EURUSD

Will we touch dotted blue line?

The answer is No. .............................. but probably PA does it for us.

Rumors are now swirling that the quick drop in the Yen was due to rumors that BOJ Governor Shirakawa may resign...

im skeptical about this intervention.......doesnt seem to be

i will continue my buy on eurusd

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

2010-09-24_ASIA DAILY FOREX OUTLOOK - Majors.pdf (11.0 KB)




ASIA DAILY FOREX OUTLOOK - Majors
24 Sep 2010, 01:33

SINGAPORE (Dow Jones)



EUR/USD - to trade with risks skewed lower. Pair undermined by reduced investor risk tolerance; worse-than-expected drop in euro-zone composite PMI to 53.8 in September from 56.2 in August (vs 55.7 forecast); sharp fall in German composite PMI to 54.8 from August's 58.4 (vs 57.9 expected); renewed tension in some euro-zone markets after surprise 1.2% contraction in Ireland's 2Q GDP (vs forecast for 0.5% growth), Portugal opposition party's refusal to help pass belt-tightening budget. But EUR/USD loses tempered by ultra-loose U.S. monetary policy, positions adjustment before weekend. Data focus: 0730 GMT August EuroCOIN indicator of euro-area economic activity, 0800 GMT German September Ifo business climate index. EUR/USD daily chart mixed as MACD bullish, but stochastics turning bearish at overbought; inside-day-range pattern completed yesterday. Support at 1.3303 (yesterday's low); breach would expose downside to 1.3245 (Wednesday's low), then 1.3055 (Tuesday's low), 1.3016 (Sept. 17 low) and 1.2974 (Sept. 16 low). Resistance at 1.3380 (hourly chart), then at 1.3413 (yesterday's high) and 1.3440 (Wednesday's high); breach would reinstate near-term positive bias, exposing upside to 1.3510 (50% Fibonacci retracement of decline from Nov. 25 high of 1.5144 to June 7 low of 1.1875), then 1.3691 (April 12 reaction high) and 1.3817 (March 17 reaction high).



USD/JPY - to trade with risks skewed lower. Pair undermined by selling of yen crosses amid negative global risk sentiment (VIX fear gauge jumped 6.04% to 23.87), Wall Street's losses overnight (DJIA off 0.72%, S&P off 0.83%) as worries over European economy resurfaced, latest U.S. weekly jobless claims rose more-than-expected 12,000 (vs +3,000 forecast). USD/JPY also weighed by Japan exporter sales, lower U.S. Treasury yields, expectations of further quantitative measures from U.S. Federal Reserve. But USD/JPY downside limited by fear of further Japan MOF JPY-selling intervention, USD demand for import settlements; better-than-expected 0.3% rise in U.S. August Conference Board index of leading economic indicators (vs +0.2% expected); stronger-than-expected 7.6% increase in U.S. August existing home sales (vs +7.0% expected); positions adjustment before weekend. Data focus: 1230 GMT U.S. August durable goods orders, 1400 GMT U.S. August new home sales, 1700 GMT Fed's Lacker speaks, 1800 GMT Fed's Plosser speaks. USD/JPY daily chart mixed as MACD bullish, but stochastics falling from overbought. Support at 84.24 (yesterday's low), then at 84.04 (61.8% Fibonacci correction of 82.87-85.93 Sept. 15-Sept. 16 advance); breach would expose downside to 82.87 (15-year low set Sept. 15), then psychological round-numbered levels from 82.00 down to 80.00, and 79.75 (record low set April 19, 1995). Resistance at 84.67 (yesterday's high); breach would tilt near-term outlook toward positive, targeting 85.18 (Wednesday's high), then 85.77 (Tuesday's high), 85.93 (Sept. 17 high), 86.39 (Aug. 13 high) and 86.49 (Aug. 5 high).



GBP/USD - to consolidate with risks skewed lower. Pair undermined by negative global risk sentiment, lingering concerns over negative impact of fiscal tightening on UK economy; but losses tempered by GBP demand on soft EUR/GBP cross, ultra-loose U.S. monetary policy, positions adjustment before weekend. GBP/USD daily chart still positive-biased as MACD bullish, while stochastics stay elevated at overbought. Support at 1.5609-1.5600 band (yesterday's low-Wednesday's low); breach would expose downside to 1.5501 (Tuesday's low), then 1.5446 (Sept. 15 low), 1.5345 (Sept. 14 low) and 1.5294 (Sept. 7 low). Resistance at 1.5741 (yesterday's high); breach would expose upside to 1.5910 (Aug. 10 high), then 1.6002 (Aug. 6 top).



AUD/USD - to trade with risks skewed lower. Pair undermined by unwinding of long-AUD carry trades on higher risk aversion. But AUD/USD losses tempered by Aussie-USD yield gap, divergent RBA-U.S. Fed monetary policy stances, firmer commodity prices (CRB spot index closed up 1.25 yesterday at 280.14), positions adjustment before weekend. AUD/USD daily chart mixed as MACD bullish, but stochastics turned bearish at overbought. Support at 0.9464 (yesterday's low); breach would target 0.9439 (Tuesday's low), then 0.9347 (Sept. 17 low), 0.9328 (Sept. 16 low) and 0.9311 (Sept. 14 low). Resistance at 0.9551 (hourly chart), then at 0.9576 (yesterday's high) and 0.9599 (Wednesday's high); breach would reinstate near-term positive bias, exposing upside to psychological round-numbered levels 0.9700 and 0.9800, then 0.9849 (July 15, 2008 post-float high).



USD/CHF - to trade with bearish bias. Pair weighed by unwinding of short-CHF carry trades amid higher risk aversion, ultra-loose U.S. monetary policy; but losses tempered by fear of SNB's CHF-selling intervention, positions adjustment before weekend. Daily chart negative-biased as MACD & stochastics bearish; 5- & 15-day moving averages falling. Support at 0.9801 (yesterday's low); breach would expose downside to psychological round-numbered levels 0.9700 & 0.9600, then 0.9572 (record low set March 17, 2008). Resistance at 0.9905 (yesterday's high); breach would temper near-term negative outlook, exposing upside to 0.9985 (Wednesday's high), then 1.0074 (Tuesday's high), 1.0121 (Monday's high) and 1.0183 (Sept. 17 high).



;-)

targeting 1.35 i think .. 127% hope so

http://img33.imageshack.us/img33/5958/75651853.jpg

download pdf

http://www.forexfactory.com/attachme...1&d=1285307173

This is why they say this:

http://www.forexfactory.com/attachme...1&d=1285307178

Does it break resistance or support first? That's the question that hopefully will be answered soon. PA show us the way.

This euro is going way up and going to support the move higher of gold and silver

http://www.livetradingnews.com/wp-co...euro_03141.jpg

(07:58) Okay ... I hope you have noticed ... that there has been a second round of intervention ... from BoJ aprox. 90 min ago ... but it was a very small action only until now ... I would not call this an 'intervention' ... a tiny manipulation yes ... but not 'intervention' ! ! !

But we must be aware ... further rounds might follow then ...


;-)

Good Job. Thanks for letting me know the policy.

here you go .. that tl breaks then target is days range is 1.3230.

TL holds we see 1.3450

Pretty decent support under us so longs look not bad BUT watch for up move to 1,3370 and failure there ( supply zone in us )

doubt that was intervention .... completely wrong time of day. Most time boj have been involved in these moves it is 6 pm to 7 pm pst NOT 930 pm

Well ... it is confirmed by three major Tokyo Banks I am with ... and by one major Swiss Bank I am connected with ... !

so finally e/j made it back to where it was before intervention...

Moreover ... time has nothing to say ... I can remember many cases during more than two decades of currency trading ... when BoJ has been seen several times on one day only during all 24-hours trading sessions ...

Specially in the huge 'Intervention Years' this has been their normal 'procedere' ... therefore I did say ... that was tiny action of warning manipulation only ... nothing more ... but not less as well ...

puhh

Seems that their "intervention" doesn't really work though.

Concerning EU, I wish it would stop dicking around.

Downtrend .... ?


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Morning to all . very first leg down to 3286 ok & likely some up but bull flag making confusion if it be last last down ?? what about others ?

lets see . usdx still on support I see though .and 4th wave correction may be any complex at the same time . still short holding active .
fontu