EURUSD

Forex Focus: Swiss Franc Is Even More Of A Problem Now


By Nicholas Hastings
A DOW JONES NEWSWIRES COLUMN
LONDON (Dow Jones)--The Swiss National Bank is slipping firmly between a rock and a very hard place.



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2010-08-16_Forex Focus - (09h15 CET) 001.pdf (11.1 KB)




bis später

Hi everyone!

short 1,2820 after an hourly inverted hammer with higher vol at the 1,2830 resistance.
1st target is 1,2750 then 1,2640
Swings is still downside oriented so i'm short rallies for now on

Good luck for this week guys

ditto

Thanks bro

Japan news are serious. Macro is not very easy to read in the last week for the euro. Will we forget everything of last week? depends what part? are you talking the very very good numbers in Europe (stronger euro) ? or you are talking about fears on the US (stronger dollar 'cause risk?....).

Stock markets in Europe are reacting bad already because of the the Japan problems and obviously the euro turn around on the 1st resistance it found (the strong intraday 1.283x). Short term (last few days) was heavily bearish and it will take some time to turn around or breath before a new break down. In other word we need more news .... so waiting at least for euro Inflation.

sisse

still valid ) 2725 holds hasnt even touched yet, as long as EU is above these levels we can expect 30xx levels

The chart speaks for itself

To me it's still southern oriented...maybe if it bounces 1,2750 again i'll think about a long...otherwise it needs to clear 1,2910 (previous hourly swing) to think about a long

We'll see

Good luck to you

For me it is recharged. Now rises to 1,2950

Take care mate...swings are clearly down...and with a bad japanese gdp the risk aversion could accelerate...

I have made a post before Asia open predicting buy @ 2756, tp or sell 2787...It has been validated, Asia has respected a common MM pattern. Anyway 2787 is good to sell, and 2750-2756 is good to buy...Stops below 2725...

IMO. It's going to need stronger support from fundamentals. #s alone in the main Ez countries has been v good but the "external" news are limiting a faster recovery.

Greek #s were again bad (that's is not news) and the spread between German Bunds and the "problematic" countries are again widening scarily fast but this time is about the cost of supporting the Irish Banking sector (remember that 2 weeks ago before the climax of the rally to 1.33xx Ireland & Portugal were downgraded again) but in my opinion it has to do a lot with investor running from risky position (because of economic slowdown in the US and Japan) more than new problems in the Euro zone. The debt crisis was not over and as soon as small problems appeared the risky investments suffer the most. We'll see,

sisse

from here up trend can resume. Nice bounce from support, long term trendline and divergence showed up. To many things there and something totally unexpected can happen 200 ma very close.

I see bullish signs but personally i'm still bearish biased, till price jumps over ma.

European Forex Technicals: EUR To Extend Weakness

16 Aug 2010, 08:29

By Francis Bray
A DOW JONES NEWSWIRES COLUMN



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2010-08-16_European Forex Technicals (08h29 CET) EUR To Extend Weakness.pdf (9.0 KB)



Intraday EUR/USD:

Bears remain in control of the short-term after testing the July 21 higher low at 1.2732 Monday. A break below there would extend the setback off the Aug. 6 reaction high at 1.3334, prompting fresh three-week lows and creating scope for the 50% retracement level of the 1.1876/1.3334 rally at 1.2605. Regaining ground above 1.2832 would lift the tone, opening 1.2867 and Friday's high at 1.2906.

Weekly chart EUR/USD trend: Bearish.



Intraday USD/JPY:

Monday's action consolidates beneath Friday's high at 86.39 to halt the recovery off the Aug. 11 15-year low at 84.72. Last week's lower low, higher close candle suggests a significant basing attempt is underway, and keeping the current setback limited to the key short-term pivotal support level at 85.46 intact would lift prospects for a retest of the 86.39 high. Above there would open 86.89 and the 87.00 resistance area. Only a sustained break below 85.46 would question the recovery hopes and bring the focus back onto the 84.72 low.

Weekly chart USD/JPY trend: Bearish.



Intraday GBP/USD:

The dominant bear tone, evident off Friday's high at 1.5680, has extended into Monday's session following the probe into fresh near-term lows below 1.5562. However, with good support lying in the 1.5525 area, there is risk of a short-term base emerging, and a break above 1.5619 would re-open the 1.5680 lower high. A sustained break below 1.5525 would extend the setback off last week's reaction high at 1.5998, creating scope for further weakness towards 1.5445.

Weekly chart GBP/USD trend: Bearish.


bis später

if no turnaround in the euro stocks & us stocks start off with a bad hair day I will probably be eating crow. I have developed a taste for it....

true... though i wouldn't be surprised if they flushed out stops below 27xx .. we're still inside the M15, H1 and H4 down trend channel... and 2730 ish is the bottom on the M15..

That's a good acquired taste that few traders understand. It's the price to buy low and sell high (or the opposite for shorts) so it always looks bad during the early heat stages but after .....

IMO, trading like that makes the difference between a successful serious trader or a amateur gambler failed trader. Best of luck in your position I think these levels are the ones for longs R/R wise and if it goes bad there are always plenty of opportunities in the market.

sisse

Wanna see what others think,
Thursday,friday last week eur/usd overnight early morning till around 10:00 am british time, price move up but rest of day move down.
Maybe same today,Might be short covering before resume downtrend?
Any opinions appreciated.

likewise to you. I am just a scalper, though, y'know, so I provide long term calls purely for infotainment. Actually, I could probably single-handedly maintain the powerful contrarian predictive value that this thread is known for, if I posted as much as I used to....

hmmm ... SL set to +2

back in a consolidation zone... this might be a boring day :S