EURUSD....Euro

[Wealth Wizard]

Any one catch the USD/JPY?

 

[Kauri]

a good sized 14550-14950 DNT is being aggressively defended by an Asian mob currently... makes life interesting..
Cheers
.........Kauri

 

[Kauri]

looking for a good spot to add to my shorts... EUR 1Bln 1.4500 strikes, due to roll off at the NY cut-off at 14:00 GMT , may be a good spot if they attract . rebounds back into the 1.45"s are better levels to sell into.. the medium-term risk is skewed to the downside with many eyeing a fall back towards the 1.40 level should the Euro continue to struggle for traction.

Cheers
.........Kauri

 

[tayser]

Everyone's just dumping EUR...

 

[BentRod]

everyones dumping everything

 

[BentRod]

I favour a move down to 1.45 to form some sort of head and shoulder type formation. If it makes it to 1.45 then I can see 143.63 threatened which will change the main move of the year.

Thats just a guess. My stops are in place way up there with plenty of wiggle room- if it works it should pay off.

143.63 has been breached, Euro is now down for the year.

Next target is monthly support from 2002 @ 140ish.

 

[BentRod]

Starting to feel that trendline is going to hold

 

[Kauri]

Starting to feel that trendline is going to hold

China holds up to 400 BLN USD in Fannie Mae and Freddie Mac debt and CICC Chief Economist Ha Jiming said in a report Thursday "the crisis has made Chinese officials realize it"s a bad idea to put all their eggs in one basket," before adding "this will likely lead to greater diversification of foreign exchange reserve investments." The CICC report said that China is likely to reduce the portion of reserves in dollar assets from the current 60 percent by purchasing more non-dollar assets with new reserves...

Cheers
...........Kauri

 

[Kauri]

EUR/USD opened New York around 1.4130, traded a vicious 1.4088/ 1.4230/ 1.4160/ 1.4225/ 1.4165 whipsaw, then flat-lined around 1.4175/
1.4215 for hours until the last two hours of trading, then took off like a
rocket. Conventional wisdom would normally suggest US equities recouped and EUR/JPY took off but no, this was a general USD bail out. USD/JPY collapsed, and it seems that Asian accounts are scrambling out of all long USD positions ahead of the Tokyo open.?? EUR/USD hit 1.4320 around where it closed with US equities at session lows, the Dow -4.41%. Rumours of a 50bp Fed rate cut gathering credence.
The short squeeze on EUR/USD lasted into the New York market close and then as dramatically about faced; with the more logical subsequent drop in EUR/JPY coming after US equity markets closed at their lows. EUR/JPY up until 4.00PM held steady, the 150.20 close benign, however subsequent action has seen both the EUR/USD and EUR/JPY collapse. News that the Fed have asked JPM and Goldman to lead a $70-75bn liquidity facility for AIG"s assets failed to help. Traders are shell shocked and very nervous about ensuing Japanese equity trading.

Cheers
............Kauri

 

[CanOz]

Kauri, are you watching the BBand squeeze on the EURUSD? Maybe 1.42 won't hold for long?

Cheers,


CanOz

 

[Kauri]

Kauri, are you watching the BBand squeeze on the EURUSD? Maybe 1.42 won't hold for long?

Cheers,


CanOz

Cannie,
missed that one... one of my kaleidescope vindicators is actually based on a Boll squeeze.. ... Talk of Dollar buy orders doing the rounds, with funding being shipped back to good hole USofA to fund the holes appearing in balance sheets. EUR/USD has fallen into the 1.41"s amid the return of the Dollar bid-tone, with standing support into the 1.4180"s initially attempting to limit the decline.

Cheers
............Kauri

 

[CanOz]

Cannie,
missed that one... one of my kaleidescope vindicators is actually based on a Boll squeeze.. ... Talk of Dollar buy orders doing the rounds, with funding being shipped back to good hole USofA to fund the holes appearing in balance sheets. EUR/USD has fallen into the 1.41"s amid the return of the Dollar bid-tone, with standing support into the 1.4180"s initially attempting to limit the decline.

Cheers
............Kauri

1.4180 was were i got in yesterday with a stop below the low at 1.405 ish.

You think the USFed will cut tonight?

CanOz

 

[Kauri]

1.4180 was were i got in yesterday with a stop below the low at 1.405 ish.

You think the USFed will cut tonight?

CanOz

When the Fed move I don't think ... opinion only.. that 1/4 will be enough.. the rumours out there are flying tick and fast... AIG is the biggun that everyone seems for some reason tinks makes no differce... for me it is the potential elephant...
London dealers talk of reserve manager support for the Euro emerging as EUR/USD was sold into the 1.4160"s. This helped base the latest dip into 1.4164 but further stabs at the downside cannot be ruled out in the near-term, as the Dollar is likely to remain in demand into early North American trading. Look for support to trail into 1.4150, with more support seen layered into the low- 1.41"s.

I'm out of everyting currently... I have a feeling the good hole USofA is going to pull another rabbitt out of its pawned hat..

Cheers
...........Kauri

 

[CanOz]

Thanks Kauri. Lots of talk now about a 50 basis point cut...i 'don't think i'll be awake for it anyway.

Anyway the Euro's bounced nicely off the TL.

Cheers,


CanOz

 

[Kauri]

Thanks Kauri. Lots of talk now about a 50 basis point cut...i 'don't think i'll be awake for it anyway.

Anyway the Euro's bounced nicely off the TL.

Cheers,


CanOz

spurious talk has turned back to the potential for a 50bps move from the Fed. Elsewhere, US stock market futures have hit session lows amid fresh talk of M&A in the US banking sector. Should EUR/USD snap higher then the 1.43"s may loom with the overnight highs into 1.4320/25 then coming back onto the radar.

and for UBS.. (read EU banking??) UBS shares are now down 20%, with the latest Goldman report accelerating the fall. The embattled Swiss name is yet to announce the latest write-downs that the market is rife with speculation of, so some degree of a bounce could loom for the banking giant.


cheers and have a good nite
.............SteveH

 

[CanOz]

Getting a spike on the EUR now.....its about time.

 

[theasxgorilla]

Getting a spike on the EUR now.....its about time.

Yep, up against most already...up a lot against the AUD.

 

[Kauri]

The EUR/USD has fallen to as low as 1.4530 after US lawmakers finally agreed to a bailout plan that could be voted upon as early as later today. The USD has moved broadly higher as a result of the agreement by US lawmakers after a week of haggling over various issues related to the plan weighed on the greenback. The news coincides with weekend reports saying that European authorities were desperately trying to rescue Fortis Bank by arranging a takeover, break up or nationalization of the Dutch/Belgium banking giant.
The two bits of breaking news illuminates to the market that financial institution distress is not a US-only dilemma and there is a perception that the US has more tools at their disposal to deal with the problems than the current European framework can offer.

Cheers
..........Kauri

PS....
Reuters has reported that the crisis talks held this weekend regarding the fate of troubled Fortis Bank has resulted in the Dutch government buying a 49% stake in Fortis Holdings Netherlands, the Luxembourg government buying a 49% stake in Fortis Banque Luxembourg and the Belgium government buying a 49% stake in Fortis.

 

[Kauri]

and now one of those funny little short an coily things may be developing??

Cheers
............Kauri

 

[Kauri]

and now one of those funny little short an coily things may be developing??

Cheers
............Kauri

just love them short an coilys... they nearly always point to an interesting outcome..

Cheers
..............kauri

According to the Belgian FinMin, Didier Reynders, there are several potential purchasers for ABN AMRO. Talking to Belgian radio the FinMin notes he wants the ABN AMRO sale to take place "as soon as possible". also report that ING is to buy the Dutch assets of ABN owned by Fortis. . .