EURUSD

http://www.forexrainbow.com/files/t3...jx56ob3k5g.jpg

Forgot to post the chart.. POSSIBLE outcome..

This is dreadful slow PA, so reaching your TP will take a loooong time.

that's the one that I've been watching myself

this is an economic war. us just declared war on china. China will could retaliate by strengthening dollar. They win either way, they sell euros to buy dollars then they strengthen their us asset holdings. They could let the selling of usd continue since their currency is pegged to it. They have a competitive advantage.

thats why I said it's more talking than action.

Since they both get what they want at the expense of chinesse and american tax payer. but they do get all the hype before election. IF needed CHina also can let the YUAN rise another 0.00053% so everybody is happy.



the fact is small business in US are going bankrupt because of China yet if China stops buying debt what happen to Uncle Sam ?

ASIA DAILY FOREX OUTLOOK - Majors
30 Sep 2010, 01:32

SINGAPORE (Dow Jones)


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

2010-09-30_ASIA DAILY FOREX OUTLOOK - Majors (01h32 CET) EUR - to consolidate with bullish bias.pdf (14.8 KB)



EUR/USD - to consolidate with bullish bias. Pair underpinned by negative USD sentiment; European Commission proposal of legislation to strengthen its control over economic policies of EU member states, including fines for breaching budget rules; lower-than-expected take-up of ECB's 3-month LTRO at EUR104 billion compared with EUR225 billion maturing today; surprise rise in euro-zone September Economic Sentiment Index to 103.2 from revised 102.3 in August (vs forecast for fall to 101.5). But EUR/USD topside limited by weaker investor risk tolerance, lingering concerns over Irish & Portuguese debt. Data focus: 0800 GMT German September labor market statistics, 0900 GMT September flash estimate euro-area inflation. EUR/USD daily chart positive-biased as MACD & stochastics bullish, although latter at overbought, suggesting sideways or higher EUR/USD trading near-term. Resistance at 1.3647 (yesterday's high); breach would expose upside to 1.3691 (April 12 reaction high), then 1.3817 (March 17 reaction high), 1.3839 (Feb. 9 reaction high) and 1.3895 (61.8% Fibonacci retracement of decline from Nov. 25 high of 1.5144 to June 7 low of 1.1875). Support at 1.3564 (yesterday's low); breach would temper near-term positive outlook, exposing downside to 1.3483 (hourly chart), then 1.3380 (Tuesday's low), 1.3284 (Friday's low), 1.3245 (Sept. 22 low) and 1.3055 (Sept. 21 low).



USD/JPY - to consolidate with bearish bias amid negative USD sentiment (ICE spot dollar index last 78.775 vs Tuesday's 79.014 settlement) on expectations of further quantitative measures from U.S. Federal Reserve despite comments from some Fed officials tempering these bets: Fed's Rosengren said further monetary stimulus depend on upcoming data, Fed's Plosser said he opposes second round of Treasury purchases of any size. USD/JPY also undermined by Japan exporter sales, unwinding of JPY-funded carry trades amid diminished investor risk tolerance (VIX fear gauge rose 2.88% to 23.25), modest Wall Street losses overnight (DJIA off 0.21%, S&P off 0.26%). But USD/JPY losses tempered by fear of further Japan MOF JPY-selling intervention, USD demand for import settlements, higher U.S. Treasury yields after Rosengren & Plosser's comments. Data focus: 2350 GMT Japan August preliminary industrial production, August preliminary retail sales, 0500 GMT Japan August housing starts, August construction orders, 1230 GMT U.S. September ISM-NY business index, U.S. 2Q GDP (final estimate), Sept 25 weekly jobless claims, 1345 GMT September ISM-Chicago PMI, 1500 GMT September Kansas City Fed manufacturing activity index. USD/JPY daily chart negative-biased as MACD & stochastics bearish; 5-day moving average below 15-day and falling. Support at 83.48 (yesterday's low); 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 84.07 (yesterday's high); breach would temper near-term negative outlook, exposing upside to 84.39 (Monday's high), then 85.00 (hourly chart), 85.38 (Friday's high, near 55-day moving average), 85.77 (Sept. 21 high) and 85.93 (Sept. 16 reaction high).



GBP/USD - to consolidate with risks skewed lower. Pair undermined by weaker-than-expected UK GfK September consumer confidence index of minus 20 (vs minus 19 forecast); disappointing UK August mortgage approvals data; lingering effect from BOE Posen's comment Tuesday for further UK quantitative easing; concerns over negative impact of fiscal tightening on UK economic growth, reduced investor risk tolerance. But GBP/USD losses tempered by negative USD sentiment. Data focus: 0600 GMT UK September Nationwide monthly housing review, 0830 GMT 3Q BOE credit conditions survey. GBP/USD daily chart mixed as MACD bullish, but stochastics bearish at overbought; inside-day-range pattern completed yesterday. Support at 1.5760 (yesterday's low); breach would expose downside to 1.5717 (Tuesday's low), then 1.5638 (Friday's low), 1.5600 (Sept. 22 low), 1.5573 (55-day moving average) and 1.5501 (Sept. 21 low). Resistance at 1.5874 (yesterday's high), then at 1.5895 (Tuesday's high); breach would reinstate near-term positive outlook, exposing upside to 1.5910 (Aug. 10 high), then 1.6002 (Aug. 6 top), 1.6069 (Feb. 3 high) and 1.6276 (Jan. 28 high).



;-)

Thanks, Done for tonight, Have a good day/evening/night..

we'll watch this thing tomorrow

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

2010-09-30_00h35_ EURUSD _ 015min _ (all ind).PNG (31.5 KB)



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

2010-09-30_01h55_ EURUSD _ 015min _ (all ind).PNG (31.6 KB)


Trend still bullish ... but maybe we will tend to go in a sell the rallies modus later ...

Elliott points up ... impulse 1.3662 or 1.3693 ...

Corrective consolidation activity below 1.3636/ 42 or 1.3662 ...

Entry + Exit + Range ...

Upside 1.3655 -1.3662 ... look out for spinning tops ...

Downside -> 1.3580 or even to -> 1.3556 - 1-3534 in case of extention ...

!Congratulation to this tread startedrand followers, posters and listeners, I couldn't have done it bether, thanks for all the good analisis here posted everyday and to all the posters good or bad, they have take their time to post their analisis wish counts, gator you know you are one of the ones, driver55 we will be lost without you, and a lot more that are to many to mention, they know who they are so congrats on page 19900

What time of day does the Irish Bank annoucement and the 2011 Budget get released for the EUR?

The dollar is trashed and it does not have a single breath. I expect the dollar to fall farther as a fed strategy to increase manufacture outputs, increase exports, and put more people to work, after all, this was expected as the unemployment level is not improving and we are approaching elections, particularly presidential election which is going really start mid late next year, so unemployment numbers must get better.

When governments reach the point where they are borrowing to pay the interest on their borrowing they are coming dangerously close to running a sovereign Ponzi scheme. Ponzi schemes have a way of ending unhappily. To get out of the Ponzi trap, governments will have to increase tax revenues, or cut spending, or monetize the debt--or most likely do some combination of all three

aud/usd dropping quick

yea those building permits were quite bad -4.7%

let's see how the nzd business confidence comes out at 10

646 pending triggered shorts for me./set and forget mode now.Sl is minimal.If that fails then 700+ for next shot.Going to sleep

kinda like this. mid on #2 hit

is that 2 min chart ?

Some TL support that should hold here, at this time of day, and for now.

G'day folks!

Fess up! Who's been short these past weeks?