August 29, 2003 (published at 5:45pm est on Aug 29th for Sep 1st)
As expected in the last Daily Show, AUD buyers gathered enough strength to punch through 0.6430 resistance and reached 0.6470 level before letting up in Friday's session. The rest of the majors also followed with their own rush of buying recovery. We waived off our ill-fated JPY 119.80 sell position and are now turning our attention to the new set of market situations for the coming month. To help orient our trading posture, we first check with the SAM signals, which are still definitively buying DOW, Dollar Index, and selling all majors except JPY. With JPY buyers stubbornly adding their weight upon 117.30 support (and subsequently collapsing it), buyers for other majors are also flexing their muscles as spotted by our near-term indicators and beginning to gang up against USD. Such buying activities would be carried on by its current momentum onto next week where key battles may be fought for the control of EUR 1.1080, SWF 1.3870, and GBP 1.5930. JPY, aided with its freshly turned SAM "buy" signal and the latest success of breaking 117.30 support, is expected to have a free ride downward until landing in the low 115.00s. The area of 117.30-70 now becomes a resistance zone where buyers may re-enter and re-establish their position for further probing to the downside. CAD buyers will try to join their JPY counterparts by breaking its own key support zone of 1.3800-1.3770. AUD's bullishness, having persisted early in the week, looks less than fully charged for the coming week. Its upside potential is likely limited under 0.6530, which may still turn back another selling wave to retest the 0.6400 support. For detailed illustrations, please review all of our charts. Also, starting next week, on September 1st, our website will for the first time in its seven years existence offer a subscription membership site, where the popular Daily/Weekly/Monthly Shows and Charts, Sup/Res, and in-depth Terminologies pages will become privileged information for members only. The exact contents of these pages, after sufficient time delay to render them valueless, will be posted on the non-member site for promotional purpose. From this point on, this website will only thrive on with our viewers' contribution. Enjoy your long weekend (Monday being a US Labor Day holiday) and stay tuned for Daily Shows.

Cut loss on JPY’s 119.80 sell at 116.80.
Sold AUD at 0.6470, RRR-200/+50pts, or settle profit by close.
Sold CAD at 1.3880, RRR-200/+50pts, or settle profit by close.
Hold CAD's 1.3980 sell, RRR-200/+50pts, or settle profit by close.
Wait to sell EUR at 1.1080, RRR-50/+200pts, or settle profit by close.
Wait to sell SWF at 1.3870, RRR-50/+200pts, or settle profit by close.
Wait to sell GBP at 1.5930, RRR-50/+200pts, or settle profit by close.
Wait to buy JPY at 117.70, RRR-150/+200pts, or settle profit by close.