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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Wednesday, June 9, 2010

OUTLOOK on the EURO/USD , will reversal continue toward the 1.2130 (The currency pair historical midpoint) ??

After Careful review on the Wed session for EURO/USD, we observed that the mild reversal did hit the Daily upper trend line(1.2060), then it lost its momentum and back to 1.1956, and continuing its side-- way movements thereafter.
For equities, the Dow Jones Industrial Average temporarily climbed above the psychologically important 10,000 level before retracing its gains and ending the session in the red. And, despite the remarkable performance for the active NYMEX oil futures contract, it would nonetheless hovering in the region of $74.00
FROM THE ABOVE,, we are reminded that volatility is still exceptionally high; yet, the dominant bear trend is still firmly rooted. It just so happens that we are going through a period of congestion whereby the market is more responsive to fits of optimistic news.My opinion is that the Most liquid currency pair,EURO/USD is still in the Bearish Trend, and I will look for Many Opportunities to SELL ON RECOVERY.
The first chart below showed the momentous breaking of the intraday uptrend line, then reversed its course toward back to 1.1956.


The second chart shows that there is a upside Ich cloud capped at 1.2060, and it is recommended that you wait for its RECOVERY near 1.2060-1.2100, then SELL the pair accordingly...




I have an interesting report entitled" Preparing for the breakup  of Euro Union"
Please go to my below link:--
http://docs.google.com/fileview?id=0B74IMi--bRpKMzRlYmY2OTgtMDFiMi00NTJmLTk5YTAtNzky
NWJlZjRkNGNk&hl=en






Happy Trading
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4 comments:

  1. MingJune 10, 2010 at 12:04 AM

    Hi, could you comment on AUD/MYR? Thinking of buying AUD for a period <1 month

    ReplyDelete
  2. kyongJune 11, 2010 at 12:52 AM

    Hi, Chang,

    The AUD has been weakening against both the USD and MYR over the last four-eight weeks, from a high of RM 3.15(NOV 09) TO RM2.7710 (Today, FRIDAY 15:38 ,,11,JUNE-2010) FOR ONE$1(AUD)..

    Our MYR will be rather firm vs both the AUD AND USD mid terms(Bullish on MYR OUTLOOK)

    Australia Mineral exports may be affected by the Financial soft landing in China, and its Gold price should head for moderate down turns, In short, Aud is Bearish short terms.

    For Malaysia, In view of its good GDP and possible upward revision by another 0.25% interest increments in July/Aug, so MYR may be Bullish short terms.

    I therefore propose that you defer your action and wait for the reversal on Markets sentiments, Before you make your decision to BUY AUD, may be you may get them very much cheaper in the next few weeks...

    Thanks

    ReplyDelete
  3. kyongJune 11, 2010 at 1:28 AM

    Hi, Chang,

    You may go to this link to view the AUD/MYR chart:

    http://docs.google.com/leaf?id=0B74IMi--bRpKZWQwODc5YWItNzk1ZS00YTBlLTkwMmMtNTY3NDE1MmNlZjdh&hl=en

    Then you will see that at 2.600 on 21-May-2010 WHICH may serve as a guide for good BUY.......May be around 2.5000 YOU shall start to accumulate....

    THANKS

    ReplyDelete
  4. MingJune 11, 2010 at 5:55 PM

    Thank you for your comments Kyong.

    ReplyDelete

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