Forex Signals – EURUSD Fed Full of Bull
Recap: We are wishing we had kept those resistance break longs from Monday open just a bit longer right about now :). Of course hindsight is 20/20 and a temptation us day traders can’t afford. If the pair had dropped we’d be wishing we would have closed our long earlier. Better to stick with our motto: it is always better to miss out than to miss your equity.
No EU trades taken yesterday as a high probability support line never developed for us to trade. The pair appears to be consolidating between a gradual rising support and a even more gradual falling resistance (see chart below).
Today’s Important News Events:
| Date | Time (UTC) | Event | Forecast | Previous |
|---|---|---|---|---|
| Wed Jun 20 |
06:00 | EUR German Producer Prices (YoY) (MAY) | 2.2% | 2.4% |
| 08:30 | GBP Bank of England Minutes | |||
| 08:30 | GBP Jobless Claims Change (MAY) | -3.0K | -12.7K | |
| 16:30 | USD Federal Open Market Committee Rate Decision (JUN 20) | 0.25% | 0.25% | |
| 18:00 | USD FOMC to Release Projections of Economy and Fed Funds Rate | |||
| 18:15 | USD Fed’s Bernanke Holds Press Conference | |||
| *To see a more extensive list of news events (not just those we consider important), visit our Forex Calendar. | ||||
Plenty of news today!
Trading Idea: We will look to take a long on a resistance break today with targets at 20/20/25/25 for 90 pips. We are actually more bearish than bullish but the only solid support is 130 pips away and we are concerned a support break at that distance won’t provide the *pop* we require in our swing trading system.
There is an aggressive short to be had here above 1.2700 targeting the rising support for 100 pips (we are not taking this trade).
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June 20, 2012 at 12:48“A deal between the pro-bailout New Democracy party and socialist Pasok has been struck to form a new coalition government following parliamentary elections on Sunday, news reports said. Details of who the ministers will be are expected to be finalized later Wednesday, according to the reports. The BBC further said that the small Democratic Left party also is expected to be part of the governing coalition with New Democracy and Pasok. As the winner of the majority vote in the elections on Sunday, New Democracy had until Thursday to form a government; otherwise the antiausterity Syriza would have had a chance, as it came in second”
source: http://www.marketwatch.com/story/greek-new-democracy-pasok-form-coalition-reports-2012-06-20?siteid=bnbh
sahara
June 20, 2012 at 12:55gm @Mark !! i like this syriza !! with nothing ;;;;all europe is afraid banks in first front !! debt debt !! this newgun to kill all of us !! (tunisia a littel country and we are in the same thing debt grrrrrrrrrrrrrrr!!
sahara
June 20, 2012 at 13:14the day ,if we will understand that debt is our problem every where we are ,we will change our life in better ! away from war and jobless !! the key is “our monney betwn our state hands and not banks !!
sahara
June 20, 2012 at 13:40building something ????!! hope in my way
Jim
June 20, 2012 at 13:57@sahara
It’s been said that debt is “the yoke that enslaves mankind”
The FEDS are an amazing conglomeration of private banks that possess enough power to control governments.
Is it coincidental that every US president who has advocated disbanding the FEDS has either been assassinated or stripped of power and pushed into a life of mediocrity?
As Thomas Jefferson said
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.”
Jim
June 20, 2012 at 13:59lol….. when your a hen in a hen house full of wolves it is best to disguise yourself as a wolf
sahara
June 20, 2012 at 14:04a wolf deguise in a camel !!!a hen is in the field for fresh eggs !!
Johnny
June 20, 2012 at 14:14Was busy again,,,,,,Grrrr
Closed my both Shorts , one with little loss and one with little +pips….All in all nothing catched nothing gone…
Went Long again @2695 aiming 2750 Lets see… GL
Johnny
June 20, 2012 at 14:14And thanks Mark @Piphut…..!
Johnny
June 20, 2012 at 14:16@Kayus – You forgot to mention the PL on the Daily just a while ago :-)
Johnny
June 20, 2012 at 14:52Has the light gone out in this Piphut community????? Or is everybody hiding for mean ole Ben???
Jim
June 20, 2012 at 14:55Best I’ve read in a long time…. per Future Money Trends………
———————————————————————————
If you don’t know how to trade volatility or more importantly…. if you can’t stomach it, get out. It may be time for many of you to cash up in our opinion, the next few days could have some very significant up and down days as we move into the FED meeting. We do expect the FED to ultimately disappoint the markets, however this is pure speculation as the fundamentals of our economy have NOTHING to do with our larger indexes like the Dow Jones.
Will the computers that account for 80% of trading today go ape sh**, only time will tell. But remember, it doesn’t matter how good of a company you hold, in a broad market sell off almost all shares see losses.
Right now our staff is focusing on some potential winners for our members, ones that are significantly undervalued and may be as close to “as good as gold” as you can get!
Look for our analysis of the markets later this week, as well as potentially the next big company we plan to start accumulating before the real QE3 (Big Print) is announced later this summer.
By Front running QE, Did The Market Make QE Impossible?
From ZeroHedge.com
Ever since the beginning of the year we have been saying that in order for the Fed to unleash QE, stocks have to drop by 20-30% to give political cover to the Fed (and/or ECB) to engage in another round of wanton currency destruction. Because while on one hand the temptation to boost stocks is so very high in an election year, the threat to one’s presidential re-election chances that soaring gas prices late into the summer does, is simply far too big to be ignored. Yet here we are: stocks are just 4% off their 2012 highs, even as bonds are near all time low yields, and mortgages are at their all time lows. As such, even with the latest batch of economic data coming in simply atrocious, the Fed finds itself in a Catch 22 – it wants to help the stock market hoping that in itself will boost the “economy”, yet it knows what more QE here will do to the priced of gold and inflation expectations: something which as Hilsenrath himself said yesterday does not compute, as it runs against everything “Economic textbooks” teach. What is more important, is that the market, like a true addict, is oblivious to any of these considerations, and has priced in a massive bout of Quantitative Easing to be announced tomorrow at 2:15 pm. There is one problem though: has the market, by pricing in QE on every down day – the only buying catalyst in the past month have been hopes of more QE – made QE impossible? Observe the following chart from SocGen which shows 6 month forward equity vol. What is obvious is that due to precisely being priced in, QE is now virtually unfeasible, irrelevant of what Goldman and its “FLOW QE” model tell us. As SocGen simply states: “More stress is needed to trigger ample policy response.”
Naturally, SocGen is not the first to get this. Recall that this is precisely the logical espoused by both Citi a month ago which warned of XO crossing above 1000 bps first, and then Deutsche Bank this weekend saying a crash may well be needed to jar Europe out of inactivity like last fall. Not to Goldman though. Goldman is confident that the 4% drop in the S&P from its highs is enough to unleash an epic episode of monetization.
Of course, if Goldman is right, and the Fed does indeed go ahead and launch some version of a Flow-based easing program, with a $50-$75 billion monthly monetization total, then kiss it all goodbye, as going forward the market will consider even a one tick drop in the ES a sufficient reason to kill the USD, and buy every ounce of physical gold available. In the process, of course, the Weimar wheels will start turning.
Furthermore, while stocks are always in their little world, and always, absolutely always wrong in the long-run, recall that the fixed income markets are saying something totally different: no bombastic LSAP program, but a very timid Op Twist expansion, where the 3 year selling threshold is extended by one year to include 4 year bond sales. An outcome such as this will send stocks plunging as it is merely more sterilized easing – the kind of intervention that has had no real impact on risk at all as all risk gains in the past 9 months have came solely from Europe’s $1.3 trillion LTRO-based balance sheet expansion.
So what will it be? More QE, whereby the Fed admits defeat and hands over the monetary apparatus to an increasingly more petulant market, or no QE, and a wholesale risk crash in one day.
Johnny
June 20, 2012 at 15:02@Doc1 Just to your information: (From my good friend Chuck)
In the U.S. the labor market continues to circle the bowl… I was reading again late last night, couldn’t sleep again, and came across some data that just caught my eye! The extended unemployment benefits are now running out at a pace of +100,000 per week… Uh-Oh! I have to say that I’m glad to not hear any calls for more extensions to the benefits… 99-weeks is the current benefit… I’m going to get myself into hot water with some people here, but, I would think that after 99 weeks, nearly 2 years, if you haven’t found a job, that you’ll not find one now… And that’s a sad thing for our country and economy, folks…
Johnny
June 20, 2012 at 15:02OK.. The Then There Was This section today is a bit long, but I wanted to get you most of the article because it’s the stuff I tell people all the time, but just like my kids, if they hear it, or you hear it from someone else it will carry more weight… So, here snippets of an article by Dominic Frisby over at MoneyWeek.com, responding to someone saying that “Gold pays no interest, has no use, and no fundamental value”… Dominic has a problem with that statement, and here are his thoughts…
“First, gold pays no interest. True. But then, nor does cash – unless you lend it to people. The world needs to realise that by putting cash in the bank you are lending it. But in this environment of negative real rates (when the central bank rate of interest is below the rate of inflation), who gives a hoot about interest anyway? 1 or 2% interest. Whoopee-do.”
Next, there’s this idea that “gold has no use”. Really?
Gold has very little industrial application, yes. It’s too expensive. But no use?
Gold, unlike bubbles and government bonds, lasts forever. This makes it a highly effective form of money, as I’m about to explain.
But how can gold be money, runs the next argument, when you can’t go into a shop and buy stuff with it? Absolutely. You can’t. Err … actually, you can. The gold sovereign is still legal tender. As a day-to-day medium of exchange, gold has never found much use. A piece of gold the size of a penny (about £125 or $200 in today’s money) contains too much value for anything other than expensive transactions. Copper, nickel, silver, paper and now digital money have all found far more prolific use.
But to assert that you can’t buy stuff with it therefore it isn’t money, is a facile and ignorant argument. Money is more than just a medium of exchange. Indeed, this is just one of the three essential functions of money: it also has to act as a store of wealth and as a unit of account
Governments can’t print gold, they can’t ‘quantitatively ease’ it, they can’t loan it into existence. They can’t debase it the way they do their own currencies. It just stays there, unconsumed, forever. Which all means that gold is constant – and therefore an excellent unit of account, far better than government money.
Demand for a store of wealth tends to fall during times of economic expansion – such as in the 80s and 90s – and so the gold price falls. People are looking for opportunities to grow their wealth, not simply hang on to it.
On the other hand, demand for gold increases during periods of economic contraction and monetary stress – such as we have experienced, on and off, since the turn of the century. These are times when people are more concerned – as the oft-quoted saying goes – about the return of their capital, rather than the return on their capital.
Gold’s fundamental use is to be money.”
Johnny
June 20, 2012 at 15:03To recap… G-20 ended with a statement about taking necessary steps to defend the Eurozone… Italy proposed a change to the EFSF to help them and Spain. The Fed’s FOMC meeting ends today, will they or won’t they announce more stimulus… If they do, I believe it will be the watered down extension of Operation Twist. The currency / risk rally continued yesterday, but has seen some slippage this morning ahead of the FOMC announcement this afternoon.
Jim
June 20, 2012 at 15:04@johnny pc
Far right conservatism is not the solutiom… go ahead and kill that horse and see what happens to the economy….
You want a solution…. stop penalizing private business for making profits and bring the work back home….
Jim
June 20, 2012 at 15:08sorry @ johnny :)
Jim
June 20, 2012 at 15:09@johnny per your article…
I agree totally….. gold is real… paper is smoke…. a fiat currency is only as good as the illusion of worth….
Johnny
June 20, 2012 at 15:10@Doc nbr 1 – To your information, they call me the socialist at Pete s Place…:-) Because I m giving a helping hand now and then to the ones in need….And , paying for about every second round of drinks :-) How could I be far right ??? :-)
Kay
June 20, 2012 at 15:33:) got your joke and humour
Jim
June 20, 2012 at 15:16lol :) I never said you were far right ..I only stated that to kill unemployment benefits at this juncture in the game is a far right approach and ultra conservative… I was under the assumption that the statement was made by a different source other thatn yourself… my apologies if I intimated that you were far right or anything else…
btw… now I know where to go for a free drink :D
sahara
June 20, 2012 at 15:20free one ?? where ?? no one invite me grrrrrrrrrrrrrrrrrrrrrrrrrrr
sahara
June 20, 2012 at 15:27i want to discuss with you about all of this (debt;economy,jobless and banks…..) but i do not found all word in english … will try to write here but in french and if someone can translate it (not with google grrrrrrrr)…. You know from the day where our monney is between private banks (and dbt too) we will not see a “sun day !!!)
Johnny
June 20, 2012 at 15:28@Sahara No parking place for Camels at Pete’s (Just a tiny pub, but in the early hours of the day it looks like its twice a big counting the nbr of ladies and gents enjoying their time…At 05.00 in the morning Pete is preparing breakfast for the leftovers :-) Probably one of the best places in my little town :-) Come around one day….Be my guest
sahara
June 20, 2012 at 15:34with pleasure !!!!
Kay
June 20, 2012 at 15:35and me? when will u invite me over haha
sahara
June 20, 2012 at 15:39in tunisia this summer(will be there all the season) if you want with big pleasure !!
Johnny
June 20, 2012 at 15:45Of course my friend….will sent you a first class ticket…But first need to do some more trading to fill my piggybag :-)
sahara
June 20, 2012 at 15:48camels my @friend kayus do not need any ticket !! we have our flydesert compagny!!
Kay
June 20, 2012 at 16:07haha:)
Jim
June 20, 2012 at 15:36fwiw… you can watch the FOMC press conference live at 2:15 today here
http://www.forextv.com/forex-news-story/bernanke-speech-live-following-fomc-decision-live-video
sahara
June 20, 2012 at 15:37http://imageshack.us/photo/my-images/138/markmy.png/
Johnny
June 20, 2012 at 15:47We seem to stay above an important level thus far (2685) and I think that aint bad :-)
Johnny
June 20, 2012 at 15:48TO YOUR INFORMATION:
FXstreet.com (Barcelona) – The single currency has traded in a pretty upbeat mood after the new coalition government has formed in Greece, bolstering at the same time the demand for risk associated assets.
According to TD Securities, the euro and the rest of its peers are trading in some sort of auto-pilot mode, waiting for the Fed statement. “While we are biased toward EUR pressure from the Fed statement,we aknowledge the FX reaction to the statement is fairly uncertain”, hence the broker house suggested to watch for key levels after the event: resistance at 1.2750 and 1.2790 while support levels are located at 1.2580/90 region.
Johnny
June 20, 2012 at 15:52M30 PL, H1 SS, H4 Bull Eng., Daily PL—
Harry
June 20, 2012 at 15:53Hi everyone
Thanks Johnny. We never saw that drop to support. Couple of stop grabbers today. I caught the nice one on cable just before 1.00pm (GMT) obviously taking out stops around 575070
Harry
June 20, 2012 at 15:53Sorry that should read 5750 / 70
Johnny
June 20, 2012 at 15:58From having a close look at my puzzle….If we wont see a quick sustain breach of 2725 (and keeping its head above for further upmove towards 2800….Then I think we may have to go down first toward 2600 or little above there…And we will bounce off again to meet the levels we are presently again (and above) ! My view…. (I will prepare myself for a dive if 2725 is not breached before FOMC…Do as you please….
Kay
June 20, 2012 at 16:0130 minutes to FOMC statement
John R
June 20, 2012 at 16:07More important is Ben speaking an hour later after that. So, wait until Ben’s speech.
John R
June 20, 2012 at 16:06Hello everyone.
My plan is to Long swissy when EURUSD reaches above 2800.
The rally will be shortlived.
Kay
June 20, 2012 at 16:10and what will b your take on UJ towards the FOMC, it has bn bullying int he last couple of minutes, will that b said to be a rally or what? or is BOJ intervening again:)
John R
June 20, 2012 at 16:15My guess is that USD will be bearish for overall FOMC today.
Tomorrow, it is business as usual and USD bulls.
Hope that helps UJ bears.
Kay
June 20, 2012 at 16:37JOHN!!! are u watching your charts
Kay
June 20, 2012 at 16:1219 minutes to fireworks
Zeeshan Anjum
June 20, 2012 at 16:24stream for fomc
http://www.ustream.tv/federalreserve
Kay
June 20, 2012 at 16:29120 seconds to fireworks, better to watch from the sidelines haha
Kay
June 20, 2012 at 16:35b aware of false moves, falase moves preceeds real moves
Johnny
June 20, 2012 at 16:37Ha ha…Good I folllowed myself…Nice diving…:-)
Kay
June 20, 2012 at 16:41haha, only if u left your short running haha
Kay
June 20, 2012 at 16:38be prepared to buy the dip, this is set to give a nice dip to buy haha
sahara
June 20, 2012 at 16:41my short !!! very well !!
sahara
June 20, 2012 at 16:46all hit!!
Johnny
June 20, 2012 at 16:41Read my comment above Kayus….I will prepare for buying the dip….This is not a sell the rally, thats outta time nowadays….
Looking for 2610 to buy again back to 2730 lets see….Busy with my business again in between…When they let me free… Grrrrr
Kay
June 20, 2012 at 16:54best of luck, will come back to rtade afetr the whole fireworks
Johnny
June 20, 2012 at 16:47Fed: Let’s Twist Again
http://www.youtube.com/watch?v=VjQwfkQj6e4
Kay
June 20, 2012 at 16:49i need short on UJ too, i am 33pips negative there now, i will bail out at BE, the trade was in error (system error)
sahara
June 20, 2012 at 16:50and now am in with order buy!!
sahara
June 20, 2012 at 16:51we need hourly closing 2690 !! to continue long!!
Jim
June 20, 2012 at 16:55…. SOS :D …now we enter the disappointment phase once the s+*t settles then the response … of course we have the press conference to get through but I’m thinking 2550/2600 before we get support again and the next round of QE hopes…lmfao :DDDDD
For immediate release FOMC Statement
Information received since the Federal Open Market Committee met in April suggests that the economy has been expanding moderately this year. However, growth in employment has slowed in recent months, and the unemployment rate remains elevated. Business fixed investment has continued to advance. Household spending appears to be rising at a somewhat slower pace than earlier in the year. Despite some signs of improvement, the housing sector remains depressed. Inflation has declined, mainly reflecting lower prices of crude oil and gasoline, and longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects economic growth to remain moderate over coming quarters and then to pick up very gradually. Consequently, the Committee anticipates that the unemployment rate will decline only slowly toward levels that it judges to be consistent with its dual mandate. Furthermore, strains in global financial markets continue to pose significant downside risks to the economic outlook. The Committee anticipates that inflation over the medium term will run at or below the rate that it judges most consistent with its dual mandate.
To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions–including low rates of resource utilization and a subdued outlook for inflation over the medium run–are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.
The Committee also decided to continue through the end of the year its program to extend the average maturity of its holdings of securities. Specifically, the Committee intends to purchase Treasury securities with remaining maturities of 6 years to 30 years at the current pace and to sell or redeem an equal amount of Treasury securities with remaining maturities of approximately 3 years or less. This continuation of the maturity extension program should put downward pressure on longer-term interest rates and help to make broader financial conditions more accommodative. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. The Committee is prepared to take further action as appropriate to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Dennis P. Lockhart; Sandra Pianalto; Jerome H. Powell; Sarah Bloom Raskin; Jeremy C. Stein; Daniel K. Tarullo; John C. Williams; and Janet L. Yellen. Voting against the action was Jeffrey M. Lacker, who opposed continuation of the maturity extension program.
Johnny
June 20, 2012 at 16:57Nice short but closed now and in no trade at the moment…
Will probably Long again when we get 2600 insight…(Around 2610 back up to 2730/2750/2800) My plan…
Jim
June 20, 2012 at 16:58I was under the impression this was an open forum yet now my comments are being censored…what gives????
Kay
June 20, 2012 at 17:00may b it contained prohibited words
sahara
June 20, 2012 at 17:03in wich language was it ??? if camels one yes we do it !!
Kay
June 20, 2012 at 17:12i dont know, :doc1 you may try repost it and if it is censored again drop a ticket with the Master
sahara
June 20, 2012 at 17:042736 !!
Jim
June 20, 2012 at 17:11Anyhow now I’m short at 2739 …..
sahara
June 20, 2012 at 17:12closed long 2665 !! 2650 running !! will let
sahara
June 20, 2012 at 17:13must hit 2763!!
sahara
June 20, 2012 at 17:17http://imageshack.us/photo/my-images/502/redno.png/
sahara
June 20, 2012 at 17:17Comment left on:
June 20, 2012 at 15:37
saharaview says:
http://imageshack.us/photo/my-images/138/markmy.png/
Jim
June 20, 2012 at 17:13This is all smoking mirrors…squeeze out the weak short hands before the real move JMHO
sahara
June 20, 2012 at 17:18yes !! a order buy 2625 hahahah!!
sahara
June 20, 2012 at 17:21till your short @doc ??
BeMOreWILD
June 20, 2012 at 17:23short or long?:)
sahara
June 20, 2012 at 17:28friend was long in low !! and sell from this morning (closed !! only one long from 2650 !! if buy better to entry lower!! or sell higher my idea
Johnny
June 20, 2012 at 17:26Long Bemore….target 2800 !
I have to go out and cant wait for Ben unfortunately…
TC & GL
sahara
June 20, 2012 at 17:29why did you close your short from this morning!! you let your friend alone !!!!!!! a cup !!
BeMOreWILD
June 20, 2012 at 17:29hahhahhaha cheers sahara:)
sahara
June 20, 2012 at 17:30friend !!!! but with @Mark a long is when area 2730 broken !! you asked i answer friendly
Harry
June 20, 2012 at 17:29Well I got stopped out by the spread widening to 12 pips!!
Kay
June 20, 2012 at 17:42what broker was that?
Harry
June 21, 2012 at 07:59svsfx.com
but I’m not complaining – they are usually very good
sahara
June 20, 2012 at 17:42http://imageshack.us/photo/my-images/27/fifs.png/
Jim
June 20, 2012 at 17:45Still short from 2739 but any move over 2710 and I’ll close and wait for another entry… may be until tomorrow before we see the real move
sahara
June 20, 2012 at 17:46grrrrrrrrrrr take it for a hammer this 15 !! it s a hm !!
Jim
June 20, 2012 at 17:46I miss the days when trading was between traders not computers….. arggghhh it gets exhausting
sahara
June 20, 2012 at 17:50am not so far from aeroport !! and all the day i saw delta and other plane to crossover sea!!
Jim
June 20, 2012 at 17:49pure contrarian based upon order flow unless the flow is so strong it upsets the fuzzy logic and causes the computer to download in it’s britches…….. :D
sahara
June 20, 2012 at 17:51a old fashion !! like old things !! (food or other !!!! harry quick now that s all
Jim
June 20, 2012 at 17:52I am thinking of abandoning Fx and go strictly to ETF’s……. much easier to hedge and the profit potential is much more attractive…. problem is I love trading fx :)
sahara
June 20, 2012 at 17:55and you will stay with us !!!
Kay
June 20, 2012 at 18:25fx could b addictive but also very profitable especially when u are not greedy
Jim
June 20, 2012 at 17:56Logic tells us that w/o QE where’s the catalyst….. an extension of OP Twist?????
Maybe Miracle Merkel’s statements???? but which side of her mouth is she talking from???
Wednesday, June 20, 2012 ⌚12:47 PM
GERMAN CHANCELLOR MERKEL: EFSF bond purchasing not being debated. “No concrete plans” on bond purchasing.
Wednesday, June 20, 2012 ⌚12:47 PM
GERMAN CHANCELLOR MERKEL: BOnd purchasing by bailout fund a possibility
sahara
June 20, 2012 at 17:56take it another “long !!!!!
Jim
June 20, 2012 at 17:58A little piece of the puzzle……. incentive to prop prices up until the close
Wednesday, June 20, 2012 ⌚13:50 PM
ATTN ON ROLLS: Rollover charges/credits will be 3x normal today across most pairs. SEK pairs will pay/charge 4x normal.
Jim
June 20, 2012 at 18:03Closed my short….
No momentum and from here it’s a coin toss again although I still believe longer term EU will decline….. After the Press Release from Big Ben I’ll be looking for another op to get short
sahara
June 20, 2012 at 18:05no qe3 ?? !! seems
sahara
June 20, 2012 at 18:06out long
sahara
June 20, 2012 at 18:08where 15 will close !! if below 2706 it means a littel down for me
sahara
June 20, 2012 at 18:16baybay all !!
Jim
June 20, 2012 at 18:53fwiw
The Fed started Operation Twist in September. Unlike with quantitative easing, the program doesn’t increase its balance sheet. Instead, the Fed sells short-term debt and uses the proceeds to buy longer-term bonds.
sahara
June 20, 2012 at 19:07back
Ben
June 20, 2012 at 19:09http://www.youtube.com/watch?v=G8UD-LA9Xgo
sahara
June 20, 2012 at 19:10hahah !! twist again!!!!
BeMoreWild
June 20, 2012 at 19:33LoLzzzz@Sahara:) check out the beauty,suspense and excitement of EU:)
Kay
June 20, 2012 at 19:33GN guys and congrats to maria for nice dips today:) I love your Tiger, they eat bulls and bears fresh:)
BeMoreWild
June 20, 2012 at 19:35Just as i was thinking of the Tigeres:)
sahara
June 20, 2012 at 19:402647 will open 2617
Jim
June 20, 2012 at 19:47As I said earlier…. crisis, response, disappointment, crisis
Interesting to note that Barroso in an earlier comment had blamed the economic recovery of the EU on the US and in the Press release Bernanke throws it right back with the ” US recovery is being hampered by the EU”
Also note that Bernanke emphatically stated that the FEDS would not be buying EU debt
Short again @ 2694 and holding as we are now entering the disappointment phase again JMHO
We may a big move tomorrow….
Jim
June 20, 2012 at 19:49Just waiting for the liquidity squeeze that’s almost inevitable sometime this year
sahara
June 20, 2012 at 19:51building a hammer in hour
sahara
June 20, 2012 at 20:19have a good night all see y tomorrow
Maria
June 20, 2012 at 20:41Good evening,
thank you for the support guys, I really appreciate it :)
However, the moves today were not large enough to make any real changes to my plan.
I closed one short for some 50 or so pips, added a pending order in it’s original place which was triggered shortly after.
The last 2 drops in the last couple hours got me all excited to start with but we pulled back and did not show any sign of trying to sustain a break under the 2660 area. This chop keeps the doors open to 280-285 for me so I’m re-adding all of my pending short orders again up to 285 to start with.
In non-euro news I have locked in 100 pips on a long term long USDJPY. Ultimately I’m looking for 89-90 until the end of the year, but I traditionally enter UJ long terms at least 4-5 times and get stopped out in small profit before I find the correct entry that sticks for couple of months.
Hope you all had a fantastic day.
Listening to http://youtu.be/5pidokakU4I
Johnny (from PocketPc)
June 21, 2012 at 03:04Early Bird is here again…
I just took a Short here @2670
Still looking to Buy from the wet lands down below (2605/10) and thinking we will see 2800+ soon.
Dont think 2550/60 will hold it….Lets see (Just my view!)
Back to sleep now…
Comment left on:
June 20, 2012 at 16:41
johnny says:
Read my comment above Kayus….I will prepare for buying the dip….This is not a sell the rally, thats outta time nowadays….
Looking for 2610 to buy again back to 2730 lets see….Busy with my business again in between…When they let me free… Grrrrr
sahara
June 21, 2012 at 05:29gm all
Zeeshan Anjum
June 21, 2012 at 05:41GM all. Green Pips..