Quote of the day: “There art two cardinal sins from which all others spring: Impatience and Laziness.” ~ Franz Kafka
Good morning. The dollar holds gains as the euro is retreating after yesterday’s short-lived attempt to reach the $1.37 zone. The resistance around 1.3700 highlighted in my yesterday’s post is intact and as long as the euro holds below, selling on signs of weakness is probably the best thing to do. Let’s check the dollar index chart before continuing with the EUR and others
USD Index
There’s a horizontal support line around 77.50 right now where the dollar found a temporary resistance some days ago. Well, if sellers manage to breach through the said line – selling on the break lower could be worth it. Meanwhile, upside remains favored as the dollar is strengthening across the board
USD Index Chart Daily 9-30-2011
EURUSD
As seen below, the 50% retracement value which provided support on last downside attempt is currently under heavy pressure.
Euro Vs US Dollar Chart Hourly 9-30-2011
and the daily chart
Euro Vs US Dollar Chart Daily 9-30-2011
EURGBP
Still waiting for support around 50% to be tested and breached, eventually
Euro Vs British Pound Chart 4hrs 9-30-2011
AUDNZD
The Aussie dollar continues to climb nicely against the Kiwi, providing a buying opportunity on strength, as mentioned in my last report. I remain bullish on AUDNZD and I think that a potential break above 1.28 should be a new opportunity to join the bulls
Australian Dollar Vs New Zealand Dollar Chart Daily 9-30-2011
AUDUSD
This looks bad if you’re one of those (like me) who thought that we’re dealing with a reversal a few days ago. No reversal yet as risk-off trade rules supreme and the markets continue to fall. The other correlated pairs such as AUDJPY, NZD crosses etc. posted a few days ago all look the same.
Australian Dollar vs US Dollar Chart Daily 9-30-2011
This is all for now, have a great day
thank's for report……..i read you every day and i like your report……….. :)
thanks for reading it ;)
AUD/USD.
I agree with you about the techs hinting towards bullishness previously, but it looks like the fundy coupling to China is over-riding this atm.
yep, it still looks tempting to buy it but I'm waiting for next week to start.
hello, happy birthday /
please let me know which indicator is in the bottom of the chart /
if this is the mACD please let me know the parameters.
thanks a lot
hi, thanks
it's a momentum indicator – more or less similar to the one you have in any platform
hi, happy birthday.
please let me know where do you usually put yr stops
do you have a pay website.?
depends on position size, average daily range of instrument etc
usually I don't risk more than 0.5% of total equity on a single trade and stop ranges are between 60 and 200 pips
no pay site, I don't sell anything
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