Malaysia

Nice pullback trading for today on EU.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.9654; (P) 1.9719; (R1) 1.9783; More
Outlook in cable remains unchanged. It's still bounded by choppy sideway trading between 1.9599 and 2.0029. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions could continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low.
In the bigger picture, down trend from 2.1161 have made a low at 1.9337. Recent price actions suggest that rebound from 1.9337 is still in progress and is set to have another rise to 2.0391 and above. However, strong resistance should be seen at 61.8% retracement of 2.1161 to 1.9337 at 2.0464 and bring completion of the corrective rebound. On the downside, break of 1.9599 will revive the case that rise from 1.9337 has completed with three waves up to 2.0391 and will encourage retest this low.

Close this trade for a mere pips... price looks confused...

Nice trades for the day... See you guys again tomorrow. Peace

Cross Pair - GBP/CHF - Binocular 1 hour

http://img521.imageshack.us/img521/1739/gc1jamjs2.jpg

That was a smart move Could have hit your SL already now. Cable already penetrate today's High

p/s: Higher TF always give a clearer Clue

Too bad I took out the EU Long profit too early. Prematurely. My Entry was nearly perfect at the Dip when it touched the RBS (yellow line). No point talking when the price already moved. I should be contempt with all the green pips today. Alhamdulillah

ZACK... it like familiar name... maybe on my ym... or maybe wrong person...

guys what happend to CABLE ? i close my long earlier 50 pips on green b4 went out... OMG !! the highway is there...

UJ down already... waiting GU down to get rocket on GJ...

short on GJ just below S1... look like hard to cross 205.68 (erkk blur what support is that... my chart show me M1)

GOLD going up almost 1k pips...

I am feeling so tired and sleepy already Need a good rest. Placed SL at 1 pip on the green. TP is set around 161.8% Fibbo extension. See you guys tomorrow Nite nite everyone.

Timeframe 4 Hrs - Gbp/Usd..

http://img254.imageshack.us/img254/5...amwave5yo2.jpg



p/s - wave 5 completed..now undermaking W1 UT...trade @ ur own risk

told ya early in the morning.

Hi Guys......1000 pips!!!!....with my alert

I'm kind of not getting ur idea about th forum,can't even see the screenshot u av for explanation anyway.

Cable failed to penetrate the Weekly Pivot to reach my target. Hit SL at 1pip Green I go SHORT now for this News.

7:01pm GBP http://www.forexfactory.com/images/m...act_medium.gif Consumer Confidence Index 70 74 77

T.A.Y.O.R!!!

I am expecting more RED News from UK later... just a SPECULATION with past deteriorating data. Forecast also RED.

Anyway... anything can happen between now till the release. Japan back on business

4:30pm GBP http://www.forexfactory.com/images/m...mpact_high.gif Industrial Production m/m ??? -0.1% 0.3%
4:30pm GBP http://www.forexfactory.com/images/m...act_medium.gif Manufacturing Production m/m ??? 0.0% 0.4%

20:24 GMT May 6th EUR/USD opened around 1.5530 in New York and was pressured higher from the get go as oil futures climbed on their way to record highs. The surge in oil futures to $122.35 for the front contract prompted a stop loss jag as algo systems kicked in, and IMM traders jumped on board. Spot surged to 1.5593 as traders probed for more stops, but ran into heavy offers ahead of 1.5600. Sovereigns were heavy sellers around the 1.5550 area, and were suspected to be the pre-1.56 supply. The topside failure prompted mass liquidation from the IMM and spec accounts, spot fell to 1.5520 PM lows, and closed at 1.5525.

Traders noted markets are still quite illiquid which magnified market moves.

There was heavy 2-way flow in the 1.5540s, large German on the bid vs US investment house on the offer. The drop when it came was hard and fast, with some EUR/CAD stops triggered by the sell off in USD/CAD. EUR/CAD collapsed to 1.5533 at the low having hit 1.5773, the close was 1.5555. S&P opined that the worst of the credit turmoil is behind us, and sees $94bn in 2008 losses. This helped the USD recover some ground this session. (PW/RS)

欧元兑美元：振荡较大 回吐部分涨幅

欧元/美元上行测试后，仍未能将止损引发，汇价跌至起始水平，回吐了部分涨幅，自高点1.5593跌至1.5547附近，日投资者不知所措。托管银行称欧 元/美元交投有限，实钱账户的买盘温和，推动了汇价上行，欧元/瑞郎的买盘更多些。有消息成，欧元/日元在162.00曾有大量买盘，因此上行压力推升了 汇价。传闻主权财富基金曾大量抛售欧元。

22:42 EUR/USD: Opens Slightly Firmer In Asia
Sydney May 7. The EUR/USD dipped to the session low at 1.5455 in the European morning, on EUR cross selling and a weak long squeeze. The pairing then rebounded to 1.5593 on the soaring oil price and early triple digit losses on Wall Street, as earnings in the financial sector disappointed. The EUR/USD slipped back to trade 1.5520/45 in the NY afternoon, as the Dow recovered to close up 50pts on reassurances from Fannie Mae, a positive outlook on the banking sector from S&P and the perception that the Microsoft/Yahoo deal is not dead.

The overnight activity sees the EUR/USD open around 40 pts higher than yesterday, so the upward correction remains in play, with an initial target at 1.5610/15, being 38.2% of the 1.6020/1.5360 slide. In Asia today we expect EUR/JPY flow to be a significant factor, as Tokyo returns from "Golden Week", with initial support and resistance at last night"s 1.5455/1.5590/00 range. T [email protected]

欧元兑美元：多头结利抑制升势

欧元/美元多头在1.5600下方结利，抑制升势，1.5612是 fibo 回档阻力，下降10日均线也在此附近，听闻一些大型账户考虑在现价附近做多，预计在伦敦收盘时分抑制回落幅度。关注原油价格走势，有见顶回调风险，若油价跌落，美元将得到支持。

OMG!!! Oil reached $122.35 per barrel I am gonna start digging my backyard to search for oil in the ground

Look at Canadian Dollar... it's becoming expensive with the rising OIL price.

Look at Aussie... it also becoming expensive with rising GOLD price.

Anyone SHORTed EU? I went SHORT after the Shooting Star confirmed by Bearish CS. Now even better with the FLAG Formation broke downside.

T.A.Y.O.R!!!

Updating the Daily Pivot.

Shooting Star... confirmed by Bearish CS... Broke FLAG Formation... plus H1 CS closed below the Daily Pivot.

Almost all technical bias on the BEAR with this pair.

T.A.Y.O.R!!!