Expert Quotes Weekly validation updates

James Chen
November 3, 2009 at 16:40
Price action on EUR/USD, a daily chart of which is shown, has finally made a tentative breakdown below the key uptrend support line extending from the March lows. While this downside breach is significant and raises important questions as to the future direction of this pair, the prevailing uptrend is still technically considered to be intact. Today’s breach represents a weakening of conviction on the part of the EUR/USD bulls (dollar bears), and suggests indecision in the market and a potential continued consolidation

Ross Yamashita
November 3, 2009 at 4:29
For the EUR/USD, it seems we may potentially be forming a triangle formation - which, if is indeed the case, we will see a continuation down in the shorter term.[+ve]
We were also running some different analysis and figures and saw that we may potentially see the EUR/USD hit the 1.5600 mark again.
Do you think it could do that? Well, if we’re seeing a triangle formation here, this means that the movement down cannot be a Wave 2 of an impulse. So, it seems as though we’re in a corrective phase and will see more short term down pressure followed by a long move upward.Keep in mind we have the FOMC announcement on Wednesday and the NFP on Friday.

Kshitij Consultancy Service Team
Nov 4 2009, 03:33 GMT
Some recovery in the Euro, Aussie and Swissy today, after lows seen in the US session yesterday. Further strength or consolidation may be possible [+ve]
The Euro trades near 1.4725, up 100 pips from a low near 1.4625. The Aussie (0.9017) has been seen buyin in the 0.8905-15 region over the last two days. Dollar-Swiss (1.0260) has moved back down below 1.03 after spiking to 1.0340 yesterday. Dollar-Yen (90.25) has remained stable since yesterday, between 89.85-90.60. The Pound (1.6415) has bounced, like the Euro, from a US-session dive to a low near 1.6260.

Dr S Sivaraman
November 4, 2009 at 6:51
EURO and GBP are expected to swing near high during early Japanese session[+ve]
to slide towards close.[-ve]
They are expected to firm up during early European session[+ve]
and then slide and drop till close of European session.Then after further dip during early US session they are expected to firmup to middle level during mid US session.
During FOMC data release time they are expected to make volatile moves and then slide.I will give the updates again with details of expected moves just before and after FOMC data release time.
November 3, 2009 at 14:19
Euro and GBP are expected to drop more after brief pull back during start of US session.[-ve]
They may be sell opportunities near initial lows of the day set during early japanese session.[-ve]
Tomorrow, for FOMC rate decision, before hand  the market is expected to swing and slide more to net permissable level of the day
and  then expected to make volatile moves during FOMC rate announcement time to drop more for BOE and ECB rate announcements expected to be announced day after tomorrow.
Then further drop for NFP data release.

FXMarketAlerts Team
Nov 4 2009, 02:55 GMT
USD/JPY at 90.17-20, could rise should Fed FOMC tweak its FOMC statement at 1915GMT, from "extended period" (see earlier flows on FT Fed Watcher Krishna Guha), Cross/JPY could rally too. AUD/JPY at 81.15-20, with BoJ seen keeping rates near zero for "extend period" still.USD/JPY bids at 89.80-90.00, stops above 90.50-55, then 90.85/91.05 above offers. AUD/JPY eye 82.00.WL4 Nov 2009AUD/JPY

César B. Leiceaga,
November 3, 2009 at 8:45
I took shorts at EUR/GBP 0,9052 and already moved my stop-loss to breakeven to limit my risk. [+ve]
The first proposed option:
I’ve also added a new target to my plan, bearing in mind the fast reversal from resistance area. This target refers to the previous swing low made last week at 0,8910, in this case my order is placed above at 0,8920 to secure my take profit order.