EURUSD

like asking a broken company owner, are you going to acquire the competence healthy financial companies?

usa is broken, or maybe more than that, is there a word to mean it?....

so dollar....

I'm going buy at 5850, and sell at 5700

Long if it hits 5827

Short if it hits 5670

Don't you be doing what I'm doing.

Hey clouds, check out this guy's chart analysis,, Grega,, for the looks of it, 5850 - 60 should be a good sell zone ,, what is your analysis to buy at that high level?

just curious..

Hey that's what I used to do... -150 pips!

Yes I know that's not what you meant.

I'm still long from last week. Up 973 @ 1.5789.
Come on E$, Run E$, Run.

My Stop Loss was hit on that one last week. Still not a bad run. 1.5605 to 1.5773

That's not what it means, it means the rumour of a rate hike has/may already been priced in.

This is why the price can move in the opposite direction when the news comes out, people have bought (or sold) on the rumour and sold (or bought) on the fact and are taking profits.

[Wednesday, July 2, 2008]
[Market Briefs]
* Japan LDP calls for Y10 trln wealth fund from public pensions - Nikkei.
* BoJ likely to cut FY "08 growth outlook , economy slowing, prices surging
- Nikkei.
* Japan Jun monetary base +0.4% y/y to Y88.016 trln, May -0.9%.
* Fed Lockhart - Must act decisively to stop inflationary wage rises, risks to
markets present policy-makers with short-term trade off, tentative signs
housing forming a bottom, USD depreciation and strong overseas growth have
helped US exports, H1 "08 growth 1-2%, not much pickup in H2 - Reuters.
* US Jun light vehicle sales -8.5% at 1.194k, car sales -2.1%, trucks -18.8%,
annual sales rate 13.69 mln units.
* UK CEBR - Growth to slip to 1.3% in "09, lowest since "92, prev fcst +1.5%.
* Australia May retail sales +0.7% m/m, +0.1% eyed, rise highest since Nov "07,
trend +0.1% m/m, Apr rev -0.1%.
* Australia May bldg approvals -6.5% m/m, -3.0% eyed, +0.2% y/y, priv-sector
-1.2% m/m, value of approvals +0.7% m/m.
* Australia Jun skilled vacancies index 94.4, -0.1% m/m, -2.9% y/y.
* NZ Jun new car registrations +20% m/m, +5.5% y/y, used cars -5.5% and -29.6%.
[Looking Ahead - Economic Data]
[GMT MKT Release PER EST Last Med Range ]
09:00 EUR PPI %m/m May 0.7 0.8 0.7 0.4 1.0
09:00 EUR PPI %y/y May 6.6 6.1 6.6 6.2 6.8
14:00 USD Factory Orders %m/m May 1.0 1.1 0.6 0.0 1.4
14:00 USD - Ex-Transport %m/m May 1.4 2.6 1.2 1.0 1.4
[Looking Ahead - Events, Other Releases]
N/A OECD "08 employment outlook release followed by press conference.
07:00 Riksbank begins two-day policy meeting, 25 bp repo rate hike eyed tomorrow
07:15 ECB Pres Trichet speech in Paris.
11:00 ECB Tumpel-Gugerell speech in London.
11:00 Germany E7.0 bln 4.25% 2018 Bund auction.
11:00 UK DMO GBP2.25 bln 4.5% 2042 Gilt auction.
14:00 ECB/BoI Draghi testimony before Italian Senate.
15:00 US TsySec Paulson speech in London.
16:00 Fed Mishkin speech in Eilat, Israel.
(See North American Open for a detailed listing of US releases and events.)
[Currency Summaries]
[USD/JPY] and JPY crosses traded lower in Asia after early moves up. This seems
to have become the recent pattern, especially with the Nikkei trading down again
today. The index saw modest losses during the morning session, and this caused
USD/JPY to fall from an early high of 106.19 to 105.83. The pair has since shown
some bounce and is holding around 106.00 at writing. London and New York could
take it down again but Japanese importers and investors are likely to be good
buyers towards the overnight low of 105.23 and around 105.00, 104.99 the spike
low Monday. Trading is likely to remain thin ahead of the US non-farm payrolls
report tomorrow. [EUR/JPY] moved down in tandem with USD/JPY from 167.68 to
167.35 before bouncing. The market here is equally thin ahead of the ECB
interest rate decision and statement tomorrow. [GBP/JPY] consolidated in a
211.17-74 range, near the top of this week"s range. [AUD/JPY] looked heavy
early, easing off from 101.40 or so to 101.00 following a dovish RBA yesterday
but bounced to 101.83 on the back of a strong retail sales report and investor
interest. [NZD/JPY] rose in sympathy from 80.17 to 80.46.
[EUR/USD] opened in Asia at 1.5790 after topping out at 1.5827 overnight and
easing thereafter in the wake of the better than expected US ISM and the
recovery on Wall Street. After edging down to 1.5787, it went bid tone on
USD/JPY-led USD weakness, trading up to 1.5818. Rumored offers from sovereign
names from 1.5825 to 1.5845 discouraged attempts higher. EUR/USD later drifted
back into a 1.5800-10 range.
[GBP/USD] opened in Asia at 1.9945 after easing back from a high of 2.0008
overnight on broad USD strength with US ISM data strong and Wall Street
rebounding. Cable attempted to rally early on general USD weakness, trading up
to 1.9954, but good offering interest around 1.9955 capped it. It later traded
down to 1.9731 on [EUR/GBP] buy-side flows. Stops are eyed below 1.9880 and
above 2.0010. The cross moved up from 0.7918 at the open to 0.7929 before easing
off a bit.
[USD/CHF] did little in a tight 1.0182-1.0210 range. Like USD/JPY, USD/CHF
traded off a bit early before steadying. [EUR/CHF] traded up to 1.6123 before
easing back to 1.6097.
[AUD/USD] opened in Sydney at 0.9548 and traded a 0.9533-0.9603 range. The
session started off slow, edging lower on renewed selling following the dovish
RBA statement yesterday and a market betting on a weak retail sales number. The
data proved much stronger than expected and AUD/USD and crosses. AUD/USD rose
its lows to around 0.9575. After consolidating for a time, it tracked higher
again, taking out some stops above. More are seen above 0.9610.
[NZD/USD] opened at 0.7580 in Wellington, dipped to 0.7562 prior to Aussie
retail sales data, and traded up after the report to 0.7598. The lack of major
local NZ news or data limited action. There are offers at 0.7625-30. [AUD/NZD]
opened at 1.2600 and traded up from an early low of 1.2592 to 1.2650 range on
back of strong Aussie retail sales data.
[Other Asset Markets]
[The Nikkei] did little today, maintaining modest gains. Indicated at 13,502.89
currently, it is up 21.51 points on the day. The range so far has been
13,448.35-13,576.41. Other Asian bourses were mostly down.
[JGBs] and [Euroyen] futures did little today. The long looked better bid. The
yield on the benchmark 10-year issue is indicated at 1.655%, down from 1.670% at
the close yesterday. The front futures contract is indicated at 134.73, up 4
ticks on the day after a 134.54-89 range. The March Euroyen contract is
indicated at 98.965, down from 98.980 at the close yesterday.
*************@thomsonreuters.com

It looks like the EU pair might be entering a tight range between 1.5840 and 1.5715 in the short term.

My charts and analysis here:
http://piphut.com/2008/07/technical-...g-tight-range/

Take a look at eur/gbp, I am long from 0,7921 with a TP @ ~0,7990.

Here's my analyses for the next 2 weeks only for long targets if by some tragedy, possibly hit a ceiling around 1.5946~ if it breaks, next target would be around 1.6016~ from now till 7/7/08 if by some nightmare that breaks as well then 1.6310~ could be a possible target from 7/7/08 to 7/13/08. Then again I can be wrong, the market is there do prove us all wrong.

cheers. ill post the short possibilities later.

hi Fxcapital....

dont bow to me im nothing good.

been gone for the past day and a half practicing trading the range in the E/U, I have to say when you get in a rhythm it all falls into place like dominoes. that i have to say was the hardest market condition.

I'll be watching trichet in an hour to see any hints, maybe the euro can drop.

Trichet vs non-farm.......... which one outweighs the other??

I think ..Retail sale

FXC,

Can you please tell us what he said? I really don't know where to watch him talk at all! All I see is the damn EUR boucing up and down like walking on fire! )

Spaz, you can watch Trichet live here

http://www.bloomberg.com/avp/avp.htm?clipSRC=LiveBTV