Durable goods up tomorrow, could see some action in the EUR/USD.

The orders brought Boeing's tally to 417 at the end of May, pushing its total for the year so far to 429 at June 6. That is more than double the number for rival Airbus, which said on Thursday it had a total of 201 orders for the year at the end of last month.

Reuters Article

Thanks Lava.
That was really impressive! I do trade Euro.


Weekly Trend direction: Bullish

Weekly trend reversal level: 1.3360

Strategy: Whilst above the weekly trend reversal level, buy dips to support levels after an entry signal.

Medium term: The euro has broken above the large flag formation which has dominated the technical picture in 2006. Now, whilst above 1.2900 (1.2800 max), the euro remains in an uptrend which is heading back towards 1.3667, the multi-year high, and possibly higher still, towards 1.4100.

Today's trade suggestion: An amazingly small 35 pip range yesterday did little to change the analysis, and hopefully serves as a continuation of the rally: A bullish week last week after the previous week's "spike low" from support, and now we are holding up around 1.3470 rather nicely. We need to break through tough resistance at 1.3500 early this week (786 Fibonacci resistance, previous barrier, and 10 week SMA) and then on towards 1.3550, and it's probably only a matter of time before we get a new all-time high at 1.3700. Continue to look to buy into dips this week whilst above 1.3360, with key support at the weekly low near 1.3370. Only below here changes our outlook.

Key G7 Support levels: 1.3370
EUR/USD Hourly chart:

Attached: EUR/USD hourly/weekly charts
keep trading...

Attached Images

  

EUR-USD appears to be a good buy at the moment as it just broke a Fib level. See the chart: target 1.3489 for the moment.

Attached Images

 

German unemployment due for release tomorrow morning along with Eurozone retail PMI - could deliver a breakout in the Euro. Even though the German IFO and ZEW have been weaker, French growth has been decent and the consumer IFO increased. There is a chance for a stronger report. This would support your target of 1.3489 pkononenko

Something tells me the FED will change their statement after they HOLD once again in such a way that they cover their "A" in case there is a HARD landing in housing. That just might open the door to a possible rate cut and this should send the US Dollar down.

We will see tomorrow at 2:15 PM

Good Trading All

True Warren...we might be in for a "BIG" surprise....EUR has been soooo slow and boring to trade lets see if there can be some movements with the FED statement.

long GBP 9984..............OPEN
long AUS 8409.............OPEN
long NZD 7629.............OPEN

Breeze

__________________
Warning follow @ own risk...I dont use stop loss I hedge

In the news: (Monday: 25th Jun)
The battle between US Dollar(USD) and Japanese Yen(JPY) came to an end after 'the fall in the currency value of Dollar' when a drop in the stocks was recorded. There has been a high correlation between the two currencies in recent past. This has resulted in huge nervousness among the investors.

long GBP 9984..............OPEN..............closed @ 20034....Prfts bkd
long AUS 8409.............OPEN...............closed @ 8439.....Prfts bkd
long NZD 7629.............OPEN...............closed @ 7659.....Prfts bkd

Breeze

__________________
Warning follow @ own risk...I dont use stop loss I hedge

On interesting thing to consider. Conventional wisdom states that if the Fed is in any way dovish due to continued depressive effects of the housing market the DOW will rally to 14K and take USDJPY with it. But what if it doesn't? What if equity investors finally realize that Fed easing suggests that economy may tip into recession and sell stocks after a knee jerk bounce? The dollar could lose ground against both euro and yen in that case.

The Federal Reserve left interest rates unchanged at 5.25 percent for the 12th consecutive month. Although recent economic data clearly indicates that the US economy is deteriorating, the statement confirms that the Federal Reserve is far more concerned about inflation than growth.

For more on what to take from the FOMC Statement, see our Instant Insight

Up next tomorrow morning is personal income, personal spending, here's some info on How to Trade the Release Using the EUR/USD

Hello Everyone


IMO we are now waiting to break strong active Gann resistance at 3478
befoe attaining the next target R of 3551

GT -arco

Hello everyone, Greetings from Philippines!

Friday 29th, 2h15 GMT
At this point of time the downtrend 4h-channel still intact. I am not expecting a break above 1.3480. If pair consolidate below 1.3434 before US session I favor a bearish scenario. Please see file attached.

Regards!

Attached Images

 

Today's US calendar has personal income/personal spending. Rather than watching the numbers watch the spread. If we get a negative spread (spending larger than income) for the second month in a row that would indicate that teh consumer is tapped out and could hurt the dollar. One possible offset is if the PCE deflator prints hotter than expected.

Post 173

Reached max of 3540, so pretty close - Mondays active
resistance Gann moves to 3558, and this may be hard
to penitrate on first attempt.

Gt - arco

The next resistance fore EUR is around 1.3550,then up at 1.3563-87 area.