EurAnalysis

Price Action

And now chart looks like bear flag to me..

Hello.

On the move.

Health for all.

2330 bulls just die already

The best pair ever.

I started building the short from 1.2146 with sell orders @ 10 pips interval. The next day set it to BE. Only last positions were stopped out. The rest are still running

EURTRY even better - triple the swap

That's excellent Ken. Nice pocket full of change from that one

Finally down we go...

Wheee Wheee Wheeeeeeeeeeeeeeeeeee

Bye bye euro

I wouldn't dare to do this with other pairs especially EUR/USD. It will wipe me out.

I don't know the percentage but EUR/AUD added 1 digit to my account

Dont count your cash before NY H4 closes. Which is in 2 hrs.

T

Very nice!

I want to short it at 1.19s, if we ever get back up there! Something tells me it could double bottom at 1.16 though. Took profit at 1.1650 thinking it would at least bounce, but has not, 1600 is a very valid target

Btw, I am glad I never go long .

like your calm charts

We think alike. I just gave him a voucher. He is almost as calm as you are. Have an excellent day.

Risk On or Off ?

The Daily Forex Brief is written by FxPro's team in the City of London.

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Daily Forex BriefLondon: Thursday 9th August 2012 The emerging slowdownThis week is being labelled the 5-year anniversary of the credit crisis. In the early years, what was notable was how much of a counterweight the emerging markets were - and in particular the BRIC countries of Brazil, Russian, India and China - to the slowdown seen in the US and elsewhere. So even though growth in major economies effectively stalled between 2008 and 2010, the BRIC economies grew by more than 25%. As the eurozone struggles with its sovereign crisis, the concern is that these emerging economies are not able to provide the same support to global growth, at least to an equal extent. The latest data for China overnight shows inflation falling further (from 2.2% to 1.8%), industrial production softening (but still strong at 9.2% YoY) and retail sales also softening by more than expected (down to 13.1% in July). Meanwhile, India saw some much weaker than expected production data and Brazil higher than expected inflation. Both Brazil and China should still be able to produce more stimulus measures though, as both are focused on the state of their underlying economies. But we can't rely on them the same way we did in the early days. Risk currencies such as the Aussie were supported overnight on the hope that further stimulus measures are on the way, but as always, markets should be careful what they wish for.
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In my chart, next level within the zone is 2295. Zone ends at 2287 and I would need h4 close below this number to confirm break.

It's not very attractive right now compared to 2 months ago with EUR getting wind from Draghi and AUD looks like about to burst.

Still worth the risk with tight stops.

Two months ago this pair was a curve ball.

http://www.actionforex.com/action-in...0120809171742/

It's a rather busy Asian session today with a long list of economic data released from China, Japan, Australia and New Zealand. Aussie and Canadian strengthened broadly on overall risk appetite while the former was given additional boost from economic data. European majors continued to consolidate against dollar, without any clear direction. The Japanese yen was a touch lower after BoJ rate decision but quickly settled back into familiar range.

BoJ left rates unchanged at 0-0.1% today as widely expected and refrained from expanding the JPY 70T stimulus program. The JPY 45T asset purchase target and JPY 25T loan program was kept unchanged. The bank also pledged to "proceed with monetary easing in a continuous manner by steadily increasing the amount outstanding of its asset purchase program". Two former economists attended the meeting as member for the first time and both didn't propose additional easing. BoJ noted that pick-up in exports has "moderated" and production has been "relatively weak", which was a downgrade of the prior meeting's view. Nonetheless, "firm domestic demand" is helping the economy to pickup. Analysts are expecting BoJ to expand the stimulus ahead but it's believed the timing would very much depends on when and what additional stimulus Fed would adopt. More in BOJ Keeps Its Powder Dry. Data from Japan saw household confidence dropped to 39.7 in July, housing loans rose 2.7% yoy in Q2, machine orders rose 5.6% mom in June.

Employment data from Australia was solid, with 14k growth in July comparing to 10k. Unemployment rate also dipped back to 5.2%. The growth number erased nearly half of June's -28.3k contraction. RBA Stevens noted in the statement earlier this week that domestic growth will be 'close to trend' while the job market has shown 'moderate' growth in employment. Today's data was affirmative to Steven's view and will strengthen RBA's stance to wait-and-see in near term. In contrast, New Zealand's job market unexpectedly contracted -0.1% qoq Q2, comparing to expectation of 0.4% growth. Unemployment rate also unexpectedly rose to 6.8%. And Kiwi clearly lagged behind Aussie and Loonie after the data.

China's CPI inflation cooled for the fourth month in a rose to 1.8% yoy in July. While that's above market expectation of 1.7% yoy, the deceleration in CPI should give the government more room for additional stimulus measures to ensure soft-landing, with hope of reversing the slowdown. PPI dropped -2.9% yoy in July while industrial production rose 9.2% yoy, retail sales rose 13.1% yoy, fixed asset investment rose 20.4% ytd/y and all are below consensus.

Looking ahead, ECB will release monthly bulletin in European session, together with UK trade balance. Canadian housing data and trade balance will be featured. From US, trade balance, jobless claims and wholesale inventories will be released.

Snippet:

Stocks consolidated Wednesday, in what could be either most of a sideways triangle or 3-3-5 flat pattern, both continuation patterns, meaning another rally leg should be coming later this week, possibly into next week. In spite of what looked like lackluster price movement Wednesday, the percent above 5 day, 10 day and 14 day stochastics rose, which is short-term bullish.


What we want to see now is if the Industrials can pop above their May 1st high (13,338.66), if the S&P 500 can rise above their April 2nd high (1,422.38), and if the NDX can rise above their April 3rd high (2,795.35). If that happens, it means there is a very good probability that stocks are headed much higher before the top that leads to a plunge starts. The upside target for stocks should these 2012 highs be exceeded would be the upper boundary of the Jaws of Death pattern we showed over the weekend. That upper boundary would be a magnet and mean the final leg of this massive and extremely Bearish big picture pattern is occurring. Timing would be a top later in 2012 or early 2013. Those upside targets could be as high as 14,000 in the Industrials, 1,550 in the S&P 500, and 3,500 would be possible in the NDX.

had posted before ... this is an important area to 2280 max .. stop