Oct 2, 2008 Eastern Time 01:28am Euro Daily

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Requested Chart: USD/Yen Sept 16, 2008 Phil Time 2:45pm

Sept 5, 2008 (Philippine Time 10:35am) Intraday Play

Dispatch email: hi friends. To God be the Glory. if u can monitor the ive loaded at www.oocities.org/spyfrat/ euro gbp and gbp/yen intraday play recos. best if your platform is oanda. i think 1.42 for euro is a temporary bottom and a possible technical rebound/rally may take place. caveat. Godbless be well, hernan PS: the philippine stocks market is so boring today, i have time to analyze charts. any request will be attended today. thank you. ----------- hi friends. the euro bounce yesterday was of course just a bounce :) anyways, we got our target completed today as euro low today was at near 1.42 flat (as of this writing it's at 1.4280s). will post some charts later. i cant just imagine how much margin have been called already. nevertheless, there will be always a scenario such as this in the future. excessive liquidity is here to stay. Personal take: i think there will be a rebound for euro gbp soon but as always this is just my personal view coming from a lowly technical analyst. i could be wrong as most have thought that there will be more bloodbath because of dollar smile theory (honestly, i dont know what it is). oil and gold may consolidate for awhile, too many got burn on that issues. im now on a 2nd day short term neutral for dollar. intraday i favor a rebound for euro gbp. expect tremendous volatility again. caveat. Godbless always. be well, hernan ------------ .

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Major Currencies

This is the daily chart of major currencies. Earlier i dispatch an email, expressing my views about the $ rally and that my outlook is now NEUTRAL SHORTERM for the US dollar. To recap for those who are not in the list. Here's the content of the email. "I have no gold shorts anymore and a minimal long euro/usd for a bounce play. I'm analyzing the majors against the usd and majors against yen right now. The first wave of dollar rally was so spectacular. the rally was almost perfect as it have momentum and sustainability. the rally is not about which country have sound and better fundamentals or which currency is strong but rather which currency is the weakest and which country sucks the most at this point in time. while most question the first wave of the dollar's rally as to what fundamental basis,most forgot to capture the essence that on most scenarios when the dollar sinks against the majors, it was not because europe and the rest got no mess at their table. anyways, i'll leave the fundamental side to you folks as i'm pure technicals. second wave rally of the dollar started some days ago and we have seen how ugly it can be for the majors specially euro and gbp. the target for the euro breakdown of 1.49 is still at 1.42 but i already see some exhaustion on the selloffs. gbp is the ugliest amongst the majors and a very important level was taken as of this writing. again, reminder, a breakdown or breakout at important level is prone to emotional spikes. and by nature, such spike is short lived in nature and most of the time bounce or fall back to that level. i'll post the charts today, if time permits me. this is an opportunity to trade." The chart is self explanatory. I've drawn important levels for your perusal. Since I'm neutral at this point of time, there will be no recommendations. Meaning, even though i feel euro and gbp against the usd are both in the oversold territory, and though i feel that usd/yen is on a make or break situation right (flirting with neckline), and though i feel gbp/yen may bounce on the theory of new low breakdown, my major feeling is that i cannot alert you anytime of the day because 1)i cannot monitor the movements today, 2)the last 2 days of the week could be too fast for me to alert someone else other than to protect my own ass hehehe. In short, it expect tremendous volatility to happen. caveat and Godbless us always.

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Charts Vault

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Just Pure Crap

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"Buy High, Sell Higher. Short Low, Cover Lower"