Malaysia

DPP still holding strong as immediate resistance. Let see if this hourly CS gonna close Above it or Below it. It might be making a serious review of the whole situation if the hourly CS close above DPP.

Variable change... everything else change.

the thing that worrys me about shorting is on the 4hr when we were sinking the bodies of the bearish candles are so small harami type candles..

could this be a indication that bears running out of steam.?? but like u say pivot is holding the bull pressure so difficult to say ..

It's all about technical skill today. With no important NEWS around until US session... Technical analysis is vital. Cable might be just RANGING till US session Nothing to DRIVE the market now.

Variable still the same... Hourly CS closed below DPP. Still clinging on my hope of a lower LOW.

However, can't really seat back and relax... If this current hourly CS close as Bullish CS later on... that will confirming the reversal... and making this as a HIGHER LOW... and the BULL will later penetrate the DPP to test the TRIANGLE RESISTANCE for a Higher HIGH.

As right now... I am still pissing in my SHORT

either the weekly r1 will give or pivot.....rock and hard place...

MY PO hit for sell mode but seeing bull power is very strong.. hope this level remains strong resistance and US do perform tonite..

It's happening now. One of many variables just been changed. The BULL is on mission for the HIGHER HIGH. The Triangle Resistance is being test and all my SL are placed above it. Had been on winning streak this week. Today could be my losing one. SL still intact so far... more likely gonna get hit soon if that Triangle Resistance couldn't hold.

Ouch... reviewing the whole situation again. But then US session is not active yet.

I Hope This Helps !

From my Home Thread, "Knowledge Is Power"

oday 5:17am
Warren Forex http://www.forexfactory.com/images/s...ser_online.gif
Warrenforex
Member Since Sep 2006
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http://www.forexfactory.com/images/icons/icon14.gif Overview From Saxo Bank - Excellent !!!
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Market Comments
The USD found support yesterday on a raft of developments. US banking stocks saw an enormous rally yesterday, with the Financial Select SPDR ETF rallying more than 13% on two developments. First, the SEC has declared a 30-day ban on "abusive" naked short selling in 19 stocks in the financial sector, including, of course, Fannie Mae and Freddie Mac as well as a number of major financial institutions. While this is not a ban on short selling in general (normal short selling requires that shares are "borrowed" before they are shorted), it certainly is a sudden and intrusive presence in the market and requires that firms involved in short sales tread much more carefully and no doubt triggered some degree of generalized panic buying. A second drive for the buying was the Wells Fargo earnings announcement. The fifth largest US Bank and major mortgage lender, Wells Fargo handily beat earnings estimates and even raised its dividend 10%, a shocking development in an environment in which many are running around talking about mass insolvency this and systemic meltdown that. All markets will be watching further key bank earnings reports today, with Merrill Lynch and JP Morgan reporting, and tomorrow, with Citigroup's report on tap.
Also supportive of the USD, risk appetite (and therefore a stopper for the carry trade sell-off) yesterday was another deep sell-off in crude oil on large weekly US inventory builds in crude oil and the major refined products. Still, yesterday was the expiry day for August crude options and the front contract found support at the 55-day moving average, so the jury is still out on the trajectory of oil prices.
Yesterday, Bernanke delivered the same testimony to a House panel that he had delivered to a Senate committee the previous day. During the question and answer session, however, Bernanke was asked for the first time about whether intervention against the weak USD might be necessary. He answered the question very carefully, but did state that a disorderly market may justify intervention, even if intervention should be "rare". We must remind ourselves that USD intervention is a distinct possibility soon if the greenback is not able to find support in its own right and falls to new lows. In other Fed developments, the minutes of the latest FOMC minutes showed that some Fed officials favor a rate hike very soon. (Meanwhile, articles abound arguing that the Fed will end up cutting rates further by year end.) Despite all of the developments we've listed, the EuroZone/US rate differentials have hardly budged since the beginning of the month. The best plan may be to assume that this is a short squeeze and to look for good entries on a further rally in the carry crosses in the coming sessions.
Lost in the maelstrom of news was the US CPI, with the core reading at a higher than expected 0.3% on a MoM basis, and YoY headline inflation at 5.0% - the highest level in nearly 20 years...
Technical Impressions
Technically speaking the USD remains broadly weak, even if momentum is very low and we saw a couple of reversal formations in USD/JPY and USD/CHF yesterday and EURUSD is officially rangebound for now as long as it remains below its recent highs. In the bigger picture, USD bulls need to see EURUSD back below 1.5600, GBPUSD below 1.9700, AUDUSD below 0.9500, and USDCAD above 1.0300 again to gain any measure of longer term confidence that the bottom is in for the USD. We leave out USDJPY because we feel the JPY is a wildcard and its negative correlation with the USD could flip at some point.
For today only, the short term resistance level at 1.5865 looks like an important pivot point for EURUSD and 1.5800 looks like important support level. In GBPUSD, 1.9958 looks like an important short term support, with the 200-day moving average coming in this area and as it was previous high and then yesterday's low. USDJPY has a resistance zone at 105.30/50 (0.382 Fib retracement and Ichimoku cloud on daily respectively) followed by key 55-day moving average up at 105.75 area. EURJPY resistance comes in around 167.00 and first support below yesterday's 165.43 low comes in at the 165.19 55-day moving average and the major old high at 164.96.

Went long after my short on GU hit SL 1 pip on the green....Now look good already....SL at BE....However GU might dive again....

Ain't not much signal from Oil and Gold to make me SHORT the Greenback now. Reviewing the situation... revising all SL now.

Tell me now... you would rather LONG or SHORT the GreenBack (USD)?

Was that a BULL TRAP?

p/s: I added another SHORT on GU after Revising all SL.

T.A.Y.O.R.

JP MOrgan Chase just reported better than expected earnings. I think Coke and another company are going to report soon.. so if they come out good, USD will get stronger.

Cheers mate

p/s: Variables change... everything else change. Uh... Forex is so sensitive nowadays.

Hopefully.. these things are all over the place. Even though JP earned 0.54 (estimated 0.44) now they are saying that their profit is lower. This thing is going to go up and down with every statement that comes out lol.

I'll prefer buying dips - unless Coke comes out very strong.

Edit - Yeah, about those variables - tell me about it! Oil, gold, inflation, bank failures, earnings report, wars... etc.

Coke Earnings come out yet? I suspect suppose to be good since weak USD ... bloated the "income value" from overseas sales.

Yep, coke is $1.01 vs $0.96 .. Nokia also showed profit, so overall the markets look like they should rally.. stronger $.

nokia is from finish arent ya?