EURUSD - charts update

Buying again in 1,4880-85 - Looking for a new top in 1,4920 or 1,4940

closing in 1,4910-15

Last top in 1,4920-30?

But then again EUR/USD have the same pattern and only one can win the fight!

Trading range before US numbers: 1,4890-1,4915

USD/JPY, is giving USD weak signals (breaking down) – this should make EUR/USD go up to 1,4985-90…

12:38 GMT
Economic data (US,JUL): * Initial Jobless Claims out at 450K vs. 435K expected vs. 455K prior read. * Continuing Claims out at 3417K vs. 3310K expected vs. 3311K prior read.

Should also support buying in EUR/USD

What if 1,4800 is the BOTTOM?

[US INITIAL JOBLESS CLAIMS] totaled 450k in the week ended August 9, vs a prior 460k (revised from 455k), about 20k higher than expected, taking the 4-week average to 440,500k vs a prior 421,000k. Continuing claims in the week ended August 2 amounted to 3.417 mln vs a prior 3.303 mln (revised from 3.311 mln). The latest data leave the short-term trend in both series strongly upward, showing the US labor market still softening. The insured unemployed rate rose to 2.6% from a prior 2.5%, suggesting another rise in the jobless rate in the household survey for August.

That weekly/monthly support looks very weak now. There is a good chance it wont hold for long and could send the pair towards 1.4500. Just a thought.

Is it not dangerous to make these small moves? Never know when the ranging might end and the big moves might start.

Trading plan GBP/USD before close....

Tks

Sorry, could you please clarify if you are referring to double top in gbpusd? Did you enter long or short before closing?

Here are the bigpicture, where you can see that 1,4600-1,4610 should be support this week.

Economic Data: AUG RIGHTMOVE HOUSE PRICES MOM: -2.3% V -1.8% PRIOR; YOY: -4.8% V -2.0% PRIOR
Numbers sending GBP/USD down - taking eur/usd with it down

TRADING IS SIMPLE, TRY TO SIMPLIFY THE CHARTS,ARE U CURRENTLY LONG OR SHUT, FOR ME I THINKK THE LONGG IS TEMPORAL,THE TREND IS STILL SHORT FOR USD PAIRS i.e EURUSD,GBPUSD

because I understand that the longer term - general trend eur/usd is north

agreed long term north on paper,but be sure its changing south till maybe 2009 january.From the economic situation in the Euro zone, the fall in oil price demand and the gradual return in confidence on the dollar.

I trade the dailies

this is my post of 12 july 2008:

but looking from the EU perspestive (Poland - newbee in EU) I can notice that everyday more people are buying US products or products from US.
Look at the cars for instance, the TOYOTA dealers have cut the prices by 15% last week here in Poland.
Look at the real estate - selling a 80 sqm flat in Cracow (southern Poland) one can aford to buy a house in US.
Electronics are much cheaper than in EU.

Last data on trade balance show that US becomes a very interesting market. It of course needs time and this will not be next week, but so strong euro will improove US economy.

Polish currency (zloty) last week - for the first time in history - had been exchanged at one of polish airports for tourists for more than 50 cents.

Poland is rather a small market, rather new on the EU stage.
But if the things continue like this the production of anything here will be much more expensive than in the US.

Good luck everybody!
-from Cracow (Poland).


So also me, awaits the change, but for today the main trend is north till the day whnen it breaks the trend line on week chart.