EurAnalysis

Hello everyone.

It seems like 1.2840 can finally be achieved today.

~ 1.2810 seems to be a crucial level for now.



Any thoughts would be appreciated.

Thanks.

Right now we are attacking the Daily downward TL. Once broken and confirmed (Daily Close) I see 1.312 as next resistance on the Weekly charts which would then form a triple top.

Looks like You were right previously too Other time will take in mind what you ar saying.... Now I'm hung at sell positions 1.2700, 1.2720, 1.2740 and 1.2760 I'm f*$% up

Looks like both of you need to follow Lili..

Hello, Buda.

Don't get discouraged!

Disclaimer: I'm not always right, since I'm neither Bernanke nor Draghi nor... someone important .

For example, 1.2630 has not yet been achieved (I say 'yet' because it is still valid till 1.3020), although, and it does sometimes happen, this might be one of those counts that are not achieved at all.

hang in there, we will see 125 again soon. 2855 could be a turning point today

ive got my rally hat on, lets go 2850!

2850 is support turned resistance from:
oct 1, 2012
oct 10,11 2012

2850 is tested resistance from:
nov 7, 2012

upper downsloed linear TL drawn from
oct 17 peak - oct 31 peak

the TL coincides with 2850 which coincides w a price overlap likely occuring today. important level. suffice to day, an aggressive move higher in PA into the 2850-2870 zone should be followed by a fade without support of a fundemental/sentiment event.

its going up because of greece... like it is saved lol

Done for today scalping EUR/JPY 80 pips x W#$R%^

Trade safe all.

Very good show Ken, now mine,

Sell 100 X E/U 1.2820
Sell 100 X E/U 1.2800

SL & TP ?

I genearally do not use, now only considering these two entry I would put SL @ 1.2920 and TP Target primary 1.2730, 1.2690.

So market is still choppy after 20 hours. PA find interest in elephant bottom "

yeah. i am still looking for 2840+ ... considering a sell stop around 2760 though I personally dont like using stop orders

Eurozone risks rising as outlook darkens

By Mark Thompson @CNNMoneyInvest November 20, 2012: 10:18 AM ET

LONDON (CNNMoney) -- Investors want to believe eurozone policymakers can resolve the debt crisis. But the risk of a prolonged recession is rising, and with it the chances that more action will be needed to shore up the currency area.

A full 86% of fixed-income investors surveyed by Fitch Ratings said the European Central Bank's commitment to buy bonds of troubled eurozone nations, and European Union's plans for a banking union represent major positive steps, although 81% acknowledged "significant economic, financial and political risks remain."

Private forecasters think the European Commission is overly optimistic in its view that the eurozone will return to growth next year, after contracting by 0.4% in 2012, as deep spending cuts and tax rises take effect.

A weaker-than-expected performance would undermine those and other assumptions underpinning bailout programs in Greece and Portugal. It would also pile pressure on Spain to seek a formal bailout and further hobble core economies, such as France and Germany.
"The view embodied in our forecast is essentially that 2013 is going to be another extremely challenging year," said James Nixon, economist at Societe Generale, which sees the eurozone economy shrinking by 0.3% next year.

"The governments of Greece, Spain and Italy have embarked on multi-year consolidation programmes and next year is the second of three," he said.

Related: Europe central banks hold fire, for now

Oxford Economics recently forecast a shallower eurozone contraction in 2013, but predicted overall domestic demand would fall by 0.7%.

"We're already in the (fiscal) cliff this year and there is further fiscal tightening to come in 2013," said Marie Diron, director of macro forecasting at Oxford Economics.

Spending by governments on goods and services, which has a direct impact on economic activity, would fall by 0.8%, compared with just 0.1% in 2012, Diron said, pointing to cuts in Spain and Italy that have not yet been implemented.

Southern Europe's woes have already begun to affect the core. Germany has seen growth slow, and Moody's stripped France of its AAA credit rating Tuesday, citing its exposure to shocks from the eurozone periphery.

Reaction was muted -- the euro dipped and French government bonds were broadly stable -- but Moody's warned that any further deterioration in France's economic prospects or ability to implement reform could trigger another cut.

The downgrade could presage cuts for those top-rated countries, said Steven Englander, global head of G10 FX Strategy at Citi (C, Fortune 500).

"Little of what they cite is new and the downgrade reflects a reality that has probably long applied to France and applies to a number of the remaining AAA countries as well," said Englander.

Germany, the Netherlands and Austria are feeling the effects of the eurozone slowdown and like France, are also funding existing bailouts.

Market nerves were calmed in September when the ECB announced its bond-buying program. The program, known as outright monetary transactions or OMT, requires governments to seek a formal bailout first.

Related: Spanish unemployment hits new peak

Spain, which has already received pledges of support to recapitalize its banking system, has held off asking for a bailout but has a mountain to climb in 2013 to meet its fiscal targets.

"The government's plan so far seems to have been to wait-and-see and it is unclear why this should change unless markets were to sell off more broadly or economic activity to fall even more sharply, creating a stronger sense of urgency," UBS FX strategist Beat Siegenthaler said in a note.

"The risk of a broader sell-off has certainly increased over recent weeks as the OMT-induced rally has run its course and, apart from a favorable Greek review decision, there seems little on the policy horizon in terms of supportive events," he added.

Underscoring the challenges facing southern Europe, Moody's also kept a negative outlook on Italy's banks, and said the ratio of problem loans was rising faster than it expected, driven by the impact of the recession on companies.

"This trend shows no sign of abating; combined with bank deleveraging and a corresponding contraction in the supply of credit, further pressures on asset quality are inevitable," the agency said.

Was at training but got mobile TP's at 45, 50 and 60...

Loving it... Hoping we could get a pullback to fire up another lot ;-)

Hey, How did that downward move yesturday show as a gap on your chart? what broker/trading platform do you use? Thanks

Nothing is going to happen for EUR/USD today. The choppy we see was dragged by EUR/JPY, EUR/AUD and other EUR crosses.

its a futures chart of the december contract from the chicago merc. i use cunningham trading systems for my platform. depending on the instrument, there are periodic closures for set periods of time each day.

well. I didnt like the euro setup but i got one with the S&P

sold at 1387 and took a long put @ 1385 strike for 22. ill cover that put at 1380 for the outright contract relative price and hold the contract to see if it can test 1375.