EURUSD

I think with the holiday and the low volume it could drift either way. I'm long but wont hold anything past tonight until we get some more direction tomorrow

thats good for the dollar too, so why not USD too...

Daily Market Scenario & Strategy - Monday, January 18, 2010 (Setup -- Rolling 24-hour rates)



EUR-USD


Intraday setup + scenario:

Elliott : flat correction down 1.4287 (below wave down pattern from 1.4579 towards 1.4264 Target + 1.4238 Channel area)


EUR-USD


1.4379* Market looks set to visit further lower territory down towards 1.5353 - 1.4335 at first or below that to around 1.4316 - 1.4307 area in case of an extention. Its corrective attempts should fail near 1.4445 - 1.4458 limits. Otherwise it could test towards 1.4470 - 1.4481 or possibly even cross beyond 1.4497 ahead of 1.4510 - 1.4528 in case of an extention. Stop levels above 1.4583 zone ...



Warning: Imminent end of bearish move / Fin de tendance baissière imminente / Anstehendes Ende der Baisse-Tendenz

Warning: -0-

Warning: -0-


EUR/USD:

Open (Wellington) Interbank Mid-Price was at 1.4379*
Highest Interbank Mid-Price was at 1.4395
Lowest Interbank Mid-Price was at 1.4335 until now

Source: REUTERS Desk

Exactly, nothing is going on today. US Markets are closed for

Martin Luther King day.

10 pairs on my screen nothing really moving, no reason to take

any trades so far.

WORLD FOREX: Greece Weighs on Euro; Pound Rises

18 Jan 2010, 11:30 CET


By Nicholas Hastings
Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--Greece's debt problems continued to weigh on the euro in Europe Monday, leaving the dollar mixed and the pound higher.

There was little sign of any resolution to the country's budgetary problems over the weekend and the market is now looking at a meeting of euro-zone finance ministers for any comment on the issue.

Apart from fear that Greece will default on its debt, there is concern that other euro-zone members could now face further credit rating downgrades.

Elsewhere, however, there are signs of improving market sentiment even though last Friday's University of Michigan consumer confidence sentiment showed a much smaller than expected improvement.

At the time, the data undermined market confidence in the recovery and led equity markets lower.

However, a slew of fourth-quarter earnings from U.S. banks as well as major data releases from China later this week could turn this slumping sentiment around.

"Bank earnings will be a key focus, with Citigroup, Morgan Stanley, Bank of America, Wells Fargo and Goldman Sachs all set to report this week. Judging by the lackluster reaction to stronger-than-forecast earnings from Intel and JP Morgan Chase (last week), markets may be looking for something more to drive them forward," said Mitul Kotecha, head of global foreign exchange strategy with Calyon in Hong Kong.

Hopes for the global recovery could also be lifted by Chinese data, which is forecast to show continued strong growth as well as a possible rise in inflation.

Kotecha suggested this could well lead to a rise in risk appetite later in the week.

"Although debt concerns are unlikely to dissipate quickly, especially given Greece's inability to convince markets of its plans to cut its burgeoning budget deficit, the 'risk on' tone is likely to have a stronger hand later in the week, driven in large part by strong Chinese data," Kotecha added.

The pound got a boost from news that U.K. house price increases are starting to accelerate. According to the latest Rightmove survey, prices rose by 4.1% on the year this month, the largest increase in 12 months.

Expectations that Kraft will raise its bid for Cadbury as well as news that France's GDF Suez has made a takeover approach to U.K. International Power have encouraged hopes of sterling-friendly merger and acquisition flows as well.

See sterling's rise against the dollar

http://www.dowjoneswebservices.com/chart/view/3285

By 1030 GMT, the dollar was up at Y90.92 from Y90.82 late Friday in New York, according to EBS.

The euro was up a little at $1.4381 from $1.4376 and up at Y130.80 from Y130.54.

The dollar was also down at CHF1.0259 from CHF1.0269, while the pound rose to $1.6367 from $1.6255.




Quelle:
Dow Jones Newswires

January 18, 2010 05:30 ET (10:30 GMT)

good to see that neither of my 2 lines had been broken and we have been in a nice small tight channel 4365-4390 my sma (24) on the 1hr is as flat as it can get, which is great fro me waiting for a break out some time today or tonight. Will put my alarms in place and chill. Take it easy and good luck.
The Cat

too boaring.

Just trial attemp to attach chart. http://photos.sakhalin.name/?photo=172878

EDIT: Can any body see the chart?

Bullish flag on M15

no

Thanks mate.
seems everything is blocked on this PC...

Maybe now?
http://i.sakh.name/b/f/b/fb031086af4...ceecc2185a.jpg

EDIT: OK!!! so nice... I can see it too

u see it bullish cause u went long?)
There is no action at all

Well price is below 200 and 100 MA's in 5M and 15M, two bearish candles in a role in H4 and a pretty good upper trndline resistance. Waiting for price to brake 4365 level to see more downside action testing 4335 area.
Good luck mates!

Bo bull no bear doing well today, price with a narrow range . still waiting long to work at least near 1.4444 ( over 1.4424) before it go for 1.43.
perhaps it waited for me to post ,price now 1.4376 ? funny.

fontu

I guess u made it now nice 1

Rarely trade what I think but I do trade what is given. FLAG IS THERE whether work or not, I DO NOT know. (by the way is supposed to be that way, flag is in consolidation process)
Cheers.

Not today probably.. I think we going to watch 10-20 pip channel all day

long.

May be but if it do like this then will not forget to break bottom in near future . bull failure is bear only.
fontu

time becoming short.may be next break up at 1.4380 level to start/try.

No, I mean for different reason. Markets are closed in USA today,

so either bulls nor bears can really move one way or the other without

other currency activity and taking bets not knowing what might come to play for

US Markets tomorrow. Sideways action more likely.

Thanks again.

EDIT: Just quick question if you do not mind Cat. If i delete the image from the server where it had been downloaded to, will it disapear from this thread too?

Markets are closed today - I'd rather stay out of market today - theres no reason to predict unpredictable