charts again . Anyway congratulations for the green pips you got yesterday. Good job and GL to u. .

Thanks dude... Let's see, what draghi do for the next..

Bundesbank has NOT changed it's views on ECB buying Gov't bonds.
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More news coming out of Germans today to contradict El Draghi! We going down today!

It took her long enough thought I was going to have to buy her a drink to get her down...