trading801's Koala Forex Articles and EUR/USD views

Even Ultraman will not be able to do much.

Sept. 11 (Bloomberg) -- Japan’s economy unexpectedly grew less than initially estimated in the second quarter as companies cut spending and stockpiles fell.

Latest Article 10 Sep 09

EUR/USD bounces off 1.4600

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from forexlive.com

"
EURUSD has popped higher thru 1.4600 and up towards1.4615 on the back of the Chinese economic data. There is talk of selling interest at 1.4620 and stops above 1.4650.
No cues via EURJPY, which has drifted off a touch with USDJPY lower.


By Sam Diakou || September 11, 2009 at 03:02 GMT "

and we are now at 1.4620 important level

from forexlive !

By Gerry Davies || September 11, 2009 at 06:01 GMT
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US Treasury Emissary in Beijing David Dollar has said “China has a huge amount of foreign reserves and it makes a lot of sense for it to diversify” adding “I think it is healthy to have a variety of different reserve-type currencies. We welcome the internationalization of the renmimbi.”
You can see the headlines now “Dollar sinks dollar” “Dollar downs dollar” Blimey, headline writer’s delight.
Euro bulls presently trying to chew through aforementioned sovereign sell interest at 1.4620/30 (1.4627 high so far)
Talk of stops gathering just north of 1.4645/50 resistance.

Opening of early european markets pushed it sub 1.46 for now.

London opening soon.

Latest Article 10 Sep 09

EUR/USD bounces off 1.4600

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More from forexlive

EUR/USD seeing trade confined to narrow range, USD/JPY stops triggered

Written by Gerry Davies
September 11, 2009 at 07:32 GMT

EUR/USD sits at 1.4605, exactly where it was when I started my day. Trading is being confined to a narrow range so far. The market still seems to have a general downer on the dollar, but aforementioned sovereign sell interest (with China’s name prominent) up at 1.4620/30 has so far proven a durable barrier to the upside.
On the otherhand, USD buy interest is running into renewed sales quickly under 1.4600, result something of an impasse.
Elsewhere, aforementioned sell stops below 91.00 in USD/JPY have been triggered. We’ve been as low as 90.79 so far.

From forexlive.

1.4620.

Italian industrial output stronger than expected

Written by Gerry Davies
September 11, 2009 at 08:19 GMT

Italian industrial production for July has come in at +1.0% m/m, appreciably stronger than the median forecast of +0.4%. A further plus is that June’s data has been upwardly revised, to -0.6% from initial -1.2%.
Work day adjusted industry output meanwhile fell -18.2% y/y from -21.6% in June, better than the median forecast of -21.0%.
Not that the data has helped the euro any. EUR/USD has slipped back to 1.4590 at writing.
Central bank activity (China in EUR/USD selling up at 1.4620/30 and BIS in USD/JPY buying around 90.70) will be prompting some USD shorts to cover.

Latest Article 10 Sep 09

EUR/USD bounces off 1.4600

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thank you forexlive !

European Morning Wrap Up; not alot of change, market in consolidation mode

Written by Gerry Davies
September 11, 2009 at 10:31 GMT

EUR/USD at 1.4595 from early 1.4605. Early rally floundered at session high 1.4627 amid talk of sovereign selling interest. Chnia was a notable seller up there. That prompted a bout of profit taking on USD shorts , which to be honest hasn’t ever looked like putting to much pressure on EUR/USD.

us market hitting soon .. becareful of spikes

EUR/USD bulls will love this .. thanks forexlive:

Eurogroup’s Juncker: Current euro rate will not hamper recovery

By Jamie Coleman || September 11, 2009 at 14:51 GMT
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Head of the Eurogroup of fiance ministers Juncker says that he does not think the present forex rate of the euro will hamper the economic recovery.
This is a surprisingly relaxed view with EUR/USD at its highest levels since the Fed announced its QE intentions last December. If politicians aren’t concerned, you can be sure the ECB is not alarmed. Intervention is not even a thought, it would appear.
This should remove one worry for EUR/USD bulls.
We trade now at 1.4606.

10 yrs treasury yield is down. suggesting more demand.

Latest Article 11 Sep 09
EUR/USD struggles at 1.4600

"Today's review will be special.

I am not doing a daily chart for this currency pair.

For the past hours, the EUR/USD has been engaged in a tug o war........"

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thank you Forexlive.

Commodities giving some ground ahead of weekend

Written by Jamie Coleman
September 11, 2009 at 15:51 GMT

Not sure if we are seeing anything more but the pre-weekend square-up, but US crude futures have turned lower on the day slipping more than $2 from session highs at 72.90. Gold has dipped back to $1005 after topping out earlier at $1011. The CRB is now flat.
US equities are in slightly negative territory and EUR/USD is dipping a bit, now at 1.4587. Look for 1.4555/60 to provide support on dips near-term.

london closed. vol will be much lower.

Latest Article 11 Sep 09
EUR/USD struggles at 1.4600

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pivot hit !!

from forexlive

Commodity pullback helping undermine EUR rally

Written by Jamie Coleman
September 11, 2009 at 16:37 GMT

EUR/USD continues to pullback as the dip i commodities deepens. Oli has fallen nearly $3 dollars from intraday highs and gold has pullback a tad, now at $1003.50.
EUR/USD dipped briefly to the 1.4555 area as the Coast Guard “shots fired” on the Potomac story made the rounds. A break back below that area could see the 1.4500 area retested. The deeper we pullback from 1.4615 ( the 61.8% Fibo discussed earlier), the more likely medium-term specs are to book profits on longs. We trade now at 1.4562.

pivot bounced

anyone has opinion where will it end today ?

Latest Article 11 Sep 09
EUR/USD struggles at 1.4600

Click on link above for full article

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Sept. 11 (Bloomberg) -- Confidence among U.S. consumers rose more than forecast in September as the pace of job losses slowed and the economy showed signs of pulling out of the recession.

I think, pass the price of 1.45 hopes to improve economic process.

And cross price 1.47 end of the recession.

And 1.46 level between fear and hope.

Market and 11th Anniversary September showed that between the ends of the economic crisis and hope to improve it doubts there.

Today almost good and positive news was announced and if the next week is the news so, we waiting for the price cross of the 1.47.