Auslanco - GBP/JPY and GBP/USD (newstrade)

am so sleepy to see is that H&S or what (?)

Yes possible H&S, but inverse as well, 2ways to GO

we made our A B pattern today, instead of yesterday as i thought earlier.

here is a custom modified wolf elliot wave indicator which should give better waves.

and yes, today is my second day in elliot wave theory so i am no expert in this theory. the fire was started by quecee yesterday

No. there is no defined neckline or base. Or that is one lopsided personhttp://www.forexfactory.com/images/icons/icon10.gif

ya allah
hi all

LONDON (Dow Jones)--After almost one month of quiet weakening, probably much to the relief of the Japanese authorities, the yen is back in the limelight.

Record high oil prices, falling stock markets and renewed risk aversion are all playing into the yen's hand.

Analysts at JP Morgan say over the past year oil has been a good leading indicator for the dollar/yen, and this historical relationship suggests mounting downside risks for the exchange rate.
Wednesday Nymex oil futures for May delivery hit a record high of $112.21 a barrel.

Analysts at JP Morgan say both U.S. yields and global stock markets also correlate strongly with the dollar/yen and recent declines in these markets also build a case for downside risk for the pair. JP Morgan analysts also expect risk for sub Y100 levels after this weekends meeting of Group of Seven leading industrial nations, adding that a move below the mid-March low of 95.77 is also a distinct possibility
The Commerzbank team says the March 2008 low of Y95.71 is exposed and the target below is the 78.6% Fibonacci retracement level of Y94.40. Worse still for any dollar/yen bulls that are still out there the team says longer-term the record low of Y79.92, posted in April 1995, is also a valid target.

But it's not only against the dollar that the yen's immediate outlook has brightened.

Thursday's announcement by the Monetary Authority of Singapore, or MAS, of a 'back door' revaluation of the Singapore dollar immediately had a downside impact on the dollar/yen, and should limit the upside risk to the euro against the Asian bloc currencies and especially euro/yen, analysts at Royal Bank of Scotland said.
The bank says any further dollar weakness triggered by lower U.S. interest rates will more than likely pull interest rates in Europe lower than rates in Japan, therefore making the yen a more attractive proposition.

The MAS unexpectedly tightened its monetary policy to combat inflationary pressures Thursday by re-centering its trade-weighted currency band to the local currency's current level.

The Singapore dollar jumped from around S$1.3770 against the greenback to an all-time high of S$1.3580, while the yen strengthened to just above Y100 from Y102 Thursday
More unwinding of the fabled carry trades will also mean that the yen crosses have some catching up to do.

Mizuho Corporate Bank's Nicole Elliott looks for the sterling/yen rate to fall toward Y180, possibly even Y175 with only a weekly close above Y212 forcing her to adjust this view.

Sterling/yen currently trades around Y200.00.

Analysts at Unicredit also concur with the carry unwind scenario, saying both the Swiss franc and the Japanese yen should remain firm.

So are there any dark clouds on the immediate horizon that could harm the yen?

Well there's today's G7 meeting in Washington.

Analysts at UBS say the summit will probably focus on improving liquidity in response to the credit crunch, and any announcement could be supportive of risk appetite in the short ter

Hello everybody ... today is Friday and let's see what will this market give us.

At a glance to the market I believe price will rise over 202 area, may be up to 202.10 (H4 res 2) and then a big down trend should start from there targeting at least 200 which is daily pivot on my chart ... let's wait and see.

Cheers

but point of view from fibo
in the next time will say candlestick signal

Is this the report that is due out today?

Americans' confidence in the economy fell to a new low, dragged down by worries about mounting job losses, record-high home foreclosures and zooming energy prices.According to the RBC Cash Index, confidence dropped to a mark of 29.5 in April, down from 33.1 in March. The new reading was the worst since the index began in 2002. It marked the fourth month in a row where confidence has fallen to an all-time low.



Consumers are very pessimistic," said Mark Vitner, economist at Wachovia. "There are not a lot of happy campers out there."Over the past year, consumer confidence has deteriorated significantly. Worsening problems in housing, harder-to-get credit, financial turmoil on Wall Street and lofty energy prices have put people in a much more gloomy mind-set. Last April, confidence stood at 85.4. The index is based on results from the international polling firm Ipsos.
All the economy's problems are taking a toll on President Bush's approval ratings, too. The public's approval rating on his economic stewardship fell to a low of 27 percent, according to a separate Associated Press-Ipsos poll. Bush's overall job-approval rating dipped to 28 percent, also an all-time low, the poll said.
Many economists believe the country has tipped into its first recession since 2001. Federal Reserve Chairman Ben Bernanke for the first time acknowledged last week that a recession was possible. It was a rare public utterance of the "r" word by a Fed chief.
"Consumer sentiment is tracking at levels we think are consistent with a mild recession at this point," said Brian Bethune, economist at Global Insight.
A measure looking at consumer's feelings about current economic conditions slipped to a 54.6 in April, from 54.7 in March. The new reading was the lowest in six years of records.
Rising unemployment and job losses are making people more uneasy.
The government reported last week, that employers slashed 80,000 jobs in March, the most in five years and the third straight month where the nation's payrolls were cut. The unemployment rate jumped from 4.8 percent to 5.1 percent, the highest since the aftermath of the devastating Gulf Coast hurricanes.
Another factor blamed for eroding consumer confidence is high gasoline prices, which are socking people's wallets and pocketbooks. That's squeezing already strained budgets and leaving people with less money to spend on other things.
"Much of the angst we're seeing from consumers is `Gosh, I'm working harder and harder, and all I'm doing is paying for my basic necessities. I don't have anything left to have any fun,'" Vitner said.
Gasoline prices, which have set a string of records in recent weeks, climbed to a new record of $3.357 a gallon on Thursday, according to AAA and the Oil Price Information Service.
Anxiety also has grown as people wonder if there is any relief in sight for the troubled housing market. With the housing collapse, many people have watched their single-biggest asset -- their home -- drop in value. That has made them feel less wealthy and less inclined to spend.
Against the backdrop of all these concerns, another measure tracking individuals' sentiments about the economy and their own financial standing over the next six months fell deeper into negative territory. This gauge dropped to a negative 48.3 in April, down from a negative 41.6 in March. The new reading was the worst on record.
A measure on consumers feelings about employment conditions fell to 97 in April, from 99.2 in March. The new reading was the lowest since early October 2003. Another gauge of attitudes about investing, including comfort in making major purchases, declined to 56.4 in April, from 56.7 in March. The new figure was the lowest on records going back to 2002.
Economists keep close tabs on confidence barometers for clues about consumer spending, a major shaper of overall economic activity.
Cautious shoppers gave most retailers their most dismal March in 13 years, according to sales figures reported by major retailers on Thursday. J.C. Penney Co., Gap Inc., and Limited Brands Inc. were among the merchants hit by a sharp drop in sales.
The RBC consumer confidence index was based on the responses from 1,005 adults surveyed Monday through Wednesday about their attitudes on personal finance and the economy. Results of the survey had a margin of sampling error of plus or minus 3 percentage points. The overall confidence index is benchmarked to a reading of 100 in January 2002, when Ipsos started the survey.
Pointing to the overall confidence reading of 29.5 in April, T.J. Marta, a fixed-income strategist at RBC Capital Markets, said: "What confidence? There is no confidence. It's like 1929.

yes im waitng now this signal on my shoch indicators.. but if i feel smell of 204 im ready to go up

where???

RETEST DPP 200.013

Awesome thanks Q you are awesome dude.

maybe!!!!!!!!

Actualy, MPP 199.566 + GannHILO[10] @ 240min/4h

DJIA moving down. GE Earnings were bad. This might be a reason for longs to bail out ahead of the G7. Just a thought.

also DAX

i went to get myself a drink and our fren has moved 100 points

Naked Chart......mm so what are the three indicators below it. Naked is generally accepted as no moving averages or other indicators superimposed on the price action AND no indicators below the chart.

Thus trading decisions are based on price action around support and resistance levels - these may also include trend-lines.