Gecko Global Analytics

FOREX-Dollar leaps to 6-week highs in technical rally

NEW YORK, Sept 8 (Reuters) - The dollar was set for its biggest weekly gain in two months against a basket of six major currencies.
The breach of key levels in the euro and sterling sparked a paring of bloated long positions, or bets that both currencies would rise. That added momentum to the dollar's gains.

The euro was last down 0.5 percent on the day and down 1.3 percent on the week at $1.2665, after triggering large stop-loss orders below $1.2690 and touching a six-week low of $1.2651.

Sterling slipped 0.6 percent to $1.8650, after earlier plumbing six-week lows of $1.8628. Against the Swiss franc, the dollar was up 0.4 percent at 1.2472 francs. The dollar index is up 1.25 percent on the week.

The dollar stood at 116.90 yen, up 0.4 percent on the day.


Cannes Oil man 15:17 GMT September 8, 2006
Excellent to see the $Yen and $CAD fly in unisson!

van Gecko 14:13 GMT September 8, 2006
viies 13:28.. Gold reversing 40 bucks to start Q4 after another failure to crack the decending channel from the May peak may inject some life into Euro & cousins from here into year end.. that eccentric old fella Cable seems to be the front man here..


Tallinn viies 13:28 GMT September 8, 2006
van Gecko 12:56 GMT - monthly high 1,2874. to widen monthly trading range to normal range it gives me 1,2240 as a downside target.
right now with such technical picture I cant see how euro could widen normal monthly range from other side over 1,2874....
just my humble thought


van Gecko 12:56 GMT September 8, 2006
"07:09 GMT September 6, 2006

once again, market participants are filled with expectations as Q4 rolls around.. so will Euro break 1.30 this time around or disappoint the majority again & repeat the the "Great September Slide of '05" ?
"
200 pips down.. another 3 weeks & 400 pips to equal last September's Slide..

euro @1.2670


van Gecko 08:11 GMT September 8, 2006
Buenos Aires.. 1.2770-50 is my intraday SOB zone for momentum Dollar bulls to keep the bears in line..;)


Buenos Aires 07:46 GMT September 8, 2006
van Gecko 07:30
so a "perfect" short entry could be near 1.2750??? TIA

Hong Kong Qindex 07:42 GMT September 8, 2006
EUR/USD : My system indicates that the odds are good that the market will trade below 1.2700.

Miami OMIL (/:-> 07:33 GMT September 8, 2006
van Gecko 07:30 GMT September 8, 2006
Look out below LOL. I hope you are well. GT


van Gecko 07:30 GMT September 8, 2006
way of the euroo --> 1.2750 ~ **1.2650 ** -> 1.2638
too much stops below 1.27 to turn back now.. :))

"08:39 GMT August 25, 2006

the 'Future'
good size s/t stops below 1.27 along with m/t bull stops stacked below 1.26~1.24..
breaking below the s/t 1.26 target expose the m/t channel support with potential fast break down to ~1.24~
m/t targets below 1.24 -> 1.1850 <-> 1.1550 ~ 1.13"


Cannes Oil man 06:58 GMT September 8, 2006
Miami OMIL (/:->
I'll probly buy long €'s before NY open and news events,

Miami OMIL (/:-> 06:53 GMT September 8, 2006
Sorry continuing with what I was saying it is obvious that the eur/usd pair will bounce the question is will it take out the main resistance or will the bears take control of the show and give us a deeper correction? GT

Miami OMIL (/:-> 06:49 GMT September 8, 2006
Oil Man I concur with your signals. I am really hoping for a deeper correction on the majors or some sort of move that will shake this summer range away. I am still bearish on the $ and it is nothing personal against it is just the price range that has decided this so far. Now it is obvious that the eur/usd pair will bounce sooner or later

Cannes Oil man 06:14 GMT September 8, 2006
Unless the USD makes a decisive break , the chance for a move back against it to the high of the band is increasing as US$ bears prepare themselves and wait for a news reaction to eat the fresh stops..(Plenty of them on €$ to the upside up to 1.2870 today).
Must break definitely break 1.2690-1.2630..