EUR/JPY CYCLES UPDATE Part1

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summary Of Pending Trades

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NEW SETUP

EUR/JPY

BUY WINDOW 145.60-145-80 SL 145.20 TP1 147.60

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EUR/JPY CYCLES MID-TERM UPDATE:

Since this item didn't quite perform as expected, I revised the original downtrend scenario. Downtrend is on the way, however TIME is not right yet.

Id expect this item to continue topping action for coming month, and the top would be 153.40-153.60 around October 2006. 10/03/06-10/31/06 looks as a valid date for the TOP. This time YEN will topout as well, but it won't reach 130 as some analysts predict it. YEN losses will be limited by 122.00 area.

From that point onwards (October), YEN will strenghten and reach 110 sometime 2007, meanwhile all the major will strengther against the USD, and USD will be a slack performer.

HOWEVER, before that happens in 07, EURO will drop to at least 12200 and Cable 17800 with YEN topping around 121.00. From that point on currencies will strenghten against USD.

IF this scenario unveils Id expect good opportunities ahead in September/November to LONG YEN and SHORT CABLE and EURO.

Basically you want to Short mid-term tops on euro and Buy pullbacks on yen.

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Possible NZD/USD mid-term setup (3-4 weeks pending)

PENDING BUY ORDER BUY WINDOW 0.5960-0.6000 TP1 06200 SL 5920

Just posting this one here so I can recap it Friday this week.

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Possible setup to buyback CAD:

USD CAD BUY WINDOW 1020-1060 SL 0980 TP1 1340.

This one item looks like it's accelerating for downside, lets see how it goes.

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USDJPY EURJPY GBPUSD USDCHF trades triggered.

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EVENT GUESSTIMATES

ECB

Will be dissapointing, I got reads with domestic strife, dissapointed with expectations, risk/gambling with emphasis on foreign affairs affected and loss of power. All in all Euro should slide on that day.

NFP

Domestic adversaries on that day in US, sudden changes with financial surprises, arogance of general public, illusions emphasised, depression and financial losses, unpredictable, challenge of authority. All in all Id say NFP data will dissapoint and this time USDX will extend losses.

Overall it's important to note that USD in on the path to a major downturn, and while I do see that FED and Central Bank interventions will keep the dollar afloat, longer-term the american currency is on the steady path to devaluation.

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Id advise moving stops on euro to 2865 and the cable 8800 if you got anything going,

gbpusd -80
eurusd -30
usdjpy +63
eurjpy +91
usdchf -13
chfjpy +64


So far not so good, but Id say total will be NICE when EUR reverses SOUTH, not a long time now. Stops were taken and now specs are driving prices higher, although demand on the upside is limited, and more selling pressure as we close on 2840, so the move SOUTH will accelerate more or less within next 24 hours.