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  1. Pair of factors help lift EUR/USD, EUR/JPY

    by , 09-12-2008 at 07:53 AM (FXBriefs - Tomorrow's conventional wisdom today!)
    Unwinding of the “Armageddon trade” (short EUR/JPY) has helped boost EUR/USD and EUR/JPY. News that the Fed and Treasury are nursing Lehman through a sale takes any risk of a catastrophic collapse off the table. Despite the fact that a Bear Stearns-like failure was unlikely given Lehman’s access to the discount window, the market likes to latch onto a simple story and drive it to its logical extreme.

    The other factor boosting EUR/USD were reports in the Chinese press saying China may cut its exposure to the US in the wake of the Freddie/Fannie takeovers. This near-death experience has supposedly alerted China to the need to diversify reserves. according to a Chinese investment bank. My guess is this is precisely wrong. Like ...
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  2. Table of Technical Extreme Levels @ 09:05GMT

    by , 09-12-2008 at 05:16 AM (PIPmania.com - Tony Juste's Live! FOREX Market Coverage)
    PAIR TIMEFRAME EXTREME OS EXTREME OB CURRENT
    EUR/USD 30m 1.3922 1.4133 1.4110
    GBP/USD 30m 1.7486 1.7732 1.7710
    USD/JPY 30m 106.46 108.06 107.54
    USD/CHF 30m 1.1284 1.1435 1.1336
    AUD/USD 60m 0.7838 0.8160 0.7932
    EUR/JPY 60m 147.38 152.47 151.60
    GBP/JPY 60m 185.17 191.30 190.37
    EUR/CHF 30m 1.5864 1.6007 1.6003
    EUR/GBP 60m 0.7902 0.8024 0.7965

    *Note how extreme values have so far capped Euro and Cable and are a must watch for the hours ahead. USD/CHF should see its OS level.

    * All valid through the next 4-7 candle closings.
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  3. At the Open. Battling for techs.

    by , 09-12-2008 at 04:33 AM (PIPmania.com - Tony Juste's Live! FOREX Market Coverage)
    USD giving back some of the recent gains as technicals rise afloat. I will start commenting on our open positions as we have some actions to take.

    Download audio1_12092008.mp3
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  4. Forex analysis, Sept 12th European session

    by , 09-12-2008 at 01:57 AM (Currency Majors Technical Analysis)
    [SIZE="5"]EUR/USD - Euro Dollar[/SIZE]
    1,4016. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,4050. The downtrend should continue to gather momentum. => We could take a short position at 1,4010. We will put the stop loss above 1,4090 (-80 pips). The targets are 1,3900 (+110 pips) 1,3820 (+190 pips). [b]Each trade is dangerous, take care and put your stop loss[/b]. Trade configuration (1 Speculative -> 4 Trend following): [b]3[/b].
    [INDENT][B]Resistances[/B]
    1,4050 - 1,4090 ...
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