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Market is still immerse on the NFP figures.
We could set a sell order below yesterdays low
With stoch cross, a MACD pattern will come.
ISM in a few minutes and then congress vote.
Or you could wait as I 'm doing.
We could set a sell order below yesterdays low
If you took this one: 200 pips in a day.
Not bad for a double MACD pattern.
American Session Today
Important levels
Just made it...
Another very busy day. Yesterday was spent on financial markets, with a focus on the major stock indexes, which are still falling, in a clear sign of non confidence with all measures taken in recent days, which certainly have not been tiny, as the bailout plan approved by the U.S. Congress, and cut interest rates at the same time by the central banks of Europe and the United States.
Is not new that while the crisis growns on proportions, there is a large speculative element in these falls, with strong players who are looking to buy very cheap, and then to raise the expectations of a hike (through the media, financial advisors well " encouraged "by themselves, and so on.) sold quickly, seeking to generate chaos, we insist, can be present in these days, but is not this case a high degree of speculation.
Beyond the impression that all this generates, the fact is that the Dow Jones broke the barrier of 9000 points, reaching the time of this report points to 8580, with a strong bearish trend, and 8 consecutive days of falls. The same, even more, happened to European indexes, and the outlook is not good showing for the meeting on Friday, Asian indixes, led by the Nikkei in Tokyo, in which the opening of operations loses nothing less than a dramatic 12.4%, which could even lead to suspend the wheel.
In the currency market, the dollar returned to take power before major currencies, beginning with the British Pound, before which reached 1.7012 at the last minute, while the euro reached 1.3555, much more stable, and Yen, with the Nikkei index lower, approaching the 98 units per dollar at the start of the Asian session, after closing near that level session on Thursday.
On Friday, at 8:30 Eastern, the trade balance will be issued in the United States, whose deficit is looking slightly less than August.
The euro fell against the dollar, with a minimum at 1.3550, while the MACD indicator shows a divergence with the price curve, which indicates an upward correction next. To confirm it, the price to beat is 1.3610, on which are 1.3670, 1.3715 and 1.3780. The media, meanwhile, are at 1.3525, 1.3470 and 1.3440.
The Pound Sterling fell against the dollar, with a minimum at 1.7012, and broken by a few points in the session on Friday, playing at 1.7005. The 4-hour chart is maintained with bearish trend, with supports at the points 1.6960 and 1.6920, and 1.7070 and 1.7140 resistance.
The Yen rose again against the dollar, this time with a maximum at 98.50, up 98.12 point already expired, the highest so far in the Asian session on Friday. The 4-hour chart is oversold, but without significant reversal patterns, so that the next media in 98.10, 97.70 and 97.15. Instead, the resistors are at 99.00, 99.60 and 100.10.
We're going to have a complicated Friday...
On 08-17-2008, 11:08 AM
Cable is really easy, if MACD could sustain the read line break, 1.700 is target on next 6 months.
EURO is really interesting. Is reaching the projected target and the 50% fibo on next picture. MACD and fundamentals will take the EURO to 1994 high 1.4500. Then 2005 high is target.
This is my POV. Price just rebound to the weekly 23.6.
Please, see next picture of Nikkei focusing on begin of 1990's and compare with Dow today.
Currencies are on reaction about last day markets rebound.