Monthly Archives: May 2012
No Solid Euro Demand Below 1.25
I’ve been waiting months for EURUSD to hit 1.25, and we’re almost there. With the current tone and Germanys stubbornness on the issue of Euro Bonds it is seemingly likely the 1.25 floor will cave in. Upon closer examination of the charts and supply/demand levels, I can honestly say I do not see one single area of demand I would feel comfortable with. Demand has either been partially used up in most cases, or non existent.
Pictured above is our most recent minor demand level failure. Pictured below is the only current level of demand i would consider in play.
51% Of You Are Idiots
51% Predict U.S. Government Will Go Bankrupt Before Budget Is Balanced
How this ill logic prevails is beyond me.
The Federal government is the sole, legal issuer of the U.S. Dollar. Contrary to popular belief the Federal government doesn’t borrow money. After all, they are the sole issuer of currency. Why anyone thinks that the only legal entity to issue currency can somehow run out of the ability to issue currency is, well, flat out retarded.
Comments »Euro… Where It’s Going.
It’s good to be back with a new blog post. I’ve been absent from blogging for quite some time now. Mostly because I’ve been consumed by the Euro drama, feverishly checking the news at all hours of the day and night. I haven’t made a FX trade at all this year to be honest. Everything has been in some sort of slow motion as if the world is waiting for the EU to right their ship.
I’ve been watching for a bounce to come off of a weekly V shaped bottom. I think i’ll be waiting a while. While I wasn’t crazy about the idea of playing this V bottom, I’ve been so bored with not trading that I was looking for any excuse just to trade. At the end of the day today, I see no reason to buy here.
In the near term I believe we’re looking to 1.25 for a possible bounce. Should 1.25 fail we’re probably headed for this 2002 double top at dare I say… Parity.
