EurAnalysis

I guess that pest killer is only 12 hrs active. PT may consider a different brand next time

chart attached below . 1.26 to 1.265 would be crucial area for reversal .

i always wondered what's there under the ocean , in case someone planning to go down there - would be please tell us if you find the Titanic's actress necklace

can you post your chart and entry for this little beaut of a trade,help a fellow trader understand what your looking at lol

I do believe he means we will be heading to the highlighted area if history repeats itself...though god knows I am more confused with the euro than enlightned of late.

Yep, buggs are heavy.

Man I really love your posts. I almost always learn something. Generations from Strauss and Howe. History of American Future, subtitle says. Its about life cycles.

T

The Daily Forex Brief is written by FxPro's team in the City of London

Visit fxpro.co.uk for more news, FX commentaries, FxPro TV, real-time feeds, calculators and tools.

Daily Forex BriefLondon: Thursday 23rd August 2012

Germany's mixed feelings on Greece Notable over the first half of this week have been the varied opinions coming out of Germany on how to negotiate with the Greeks. Some German politicians favour the tough love approach, arguing that Greece has already been cut a great deal of slack and that life after Grexit would be tough but manageable. Others are more flexible, wanting to avoid a Greek departure from the euro and appearing open-minded about granting Greece an extension. For her part, Merkel is playing her card close to her chest, reiterating overnight that no decision will be made until after she receives the latest report from the troika. Against the backdrop of the latest chapter in this Greek drama, the mood music in markets yesterday was decidedly defensive, with European equities retreating by around 1.4% and bond yields declining. The German 10yr yield, for instance, fell by more than 10bp at one stage to 1.45%. High-beta currencies such as the Aussie lost more traction – at one stage the AUD fell back to near the 1.04 level again.

Hi Glowing. Please read my daily update. I think it may answer any questions you may have.

http://www.actionforex.com/action-in...0120823172728/

Dollar was sold off sharply overnight as FOMC minutes revived speculation of QE3 and remained weak in Asia today. The Fed released another dovish minutes for the FOMC meeting in August. As the minutes indicated that many members believed that more monetary easing measures should be implemented soon unless upcoming economic data showed 'a substantial and sustainable strengthening' in economic recovery. Further monetary easing has now become a matter of 'when', instead a matter of 'if'.

Policymakers considered discussed a variety of easing measures, ranging from language guidance to balance sheet expansion. As the meeting was held before release of the July employment report, we believe the next trigger point would be the September report, together with the Beige book and Fed Chairman Ben Bernanke's Jackson Hole address on August 31. More in Dovish August Minutes, Fed Signaled Additional Monetary Easing Soon.

After meeting with Greek prime minister Samaras, Luxembourg prime minister Juncker expressed that he's "totally opposed to the exit of Greece from the euro area". But he emphasized that the extension of fiscal adjustment period "will depend on the finding of the troika mission. He said that Greece is suffering from " a kind of credibility crisis" and he urged Samara's fiscal efforts to be "credible", "identifiable" and "as strong as possible". German Chancellor Merkel and French President Hollande will hold talks in Berlin to "discuss flexibility in return for assurances and the two want to have a common line before the arrival of the Greek prime minister"

Rating agency Standard and Poor's said that a full bailout of Spain would not hurt its credit ratings. S&P said that "should Spain decide to request a full bailout, this would, in our view, constitute an official acknowledgement that the government is facing ongoing risks to financing itself in the capital markets at sustainable rates." But it noted "the potentially advantageous terms Spain could receive under a full bailout could enhance the chances of success of Spain's already ambitious and politically challenging fiscal and economic reform agenda".

From China, the conference board leading indicator rose 0.7% in July. But HSBC flash PMI manufacturing deteriorated again to 47.8 in August. The data showed that China's manufacturers are still struggling with global headwinds and raised some prospects for additional stimulus. The PBOC's injection of a total of RMB 220B through reverse repos to the public (RMB 150B using 7-day contracts at 3.4% and a further RMB70B billion using 14-day contracts at 3.6%) has led many to push back their forecasts of rate cut or RRR reduction by the government. Yet, recent data suggested the world's second largest economy has not benefited much from previous easing implemented by the government. Since our last China Watch, both the FDI and the PMI data missed expectations, suggesting the government should step measures to stimulate the economic growth, ensuring it would meet the target of +7.5% this year. More in PBOC Ought To Accelerate Easing Steps, As Recent Data Shows.

Looking ahead, Eurozone PMIs will be a major focus in European session. And focus in US session will mainly be on jobless claims and new home sales.
USD/JPY Daily Outlook

Daily Pivots: (S1) 78.12; (P) 78.74; (R1) 79.21; More...
Yesterday's sharp fall in USD/JPY and break of 78.78 minor support indicates that rebound from 77.99 is already completed at 79.65. Intraday bias is now back on the downside for 77.99 support. Recent price actions from 77.66 should either be a three wave consolidation pattern that's completed at 79.65, or a five wave triangle pattern. In either case, recovery attempt should be capped below 79.65 resistance and downside breakout is expected eventually. Below 77.99 should extend the fall from 84.17 through 77.66 towards 75.56/76.02 support zone.

In the bigger picture, firstly, there is no sign of reversal in USD/JPY yet and the larger down trend from 124.13 is still expected to continue. Nonetheless, consolidation pattern from 75.56 should extend for a while below 85.51 first. In any case , we'd stay bearish as long as 85.51 resistance holds and expect an eventual downside breakout.

http://www.actionforex.com/images/st...20120823a1.gif

Only in battle do you realize who your real friends are. Cheers to Rekon and CM.

Greece PM Samaras: Speculation on Greek exit must end – Le Monde

Greece needs a ‘little breathing space’
Greece will accelerate privatizations
His country can be saved
Euro exit would be a disaster for country
Euro exit would damage Europe
Euro exit would mean 70% Greek living standard drop
Greek living standards already down 35%
Greece in process of changing its systems
Greece finalizing 11.7 bln in budget cuts
Greek priority is to revive growth

So the Greeks have lost 35% of their standard of living and a Grexit will make them lose another 70%

According to my math (and I could be wrong here folks) 35% + 70% = 105%

I'm still scratching my head over that one
Please somebody enlighten me

Btw, what is vwap?

http://theeconomiccollapseblog.com/a...-of-the-summer

Snippet:

In the crazy times in which we live, it helps to expect the unexpected.

Sometimes you can think that you have it all figured out and then this world can throw a real curveball at you. Very few people anticipated that we would see a massive outbreak of the West Nile Virus in Texas this year or that the Mississippi River would be in danger of drying up after experiencing historic flooding last year. Who would have thought that we would see the worst drought in more than 50 years or that horrific wildfires would burn nearly 7 million acres of land? This is why economic conditions are always so hard to predict. A single "black swan event" can come along and change everything almost overnight. Our world has become incredibly unstable, and so who really knows what the rest of 2012 will bring? Will we see a stock market crash? Will the hurricane season be unusually bad? Will war erupt in the Middle East? Will we see a major earthquake on the west coast or even a volcanic eruption? Will the upcoming election cause an eruption of anger and frustration in America? We don't know the answers to those questions yet, and the truth is that we will probably see some things happen that very few of us are anticipating at this point.

This is an exciting time to be a "news junkie", but unfortunately the vast majority of the news these days is bad.

It is almost as if a "perfect storm" is developing. Our weather is going crazy, our financial system is on the verge of collapse, our politicians seem more insane than ever, there is evidence of social decay all around us and the drumbeats of war in the Middle East grow louder with each passing day.

As strange as 2012 has been so far, I fear that things are about to get a whole lot stranger.

Not that we haven't had some very unanticipated events happen this year up to this point.

The following are 8 economic threats that we were not even talking about at the beginning of the summer....

Snippet:

The Last Four Of Eight - Please Read...

#5 The Global Elite Hoarding Gold
In the past, the global elite and the mainstream media would mock those who are hoarding gold in anticipation of a major financial collapse.

But now it is the global elite who are hoarding gold.

In a previous article, I discussed how men such as George Soros and John Paulson are investing mind-boggling amounts of money in gold right now. The amount of money that these two individuals are investing in gold is difficult to comprehend....

There was also news last week in an SEC filing that both George Soros and John Paulson had increased their investment in SPDR Gold Trust, the world’s largest publicly traded physical gold exchange traded fund (ETF).

Mr Soros upped his stake in the ETF to 884,400 shares from 319,550 and Mr Paulson bought 4.53m shares, bringing his stake to 21.3m.

At the current price of about $156 a share, these are new investments of about $88m of Mr Soros’ cash and more than $700m from Mr Paulson’s funds. These are significant positions.

Combined, Soros and Paulson dumped more than three quarters of a billion dollars into gold during the second quarter of 2012 alone.

So what are they anticipating?

The central banks of the world have been very busy hoarding gold as well.

According to the World Gold Council, global central banks were net buyers of 157.5 metric tons of gold during the second quarter of 2012.

Over the past 20 years there has never been a time when global central banks have accumulated that much gold during a single quarter.

So just what in the world is going on?

#6 Recession In The UK

Everyone knew that Greece was in deep trouble.
And everyone knew that Italy and Spain were in deep trouble.

But it was a surprise to see the UK economy plunge deep into recession. During the second quarter of 2012 alone, the UK economy shrunk by 0.7 percent.

At this point the British economy has contracted for three quarters in a row.

Hopefully things will not get even worse over there.

#7 Major Economic Slowdown In The United States

Considering the fact that the U.S. economy never even came close to recovering from the last recession, it is a bit disheartening to see that it looks like we are headed for another major downturn.

According to Michael Panzer of Financial Armageddon, measurements of economic activity compiled by the Federal Reserve Bank of Philadelphia indicate that the U.S. economy is rapidly heading into another recession.

If you doubt this, just check out this chart.

And for a lot more reasons why the U.S. economy is entering another recession, check out this article.

#8 Hauled Off To A Mental Institution For What You Believe
Do you ever worry that what you post on Facebook could get you involuntarily committed to a mental institution?

Well, that is exactly what happened to one military vet recently.
A former Marine named Brandon Raub was hauled off to a mental institution because of what he posted on his Facebook page.

This is how the Economic Policy Journal summarized what happened to Raub....

The muscle used to grab Brandon Raub was local Chesterfield County, VA police. Also present during the grab were agents of the FBI and of the Secret Service.

Both the FBI and the Secret Service claim that they were only observing and not participating in the grab. The Chesterfield County police initially stated that they were only carrying out a request from the federal agencies.

The police also claim Raub is not under arrest, even though he was led away in handcuffs and is not permitted to leave the psychiatric ward of a hospital---even though it appears that Raub is not in any way in need of psychological care.

I note this happened in the United States of America, with local police, FBI agents and Secret Service taking part.

CurrencyMan:

I have the following to say about this informative article.

We are on the verge of something out of the ordinary about to happen. Of that there can be no doubt unless you are one of the hundred's of millions who prefer to hang on social media sights and watch American Idol. That just means if you stay ignorant you will be what you sow.


http://a6.sphotos.ak.fbcdn.net/hphot...29504612_n.jpg

Those that know and understand can earn substantial amounts of money in the events soon to unfold. In fact they are already unfolding.

We probably are better informed on this thread than many BILLIONS out there who for whatever reason are completely are in the dark watching the life of Britany and Lindsay unfold rather than having their own life.

Just think about what I have just said. The TRUTH is there if we understand and have a clear and open mind.

Rofl PT . I got almost choked with food.

edit: but seriously. Good joke, but its 70% of another 100%. From the actual, it would be 0,7*0,65= 45,5% from original. Total decline of 75,5%. Poor Greeks.

lol

It's a new form of math the europeans have brought in, it takes logic and throws it out the window and it now comes under the heaading where anything goes math. Like why the irish borrow for 6% when they can borrow from the EU for 2.5 % or whatever it is, its a lot less than 6%

Google

How about punch in your face? . Ok, I google.