EUR

good to go long if 4270/80 seen for 4450.... gl/gt

After the expected rate hike EUR was sold off across the board. Very reasonable market reaction. The however Trichet came up with a new invention: ignore credit rating! That means
despite junk Portugal bonds will still be accepted as collateral. This reminds vividly of those once famous comics where some duck threw all bills into the fire .... It cannot get more dangerous because ignoring downgrade doesn't change the debt default risk of Portugal.
So now more vigilant participants ask hey why had the EU never their own rating agencies?
Why not now?

EUR/USD remains bearish

The Euro gained ground against its American counterpart on Thursday after dipping into the 1.4220 area (a fresh 8 day low) then recovering those losses to close the session at 1.4362, 45 pips above its starting price.

At present, the cross is quoted in the 1.4360 price zone, in virtually the same place it opened the Asian trade.

Despite this bullish recovery, technically speaking, the 4XEagleEye Analysis Team remains bearish: We believe that possible bearishness could be seen during this trading session. Immediate resistance is at (1.4557). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.

Source: http:/www.Fxcc.com

any1 looking to short @ 14400-10 level lol...i covered my oil shorts but looking to step in @todays highs..99.40s..still holdn todays $cad trading@ b/e..hey ignore am i correct to say that 55sma falls right sround the 50% +78.6% off the last 2downswings..on the 4hr chart?just started to look @ the eur chart and few things suggest conjestion around there..ok thanks gl :)

to find a german cat help you on raaats...^-^