Italy's Monti is also due at the microphone soon -- he will most likely also paint a rosey picture and sing the praises of the 19th and counting Euro Summit -- all to talk down his bond yields -- also to be taken with a grain of salt

EURUSD

Spanish Fin Min goes on to paint rosey scenario of Spanish Bank Recap and formation of a "bad bank" -- says recap funds in a matter of weeks -- reflected in falling Spanish Ten Year yields and supportive of EURUSD.... for now He is hardly going to ...

EURUSD

Spanish Fin Min says a handful of contries CAN NOT block bond buys by ESM... Contradicts Finlands contention yesterday that unanimous agreement of all 17 EU contries neeeded for ESM bond buys--- and it would block

EURUSD

My only caveat is that that I don't think 1.2600 or even the weekly pivot slightly lower is a equilibrium point for the market to oscillate around ahead of the ECB decision.... I think a neutral point would be 1.2500... and that's a 100 pips away ...

EURUSD

My plan for the day is to continue to look for short only entries. I think the June advance is corrective in nature, (still) and although the Summit hopium rally is impressive, it failed to take out the June monthly high, and we gave back half the ...

EURUSD

Looks like an inflection point to me...

EURUSD

Just because it sticks its nose over 2580 doesn't mean it has taken back the level... it needs to get established above 2580

EURUSD

Your trade got better on the break of 2580... and its an excellent place to move SL to BE.... because now the 2580 becomes resistance -- prior support turns resistance -- If price moves against your trade from here -- and manages to also take back ...

EURUSD

You can be wrong a lot of times and still show a profit on a trade with so tight a stop... there was valid reason for it to hold....WP... prior test that held... It didn't work out but that was not one of the random call trades so often posted ...

EURUSD

You'd know immediately on a break of 1.2580 when the stops are hit to get out --- I agree looks lower... but that trade has so little risk...

EURUSD

I like this entry because the stop can be so tight -- WP etc --- but I gotta stick to my trade plan... no discretionary trades allowed Good luck I think lower in the long run, but its a good guess at a bottom

EURUSD

Correct -- its just blustering to get the price of oil up -- still the market will react first to news like that

EURUSD

Spanish Ten Year now trades 6.335 which is still good... below 6.3 was very very good Above 6.6 means risk off, Euro crisis back in play -- Of course 6.9 or above Spain meeds bailout -- hit the sell button The Iran story -- is blustering bullshit ...

EURUSD

More Clarity -- Its a draft bill not passed -- it would apply to tankers from those countries that support sanctions...

EURUSD

They need OIL to go up -- still perfectly timed with the data relese to spook markets through the stops at 2580

EURUSD

Iran parliment has passed a bill backing the Closing of the Str8 of Hormuz ---

EURUSD

Spanish Ten year takes out former support turned resistance at 6.3 -- bearish-- Watch for those stops at 2580 to get tripped... or hold

EURUSD

Very strange that equities are falling like a rock and currencies are unchanged on ISM disaster numbers -- delayed reaction? Ususally not by this much

EURUSD

ISM worst since July 2009 -- S&P tanking

EURUSD

EU says "It is too early to tell if unanimous agreement would be required for ESM Bond purchases"...

EURUSD