EURUSD

Hi ALL,

Need advice. If French is on strike, like tmr, how does it affect the EURO?
I'm very new in this, learning. Thanks much.

Rgds,
Kat ^_^

My PT is 3911, and I'm short from 1.3946.

I am with you buddy, assuming its going to be whipsaw trading until Asia open tomorrow with US closed I mean...






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Pound Pouts Beside Dog-Eared Dollar, For Now
By KATIE MARTIN
Of DOW JONES NEWSWIRES


LONDON -- If you're going to have your photograph taken, it's always worth standing next to someone really ugly.
Come on, we've all done it. What better way to look super fabulous?
Something very similar is happening in the currency markets right now.
The euro is not exactly a supermodel at the moment, but compared to the pug-ugly dollar, it's looking pretty foxy. Hence its sparkling run up to $1.40 against the buck.
The same can be said of sterling. It has flaws. Big ones. But it has been shining against the grisly greenback of late, nudging above $1.60--a major psychological landmark--for a short spell last week.
Still, sterling-bashing is one of the currency market's favorite sports. When it drops, it drops hard. And it might just start to look that bit uglier against the dollar soon. After all, concerns that the Bank of England might buy more bonds to support the U.K. economy have already pushed the pound down against other currencies like the euro and the Australian dollar in recent weeks.
"Sterling's underperformance is being lost in the dollar's shadow," said analysts at HSBC at the end of last week. "For a while, we viewed sterling as being the best of a bad bunch. However, we are getting a little concerned about a few aspects regarding the U.K. economy, and feel that the dollar's fall is disguising some of these issues for sterling."
HSBC always thought that the U.K. was in for a slow patch after the election in May. Now it thinks growth is likely to be even slower than it had predicted, at 1.4% next year, from its previous expectation of 1.9%. Sterling weakness isn't helping exports either, it added. Get set for the BOE to follow HSBC in downgrading growth forecasts, and possibly fire up the money printing presses too, it warned.
"If the Fed does enact (quantitative easing), the BOE may do so with a lag, and the market will then switch to sterling as being the villain of the piece rather than the dollar," the bank concluded.
It's not just HSBC that's concerned, though as it's a major U.K. retail bank, one would expect it to have a better feel for its home economy than many others, so it may be worth listening to more.
Simon Derrick, a senior currencies analyst at the Bank of New York Mellon in London, also warns that the pound may take a pounding as investors' attention shifts away from the theme of fiscal strains (not exactly a sterling positive anyway) and settles on monetary policy. Deutsche Bank--the biggest currencies dealer in the world--also continues to believe that the best of the positive surprises from U.K. data are behind us, and advises selling sterling against the euro.
Of course, if the dollar's drubbing continues, all this is academic. The pound will keep on climbing against the buck anyway. There, one has to take a view on whether the dollar-flogging party is overdone or not--a point that the market's finest minds disagree on. But if the dollar-selling frenzy does calm down somewhat, it would be daft to rule out a tumble in sterling.
U.K. inflation data due Tuesday and employment data due Wednesday will help to form a picture.
In early European trading Monday, currency traders were digesting the news that the International Monetary Fund meeting over the weekend had produced no firm resolution on dealing with exchange-rate issues.
The euro remained elevated at $1.3964 against the dollar, from around $1.3925 late in New York Friday, according to trading system EBS.
Sterling was steady at $1.5935 from around $1.5950.
The dollar was little changed at Y81.96 against the yen, having dipped to a fresh 15-year low of Y81.37 in early Asian hours. The risk of a fresh Japanese intervention to weaken the yen is significant at this point. The euro was at Y114.51 from Y114.30.
The dollar was at CHF0.9613 against the Swiss franc, roughly equal to Friday's levels, and still close to the record low of CHF0.9555 seen last week.

usd could strengthen here.. this is a large chart with a potential of further lower movement according to a normal tl... but this one indicates it will turn before the blue line. (when the white line hits the blue, its done already) the normal tl are at about 7600 and 7590. cic is close to rolling over to the bullish side. day chart. .. waiting to see if it develops. if it does its in agreement with all myself and a minority of guys posted. as i type this the cic rolled to the bull side. i am waiting for the eu to role now.. __________________

Trailing with 25 Pips SL.... Target looking for 200 SMA........ if goes against trailing sl will make me happy still....

I just decided to take my 13 pips and exit.

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

2010-10-11_08h21_European Forex Technicals - EUR Upside Momentum Waning.pdf (12.6 KB)


European Forex Technicals: EUR Upside Momentum Waning

By Francis Bray
A DOW JONES NEWSWIRES COLUMN


Intraday EUR/USD: the strong recovery off 1.3833 maintains the dominant bull tone and last week's eight-month high at 1.4030 is looking vulnerable. However, there is significant resistance in the 1.4046/53 area that will require a fresh wave of bull pressure to force a break higher towards 1.4100. Corrective weakness will attract support while above 1.3900, protecting the 1.3833 low.

Weekly chart EUR/USD trend: Bullish.



Got no time now atm ... see you later ...

;-)

Monday trading as always I have also some pending orders(longs) also waiting @ h4 TF.

you want color?

im out at 3914......it was scary but gud....

That made my day, lol. Thanks!

Well I covered at 3923, but this 1hr bar looks pretty heavy. I see some support 3908 and below there 3878, but no more trades for me today. Wonder where the buyers are lurking?

ok so far & now lets see if can break also 3905 , 3881 levels to test 3860 less important now but 3808 is .

Can break chain reaction at any level as usdx not seems so bullish, may be just a formal reaction & sure ranging mode if can play some here .
fontu

yeah good remark..the 30sma similar to a trendline heheheh

i'm tempted. bounce off of dpp isn't serious enough to believe that bulls are not on a vacation.

Absolutely,

The question is; How much should it drop before there is a trend reversal
1.37? 1.35?

Autochartist USDCHF alert. In support of the current bearish EURUSD trend.

bounce off half way back?