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  • #21,021
  • Aug 17, 2008 7:07pm Aug 17, 2008 7:07pm
http://stockcharts.com/h-sc/ui?s=$US...370&a=34965646

Does Not Seem Much Higher To Go Without Pullback ?


Bruce
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  • #21,022
  • Aug 17, 2008 7:24pm Aug 17, 2008 7:24pm
00:18 USD/JPY: Down After Trade To 110.67, Selective Cross Weakness Tokyo, August 18. USD/JPY traded up to as high as the 110.67 level on Friday, effectively taking out whatever option barriers there were at 110.50. it has since traded heavy on the combination of more Japanese exporter offers trailing higher and defense of more option barriers topside. Some players suggest some barriers may be as close as the 110.75 level. Confirmed barriers look to be present just above at 111.00 and 111.30. There is no doubt these levels will eventually be tested should USD strength continue.

That said, action remains thin on lingering summer holidays and sizeable offers amidst thin trading conditions could keep the topside limited for now. Selective JPY cross weakness, such as that being witnessed by EUR/JPY, also looks to be helping to cap the topside. Support below is seen around the 110.00 level seen currently. Stops above this level were large on the break above on Friday. Japanese importers and other buy-side players are likely to bid on dips below. For now, dealers eyed a possible 109.90-110.55 range, about the range seen so far today. USD/JPY currently trades 110.05/08. [email protected]
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  • #21,023
  • Aug 17, 2008 7:28pm Aug 17, 2008 7:28pm
http://www.actionforex.com/technical...-200603205734/


Bruce
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  • #21,024
  • Aug 17, 2008 7:34pm Aug 17, 2008 7:34pm
00:29 EUR/USD: Bout of Short Covering in Early Asia August 18. With little in the way of fresh news over the weekend, traders have targeted a few weak stops on the topside in early Asia trade. Pair managed to get to 1.4701 before the UK right move news knocked GBP/USD lower and with it EUR/USD. The Euro didn"t stay down for long however and it sailed though 1.4700 next time round trading up to a high so far of 1.4720. Traders say they do not see any serious Euro selling interest until above 1.4750. [email protected]
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  • #21,025
  • Aug 17, 2008 7:38pm Aug 17, 2008 7:38pm
Quoting Warren Forex
00:18 USD/JPY: Down After Trade To 110.67, Selective Cross Weakness Tokyo, August 18. USD/JPY traded up to as high as the 110.67 level on Friday, effectively taking out whatever option barriers there were at 110.50. it has since traded heavy on the combination of more Japanese exporter offers trailing higher and defense of more option barriers topside. Some players suggest some barriers may be as close as the 110.75 level. Confirmed barriers look to be present just above at 111.00 and 111.30. There is no doubt these levels will eventually be tested should USD strength continue.

That said, action remains thin on lingering summer holidays and sizeable offers amidst thin trading conditions could keep the topside limited for now. Selective JPY cross weakness, such as that being witnessed by EUR/JPY, also looks to be helping to cap the topside. Support below is seen around the 110.00 level seen currently. Stops above this level were large on the break above on Friday. Japanese importers and other buy-side players are likely to bid on dips below. For now, dealers eyed a possible 109.90-110.55 range, about the range seen so far today. USD/JPY currently trades 110.05/08. [email protected]
I don't put much stock in "wild west sunday" action. But I guess the currency strategists have to write something.
  • #21,026
  • Aug 17, 2008 7:48pm Aug 17, 2008 7:48pm
Quoting deuce
I don't put much stock in "wild west sunday" action. But I guess the currency strategists have to write something.
I agree as that is their Job ! Now This !

Strategy:[email protected] After booking roughly 80 pips on Friday"s short overnight, we gave it back on a second trade, which was stopped on the bounce in Asia this morning. Daily studies are mixed at highly oversold levels, but the trend remains strong and our bias is down. Hourlies are mid range and our strategy is to sell a topsid efailure. (ams) 00:44 GMT
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  • #21,027
  • Aug 17, 2008 8:00pm Aug 17, 2008 8:00pm
What's everyone's sell target at on the EURUSD?
Pippin ain't easy, but it sho is fun!
  • #21,028
  • Aug 17, 2008 8:01pm Aug 17, 2008 8:01pm
Quoting Warren Forex
I agree as that is their Job ! Now This !

Strategy:[email protected] After booking roughly 80 pips on Friday"s short overnight, we gave it back on a second trade, which was stopped on the bounce in Asia this morning. Daily studies are mixed at highly oversold levels, but the trend remains strong and our bias is down. Hourlies are mid range and our strategy is to sell a topsid efailure. (ams) 00:44 GMT

Our strategy? Warren you have still failed to answer the question of what your real motives are. What are you selling? Its a simple question isnt it? Are you trying to get folks to put there money into managed account by you? Are you selling a service? What is it?


Later
  • #21,029
  • Aug 17, 2008 8:04pm Aug 17, 2008 8:04pm
I got a long order @ 4768.

Will this week be the return of the bulls?
Not all sins are created equal
  • #21,030
  • Aug 17, 2008 8:05pm Aug 17, 2008 8:05pm
Quoting kodie2006
What's everyone's sell target at on the EURUSD?
14950 or higher but first must clear 14750

eurodollar
  • #21,031
  • Aug 17, 2008 8:06pm Aug 17, 2008 8:06pm
Quoting steelhead
Our strategy? Warren you have still failed to answer the question of what your real motives are. What are you selling? Its a simple question isnt it? Are you trying to get folks to put there money into managed account by you? Are you selling a service? What is it?


Later

It's from IFR Markets trading page. Available on the fxnews section of the Oanda platform.
  • #21,032
  • Aug 17, 2008 8:07pm Aug 17, 2008 8:07pm
so majority of the folks here holds a sell feel for this pair ya.. however look at these few hours up all the way.. looks scary ya
  • #21,033
  • Aug 17, 2008 8:09pm Aug 17, 2008 8:09pm
Quoting kodie2006
What's everyone's sell target at on the EURUSD?
1.50 but i would not go short this week.
  • #21,034
  • Aug 17, 2008 8:10pm Aug 17, 2008 8:10pm
Quoting trading801
so majority of the folks here holds a sell feel for this pair ya.. however look at these few hours up all the way.. looks scary ya
Not scary at all actually. It's Sunday in America and the markets on Sundays always fluctuates wildly.
Not all sins are created equal
  • #21,035
  • Aug 17, 2008 8:10pm Aug 17, 2008 8:10pm
Quoting Jay Walker
I got a long order @ 4768.

Will this week be the return of the bulls?
We should see a pull back soon (if not already). Perhaps not a trend reversal, but a move like we've seen cannot be sustained forever. Sellers have to run out sooner or later.
  • #21,036
  • Aug 17, 2008 8:18pm Aug 17, 2008 8:18pm
Quoting steelhead
Our strategy? Warren you have still failed to answer the question of what your real motives are. What are you selling? Its a simple question isnt it? Are you trying to get folks to put there money into managed account by you? Are you selling a service? What is it?


Later
Why do I have to be selling anything here ? I have invested many many hours of my time to try to be helpful here. You know the difficulties that I have encountered here yet I go on.

I am a IB and I have clients. I do not need to sell anything here. I also have no trading for US clients. I am not registered with NFA nor do I need to at this moment. The currency houses that I trade through have accepted my trading credentials.

Why am I different from some other posters here ?

You seem like a fair minded person. You can think what you want however my credentials are such that I have no problems going through the due dillegence needed to work with Canadian clients in my home town.

Whether you accept it or not the CRAP out there is NOT TRUE !!!

Now please can we just focus on EUR/USD and not me.

I am irrelevant and only my knowledge is RELEVANT.

I really hope that this puts it to bed. I have no communication problem with most experienced FX traders here. It seems my issues are with the others who just seem to focus on me more than their Forex trading.

Thank you for your question and that is my last word on this subject.


Bruce
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  • #21,037
  • Aug 17, 2008 8:18pm Aug 17, 2008 8:18pm
Well, it looks like Asia is dumping their dollars they bought last week, so this may have set the tone for the week.

I am going to put a bid for 1/2 my position at 1.4700 and the other 1/2 at 1.4690 with stops at 1.4600.

Good luck all! I expect to see some relief in this pair up to the 1.4850-49 level.
Pippin ain't easy, but it sho is fun!
  • #21,038
  • Aug 17, 2008 8:25pm Aug 17, 2008 8:25pm
lets discuss what will most likely happen when london opens..
  • #21,039
  • Aug 17, 2008 8:30pm Aug 17, 2008 8:30pm
Quoting trading801
lets discuss what will most likely happen when london opens..
Well we know last week Asians started the week off buying dollars and Europe sold them right back, so maybe since Asia is starting off this week selling dollars, maybe Europe will buy them back?

We will have to wait and see!
Pippin ain't easy, but it sho is fun!
  • #21,040
  • Aug 17, 2008 8:33pm Aug 17, 2008 8:33pm
http://www.financialsense.com/fsu/ed...2008/0815.html

I have no doubt about most of this report. Are we in for another conflict to cover for the mess the FED and the Neocons created.

I sure hope not. Maybe that was why we had this INTERVENTION ?

Scary Stuff !


Bruce
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