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Forex Forum Archive for 08/28/2010

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Melbourne Qindex 22:08 GMT August 28, 2010
CAD/JPY : Critical Resistance 82.95
CAD/JPY : Critical Resistance 82.95

The current expected trading range is 78.46 - 82.95. Resistant points are positioning at 82.13 and 82.76.

Agadir Anis 21:27 GMT August 28, 2010
Thought for next week

Stated otherwise, last week we've seen AUDUSD strenghen against CAD, GBP, EUR. I expect AUDUSD tone to be either weak or bearish next week. AUDUSD has used all its ammunitions and poses itself to either get hammered or trade with a sluggish tone next week;

Anis Agadir 20:51 GMT August 28, 2010
Thought for next week
Is last rally in AUDUSD a reversal signal? I think it is extremely optimistic to think so. AUD is overbought against CAD, AUD is Overbought against other majors. Any market shake down will have AUD heading south hence other majors along with it. Check AUDCAD, Will AUDCAD overcome that monster resistance? S&P will most likely experience another shake down? isn't the market still in a downtrend? Let's see what happens next week then.

Vienna GD 19:08 GMT August 28, 2010
Anybody ?

DS ... this low and reversal was expected - Link ... usdjpy bottomed exactly as expected. That exhaustion move south of the bullish rising wedge was nothing but a gift and free money.

Expect next high of USDJPY and Yen-crosses in between Sept 5th and Sept 8th +/- a few days.
From there down again with a retest of the lows and possibly/likely even lower lows. later in September. Those eventually will be the lows of the year for the yen.
Of course I could be wrong - hence DYOD

Richland QC Mailman 12:02 GMT August 28, 2010
Anybody ?

I think it all started when Japanese authorities have begun and intensified in their jawboning efforts to intervene. This has eased the pressure on the downside.

I would say the assumption of a short-term reversal will be: Monday closing above at least 85.50. but a break and a close above 86.50 will convince us that the downside move to 83.58/60 is already history. Traders will be eyeing 88 and 89.20 (38.2 and 50% fibo). We cannot overstretch more than this as it will be too theoretical even to predict that 95 is already in the offing far into the future.

Nevertheless, we are willing to ride this plane.

BERN DS 10:16 GMT August 28, 2010
Anybody ?
Just found this interesting article on eventual turn in USDJPY , wondering if there are any takers on such ? Quite frankly, I am a bit sceptical -- but expect the unexpected and this sharp reversal in EURJPY on Friday , with a rising USDJPY was for me the first sign of a such happening... will be crazy next week... good weekend to all !

Amman wfakhoury 07:09 GMT August 28, 2010
AUD/USD 140 pips

HK [email protected] 01:49 GMT August 28, 2010
Profitmaker sys made 140pips during friday.
the rule buy if price breaks up the green or red level and the
strength bar in green tp 20 pips on chart.
price broke level 7 times X20 pips

GVI Forex Blog 02:22 GMT August 28, 2010 Reply   

Treasury Bonds Posts Rare Combo Reversal

HK [email protected] 01:49 GMT August 28, 2010
With all the analysts calling "bear bear" for AUD/USD to drop to ~0.86 and NZD to about 0.68, no wonder that Friday reaction was so sharp.

Next week the trend will continue to victimize all those whom followed them and shorted the pairs.

And God will help those whom listen to other FX advisers.

GVI Forex Blog 00:25 GMT August 28, 2010 Reply   
Canada's dollar jumped against the U.S. currency on Friday while bond prices tumbled after investors looked on the bright side of a downbeat assessment of the global economy by Federal Reserve

Forex Market News - CANADA FX DEBT-C$ jumps, bonds slump after Bernanke comments

GVI Forex Blog 00:24 GMT August 28, 2010 Reply   
The dollar rose against the yen and the Swiss franc on Friday after U.S. Federal Reserve Chairman Ben Bernanke said the Fed was prepared to provide stimulus to boost a U.S. economic recovery that had slowed more than expected, but did not say how or when.

FOREX NEWS - Dollar gains versus yen, Swiss franc after Bernanke

GVI Forex Jay 00:19 GMT August 28, 2010
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