EURUSD

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European Forex Technicals: JPY Facing More Weakness
30 Mar 2011, 08:08

By Francis Bray (TRADING Central)
The Dow Jones Newswires Technical Analysis Partner



Intraday EUR/USD: Despite falling shy of the 1.4151 upside target, the recovery off 1.4021 is expected to extend above 1.4149. While support at 1.4047 holds, the main threat is for a push through 1.4128 and 1.4149, paving the way for further gains to 1.4188. A clean break below 1.4047 would damage the positive outlook, and prompt a return to Monday's 1.4021 low. However, the underlying uptrend is still intact while 1.3965 holds.

Weekly chart EUR/USD trend: Bullish.



Intraday USD/JPY: Extends the bull wave above 82.00 to open resistance at 83.01, and the Mar. 11 lower high at 83.30 is the primary target. The completion of a bull flag on the 60-minute chart provides upside projections that highlight potential scope to the 83.40 area before peaking. Corrective weakness will attract support while above 82.48, protecting solid support at 82.00.

Weekly chart USD/JPY trend: Bullish.



Intraday GBP/USD: A lateral consolidation phase is underway between 1.5937 and 1.6041, but a bearish resolution is the main threat. A push below Monday's 1.5937 low would extend the powerful downtrend to the 1.5872/95 area initially, but downside risk to 1.5796 cannot be ruled out on concerted weakness. Definitive resistance lies in the 1.6100/15 area to limit the scope for corrective strength.

Weekly chart GBP/USD trend: Bearish.



Intraday USD/CHF: Pushes into fresh two-week highs above 0.9235 to open the 1.618 Fibonacci extension target at 0.9263. Another wave target lies just above there at 0.9280, and this area is expected to limit the scope for upside risk during Wednesday's session. Failure to meet the 0.9280 target, combined with a break below 0.9196 would concern bulls, exposing Tuesday's low at 0.9140.

Weekly chart USD/CHF trend: Range.













I do post this today again ... as I see that many of us are not able to see what the market wants to give us ...

Those who are looking for reliable information ... should have a chance to get some ... mehr kann ich nicht tun ... it's up to you ... I have not got soo much time for you ...

At least there are only very few here who are working with success and with a system that is based on real experience that could work for you as well ...

That's why ... nennt es wie ihr es wollt ... aber sitzt nicht lange in einer falschen Fankurve herum ... don't waste your time ... trade in stead of ... einen schönen Tag wünsche ich ...


palim palim



;-|

Damn with you missed with 0,2pips now ....you become better and better with each minute

funny thing is most of these live traders go into hiding when making shit calls, haha

come on, that was a hit!

looked like it on my fxopen!

24hrs on and we're where we left off, 30 pips range either way, same old nfp crap, still in range contraction pennant, getting tighter...

hi sisse,

yes, it is a valuable lesson learned. With all the ranging we're doing, I'm in for a little drama.

I reckon the estimated 205k is too high... I would assume 180-190 would be more likely....

OK! what's your feelings about NFP ....up or down?!?

If I see a spike up on GU i would sell into spike.

Tough going on EU this week, pretty choppy nothing but range

I never lost due to my trading as much as I lost due to SL...So I now never use SL

The break of the range is going to be powerful. More than 5 days in an intraday range has enough oxygen to blow the uptrend down or push for a new break on the already overextended uptrend.

After last days action I doubt any trader around here can be 100% confident on which side....we'll see

sisse

Hmmm, I'll tell you tomorrow evening!

Hi all,
I suggest that traders buy EU @ 1.4084 (price already touched the level) TP 1.4174 SL 100pips.
Reason for entry: Price is in a rising channel and just re-tested support @ 1.4084 plus probable bearish butterfly forming on 1hr tf.
Find chart attached.
Happy trading!
Meshach.

eh?

How many accounts you blown up?

201k nothing significant.... still hoping for some momentum though...

Lost my image on last post

I am quite confident sisse
bringing in G7 meeting and scaling out

10 accounts, I guess...