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Euro: we have a recent doji on H1 precisely on the same level where the price was rejected on last friday. Strong level to break. Wait for MACD cross on H4.
H1 MACD shows a strong divergence and Stochastic is OS.
Kiwi is almost like Aussie
Some systems to come, soon directly from top experienced traders
I'm looking for something to trade M30 because we don't have many systems for that period.
Meanwhile last touches to coming trading systems are given. Let's examine current situation.
First on GBPUSD:
Cable rebounded last week as Euro, Aussie, Kiwi and others.
Weekly stochastic have crossed up. We should see a rebound to 38.2 fibo? Probably.
Both, Pictures, Euro and Cable, are pointing to that forecast
Meanwhile Euro dailies shows the end of the MACD pattern. Cable also shows a MACD Cross.
However, markets needs to breath after last shake and this corrections are part of the cycle.
Another report, a very good one for the coming week:
Amid mixed data for the U.S. economy, the Dollar fell to the major currencies on Friday. The basic reason was the fragility presented in recent days by bank Lehman Brothers investment, and whose shares fell 90%, at a time that the Fed and representatives of other banks are seeking an emergency solution, to avoid bankruptcy. An announcement known last Sunday noon New York, left almost in a state of liquidation at Lehman, the departing British giant Barclays of the Rescue conversation aimed at the first. This latest news time can generate a massive sale of dollars in the Asian session on Monday.
The retail sales and wholesale inflation also contributed to the fall of the dollar, far from losing its upward trend, is located in a corrective movement, waited on the other hand.
The index of consumer confidence preliminary University Michigan grew to more than several months, but did not hit the U.S. currency trend to change daily.
By Monday, the ECB's speech, Trichet, at 5:00 Eastern, and manufacturing index data from New York at 8:30 and rates industrial production and capacity utilization at 9:15, will be the macroeconomic data to continue in the meeting. Clearly, interest week will be on the meeting of the FOMC, which on Tuesday by the then define the interest rate.
The euro rebounded against the dollar, with a maximum at 1.4223, closing
in the American session in the afternoon. The daily figure is now with upside signals, which announced a continuation in the movement the price upward. Trend continues in upward, albeit with some signs of exhaustion. The next resistances are located at 1.4250 and 1.4280, bearish trend line in daily graphics. The supports are located at 1.4180 and 1.4150.
The Pound Sterling recovered to the dollar on Friday, with a maximum
at 1.7958, introducing the figure of 4 hours, a very bullish trend ticked after break, 1.7730, the bearish trend line that guided the price until then. However, could occur a downward correction in the early hours of Monday, with media in 1.7910 and 1.7865 points. The resistances, as are the points
1.8000, 1.8050 and 1.8080.
The Yen fell against the dollar, with a minimum at 107.88, while maintaining the and the daily figure of 4 hours an upward trend, which could extend the fall of the Japanese currency at the upcoming hours. The resistances are at 108.10 and 108.60. Instead, the media is at 107.10 and 106.80.
Linuxser,
What are these lines? Can you post this indi please?
Linuxser, What are these lines? Can you post this indi please?
Is the standard MACD from the Elite indicator thread: https://www.mql5.com/en/forum/general
Hi Brother
Seems the market is worried for the massive bailout coming at the rescue of WS boys.
Well, 700 billion is a lot of money. Where that money come form must be thinking many. And we know printed money does not have any other value than the paper is which was printed.
I recommend do nothing during this night until WS opens. We will see.
German IFO on next Wed is key.
Euro just broken a key Res level, see green line. Not confirmed but broken anyway.
Problem is:
upside target is 1.5200.
1.5200 is 61.8 Fibo of 1.6037/1.3877
Comments for next week
From same source as past posts:
A week which will be divided between September and October, ending a month that is hardly forgettable. The crisis affecting the financial sector globally, especially the U.S., is generating moderated movements in the currency market, in which only the macro-economic reports are giving some clear signs, but the very short term.
Is not in sight, for now, a sustainable solution to the financial crisis. On Sunday, the U.S. Congress is working at full speed to agree on the approval of the bailout package requested by the Government, and implemented in conjunction with the authorities of the Federal Reserve. But even in the case of an approval, which is required in every possible way by President Bush, the problem is far from settled yet, although it is true that, at least in the short term, it could put a floor to the crisis, and cut with the climate of mistrust and uncertainty.
The fall last Thursday, Washington Mutual, the largest savings bank in the U.S., accentuated the state of insecurity which govern in the financial market, and according to the FDIC, an official entity that guarantees the deposits of savers, more than 110 Banks are in a similar situation, which further clouds the outlook of the industry.
But the currency market continues, and is preparing for a week, if approved the package of measures referred to the Sunday before the opening of Asian markets could open with movements clearly favorable to the dollar, with gaps start on time , Which will gradually cover. If not, the movement will be much more dimensional, given that on Monday, only the data of personal income and spending in the United States are the major reports to be followed, at 8:30 Eastern.
From a technical viewpoint, the euro fell slightly against the dollar, after reaching the minimum 1.4554, which continues to be a figure which in principle is looming as a continuing upward trend, both in the daily chart and in the 4-hour.
For the meeting on Monday, the latter appears with a slight upward trend, which will be confirmed at the break of 1.4630, the first line of resistance and bearish trend, and followed by 1.4680 and 1.4705. The media, meanwhile, are located at 1.4550 and 1.4510.
The British Pound closed Friday unchanged against the dollar in a move that in the daily chart, is still guided by a bullish trend line, and that it sought the minimum price on Friday.
The 4-hour chart presents the trend is upward, with next resistance at the 1.8475, 1.8535 and 1.8560. For his part, the supports are at 1.8355 and 1.8310.
The Yen fell slightly against the dollar on Friday, despite the full 105.03 that was reached in the early hours of the day.
The daily chart accentuates this way an upward trend, accompanied by a similar trend in the figure of 4 hours, which for the next few hours, presents resistance at 106.35 points, 106.65 and 107.00. Instead, the points of support are at 105.55 and 105.15.
Cable recap
On this pictures we see a unconfirmed MACD pattern. If MACD crosses on H1 we could enter short. Target is our H4 level.