Thread: Discuss all about FX open

Weak support: 0.6540 strong support:0.6000
Weak resistance: 0.6950 strong resistance: 0.7238

From the research of Australia nation bank, Although RBA sharply drops interest rate, the commercial confidence in October is still falling down historical low level, indicating that the company situation of Australia is sharply deterioration. The financial minister of Australia says, as the global economy sliding spreads to the new developing market, which includes the major trading partner of Australia, the shock to economy of Australia may exceed prospect. On the basis of research named “economical observer” released by Japanese government, the confidence in service industry of Japan also fell down historical lowest level, reflecting private consumption is weak. INIW has made a effective breakthrough, running depending on the average line. But it faces resistance at 86.35. Only breaking through the point, it can be going up.

A crzay day of yesterday, anyone got big profits?
E/U G/U U/J G/J A/J ... all opened down spaces.
Waiting chance short them again today.

The Pound depreciated against the Dollar on Tuesday, sinking below our 1.5547 support level, a significant movement. The GBP/USD maintains it close, positive correlation with U.S. equities. Considering the British economy is centered on financial services, the GBP/USD is suffering amid the present crisis. Furthermore, weakened demand and investment from the U.S. does not help matters. The GBP/USD is testing the lows of October 27th, and appears it will continue its downtrend. If the Pound falls below 1.5357, we will have to reach back to 2003 to find historical supports. Therefore, we find the present level to hold high significance. Britain will release closely-watched unemployment data through the Claimant Count Change today. Followed by the Bank of England Inflation report and Governor King will address the public. We maintain our critical support of 1.5357. The 1.5547 support has turned resistance with 2nd tier resistance at 1.5722.

The USD/JPY fell as our prediction of a decline in the S&P knocked the Yen out of its stabilization pattern. The optimism resulting from China’s stimulus package did not last long, also as we expected. The Yen depreciated through both our 97.73 and 96.72 support levels. Therefore, the movement on Wednesday should be viewed with significance. If the Yen may continue to appreciate, as our indicators point towards.

The Pound crumbled against the Dollar yesterday as economic conditions took a turn for the worse in the U.S. Considering the strong correlation between the two countries, our past negative outlook has come to fruition. The GBP/USD has fallen in dramatic fashion since our trend line inflection point, diving through our 1.5375 support level on Wednesday. The Pound is stabilizing a bit Thursday morning due to oversold conditions. However, the stabilization may not last for too long. The U.S. will release key economic data over the next two trading sessions which should move the currency markets. With the way things are going, it is hard to expect the data to be positive. We set a new support at 1.4803 which dates back to lows set in early 2002. These next support levels should hold up strongly in the near term since past these lows we have to look back to 1985 to find new support. Therefore, we cannot stress enough the importance of present support.

E/U H1 Charting Analysis
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In the latest two days, EUR/USD was rising. However many anlysises said this situation cannot cotinue for a long time. And the trend of the near future is still droping. Considering it needs a long time for economy to recover, I also agree this view.

i think market is still in ranging movement. for long term trading it maybe not good. how about GJ, i don't know it in up/down trend now ?

U/J H4 Charting Analysis

Sell Limit:97.50 S/L 98.50

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