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close U/J at 89.20

U/J next strategy
Waiting breaks up trend line and short at in retracement

H1 charting:

dollar may Be Relegated to Ranges Amidst Holiday Trading, I think EU will go down in this week

Dear Clients

Please note that trading conditions over the Christmas and New Year Holidays will be changed as follows:

FOREX, Spot Precious Metals:
closing on 24.12.2008 at 20:00 (terminal time)
opening on 26.12.2008 at 09:00 (terminal time)

closing on 31.12.2008 at 20:00 (terminal time)
opening on 02.01.2009 at 09:00 (terminal time)

From 24.12.2008 to 02.01.2008 inclusive:
a) the Maximum Spreads mentioned in Contracts Specifications will be increased by 3 times the normal level (ie eur/usd - 6 pips, gbp/usd 9 pips);
b) levels of Stop&Limit will be also increased by 3;
c) leverage for all accounts will be reduced to 1:33;

The change in trading conditions is due to the thin illiquid market during Christmas week. There may also be periods of greatly increased volatility.

We strongly recommend that you decrease the amount of opened positions, use Stop Losses and maintain margin level above 100%.

The whole FXOpen team wishes you a very Merry Christmas and a Happy New Year!

Originally Posted by rebateFX

Dear Clients

Please note that trading conditions over the Christmas and New Year Holidays will be changed as follows:

FOREX, Spot Precious Metals:
closing on 24.12.2008 at 20:00 (terminal time)
opening on 26.12.2008 at 09:00 (terminal time)

closing on 31.12.2008 at 20:00 (terminal time)
opening on 02.01.2009 at 09:00 (terminal time)

From 24.12.2008 to 02.01.2008 inclusive:
a) the Maximum Spreads mentioned in Contracts Specifications will be increased by 3 times the normal level (ie eur/usd - 6 pips, gbp/usd 9 pips);
b) levels of Stop&Limit will be also increased by 3;
c) leverage for all accounts will be reduced to 1:33;

The change in trading conditions is due to the thin illiquid market during Christmas week. There may also be periods of greatly increased volatility.

We strongly recommend that you decrease the amount of opened positions, use Stop Losses and maintain margin level above 100%.

The whole FXOpen team wishes you a very Merry Christmas and a Happy New Year!

All brokers will change trading conditions during holidays.
It's risky trading in holidays, stop trading and have a rest.

Originally Posted by TaoJin88

dollar may Be Relegated to Ranges Amidst Holiday Trading, I think EU will go down in this week

Seems 1.3800 is a bottom at the moment. I have long E/U, and put S/L at 1.3800.

The market is slight before the Christmas coming, EUR/USD holds narrow consolidation in the early trading of Asia. Maybe it will move around 1.40 for a time.
The fact Market is worry about the financial deficits may promote EUR/USD to up in a mid-term. Meantime, the rate levels in Euro zone is more attractive. In the currencies of those which can represent USD as an investment choice, the real rates of Euro is the only above zero. So I think the Euro may be further up.

resistance
1.4685 the average line in 200 days
1.4310 the high of December 19th
1.4190 the low of December 18th
1.4125 the high of December 22nd
support
1.3825 the low of December 19th
1.3805
1.3785 the high of October 9th
1.3710 the average line in 100 days

rebateFX, thanks for the info, I heard most of the brokers have a holiday now, we may enjoy this holiday

yes, stop trading and enjoy holidays!