EurAnalysis

By Wellington open if risk appetite shifted should push it down again.

i think Euro need this one..

http://4.bp.blogspot.com/-gSpgVanLWO...sexy+nurse.jpg

At a certain age a private nurse is as important as a private dancer.

Tina Turner - Private Dancer which is one of my favorite mood songs.

http://www.fundamentalforexoutlook.c...nd-greek-exit/

Snippet:

European Crisis Update: ECB Intervention And Greek Exit

http://www.fundamentalforexoutlook.c...uro-crisis.jpg
by Henry Liu on August 20, 2012
(EU) European Central Bank (ECB) is considering establishing interest rate ceiling levels for troubled states as part of its future bond purchase program; To make a decision on target rates at its next meeting (Positive)

(EU) ECB responds to German press report on possible intervention: (Negative)

1. Bond yield targets have not been discussed by council; absolutely misleading to report on decisions not yet taken
2. Governing Council will act strictly within its mandate and wrong to speculate on the shape of future ECB interventions

(DE) German Finance Ministry monthly report: Economy to grow at a slower pace due to weaker demand in euro area (Negative)

(ES) Spain Econ Min de Guindos: Would like to see the ECB commit to massive, open-ended sovereign-debt purchases before it asks for help (Positive)

(ES) The Spanish government may consider additional austerity to meet its 2012 deficit target if the tax revenue outcome turns out to be inadequate. The 2012 deficit-to-GDP target is at 5.3% (and is 3.0% for 2013) (Neutral).

(EU) ECB’s Asmussen: Greek exit would be manageable but not preferred; Up to Greece to stay in the euro zone (Neutral).

(GR) Greece budget shortfall could be bigger than previously believed, reaching as high as €14B (vs €11B prior estimate) (Negative).

1. The paper cites preliminary findings of the Troika mission to Greece, showing the Greek budget gap is bigger than previously estimated due to lower than expected tax revenues and slow progress on raising funds through privatizations of govt held assets.
2. Auditors also said to have received inadequate plan from Greece govt on reaching €11.5B in savings for 2013-14.

How to interpret these headlines?

European Crisis Update: First of all, any ECB action to support the EU should be considered as positive, especially when it addresses the cost of funding for troubling members such as Spain and Italy. The Interest Rate Ceiling is a good way to cut yields, and when you combine that with outright bond purchases, Spanish government may have a chance to avoid further deterioration of its economy… The situation in Spain is no longer if it needs a bailout, but more of a question of how to negotiate the best terms possible by holding out and drag the rest of Europe with it… This is clearly a game of chicken as the Spanish Fin Minister is now asking for ECB to commit an open-ended debt purchases, responding to ECB’s pledge that it “may” act if a member state requests assistance, as both parties want to reserve their flexibilities… We’ll have to see how it plays out in the near term.

As far as Greece is concerned, I believe they will have to exit the EU, and the market has already priced in that potential scenario… Although we don’t know for sure what the extend of the fallout from a “Grexit” will be like, it is safe to assume that most financial institutions with heavy exposures have adjusted their positions since the last Greek election, leaving perhaps only the ECB and other central banks in the hooks for now, but they have deep pockets and the power to print more money, so the effects should be “manageable” as ECB Asmussen puts it…

As far as the general health of the EU, that’s going to take a while longer. As much as it is hard to imagine, with the European debt crisis unfolding in the last few months and Euro’s fall from grace against the USD, Euro has become more competitive to say the least, and what goes down must come up, that’s the rule in Forex.

All in all I’m more inclined to buy EURUSD on dips, considering the potential for improvements, ECB intervention, and Fed QE announcements, it is a no-brainer in my opinion…

CurrencyMan: For information purposes. You should always make your own decisions after looking at all possibilities.

Trade Safe...

Just got back from golf.

Ken and Tom made my day with their comedy routine!

Neither one quite understood the other by mistake or design.

Either way it left a smile on my face!

Thanks guys....or gays....or longs......or whatever!

Here You are, been waiting for your news update, nice info for beginners like me

daughter just walking past on her way to bed, screams out TRIANGLE so i guess i have to trade it for her lol. Its a good hedge as if it goes wrong i will pay. she only trades before and after school. nice one. take care

You are very welcome.

Even though I walk through the valley of the shadow of risk, I will fear no lost, for stop-loss with me; discipline and patient, they comfort me.

Have a Great Day !!!

Yeah that was pretty much the highlight of the day. It was so hilarious. Neither one of them understood what was going on. I haven't laugh so hard(no pun intended) in a long(no pun intended) time..

Hi Friends
Floating... floating... floating...

Cheers
aligater

gathering posts in different threads?

anyways still holding my shorts, probably until tomorrow EU opening, today was kinda disappointing

yes ,,,wherever i have friends ...
I hope you let me ...

Cheers
aligater

btw what is your reason behind the shorts ?
whats your logic ?

here is my reason why not to take a short ,,,
as posted...

Cheers
aligater

I have no more time for youre response ,,, sorry,,
im going to sleep now...

Cheers
aligater

what can i actually see there, break above daily range?

Maybe they meant they are staying out because it's so flat :S

What an unexciting day. Dollar has barely moved at all in the last 8 hours as well.

Edit to add:
that's a 30min TF

so I guess that has worked as it has crossed multiple times over those lines?

Much more news tomorrow and I think we will move more. Thanks for your chart.

Markets might be topping out ?

A drop on the Dow of 100 points or more will move things around. Watch Gold as it may be key.

Swiss America's
http://www.swissamerica.com/images/p...0425025159.jpgGold News Daily
by DAVID BRADSHAW
Editor,Real Money Perspectives

8.20.12 - Fed to Banks: Gold is Money Again!- Listen
Gold prices inched toward $1,625/oz. Monday on bargain hunting and weaker dollar, stocks gyrate on uncertainty. Gold last traded at $1,621 an ounce, silver traded at $28.83 an ounce.