EURUSD

Respect-for-the-Aged Day. Arrrgh, what be that? Ye all know it be Talk Like a Pirate Day, don't ye?! Now watch your booty!

ASIA DAILY FOREX OUTLOOK - Majors
20 Sep 2010, 01:34

SINGAPORE (Dow Jones)


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2010-09-20_ASIA DAILY FOREX OUTLOOK - Majors (01h34 CET) 001.pdf (14.4 KB)


EUR/USD - to consolidate with risks skewed lower. Pair undermined by unwinding of long-EUR carry trades on increased risk aversion as Ireland's debt worries persist despite assurances from Irish officials and IMF; positions adjustment ahead of tomorrow's US FOMC announcement. EUR/USD daily chart mixed as MACD bullish, but stochastics turned bearish at overbought; bearish shooting-star candlestick pattern completed Friday. Support at 1.3016 (Friday's low); then at 1.2974 (Thursday's low); breach would target 1.2953 (Wednesday's low), then 1.2918 (previous cap set Sept. 6), 1.2871 (55-day moving average), 1.2826 (Tuesday's low) and 1.2701 (Sept. 13 low). Resistance at 1.3103 (hourly chart), then at 1.3160 (Friday's high); breach would reinstate near-term positive bias, exposing upside to 1.3225 (200-day moving average), then 1.3333 (Aug. 6 reaction high).



USD/JPY - to consolidate, trading volumes thin in Asia trade as Japan markets closed for holiday Monday. USD/JPY buoyed by fear of further Japan MOF JPY-selling intervention as Finance Minister Noda Friday threatened to act again if necessary to weaken yen, although no BOJ operation spotted in FX markets since Wednesday's Y2 trillion intervention. USD/JPY also supported by Japan importer buy-USD orders for import settlements; but gains limited by lower U.S. Treasury yields, Japan exporter sell-USD orders; selling of yen crosses amid negative global risk sentiment (VIX fear gauge ended up 1.34% Friday at 22.01) as concerns about euro-zone sovereign-debt problems flared again, although U.S. stocks posted modest gains (DJIA up 0.12%, Nasdaq up 0.54%) on flows from U.S. quadruple witching expirations. USD/JPY topside also limited by surprise drop in University of Michigan mid-September consumer sentiment index to 1-year low of 66.6 from 68.9 in August (vs forecast for rise to 70.0), weak U.S. August core CPI (flat vs +0.1% forecast) raising worries about deflation and speculation of further quantitative measures from U.S. Federal Reserve later this year, although FOMC not expected to announce any new bond-buying programs at its monetary policy meeting tomorrow. Data focus: 1400 GMT U.S. Sep NAHB housing market index. USD/JPY daily chart still positive-biased as MACD & stochastics bullish, although latter at overbought. Resistance at 85.93 (high of Thursday & Friday, near 55-day moving average); breach would expose upside to 86.39 (Aug. 13 high), then 86.49 (Aug. 5 high), 86.88 (Aug. 2 high) and 88.11 (July 28 reaction high). Support at 85.57 (Friday's low); breach would target 85.20 (Thursday's low), then 84.43 (previous cap set Sept. 10) and 82.87 (Wednesday's fresh 15-year low).



GBP/USD - to consolidate with risks skewed lower. Pair undermined by higher investor risk aversion, positions adjustment ahead of tomorrow's US FOMC announcement, concerns over negative impact of fiscal tightening on UK economy. Data focus: 0830 GMT September BOE trends in lending report, UK August CML mortgage lending figures. GBP/USD daily chart mixed as MACD bullish, but stochastics turning bearish at overbought; bearish shooting-star candlestick pattern completed Friday. Support at 1.5594 (Friday's low); breach would expose downside to 1.5536 (Thursday's low), then 1.5446 (Wednesday's low), 1.5345 (Tuesday's low), 1.5294 (Sept. 7 low) and 1.5146 (100-day moving average). Resistance at 1.5677 (hourly chart), then at 1.5728 (Friday's high); breach would reinstate near-term positive outlook, exposing upside to 1.5910 (Aug. 10 high), then 1.6002 (Aug. 6 top).



;-)

PA and BE ...

price action

break even

SL - Stop loss

TP - Take Profit

I dont what the hell is 'widgy friday' though.. someone here was really excited about it last week..

KA = keine Ahnung ...

Im targeting for a buy to 1.3071

Target supass 1.3071 i will get in to another buy to 1.3124

Currently strength USD 6.0 , EUR 5.0

USD - United States Dollar

GBP - Great Britain Pound

FF - Forex Factory

nice drawing.. all ready to go UP? or is it DOWN?
do you not consider the day tf h&s formation? and we tested the neckline last friday.. this can be disputed as always
if you refer to my chart price violated the orange sloping down trend line, its a focal point triangle (since last year October'09) and 1h tf show price staying above it yet i would say both bulls and bears need confirmation
good luck
..

setting some shorts in the box area.. looking for a possible 3071 till 3097.. but the boxed area is more likely If.. sl is not much above 97... im not saying we are gone here... im saying if we do i will short... im long ej with green locked. looking for dpp. the eu gartley said first stop was 2917 with more room below.. the usdx gartly agreed. . so my eu trade may not get triggered.

Buy 3040 underway 3135 reversal imminent this hour or next.

If EURUSD moves North, will take me here:

could very well happen. the dpp doesn't play a role in your train of thoughts, does it? i was looking for a retest of it to open another position.

Trying to break all chains, but still chained ........ and therefore anybody's game.

This hour should go to 3120 and the next 3135 and then down all day till 4pm / 7pm

the area of dpp is in the same area. so it did weigh on my thought.. if you go back to original post. the target said less then last high., but with slip double top would be in the realm.. im just thinking the mofu box may stop it. if it goes above i will lose some pips. if 2917 in the gartley is accurate i will make much more.. there is a bunch of resistance in the area posted. how strong is the million dollar question.

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

2010-09-20 _ zigzagtracktracer (03h50 CET) EUR-USD 005min _ 000.GIF (33.2 KB)

nothing changed atm ... still a sell the rallies modus preferred ... rejection entry from 1.3096 - 1.3110 or 1.3124 (?) ...

or direct bearish entry stops below 1.3015 zone considered ...

must sleep ... consider wake-up call levels to be ordered ... from finance service trading desks personnel or customer service staff ... turn-around

3078.1 comes up several times. as a possible top. im hoping for 3081 3082.9 or 3085.9 does it.

Triple Witching
http://www.investopedia.com/terms/t/...tchinghour.asp
http://www.wisegeek.com/what-is-a-tr...tching-day.htm

goood ... thank you ... I did not have the mildest intuition what that could have been meant with ... nicht die geringste Ahnung ... at least it is not our language ... not used to that slang ...

danke