EurAnalysis

Bad Philly fed could have a lot to do with hurricane sandy.

i dont know why my eyes keep looking at 1.3590/640. PT my feel is u may be a bit early for shorting this beast.regards

I guess you missed the next post...

Not sure about that. It's a leading indicator coz it's a survey of manufacturer's sentiment about the future. Therefore past events (Superstorm Sandy) would probably have little to no bearing on the outcome. I'd say it's more related to the upcoming fiscal ledge (not cliff) and debt ceiling negotiations.

Hey, is everyone sleeping. Bulls are still in charge and the volatility is alive.

So whys this thread dead?

Anyone see this bouncing off the recent high of 1.34+++ or it gonna take a break and pull back?

There is nothing much what to talk about from the technical side at least.. Yesterday Yen pairs bursted through all the levels, now sitting in overbought conditions. And its friday - weekly closing levels in play so could be choppy could be tiny range or could be anything else

Bids reported at 3360 - I guess that makes this level profit taking point for yesterdays bulls

a nice start to the day for bears

Asians didnt sold much during the night, Nikkei closed in surplus. SO, if week will close bearish across the board (especialy E/U, E/J and ES), then I'm looking forward to do some handful shorts on sunday night show

So what are the pigs doing today?

They are still feasting on artificially low sovereign bond yields

Eeeee....
I saw it yesterday in my local TESCO store, when they left promotional, out of date food, so everybody could take it for free...
...
-

A bit serious now...
I am still scratching my head…
Bulls couldn’t break 1.3400 and a strong “bull-back” from this area makes me think that bulls just gave up for rest of the day.
Maybe next week they will try again, but today they just took their profits before weekend, which I do understand fully…
Four hour candle looking bearish, forming nice double top, also strong bearish divergence on oscillators, therefore I put my bear hat on for today.
For today, my target is combination of FIBO retracement and S/R at 1.33100
Certainly, my scenario would be rejected if we break 1.3400, which is less likely for me, but still possible.

Mmmmm... Niam niam - delicious piggies

Hmmm Looking on last four 1H candles I am hesitating...
Any advise?

Now, 1 minutes before close my 1H candle looks much better
Looks like this impuls was a bunch of big SELL orders, hopefully

Good Morning

I had posted a few pages back information on the Yen. This morning there is more fundamental information out on the Yen and the strong possibility that the BOJ will get into the money printing game in order to get inflation in their economy.

You are looking at the issues only from the technical side.

If the BOJ does announce a massive stimulus program then what will happen is the Yen will weaken and it will move over 90.00 and perhaps head to 100.00

I now turn to CORRELATION and the FX currency crosses. EUR/JPY will move over 1.2000 if the Yen is weakened.

When EUR/JPY moves up it brings EUR/USD up with it. That is why you see EUR/USD strength for the moment.

If however the Dow moves down substantially then we have RISK OFF and the money will flow into the US Bonds and out of EUR/USD for a number of reasons.

Understanding what I just explained will make it easier to follow your charts and use technicals in your forex trading.

I hope this information helps you follow the fundamental side of forex trading along with the MONEY FLOW which always changes the charts as different Asset Classes change values as money flows in and out of them.

http://www.reuters.com/article/2013/...90H02720130118

Snippet:



TOKYO | Fri Jan 18, 2013 4:30am EST


(Reuters) - Japan's government and central bank have agreed to set 2 percent inflation as a new target next week, when the Bank of Japan will also consider making an open-ended commitment to buy assets until the target is in sight, sources familiar with the BOJ's thinking told Reuters.


The central bank will also discuss at its policy review on Monday and Tuesday, scrapping interest it pays on banks' reserves, a move that will nudge money market rates to zero, according to the sources.


Faced with relentless pressure from Prime Minister Shinzo Abe to do more to pull Japan out of deflation, the BOJ is expected to double its inflation target and ease policy again at a two-day policy review that ends on Tuesday.


While the most likely option would be for the BOJ to top up its long-standing asset buying programme, central bankers will likely debate other measures such as open-ended asset purchases, to live up to market expectations for bolder monetary stimulus.


Any new initiatives would surprise investors, possibly putting the yen under more selling pressure and further boosting Japanese stocks, which have hit their highest levels in nearly three years on hopes of bolder policy measures.


The BOJ and the government are finalizing a joint statement they plan to issue on Tuesday, which would include 2 percent inflation as the bank's policy goal, deputy economics minister Yasutoshi Nishimura told Reuters.


"Governor (Masaaki) Shirakawa has been saying that 1 percent inflation would be in sight before long but we have not reached that stage yet," Nishimura said.


"If we share 2 percent inflation as a common objective, we expect the BOJ to do something very aggressive."
The statement will not set a specific deadline for achieving the target and leave the central bank freedom to decide on what steps to take to achieve it, Nishimura said.


But the government will examine how much progress the BOJ is making on achieving the target through its top economic panel, which the central bank governor attends regularly, a sign that pressure for bold monetary stimulus will persist.
MORE UNCONVENTIONAL STEPS


Abe, who led his Liberal Democratic Party to a landslide victory in a December 16 election with promises of aggressive budget and monetary stimulus, has suggested adding job creation to the BOJ's policy goals and making 2 percent inflation a medium-term goal that should be achieved in two to three years.

long EUR/JPY from here