Tuesday, 23rd August 2005 SaxoBank Analysis

Euro/US Dollar     

EURUSD  (1.2204 @ 05:53 GMT)

EUR/USD found resistance below the 1.2260 ideal resistance area, though a positive boost from Germany and EuroZone sentiment surveys still presents a risk that the pair could revisit the 1.2300 area before heading lower again. Support appears robust around the 1.2200 area for now.

Resist. 1.2386 1.2297 1.2263 1.2204 1.2174 1.2120 1.2032 Support

British Pound/US Dollar     

GBPUSD  (1.7978 @ 05:55 GMT)

GBP/USD can't make up its mind which way it wants to go, but the preference is for it to eventually head lower, especially if it stays below yesterday's high and the resistance at 1.8047. A move through 1.7900 encourages the view toward 1.7800 and possibly even 1.7500 eventually.

Resist. 1.8228 1.8111 1.8055 1.7978 1.7937 1.7875 1.7757 Support

US Dollar/Japanese Yen     

USDJPY  (109.96 @ 05:58 GMT)

USD/JPY still looks heavy, and a fall through 109.50 again could encourage a test of the crucial 108.90 area, which guards the gates to much lower levels still. The upside swing level comes in around 110.00 - this was briefly breached this morning, but must hold if it is to help swing the pair higher. 110.80 is the key resistance higher still.

Resist. 112.21 111.06 110.42 109.96 109.28 108.77 107.63 Support

Rich disciples

The Burial of Jesus
    57.  As evening approached, there came a rich man from Arimathea, named Joseph, who had himself become a disciple of Jesus.

                                                       Matthew 27:57

Oanda Spreads

Oanda Spreads: This morning I woke up to see Oanda spreads on the EUR/USD 0.9.
WOW Good Job Oanda

GBP/USD weekly chart analysis

GBP/USD showing a similar story to the EUR/USD weekly chart, apparent Tweezer top is seen which indicate further bearish movement for this week as well.

EUR/USD weekly chart analysis

EUR/USD weekly chart showing tweezer top, indicating a possible bearish continuation pattern, but beware of possible bullish Monday as a normal start of the candle.

Daily Bible Verse

The tongue that brings healing is a tree of life, but a deceitful tongue crushes the spirit.
Proverbs 15:4  (NIV)

The Good news Part 3

Christ's Answer

Because our sin has separated us from God, we have been left with a "God-shaped vacuum" or spiritual emptiness. The world's many religions are all evidence of mankind's endless struggle to fill this vacuum. And our relentless search for inner peace through pleasure seeking, power, fame, fortune, drugs, and mystical experiences all tell of our inner emptiness.

As it is impossible for us to find God or peace with Him through our own efforts, God in His love and mercy sent His own sinless Son, Jesus Christ, to save us from our predicament ( Ephesians 2:8-9).

Christ did this by dying on the cross in our place to pay the ransom price for our sins--which was death (I Timothy 2:5-6). Thus Jesus Christ is God's only provision for our sin and He is the only way back to God and eternal life ( John 14:6 and Romans 5:8).

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The site exceeded more than 5000 visitors, i hope all of you had some help from this blog. May God bless you all

Inverted hammer formation in the EUR/JPY daily candle

Inverted Hammer formation in the daily chart of the EUR/JPY pair indicating a probability of short term bearish reversal. Prices are epected to go bullish tomorrow if broken the 135.45 range.

Eur/Usd analysis for 18th August 2005

Short term bearish movement in the Eur/Usd is expected to continue if the prices broke the yesterday's low of 1.2156, set your TP tight because it is the end of the week and prices may retrace a bit before closing the weekly candle.

GBP/USD analysis for 18th August 2005

GBP/USD finally broke the 1.8000 psychological support and important one too, all the forecasts from other brokers expect the breakdown to continue to 1.7800, anyways long bearish bar is expected to follow tomorrow as well but beware of the end of the week where prices may retrace a bit.

Short term bearish movement confirmed in the cable

The Cable broke the 1.8017 support and reching the 1.7961 level, confirming the short term bearish movement of the GBP/USD.

GBP/USD Analysis for tomorrow

Short term trend in the cable is bearish. Further bearish movement is expected as of tomorrow if the 1.8017 is broken.

Weekly chart of the EUR/USD

Weekly chart of the EUR/USD showing short term bearish movement, but again pay strong attention to the 1.2250 level.

Eur/Usd analysis for tomorrow

EUR/USD went the other way which I didn't expect, now further movement is expected in the bearish side. Set you sell orders at breaking the 1.2260 level, but beware of the strong support at 1.2250. so you may see reversal at 1.2250.

The Good News .....Part 2

Man's Problem

Unfortunately, it is our wrongdoing or sin that blocks out our experiencing God's love and receiving the full and abundant life that He has for us. And let's face it, "We have all sinned and fallen short of God's standard" (Romans 3:23). Sin, of course, is not merely doing wrongful acts. It is anything that falls short of the perfection that God envisioned for us--including our damaged emotions, negative attitudes, and mixed motives.

Punishment for sin comes from the wrongdoing itself. Sin has its own self destructive consequences--first spiritual death and ultimately eternal death (Romans 6:23); that is eternal separation from God, the Author of all love and life.

EUR/USD moved exactly the opposite of what i suggested

EUR/USD moved exactly the opposite of what i suggested and It was definitely not a hammer, but my orders to buy at 1.2371 was not executed, and the same story happened with the USD/CHF.

Daily bible verse

Fear not, for I am with you; be not dismayed, for I am your God. I will
strengthen you, yes, I will help you, I will uphold you with My righteous
right hand. - Isaiah 41:10.

About the Bible verses in this blog

If you have a knife, you can either use it to cut an apply into pieces and so you would have your lunch or you would use it to cut a human being into pieces and you would be called a murderer.
I think the story is pretty much the same for the forex, you may be called a gambler if you just entered with all the money you have and with no analysis trying to pick 200 pips in one day. but with decent money management and with good risk reward ratio then you are not different from anyone opening a supermarket and trying to sell and buy some tomatoes to earn his living.

SO I DON'T THINK THAT POSTING SOME BIBLE VERSES HERE WOULD BE A MISTAKE SIMPLY BECAUSE I DON'T THINK TRADING IN THE FOREX IS A MISTAKE.

For all the people who insulted me in emails and who insulted me in the comments here, I would tell them that I will complete posting in this blog bible verses, and if anyone thinks it is blasphemous then please don't visit the blog.

Thanks as well for all those who comments about my forex analysis.

May Jesus bless you all.

Orders were not executed and my analysis yesterday was wrong.

Hi all, I completely analysed yesterday's EUR/USD and USD/CHF in a wrong way,  it was too early to say that this was a reversal in pattern because simply there wasn't enough days of the original pattern, but orders were not exceuted since I mentioned that buying orders in the EUR/USD only when breaking yesterday's High at 1.2371 which didn't happen "Thanks God for that"