EUR

2 rare trading opportunities as a consequence of downgrade of UK gilts
GBP long
CHF long
while CHF is already getting much stronger, GBP trades require patience and experience.

Germany's backbone of economy is collapsing at a fast rate.
In the typical small biz belt around big cities "for sale" signs pop up everywhere. The univocally Merkel-dedicated media report
the facts 100, 400, 3000 jobs lost ...but blame the entrepreneurs
for misconcepts etc. never the simple fact that the real available income is rapidly dwindling. Except the income of Schauble's clientel the 1.7 million extremely well paid officials.

good article what is really going on in Italy
http://www.ft.com/intl/cms/s/0/1820324c-7d0b-11e2-8bd7-00144feabdc0.html

Italian law blocks polls two weeks before an election ( not a bad idea imho) so its all speculation. But Europe's leaders seemingly all count on Bersani with Berlusconi far off. I know our Italian neighbours quite well and I expect a much closer voting even with pirate party comedian Beppo getting 5%. The old
dolce vita clichee sticks but is not longer true. Berlusconi still has the media power and widely underestimated there are hundreds very popular private local radio stations more on the side of the anti austerity unions.

as a matter of interest the EU been to 78.6% ret today (3150) of the swing up from 2996 low to 3710 high. I think the daily H&S is in play, target c.3028

Equally I would expect the eur to spike north if a suitable Italian government without Berlusconi can be formed.