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Euro at top of daily channel or threatening to break out of it?
Pullback tomorrow? and then Bernake is out tomorrow night?

What on earth happened there?

Gone into orbit!

At least I was long :-))

Oops, had a freak mouse accident on Thursday and ended up short!! Have to start again now. :-(

Anyway, my chart tells me that this is the top for now (18250 ish) and should pull back from here. Target 18100. If it keeps going, who knows?

pth

Well I'm not going to go through the whole pairs' gamut here.

The ones that interest me are the Loonie (which is at 1992 lows now) the Swissie, which has broken through its little uptrend from the beginning of 2005, the Yen which is (maybe) close to breaking its little upthingie from the same period - and then there are these two:



There's no line of resistance left - well that's stating the obvious :)

My indicators ain't sayin' it - but I'm short since Friday night.
At least for a wee while :)

Harlosh,

I'd be interested in your take of the P&F chart this morning. I don't know if you had your charts open yesterday, but the feed was working throughout the day and then seemed to switch off yesterday evening and remove all of the data for the day including the high above 1.84. The historical data for yesterday is not available today and the fresh data only seems to start from midnight.

The effect of these missing columns has been to keep the price action above the rising trend line on the 1 minute since Thursday. Obviously it's going up again this morning, so it's possibly not that major an issuse but the chart would look completely different if the data were complete. Certainly, the uptrend would have been broken during the pullback yesterday pm and evening and I don't know whether or not the subsequent downtrend would have also yet been broken if you understand what I mean.

Hilary,

I was away most of yesterday but I was informed of the high you mention and was surprised that I could not see it on my chart either. Disconcerting to say the least. I'll mail them and see what they have to say.

Thanks, H. I'll be interested to learn what they say.

Hilary,

Would you believe their servers are not set up to save data on PH's? No I can't either but that is the reason why. They have promised to look at it

Thanks for that, H. I don't really know what to make of that.

In practise, it probably won't have made any difference whatsoever because you'd have switched your screens off on Friday night leaving the long open with a stop loss in place and you'd still be in the position on Tuesday morning when you switched the screens back on again because the stop hadn't been hit.

Unfortunately Hilary I was away all weekend so none of that applies to me :-((

Its been another mental day on the forex front with cable up about 200pips from this mornings lows. Both 5 mins and 1hr charts are in a very strong uptrends.

What did I get up to? Not very much to be precise. Only caught about 25 of those 200ish pips. Pretty poor trading really. Just shows that if you'd stayed on the trend from weeks ago you'd be several hundred pips up by now!!

I think you are hard on yourself Bak. Trying to trade in between work breaks is hard going at the best of times.

There are so many ways of doing this, Bak. And the fact is, you made 25 pips, which is great! Out of the whole weekend, yesterday was a free day for me where I actually thought I might get off for a bit of retail therapy - but heyy, I got stuck in front of the screen and it turned into a great day - last night when I left my final trade on after 5pm was a total bonus when I was least expecting it.

Back to work again today, but only after trading it both ways again this morning, just on the MACDs.

Oh yes ... I made 6 pips early yesterday after adding to the residue of my left-over cable short from Friday night :)
And I certainly didn't get all of the moves yesterday whilst I was trying to get a feel - but enough to leave me not missing getting to the sales ;)


Bernanke slips on Bartiromo peel - UPDATE 1

Harlosh,

I sent you a am internal wotsit yesterday ......... trust that you received it OK.

In addition, I asked them about the price action habitually disappearing up the graph paper and sent them a couple of screenshots. They replied that it's because my settings are 0.5 pip to a box which is below the minimum allowed. Personally I think that's a load of gobbledegook as there's no point in even offering settings which are that small if they don't work.

I'm intending to reply, so I'll let you know how I get on.

Yes I did Hilary, I have done that already but thanks very much anyway.

Yes I agree re the disappearing charts. They have suggested other things to me which have completely failed. I am currently plagued by it as it seems to be worse than ever. It seems to happens more when the price is moving fast - I don't know whether you find that too. Needless to say nothing they have suggested has worked. They say they are unable to recreate the problem at their end - which I think is code for "It's your fault not ours" I think the only option is to lodge a complaint via customer services but other than that I am at a loss I'm afraid.

H,

At the end of each 1 minute increment when it prints the O's and X's, the whole page seems to refresh as it also realigns the trend lines and prints targets at that stage as well. It's as it completes the refresh that it sometimes goes all wonky regardless of how slow or fast the market is.

Anyone going to start an FOT thread?

[12:18 US ECON: New National Employment Report Says NFP Up 178k in Apr] Boston,
May 3. A new employment survey from ADP and Macroeconomic Advisers says private
nonfarm payroll employment rose by 178k in April. Over the last four months,
the pool has estimated total private nonfarm job growth of roughly 200k while
the BLS has reported an average of 178k during that span. That suggests
Friday's number could fall short of the 200k median from IFR's weekly economist
survey. Public-sector payrolls rose by 35k in February and by 24k in March.
The average increase in 2005 was 14k, so adding an estimated 20k for April
leaves total NFP at 198k. But, because the ADP/MA figures have run consistently
above those in the BLS report, the indication is that total payrolls will come
at roughly 175k when reported Friday.