EURUSD

Forexlive.com states that Cititechs have taken out long USD in the EUR and CAD pairs. Be careful. At least in the short term with a scalping trading method.

update for anyone who cares haha

3 wave structure till daily hulls turns green.

Placing fes on it gives us 2500 , 2200 then 1.1950... then 1.1800 then ..and if this is a massive wave 3 into the 261.8 @ 1.1370

Selling all rallies till that hulls turns green on daily ....

1.2750 is key right now on daily charts

it could be

8H Timeframe.

Anticipating more shorts on the way w/ 1.24 being a reversal target.

I'm a little conservative

I'm quite sure of the .2500 but not the .2200. Its a wait and see game. But I'll probably be taking profit at .2500. I hope we reach a 2200 at some point. Then I can turn off my pc and enjoy the month haha

Its all in the R:R hehe

I really just posted that chart for the shock value...

However there is also 3 waves in dj right now , dxd , ing , eu , gu and a whole host of other charts. We may be coming out of the end of the congestion we have been in all summer and in for a trend for Spet. DJ breaks fat finger may low then we could see new low for 2010

now may be 1 is finished look for 2 to the downside to go long you need to know action

SL will depend on how you think the market is behaving. But we've had some huge swings this year (big spikes and drops that occur very quickly.) So when that happens you either need to wait for the market to calm down, or you can try placing a trade with a very large SL (and consider using a smaller position size too.)

Remember, you can always add to your position if price moves in your favor (and you can even keep the same total risk by tightening your SL when you add to your position.) But if price moves against you, you'll be glad you took the smaller position because you won't be incurring such a big loss (often you can even wait a bit and price will move back in your favor, or at least enough to minimize the loss.)

sl 2750 tp 1900

D0W also has to break 9650-9700 Where we got the head fake last time. Do you think Bernanke may say something this week to suggest more QE measures and hurt the USD by more stock market weakness like when we saw Existing Home Sales actually hurt the USD because the number was so bad. Overall I still think we are going down with the EUR/USD. However, with the market worrying about further Quantitative Easing from the FED I think that it will be choppy.

A bounce here and I'll be waiting to add another short...otherwise I'll add upon resumption with pullback.

usd/cad may be worth a peek. if you think oil is gonna drop..uc is near a lower tl.. just observing. do your own research

I shorted the uc earlier today (just before NY open) at 1.0633. Closed it for a quick 50 pips. I'm thinking of shorting again if we get under 1.0583...just observing. do your own research.

im long off the tl

i have buy orders just above and below 1.04, doubt they get triggered.....

I may regret it later...but I'm skipping this one.....

Just to clarify...Scalping UC shorts. I do have 3 open UC longs and 3 short GUs. I'll post a 15m UC chart in the appropriare thread. Your comments are welcomed.

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

2010-08-25_ASIA DAILY FOREX OUTLOOK - Majors.pdf (11.2 KB)

ASIA DAILY FOREX OUTLOOK - Majors
25 Aug 2010, 01:31

SINGAPORE (Dow Jones)

EUR/USD - to consolidate with bearish bias. Pair undermined by negative risk sentiment, flows to safe-haven USD (ICE spot USD index last 83.312 vs Monday's 83.123 settlement), S&P's downgrade of Ireland's long-term sovereign credit rating to AA- from AA, Moody's warning it could downgrade Spain's credit rating next month, worries over negative effects of austerity measures on economies of some euro-zone nations. But EUR sentiment soothed by stronger-than-expected 2.5 % rise in euro-zone June new industrial orders (vs +1.5% forecast). EUR/USD losses also tempered by profit-taking on euro-shorts. Data focus: 0800 GMT German August Ifo business climate index. 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 1.2584 (yesterday's low); breach would expose downside to 1.2520 (July 13 reaction low), then 1.2478 (July 6 low) and 1.2432 (61.8% Fibonacci correction of advance from June 7 low of 1.1875 to Aug. 6 high of 1.3333). Resistance at 1.2718 (yesterday's high); breach would temper near-term negative outlook, targeting 1.2731 (Monday's high), then 1.2832 (Friday's high), 1.2902 (Thursday's high), 1.2923 (Aug. 18 high) and psychological 1.3000.


USD/JPY - to consolidate after hitting fresh 15-year low of 83.58 on EBS yesterday. Pair undermined by unwinding of JPY-funded carry trades amid inflamed risk aversion (VIX fear gauge rose 7.01% to 27.46), sharp Wall Street falls yesterday (DJIA down 1.32%, Nasdaq down 1.66%) as 27.2% plunge in U.S. existing home sales to 15-year low in July (vs forecast for 14.3% decline), drop in Richmond Fed manufacturing index to 11 in August from 16 in July added to anxiety about global economic outlook. USD/JPY also undermined by Japan exporter sales, lower U.S. Treasury yields, speculation Federal Reserve may introduce another round of quantitative easing after disastrous U.S. housing data. But USD/JPY downside limited by USD demand for import settlements, lingering fears of Japan FX intervention, profit-taking on USD shorts; Nikkei newspaper report BOJ considering additional easing steps to pre-empt adverse effects from strong yen. Data focus: 2350 GMT Japan July corporate service price index, July provisional trade statistics, 1230 GMT U.S. July durable goods orders, 1400 GMT U.S. July new home sales. USD/JPY daily chart still negative-biased as MACD & stochastics in bearish mode. Resistance at 84.71 (previous base set Aug. 11); breach would expose upside to 85.20 (yesterday's high), then 85.68 (Monday's high), 85.85-85.91 band (Friday's high-Thursday's high), 86.28 (Aug. 16 high) and 86.39 (Aug. 13 high). Support at 83.58 (yesterday's low); breach would expose downside to psychological round-numbered levels from 83.00 down to 80.00, then 79.70 (record low set April 19, 1995).


GBP/USD - to consolidate with bearish bias. Pair undermined by heightened investor risk aversion, BOE's Weale warning UK faces real risk of second recession, lingering concerns over negative impact of fiscal tightening on UK economic growth. But GBP/USD losses tempered by profit-taking on GBP-shorts. GBP/USD daily chart negative-biased as MACD & stochastics bearish, although latter at oversold, suggesting sideways or lower GBP/USD trading near-term. Support at 1.5370 (yesterday'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 1.5304 (55-day moving average) and 1.5123 (July 21 reaction low, matching 100-day moving average and 50% correction). Resistance at 1.5842 (hourly chart), then at 1.5513 (yesterday's high); breach would temper near-term negative outlook, exposing upside to 1.5620 (Monday's high), then 1.5672 (Thursday's high), 1.5688 (Aug. 18 high) and 1.5707 (Aug. 16 high).

;-)

bis später

been bearish for some time now, mainly since the break of that 4H and daily TL. another short got triggered today 2700. Will hold these until I decide to pull the plug. hoping to see a clear break of that 50% fib