Update further - today’s announcement gave Eur/Usd a boost, so too European stocks reacted positively.
Monies to affected countries will be in the form of grants not loans - long way to go yet for final agreement but likely will happen in the next few months.
All positive news.
Perhaps von der lyon should consult the German Constitutional Court - before making such announcements ? If Germany’s Central Bank is not going to contribute to this “Baleout” - I wonder where she proposes to get the money from ? Eu2 trillion - I believe she has said ?
It seems some others are a little less than completely convinced too !
I’m surprised you missed this one ;
And those speculating on the up-side for the Euro perhaps should be aware of some others too - Unless of course the rise is a sgn of a Wyckoffian ‘Distribution’ ?
Even the Normally blinkered Guardian has acknowledged the problems !
Lol - is that the same Soros who has been calling the ‘collapse’ of the EU since it started?
Doesn’t matter what guys predict or what they think or whatever their bias - it’s what the market thinks that counts - right now I wouldn’t be very keen on selling EG
Maybe those guys are right and it will all end in tears - but that’s wishful thinking on some guys part - wishful thinking and trading are not good bedfellows.
As mentioned earlier - good traders buy the facts and disregard silly propaganda -
This is Eur/Usd since the Franco/German statement yesterday:
Are there possible pit falls ahead? - Of course there is, that’s trading 
Charts with no scale are pretty meaningless really - especially when the candles LOOK so stretched in the Vertical axis as that one does !
Perhaps a little perspective might be helpful to those who might be impressed ? That action is from a very low base !
Clearly it is approaching a short term resistance (existing double top) which often acts as a magnet for those wanting a quick few pips or contemplating a short entry
However you say ;
What “statement yesterday” exactly ? We note the deafening silence from the Netherlands and also that the German Central Bank (who have a track history of reneging on “Deals” ) are silent - whilst the German Constitutional Court is still diametrically opposed to Germany’s Constitution being “over-ruled” by Politicians - Interesting times ahead on that particular aspect - which could indeed have HUGE impact on all the other Countries with respect to their own National Sovereignties !
To say nothing of course on the impact of those 10,000 within 2 miles of the EU headquarters who are paid in excess of £100,000 a year - which is a minimum £1 Billion wage bill - not counting all those underlings also on “the Gravy train” all of whose actual value to the citizens actually paying those benefits seems to have been brought into question by the EU’s total impotence in the face of a Real Problem !
Unfortunately, this is not the first time the EU has been powerless. Alas, as practice shows, many problems simply perplex them.
Ok - for guys into buy/sell rumours - Friday past there were rumours of agreement between France and Germany - only 2 out of 27 but there you go.
Chart is Friday, yesterday and right now (see how price has extended yet another 25 pips since I posted this morning)
Anyways - long story short from the rumours on Friday until now was worth 190 pips - but the real action happened on the fact.
Will price fall back? - of course - that’s how it is.
Take care you guys
Lol… price has fallen back in the 2 hrs since I posted - then it was 1.0974 - now 1.0937
That’s the TA part - first was the FA, now the TA - a perfect market.
(the TA part - 1.0974 … happens to be the 100 ma daily - price stalled there last time…let’s see what happens.)
Thoughts of eurusd’s long term prospects after Germany’s recession news?
There are 27 counties currently in the ‘EU’ - what has Germany got to do with itt ?
The economic woes or prosperity of one country in the EU are often felt by surrounding countries. Some say Germany’s economic prosperity helps Europe as a whole, some believe the opposite. So Germany’s economic hardships would then also be felt by other members. I’m wondering what other’s think about that.
Gemany does NOT equal the ‘EU’ - who knows what does - but revitalising old garbage is not helpful.
You wanna bet 'Germay v US Dollar '- g0 for it ! - BUT do NOT assume ‘EU = Europe’ - It does NOT !
The market views this thinking as correct in respect of the German economy - the nearest in size is France at 40% lower (Germany the largest)
(UK used to be second largest in EU)
Third in size is Italy. Germany is industrial, so too Northern Italy. Economic news from Germany usually has an effect on the Euro.
Edit: btw most bars and restaurants are now open in Berlin.
For guys learning Eur/Usd is now back to where falstaff pointed out on the daily - only now it’s a triple top.
Some guys are doubtful that the remaining 25 countries will agree to the Franco/German proposal - others adopt a ‘wait and see’ approach (usually the best way in EU affairs).
So there seems to be a possible break to the upside in the making - ultimately the strength of any move will now rely on those 25 leaders.
Price 1.0984
Yes there is a nice resistance at around 1.100 and a nice support at 1.080 - which leaves a comfy little 200 pip 'sandpit" for teh boys to play in until they decide to “Move it” at some future point.
However there is some minor dissent within the EU itself
Germany has already ruled in it’s Supreme Court that It’s Politicians do NOT Have the power to over-rule the German Constitution and Macron is Haemorraging voters and 10 of his own Politicins have deserted his Party so he has no majority in his own Parliament and There are rioters in the “Muslim no-go areas of Paris” (Did you know there are Areas of Paris where the police dare not Go ? and of course the Yellow vests are back in force now “Lockdown” is eased ! Frexit is back on the cards and the Netherlands, Austria, Sweden, Finland are amongst those who reject these “Proposals” - which have NEVER actually been “Proposed” at all !
[His enthusiasm over the “Grooming report” will be damped once he sees the actual Wording of what she said ]
Hmmm… wonder was there ever a time that there was no dissent.
The current ‘frugal four’ have come up with an alternative proposal - well actually an amendment to the existing proposal - the issue as they see it is that Spain and Italy will be larger beneficiaries of the new fund but already carrying larger national debt.
Hence the 4 want stricter conditions attached.
It’s the EU Commission that actually draw up whatever gets agreed, has to be in place around mid October - lots of pressure being applied.
Maybe the plan will fail, and then again maybe not.
The German court thing - will post later sometime on that - it’s not such a huge problem that some UK press are making it out to be for whatever reason.
Btw guys reading - the image above is from the UK’s Daily Express, - meantime watch that triple top
So one week later there remains a perfect market - price has retraced of that move
to the market’s preferred fib - 50% (not really a fib but there you go, ignore at peril)So what next? … it’s the weekend, talking heads will abound, if they follow the script then onward and upward
Btw - why would price move back, if the FA is so bullish how come price would retrace?
See that hr1 move up, the big candle, it went thru a level -1.0880 - shouldn’t have done that - what happened to the sells there? - did they get pulled on the news.
What about the buys - did they all get filled - are there still buys sitting there, will they work price back to accommodate those, has the FA changed when price gets there?.
Type of thinking that fills my head when I see price
Edit: the fib chart looks fancy - much simpler to just look at half the big candle last Friday - that’s where price is this Friday.
Where else would you expect them to leave it on a Friday night ? Slap in the middle of the sandpit - of course !
Interesting that Both of those trend changes - started at (as far as I cantell from your charts 8am London Open ! - I would normally expect one of them to start at New York time - maybe we’ll see that next week (Have to keep the Punters Guessing )
Lol - Mondays are always Frankfurt time kick off - those Europeans always have a head (hour) start on us.
The Yanks are still sound asleep Monday morning, all they will want to do is buy the S&P when they waken - after they shrug the futures of course.
Happy trading
As well as the muslims and the yellow vests rioting in France and his populrity so low that he is having to move towards “More sovereignty for France” - none of which you will know about because the “unbiased” Left wing media think it would not be in your best interests to know - You will not know about the demonstrations in Spain etc
Here’s a little more which the so-called “Agreemwnt” we have heard about in the posts before the thread got diverted ;
