The European Central Bank (ECB) reported during today's London trading session that it will provide €529.5bn in 1,092-day loans to 800 banks. As I mentioned to the live class at FX Bootcamp moments after the so-called LTRO 2 announcement, the notable number here was not the 529, it was the 800. The LTRO 2 participation rate was 53 percent higher than the 523 banks who tapped LTRO 1 in December. That suggests lower…

Hi Folks

Finally looking like some decent pullbacks are underway. Going to be sticking with my USD bearish sentiment, therefore continue to build plans to long the Euro, Pound Aussie, short Swissy etc. 

There is some Aussie and Chinese new to digest also. Looking forward to a great session.…

Those in the live NY  training room got this trade setup today +80 pips 

A picture is worth a thousand words

Currently we are @ 1.5938 after breaking the top @ 1.5938.   Expect a move to the resistance @ 1.6004 and then a break to the 1.618 fib Extension @ 1.6073. A break down here targets the return to the R6 support @ 1.5847.  We remain bullish on the cross.…

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Gold and silver changed direction and rose yesterday: silver, even more than gold, sharply increased by 4.5% and thus it completed an 8.4% rally in the past five business days. Will this silver rally continue? ECB will announce today the second LTRO, this might affect the precious metals via the Forex. Today there are several reports and news items worth mentioning including: the KOF Economic Barometer report, the Euro Area Annual Inflation, the Second U.S GDP 4Q 2011 Estimate the China…

Euro move above 1.3400 seem to be early sign for 1.3620 (weekly resistance) test. In H4 chart we may test 1,3430/1.3400 support before breaking higher, In down side break of 1.3400 and later 1.3350 is needed for 1,3250 support test ( daily support ). Be cautious  about buying Euro in high levels cause of  sharp sell off.

Good luck

Euro dollar is on high ground on this highly important day on a special date. The second LTRO of the ECB is in the limelight: European banks will get more cash, and there’s a lot of uncertainty about the size and market reaction. “Selling the fact” seems the best option. Will Greece be let go after banks are better equipped? Later, revised US GDP and more importantly, a testimony by…

EURUSD Daily Outlook 29 Feb 2012

The EURO continued its bullish move yesterday ,bottomed at 1.3365 broke above 1.3465 after testing 1.3390 couple of times as expected before..

According to daily, yesterday we had a clear break above 1.3377 ( high &…

LTRO announcement will be the big even of the day and there are lot of guess work, talk and analysis about the number and possible impact on the market. The December LTRO tranche did work well in the sense that it gave some sort of stability to European banking system that helped in stabilizing the bond market to a certain extent, though Portugal and Greece CDS are still record high.   

There is lot of pressure from G-30 to put extra funds in IMF kitty and…

Tomorrow is a leap day which brings what is arguably the feature news event of the week. At around 1015 GMT, the European Central Bank (ECB) is expected to publish the results of its second long-term refinancing operation (LTRO).

According to a Reuters poll of 30 euro money market traders conducted on Monday, the consensus expectation is an allotment of €500 billion, with forecasts ranging from €200bn to €750bn.

On December 21, in its inaugural 3-year LTRO, the ECB allotted to…

The euro remained range-bound against the dollar through the early part of today's New York morning session. The Irish prime minister announced that the Emerald Isle will hold a referendum on the European Union fiscal compact, and the media reported that hedge fund manager John Paulson foresees a possible euro breakup. Both reports stirred the EUR/USD currency pair, which fell more than 40 pips after the US equity market open, then recouped its losses during an 80-pip rally.



As…

Two interesting links showing US and EU debt in a different, but clear,  way.

What a big amount.

http://demonocracy.info/infographics/usa/us_deficit/us_deficit.html

http://demonocracy.info/infographics/eu/debt_piigs/debt_piigs.html

(c)demon-ocracy

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Currently we are @ 0.9964 after the breakdown and then bounce on the S5 @ 0.9942.   Expect a return to the S5 and then a break down to the  0.9900. A break down here targets the support @ 0.9884.  We remain bearish on the cross.…

Gold and silver slightly fell on Friday after they have risen very precipitately during most of the week. There are several updates regarding the Greek debt crisis including the German vote, ECB lending policy and more. Bloomberg reports gold holdings in Exchange Traded Products increased for the fifth consecutive day to a record high. Today, the U.S Core…

Euro dollar remains on high ground and is trading in a narrower range. S&P downgraded Greece to “Selective Default” and hinted that if the bond swap won’t go as planned, an outright default is on the cards. Tension is mounting towards the ECB’s LTRO. Today we have quite a few US figures.

Here’s an update on technicals, fundamentals and what’s going on in the…

Following the sharp gains for gold and silver during January when gold price rose by 11% and silver by 19.15%, the situation in February was much different. Gold increased by only 2.07% from the end of January; silver has added 6.49% to its value. What were the events and decisions that may have affected the direction of gold and silver during February? Part of it might have to do with the recent decision of the…