EURUSD

Yes nice one..First it need to break 2724.. if do so then my first short entry is at 2744... otherwise long from 2658... So lets see which target comes first...

dpp may say hell no..

that would be nice.. back to 1876 by london.. *L*

What's dpp? Gator

daily pivot point

ooh, Thanks man, I though it was something else

Morning all

Hey Driver

just want to say hello to everyone for the start of the week. I wasn't able to do much charting/reading this weekend cause I've got the corvette pulled apart so far that it's turning into a 3-4 day job! what a PITA!!!!!!! i'm still a good 60 pages back to catch up on

I still have an EU short open from 2806 and another @ 2966. UJ long from 85.02 and gu short from 5655.

good luck to all this week. summer is coming to an end and we haven't had any MAJOR news announcements that were "surprising"...

something big should be coming imo...i heir to the short side and see 1876 taken out within a month..

I'm still keeping my eyes on D55's chf numbers but I'm in my trades going the other way atm

edit: and Good morning driver! just saw your post sir

thx 4 the vid

http://www.forexfactory.com/showpost...stcount=281123

shame that it didn't touch 1.3, strange, TL broken.. what can I say...

Morning Mungle

oh well this was add ons.. missed. still got half a load of st trades and a full load of long termers that started as scalps.

hey there driver

Remember, we have Aussie election ahead which may create risk aversion in the market.

These days there are so many different nationalities here, the POM factor is fading. At this point we have many people from Africa joining the circus as Ozzies.
Personally, our family is 4th generation Ozi from Sweden/Italy/France/Spain and Scotland...a 'Mongrel', and proud of it. No POM here mate.

And yes, we eat Kangaroo! Best meat Ive ever tasted, seriously.
Dont worry about them dying off. They're presently running half the Ozzie outback in plague proportions. In the country towns, they are cruising down main street in mobs. They can kick ass too
There used to be a joke about that a long time ago. Well, now its real.

I'm hopeful this election will produce something similar here. We need the change that whatshisname was raving about not that long ago.
"Yes, we damn well can dude"! Bring it on...

BTW - Im short EU @1.28747 and not giving it up just yet.

usdx has already tested and broke through resistance 83.13 currently at 83.06..
eux has tested and broken support. currently just above.. it will not take much to drive us down.. eux is showing what i ment in saying eurx will decouple verses commodities and other pairs. euro is on a slip course that has started to continue since stress test. support at 100.04 currently at 100.01.

won't be as clean cut as this but its something to keep an eye on

Looking for insight.....

When you say it will decouple verses commodities......you mean that whatever affect commoditiy prices had on the Euro before will be null.....for instance - I watch oil and the Euro.....as oil moves up the Euro also moves since oil is priced in US dollars the Euro moves with it to adjust for pricing (or I may be totally wrong but that is what I understand) - so I was just wondering if this correlation that I see.....you are suggesting will be broken.....

Thanks for any response you may have to offer. I hope I am clear as to what I am asking......

Cheers.

Faller.

ASIA DAILY FOREX OUTLOOK - Majors


SINGAPORE (Dow Jones)



http://cdn.forexfactory.com/images/attach/pdf.gif

2010-08-23_ASIA DAILY FOREX OUTLOOK - Majors (01h28 CET) 001.pdf (13.0 KB)




EUR/USD - to consolidate with risks skewed lower. Pair undermined by broad-based USD strength; dovish comments from Deutsche Bundesbank President Weber in interview with Bloomberg TV Friday suggesting ECB monetary policy should remain loose until next year. Data focus: 0730 GMT German August flash PMI, 0800 GMT euro-zone August flash PMI, 1400 GMT euro-zone August flash consumer confidence. EUR/USD daily chart negative-biased as MACD & stochastics bearish, although latter at oversold, suggesting sideways or lower EUR/USD trading near-term. Support at 1.2661 (Friday's low); breach would expose downside to 1.2604 (50% Fibonacci correction of advance from June 7 low of 1.1875 to Aug. 3 high of 1.3333), then 1.2520 (July 13 reaction low) and 1.2478 (July 6 low). Resistance at 1.2771 (hourly chart); breach would expose upside to 1.2832 (Friday's high), then 1.2902 (Thursday's high), 1.2923-1.2932 band (Wednesday's high-Aug. 12 high) and psychological 1.3000.



USD/JPY - to consolidate amid broad-based USD strength (ICE spot dollar index settled up 0.74% Friday at 83.057, last 83.02) as worries persist over health of global economy. USD/JPY supported by higher U.S. Treasury yields, USD demand for import settlements, continuing fears of Japan FX intervention, anticipation of additional easing by BOJ to cap yen's recent strength, receding risk aversion (VIX fear gauge down 3.59% at 25.49) after U.S. stocks pared losses Friday to close mixed (DJIA off 0.56%, Nasdaq up 0.04%). But USD/JPY gains tempered by Japan exporter sales, ultra-loose U.S. monetary policy. Data focus: 1230 GMT July Chicago Fed national activity index. USD/JPY daily chart mixed as MACD & stochastics in bullish mode, but 5-day moving average meandering sideways; inside-day-range pattern completed Friday. Resistance at 85.85-85.91 band (Friday's high-Thursday's high); breach would expose upside to 86.28 (Aug. 16 high), then 86.39 (Aug. 13 high), 86.49 (Aug. 5 high) and 86.93 (July 30 high). Support at 85.17 (Friday's low), then at 84.87 (Thursday's low); breach would target 84.71 (15-year low set Aug. 11) - below which would open way down to psychological round-numbered levels from 84.00 down to 80.00, then 79.70 (record low set April 19, 1995).



GBP/USD - to consolidate. Pair supported by recent slew of upbeat UK data; but topside limited by broad-based USD strength, lingering concerns over negative impact of fiscal tightening on UK economic growth. GBP/USD daily chart still negative-biased as MACD & stochastic bearish, but latter at oversold. Support at 1.5460 (Friday's low); breach would expose downside to 1.5325 (38.2% Fibonacci correction of advance from May 20 low of 1.4230 to Aug. 6 high of 1.6002), then 1.5272 (55-day moving average) and 1.5123 (July 21 reaction low, matching 100-day moving average and 50% correction). Resistance at 1.5597 (Friday's high); breach would expose upside to 1.5672 (Thursday's high), then 1.5688 (Wednesday's high), 1.5707 (Aug. 16 high) and 1.5866 (Aug. 11 high).


EUR/USD - Wellington opened at 1.2707 ... moved towards 1.2714 ... then down to 1.2690 ... now at 1.2711 again ...

Below 1.2735 - 1.2757 might see dips towards 1.2684 or 1.2660 - 1.2637 at first. After all a move up to 1.2771 - 1.2785 or even to 1.2793 - 1.2806 is possible then. Elliott points to 1.2618 again and this would be valid as long as below 1.2840 zone. Cross of above 1.2854 and 1.2865 would cancel the downside projection.

With the beginning of Week No.34 a drift down towards 1.2603 cannot be ruled out...