EURUSD

Decent amount of buying going on at the 3023 level. Will close if we start printing heavily below that.

God bless the Queen Mum...!

Quick survey for the EUR/USD (Dec 3, 2012 08:00) ...


Euro Hits 6-Wk High vs Dollar as Confidence Gradually Returns

3 Dec 2012, 06:47

--Euro hits highest level in almost six weeks vs dollar

--Confidence seen gradually returning to euro zone

--Yen weakness hits resistance as yen bearish positions swell to largest since July 2007


By Kosaku Narioka


The euro rose to its highest level in almost six weeks against the dollar in Asia on Monday as recent euro-zone efforts to keep the region intact, including Germany's decision to approve a package of fresh Greek support measures, raised confidence in the region, albeit incrementally.

German parliamentarians on Friday gave the green light to a package of new aid measures for Greece with an overwhelming majority, offering their support for a plan to close a EUR14 billion gap in the heavily indebted nation's finances.

The euro's gains hit stop-loss buying orders at $1.3035 early in the session, further fueling the rising momentum, Tokyo dealers said.

"The euro has become increasingly less sensitive to negative developments," said Michiyoshi Kato, senior vice president of forex sales at Mizuho Corporate Bank. "Euro bearish positions are being smoked out."

European Central Bank policy maker Christian Noyer said in Tokyo he sees signs of a gradual return of confidence in the euro area, but warned that structural reforms in European economies must be pursued vigorously.

The euro was at $1.3038 as of 0450 GMT, after rising to $1.3048, its highest level since Oct. 23, according to EBS. The euro was at $1.2986 late Friday in New York. The common currency was at Y107.44 from Y107.13.

Germany's approval came after Greece's official creditors agreed last Tuesday to a number of steps to cut the country's debt to 124% of gross domestic product by 2020.

Last Wednesday, European Union regulators gave the go-ahead for EUR37 billion in euro-zone funding for Spain's stricken banking sector.

"The euro-zone risk has receded substantially since the summer as Germany has agreed to indirectly put up its money to support others, if only reluctantly," said Kosuke Hanao, head of FX at HSBC in Tokyo.

Still, a sluggish economic outlook in the euro zone is now limiting the common currency's further gains, he said.

The yen, meanwhile, saw some respite from its recent weakening momentum. The dollar hit a seven-and-a-half-month high of Y82.84 on Nov. 22 from a low of Y77.13 on Sept 13.

The net amount of investor cash betting the yen will fall increased to its largest size since July 2007, U.S. government data showed Friday.

As of Nov. 27, investors had increased their net short yen positions 54% to $12.1 billion, from $7.9 billion the previous week.

"There will likely be an adjustment phase after (the dollar/yen) having risen in such a one-sided way," said Mizuho's Mr. Kato.

The dollar was at Y82.40 from Y82.48, and was at CHF0.9252 from CHF0.9280.

The Wall Street Journal Dollar Index, which tracks the U.S. dollar against a basket of currencies, was at 70.209 from 70.363.

The U.K. pound was at $1.6041 from $1.6016.


December 03, 2012 00:47 ET (05:47 GMT)


2012-12-03_00h00 - ZigZag + Pivot Survey _ EURUSD _ Roll Up _ W-49 # FC51 (EN Daily, Weekly).PNG (130.4 KB)

2012-12-03_08h00 - ZigZag + Pivot Survey _ EURUSD _ Rolling _ W-49 # FC51 (EN Daily, Weekly).PNG (132.7 KB)


Outlook for the sessions ahead (WEEK NO. 49) and latest "Trade Hints" for Monday (Dec 3, 2012) ...







;-|

greece announce 10B bond buy back

BE out

few pippers bagged earlier

Interesting. I'm curious though, what's your source?

Expecting PA to move down to 50% fib 29 area

Took a short @ 1.3035... TP 1.2980ish...

with ya

me too

Why do I have such low self-esteem mate...! I feel better when you guys have the same direction that I have...

If you have the right feel for trading, the right perception and the right mind, its just a matter of time, practice and patience.
And you will get everything you want.

count me in on the ride too

good morning all.
i think it wants to go higher. but lets see
long from 25, sl at be

Working on it dude.. Long way to go as it seems... Trading I am not new to it but trading this cripple, well... Very very very tough...

Still holding long with +11. Well, we'll see how it plays out....my perspective is that this was a major resistance zone that was broken, and for it to fall below would be a huge sign of weakness. With the way the Euro has weathered the bad news recently, I expect the uptrend to continue at least until the next bear stronghold.

I started in 2005, it took me 3 years to become profitable.
Like I said .............patience.

The more the merrier mate...! I hope you also get a good piece out of this morning's apple pie... Hurra Xmas is almost here

Short 3029 3036
Nothing like collective bears!

I'm sure it was well worth it....hopefully I manage to make it to your level of success in due time.