come again!!!!!!!!!!!!~~~~~~~~~~~~~~~~~~~~~~

	-   EUR/USD  sold off further, falling to as low as 1.1512 during New York session overnight.  There was a small recovery from that level, but it still lacks significance, and may have been a tepid response to the large losses in the equity markets in the U.S. and Europe. True, the recovery might extend to just below 1.1600, but until the Fed resolves the debate over 25 basis point vs. 50 basis point cut, it may just be a random fluctuation. Lost of support earlier in the week was a technical negative, as a fall to new low is always dangerous. So we want to see if the recent sell-off has eliminated the chances of a recovery to at least 1.1780 - 1.1800.  More input will definitely help. For one, we will certainly take note if a recovery goes above 1.1600 from here on. Lacking this cue, we will remain skeptical and make allowances for further declines ahead of the Wednesday FOMC meeting. The idea is this: a 25-bp cut may force the currency to the 1.1450 area before the unit finds its legs. A 50 bp cut, on the other hand, will make the unit soar. Whatever is the outcome, we still believe that the EUR/USD uptrend is not over yet, and we are still looking for a subsequent move to 1.21 - 1.22 then to 1.25 further out once this correction is over. -     GBP/USD  found its legs at 1.6558 and has rallied back to 1.6700 designated resistance.   The unit has stayed below that level so far.  The  1.6700 resistance acts as gateway for further upside progress -  a succesful attack at the level may lay the groundwork for a new upcylce. Conversely, failure of a 1.6700 test suggest futher downside scope. At this point, we can't say which view one will prevail. Nonetheless, we are still convinced that the GBP/USD bull phase may not be over yet.  If there is still some scope to the downside, then there is no urgency to go long at this time, and we would rather wait for better and lower levels to make another foray into the long side of the currency, looking still for 1.7000 then 1.7370 further out.    USD/JPY  fell to as low as 117.52 and has bounce back to just under 118.00 so far. This development is in full accord with the negative short-term outlook.  The resistance at 118.00 should hold, and the  unit should continue to fall thereafter. The next support may appear at 117.20 -- so expect the unit to turn even lower later in the week.  The next break of support, now at 117.20, should bring in 116.20 once again further out.  We still believe that a fall to 115.00 is still in the pipeline in the slightlly longer-term.          -   USD/CAD  fell from the 1.3668 top and has been to 1.3545, but it remains to be seen is this retreat is for real.  The risk is still a further upmove to 1.3800 area, so there is no hurry to set-up short positions just yet. We will wait for more data so we can fine-tune tactics here. If there is a good chance of further appreciation in the unit, then we will wait for higher levels like 1.3800 to set up short positions. We still expect further declines to 1.3000 further out.      USD/CHF  fell further from the 1.3370 high, and has been to as low as 1.3220. It is still difficult to ascertain whether or not we will  get another upside follow-through to 1.3420 area. We want to see if the recent decline extends to 1.3200 after breaking the minor 1.3240 swing point. A break to the downside obviously eases the uptrend's momentum. But wherever the short term terminus will eventually occur, the longer-term negative view should eventually reassert.  Longer-term, the 1.25 - 1.24 targets should come into focus again. -   AUD/USD  fell through the 6650 support and has consolidated above the .6620 trough -- we may yet see another downtick to .6610 - .6600.  We will further lower the swing point to .6670, as we await more data. The recent downmove has been tame relative to the magnitude of declines we saw in other major currencies. The longer-term scenario is unchaged -- a  move to the 6740 top should come soon. A break of the .6740 top is still the ultimate confirmation that the uptrend has resumed. The rally should accelerate after a break, and .6850 remains the immediate objective in the very near-term.  Further out, we are now factoring-in .7000 as target.        NZD/USD   currency can rightfully claim to be the strongest of the majors at this juncture. It has made another attempt of the .5880 resistance, and should find support again at 5840/30 area. The uptrend is still set to resume further. The  next upside target is still the top at 5890.   Further out,  the rally may bring the unit to .6050 - .6100 targets again.       EUR/JPY  fell even more, nad has been to as low as 135.65. That support may not hold and so allow for further dip to 135.20 area.  It is still too early to say whether or not support should appear there.  But we expect the main bullish scenario to keep at some point nonetheless, and we will maintain 140.20 as immediate target, and 145.00 the destination further out.   Look up the individual currencies for more details and specific trading recommendations.  Refer also to the Daily Equity Strategy web page for latest FX and equity updates during the New York trading session.

	- GBP/USD tests 1.6700 swing point, but may retest 1.6558 low again

	but now, it seems that 25-bp cut is more possible, so i don't want to give a good respect on Eur

	那你看地的价位？