CIT on the verge of bankruptcy

CIT may need as much as $6 billion to avoid filing for bankruptcy protection after the U.S. wouldn’t give the firm a second bailout, according to CreditSights Inc. A failure of CIT, which has almost $76 billion in assets, would be the biggest bank collapse by that measure since regulators seized Washington Mutual Inc. in September.

May present a good opportunity to short Euro. Jz my 2 cents~

Waiting for Big Ben tonight

Kelvin. ya, i may trade it. Asian Central Bank, Russian and Eastern European Central Bank are bidding the Euro up.

Well things can change during Mr Ben's statement.

go to www.ransquawk.com for free live forex news. Cheers

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Added on July 21, 2009, 8:46 pmFresh session and intraday highs at 1.4243 hit, with offers into the 1.4250 peak from yesterday back in focus. Also worth noting the intraday option expiries at the price so as a result look for a snap above the 50 level to generate fresh follow through. 1.4375/80 and 1.4300 then come into view with options also touted up at the figure.

This post has been edited by jurne: Jul 21 2009, 08:46 PM

USD killed across the board.

If DAX , Oil and Gold is going up. Euro will be bullish and vice versa.

Hi pros, strategy sharing anyone?

My opinion is at least a year unless u have stocks trading background.

2009 coming to an end. 2010 is just around the corner.

How did you guys perform in FX this year compared to last year?
Last year end was more volatile because of US problems, banks collapsing, housing bubble etc.
Share with readers here what u have learned this year : )
For me this year i learned a lot of price action in the FX market, especially how prices reacts to certain levels. And this year, i have enjoyed watching the Bullish Gold run~

SL is important but Entry is more important`

This is called Abu Dhabi spike. Lets see whether it does continue or reverse.

http://www.forexlive.com/71168/all/dubai-a...losely-together

Greece crisis does not look good at all.

http://www.forexlive.com/71192/all/greece-...-deadly-serious

Finally Euro reverses all its gain from the Abu Dhabi spike. Double top at last friday's low was a good short entry today.

Nice drop in Euro today. Too bad not trading anymore for this year.

Happy Pipsmas everyone!

This post has been edited by jurne: Dec 15 2009, 04:15 PM

I gonna put a small position in Long before going for Holidays with stop loss of 300pips.

Ya, i bring along my HTC to see the charts. But i won't enter new position. Just keep updated with the charts on my HTC.

Talk of Double No Touch 1.45-1.53 expiry by year end.

This post has been edited by jurne: Dec 15 2009, 06:53 PM

Bro, its a small speculative position. So its ok for my account.

I enter because i want to test the Double No Touch 1.45 - 1.53.

This post has been edited by jurne: Dec 15 2009, 08:37 PM

1.4500 is psychological support and there is a no touch option expiring year end at this level. Traders may protect the option expiry.

Ya, i agree we shouldn't pick top and bottom. Well if its a loss, i will learn from it.

Price loves to retest and retest and retest, if Euro go up from this area it may be a retest of resistance before going down again.
So if Euro goes up and test resistance either 1.4600 or 1.4680 or 38% of the move down since 1.5143. I may take profit.
If Euro goes down and hit stop loss then i accept my mistake and loss gladly.
However FOMC statement on Thursday, anything can happen.

This post has been edited by jurne: Dec 15 2009, 09:48 PM

haha, not yet christmas or new year eve. so not yet drunk.


But if i want to short Euro i will also wait it to pullback to 1.4600 or higher then only short. Today drop a lot already.

This post has been edited by jurne: Dec 15 2009, 10:03 PM

wow Gold spike 14 dollars!

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Added on December 15, 2009, 11:00 pmHi mrcg,

I am intraday scalper, i have a main account for scalping Euro.
As for my current long in Euro, its in my micro account. I went long and if it goes up to my projected level then i will take profit.
Usually if it reverses down 50 -100pips, when it pullback up, i will close either breakeven or a 20pips loss. However for this Long trade, i will try 300pips stop loss as this is my final trade for the year.
So for me, accurate entry is important. If lets say i bought at the resistance, i will wait for Euro to do a retest at that level and i will bail out with small losses.

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Added on December 15, 2009, 11:02 pmCurrently a good level to short Euro would be 1.4580 or 1.4600.

This post has been edited by jurne: Dec 15 2009, 11:05 PM