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No doubt they'll disappoint next week, and that will be the point to short.

There seems a real incentive to sell the dollar at every opportunity. Despite another good set of results today, the effect wsa short-lived. So I wouldnt be surprised if the EUR/USD went a lot higher today. However, if the newsflow from the US still exceeds expectations, there is only so many...

The 1.2415 is the 38.2%Fib of all time high and recent low in the 1.16 area. Also declining top trendline comes in at that area.

No, I think the action is in EUR/USD, GBP/USD and AUD/USD. USD/CAD seems to be constrained by whats happening on other crosses at the moment.

Cheers. Surprised at the bounce though. But I think the close on this is crucial today. sub 1.2415 and we are going down.

Kastro, I think the action is elsewhere at the moment. But I agree with your sentiment on USD/CAD. I was surprised how good the numbers on confidence and home sales were today. Coupled with a rise in the 10yr. I think the market has underestimated the strength of the US economy, and I think it...

Unsure how Bush's SPR incentive will affect this cross, as you'd expect crude to fall long-term. But as crude is so tight, the effect might be short lived. If he wanted the price of oil to be low, why did he try and liberate iraq?

Stop hit yesterday at 1.135 - loss of 32pips

Short 1.242

I think if the EUR/USD cannot close above 1.2415 today, it is a short.

Not re-shorting yet. I am looking for around the 115.35 to go short. The only worrying thing on the yen charts is the gap down; you could argue these will be filled. But they could also act as resistance too.

It hit a high of 1.2415 just now, but no follow through. Interesting. I think its at a stasis at the moment as nobody wants to sell unless it breaks higher, and no-one wants to buy unless its a top. Therefore, staying away until the direction is more clear.

What level would you re-short?

Staying out at the mo. But you cant rule out it taking the 1.2415, but it is tough going, its had plenty of opportunity to do it today, this morning and now. I think the key is USD/JPY. As, if this falls, EUR/JPY falls and pressurises EUR/USD. So even if EUR/USD goes up, its going to held back...

closed long at 1.2404 for +54pips.

long 1.235

Closed short at 142.12 for +188pips

I think the gap will be corrected - a 100pip gap down. Just cannot put a timeframe on it.

Just shorted the 144 break. JPY is strong across the board

long 1.1383 stop 1.135 - Looking for a corrective bounce here.