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Trading Excellence
- Thread starter FXAnalyst
- Start date
EUR/AUD has hit a bouncepoint and the Elliot Pattern shows rise of at least 50 pips from7272 area conservatively although 7400 is a more likely target area.
GBP/JPY should work higher long term after correction, an ABC down with "A" already complete, down from today's high. The "B" up is now underway with "C" down to about 193.00 then up to hew highs.
GBP/JPY should work higher long term after correction, an ABC down with "A" already complete, down from today's high. The "B" up is now underway with "C" down to about 193.00 then up to hew highs.
Quote from FXAnalyst:
EUR/AUD has hit a bouncepoint and the Elliot Pattern shows rise of at least 50 pips from7272 area conservatively although 7400 is a more likely target area.
GBP/JPY should work higher long term after correction, an ABC down with "A" already complete, down from today's high. The "B" up is now underway with "C" down to about 193.00 then up to hew highs.
The EUR/AUD rose as expected with conservative target met. The G/J dropped unexpectedly more. It should bounce up higher than current 188.65 before resuming drop to double bottom or lower.
AUD/CHF is near a bouncepoint at 9035 and should be good for 30+ pips up before resuming downtrend. I wait for 9025ish and will target 9070.
The patterns seem to indicate that a anti-USD trend is established for larger swings before any significant return to pro USD sentiment made manifest.
I'll watch for a breakout of G/U above 8400 to significantly higher highs for next week over this one. Pairs should retrace a bit first before breaking to more distant ground with larger trend as seen today.
I'll watch for a breakout of G/U above 8400 to significantly higher highs for next week over this one. Pairs should retrace a bit first before breaking to more distant ground with larger trend as seen today.
Russia, China Lead Emerging Market Decline, Ending Record Rally
By Lester Pimentel, Emma O'Brien and Denis Maternovsky
Sept. 23 (Bloomberg) -- Stocks and bonds fell in Moscow and Shanghai, halting a record emerging-markets rally, as investors became concerned that the U.S. Treasury's $700 billion rescue plan won't be enough to prevent a worldwide recession.
By Lester Pimentel, Emma O'Brien and Denis Maternovsky
Sept. 23 (Bloomberg) -- Stocks and bonds fell in Moscow and Shanghai, halting a record emerging-markets rally, as investors became concerned that the U.S. Treasury's $700 billion rescue plan won't be enough to prevent a worldwide recession.
Australia, New Zealand Dollars Reach 3-Week Highs as Gold Rises
By Candice Zachariahs
Sept. 23 (Bloomberg) -- The Australian and New Zealand dollars reached their highest in three weeks as prices rose for commodities the nations export and the U.S. currency slid on concern the world's biggest economy is headed for a recession.
The South-Pacific currencies rose as the UBS Bloomberg Constant Maturity Commodity index of 26 raw materials advanced by the most in a month. The greenback weakened against the euro in New York on concern a $700 billion plan to buy troubled assets from banks will inflate the budget deficit.
By Candice Zachariahs
Sept. 23 (Bloomberg) -- The Australian and New Zealand dollars reached their highest in three weeks as prices rose for commodities the nations export and the U.S. currency slid on concern the world's biggest economy is headed for a recession.
The South-Pacific currencies rose as the UBS Bloomberg Constant Maturity Commodity index of 26 raw materials advanced by the most in a month. The greenback weakened against the euro in New York on concern a $700 billion plan to buy troubled assets from banks will inflate the budget deficit.