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GBP/JPY, GBP/USD, and EUR/USD (technical analysis)

  • #1,261
  • May 5, 2011 6:57am May 5, 2011 6:57am
Quoting Mpt
Japanese Finance Minister Noda, as quoted on Forex Live


“The market is moving in a different way from March 18…….We are closely watching the market.”

A different way? WTF?

Whatever they say, I kind of suspect the trek north will be faster than the recent path south
Haha! Yeah, it's doing the cookey dookey. Who knows. lol I'm looking for intervention at some point.
  • #1,262
  • May 5, 2011 6:59am May 5, 2011 6:59am
Although perhaps not the appropriate forum, I am watching the Aussie Dollar, and will be interested to see what happens around the speech from Bernanke/NFP and RBA announcement over the course of the next two days.

Of course, we also have Tricky Trichet today, and Merv the monetary perv tommorow; both of whom will be having little chats with their selected audiences.

May be just what we need to see runs on those currencies that we all enjoy.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #1,263
  • May 5, 2011 7:02am May 5, 2011 7:02am
Yep, will wait for initial move, hope for a small retrace, and then take the second wave.

...I say that all the time, but when the market explodes, it ain't always easy to trust jumping on.

Quoting calderone
I am going to stay patient.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #1,264
  • May 5, 2011 7:06am May 5, 2011 7:06am
Quoting 45Condor
Although perhaps not the appropriate forum, I am watching the Aussie Dollar, and will be interested to see what happens around the speech from Bernanke/NFP and RBA announcement over the course of the next two days.

Of course, we also have Tricky Trichet today, and Merv the monetary perv tommorow; both of whom will be having little chats with their selected audiences.

May be just what we need to see runs on those currencies that we all enjoy.
Yeah, interesting areas. I was thinking if we don't consolidate in the area that price is now-and break south-the next area will be 1.0580-1.0540 area.

Alternatively we could go back to 1.0750 area as well.
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  • #1,265
  • May 5, 2011 7:08am May 5, 2011 7:08am
Quoting 45Condor
Yep, will wait for initial move, hope for a small retrace, and then take the second wave.

...I say that all the time, but when the market explodes, it ain't always easy to trust jumping on.
No doubt.

Check back in a while.
  • #1,266
  • May 5, 2011 7:38am May 5, 2011 7:38am
Had to take a small lot, large stop short on the Aussie. Targeting 1.01930 area... and why not.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #1,267
  • May 5, 2011 9:08am May 5, 2011 9:08am
131.00 gave us a nice bounce so far, but i doubt this is the low's - only intervention will confirm this low - otherwise 128.00/10 is my personal level where we might bottom out--- but def. keep an eye on E/J -- when E/J hit 115.50 then that might be it and up we go ! --

i still hold this bastard from 123.80 - but other pairs keep me busy.

E/U -- i tihnk i am going one shot for 1.35's only spike below 1.4150's will confirm 1.35's -


my EURO motto- go big or go bust !
  • #1,268
  • May 5, 2011 9:33am May 5, 2011 9:33am
as long as we close below 133 today then my bias on dailys is bearish. (we have violated the previous low swing at 133)

i'm expecting 130 then i will short any retrace to 129 (100% symmertry) and possibly 126 (261 fib).

happy pippin baby
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  • #1,269
  • May 5, 2011 9:34am May 5, 2011 9:34am
i post this chart a while ago somewhere else--

i know we can only have a 3 leg triangle-- but majority is 5 legs--

here is the DX-index weekly - complete leg 3 of 5 --- so in my view DX can complete the MAJOR triangle that is still in play --

where is the E/U going then ? 1.2's ? oooh yes !

lets see-

( my wave count might be wrong here,but it is surely not completed yet )

wave 1 can be 2 and 2 can be 3 -- i dont know- but def. not 5 waves
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  • #1,270
  • May 5, 2011 10:48am May 5, 2011 10:48am
Quoting Guchi
( my wave count might be wrong here,but it is surely not completed yet )

wave 1 can be 2 and 2 can be 3 -- i dont know- but def. not 5 waves
what you have there is correct g.

i would label it abcde though, but the concepts are the same.
if upper tl gives, we can use wolf wave to see the potential target zone.
  • #1,271
  • May 5, 2011 10:51am May 5, 2011 10:51am
Quoting Guchi
where is the E/U going then ? 1.2's ? oooh yes !

lets see-
looks like the fist top is formed on weekly bases.
expecting the retest of the high (a bit higher: double top on weekly) before full bears come out and play.

if not then will just have to hop in on the way down....
  • #1,272
  • May 5, 2011 10:54am May 5, 2011 10:54am
good trading to all
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  • #1,273
  • May 5, 2011 11:02am May 5, 2011 11:02am
Quoting pkimnyc
looks like the fist top is formed on weekly bases.
expecting the retest of the high (a bit higher: double top on weekly) before full bears come out and play.

if not then will just have to hop in on the way down....
im not going to post here aswell,but i did 5 min ago in pipchicks forum--about euro monthly and his "bullflag" -go read it there
  • #1,274
  • May 5, 2011 11:08am May 5, 2011 11:08am
geppy count.
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  • #1,275
  • May 5, 2011 2:46pm May 5, 2011 2:46pm
Wow, what a session. It's like someone pulled the plug in the bathtub. lol
  • #1,276
  • May 5, 2011 4:19pm May 5, 2011 4:19pm
I said for eur/usd a bearish doji line is a reliable and pretty rare pattern. Today we see confirmation for this patern appeared.

We will see more bears to come.

"Candels exhaust themselves to give light to man" (Steve Nison).




quote=peaches;4593585]Daily technical analyses for eur/usd:

A doji line pattern.

To make it short: Short

Or let read the words from Mr. Steve Nison in its book
Japanes candlestick charting techniques:

"The tri-star is very rare but a very significant reversal (!!) pattern.
The tri-star is formed by three doji lines. The middle doji is a doji
star (in this case, this is not a star, but nothing is perfect in forex).
....the most importend aspect of this pattern is that the lines should be
three dojis (or near Dojis)."

Weekly target is a 1000 pips (sounds a bit greedy, but its in my charts ),
and eur/usd will still be comfortable in bull land on weekly ichimoku chart at 1.39.

(Upthrust till 1.50 can still not be ruled out, because round number for bull TP).

Green pips to all.[/quote]
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  • #1,277
  • May 5, 2011 4:25pm May 5, 2011 4:25pm
no offense, a total newbie but is your post just giving 50 / 50 chance?
up to 1.5 or down to 1.39 uhmmmm

am I missing something?
  • #1,278
  • May 5, 2011 4:38pm May 5, 2011 4:38pm
let me allow to show some candlestick pattern for other currency pairs,
I know it is of topic, but pattern appear not that often.

I see a bullish doji star for usd/chf:

http://www.candlesticker.com/Cs60.asp

I see a three black crows pattern for aud/lfx, so aud has just started with its bearish drop:

http://www.candlesticker.com/Cs74.asp

A bullish hammer appears for cad/chf:

http://www.candlesticker.com/Cs18.asp

I do not have a pattern for usd/jpy yet for most broker. But oanda closes daily candle in 7 hours. I`am bullish for usd/jpy because we might see a piercing line pattern for lfx/jpy (yen starts getting bearish).
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  • #1,279
  • May 5, 2011 4:45pm May 5, 2011 4:45pm
Quoting sphinx8
no offense, a total newbie but is your post just giving 50 / 50 chance?
up to 1.5 or down to 1.39 uhmmmm

am I missing something?
If you read post http://www.forexfactory.com/showpost...postcount=1231 you read doji line pattern as major reversal pattern. Thats it. Other thing for this pattern is the entry. I was expecting a jump up for 1.50, to get best short entry, and my sell order there was missed, but sell order below 1.48 was triggered

Reversal pattern on the daily are not for 200 or 300 hundred pips, they are shift in sentiment which should last for weeks. Lets see what freaky friday brings
  • #1,280
  • May 5, 2011 4:51pm May 5, 2011 4:51pm
Quoting peaches
If you read post http://www.forexfactory.com/showpost...postcount=1231 you read doji line pattern as major reversal pattern. Thats it. Other thing for this pattern is the entry. I was expecting a jump up for 1.50, to get best short entry, and my sell order there was missed, but sell order below 1.48 was triggered

Reversal pattern on the daily are not for 200 or 300 hundred pips, they are shift in sentiment which should last for weeks. Lets see what freaky friday brings
should have made a comment and seen the post never the less old George still has it always another reason

to add i'd p%$£ myself if i seen some kind of intervention tonight on top
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