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EUR/USD

Important resistance is seen in the 1.3268 area. Support was found in the 1.3205-1.3215 area (trend line of 1.3183 thru 1.3193) and also
at 1.318. New tests of the 1.327 resistance are possible. Current quote is 1.3245

Recommended trades:

Long at 1.3225/35, t/p @1.3285, s/l @1.32

USD/JPY

The support level at 104.38 will probably be tested today. Important resistance was found at 105.12. Current quote is 104.75

Recommended trades:

Forex - US dollar weaker vs yen, euro in Tokyo early afternoon trade
Thursday, February 24, 2005 4:55:06 AM
http://www.afxpress.com


TOKYO (AFX) - The US dollar was softer against major currencies, including the yen, in early afternoon trade here, after US inflation data and the minutes of the US Federal Open Market Committee (FOMC) provided no surprises overnight, dealers said. The US unit remained caught between bouts of offers from local exporters near and above the 105 yen mark and outflows by institutional investors looking for US assets for fresh investments, leaving the unit stuck in ranges, analysts said. In New York overnight, tame US consumer price index data and the FOMC minutes eased investor expectations that the US Federal Reserve will accelerate the pace of interest rates hikes, prompting runs of the dollar selling, dealers said

Speculation of continued interest rate hikes by the US central bank to counter inflation, thus raising returns on dollar-denominated assets, had previously provided support to the US unit. At 1.15 pm (0415 GMT) here, the dollar stood at 104.73 yen, down from 104.94 a few hours before in Sydney and from 104.76 in New York overnight. The US unit had traded in a range of 104.66-105.08 here

One euro was buying 1.3236 usd, compared to 1.3207 usd earlier in Sydney and 1.3233 usd in New York. The euro had moved between 1.3194 and 1.3244 usd here

"The US dollar remains top-heavy above the 105 yen level, with quite a few selling orders from exporters parked above that level," said Osamu Takashima, chief currency analyst at Bank of Tokyo-Mitsubishi Ltd. "It's not easy for the US unit to breach that level decisively." Takashima expects the US unit to trade in a range of 104-106 yen in coming weeks, saying that the US unit likely caught between bargain-hunters and exporters' selling interest. Tokyo (0415 GMT) Sydney (0040 GMT)
US dollar yen 104.73 down from 104.94 sfr 1.1613 down from 1.1637 Euro usd 1.3236 up from 1.3207 stg 0.6932 up from 0.6927 yen 138.64 up from 138.56 sfr 1.5376 up from 1.5368 Sterling usd 1.9085 up from 1.9066 yen 199.93 down from 199.95 sfr 2.2172 down from 2.2182 Australian dollar usd 0.7880 up from 0.7862 stg 0.4126 up from 0.4123 yen 82.550 up from 82.470 nozomi.toyama@xfn.com nt/jm For more information and to contact

Economic calendar for week 8 from 23 Feb. 05 to 25 Feb. 05

24 Feb. 05 00:30  Average Weekly Wages - QoQ (Australia)  Q4    1.3%  24 Feb. 05 00:30  Private Capital Expenditures - QoQ (Australia)  Q4  3.0%  1.3%  24 Feb. 05 05:30  Nationwide Department Store Sales - YoY (Japan)  Jan    -2.6%  24 Feb. 05 07:00  Import Price Index - MoM (US)  Jan  0.7%  -0.9%  24 Feb. 05 08:15  Employment Level - YoY (Switzerland)  Q4  0.2%  0.2%  24 Feb. 05 09:30  PPI - MoM (South Africa)  Jan  0.1%  -0.5%  24 Feb. 05 09:30  Total Business Investment - QoQ (UK)  Q4    1.0%  24 Feb. 05 13:30  Durable Goods Orders (UK)  Jan  0.0%  0.6%  24 Feb. 05 13:30  Durable Goods Orders Less Transportation (US)  Jan  0.4%  2.1%  24 Feb. 05 13:30  Weekly Initial Jobless Claims (US)  Feb 19  310K  302K  24 Feb. 05 15:30  API / DOE Weekly Crude Inventories (US)  Feb 18    5579K / 2100K  24 Feb. 05 21:45  Trade Balance (New Zealand)  Jan  -525.0M  -499.0M  24 Feb. 05 23:30  Tokyo CPI / Ex Fresh Food - MoM SA (Japan)  Feb  -0.1% / 0.0%  -0.5% / -0.3%  24 Feb. 05 23:30  National CPI Ex Fresh Food - MoM SA (Japan)  Jan  -0.2%  0.0%

Played like a right prat yesterday and gave SMC a slice of my pot.

another decent day on cable here some cracking moves..uk clearer sld it lower..
went long @ 20.
was the ryanair order 4yds

Looks like the 1:30's put the dollar under pressure

shrted the spike @38 covered half @ 21

balance in @ 18.:)

Good stuff, do you leave limits in or just keeping your beady eye on the action

beady eye jeff iam in front of screen all day but i popped out for a coffee and just sat down as it went thru 38..had to quickly go out again so just banked profit,,but my gut felt we wud retest the fig....
just scalping all day long jeff..cable as u know u get good moves lots of overreaction and chances to nip in for a quick 20...just trying not to overtrade....

Should have been posting on this thread - instead of the perverts on the FTSE/DAX. Been trading quite well today. Wonder if my latest stab - short from 141 is the straw that did whatever it does on the camel's back. Fingers crossed.

mg been following u on the thread got caught sgrt@ 38 but doubled@ 58 and back @ 32..stg does look strong here must adint it caguth me by surprise

14:41 GBP/USD: 1.9150 Option Barrier Erased - Support at 1.9124] London,
February 25: Cable has finally erased the exotic option barrier at 1.9150, with
triggered stops from the trigger level propelling the rate to a new eight-week
peak of 1.9161.
The subsequent retreat has met support at 1.9124 (pre-UK Q4 GDP London
morning high). Sub-1.9124 prop points are located at 1.9113/18 (1.9118 was the
Asian session high), and 1.9100. --Robert.howard@thomson.com

Finally back to where I was comfy on Monday/Tuesday...long!
It was worth taking the abuse this morning, at least cable finally made its mind up (just like any good girlie). Got home to find my short at 19156 had kicked in, but of course I missed the drop. Reversed at 160 (could've had 140, but my darling screen froze) Not sure I'll hang in over the weekend though.

Having at last managed to find someone to rob as a means of re-funding my broken account, and finally got a cable trade on I liked, 40 point 1 second spike tried to take me out, sly little bastard, however, reflexes of a cobra (and a huge dose of luck) saved trade, phew! Giving up for tonight with +50 stop on.
As a newcomer to this game, how the f**k can you leave sensible stops or OCO's on open trades with that kind of spike? help please!
(Yes I know I left one in, but I am seeing stars so need some shut-eye, and it is on the plus side, which is a rarity for me!)

morning ken :-)

Good morning
Went long last night at 1.9175, just closed for +50 so good start to the week.

Economic calendar for week 28 Feb. 05

28 Feb. 05 00:30  Trade Balance (Australia)  Jan  -2100M  -2374M  28 Feb. 05 05:00  Housing Starts YoY (Japan)  Jan  -2.7%  -2.0%  28 Feb. 05 09:00  Retail Sales MoM (Sweden)  Jan  0.5%  -1.4%  28 Feb. 05 09:00  PPI MoM (Sweden)  Jan  0.3%  -1.1%  28 Feb. 05 10:00  Euro-Zone Industrial / Consumer Economic Confidence (EU)  Feb    -5 / -13 / 100.6  28 Feb. 05 10:00  Euro-Zone CPI (EU)  Jan    0.4%  28 Feb. 05 10:30  GfK Consumer Confidence (UK)  Feb    1  28 Feb. 05 13:30  Personal Income (US)  Jan  -2.7%  3.7%  28 Feb. 05 13:30  Gross Domestic Product MoM (Canada)  Dec  0.2%  0.2%  28 Feb. 05 13:30  Personal Spending (US)  Jan  0.1%  0.8%  28 Feb. 05 13:30  PCE Deflator YoY (US)  Jan    2.4%  28 Feb. 05 13:30  PCE Core YoY (US)  Jan      28 Feb. 05 15:00  New Home Sales (US)  Jan  1125K  1098K  28 Feb. 05 15:00  Chicago PMI (US)  Feb  60.0  62.4  28 Feb. 05 23:30  Job-To-Applicant Ratio (Japan)  Jan  0.95  0.94  28 Feb. 05 23:30  Workers Household Spending YoY (Japan)  Jan  -2.0%  -3.8%

mng jeff nice one mate good pull back to get long on..if this breaks 9250 nxt stop 94.00

currently shrt @ 32 looking for a quick scalp before an 8 oclock move higher..