AUDCHF

We maintain our stance that a multi-year top is in place at 1.0823. A series of 1st and 2nd waves has unfolded since. Under the most bearish count, price will remain below .9630 and accelerate lower. Still, the top of wave ii at 1.0135 is the bearish line in the sand.

AUDCAD

This is the same chart (but updated) that we have shown for months. This is the most telling chart of AUDCAD. The rally from .8119 to .9514 was in 5 waves and the decline to .8271 was clearly a 3 wave correction. Therefore, .9514 is expected to give way to a new high eventually. A measured objective is where the rally from .8271 would equal the rally from .8119 to .9514; at .9670. The form of the advance from .8271 is choppy but the bigger picture keeps us bullish. Near term, price should remain above .8783 (although we doubt that the pair comes near this level).

FOREX is a serious game. Play it with the pros.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Easy-Forex? Others offer promises. WE deliver.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.



Forex online. Without it, you are wasting your time (and money).
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Control your destiny.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

AUDNZD

With 5 waves up from 1.0906 to 1.2031 and with 3 waves down from 1.2031, the AUDNZD is expected to eventually exceed 1.2031. The rally 1.1150 is viewed as a series of 1st and 2nd waves. Price needs to remain above 1.1271 (black horizontal line) for us to remain bullish near term.

TREND ANALYSIS is based on a rolling pivot model. LONG TERM TREND is determined by the last 3 months of price data (high, low, close). SHORT TERM TREND is determined by the last 4 weeks of price data (high, low, close). R3, R2, R1, PL, PH, S1, S2, and S3 are provided to aid in identifying entries and exits. These are objective measures and our subjective analysis (STRATEGY) may differ.

DailyFX

Disclaimer

Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.

Manufacturing activity seems to have grown in March at a somewhat slower pace than in February in the countries belonging to the Euro Zone, same accounts for the services sector’s activity, according to the March flash preliminary estimation.

Euro Zone’s manufacturing PMI index has eased to a level of 52.0 in March from a level of 52.2 in February, the services index has fallen to 51.7 points in March from 52.3 in February.
FOREX is a serious game. Play it with the pros.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Easy-Forex? Others offer promises. WE deliver.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.



Forex online. Without it, you are wasting your time (and money).
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Control your destiny.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Markets are preparing for a long weekend, as almost all exchanges are on vacation due to the Good Friday holiday, where investors are still worried about the future of the economy and their investments, maybe no one will be able to enjoy the holiday.

The U.S. economy is on a very sharp steep edge, a small push from anything will lead to a great fall, while to rescue it, they need to built a whole castle for it which is going to take time, so the trick now is to keep it steady for a while, to be able to fix whatever they can fix during whatever time they have.

They, the feds, the policy makers, politicians, investors, economists, and even consumers are the one responsible on reviving the economy, all taking a blame in the crisis that took place, although everyone blames the other, they need to work it out together, the makers should decide appropriate policies, and investors and consumers should be confident about their judgment, otherwise this ship will keep sinking.

I am not gonna be more idealistic than I already am, but lets face it, the fed will not be able to solve the problem without any help, so everyone has to chip in if they want the economy to get back on track.

Will dear reader, enjoy your holidays and try to get the market out of your mind, and lets be ready to help and be more optimistic as we come back from the holiday…

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

The Dollar recovered most of the ground lost overnight, and according to Cornelius Luca, economist at Global Forex Trading, it could have reached a peak: “A peak is probably in place, but confirmation is needed. Immediate support is still in place at 1.5530. A break below this would strengthen the case for a major decline. Below 1.5545, there is further support at 1.5285.” Resistasnce levels, according to Luca, stand as follows: “Initial resistance is at 1.5650. The next level is 1.5720. Above 1.5755, resistance now comes at 1.5830 and then at 1.5902.”
FOREX is a serious game. Play it with the pros.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Easy-Forex? Others offer promises. WE deliver.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.



Forex online. Without it, you are wasting your time (and money).
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

Control your destiny.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.

NZDUSD Current Value: .8001
3/19/2008 3:33PM

Limit Order to Short at .8049

Stop: .8180

Limit: Much Lower (TBD)

This is a possible short term bearish count that would fit with our bigger picture count that suggests a major top is in place at .8215. The decline from .8215 can be counted as a 5 wave drop (wave i is a leading diagonal) and the rally to .8173 can be counted as a 3 wave correction. This up-down sequence is viewed as waves 1 and 2 of a 5 wave bear cycle. This implies that wave 3 is underway now (from .8173) and that the decline is about to accelerate. Expect a small bounce in wave ii of 3 first though.

DailyFX

Disclaimer

Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.

It’s not only the dollar/pound/euro that are struggling. Yesterday saw the Czech Crown reach a one month low as news spread that the government and central bank had done a deal which aims to curb the gains in currency. The deal includes freezing any privatisation income and not converting it from Euros, this also includes European subsidies.

The Czech Crown did appreciate by 8.5 between January and March and was the best performer against the Euro. The Crown was at 25.43 to the Euro. yesterday.