EURUSD

While I remember, and you guys are talking Ewave.

Here is a nice indi that may, or may not help to assess things in that way.

Hope it helps.

Well here are some more potentially unreliable lines to ponder .

Excellent analysis. I'm also expecting bulls to try and force a higher high for the week by retesting the weekly pivot. 12763-79 area should be a very solid bull fence though, so I find it likely that the price will reverse somewhere around this area causing straight downward movement with 12665 as immediate tp and/or more ranging/consolidation. Should 12780 be clearly breached it will mean bull movement. Now we just have to wait and see, market will tell.

superman

Hi,

Anybody seeing an Head and Shoulders on 4Hr charts or is it just me. ??

LOL I just saw that guy on tv like 10min ago....

Good morning all

Morning everyone as well.

How do you trade then?

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

2010-08-27_ASIA DAILY FOREX OUTLOOK - Majors.pdf (11.1 KB)

ASIA DAILY FOREX OUTLOOK - Majors
27 Aug 2010, 01:35

SINGAPORE (Dow Jones)




EUR/USD - to consolidate. EUR/USD supported by weak USD sentiment, stronger-than-expected German Gfk consumer-sentiment index (rose to 4.1 for September from 4.0 in August), well-received Irish government debt auction. But EUR/USD topside limited by higher investor risk aversion, worries over negative effects of austerity measures on economies of some euro-zone nations, positions adjustment before weekend. Data focus: German August provisional CPI, 0730 GMT July EuroCOIN indicator of euro area economic activity. EUR/USD daily chart mixed as MACD bearish, but stochastics bullish at oversold. Resistance at 1.2764 (yesterday's high); breach would expose upside to 1.2832 (Aug. 20 high), then 1.2902 (Aug. 19 high), 1.2923 (Aug. 18 high) and psychological 1.3000. Support at 1.2648 (yesterday's low), then at 1.2603 (Wednesday's low) and 1.2584 (Tuesday'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).


USD/JPY - to consolidate with risks skewed lower amid broad-based USD weakness (ICE spot dollar index last 82.916 vs Wednesday's 83.261 settlement) as markets await 1230 GMT U.S. 2Q GDP (2nd estimate) as well as Federal Reserve Chairman Bernanke's speech at Jackson Hole economic policy symposium for clues regarding further stimulus or quantitative easing measures. USD/JPY undermined by lower U.S. Treasury yields, ultra-loose U.S. monetary policy, Japan exporter sales, unwinding of JPY-funded carry trades on higher investor risk aversion (CBOE volatility index VIX rose 2.51% to 27.37), Wall Street's losses (DJIA off 0.74%, Nasdaq off 1.07%) despite bigger-than-expected 31,000 decline in latest U.S. weekly jobless claims (vs forecast for 10,000 drop); positions adjustment before weekend. But USD/JPY losses tempered by USD demand for import settlements, possibility of Japan FX intervention, BOJ monetary easing to stem yen strength - though some believe BOJ can't move this week because Gov. Shirakawa attending annual Jackson Hole Economic Symposium. Data focus: 2330 GMT Japan July household spending, July labor force survey, July Nation CPI, August Tokyo CPI, 1355 GMT University of Michigan survey of consumers (final). USD/JPY daily chart mixed as MACD in bearish mode, 5-day moving average below 15-day and falling; but stochastics bullish near oversold. Support at 84.31 (yesterday's low); breach would expose downside to 84.04 (Wednesday's low), then 83.58 (Tuesday's 15-year low), psychological round-numbered levels from 83.00 down to 80.00, and 79.70 (record low set April 19, 1995). Resistance at 84.90 (yesterday's high); breach would expose upside to 85.20 (Tuesday's high), then 85.68 (Monday's high), 85.85-85.91 band (Aug. 20 high-Aug. 19 high), 86.28 (Aug. 16 high) and 86.39 (Aug. 13 high).


GBP/USD - to consolidate. GBP/USD supported by broad-based USD weakness, strong CBI August Distributive Trades Survey (retail sales balance rose to 3-year high of +35 from +33 in July). But GBP/USD gains tempered by lingering concerns over negative impact of fiscal tightening on UK economic growth, positions adjustment before weekend. Data focus: 0830 GMT UK 2Q revised GDP, 2Q business investment provisional results, 1000 GMT UK July Land Registry house price index. GBP/USD daily chart mixed as MACD bearish, but stochastics bullish at oversold. Support at 1.5505 (hourly chart); breach would expose downside to 1.5464 (yesterday's low), then 1.5387 (Wednesday's low), 1.5370 (Tuesday's low), 1.5325 (38.2% Fibonacci correction of advance from May 20 low of 1.4230 to Aug. 6 high of 1.6002; near 55-day moving average) and 1.5123 (July 21 reaction low, matching 100-day moving average and 50% correction). Resistance at 1.5597 (yesterday's high); breach would target 1.5620 (Monday's high), then 1.5672 (Aug. 19 high), 1.5688 (Aug. 18 high) and 1.5707 (Aug. 16 high).


USD/CHF - to consolidate with bearish bias after hitting 7-month low of 1.0217 yesterday. Pair undermined by broadly weak USD undertone, unwinding of short-CHF carry trades on higher risk aversion. But USD/CHF losses tempered by fears of SNB CHF-selling intervention as EUR/CHF cross stays weak; positions adjustment before weekend. Data focus: 0930 GMT Swiss August KOF economic barometer. Daily chart negative-biased as MACD & stochastics bearish; 5-day moving average below 15-day and falling. Support at 1.0217 (yesterday's low); breach would expose downside to 1.0127 (Jan. 11 reaction low), then parity, 0.9958 (Dec. 3, 2009 low) and 0.9914 (Nov. 26, 2009 trough). Resistance at 1.0320-1.0328 band (yesterday's high-Wednesday's high); breach would expose upside to 1.0452 (Tuesday's high), then 1.0465 (Aug. 19 high), 1.0534 (Aug. 16 high) and 1.0551 (Aug. 13 high).


AUD/USD - to consolidate. Pair underpinned by Aussie-U.S. yield gap, weak USD sentiment, firmer commodity prices (CRB spot index settled up 2.24 yesterday at 264.04). But AUD/USD gains tempered by heightened investor risk aversion, political uncertainty in Australia, positions adjustment before weekend. AUD/USD daily chart mixed as MACD bearish, but stochastics turning bullish at oversold. Support at 0.8829 (yesterday's low), then at 0.8769 (Tuesday's low); breach would target 0.8735 (July 22 low), then 0.8643 (50% Fibonacci retracement of advance from May 25 low of 0.8065 to Aug. 6 high of 0.9221) and 0.8631 (July 19 reaction low). Resistance at 0.8916 (yesterday's high); breach would expose upside to 0.8982 (Monday's high), then 0.9018 (Aug. 19 high), 0.9058 (Aug. 18 high) and 0.9082 (Aug. 17 high).


;-)

if i delete the spike from my H4 chart, maybe,but if you can post a chart it will be better.

I just draw a TL on m15 (more simple in my case), and waiting for a proper break of this ATL.
Good luck to all.

Looks like 1.2730 is a brick wall...today is the day to make move greater than ADR.We have 2 events to boost move, but which direction ? I would favor longs, but possible big bearish flag formed

LOL, I saw this guy too, this morning - he passed me by with the speed of light.

EUR/USD – 1.2718

Most recent candlesticks pattern : N/A
Trend : Down

Tenkan-Sen level :1.2713
Kijun-Sen level :1.2715
Ichimoku cloud top :1.2675
Ichimoku cloud bottom :1.2657

Original strategy :

Bought at 1.2695, Target: 1.2800, Stop: 1.2645

New strategy :

Hold long entered at 1.2695, Target: 1.2800, Stop: 1.2665

Despite yesterday’s rise to 1.2765, the subsequent retreat from there suggests caution on our long position entered at 1.2695 and minor support at 1.2666 needs to hold to retain bullishness for the rise from 1.2588 temporary low to bring a stronger retracement of recent decline. Above said resistance would extend gain to 1.2795-00 (61.8% Fibonacci retracement of 1.2923 to 1.2588) but reckon resistance at 1.2833 would hold from here.

In view of the above analysis, we are holding on to our long position. Only below the Ichimoku cloud bottom (now at 1.2657) would signal top has been formed and risk weakness to 1.2608, below would bring resumption of decline for retest of 1.2588.

from http://www.actionforex.com/trading-s...0100827121014/

I'm short right now.H&S completed already

this basically looks up to me, I am long from 94 and added a tiny bit at 23 which I am going to take off again at 32, I got my stop at 09 for the moment. It's very unclear though on the smaller tf's at the moment, let's hope London opening does something about that.

No, it isn't. After breaking neckline and test(not allways neckline is tested) move should be sharp. It's sitting on the line and SHS probability is droping, ofcourse you could be right. I'm not playing that.
Look at daily dollar index, and tell me what do you see
http://www.forexpros.com/quotes/us-d...advanced-chart

I am not really happy with my Frankie experience this evening. It has been decidedly sub-par. I go to alot of trouble, put on the appropriate evening wear and stay up past my bedtime and for this I expect to be rewarded with some volatile, tradeable price action from which I can extract a healthy profit. I sincerely hope to see a marked improvement in the future.

Does accessorizing ever help?

what time frame?