Eurusd/gbpusd - page 1367
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Traders starting to price in the US government shutdown cost. This will not give reason for a QE taper
later week no. 6192, 6199 was signal buy------
stop out --6245 tp1 53p, tp2 46p
olso week no. 3515
(+-6-9p)enter 3521---buy
week no. eu----3529 was signal buy------stop out 3580 tp 51p
()later week no. 3529(+-6-9p)enter 3535 buy------3560 tp 25p, later 3535 was signal sell----- 
Weekly range from a last couple of weeks seems to be set already (the 110-120 pips ranges that were dominant in last weeks EURUSD ranges) and the price is now comfortably set right in the middle of that range. The usual "directionless" trading is here again
it will break down next wk, after an NFP selloff on the main Fx pairs (imo)
both Euro and especially the GBP far too overbought, and need a pullback
but personally won't short until the indicators confirm - waste of time otherwise
slightly off topic, but relatively interesting - Larry Levin email this morning on the debt debacle
Shutdown
Only the most devoted look on the bright side Pollyanna types really thought they would wake up this morning to find that Congress had figured things out. The divide is now so deep, they would argue over the color of the sky. The government has "shutdown" - so what in the heck does it mean for the market?
If the past is any guide, the Standard & Poor’s 500 Index has risen 11 percent on average in the 12 months following a government shutdown, according to data compiled by Bloomberg on the 12 instances since 1976. That compares with an average return of 9 percent over 12 months. In all the cases, the U.S. equity benchmark was higher by the end of the next two years.
If there is one day the Fed's trading desk actually did want futures lower, if only for purely optical purposes and to at least suggest that the government, and not the Fed, is still in charge of the US, it is the day when the US government - for the first time in 17 years - has shut down. They certainly did not want the S&P to be up nearly 0.5% mere hours after Congress and the presidency confirmed to the world that in a world in which "the Chairman gets to work", a functioning government is completely irrelevant. Yet this is precisely what is going on. Of course, most rational beings realize this can't be good for the market.
Here is Bank of America's take on the shutdown "The shutdown will likely add to the budget deficit. It is costly to stop and start programs. The 1995-96 shutdown directly added $1.4 bn to the deficit (about $2.5 bin in today’s dollars) Moreover, the shock to growth will undercut tax revenues. In addition, ironically it does not impact the implementation of Obamacare since it is an entitlement similar to Medicare. However, there is some chance it could delay US economic data releases: in 1996, the December employment report was delayed two weeks as a result of the shutdown then. The Federal Reserve and the Post Office, both of which do not depend on Congressional appropriations, will not see any cutbacks due to a shutdown."
All that reminds on a "mine is bigger" kid games. Somewhere in their guts they feel that nothing is right, and now they are inventing any possible blabbing matter just to justify their own (political) existence. They are simply laughing in our faces
EURUSD closed where it closed yesterday and where it close on Friday - no change at all. Talking about ranging
EURUSD closed where it closed yesterday and where it close on Friday - no change at all. Talking about ranging
The clash of two crisis
It is a tie for now
stop out --6245 tp1 53p, tp2 46p
later week no. 6199, 6192was signal sell--------6164 tp1 35p, tp2 28p, later week no. 6167 was signal buy------
stop out 3580 tp 51p
stop out 3509 tp 26p, later week no. 3509 , 3515, was
()signal buy-----