AUTOREFRESH 
Stress test methodology to be laid out tomorrow
By Jamie Coleman || July 6, 2010 at 14:50 GMT
|| 11 comments || Add comment
Reuters reports that European bank regulators will outline the methodology of the stress tests tomorrow.
ForexLive hears from reliable sources that regulators will walk into each banks’ vault, shout “B00!”, and if the bank is still standing, will declare the test a success.
AEP calls the stress-tests “toothless”.
That seems good enough for EUR bulls who are testing Fibo resistance at 1.2645.
any sell orders in aud/usd near by?
What about the bearish articles in today’s Bloomberg and other papers where economists are predicting 1.13 in Q3 and 1.10 by year end and parity at some stage in 2011.
I must admit, I am getting increasing nervous with my EUR shorts.
Where is JR when we need him the most?
Surely if the vault echos thats when the stress fails.
HI Jamie,
I recall a while ago, in reply to my post, you mentioned that above 1.27 you would get Bullish in EURO.
Is that still valid?
thanks
BOO!
patience always pays off puks hang on in there!
Jamie,
You said: “That seems good enough for EUR bulls who are testing Fibo resistance at 1.2645.”
What exactly do you mean by that?
Jamie I’m curious what it’s going to take to get a bout of USD buying – seems like either way the USD is dumped, good news or bad. That can’t last that long can it? I’m just wondering what would get the USD bid again vs the EUR/GBP/AUD short of Fitch downgrading england germany & france all in one go. Any thoughts are appreciated.
Good question stephen. Seems like a liquidating market and fundamentals are very much being downplayed now. Downside momentum has flagged and it looks as though hedge funds and the like are covering positions and willing to wait for another day…Until they are all done, I’m afraid we’re at their mercy….
Puks. more like 1.2770…downtrend drawn off 1.5140 comes in there…a break above the downtrend would make me a late and reluctant believer…
Thank you sir