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yeah velocity is key to any trend move, I agree with ya
so are you looking to get out near 1.50 range then?
looks like a nice looking gartley has formed on her on the 4 hour as well
well i just joined as well on that GU short
nah I just took a nice sabaticle for the 4th lol
yeah EU is dang near ready to ride a bull down I mean a bear lol
Morning sir, had a nice long vacation just at home for the 4th. Nice being around family and friends
Well I hope everyone survived the 4th. Now it's time for me to get back into the action.
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Additional Information
I knew you were a gangster lol
well glad you got it fixed. I need to change out my front two axles. My rims have worn them out in 5 years time already. Why pay somebody to do the work when we can do it our selves.
G-20 Fears Send Euro, Cable, Aussie Down
Top Stories
* All eyes on G-20 and possible regulatory proposals
* Japanese deflation persists
* Asian stocks fall sharplu -1.92% for Nikkei, Europe stages mild recovery at .49%
* Oil at $76.44/bbl
* Gold at $1245/oz.
Overnight Eco
* JPY Tokyo Core CPI -1.3% vs. -1.5%
* JPY National Core CPI -1.2% vs. -1.3%
* NZD Trade Balance 814M vs. 845M
Event Risk on Tap
* USD Final GDP expected at 3.0%
* USD Final GDP Price Index expected at 1.0%
* USD Revised UoM Consumer Sentiment expected at 75.5
* USD Revised UoM Inflation Expectations
Price Action
* USD/JPY trades at 90.50 in Asia but ticks up to 90.70 as European stock improve
* AUD/USD tumbles to .8605 but recovers to .8640 in Europe
* GBP/USD very weak all night long as selloff takes it to 1.4900
* EUR/USD recovery rally capped at 1.2350 for now
A very choppy night of trade in the currency market with risk FX coming under pressure ahead of the G-20 meeting this weekend as traders warily eyed the possibility of more financial regulation from fiscal authorities. The G-20 meeting in Toronto will likely be marked by greater discord than at any time since the start of the financial crisis of 2008 as members disagree on the extent of additional regulatory oversight necessary for the banking sector.
Today’s Financial Times reports that the Basel committee may soften the proposed regulations on capital and liquidity and may opt for structure of using a local regulatory framework rather than creating universal policies. Although the news could relieve some of the concern of the capital markets, traders remained nervous and both equities and high beta currencies were broadly lower in midmorning European trade.
The EUR/USD tumbled to 1.2264 after failing to hold 1.2350 in late Asian session, while cable gave up the 1.4900 figure after meeting stiff resistance at 1.5000 over the past 24 hours. One other key issue for debate at G-20 will be the different approaches of UK and US fiscal authorities towards economic growth. US officials have stressed the need to maintain the stimulus in order to ensure momentum going forward, while the new UK government of conservative David Cameron has chosen to implement austerity measures to curtail record deficit spending.
At first glance the markets have responded positively to Mr. Cameron’s approach rallying the pound to fresh multi week highs, but as we warned yesterday the combination of tighter fiscal policy and a more hawkish posture from the BoE threatens to tip the fragile UK recovery back into a recession especially if global capital markets continue to decline into the second half of the year.
For now it is difficult to determine whether the UK or the US approach will prove more successful in maintaining economic growth, but as we survey the latest macro data one thing is certain. Absent government stimulus, consumer demand in G-3 economies remains extremely weak and will likely weigh on GDP growth going forward.
Today’s North America calendar carries only revisions for old data with US GDP expected to print at 3.0% while U of M to remain unrevised at 75.5. The focus however will be on equity flows and if stock investors decide to trim their longs ahead of the G-20 risk FX could see further selling as the day progresses.
FX Upcoming
Currency GMT EST Release Expected Prior
USD 13:30 9:30 Final GDP 3.0% 3.0%
USD 13:30 9:30 Final GDP Price Index 1.0% 1.0%
USD 14:55 10:55 Revised UoM Consumer Sentiment 1.0% 75.5
USD 14:55 10:55 Revised UoM Inflation Expectations 75.5 2.7%
EUR/AUD Rally Running Out of Steam
An emerging bearish Gartley pattern points to an opportunity to short the EUR/AUD at 1.4275. This bearish setup reflects the convergence of the 78.6% XA fib retracement, and 161.8% ABCD extension with near perfect convergence. The anticipated target of 1.4113 sits just above 61.8% of the projected CD leg, and stop-loss will be set at 1.4335 just above 88% of XA (also just above previous top prior to point X). More aggressive traders may note that prices are currently testing initial pattern completion/resistance near 1.4220 based on 61.8% XA, 161.8% BC and 127.2% ABCD convergence. A move below point C at 1.40 will invalidate pending trade parameters.
Potential Strategy: Sell if prices rally to 1.4275 risking 1.4335 targeting 1.4113.
Yeah but I guess we will never know for now
lololololol
LOLOLOLOLOLOLOL
LOLOLOL
yeah I forgot about that. Texas would rule the Big 10 for sure
yeah she got me lol
yeah I agree, can't argue when the gartley pops it's head up on the big charts.
hey I thought us southerners are suppose to stick together lol
yeah can't argue there. he is a hall of fame coach for sure
lolololol I guess it's way too early in the morning
lololol we're just having some good ole fashion sports trash talk
don't make me shun you for a week lololol j/k
booooooooooooooooooooooooooooooooooooooooooooooooooooo to the Sparty's, they put us out of the tournament this year.
FX360
Sell GBP/USD at 1.5032. Stop at 1.5182. Profit target at 1.4806.
sorry to hear about your wife. I got hit by a stolen car when I was in the fifth grade and it broke my foot as well. doesn't feel good.
how did I get hit by a stolen car. I snuck out of the house and was riding a mopad with my friend driving and he runs a stop sign like an idiot
great looking chart. I agree with ya
that's interesting, thanks for the info
When you have Tennessee in the top 15 and not Indianna in the top 40 then the world must be coming to an end soon. UT is one of the worst teams in BBALL hystory lol. I remember seeing them go 1-5 wins a season growing up lolol
My how the mighty have fallen. I guess they shouldn't of ran their crazy old coach out of their after all. Can't believe I forgot his name. The one who cussed out everyone he could find and the one who threw a chair across the court lololol
Bobby Knight lololol
good lord they are taking that too far. If the NFL messed with Montana the fans would turn on Goodell. If Joe wants to sell schetchers then so be it. Still doesn't take away from all the great memories he gave us watching his 49's stomp people lol
Vitale: Early preseason top 40 for college BBALL
http://sports.espn.go.com/espn/dickvitale/news/story?id=5292918
hope all is good with ya, never heard of one up there
WOW have you guys ever had an earthquake up there
it sure does
I bet whoever was controlling that robot pooped his pants when he ran into it
good lord it is just gushing out right now. I just saw on channel 5 news where BP was ordered to remove some kind of cap making oil spill out even more
here is the article. google internment cop and see what you pull up. one guy did a youtube video on it. he was going off.
http://www.wnd.com/?pageId=106304
BP Oil Spill solution