Daily Cable Analysis

wonder what kind of move we will se at the asian open??? anyone have a thought??? or is the european open the one to look for???

risk/reward ratio 1:8 agree?

I thought every man has a wife and a hottie or two in Brasil?

we do'nt seem to be making any new highs same familar range but we do seem to be expanding the range lower 1.9544 and now 1.9479 hmm

I think that you will find that this will soon change - a close above 9645 today and we should be seeing lower lows and higher highs once more.

shhhhhhhhhh

On Monday we have a candle saying "we're not going down, guys. We're going up"

On Tuesday the candle says "we're not going up, are you crazy? We're going down, moron"

Today's saying "gotcha!"

I'll get back in on London only...

if former [email protected] is now resitance if that were to hold we could see fib retracements from 1.9479

And finally, this is my hourly

http://i2.photobucket.com/albums/y28...nc/jan31-3.jpg

may not have a chance tomorrow for an early pullback - the open tomorrow will be pretty damn close to the low for tomorrow.

tomorrow we should looking for

PMI and PCE before anything else ....

The reaction thus far to the FOMC statement has been dollar bearish, but only to a small degree. The release was well anticipate and the reaction somewhat muted. This will leave the market more sensitive to Non-Farm Payroll on Friday as it looks for clues to future direction. Minor support and resistance in the major US based pairs is currently capping the price action and will likely continue to do so through the balance of the US Session.
Volatility levels should stay low through the next twenty four hours or so, giving us good capacity for excess volatility on Friday.

Colombian Stocks Rise After Strong US 4Q GDP Growth Data

BOGOTA (Dow Jones)--Colombia's benchmark stock index advanced Wednesday following the release of stronger-than-expected fourth-quarter gross domestic product data in the U.S., analysts said.

The Colombian benchmark stock index advanced 1.3% to 10,796.02 points, following a 0.8% gain the previous session.

Earlier Wednesday, the U.S Commerce Department reported the U.S. economy advanced at a seasonally adjusted 3.5% annual rate in the October-December period, which shows the economy is more robust than originally expected. Economists had expected an increase of 3.0%.

The data is really good and disallows fears that the U.S. economy was entering into recession," said Nicolas Acevedo, international analyst for the country's largest bank, Bancolombia

"Shares also rose as analysts expect good company earnings in the full year of 2006," said Edgar Jimenez, equity analyst with local brokerage Promotora Bursatil

scratch that buy scenario, I erased it - upon further review, I think that idea:

i think it will bounce off the upper 1.96 area like it did on tuesday morning, say 1.9690 ish and then trend downwards to 1.95, i expect it to sit around 1.9560-1.9590 before NFP

just my opinion, hope it makes me money!

i have 1.9672 and 1.9697 as resistance, i think 97 holds and sells off from there, will short if it gets up there

What do you guys think of these support and resistance areas?

R3 = 9733
R2 = 9698
R1 = 9675
S1 = 9603
S2 = 9580
S3 = 9545

Here is a chart showing the Upwards move from 1.9480 to 1.9668.

The Fibo setup is:

38.2 - 1.9596
50% - 1.9574
61.8 - 1.9552

The median range is at 1.9587 area.
High 1.9618
Low 1.9565

There are 3 circles on the chart that will track this retracement.

In the cirlce there is a Triangle, the perimeters are as follows:
Top - High 1.9668
Bottom - 61.8% Fibo Level 1.9552
Middle - Is the middle of the distance between the Top and Bottom - 1.9610

This triangle is a identification to watch price movement in the retracement setup.

If the Price extends past the Triangle and into the cirlce areas, this would project a slower period for the retracement to complete.

If the Price extends into the Circles, and remains there, then the High for the Fibo Setup may be extended if there was a higher move, this would require a re-settng of perimeters.

Each Circle is the Fibo Levels 38.2%-50%-61.8%.

This helps in identifying if were in the retracement move, or if the retracement is not ready yet.

When a cirlce is breached and price penetrates the outer circles and outside the Triangle area, it would allow a extension projection for a continual movement upwards, and the Fibo Level that is penetrated would be the Fibo extension that I would project if it continues upward.

This is a Test run on this theory, I just made it up right now.


There are many types of calculations and theories, but only one way to make profits - trade the current price movements!

The chart say High 1.9688 - this should be 1.9668

Here is a better color for the background.