trading801's Koala Forex Articles and EUR/USD views

in this case I'm using 1 pip more of the higher of the day ... and you for 4817 ?

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forexlive thanks

EUR/USD consolidating in 1.4680/1.4860 range
Written by Jamie Coleman
November 2, 2009 at 13:03 GMT

EUR/USD dipped through uptrend support at 1.4712 earlier in the session but survived a test of recent lows around 1.4680/85 and has since recovered nicely. We’d expect the 1.4860 area to contain rebounds in the near-term.

Disappointing ISM could be the catalyst for a fresh probe of the area of support below 1.4700. A series of weak regional Fed surveys have me looking for a weaker-than-forecast survey. Economists expect 53.0. EUR/USD trades at 1.4773 in early New York trade, supported by a bounce in S&P futures which are up almost 5 points.

I've moved my SL at 4764 ... to protect profit and feel more relax ...

Euro Zone's PMI Manufacturing Reaches the Highest in 21 Mont
This week, European economies are due to release important economic data showing the status of sectors in the economy. Following the massive contraction witnessed in the first quarter; the euro zone and U.K. managed to show improvement after the stimulus packages introduced by central banks and national governments to revive the economy.


Later on this week, PMI services will be released, which will give a better picture about economic sectors at the beginning of the fourth quarter.

The data may give a clue that the economy will expand in the third quarter due to the improvement signaled in all sectors. It reasonable to say, the ECB is reaping the fruits of the wise monetary interventions undertaken since the beginning of the crisis.

Policy makers at the ECB cut the key interest rate to 1% and started purchasing bonds worth 60 billion euros starting from July 6; to revive the economy and support it with liquidity. Besides, they offered to provide further liquidity for banks at the current benchmark to enhance lending and spending.

Trichet and his team will meet this week to set the interest rate and announce if there are any changes in regards to their stimulus package. Analysts expect the rate to remain unchanged and bonds purchase program as well. Recently, there have been talks concerning withdrawing the stimulus, but it seems that this will not occur soon, at least not before the release of the third quarter data, where positive growth figures are anticipated.

The IMF estimates in September, revealed that the 16-mation economy will shrink 4.2% this year relative to 4.8% contraction in July, then grow 0.3% in 2010; while the ECB expects the economy to expand 0.2% next year, after contracting near 4.1% in the current year.

It is clear that global economies are recovering, seen in the upbeat data recently released showing that the worst is over. In China, the manufacturing sector inclined for the seventh consecutive month. As mentioned by some economists, China is the mirror of the world with its large manufacturing sector.

EC Pulse

thanks buddy.. news in half hour !!! hug your trees

I was lookin' the news in comin' for the week ... OMG ...

yes there are many.. and they are all RED...

and of course the NFP mambo jambo

Dow opening in a few minutes too, let see some reactions, but I think they will wait until news as you said.

Think my SL will be touched and will stay flat before news ... and ready to be long or short ...

All we need for a wonderful week of forex !!

all the band of 4 are connected !!

very happy to see all 4 of us here..

seriously without support from you all... i would have quit long time after being treated like dirt!

thanks

hey u posted this while i was making pic above.. glad we feel the same

I'm glad to be here...

i am glad to be here and I learned many things from this thread.

THE TIME IS HERE

pending home sales is 6.1%%%%%%%%

risk seekers may surface and in light of the risk aversion theme, the USD may drop

We have a little gap in 5" but in the 15" & 1h too ... Not necessarily to be filed ... ? If it's around 40 pips ...

U.S. purchasing managers index increase for October much stronger than forecast

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Nov. 2 (Bloomberg) -- U.S. stocks extended gains after the Institute for Supply Management’s gauge of manufacturing topped economists’ estimates, signaling the economic rebound is gaining momentum.