EUR

fastpips..
i think u missed the train with eur chf...
so consider going short eur usd...
i was short yesterday from 1,2400..closed the small dip, i found that as a wawe b of abc correction...and now i am short from 1,2600..but not pretty sure, coz wawe c could 5 wawes up , where that 5th could get to 1,2690/2740..
in every case i ll hold to my position and make another order at 1,2690..from where my target will be mr.Ashrafs expected 1,17..
I have never made 1000 pips...co I hope this is my time:-)

gl to all

USD - USD Making Strong Gains against Exotic Currencies

The US Dollar has seen mixed results these past few days. Against its primary rival, the EUR, the greenback has been in a mild downward corrective pattern; falling back down to as low as 1.2645 against the 16-nation single currency. On the other hand, the USD has risen against most of the more exotic currencies by significant leaps and bounds.

Against the Australian Dollar, the buck has risen from a low of 0.9400 just two weeks ago to now trade below 0.8200. A comparative rise can be seen against the New Zealand Dollar, with an increase from 0.7320 to 0.6667. The USD/CAD likewise went from just under parity to now trade 700 pips higher at 1.0698. The flight away from riskier assets appears to be benefiting the USD significantly.

A heavy amount of market uncertainty remains at the moment. The European Monetary Union, in conjunction with the IMF and European Union, has taken steps to strengthen the Euro-Zone. However, this measure has only served to temporarily halt the EURs recent downturn. Whether or not it can fix the larger issues remains to be seen.

Today we will be experiencing a flurry of market activity. The Euro-Zone, Switzerland, and Great Britain are all scheduled to release a vast string of data releases which should fill in many of the gaps which traders feel uncertain about at the moment. Todays data may help clarify the direction of the market for next week. Traders wont want to miss out on these movements.

EUR - EUR Experiencing Rapid Recovery

The EUR has reemerged these past couple of trading days. Few analysts were anticipating such a rapid bounce-back in the value of the EUR by this time last week. Now, however, it seems as if this rise has left some feeling uneasy. Upward corrections to such a sustained downward movement are to be expected, analysts have stated, but n the other hand, there is a concern that these sharp swings represent instability, and have a number of investors worried as a result.

The EUR made a solid rebound against some of the riskier currencies, such as the CAD, AUD, and NZD. The most significant bounce was no doubt against the US Dollar. The EUR/USD currency pair struck a low mark under 1.2200. The pair now trades over 400 pips higher with a price of 1.2633 as of this morning. The other most noticeable gain was the EUR/AUD which spiked over 1,200 pips in just 2 days and currently trades at 1.5298, up from just under 1.4000.

Europe is expected to publish its series of data releases on manufacturing and services data from across the region. This data should help fill in some of the gaps investors have been concerned about lately. Germany will also be releasing its Germany Ifo Business Climate report at 08:00 GMT. If confidence in Germany is indeed on the rise, as is forecast, we could see the EURs rebound sustain itself into the end of this weeks trading.

JPY - JPY Gaining on Risk-Aversion; Strengthening Should Continue

A clear sign that the economy is in severe flight from risk is the massive surge in the value of the Japanese Yen against every currency pair these past few days. Even against the resurgent Euro, the JPY has managed to gain over 1,500 pips by moving from 128.85 to 112.78 in just 2 weeks. The Yen has been strengthening against most currencies for some time now. The latest spike only mirrors the markets move away from riskier currencies and into safe-havens.

News from Japan will not likely have a significant impact on the value of the Yen. At this point the market is simply pushing its assets into safe-havens such as the USD and JPY and little that Japan can say or do will change this for the time being. Traders should be focusing on the news from Europe considering that the Euro-Zone has been the key player in market sentiment these past few weeks.

Crude Oil - Crude Oil Expected to Continue Falling

The price of Spot Crude Oil continues to plummet due to the momentum-gaining strength of the US Dollar. Despite the EURs recent progress against most other currencies, the spiking value of the greenback seems to appear as if its here to stay, for now. What this means is that commodities are beginning to reflect the loss in value that is inherent in this valuation of the USD.

The finance ministers from OPEC nations have made statements about potential future meetings to discuss production levels to combat the recent trend, but most speculators claim that the oil cartel is in a very weak position to change the price of oil at this point in time. Market forces seem to be favoring safe-haven investments like the USD and JPY, oil will continue to be on the losing side of this equation so long as the greenback is on the winning side.

Dealers during the NY session said that offers were particularly heavy around the 1.2600 region and we are currently retesting that area. Talk of heavy stops above 1.2620 and buying dips still looks like the way to go in this short-covering environment. Stops now done above .8750 in EUR/GBP and option plays drove EUR/CHF higher.

Many thanks for the updates and it seems that short-covering by hedge funds and options players in the CHF is responsible for the gaps higher. Its going to be a volatile end to the week.

Importantly we need someone like Ashraf to comment, otherwise we r in blind especially me

Well, with all this talk of bloodbaths, impossibly violent swings and a feeling of a lull before the battle, what came to mind was the famous speech from Henry V:

[...]
"That he which hath no stomach to this fight,
Let him depart; his passport shall be made,
And crowns for convoy put into his purse;
We would not die in that man's company
That fears his fellowship to die with us.
This day is call'd the feast of Crispian.
He that outlives this day, and comes safe home,
Will stand a tip-toe when this day is nam'd,
And rouse him at the name of Crispian. "
[...]
"We few, we happy few, we band of brothers;
For he to-day that sheds his blood with me
Shall be my brother; be he ne'er so vile,
This day shall gentle his condition;
And gentlemen in England now-a-bed
Shall think themselves accurs'd they were not here,
And hold their manhoods cheap whiles any speaks
That fought with us upon Saint Crispin's day."

[The rest plus background story is at:http://www.chronique.com/Library/Knights/crispen.htm ]