C O N T E N T S

December 20 2002
Although the market was little changed within tight ranges, the general outlook remains favorable to dollar buyers in the coming session. However, viewers are advised to watch out for possibilities of sudden dollar retreat as well. Therefore, we continue to hold last session's trade plans intact with tightened risk control.  Stay tuned for Weekly Show.

Wait to sell EUR at 1.0370, RRR-50/+200pts, or take profit by close.
Wait to sell GBP at 1.6130, RRR-50/+200pts, or take profit by close.
Wait to sell SWF at 1.4130, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 120.30, RRR-50/+200pts, or take profit by close.

 

December 19 2002
Red Alert! Near term ATS systems are all signaling sell signals against the European majors, whose advance over USD is marked by Fibonacci cycles to peak in the coming session. From there, the market will yield to technical necessity for order correction in dollar's favor. The most difficult task now is to choose and pick an entry to sell the majors. The most aggressive strategy is to enter at the next open, whereas the less tempting one will be our suggested plans below. 100pts beyond these levels may be the most conservative with minimal chance of risk or reward. Stay tuned.

Wait to sell EUR at 1.0370, RRR-150/+200pts, or take profit by close.
Wait to sell GBP at 1.6130, RRR-150/+200pts, or take profit by close.
Wait to sell SWF at 1.4130, RRR-150/+200pts, or take profit by close.
Wait to sell JPY at 120.30, RRR-50/+200pts, or take profit by close.

 

December 18 2002
As expected, EUR went ahead to probe its 1.0350 target. The rest of the major also followed the lead to mark their own gains against USD. The most significant of all is CAD's sudden advance below the long-held support of 1.5500. Breaking this level may signal a major buying trend to start and to target 1.5200. Both EUR and GBP look ready to march onto higher grounds as well, but against increasing sell pressures. EUR's month chart can easily reveal 1.0500 as the ultimate upside target to peak its current buying move, while GBP's buying should level off in the mid-1.6100s. Likewise, SWF buyers may be looking down the support zone of 1.4000-1.3900. For the immediate coming session, however, all is not a lost cause for dollar. USD still stands a chance to stage a near term technical rally from levels of EUR 1.0350, GBP 1.6170, and SWF 1.4150. Stay tuned.

Wait to sell EUR at 1.0380, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.6170, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4150, RRR-50/+100pts, or take profit by close.
Wait to buy EUR at 1.0200, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5880, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.4430, RRR-50/+100pts, or take profit by close.
Wait to buy JPY at 122.50, RRR-50/+100pts, or take profit by close.

 

December 17 2002
With DOW staging a mild pre-holiday rally, dollar is bought up a bit against yen. The outlook of European majors on the other hand remain bullishly charged, even posturing an imminent advance to the key USD stand at EUR 1.0300, GBP 1.6000, and SWF 1.4400. We will place our sell orders against these majors at a distance even beyond these levels at 1.0350, 1.6130, and 1.4150. With increasing risk to buy them, we will attempt an entry at EUR 1.0150, GBP 1.5830, and SWF 1.5500. Meanwhile, AUD continues to ready itself for another attempt to probe the long-expected 0.5720 resistance. Bouncing of CAD 1.5500 support, sellers are now pushing for a return to 1.5700 resistance. JPY sellers too are pushing for their correction target of JPY 122.50, where buyer are again likely to re-enter their positions. Stay tuned.

Wait to sell EUR at 1.0350, RRR-50/+200pts, or take profit by close.
Wait to sell GBP at 1.6130, RRR-50/+200pts, or take profit by close.
Wait to sell SWF at 1.4150, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 119.20, RRR-50/+200pts, or take profit by close.
Wait to buy EUR at 1.0150, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5830, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.5500, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 122.50, RRR-50/+200pts, or take profit by close.

 

December 13 2002
As expected, CAD sellers continue to spook buyers' willingness to hang around too close to the 1.5500 support, while AUD buyers aided by 0.5580 support finally break to the upside. They will now base buy support at 0.5630 to attempt the higher target of 0.5720. Meanwhile, buyers appear to run the market place as suspected, pressing their luck near our anticipated targets of EUR 1.0200, SWF 1.4430, GBP 1.5850, and JPY 122.00. JPY is now carrying the look of running down below 122.00 for 121.30 support; its buyer re-enter ceiling is lowered down to 123.20 for the coming session. We will widen the risk-control allowance from -50pts to -100pts to weather out the increasing market volatility. Stay tuned for Weekly Show.

Cut loss on GBP's 1.5770 sell position at 1.5820.
Sold EUR at 1.0200 and took profit at 1.0180.
Wait to sell SWF at 1.4400, RRR-100/+200pts, or take profit by close.
Wait to sell EUR at 1.0300, RRR-100/+200pts, or take profit by close.
Wait to sell GBP at 1.5900, RRR-100/+200pts, or take profit by close.
Wait to sell JPY at 121.30, RRR-100/+200pts, or take profit by close.
Wait to buy JPY at 123.20, RRR-100/+200pts, or take profit by close.

 

December 12 2002
As expected, CAD buyers are attempting to touch down the support of 1.5500, where sellers are highly expected to gather. A bouncing move from 1.5500 to 1.5600 is also highly possible. AUD on the other hand continues to hold off sellers above its key 0.5580 support. If it manages to settle above 0.5630, buyers would have an easy go at 0.5720 again. JPY and European majors remain in a fuzzy picture that is at best mildly in favor of buying. If buyers rule the coming session, their best potentials would be no more than EUR 1.0200, SWF 1.4430, GBP 1.5850, and JPY 122.00. Otherwise, sellers will have their way to retest EUR 1.0000, SWF 1.4800, GBP 1.5600, and JPY 125.00. Stay tuned.

Sold GBP at 1.5770, RRR-50/+50pts, or take profit by close.
Sold JPY at 123.20, and took profit at 123.60.
Wait to buy SWF at 1.4800, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 125.00, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0200, RRR-50/+200pts, or take profit by close.
Wait to sell SWF at 1.4430, RRR-50/+200pts, or take profit by close.

 

December 11 2002
GBP's sell-off took place sooner than we hoped for. Sinking below 1.5730 support, GBP derailed its 1.6000 move for a near term downside correction. The next support level is 1.5600 where some bargain-hunting buying may be seen. Meanwhile, its top ceiling lowers down to 1.5770 from 1.5850. Both EUR and SWF continue to remain mute, yielding little hint of their next move. Given GBP's sudden sell-off, it may be safer to stay closer with a sell plan for the duo. JPY too appears more toward selling than buying; with its upside target being 125.00 still, JPY's sell entry has been elevated to 123.20 level once again. CAD seems ready to flirt with its crucial support of 1.5500, where sellers are very likely to put up a fight for a return back to 1.5700. AUD too is testing the market mood by dipping back to the key support of 0.5580, where reaction from both buyers and sellers are mute at best. Stay tuned.

Bought GBP at 1.5730, and cut loss at 1.5680.
Wait to buy GBP at 1.5600, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.4800, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 125.00, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0200, RRR-50/+200pts, or take profit by close.
Wait to sell GBP at 1.5770, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4430, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 123.20, RRR-50/+100pts, or take profit by close.

 

December 10 2002
DOW's slide toward 8000 is moving again after White House did some firing and hiring of its own after last Friday's worsened unemployment numbers. The severity of DOW's triple-top near 9070 resistance almost ensure a return to 8000 support on technical terms. The similar scenario appears to be shaping up for GBP's up rise as well. With a double-top formation set at 1.5850 and 1.5970, its current slow upward move may suggest the forming of a mild triple top at 1.6000. If so, the latter will be made against increase bearish divergence and sellers' pressure to force a downside correction (possibly to target 1.5200, once 1.6000 is reached). While that will be a couple of steps away, GBP's immediate move for the coming session seems to be that of buying near the support of 1.5730. Elsewhere we continue to expect the ranges for other majors to be EUR 1.0000-1.0200, SWF 1.4700-1.4430, and JPY 125.00-123.00. Stay tuned.

Sold JPY at 123.00, and cut loss at 122.50.
Wait to buy EUR at 1.0000, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5730, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4700, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 125.30, RRR-50/+200pts, or take profit by close.
Wait to sell EUR at 1.0200, RRR-50/+200pts, or take profit by close.
Wait to sell GBP at 1.6000, RRR-50/+200pts, or take profit by close.
Wait to sell SWF at 1.4430, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 122.90, RRR-50/+200pts, or take profit by close.

 

December 6 2002
As expected, DOW's slide to reach 8000 support is playing out all the more as it ventured down below 8700 support for the first time since reaching 9000. A downside correction of this size will no doubt add pressure to USD's standing against the majors in the session ahead. The general forex outlook is for the European majors to gain a bit more against USD before yielding to a major downside correction of their own. Meanwhile, USD's upside target against JPY has moved up to 127.00-20 area with its support widening down to 123.20. It is advisable to keep a bit longer distance away from the market for the next session, entering it only at the revised levels below. Stay tuned for Weekly Show.

Wait to buy EUR at 0.9930, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5530, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4820, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 127.00, RRR-50/+200pts, or take profit by close.
Wait to sell EUR at 1.0050, RRR-50/+200pts, or take profit by close.
Wait to sell GBP at 1.5760, RRR-50/+200pts, or take profit by close.
Wait to sell SWF at 1.4620, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 123.20, RRR-50/+200pts, or take profit by close.

 

December 5 2002
As expected, USD stood firm at GBP's 1.5750 resistance, allowing us  to once again profit there by selling GBP. However, this is not the high time to massively buy into dollars just yet. The European majors may still pack enough buying surprises against USD from the levels of EUR 0.9920/GBP 1.5630/SWF 1.4920. The main push-over factor for the dollar weakness is likely the pending DOW slide to 8000 support. JPY on the other hand is still capable of retreating back to 126.80 level, with 124.00 now coming up to support sellers. Stay tuned.

Sold GBP at 1.5750, and took profit at 1.5700.
Wait to buy EUR at 0.9920, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5630, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4820, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 123.20, RRR-50/+200pts, or take profit by close.

 

December 4 2002
As expected, all three European majors firmed up against USD as the latter consolidated its gains above JPY 124.00. Dollar may be bought again in the support zone of JPY 124.00-123.80 to re-target JPY 126.80
resistance. It should also put up a firm resistance against GBP's advance at GBP 1.5750. Meanwhile, it is less clear whether USD will be massively sold or bought against EUR/SWF, except that its ranges may have been shifted in favor of the duo. DOW on the other hand is in imminent danger of being sold down to 8000 in a big hurry. This will be a technical move,
courtesy of a combined warning of triple-top formation in both price and oscillator divergence patterns. Stay tuned.

Sold GBP at 1.5720, and took profit at 1.5680.
Wait to buy EUR at 0.9920, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5630, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.4920, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 126.80, RRR-50/+200pts, or take profit by close.
Wait to sell EUR at 1.0200, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5750, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4620, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 123.80, RRR-50/+200pts, or take profit by close.

 

December 3 2002
As expected, a major forex move was seen immediately after the Thanksgiving weekend. JPY was unexpectedly sold much above its 123.30 resistance, setting up a stage for further selling until 126.80. Its seller support is now elevated to 124.00. Meanwhile, as USD advanced against JPY, it shed off its weight onto the European majors, which is a dollar characteristic not seen for sometime. Hence, we should continue to see dollar marching on yen while retreating orderly from euro, pound, and franc. Stay tuned.

Bought EUR at 0.9880, and took profit at 0.9980.
Bought JPY at 123.30, and cut loss at 123.80.
Wait to buy EUR at 0.9880, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5400, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.4900, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 126.80, RRR-50/+200pts, or take profit by close.
Wait to sell EUR at 1.0200, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5720, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4600, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 124.00, RRR-50/+200pts, or take profit by close.

 

November 29 2002
US market shut down for a day to feed on a crop of birds who must be thankful to be finally cage-freed. Big market moves are not expected in full swing until US traders come from their dinning tables. Must we too go off line in search of something to thank for. Happy Thanksgiving Holiday. Stay tuned for Weekly Show on Saturday.

Sold GBP at 1.5520, RRR-50/+50pts, or take profit by close.
Wait to buy EUR at 0.9880, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5400, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.5030, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 122.80, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0030, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5650, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4700, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 121.30, RRR-50/+100pts, or take profit by close.

 

November 28 2002
DOW continues to ride on its holiday bullish to reach our anticipated 9070 resistance, where it should peak out with a complete triple-top formation. What may follow after that should be a head-spinning downside correction, capable of touching down 8500 level in speed. Until then, there should be no stopping the bulls as they run amok in the market place. Buyers of European majors appeared less panic-stricken during the last session, as sellers seemed less sure of rushing toward key levels of EUR 1.0000/GBP 1.5400/SWF 1.5030. Sharp backlashing moves were seen as these levels were approached, indicating that they are indeed strong dollar supports. However, we do alert our viewers that GBP is technically capable of performing another loner sell-off, which can easily extend its losses to but not exceed 1.5300. AUD is testing its mid-0.5500s level, where buyers are likely to increase in number soon for a mild rally back above 0.5600. Their risk is below 0.5520 support. CAD buyers have managed to push the line of scrimmage back to 1.5700, where a stalemate may be seen for the rest of the week. JPY on the other hand is trapped between 123.30 resistance and 121.30 support. Happy Thanksgiving Holiday. Stay tuned.

Wait to buy EUR at 0.9830, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5300, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.5030, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 122.80, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 0.9970, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5520, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4770, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 121.30, RRR-50/+100pts, or take profit by close.

 

November 27 2002
GBP surprised us by sinking another nose-bleeding 100pts below our lowest estimated support. The unexpected drop is said to be fanned by BOE's concern of a possible UK "housing (price) bust". True or not, it was rumor enough to send some folks into panic selling. This development now drags down GBP's trading range to 1. 5600-1.5400 for the coming session. Other majors' support/resistance levels are also slightly affected to the levels indicated in our trade plans below. Viewers are advised to be on the lookout for possible drastic moves in thin market holiday trading. Stay tuned.

Bought GBP at 1.5580, and cut loss at 1.5530.
Wait to buy EUR at 0.9820, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5400, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.5030, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 122.80, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0000, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5600, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4770, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 121.00, RRR-50/+100pts, or take profit by close.

 

November 26 2002
As expected, JPY's 123.30 resistance stood firm to spook sellers into flight. Their next safe re-entry may be the 121.00 support. JPY buyers on the other hand should continue to hold 123.30 a strong technical ally to seed in their positions. For the week, it seems, the yen strategy may be buy 123.30 and sell 121.30. Also as expected, GBP slid further to touch down its triangle support (or reverse mirror, see Weekly Charts) near 1.5600. The maximum downside potential for the week is GBP 1.5540. Hence, the cushion of 1.5600-1.5540 should be taken as a buyer entry zone. EUR's upside ceiling continues to be sealed off at 1.0000, while its downside support can be lowered deeper to 0.9830. SWF's range for the coming session has been elevated to 1.4770-1.5030. Stay tuned.

Cut loss on SWF's 1.4780 buy position at 1.4830.
Bought SWF at 1.4870, and took profit at 1.4840.
Wait to buy EUR at 0.9850, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5580, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.5000, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 123.30, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0000, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5720, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4770, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 121.30, RRR-50/+100pts, or take profit by close.

 

November 22, 2002
DOW rose out of its bearish Head-n-Shoulders formation this week, as USD took an easy ride along side. However, the good times ahead may be limited to whether DOW can sustain its gains near or above 9070 resistance in the coming week or two. In all likeliness, it cannot, due to the formation of another bearish outlook, the triple-top formation. Sellers are widely believed to make a show-up and push the trading back toward 8500s. In any case, USD is still expected to firm up to the levels of EUR 0.9880/GBP 1.5600/SWF 1.4870/JPY 123.30, with its sell ceiling now coming down to EUR 1.0000/GBP 1.5830/SWF 1.4680. Once again, for a better assurance of profit-taking at the start of next week, we will shorten our profit-taking targets from +200pts to +100pts for the coming session. For better appreciation of our analysis, please review the latest Weekly Charts updates. Enjoy your weekend and stay tuned for Daily Shows.

Sold GBP at 1.5850, and took profit at 1.5780.
Bought SWF at 1.4780, RRR-50/+100pts, or take profit by close.
Wait to buy EUR at 0.9880, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5600, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.4870, RRR-50/+100pts, or take profit by close.
Wait to buy JPY at 123.30, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0000, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5830, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4680, RRR-50/+100pts, or take profit by close.

 

November 22 2002
DOW disfigured its Head-n-Shoulders formation by poking above its channel resistance at 8800. It may gather some buying momentum to thrust onto 9080 peak of 8-22-02 before settling back down for a correction. Dollar on the other is benefiting from this new found buy mood in the US market. However, we continue to hold the view that USD's advance will be challenged near EUR 0.9900/GBP 1.5630/SWF 1.4780/JPY 123.30. Likewise, USD's softness may very well be contained at EUR 1.0070/GBP 1.5850/SWF 1.4580. For a better assurance of profit-taking, we will shorten our profit-taking targets from +200pts to +100pts for the coming session. Stay tuned for Weekly Show.

Sold GBP at 1.5800, and took profit at 1.5760.
Wait to buy EUR at 0.9900, RRR-50/+100pts, or take profit by close.
Wait to buy GBP at 1.5630, RRR-50/+100pts, or take profit by close.
Wait to buy SWF at 1.4780, RRR-50/+100pts, or take profit by close.
Wait to buy JPY at 123.30, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 1.0070, RRR-50/+100pts, or take profit by close.
Wait to sell GBP at 1.5850, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4580, RRR-50/+100pts, or take profit by close.

 

November 21 2002
Having reached 122.50 resistance, JPY sellers continue to hang onto that level for another attempt to get at their final target of 123.30. Buyers are expected to show up there to turn the tide back down for 121.00. Should there be a 124.00 scenario, sellers would turn in join buyers, too, to shed off some weight. The European majors appear to be range-bound, with their near term sell levels now revised at EUR 1.0070/GBP 1.5800/SWF 1.4580. Their buy levels are as far away as EUR 0.9900/GBP 1.5630/SWF 1.4580. The general tone for the coming session is one of dollar-friendly, in which the majors should remain soft by thin-market selling. Stay tuned.

Wait to buy EUR at 0.9900, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5630, RRR-50/+150pts, or take profit by close.
Wait to buy SWF at 1.4780, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 123.30, RRR-50/+200pts, or take profit by close.
Wait to sell EUR at 1.0070, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.5800, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4580, RRR-50/+200pts, or take profit by close.

 

November 20 2002
As expected, JPY sellers have passed through their initial resistance of 121.70, going straight for 122.50; buyers will have to wait for their turn to re-enter the market at 123. 30. Selling also appears to be the mode of trading for the European majors, with their entry levels pressing down to EUR 1.0060/GBP 1.5830/SWF 1.4580 for the coming session. Their buy targets continue to be near EUR 0.9900/GBP 1.4700/SWF 1.4770. AUD buyers are showing signs of difficulty to climb higher without unloading some of their weight; hence, they are heading for a touchdown into the cushion support of 0.5580-50. CAD's speedy 1.6000 climb on the other hand is fading out strength as expected. Instead, CAD buyers are gathering strength to in the zone of 1.5950-1.6000, threatening a fast return back to 1.5700s. Stay tuned.

Wait to buy EUR at 0.9900, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5680, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4770, RRR-50/+2050pts, or take profit by close.
Wait to buy JPY at 123.30, RRR-50/+200pts, or take profit by close.
Wait to sell EUR at 1.0060, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.5830, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4580, RRR-50/+150pts, or take profit by close.

 

November 19 2002
As expected, DOW's Head-n-Shoulders formation appears to be working its way downside. Give and take a couple of more days, DOW is expected to come down the tall ladder for 8200 support again. CAD on the other hand is backing up straight toward 1.6000; once again, the zone between 1.6000 and 1.6100 will become the battleground for bulls and bears. As mentioned in our last Weekly Show, the speed is the name of the game. If CAD sellers reach 1.6000 in the coming session, bargain-hunting buyers will certainly step in (around 1.5970) to turn the tide down. Elsewhere, the majors are too little changed in Europe to yield any new outlooks that are different from those mentioned in the last Weekly Show. JPY is sharing the same selling posture as that of CAD's. Coming off a channel support at 119.50, its sellers will meet their initial resistance at 121.70, followed by 122.50 and 123. 30. Stay tuned.

Wait to buy EUR at 0.9900, RRR-50/+200pts, or take profit by close.
Wait to buy GBP at 1.5700, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4770, RRR-50/+2050pts, or take profit by close.
Wait to buy JPY at 123.30, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 120.70, RRR-50/+200pts, or take profit by close.

 

November 15 2002
Slowly but steadily USD's comeback edged ahead in quiet trading. One can attempt to go with the dollar flow to the levels of EUR 0.9900/SWF 1.4770/GBP 1.5720/JPY 121.70, or better wait there with patience to trade back the other way. On the fundamental front, it is Tom and Jerry time once again in Iraq, when both war and peace can trigger a major dollar buying and selling. Little else can be said, except that this is getting to be another wait and see game. Stay tuned for Weekly Show.

Wait to buy EUR at 0.9900, RRR-50/+150pts, or take profit by close.
Wait to buy GBP at 1.5720, RRR-50/+150pts, or take profit by close.
Wait to buy SWF at 1.4770, RRR-50/+150pts, or take profit by close.
Wait to buy JPY at 121.70, RRR-50/+150pts, or take profit by close.
Wait to sell EUR at 1.0220, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.6020, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4350, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 118.80, RRR-50/+150pts, or take profit by close.

 

November 14 2002
As indicated by our ATS-2 counter trend system, USD's comeback has begun to show its color, perhaps a bit sooner than expected. While we continue to view levels of EUR 1.0200/SWF 1.4400/GBP 1.6000/JPY 119.00 as the key and tempting dollar barriers, we are also mindful of a possible sooner-than-expected dollar recovery that may reach and stop at EUR 0.9900/SWF 1.4770/GBP 1.5720/JPY 121.70. Hence, we will lay in wait at both ends to enter the market. Stay tuned.

Wait to buy EUR at 0.9900, RRR-50/+150pts, or take profit by close.
Wait to buy GBP at 1.5720, RRR-50/+150pts, or take profit by close.
Wait to buy SWF at 1.4770, RRR-50/+150pts, or take profit by close.
Wait to buy JPY at 121.70, RRR-50/+150pts, or take profit by close.
Wait to sell EUR at 1.0220, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.6020, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4350, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 118.80, RRR-50/+150pts, or take profit by close.

 

November 13 2002
Market was little traded and changed during the last session, as buyers for the majors appeared to ready themselves for a final test of the key dollar barriers at EUR 1.0200/SWF 1.4400/GBP 1.6000/JPY 119.00, where sellers are expected to show up for a showdown. As our ATS-2 counter trend indicators are lighting a bit brighter in favor of a dollar comeback, we lay down entry orders to shore up USD at the following levels and lean back for the coming session. Stay tuned.

Wait to sell EUR at 1.0220, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.6020, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4350, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 118.80, RRR-50/+150pts, or take profit by close.

 

November 12 2002
DOW is unable to poke above its channel resistance line (see Weekly Charts) and it is subsequently falling back for support, most probably in the low 8200s soon. Dollar Index on the other is being aided with a key support of 104.00, whose equivalence appears to be EUR EUR 1.0200/SWF 1.4400/GBP 1.6000/JPY 119.00. We will continue to wait near these levels to grab a counter-trend entry, selling majors for a mild dollar recovery. Key buy levels for the majors are EUR 1.0000/SWF 1.4620/GBP 1.5730/JPY 121.20. Stay tuned.

Wait to sell EUR at 1.0220, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.6000, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4350, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 118.80, RRR-50/+150pts, or take profit by close.

 

November 8 2002
Cooperating with USD's technical weakness, Fed's latest 50pt rate cut shrunk dollar's yield to 1.25%, making it that much less attractive fundamentally to long-term buyers. As expected, how to hop back on the wagon to buy against USD therefore became a headache issue for those of us who must trade while being mindful of adverse risk. For the coming session(s), however, there should be a free fall period for USD until at least the Dollar Index touches down to its summer low of 104.00 (July 19). This level will probably be the equivalence of EUR 1.0300/GBP 1.5970/SWF 1.4350/JPY 119.80/AUD 0.5800/CAD 1. 5400. To buy the majors for riding on a further dollar slide, we have upgraded our buy entries to the following levels. So too we have listed sell entries at the levels where we anticipate majors' strength would peak against USD on this particular drive. Stay tuned for Weekly Show.

Wait to buy EUR at 1.0020, RRR-50/+150pts, or take profit by close.
Wait to buy GBP at 1.5730, RRR-50/+150pts, or take profit by close.
Wait to buy SWF at 1.4620, RRR-50/+150pts, or take profit by close.
Wait to buy JPY at 122.00, RRR-50/+150pts, or take profit by close.
Wait to sell EUR at 1.0280, RRR-50/+150pts, or take profit by close.
Wait to sell GBP at 1.5970, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4370, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 120.20, RRR-50/+150pts, or take profit by close.

 

November 7 2002
As expected, SWF buyers got a chance to re-enter their positions with us at SWF 1.4720. Without reaching up higher, both EUR and GBP stepped back a bit, though not low enough to pick up buying interests yet. This may present a problem for buyers to decide in the coming session how low to wait for their entries. The lowest probable support for EUR/GBP buyers are about 100pts away from their current price levels, which are EUR 0.9870 and GBP 1.5470. To be on the side of caution, we will place our buy orders at EUR 0.9880 and GBP 1.5480. Should these two tickets be forced out with losses, then selling majors will once again become fashionable. For now, it is not just yet. Stay tuned.

Bought SWF at 1.4720, and took profit at 1.4620.
Wait to buy EUR at 0.9880, RRR-50/+150pts, or take profit by close.
Wait to buy GBP at 1.5480, RRR-50/+150pts, or take profit by close.
Wait to buy SWF at 1.4780, RRR-50/+150pts, or take profit by close.
Wait to buy JPY at 123.00, RRR-50/+100pts, or take profit by close.
Wait to sell JPY at 121.00, RRR-50/+100pts, or take profit by close.

 

November 6 2002
GBP's 1.5550 level did prove itself as a firm support to attract buyer interest. It is now clearly pending on an upside breakout of its own, most probably targeting 1.5850. To catch the ride up, the next buy support will be GBP 1.5570 at -50pts risk. As such SWF buyers will go for 1.4400 level, and EUR will build its base to reach up for 1.0200 soon. Their respective re-entries (buying) are SWF 1. 4720 and EUR 0.9930. JPY on the other hand is steadily pressing upon its 121.00 level (a key Fibonacci support), after which 120.00 should absolutely bottom out the current downside buying wave. However, our ATS-2 counter trend system is now picking an urgent sign of upward selling pressure, which is marking 121.00 a tempting selling entry. Hence, we will attempt to sell yen at both 121.00 and 120.00 at the minimum risk of -50pts. Stay tuned.

Took profit on GBP's 1.5550 buy position at 1.5630.
Wait to buy EUR at 0.9920, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4720, RRR-50/+200pts, or take profit by close.
Wait to sell JPY at 121.00, RRR-50/+100pts, or take profit by close.
Wait to sell JPY at 120.00, RRR-50/+200pts, or take profit by close.

 

November 5 2002
After two weeks of inaction, the mighty DOW finally came out swinging to the upside. Once above 8500, it went straight for the channel resistance line near 8850. If the bulls won't stop there, however, they will march no further than 9070 as it will stand as a firm technical resistance to reckon with. Meanwhile, on the USD front, all seemed quiet as GBP alone moved down into our buy zone. Everyone else awaits near the key USD breakdown levels of EUR 0.9900SWF 1.4650/JPY 123.00. AUD is falling back on 0.5580 level for support to pick up additional buying power, while CAD sits heavily upon its main support of 1.5500, threatening to cross below it. Stay tuned.

Bought GBP at 1.5550, RRR-50/+200pts, or take profit by close.
Wait to buy EUR at 0.9880, RRR-50/+200pts, or take profit by close.
Wait to buy SWF at 1.4800, RRR-50/+200pts, or take profit by close.
Wait to buy JPY at 123.00, RRR-50/+200pts, or take profit by close.

 

November 1 2002
The market is showing an early sign of breakout, indicating its apparent willingness and determination to sell off USD in any event of pending US jobless data. With the market steadily eating away the crucial levels of EUR 0.9900/GBP 1.5650/SWF 1.4800, we now anticipate additional selling waves that would push back dollar to levels of EUR 1.0000/GBP 1.5800/ SWF 1.4500/JPY 121.00, possibly next week. Dollar Index' sub-107.00 trading seems to confirm this dollar sell-off scenario. As such, we will now attempt to reverse our trading posture from selling to buying the majors against USD. Stay tuned for Weekly Show.

Sold SWF at 1.4820, and cut loss at 1.4770.
Sold EUR at 0.9900, RRR-50/+50pts, or take profit by close.
Wait to buy EUR at 0.9850, RRR-50/+150pts, or take profit by close.
Wait to buy GBP at 1.5570, RRR-50/+150pts, or take profit by close.
Wait to buy SWF at 1.4850, RRR-50/+150pts, or take profit by close.
Wait to buy JPY at 123.20, RRR-50/+150pts, or take profit by close.

 

October 31 2002
As it had been for a week DOW was choppy last session, while dollar could not jammed more into a nose bleeding breakout. Most likely the market as a whole is awaiting to hear the new US jobless data, scheduled to be released on Friday (8:30 NYC time). Due to minimum fluctuation, USD's outlook against the major is no different today than yesterday. The much anticipated major breakout moves are still pending for the trio of European majors near the crucial levels of EUR 0.9900/GBP 1.5650/SWF 1.4800. So too is the Dollar Index still holding onto its 107.00 resistance. With a couple revised entries, we will continue to hold our selling posture against the majors. Stay tuned.

Bought JPY at 123.20, and took profit at 122.90.
Wait to sell GBP at 1.5670, RRR-50/+150pts, or take profit by close.
Wait to sell EUR at 0.9900, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4820, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 122.00, RRR-50/+150pts, or take profit by close.

 

October 30 2002
As expected, JPY buyers are pushing ahead and extending their gains toward 121.30 support, where sellers are also expected to come in for a showdown. To trade the wave down to 121.30 levels, fence-sitting buyers may wait to seize a back-lash tick to 123.20 resistance to seed in their positions. Meanwhile, the much anticipated major breakout moves are still pending for the trio of European majors near the crucial levels of EUR 0.9900/GBP 1.5650/SWF 1.4800. So too is the Dollar Index which is precariously holding onto its 107.00 resistance; should it sink below 106.50, a USD slide would be confirmed. If not, dollar should swing back the other way with a fury. Stay tuned.

Cut loss on EUR's 0.9810 sell position at 0.9860.
Wait to sell GBP at 1.5650, RRR-50/+150pts, or take profit by close.
Wait to sell EUR at 0.9900, RRR-50/+150pts, or take profit by close.
Wait to sell SWF at 1.4800, RRR-50/+150pts, or take profit by close.
Wait to sell JPY at 121.30, RRR-50/+150pts, or take profit by close.
Wait to buy JPY at 123.20, RRR-50/+150pts, or take profit by close.

 

October 29 2002
As expected in the last Weekly Show, buyers of both AUD and CAD went for their respective targets of AUD 0.5580 and CAD 1.5500. These two levels are further expected to test the wills of opposing traders to fight or flight. The winners should stand to gain additional 150-200pts. The much anticipated breakout movements also came about in favor of JPY and European majors, after first "faking" in the direction of dollar rally. With the exception of JPY, however, sellers against these majors may still have a last stand to turn the tide back at the following prices. JPY's sudden advance to the 123.30 support, on the other hand, seems to suggest that its downward divergence pattern may actually be playing out the consequence, which is to lead a correction wave downward to target the 121.30 support level. Stay tuned.

Took profit on GBP's 1.5530 sell position at 1.5480.
Sold EUR at 0.9810, RRR-/+50pts, or take profit at close.
Wait to sell GBP at 1.5700, RRR-50/+100pts, or take profit by close.
Wait to sell EUR at 0.9900, RRR-50/+100pts, or take profit by close.
Wait to sell SWF at 1.4800, RRR-50/+100pts, or take profit by close.
Wait to buy JPY at 124.20, RRR-50/+100pts, or take profit by close.

 

October 25 2002
The market sat where it stood in the last session, fluctuating very little in either direction. Therefore, it gave us nothing different to say about it from what was said in our last Daily Show, except to caution viewers that this is no doubt the calm before the storm. The next move will be big. In lieu of jumping ship right now, which viewers are better advised, we will "gamble" on our selling bias in USD's favor with a tightened risk control. Both AUD and CAD continue to lean toward more but marginal buying, but JPY and European majors are not showing their true colors yet. Stay off the market and stay tuned for Weekly Show.

Wait to sell EUR at 0.9810, RRR-50/+200pt, or take profit at close.
Wait to sell GBP at 1.5530, RRR-50/+200pt, or take profit at close.
Wait to sell SWF at 1.4970, RRR-50/+200pt, or take profit at close.
Wait to sell JPY at 124.30, RRR-50/+200pt, or take profit at close.

 

October 24 2002
Both DOW continued to its downside, while dollar stayed put against most majors. JPY alone ventured out to retest its lost ground at 124.00 support, although buyers seem to lack sufficient power to push much beyond that level. Everything else looks as confusing as can be at this time. EUR appears to be re-locked in a small breakout confinement between 0.9830 and 0.9730, with a slightly favorable downside scenario. GBP's outlook too yield very little hint of its next move. As a precaution, we upgrade our planned sell entry from GBP 1.5530 to 1.5580. Our new sell entries will be SWF 1.4900 and JPY 123.30 for no particular reason other than being cautious. Stay tuned.

Sold JPY at 124.00, and took profit at 124.50.
Took profit on SWF's 1.4980 sell position at 1.5010.
Wait to sell EUR at 0.9830, RRR-100/+200pt, or take profit at close.
Wait to sell GBP at 1.5580, RRR-100/+200pt, or take profit at close.
Wait to sell SWF at 1.4900, RRR-100/+200pt, or take profit at close.
Wait to sell JPY at 123.30, RRR-100/+200pt, or take profit at close.

 

October 23 2002
Both DOW and dollar took a little breath to the downside, inviting more buyers who bend on their next rallies. As mentioned in the last Daily Show, we will continue to view EUR 0.9830/GBP 1.5530/SWF 1.4980/JPY 124.00 as entries for those of us who prefer to sell the majors short for dollars. Our JPY's buy entry, although reintroduced, has been upgraded from 126.00 to 126.80. Stay tuned.

Sold SWF at 1.4980, RRR-100/+200pt, or take profit at close.
Wait to sell EUR at 0.9830, RRR-100/+200pt, or take profit at close.
Wait to sell GBP at 1.5530, RRR-100/+200pt, or take profit at close.
Wait to sell JPY at 124.00, RRR-100/+200pt, or take profit at close.
Wait to buy JPY at 126.80, RRR-100/+200pt, or take profit at close.

 

October 22 2002
DOW rally continues at the week open. It now carries the look of going for 9000 within a couple of weeks, with 8230 standing as a fall-back support. Dollar Index on the other hand is taking a breath in the low 108.00s. It may dip down to the maximum low of 107.50 before rising back up again to go with the DOW bulls. In terms of the majors, this level may be equivalent to EUR 0.9830/GBP 1.5530/SWF 1.4980/JPY 124.00. AUD as expected is popping to the upside; it is now with the arm-length of 0.5580 resistance, which is surely to be probed in the coming session. CAD too continues to find its way further below 1.5700 toward the lower border of its giant 1.6000-1.5500 range. Stay tuned.

Wait to sell EUR at 0.9830, RRR-100/+200pt, or take profit at close.
Wait to sell GBP at 1.5530, RRR-100/+200pt, or take profit at close.
Wait to sell SWF at 1.4980, RRR-100/+200pt, or take profit at close.
Wait to sell JPY at 124.00, RRR-100/+200pt, or take profit at close.

 

October 18 2002
Sooner than we can say "What the...?" dollar bulls roared right over SWF's 1.5000 resistance while forcing EUR down to the border of 0.9700 support. So too did the mighty DOW rising back to resettle near 8230 level after shooting 100pts above it. A lot of moves of technical significance has taken place this week, and a lot will have to be said about them in the coming Weekly Show. For now, we are counting what little blessing we can get while looking ahead to seek out our next round of entries. Both EUR 0.9680 and GBP 1.5470 are crucial supports, whose cave-ins would excite dollar bulls all the more. If they don't break, however, sellers should be warned of a possible nose-bleeding bounce from these two levels. For this reason alone, we will step back a bit to wait at EUR 0.9770 and GBP 1.5570 to enter our sell tickets. Meanwhile, we will sit out SWF's selling wave and wait to buy for JPY recovery at 126.00. Stay tuned for Weekly Show.

Took profit on GBP's 1.5550 at 1.5500.
Took profit on EUR's 0.9770 sell at 0.9700.
Wait to sell EUR at 0.9770, RRR-100/+200pt, or take profit at close.
Wait to sell GBP at 1.5570, RRR-100/+200pt, or take profit at close.
Wait to buy JPY at 126.00, RRR-/+100pt, or take profit at close.

 

October 17 2002
DOW is pulling back from 8230 resistance on profit-taking, causing dollar buyers to take a pause as well. Dollar briefly tested SWF 1.5000 while leaving EUR virtually untouched in the low 0.9800s. Dollar's bullishness will depend on whether it can break below EUR 0.9700 and above SWF 1.5000. For now it is a wait and see game. GBP continues to probe the support zone of 1.5500-1.5470 but with less vigor. If the latter (1.5470) does prove a firm support, GBP would turn around to head up for 1.5650 resistance again. Otherwise, the next support zone of 1.5300-1.5280 will come for a showdown. Stay tuned.

Sold JPY at 124.00, and took profit at 124.50.
Sold GBP at 1.5550, RRR-150/+50pts, or take profit at close.
Hold EUR's 0.9770 sell, RRR-200/+100pts, or take profit at close.
Wait to sell EUR at 0.9900, RRR-100/+200pt, or take profit at close.
Wait to sell GBP at 1.5650, RRR-100/+200pt, or take profit at close.
Wait to buy JPY at 126.00, RRR-/+200pt, or take profit at close.

 

October 16 2002
As expected, DOW shot up above 8000 to test our long predicted target 8230. With such a positive technical tone set in the US market, the Dollar Index also tagged along for some mild benefit. The bigger test is yet to come to confirm USD's bullishness, which will depend on whether dollar would advance beyond EUR 0.9700 and SWF 1.5000. If so, dollar would make its run to reach EUR 0.9400/SWF 1.5300. GBP on the other hand slid down into the support zone of 1.5500-1.5470 as expected. Closing the session in and near this zone, however, indicates a rising possibility of a further retreat, which if occurs would lead the selloff down to 1.5300-1.5280 support. JPY sellers continue to inch their way upward for 125.40 Fibonacci resistance, although such a steady move may pack enough determination to reach into the low 126.00s as well. There we will lay in wait with bargain-hunters for our buy entry. Stay tuned.

Took profit on SWF's 1.4930 sell at 1.4970.
Hold EUR's 0.9770 sell, RRR-200/+100pts, or take profit at close.
Wait to sell GBP at 1.5550, RRR-100/+200pt, or take profit at close.
Wait to sell EUR at 0.9850, RRR-100/+200pt, or take profit at close.
Wait to sell JPY at 124.00, RRR-100/+200pt, or take profit at close.
Wait to buy JPY at 126.00, RRR-/+200pt, or take profit at close.

 

October 15 2002
DOW is edging slowly higher with target sight clearly fixed upon 8230. Dollar Index appears firm at the week open but made no move to advance against the majors. However, GBP alone looks imminent to be sold down to 1.5500-1.5470 support, while none of EUR and SWF show any definitive sign of selling in a hurry. EUR 0.9900 level continues to stand as a point of contention, which will either break down for buyers to go for 1.0000 or stand firm for sellers to come back to 0.9700. JPY may be pending a major upside breakout above 125.00, but it will be done against a rising bearish divergence that may top out the upward selling move in the low 126.00 level. Better to wait in the 126.00s to bargain-hunt down JPY back to 124.50. Stay tuned.

Took profit on GBP's 1.5600 sell at 1.5570.
Hold EUR's 0.9770 sell, RRR-200/+100pts, or take profit at close.
Hold SWF's 1.4930 sell, RRR-200/+100pts, or take profit at close.
Wait to sell GBP at 1.5620, RRR-/+200pt, or take profit at close.
Wait to sell EUR at 0.9900, RRR-50/+200pt, or take profit at close.
Wait to sell JPY at 123.50, RRR-/+200pt, or take profit at close.
Wait to buy JPY at 126.50, RRR-/+200pt, or take profit at close.

 

October 11 2002
DOW spooked out bargain hunters by stretching deeper below 7300 support before bouncing up yet above it again. Should this be the case for the coming weekly close, DOW 7300 will have been proven a strong support indeed, which is to be followed with major rallies next week. Dollar in its own right allowed sellers to explored mildly beyond EUR 0.9900 and JPY 123.30 barriers before returning within the borders. Both are evidence of USD's ability to face off selling at these two key levels. What may follow after this achievement must be inevitably dollar rallies much alike DOW shooting back up from 7300. Stay tuned for Weekly Show.

Hold EUR's 0.9770 sell, RRR-200/+100pts, or take profit at close.
Hold SWF's 1.4930 sell, RRR-200/+100pts, or take profit at close.
Hold GBP's 1.5600 sell, RRR-200/+100pts, or take profit at close.
Hold JPY's 123.50 sell, RRR-200/+100pts, or take profit at close.
Wait to sell EUR at 0.9900, RRR-/+100pt, or take profit at close.
Wait to sell SWF at 1.4780, RRR-/+100pt, or take profit at close.

 

October 10 2002
After bouncing up 200pts from