Euro dollar fell to the lower end of the range after worries about global growth came from China: manufacturing returned to contraction zone. In addition, there are complications in the breakup of Dexia – the first European bank to fall due to the debt crisis. European bond yields remain at scary levels. A very busy day awaits us: European PMIs are followed by a big bulk of US figures just before…

Thanksgiving has always been a holiday in my family that we take the time to assess our lives, review the path we are on and practicing gratitude. We live in interesting times. If you have a gaze about far and wide it is not hard to ascertain what one needs to be grateful for.

Yesterday, I logged into trading way late and could not seem to get into sync. First down day that I have had in awhile. After I shut it down for the day having spoken to family about some of the things we were…

Up during the London morning, down during the London afternoon. That pattern has defined price action on the EUR/USD currency pair on several days over the past several weeks, and it applied today as well. The euro fell more than 80 pips from its high of the day, much of that move occuring during the first hour of the New York…

if breaks higher expect 3710-15 2moro
 if breaks down we should see 3330-40 2moro..

GL..

Traders no matter what system or indicator you are using, price action is King! I am a huge Ichimoku trader and find it very reliable but still you have to listen to what the market is telling you. Looking at the chart above I'll show you how the Ichimoku system said one thing and price action…

Currently the cross is @ 0.7472 .  We are sitting on support BUT…have built a bear flag which is bearish.  A break of the 0.7400 would indicate a move to the -0.270 Fib extension @ 0.7345.  Should it bounce here look to go up to the 0.7528.…

IF we can muster a move above 3578 we have a 3610 next and mostly importantly for today i see 3643-46 to nagate.. a move higher here would encourage it to close higher to it on the day and have a 3706 as next resis on charts as well..

so lets see, so far so good only if it can test 3610 within  a short span and not dripping under 3533 now...

will find out...



GL..…

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Gold and silver started the week with very sharp falls along with the rest of markets including other commodities and exchange rates. The U.S. budget reduction talks will likely to continue affecting bullion traders during the week. Today, the U.S. second estimate of the Q3 GDP report will be published, the minutes of the last FOMC meeting and the Canada's Core Retails Sales report. 

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Need the channel top to break here and to see AUD and euro pushed higher on stocks as well..

Currently within a wedge as well.. A break lower would benefit the USD here...

GL..…

expect a big move up once 3556-73 is taken out.. this would negate the HNS scenario to a larger extend and we could see a higher high then 3615 of last week...

GL....…

Potential target 1.3870....watch for a retest of the breakout line (1.3533)

Euro dollar is now trading in the higher end of the range. The US “Supercommittee” failed to reach a deal on a long term deficit reduction plan. While S&P and Moody’s have indicated that this wouldn’t change the rating, Fitch might still downgrade the US. The focus will likely return quickly to Europe, where bond yields are still elevated and Greece still hasn’t received the long awaited…

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and here is what i think. smaller time frames are all messed up. using an 8 hrs. have a descending wedge waitng to rip past 3533 for some goodies...

anyways 2 charts showing the comprehensive and an easy layout..

I expect 3533 to provide resis and if broken we can head higher.. offcourse this would be tallied up on 30 mins to see if no fake breakouts are coming or not....

GL..…

A risk-off mood in financial markets on both sides of the pond lifted the greenback to a new 6-week high against the loonie during today's New York morning session.

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Trade what you see!: EURUSD something will give.