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Goldman Update On EURUSD - Adding To Shorts With 1.2457 Target Once Support Taken Out
Goldman is now officially killing the euro.
The Eur collapse continues and what has until now be an orderly and persistent move is threatening to become erratic and disorderly ; panic is starting to set in. Today we have the ecb press conference and the market will be focused on every word of Trichet's address. We have seen mainly buying interest this morning as people do the prudent thing and take some profit in case Trichet is able to pull a rabbit out of his hat. But I am at a loss to think what he can really deliver that will assuage the markets growing concerns. I think there is a real likelihood that the market will again be disappointed and the euro will accelerate lower once he stops talking. We may be entering a new more violent phase of the sell off with bigger whips in both directions but with more risk still to the downside. We are sticking with a core short position and will look to add quickly should Trichet offer nothing new or on a bounce back to 1.2860-70 (unless a genuine rabbit is forthcoming) and roll down our stop to 1.30. Technicians have important support at 1.2740 and a close below this level should open a test of last years 1.2457 low.
Good luck
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Soon I again get my Deutsche Mark... :)
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Then it was quiet again. My attorney had taken his shirt off and was pouring beer on his chest, to facilitate the tanning process. “What the hell are you yelling about?” he muttered, staring up at the sun with his eyes closed and covered with wraparound Spanish sunglasses. “Never mind,” I said. “It’s your turn to drive.” I hit the brakes and aimed the Great Red Shark toward the shoulder of the highway. No point mentioning those bats, I thought. The poor bastard will see them soon enough.
Great! Great! Great! +10000. It says it all! Now if I could just learn to trade while on extract of pineal gland...
The proprietary indicators I use can identify trend changes before they occur and they have been warning of a USD rally since last year.
Just posted a new EURUSD chart: showing long term trendline with important support around 1.2770
http://www.zerohedge.com/forum/latest-market-outlook-0
1.2697
phhhhhhtttt I'm covering my shorts around 1.25 ~ 1.26. Not gonna let these golden ballsack assholes steal from me.
They better hurry and shift to Brazil, they just raised interest rates .75 percent a bit ago. Of course, when that carry trade unwinds, it will be shocking.
But perhaps the upcoming probable 1.0% rate hike in addition might sweeten things....nah...just bring in more suckers before the fall.
But, but, Banco Santander is so healthy...rofl.
Spain/U.K./Brazil- after greece, or alongside it, that's when the show really begins. Without the Brazil carry trade, the inter-alpha banks would already be finished.
It's not looking good for 2012 Rio games. I wonder if it will be moved? Cancelled?
You saw the housing bubble we had. How about 50 percent rise in housing prices YOY AND currency appreciation at the same time.
When that busts, 2012 games are in danger. Remember all the security talk about visitors for the 2012 games, well, when this busts you can all but assure that the area will not be secure.
How in the world can the Inter-Alpha group of banks be absolutely raping Brazil (who continues to raise interest rates aiding Inter-alpha) and yet everything is falling off the map? Because the black hole that is beneath us all is massive and is only getting bigger. Imagine the losses WITHOUT this raping.
I wonder where the Euro falls to when this carry trade unwinds and bankrupts the Inter-Alpha group. Things have to come as they come, but they're a coming. When this comes, the dollar will be stronger than the Euro. At least until someone wakes up Bernanke.
Good luck
Recent experience with Goldman recommendations suggests that a bounce to ~1.30 is imminent. I think we get another Miracle Monday and then head for 1.10.
Of course, it's possible that they are now gelded by the criminal investigation, but if so, why put this out at all? I mean, where's the percentage? That's all that ever matters to them.