EurAnalysis

No. CG look the H4 is good

Vive in Italia e un po' tardi... La mia famiglia e da San Remo. Io non parlo molto italiano

http://www.forexfactory.com/attachme...5&d=1339101501

Everything looks like in scenario

This thing doesnt stop because it is a ended diagonal Something like this

Could be perfectly I like it, but we need confirmation. Wait until the diagonal ends if break down you got it...

Hmm, not buying it for a couple of reasons and this is based on the following assumption of where you have your levels for the I-H&S;

a) You are going from the May top
b) Your left shoulder was formed from May 23 to May 29
c) Yottom is at the opening of June 1
d) Your left shoulder is from June 6 to today

Here are the reasons why I'm not buying it;

1) The May 23 to May 29 was not the formation of a left shoulder as the price did not really retrace up, it stalled. It went sideways for that period.

2) The length of that period was too long (24 x 4H candles)

3) In a down trend you would expect your right shoulder to be lower than your left one (rarely are H&S symmetrical)

4) A breach of 1.2494 will invalidate the formation (IMO) as it will have posted a lower low than the left shoulder without having broken the high of the left shoulder.

5) The length of the whole formation thus far is 70 candles. Far too long in this fast paced Forex market.

6) Daily chart does not support it until (and if) we break 1.2620

7) Gold and crude have both failed to break resistance and are now dropping like stones.

8) 10 Year yield is now moving up from it's lows

9) USDX stalled at 82 (support was at 81.890) and is now moving up.

10) It's time for bed and getting tired

(this is)what happen to my gold trade yesterday

morning guys.2580 n 2530 settle.as for now looking to short at 2532 with 2477 target.

Guys... I am BULL!

why the change ???!!!

Look my chart up 3 possibilities I see

I will suggest to wait until monday to look vias

i agree with tp 1.2620 for me

good luck with that mate !!!

Daily = Closed below 50% = Closed In bearish = Confirmed breaking Yesterday Lows

4H = Dark Cloud with strong R @ 1.262 = rejected formed Pin = breath and closed below 50% and formed double S = Tokyo Open Confirmed breaking down

Next London & NY

Good morning all

Welcome to Freaky Friday. I hope it's a good one for all of you.

1.2623 held like a bastion yesterday and the Asian session confirmed its significance as a "no-fly" zone. I have to say I was a bit surprised it held because I was quite convinced that Benny was going to give in to the financial markets and follow his fellow central bankers down the path of hinting at more easing. It's not that I thought QE3 was coming. I already made my views on that very clear all week. However, I did expect him to hint towards it just as Yellen did on Wednesday night. So much for them being on the same page. I guess Yellen is more of a dove than Benny.

Anyway, such is the case. Now 1.2623 seems to be a baked in barrier... at least for now. Lets see what happens at London open. Will London follow NY and Asia and drive this pair lower? Personally, I hope so. However, let's not lose sight of the risks here. The Euro is net short and even though we got a 330 pip correction, there is still room for more. Also consider that the lemmings are now more short than long. Lemmings are always wrong, so being a bear right now puts me in that category ... Regardless, the underlying fundamentals are strongly bearish, so I'm going in the direction of the majority of the arrows and not just a few of them. That direction for now is down.

Today I'm showing the daily chart instead of H4. Today's H4 is a total mess with all of yesterday's gyrations so it really doesn't say much of anything, other than several long wicks on the upside suggesting heavy resistance. The daily chart is clearly showing me a pinbar reversal pattern and a slight bearish hidden divergence. More importantly, it is showing one of my favorite fibo based continuation patterns. When price breaks through a 100% fibo level, more often than not, a reversal at or slightly beyond the 123.6% level takes us back to the 100% level for a retest. If that retest fails (which it did), then that is a very strong indication that we will continue on to 161.8%. Obviously in a large time frame such as the daily, such a target will not be reached overnight, but I am happy to say that it appears to have started in that direction. If things get really bad from a political perspective, we could possibly reach it by the Greek elections. That 161.8% target currently sits at 1.2093.

So, as you were, sit up straight, pay attention and don't be greedy. See you all in GreenPipVille

E/U Daily

Today’s orderboard

Written by Pete Jackson
June 8, 2012 at 05:26 GMT

EUR/USD: Strong bids 1.2500/10 sell stops through 1.2490. Tech res 1.2575, offers 1.2590/00 stops up through 1.2625

GBP/USD: Tech supp 1.5470/80, 1.5450/60 and 1.5430/40. Offers 1.5525/35

EUR/GBP: Bids 0.8065/70, tech support 0.8050/55, offers 0.8105/10 and 0.8125/30

USD/JPY: Offers 79.75/85(exporters), buy stops just above and through 80.10 and larger through 80.25 (80.17 100 day MA) ahead of more offers 80.50/60. Bids 79.00/10, sell stops just below ahead of more bids 78.50/65

EUR/JPY: Tech sup 99.20/30 (99.25 Fibo 38.3% of 97.05/100.63), sell stops down through 99.20 and 99.00. Offers towards 100.00 (also 20 day MA) and 100.20/30

EUR/CHF: Bids 1.2000/10(SNB), Offers 1.2025/35

USD/CHF: Tech res 0.9580/00, Tech sup 0.9550/60 and 0.9500/.10

AUD/USD: Offers 0.9910/20, 0.9935/45. Bids 0.9825/35 and better down at 0.9800/10

AUD/JPY: Bids 78.00/05, sell stops just below, some tech sup 77.91 (20 day MA). Tech res around 78.50/55 (78.55 Ichimoku kijun line)

E/U set for more down

can't imagine we see bulls today but as always anything is possible

Today's Euro option expiries at 14:00 GMT

1.2600
1.2550
1.2500
1.2430

But it seems with Europe on a Friday anything really, really is possible

Surprise
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