EURUSD

Ive got some resistance around here if we break 2778 .....2885 is a big level on the weekly chart.

Juz thinking ...

Sky....you could probably go to Vegas and do that actually-though your odds may not be too good.

Trend says we should reach around 1.2785 soon, what do you say?

I need the pivots point and the supports/resistance for today.Can someone post them?

12788 - Bull territory
12767-87 area - strong Bull fence (strong reversal)
12744-50 area - main support
12679-99 area - weak Bear fence (weak reversal)
12678 - Bear territory

More or less how I see it also
I would write 12699-79 though

it's not a problem but....1.2764 is considered to be light weight. Not that easy to break. Just a pesonal opinion. Somehow if buyer increases in a few hours time , you target will be reach.

I would say that the not so easy to break line is 1.2782, but yeah I think our thoughts are pretty similar otherwise. I am pretty sure we have a very few shorters atm considering how the trend is looking and the fundamentals from last weeks closing.

Same numbers still. Any personal insight for today you'd like to share? Thanks for the feedback.

I predict it will fall below 1.2670... anyone has a better number than this?

Except overvalued USD, nope..., Some people are expecting us to hit 1.18 in a couple of weeks but I would rather say that if the inflation keeps rising in the USD we will see a massive sellof on the USD = a lot more negative news to come US wise.

TA we have tls going towards 1.2782 (R1) and then bounce towards 1.2825 with a new resistance level at around 1.2770.

Those are my 2 cents.

PS....Bernake wants our money

london is closed today......thin market till us session

http://www.bloomberg.com/news/2010-0...-s-growth.html

The sell is still very strong

Without London being in the loop there is not much to play with.

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

2010-08-30_ASIA DAILY FOREX OUTLOOK - Majors (01h27 CET) 001.pdf (14.4 KB)

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

SINGAPORE (Dow Jones)


EUR/USD - to trade with risks skewed higher amid improved investor risk sentiment. But EUR/USD gains tempered by lingering concerns about health of some euro-zone economies such as Ireland and Greece as they grapple with austerity measures to resolve fiscal crises. Data focus: 0810 GMT euro-zone August retail PMI, 0900 GMT euro-zone August business & consumer surveys. EUR/USD daily chart mixed as MACD bearish, but stochastics bullish at oversold. Resistance at 1.2778 (Friday'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 1.2676 (Friday's low); breach would target 1.2648 (Thursday's low), then 1.2603 (Wednesday's low), 1.2584 (Tuesday's low) and 1.2520 (July 13 reaction low).


USD/JPY - to trade with bullish bias. Pair underpinned by expectations of further BOJ monetary easing measures to stem yen strength as central bank holding emergency board meeting today starting at 0000 GMT, Gov. Shirakawa to hold press conference at 0530 GMT. USD/JPY also supported by fear of Japanese FX intervention, USD demand for import settlements, higher U.S. Treasury yields, JPY-funded carry trades amid positive risk sentiment (VIX fear gauge down 10.67% at 24.45) as Wall Street posted strong gains Friday (DJIA up 1.65%) on Fed Chairman Bernanke's promise U.S. central bank will do what's needed to support economic recovery, though he stopped short of saying it will act; less-severe-than-forecast revision of U.S. 2Q GDP growth to 1.6% from 2.4% (vs 1.3% expected). But USD/JPY gains tempered by Japan exporter sales. Data focus: 2350 GMT Japan provisional trade statistics for 1st 10 days of August, 1230 GMT U.S. July personal income & spending, 1430 GMT August Texas manufacturing outlook survey, 1730 GMT Fed's Bullard speaks. USD/JPY daily chart positive-biased as MACD & stochastics in bullish mode; bullish parabolic stop-and-reverse signal hit at 85.13 Friday. Resistance at 85.91 (Aug. 19 high); breach would expose upside to 86.39 (Aug. 13 high), then 87.30 (55-day moving average), 88.11 (July 28 reaction high) and 89.15 (July 12 reaction high). Support at 84.90 (hourly chart); breach would expose downside to 84.25 (Friday's low), then 84.04 (Wednesday's low), 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).


GBP/USD - to trade with risks skewed higher; UK markets closed today for holiday. Pair underpinned by positive investor risk sentiment, upwardly revised 1.2% growth in UK 2Q GDP (vs forecast for no change). But GBP/USD gains tempered by lingering concerns over negative impact of fiscal tightening on UK economic growth (UK June budget detailed combined GBP113 billion of spending cuts and tax increases by 2015, which will weigh heavily on private demand). GBP/USD daily chart mixed as MACD bearish, but stochastics bullish at oversold. Resistance at 1.5539 (Friday's high); breach would expose upside to 1.5597 (Thursday's high), then 1.5620 (Aug. 23 high), 1.5672 (Aug. 19 high), 1.5688 (Aug. 18 high) and 1.5707 (Aug. 16 high). Support at 1.5441 (Friday's low); breach would expose downside to 1.5387 (Wednesday's low), then 1.5370 (Tuesday's low), 1.5352 (55-day moving average), 1.5325 (38.2% Fibonacci correction of advance from May 20 low of 1.4230 to Aug. 6 high of 1.6002) and 1.5123 (July 21 reaction low, matching 100-day moving average and 50% correction).


USD/CHF - to consolidate with risks skewed higher. Pair supported by short-CHF carry trades on improved investor risk appetite, below-forecast Swiss August KOF leading indicator (slipped to 2.18 from 2.22 last, vs 2.20 expected), fears of SNB CHF-selling intervention - SNB's Jordan said Sunday in interview with Swiss weekly Sonntagzeitung that central bank watching CHF moves against EUR very closely. Daily chart still negative-biased as 5-day moving average below 15-day and falling; MACD & stochastics bearish, but latter at oversold. Resistance at 1.0304 (Friday's high), then at 1.0320-1.0328 band (Thursday'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). Support at 1.0217 (Thursday's 7-month 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).


AUD/USD - to trade with risks skewed higher. Pair underpinned by AUD demand for long-AUD carry trades on increased investor risk appetite, stronger commodity prices (CRB spot index settled up 3.23 Friday at 267.27). But AUD/USD gains tempered by political uncertainty in Australia. Data focus: 0130 GMT Australia 2Q business indicators. AUD/USD daily chart mixed as MACD bearish, but stochastics bullish at oversold; bullish parabolic stop-and-reverse signal hit at 0.8946 Friday. Resistance at 0.9058 (Aug. 18 high); breach would target 0.9082 (Aug. 17 reaction high), then 0.9166 (Aug. 10 high) and 0.9221 (Aug. 6 reaction high). Support at 0.8916 (hourly chart); breach would expose downside to 0.8842 (Friday's low), then 0.8829 (Thursday's low), 0.8769 (Tuesday's low) and 0.8735 (July 22 low).


;-)

Bank of Japan to hold emergency meeting regarding policy at 0.00 GMT and press conference at 5:30 GMT and NZD waiting for the news..........................

http://www.actionforex.com/markets/p...2010040848154/

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