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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Mar 23, 2010 8:24 AM Flag

    EUR/USD breakdown?

    Today is a very dangerous day.

    The EUR/USD split is pressing upon its 10 to 11 month low. I think its been way more important than healtcare becaues healthcare was priced in. I think the EUR/USD split has pretty much been dictating the show.

    If the EUR/USD looks to have a print of lower than 1.347 on a 15 min chart for at least 3 or 4 candles, I think the EUR breaks down, the dollar starts to rise and all commodities take it in the chin.

    I would recommend hedging your positions through this period, and once the direction is determined, take off the long commodity or PM positions for the downward ride in the event the EURO does head down.

    I think we'll have an answer between 9:30 am to 10:30 am, that's what the chart is saying.

    Yesterday, I went entirely to cash in all trading accounts and did not chase the short positions I wanted to get into believing today I would get a better shot.

    Good luck

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    • Chemas

      Is the Eoro support at 1.32? And if so how strong is it?

      Germans wouldn't be happy bailing out the Greeks as they work so much harder than them.

      HUI at 400 may well break today.


    • I find the macroeconomics over in europe fascinating.

      As the Euro heads down, their export business booms but their importers are taking a beating. Any glacial move in the currecny one way or the other can be absorbed by the market, but these moves are huge and they should have many screaming bloody murder.

      I don't expect Germany to take on the debts of the poorly governed countries, but you expect the union to do something as a unit and quickly. They haven't. The lack of speed at delivering a solution suggests a lack of cohesion in the union and trouble for them as a whole IMHO.

      I'm curious about WMJ's and News's opinion on this.


      Currency is all relative. Iceland, Greece, Spain and now Portugal is stepping into the headlines - all putting pressure on Euro.
      Japan is another real biggie that has been on thin ice for nearly two decades. If concern about it defaulting starts hitting the news it's time to pick a color and put all your chips on the table.

    • We will break mirco support to 1.34. The most important focus is the German Business Climate Index. If the reading is high then that will be a plus for the EUR. The reading is expected to be 96. I expect it to come in under that... and if so, Germany will pressure France to team in getting the IMF to play a larger than expected part in a Greek bailout.

    • Chemas,

      I would appreciate an update on your views expressed on the EUR/USD split


    • Thanks for the insight. I have been afraid to swing trade for a month now because the Euro is messing with my charts. Nothing is moving right relative to each other. Sitting on cash and physical.

    • Yesterday was supposed to be a down day for miners and it was relatively mild. The dollar has been improving and gold has only backed off slightly. Today's existing home sales number is already being discounted by "snow"--as if snow had anything to do with worldwide wholesale real estate fraud unresolved. What will be next 1/4's excuse for housing?

      How can there be a non real estate jobless recovery in effect--where's the money filling this bubble coming from--insitutions playing with each other??

      Is the end of quarter window dressing carrying the day into end of next week?

      Looks like you want to wait till April before jumping in in my mumblin opinion. Greece, healthcare diversions are like rearranging the deck chairs on the Titanic. The real showstoppers are not touted outloud, like a king shedding clothes until someone asks why is the king naked.

      Who will holler stop when the music halts and everyone races for a chair? When?

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