European austerity measures meeting increasing dissent
The financial markets as an entity see debt reduction as the only solution for Europe’s over-spenders but this takes no account of the toll such measures will have on individuals who lose jobs or benefits. Germany, with its trade surplus and strong saving mentality, also sees debt as the main problem but they may have to ease their demands on their near neighbours. This report is from the NY Times.

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Hi Sean,
A) Is this euro bearish article?
B) Can Cable can retrace 61.8% of 1.4976-1.5380 at 1.5226 today based on today’s price action?
Although I would love for it to retrace 50% at 1.5178 or 38.2% at 1.5130 but I wont get greedy and exit this trade at b/e or small profit and take a pledge that never to trade cable ever again.
There is talk of stops starting to build below 1.3680 that may come into play when Europe opens
Hi Puks. It’s difficult to guess what cable will do based on price action here in Asia. Early Europe will give us more information. At the moment, I’d have to say it’s holding on to its gains pretty well and buying at 15270/85 looks like a good intraday trade prospect.
Thanks Sean.
If it gets there in early EU stop hunt, i might just unload my trapped shorts and enter longs.
thanks
[...] disquiet over European austerity [...]