EURUSD

the lower wall of the wedge has been extended. connect to that lowest spike and you will see it has transformed into a downwards channel. i think were most likely going to slowly range downwards until us session as that is when we will probably see the interpration of the stimulus plan (the correlation to the us stock market). Also, as any downwards channel goes, a break to the upside will eventually occur. The thing is, i dont see too much bull power tonight. Conclusion, im going to sleep until us session as for the moment it doesnt seem as any real move will materialize. Careful pippin all...until next time

I'm just re-entered on this newest 5m CS... will lock as soon possible. and I do see resistance is stronger today....

p.s:- main bias is DOWN....

morning ... that reminds me i need coffee

Glad I could help.

Looks like you've got a better way already if you pulled in over 700 pips today. How the heck did you do that?

Do i prefer the long in euro? Need help

Reg. #59889

The support/resistance at 1.3060 really worked well. Thanks to your post I was able to exit my trade in a good positve way +33pip on the short side.

this daily support1 pivot at 3059 is a bugger to break.

longed the dollar on 6 pairs. cut the slow movers (mules) let the fast movers run (horses) no real secret..

Unfortunately I jumped in with another short too soon at 3053. sholda waited for the retracement. darnitalltoheck.

i see.

The latest update on [SWEDISH CONSUMER and BUSINESS CONFIDENCE] was better than generally expected, mirroring trends seen in some other EU surveys more recently. [CONSUMER CONFIDENCE] improved to -17.5 in Jan, from -23.4 in Dec (nr 15-year lows), better than consensus ests (-24.0) - aggressive rate cuts and lower petrol prices clearly helping. [MANUF SENTIMENT] for Q4 slumped to -34, from -19 in Q3, slightly better than the -35 f/c. Reflecting the better consumer outcome, the overall [ECONOMIC TENDENCY] measure ticked higher to 71.7, from 69.6, also better than f/c (67.7). Consumers' inflation expectations again fell sharply, with the 12-mth expected CPI falling to just 0.9% in Jan, from 1.4% in Dec, mirroring trends in the Prospera survey released yest. Although a little better than expected, the data are unlikely to alter mkt views of another Riksbank rate cut in Feb.

[EU BOURSES] are not expected to derive much, if any support from the latest Wall St rally, Asian stock market gains or a sharp catch-up advance on the Hang Seng and other regional indices that have been closed for Chinese New Year. Indeed, the main futures point to a bit of consolidation off the open (mark downs of around 0.5% indicated) following yest's strong session that saw the FTSE rally 2.4%, while the Dax and Cac-40 posted even more impressive 4%+ advances. However, equity sentiment should be underpinned by the latest developments in the US where new Pres Obama's additional $800-900 bn stimulus package has been given the green light by the House of Reps, while details on the 'bad bank' are also reportedly moving forward. However, there is more bad corporate news to digest with Sony confirming bad results, while Toshiba, Royal Dutch Shell and Banco Sabadell disappointed as well.

I'm on short.... plus news is coming and German in bad luck right now!!

[RUSSIAN GOLD and FX RESERVES] have dipped bringing the amount to Usd 386.5bn for the week of Jan 23 vs the previous week's amount of Usd 396.2bn. The drop is seen coming from the amount of reserves spent on currency interventions to support the [ROUBLE] on (Jan 19). Note that the week of (Jan 16) posted the 2nd biggest decline on record (Usd -30.3bn). Despite a smaller drop this time round, falling reserves will be putting the economy under strain, especially as growth starts to slow. Since 8 August reserves have fallen over 35.0% as a result of intervention carried out by the CBR to help prop up the economy whilst also accommodating for the sharp decline in [OIL] prices. The Rouble is currently quoted at 39.64 vs the Eur-Usd basket, after hitting a historic low of 39.76 earlier.

That's harsh language pilgrim.

There goes new low. I'm BE to the good...

p.s:- noticed that dollar index makes new high as well and euro is no where near a bounce yet...

Is 13060 finally resistance since it was broken to the downside? Watching and waiting for confirmation.

whatsa harsh language?

[EUR/USD] has made fresh lows, with ACB sales noted and stops tripped below 1.3045. More are said to be in place through 1.3040, the low so far, and on a 1.3000 break. Post FOMC, attention is turning to EU recession watch, with economic sentiment data to come, and particularly its perceived weakest economies. Spain Nov housing permits data came in at a shocking -8.5% m/m and -61.4% y/y earlier. The headline, last at 1.4055/60, fairly smartly off lows amid talk of that ACB playing/jobbing both sides of the market.