Daily candle chart

Chart: Breaking the Star/Hang man

look at the usd/chf, eur/chf and chf/jpy monthly.

Possibly reversal patterns if you got fantasy (morning/evening stars, bullish hammer).

Now its all about the entry

u took the words out of my mouth..exactly how i feel..best to wait for it instead of trying to forecast it..USD always finishes me off!!

Ifebaba94,

which of the candles jump out of the screen and says: man, I´am a BIG candle, if I fail, all will reverse. But I will not fail

I wait for cad/lfx on 4 h chart to turn.

First entry usd/cad long was a loss.

Notice long wicks at the weekly.

gbp/aud 4 h:

bullish morning doji star:

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

some usd-index charts:

weekly (not finished)
monthly and
3 month

The monthly shows me, that price my range for a few more month, so the USD is not the driver in currency trading because it might go sidways, like it did in the past.

Also attached a 3 month SP500 chart (just finished). Lovely.

SP500 is said to be correlated with "save haven" currencys like aud and cad (but also to nzd, chf, silver, gold).

http://www.creditwritedowns.com/2011...rrelation.html

looking forward to see your monthly charts, because different broker give different candles depending of the candles hour close.

Here is nzd/usd monthly from freestockcharts and fxpro.

Yep break ,intresting week ,great for learning..

Some ideas, monthly charts:

My first post here .
Long time lurker .
This kind of candles have THREE types of reactions .

One : The break above with momentum brings a very bullish run defining new trend for few years since its monthly candle.

Two : Fake breakout with lack of momentum and daily and weekly candles showing upper shadow with big heavy sellers with daily candle close unable make a new higher close.and then a long to medium term fall .

Three: Price never breaks high and starts falling indicating sellers were loading positions when the market was rising to this high.

Just what i have noted from my views.

this brings me back to the idea of a longer term bearish USD.

Compare weekly usd index chart from may and july 2011:

Hello Anup,

are are very welcome !

I noticed in the last 3 trading days in may and june, that some massive buying stepped in. This destroyed the whole bearish monthly candle.

I have seen too many shooting stars after a haning man, that I will go short from here...

But we see on the monthly nzd/lfx chart, that nzd was in a heavy traffic zone for years and just has broken to the upside.

maybe its best to buy the lows.

massive market movements (not to say manipulation) in the last trading days last week.

see S&P 500 fly, (cad & aud too), plus the 10 year treasury note like a rocket.

TNX is good for selling yen (yen-crosses up).

Notice geppy weekly candle from different brokers.

Reviewing monthly charts, this one makes me thinking

the good old IH

Worth to notice is a bullish piercing line pattern on gbp/chf.

http://www.candlesticker.com/Cs39.asp

Its a weekly candlestick pattern, so this might
give a chance for a longterm trade.

hi Peter

Hello Hussin, hope you and your familiy are well...

body { margin-top: 4px; margin-left: 2px; margin-right: 2px; margin-bottom: 4px; } p { font-size : 10pt; font-family : Arial; margin-top:0px; margin-bottom:0px; } pre { font-size : 8pt; font-family : "Courier New", Courier, monospace; margin-top:0px; margin-bottom:0px; } The pound may be set for a long period of weakness, as the U.K.'s stubbornly low interest rates make it a good choice for selling in favor of higher-yielding currencies elsewhere, German bank Commerzbank said Monday.
Anemic growth in the U.K., which could slow further as government cutbacks kick in, mean the chance of a U.K. rate rise are increasingly remote, the bank said. Indeed, the Bank of England could even restart its asset-buying program if the supply of money in the system continues to slow, it said.
With interest rate prospects like that, sterling stands out as a solid so-called funding currency: the currency investors love to hate, selling it against higher-yielding bets elsewhere, in an investment tactic known as the carry trade.
Sterling is now the "ideal funding currency," said Peter Kinsella, analyst at Commerzbank. He noted that market expectations of U.K. interest rate increases have been pushed out towards the first quarter of 2012 from having predicted at least one rate increase by the summer of 2011. And if upcoming data releases disappoint, expectations could move further towards the summer of that year.
If Kinsella is correct, the pound would be in a unusual position. As recently as early 2011, the pound had been on the opposite side of the equation, with expectations of interest rate rises fuelling demand for the currency. The role of funding currency had traditionally been the preserve of the yen and dollar.
At 1408 GMT, the pound was at $1.6069 against the dollar, having dropped some 5.2% since early May.