Yesterday gbp pairs fell like rocks coz of he negative gdp that was reported for u.k @ -0.5 actually.

have a look at the image below . it shows an ascending wedge on the e/u . I believe eur/usd will be topping anytime soon..

http://www.actionforex.c...rs/cmsfx/2011012461.gif

the fall that i had called for on aud/usd just isnt comming.the pair is sweetly consolidating in a very well defined bear flag ( look at ur 4 hr chart) and after the break-out it will prove that aud/usd has topped and will bring 0.93 level in focus after the break-out.i still maintain my short/bearish position on the pair.

We all know Friday is the big day for us fx trader as huge numbers will be coming from the u.s

@ 22:15 local (Today) USD Federal Open Market Committee Rate Decision .

On friday is the big one

1. USD Gross Domestic Product (Annualized) (4Q A)

2. USD Gross Domestic Product Price Index (4Q A)

make sure u arent trading then coz u can get wippd of coz of the high volatility !

i have been callin eu short from i dnt know when.....that ascending wedge lookd very nice and since it has broken it shld be touching 1.29 level in the coming weeks.

I'm watching the narrowing USDCHF bollinger bands. A breakout is in the offing. RSI has been slowly creeping up... If the breakout leads to a buy, EURUSD will be a sell.

@qw I have bn analying the AUDUSD, where do u thnk we headed esp after the flag u just highlighted

@Hisah, I like ur analysis,looks like USDCHF will be heading north lets see how the next 2 candles play out on H4, I will keep u posted

i am also looking to short aussie but they just dnt want to fall out of the bear flag. i need a clear signal.i lok to be long on usd/jpy coz of the bull flad on 4 hour chart...31.8 fib level of last upswing has held well even through the u.s gdp which was very uneventful .
61.8 fib level is still to be watched as what is goin on now is just an overdue correction on eur/usd ( eu)