12:50GMT The tweet entries for Next session first entries was hit in JPYs.
10:20GMT I think EURJPY made its low for current trend.. around 106.70ish as tweet was looking for 106.60ish
08:10GMT No major data till Thursday.. expect ride based on rumours. My instinct says JPYs are looking to do new lows..may be a long DOWN-Spike/DOWN-trend. Both GBPUSD & EURUSD showing down trend at this moment..
02:20GMT Good Morning Friends, At last EURUSD gave up. EURs looks like completed the drop and GBPs just started UP. It will be a interesting day with ECB members talking.
Tuesday, 7 September 2010
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I am looking for technical reasons not to hedge my longs.
ReplyDeleteThis drop looks like it does want to continue.
if you pick weekly and monthly charts of JPYs crosses and draw the fibo levels (2006-7 highs to 2008 Low) then you will see that 2009-10 was a rebound to 38.2% level and now we are hitting back at 14.1%. Its technical in Patterns but I think we are at the lowest point of C in (X,A,B,C,D). Next to watch is whether JP Govt does something or will they try new low. My tech-indicators shows that we are going UP soon BIG-Time.
ReplyDeleteBut my instinct says USDJPY will be tried for new low. So GBP & EUR must drive JPYs crosses UP. Complicated - yes this was the reason I was not recommending shorts/longs in My Forecast section today.. Thursday morning will be the best to decide.
ReplyDeleteBullish divergence on the D,8,4 of GJ?
ReplyDeleteCan we drop another 200 pips in a spike? I think yes.
J, how do you read GU? Is this the bottom? What is your midterm outlook? Thanks
ReplyDeleteMohi, I think RSIs must hit below 18 and my guess is that it should hit 1.5270-60ish for this.
ReplyDeleteThanks Jeeson
ReplyDelete