Forex Forum Archive for 04/07/2010

Melbourne Qindex 23:59 GMT April 7, 2010
USDJPY
Entry: Target: Stop:

USD/JPY : The market is now tackling the barrier at 92.17 // 93.26.

GVI Forex Blog 23:31 GMT April 7, 2010 Reply   

Stocks Retreat after Fed’s Hoenig Calls for Rate Hike

GVI Forex Blog 23:31 GMT April 7, 2010 Reply   

Euro Finishes Down but Off Low; Bond Auction Indicates Rates May Remain Low

Syd 23:22 GMT April 7, 2010 Reply   
All eyes on Australian March employment data at 0130 GMT. Survey of 25 economists by Dow Jones Newswires found expectations center on 20,000 increase in employment (Previous +400), with unemployment set to remain unchanged at 5.3%. Stellar employment gains have partly underpinned the RBA rationale for hefty rate hikes since October 2009, with a continuation needed to support more taps on the monetary policy brakes. Economists say risk for markets is that data delivers a downside surprise as the monthly report can be volatile. Solid population growth is also a headwind for further drops in unemployment

Lahore FM 22:44 GMT April 7, 2010
Sell AUDUSD
Entry: 0.9267 Target: 0.9070/0.8950/0.8600 Stop: 0.9320

sold for 2nd time this week.last time for minus 80 pips.

Lahore FM 22:37 GMT April 7, 2010
for today session i would like it to act like a usd instrument.rise and fall as usd moves.i se usd up in the short to medium term.

Lahore FM 22:36 GMT April 7, 2010
js 1154/1157...this shud hold for chances lower.there is this debt crisis and treasuries auctions and such hedges which are for some not quite fully explained reason keeping it up.

london js 22:34 GMT April 7, 2010
thanks, im still holding shorts but its proving incredibly stubborn! i see resistance at 1157

Lahore FM 22:21 GMT April 7, 2010
london js thanx, gold although stopped but got short bias.still see 1110 and then even lower levels.

GVI Forex john 22:11 GMT April 7, 2010

For gold, oil, commodities, equities, futures trades and the commodity currencies. Check out the Global-view Futures Forum If you ever have any kind of trading question, ask on one of our forums. Someone always has an informed reply! We're all here to help! Questions? Contact Us

Los Angles T 22:07 GMT April 7, 2010 Reply   
Gold
Entry: 1147.50 Target: open Stop: 1132.00

Any body have an idea?

Thanks alot for your idea.

Happy trade, best regards!

Gen dk 21:54 GMT April 7, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

GVI Forex Blog 21:39 GMT April 7, 2010 Reply   
The Canadian dollar pushed through parity against the greenback for a second day on Wednesday, nearing a 21-month high, but then fell back sharply as oil prices fell and risk appetite dried up.

Forex Market News - CANADA FX DEBT-C$ pierces parity for 2nd day but falls back

GVI Forex Blog 21:38 GMT April 7, 2010 Reply   
The euro fell against the dollar on Wednesday as concern over Greece's debt crisis pushed the yield spread between Greek and German government bonds to its widest since the euro's launch in 1999.

FOREX News - Euro falls on Greece worries; dollar slips vs yen

GVI Forex Blog 21:35 GMT April 7, 2010 Reply   
US equities were sold from the opening bell with little fresh news to attribute the mood to, but a notable deterioration in sentiment around Greece. The S&P500 is currently down 0.9%, a fresh wave of selling observed a few minutes ago following a weak US consumer credit report.

Forex Research - Morning Report

GVI Forex john 21:21 GMT April 7, 2010
GOLD supply shortage ??

Story making the rounds on Futures Forum

Feel free to visit and comment there frequently!

london js 21:06 GMT April 7, 2010
FM, Good Trades. Are you still in Gold?

Lahore FM 20:53 GMT April 7, 2010
Sell Crude
Entry: 86.33 Target: Stop: 87.20

04/07/2010 13:16:16 FM Lahore 7

Sell Crude
Entry: 86.33 Target: 85.40/83.60 Stop: 87.20
sold may contract.
--
half outed 85.70 now sl to 86.90 on remainder.

Lahore FM 20:51 GMT April 7, 2010

Entry: 1.0005 Target: open Stop: 0.9955

04/07/2010 13:36:44 FM Lahore 5

Buy USDCAD
Entry: Target: Stop:
looking to buy usdcad at 1.0005 pre or post ivey with 50 pip sl.
--
half out for 50 pips now at 1.0055 ,stops to 0.9980 on remainder.

Los Angles T 20:46 GMT April 7, 2010 Reply   

Entry: 12 AM Target: 7 AM Stop: Open

Any trader here hit the entry and target?

happy trade! :)

Chicago sc 20:44 GMT April 7, 2010 Reply   
Buy EURUSD
Entry: 1.3349 Target: 1.3380 Stop: 1.3335

scalp

GVI Forex Blog 20:44 GMT April 7, 2010 Reply   
Greek situation worsens Greenspan defends record BoJ keeps rates steady More malaise for GBP SNB selling CHF again?

Forex Market Commentary and Analysis (7 April 2010)

Los Angles T 20:42 GMT April 7, 2010 Reply   
OTHER
Entry: Target: Stop:

Any trader here sleep enough 7hrs a day?


have fun trading, best regards! :)

GVI Forex Blog 20:27 GMT April 7, 2010 Reply   
20:00 GMT- Apr 7 (global-view.com) Forex markets mainly digested a positive 10-yr auction on Wednesday. The yield on the 10-yr afterwards was down by about -10 bps to 3.86%. This kept it in range of the psychological 4.00% line

Daily GVI Forex Forex View- EUR Heavy Again

Melbourne Qindex 20:01 GMT April 7, 2010
Mtl JP 19:50 GMT : USD/JPY : Keep an eye on 92.68.

Melbourne Qindex 19:58 GMT April 7, 2010
GBPUSD
Entry: Target: Stop:

GBP/USD : Basically the market is consolidating within 1.5132* - 1.5264. One can assume a range trading for the time being as long as the market is below Monday high at 1.5319.

USA ZEUS 19:54 GMT April 7, 2010 Reply   
Risk trade assets rolling over.
Something tells me that liquidations on the horizon.
Choice is to hedge or become the hedged. Which do you prefer?

Mtl JP 19:50 GMT April 7, 2010
Qindex 19:18 - I like that call... and taking out a bet on it.

Above 93.41 nixes. Makes it a reasonable risk/reward even if it turns out to be a JUBB.

Melbourne Qindex 19:38 GMT April 7, 2010
GBPUSD
Entry: Target: Stop:

GBP/USD : As shown in the monthly cycle charts the critical range is located at 1.5060 - 1.5288.

USA ZEUS 19:36 GMT April 7, 2010
Yes. Up, dn, up, dn.......

GVI Forex john 19:36 GMT April 7, 2010

Melbourne Qindex 19:18 GMT April 7, 2010
USDJPY
Entry: Target: Stop:

USD/JPY : The market is heading towards the barrier at 92.47 //92.68.

Tehran K.K 19:13 GMT April 7, 2010
hk ooozmeeh , what is the target

GVI Forex Blog 19:05 GMT April 7, 2010 Reply   
The Euro has been reeling from the struggle of Greece in dealing with its sovereign debt. The EUR/GBP pair broke below an important zone between 0.8850 and 0.0890. It is now testing the 0.8750 area…

FXTimes: Daily Technical Update EUR/GBP Testing Fibo-level Support

GVI Forex Blog 19:05 GMT April 7, 2010 Reply   
The Canadian Dollar (and other commodity currencies) has been strong, even more so than the greenback. It was slated to test parity and possibly expand further down to just above the 0.99 area.

FXTimes: Daily Technical Update USD/CAD Bounces from Parity

jkt-aye 19:00 GMT April 7, 2010 Reply   


is it the cable target ?

Melbourne Qindex 18:57 GMT April 7, 2010
USDJPY
Entry: Target: Stop:

USD/JPY : Speculative selling pressure will increase when the supporting range at 92.99 - 93.08 fails to hold.


==============================================


04/06/2010 08:15:07 Qindex Melbourne 5

USDJPY
Entry: Target: Stop:
USD/JPY : Critical Support 92.68


The market is under pressure when it is rejected from the monthly cycle reference normal upper limits at 93.55. As shown in the monthly cycle charts the market will head for 91.77 if the critical supporting point at 92.68 fails to hold.



USD/JPY : Monthly Cycle Charts
http://www.qindex.com/yen.html

hk ooozmeeh 18:56 GMT April 7, 2010
Sell GBPUSD
Entry: 1.5275 Target: Stop:

3rd set of Sell

hk ooozmeeh 18:56 GMT April 7, 2010
Sell GBPUSD
Entry: 1.5275 Target: Stop:

3rd set of Sell

PAR 18:56 GMT April 7, 2010 Reply   
What a cacopfony. Lower rates. Extended period. Higher rates. No inflation. Gold and Crude oil at very high levels.

NEW YORK (MarketWatch) -- U.S. stocks tumbled to session lows Wednesday after Kansas City Fed President Thomas Hoenig said the Federal Reserve should abandon its zero interest-rate policy soon. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (INDU 10,906, -63.63, -0.58%) fell 70 points after Hoenig spoke. It lately stood at 10,910.14, off 59.85 points. The S&P 500 Index /quotes/comstock/21z!i1:inx (SPX 1,184, -5.55, -0.47%) fell 4.94 points to 1,184.5. The Nasdaq Composite /quotes/comstock/10y!i:comp (COMP 2,433, -3.33, -0.14%) declined 3.69 points to 2,433.12.

PAR 18:46 GMT April 7, 2010
Looks like SNB has been constantly intervening in the forex market since its mega intervention of last Thursday . SNB very succesfull in manipulating its currency.

GVI Forex Jay 18:21 GMT April 7, 2010 Reply   


Daily usd/jpy chart is pretty clear where the support zone lies.

Using the pivotal big figure approach, the failure to test 95 shifts focis to 92-95 as a range where 93.50 is the neutral bias setting midpoint.

GVI Forex Blog 18:18 GMT April 7, 2010 Reply   
Price action on USD/CHF, a daily chart of which is shown, has risen within the last week to hit a long-term downtrend resistance line extending from the November 2008 high. This occurs after a medium-

Chart of the Day - 4/07/2010 – USD/CHF

Miami JN 18:16 GMT April 7, 2010 Reply   
Buy USDJPY
Entry: Target: Stop:

Any thoughts on a usdjpy buy level?

jerusalem KB 18:15 GMT April 7, 2010


Buy OTHER
Entry: Target: Stop:

i bought nzdusd last night based on candlestick supported with rsi breakout and now we have also a ress.breakout in h4 as shown , so holding the pair for another final target is now supported well

HK RF@ 18:02 GMT April 7, 2010
HK Kevin 17:50 GMT April 7, 2010

The hanging man may bring some Ret. but I will keep on a position trade, and keep my view as of the two posts today for Granma trading(the daily inverted H&S, and the cup&handle, seen clear on the weekly are strong long term bullish for AUD).
As of the nervous short term trader it is a different time frame.

GL/GT

Skierniewice Isa 18:00 GMT April 7, 2010
Sell GBPUSD
Entry: 1.5280 Target: 1.5000 Stop: 1.5320

ok

GVI Forex Blog 17:58 GMT April 7, 2010 Reply   

U.S. Equities Rebound after Earlier Weakness; Unable to Hold Gains

GVI Forex Blog 17:57 GMT April 7, 2010 Reply   

Euro Rebounds off Low on Possible Central Bank Buying

lkwd jj 17:52 GMT April 7, 2010 Reply   
pivot of 15236 held, next level possible 153.40. lots of folks think 153+ wont happen. mkt will tell us.

HK Kevin 17:50 GMT April 7, 2010
HK RF@ 17:41 GMT. I think 0.9490 may be seen this week. Do you expect any profit taking at this level?

tokyo rana 17:47 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

HK Kevin,what do you think about gbpjpy we go from here to 130 or not?or from 139 again up?this is retracement or reversal?your idea?eurjpy already break key support 125...happy trade...best regards

tokyo rana 17:44 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

HK Kevin,thanx for post.....iwant come down all gbpjpy usdjpy audjpy and eurjpy.........im waiting for that.ihope come down yen power can do anything...never under estimate yen power...happy trade,best regards

HK Kevin 17:44 GMT April 7, 2010
tokyo rana 17:32 GMT, forget to mention, I expect GBP/JPY low of this week is around 139 level. I god bet to long there with stop below last week low.

HK RF@ 17:41 GMT April 7, 2010 Reply   
Maybe Hanging man formation on the daily, likely the Hi will be reached on the thin early Asia-Pacific. So the nervous trader may eject on his free will.

GL/GT

HK Kevin 17:39 GMT April 7, 2010
tokyo rana 17:32 GMT. God knows! I short twice yesterday and today from 144/143.80 to 142 level before entering this intraday long position. USD/JPY downmove makes me uncomfortable to hold exisiting positons and it never wrong to take half profit.
If USD/JPY breaks and close below 93.30, I expect more to come.

GVI Forex Jay 17:34 GMT April 7, 2010 Reply   

Chairman Ben S. Bernanke
At the Dallas Regional Chamber, Dallas, Texas
April 7, 2010
Economic Challenges: Past, Present, and Future

tokyo rana 17:32 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

HK Kevin,isaid well bfore no more above 143...ithink watch below 143 to 138 this remaining week....happy trade.best regards

USA ZEUS 17:31 GMT April 7, 2010
Some things never change.

Happy Day!

HK Kevin 17:28 GMT April 7, 2010
ABHA FXS 15:32 GMT, if GBP/JPY close at around 143.30 today. Your level may be seen for a good sell. Currently I am holding a intraday long from 141.88 with t/p 143.20
Closed half portion long GBP/JPY at 142.76.

Tehran K.K 17:22 GMT April 7, 2010
NYC BT, thank you. I want to know your Idea about GBP/USD

tokyo rana 17:19 GMT April 7, 2010 Reply   
Sell GBPJPY
Entry: Target: Stop:

im watching yen strong on wensday after long time...what will be happen tomorrow...ithink this week big gain for yen...any view?happy trade...best regards

NYC BT 17:18 GMT April 7, 2010
A good auction should be good for the dollar as it reflects either confidence or a flight to safety but in the current environment some take it as a negative when bond yields move lower. The usdjpy seems most sensitive to moves in US yields.

hk ooozmeeh 17:16 GMT April 7, 2010
Sell GBPUSD
Entry: 1.5265 Target: Stop:

additional SELL 1.5265

jerusalem KB 17:14 GMT April 7, 2010 Reply   
IF the current daily candle closes as a bullish candle , I think gbpusd will go up and may break 1.5380/420 and if happened 1.5570 will not stop this pair from going to 1.5720(middle bollinger band in weekly chart).
I know this looks crazy but I will enter based on technical outlook not my prediction at last.

Tehran K.K 17:12 GMT April 7, 2010
NYC BT, is it good for usd or bad

NYC BT 17:06 GMT April 7, 2010 Reply   
Strong auction

Lahore FM 16:58 GMT April 7, 2010
correction*

spike up in eurchf is a technical breakout from congestion.1.4390*/1.4430* next.

bucharest vicx 16:48 GMT April 7, 2010
i naver said that i am a pro! i am newbie! john what do u think!

tokyo rana 16:41 GMT April 7, 2010
Sell EURJPY
Entry: Target: Stop:

bucharest vicx,idonot know much.im not pro...im just telling you what i m hearing...im simple trader just want make money...happy trade..best regars

nyc 16:41 GMT April 7, 2010 Reply   
124.45 is 50% retracement

tokyo rana 16:39 GMT April 7, 2010
Sell EURJPY
Entry: Target: Stop:

bucharest vicx,

EUR/JPY soared to as high as 127.88 before retreating mildly. While the cross lost some upside momentum, another rise is still expected as long as 126.86 minor support holds. Current rise from 121.05 should now target 161.8% projection of 119.64 to 125.19 from 121.05 at 130.03 next. On the downside, below 126.86 will suggest that a temporary top is in place and bring retreat, probably to 4 hours 55 EMA (now at 125.41). But break of 121.05 support is needed to confirm that rise from 119.64 has completed. Otherwise, another rally is still in favor after pull back.

In the bigger picture, the strong break of 126.88 cluster resistance (38.2% retracement of 138.47 to 119.64 at 126.83) indicates that choppy fall from 139.21 has likely completed at 119.64 already. The corrective structure in turns argue that whole rally from 2009 low of 112.10 is still in progress. Sustained trading above 134.36 resistance will further affirm this case and pave the way to a new high above 139.21. On the downside, break of 121.05 support is needed to revive the case that EUR/JPY has topped out in medium term. Otherwise, outlook will remain bullish.

In the long term picture, up trend from 88.96 (00 low) has completed at 169.96 and made a long term top there. Fall from 169.96 should develop into a three wave correction with first wave completed at 112.10. Second wave from 118.10 might still be in progress but after all, we'd expect another long term fall to 118.10 and beyond after the third wave starts.

GVI Forex john 16:33 GMT April 7, 2010
Was SNB in EURCHF?

lkwd jj 16:32 GMT April 7, 2010 Reply   
93.48 both s1 and 200 ma on hourly charts.if it fails we will touch 92.75-80.

GVI Forex john 16:25 GMT April 7, 2010

For gold, oil, commodities, equities, futures trades and the commodity currencies. Check out the Global-view Futures Forum If you ever have any kind of trading question, ask on one of our forums. Someone always has an informed reply! We're all here to help! Questions? Contact Us

Lahore FM 16:20 GMT April 7, 2010
Buy EURCHF
Entry: 1.4328 Target: Stop:

spike up in eurchf is a technical breakout from congestion.1.5390/1.5430 next.

bucharest vicx 16:15 GMT April 7, 2010
excuse me on 22 march we had 121! so in 1-3 weeks

tokyo rana 16:15 GMT April 7, 2010
Sell EURJPY
Entry: Target: Stop:

bucharest vicx,thanx alot....break of 121 would to 115 to 116 easly...happy trade..best regards

bucharest vicx 16:13 GMT April 7, 2010
i expect 121 120 max! in 3 months i dont know i never make such long term preditions!

ABHA FXS 16:11 GMT April 7, 2010 Reply   
GBPUSD will rise to 15285 -15328 then decline

tokyo rana 16:08 GMT April 7, 2010
Sell EURJPY
Entry: Target: Stop:

bucharest vicx,thanx alot...well im seeing it can go to 115 or more...what do you think...im just short gbpjpy...my friend shorting usdjpy eurjpy gbpjpy and audjpy..happy trade..best regards

bucharest vicx 16:05 GMT April 7, 2010
for the moment wait its a consolidation area! but it should fall! best is to wait because it could go up again to 125.30-50 area and go down else if it reach 124.80 it will go down fuurther!

hk ooozmeeh 16:04 GMT April 7, 2010
stopped out..

tokyo rana 16:02 GMT April 7, 2010
Sell EURJPY
Entry: Target: Stop:

bucharest vicx,thanx alot,what is your chart saying?tellme long term?happy trade..best regards

tokyo rana 16:00 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

ABHA FXS,ithink no more above 143...sale here best...happy trade..best regards

bucharest vicx 16:00 GMT April 7, 2010


EURJPY
Entry: Target: Stop:

my chart!

GVI Forex john 15:59 GMT April 7, 2010
Opinion: The EURUSD is weaker and the EURGBP is steady. The GBPUSD has fallen after a weaker than expected U.K. March Services PMl. The Eurozone March  flash Services PMI was revised higher. Also the Greek mess just will not go away. In the U.K., the general election set for May 6 has the markets reacting to the next headline. This should go on for another month. Polls have been mixed, but many favor the Tories. We continue to have a fundamentally bearish bias for the EURUSD and GBPUSD. EURGBP is a toss-up.

The EURCHF is steady. The SNB surprised the market last Thursday after the EURCHF tumbled to new record lows. The central bank intervened last week in the EURCHF cross and in USDCHF. The chronic weakness of the EUR vs. the CHF continues to be a bad omen for the EUR.  

bucharest vicx 15:55 GMT April 7, 2010
for an example eurjpy! 125.24 - 124.81! john,jay,as,wfauky any ideeas?!!?

bucharest vicx 15:55 GMT April 7, 2010
for an example eurjpy! 125.34 - 124.81! john,jay,as,wfauky any ideeas?!!?

ABHA FXS 15:55 GMT April 7, 2010


HK Kevin 15:44 GMT April 7, 2010
thanks look at my gbpjpy chart

bucharest vicx 15:55 GMT April 7, 2010
for an example eurjpy! 125.34 - 124.81! john,jay,as,wfauky any ideeas?!!?

bucharest vicx 15:53 GMT April 7, 2010
i think that jpy is in a consolidation area right now! all wait for us fed speach!:P or something like this

jerusalem KB 15:44 GMT April 7, 2010
closed half at 0.7075 for 55pips+ there is a ress. at 0.7090 if broken my target will be hit

HK Kevin 15:44 GMT April 7, 2010
ABHA FXS 15:32 GMT, if GBP/JPY close at around 143.30 today. Your level may be seen for a good sell. Currently I am holding a intraday long from 141.88 with t/p 143.20

GVI Forex Blog 15:42 GMT April 7, 2010 Reply   
UPCOMING DATA HIGHLIGHTS: Far East markets on Thursday will see Japanese current account and machinery orders data. Australian employment data are due also. In Europe, Swiss unemployment data are slat

GVI Forex- Data Outlook for April 8, 2010

Mtl JP 15:37 GMT April 7, 2010
PAR 15:22 - I can not but note the incopleteness of the "Lowenstein" types who come out with supposedly scary piece, then get circulated and passed around (such as your re-post on g-v).... BUT, strikingly, do not offer suggestions for conciderations to protect self or position for potential profit.

I suppose that is where places of minds gathering such as global-view.com might come in IF its members deem it worthy to share / discuss the piece as a catalyst for strategy and tactics.
-
Got Gold ?

GVI Forex john 15:37 GMT April 7, 2010
Apr 7 (global-view.com) UPCOMING DATA HIGHLIGHTS: Far East markets on Thursday will see Japanese current account and machinery orders data. Australian employment data are due also. In Europe, Swiss unemployment data are slated. The Eurozone releases retail sales data and German industrial output is on the docket as well. The U.K. releases manufacturing and industrial output data. Monetary policy decisions are due from the Bank of England and European Central Bank. In North America, the U.S. releases weekly jobless statistics, weekly natural gas inventories and will hold a 30-yr auction.

tokyo rana 15:37 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

Lahore FM,i agree nzdjpy is most bearish...but ithink pips wise maybe gbpjpy more down also uk have election etc problems greek dubai not over yet than coming portugal and spain ithink yen get big big gain...happy trade...best regards

tokyo rana 15:34 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

Lahore FM,ok thanx alot brother,iwill work out...happy trade,best regards

ABHA FXS 15:32 GMT April 7, 2010 Reply   
Sell
Entry: Target: Stop:

GBP yen will rise to 143.82 - 143.98 And then decline

Lahore FM 15:29 GMT April 7, 2010
yes short on jpy crosses.some might drop more than others.gbpjpy has falling eurgbp to support it so gbpjpy might fall less.you need to work out these relations yourself trhough your feel for the market and overall view as to which jpy crosses can drop more and which less.once commodity currencies drop nzdjpy might drop the most.chfjpy though a slow mover has made a good drop over last two days and so on.

Amsterdam Purk 15:28 GMT April 7, 2010
Ah mr. Zeus there thou are. My fingers are painful pushing the buy buttons on e/u as from 13.30 clogster time. Nothing changes here....

tokyo rana 15:26 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

Lahore FM,so you mean short better gbpjpy usdjpy and eurjpy?ood right?right now im just shorting gbpjpy..usdjpy long no ghappy trade..best regards

tokyo rana 15:25 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

thanx alot,can you write in easy enlish please?im sorry.happy trade,best regards

warsaw TOMi 15:22 GMT April 7, 2010
hello : Reply
gbp monthly march doji is only just picking up the steam to head up imo.
haappy trades

hk ooozmeeh 15:22 GMT April 7, 2010 Reply   
Sell GBPUSD
Entry: 1.5233 Target: Stop:

cable sell

warsaw TOMi 15:22 GMT April 7, 2010
gbp monthly march doji is only just picking up the steam to head up imo.
haappy trades

PAR 15:22 GMT April 7, 2010 Reply   
Lowenstein: Thanks to Greenspan and Bernanke, The Next Crisis Could Be "Even Scarier"
Posted Apr 07, 2010 10:05am EDT by Peter Gorenstein in Investing, Newsmakers, Banking, Politics

-- The Market is Always Right: The root of the problem is that Greenspan "believed deeply in the philosophy that if markets do it, it's right," Lowenstein says. Current Federal Reserve Chair Ben Bernanke deserves some blame for continuing Greenspan’s policies, he says. "Ben Bernanke is absolutely Greenspan light."

What's even more troubling is that the solution to the crisis, engineered by Washington, may be even more catastrophic, Lowenstein says. "What the government may have done is not solve the Wall Street crisis but may have just assumed Wall Street's debt."

Which brings up the real possibility "the next [crisis] could be centered right in Washington [and] could be even scarier," Lowenstein warns.

GVI Forex Blog 15:19 GMT April 7, 2010 Reply   
The greenback maintained a firm tone against the European pairs as Greek concerns remained in focus during the early US session.

Forex Blog - US Market Update

Lahore FM 15:12 GMT April 7, 2010
Rana,i see similar stuff in charts what you heard in news.

tokyo rana 15:10 GMT April 7, 2010
Sell GBPJPY
Entry: Target: Stop:

Lahore FM,salam thanx alot brother for your kind post,this is japanese news today usdjpy maybe face biggest decline idonot know this is true or not and bank of japan saying they take no action......your mean yen get more strong?all pairs go 1000 to 2000pips?you mean yen gain?happy trade..Allah bless us...best regards

GVI Forex Jay 15:04 GMT April 7, 2010 Reply   
I posted this on GVI Forex (Click for a Free Trial) earlier and most of it is still valid in this tug-of-war (euro vs. others) environment. All I would ad dis that eur/usd resistance is now at 1.3365-70.

GVI Forex Jay 12:16 GMT April 7, 2010
Observations: Reply
- EUR/USD struggling after a failure to regain 1.34. Greece concerns still a factor. Would need to regain 1.3350-55, at a minimum, to slow the risk but would need 1.3400-20+ to neutralize it. On the downside, nothing worth noting until the 1.3268 low
- EURO crosses mixed initially but then weakening, weaker EUR/JPY (tests 125) reflects renewed Greek concerns
- GBP/USD playing catch-up but then lagging with EUR/GBP slipping back below .88
- EUR/CHF is remarkably steady, suggests last week's SNB sneak attack was well timed and caused pain. Other possibility is SNB is in covertly to create such a spin.
- 4% is a key, not only for the US 10-year bond but also Greek-German CDS.
- This type of tug-of-war market is a tough one to call, especially with political factors a key influence.
- 2-yr 1.11%, 10-yr 3.95%. 10-year auction and Bernanke speech are key events today

Lahore FM 15:03 GMT April 7, 2010
Rana,we are going to see 1000 to 2000 pips lower on all jpy pairs..what you heard may well be right.91.00 holds this view will be just 250/350 lower.breaks then it will play in full.

i favour the view playing in full.

jerusalem KB 15:01 GMT April 7, 2010
stop loss moved 10pips below todays low (4pips below my entry)0.7016 for target
lookng for apportunity to sell audnzd with stop above high but i need higher entry

Gen dk 14:55 GMT April 7, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

tokyo rana 14:53 GMT April 7, 2010 Reply   
Sell GBPJPY
Entry: Target: Stop:

AS anf Tomi you there?yen is in good tone this week...i heard that if this time usdjpy down than will be deep deep down...eurjpy again down many peoples was saying eurjpy very bullish.... and bank of japan today said they will not take any action many peoples was saying yen is very weak..any view?happy trade...best regards

GVI Forex john 14:46 GMT April 7, 2010 Reply   

Any questions about what is happening or why? Do you want an opinion on a currency pair or other instrument, or a critique of a trading idea? Ask on one of our forums. Someone always has an informed reply! We're all here to help! Questions? Contact Us

Ath. Xarian 14:44 GMT April 7, 2010
CB's are increasing exposure to gold as a reserve asset,cause they are less comfortable diversifying reserves into Euros as the Greek situation remains unsettled and add on this and some risk aversion and you have the pic.
GL

london js 14:37 GMT April 7, 2010
really dont know where this sudden gold rally has come from

hk ooozmeeh 14:37 GMT April 7, 2010
good trades to you mate

hk ooozmeeh 14:31 GMT April 7, 2010
stop loss @ 1151

HK Kevin 14:30 GMT April 7, 2010
hk ooozmeeh 14:09 GMT, you are very great on riding the boat crossing the English Channel. I like the GBP/JPY more.

Gen dk 14:21 GMT April 7, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Chicago ETP 14:19 GMT April 7, 2010 Reply   
Buy EURUSD
Entry: Target: Stop:

Wednesday 7 April 2010

Yesterday, mention was made of the potential for the Euro to rally v fiat Fed$, based on a monthly probe lower that held. Today appears to be the retest of the 25 Mar low for establishing a long position, if the analysis is on target.

As long as today's lows hold on the 240m chart, the Euro can rally from here.

bucharest vicx 14:17 GMT April 7, 2010
seams that another ship drawned or another terrorist attack happend acctually in kyrgiztaan governament killed 17 people in a protest demonstration!

GVI Forex john 14:17 GMT April 7, 2010
Data @ 14:30 GMT
EIA- The Department of Energy (DOE survey)
EIA Survey comes out Wednesday morning. The DOE survey is more closely watched and generally seen as more accurate than the API data on Tuesday.

Zurich EG 14:16 GMT April 7, 2010 Reply   
eur/chf has been in a 10 pip range today

hk ooozmeeh 14:14 GMT April 7, 2010 Reply   
Sell Gold
Entry: 1144.50 Target: open Stop:

sold gold here...

GVI Forex john 14:12 GMT April 7, 2010


Canadian Ivey PMI 57.8, much stronger than forecast. This data series can be very volatile!

GVI Forex john 14:10 GMT April 7, 2010


Earlier U.K. Service PMI weaker than expected, but still at a lofty level.

hk ooozmeeh 14:09 GMT April 7, 2010
sir ZEUS, i remember riding a small pump boat as we hurdle big waves on the way home, the boatman knows when to stop the motor, and turn the boat as big waves approach, luckily im still alive, thanks to the boatman. LOL...gt to you mate.

GVI Forex john 14:09 GMT April 7, 2010


Earlier EZ flash Service PMI revised up.

Lahore FM 14:07 GMT April 7, 2010 Reply   
usdcad does not drop although pmi at 57.8 is higher than 55.0 expected.

USA ZEUS 13:56 GMT April 7, 2010
The challenge is always understanding where to draw such lines at any given moment without 20/20 hindsight. Art and skill are needed. Like any practitioner, there is no substitute for time at the helm when navigating the seas.

GVI Forex Jay 13:52 GMT April 7, 2010 Reply   


I am posting the 5 minute chart to show how technicals can work on any time frame but with a warning that you should be aware of the broader trends to put the price action in perspective.

bucharest vicx 13:49 GMT April 7, 2010
amman wfauky any thoughts on eurjpy eurusd gbpusd for the moment?!!?

USA ZEUS 13:49 GMT April 7, 2010
Great for those Purkson clogs who are range trading experts :-)

hk ooozmeeh 13:48 GMT April 7, 2010 Reply   
GBPUSD..i may trust again the daily pivot point to SELL, which is a little bit over my hourly EMA...

USA ZEUS 13:47 GMT April 7, 2010
Most any. It is either up, dn, up... or dn, up, dn... from the earlier post anticipating such.

Cheers!

GVI Forex Blog 13:47 GMT April 7, 2010 Reply   

Stocks Called Lower on Reduced Demand for Higher Risk Assets

nyc ws 13:45 GMT April 7, 2010
Zeus which currency are you referring to?

london js 13:45 GMT April 7, 2010 Reply   
gold has broken the 1142 mark. if it holds I can see further gains, if not it may retest 1133 again

USA ZEUS 13:44 GMT April 7, 2010
Theme holds- up, dn, up....

GVI Forex Blog 13:42 GMT April 7, 2010 Reply   

Dollar Rises on Greek Concerns; Weaker Commodity Prices

Lahore FM 13:36 GMT April 7, 2010
Buy USDCAD
Entry: Target: Stop:

looking to buy usdcad at 1.0005 pre or post ivey with 50 pip sl.

Lahore FM 13:16 GMT April 7, 2010
Sell Crude
Entry: 86.33 Target: 85.40/83.60 Stop: 87.20

sold may contract.

GVI Forex john 13:15 GMT April 7, 2010
Canadian Data @ 14:00 GMT
Ivey PMI Purchasing Managers Index
Most major economies have purchasing managers indices (PMI) released monthly. They are compiled by various organizations. Some focus on the manufacturing sector while others measure the service sector. They are a very current measure of the economic health of the manufacturing or services sector. The PMI indices are usually based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.

A PMI of greater than 50 represents expansion, compared to the previous month. A reading under 50 represents a contraction, while a reading at 50 indicates no change.

We find the PMI indices to be useful predictors of future economic activity.

Melbourne Qindex 13:14 GMT April 7, 2010
GBPUSD
Entry: Target: Stop:

GBP/USD : As shown in the monthly cycle projected series the market is working on the upper barrier at 1.5180 // 1.5331. The monthly cycle congested area suggests that the market has a tendency to trade within 1.4276 - 1.5310.



GBP/USD : Monthly Cycle Charts
http://www.qindex.com/gbp.html

London Shaun 13:09 GMT April 7, 2010 Reply   
Sell GBPCHF
Entry: 1.63 Target: 1.6180 Stop: 1.6330

A high without good cause

GVI Forex john 12:44 GMT April 7, 2010
Its a book--

Technical Analysis of Stock Trends
by Edwards and Magee

I have the 5th Edition. I'm sure its in a later version now.

Also on Open Forum. Please let us know if you are still having difficulty getting on that forum.

jerusalem KB 12:43 GMT April 7, 2010
thanks JM
HAPPY TRADE

GVI Forex Blog 12:41 GMT April 7, 2010 Reply   

FX Thoughts for the day : 07-Apr-2010 - 1240 GMT

NYC JM 12:40 GMT April 7, 2010
KB, nice trading.

jerusalem KB 12:32 GMT April 7, 2010
sorry for this i closed the short now from 1.3491 with 161pips+ & holding the 2nd short.

Lahore FM 12:22 GMT April 7, 2010
Sell AUDUSD
Entry: 0.9200 Target: Stop: 0.9280

04/02/2010 00:41:26 FM Lahore 23

Sell AUDUSD
Entry: 0.9200* Target: 0.8800* Stop: 0.9280*
Correction*

thanx Lagos.
--
stopped at 0.9280 for minus 80

Lahore FM 12:18 GMT April 7, 2010
Buy USDCHF
Entry: 1.0617 Target: 1.0730/half closed Stop: 1.0580

04/04/2010 22:11:48 FM Lahore 4

Buy USDCHF
Entry: 1.0617 Target: break 1.0730 where 1/2 goes Stop: 1.0580
long added to earlier.
--
half is out with entry stops and target for remainder at 1.1200.

jerusalem KB 12:18 GMT April 7, 2010
holding long with no changes in entries for now

jerusalem KB 12:13 GMT April 7, 2010
stop to 1.3390 for both position holding for target( will leave 1/3 for open target)

bucharest vicx 12:07 GMT April 7, 2010 Reply   
THREAD STARTER:
help needed
04/06/2010 13:51:50 GVI Forex john 1

I was going to recommend Edwards and Magee myself. The first edition was published in 1948. My copy is the fourteenth printing dated 1983. I'm sure there have been many more since then.

----------------------------------------------------------
i cant post there john dont know why! but write the full name of what u want! its a book or what?!

bucharest vicx 12:01 GMT April 7, 2010
john could u be a little more accurate! u put a 100 pp stop loss
thats a lot!:P

Amsterdam Purk 11:56 GMT April 7, 2010
Short mind comes into play, always nice to have when you watch the singing and dancing. Of course you have lived there for a decade or two?

As for forex: that Zeus guy did it again. And Oooooooooooooooozmeeeeehhhhh. short cable yesterday evening very good.

Mtl JP 11:55 GMT April 7, 2010
PAR 11:42 - sounds like new profit opportunities from "reserve currency" status in the making.

PAR 11:54 GMT April 7, 2010 Reply   
Looks like SNB action is pushing USDCHF higher ?

London ex 11:53 GMT April 7, 2010 Reply   
Buy USDJPY
Entry: 93.50 Target: 95.00 Stop: 92.50

Stepping up my bid.

PAR 11:42 GMT April 7, 2010
Higher Chinese Yuan will fuel higher commodity prices as it becomes cheaper for the Chinese to buy crude, copper, grains.
Already copper ,crude trading near record prices.
Us and European consumers will have to pay the bill . As usual.
Thank you Mr. Geithner.

Mtl JP 11:39 GMT April 7, 2010
PAR 11:31 - Ben and Co. are one mendacious lot.

There is no cross-over of economic growth number and govt spending reduction possible that would permit that.

US is in a mathematically terminal phase where the debt simply can not and will not ever be paid.

hk ooozmeeh 11:35 GMT April 7, 2010
TOOK PROFITon all SELL possies @ 1.5153 ......

hk ooozmeeh 19:21 GMT April 6, 2010
Sell GBP/USD : Reply
added 1.5275 cable sell...i dont feel my pending sell order will be hit
hk ooozmeeh 18:17 GMT April 6, 2010
GBPUSD : Reply
Sell GBPUSD
Entry: 1,5270 Target: Stop:

2nd set of cable Sell
GBPUSD : Reply
Sell GBPUSD
Entry: 1,5246 Target: Stop:

Cable Sell target open

HK RF@ 11:33 GMT April 7, 2010
Ath. Xarian 11:22 GMT April 7, 2010

I agree. All countries in the Balkan or close to it, should never join the Euro.
Very good in dancing and singing, but the economies do not perform so well.

Amman wfakhoury 11:33 GMT April 7, 2010 Reply   


is heading twd 13180 if keeps below 13355. if rise and keeps above 13365 then 13550 will be seen

Syd 11:32 GMT April 7, 2010 Reply   
THE EXPLOSIVE growth of China has propelled the Shanghai Futures Exchange ahead of its rivals in New York and London to the top of the world rankings of commodity exchanges.
Judged purely on the number of commodity contracts traded in 2009, an astronomical rise in steel and copper trading allowed Shanghai to lead a trio of Chinese exchanges into the top six.

The move confirms a shift of economic power from West to East -- and those positions, said commodity dealers in Hong Kong, give the Chinese exchanges a good deal more than bragging rights.

Traders around the world who used to look to London, New York, Chicago and Tokyo for a sense of the prevailing price of anything are becoming isolated if they do not check the day's prices in Shanghai.
http://www.theaustralian.com.au/business/news/china-ranked-no1-in-world-commodity-exchanges/story-e6frg90o-1225850743531

PAR 11:31 GMT April 7, 2010 Reply   
As he restarts this campaign, he is likely to go beyond the dry mechanics of monetary policy and the Fed’s exit from market rescue programs. One issue on his agenda for the days ahead: Immense government budget deficits.

Mr. Bernanke has warned lawmakers in recent hearings at the House and Senate that U.S. deficits aren’t sustainable. Formulating a credible plan to gradually shrink them over time, he has noted, could help the economy now by bringing down long-term interest rates.

Yields on 10-year Treasury notes have risen to nearly 4% from under 3.25% in late November, in part because investors worry about the enormity of debt the government is selling to the public. That rise in rates doesn’t help the Fed, which is trying to keep interest rates low to spur a recovery.

Having made his pitch to Congress, Mr. Bernanke is now likely to make it to the public more broadly. Starting this afternoon.

Neuville JD 11:30 GMT April 7, 2010 Reply   
Sell USDCAD
Entry: Target: Stop:

short at 1.0000 for 0.9950 where I expect violent bullish reaction;

Syd 11:29 GMT April 7, 2010 Reply   
In a special report, released a day after the Reserve Bank raised interest rates 25 basis points to 4.25 per cent, Moody's said most borrowers have shown they can handle higher rates.
"Indeed, it is fair to say that most mortgage borrowers can absorb much greater upside in interest rates," said Arthur Karabatsos, Moody's vice-president and senior analyst
"The neutral setting is believed to be around 5 per cent," said Karabatsos. "If official interest rates rise a further 0.75 percentage points to this level, delinquencies in the Australian RMBS sector are unlikely to significantly increase

HK RF@ 11:27 GMT April 7, 2010 Reply   
Buy AUDUSD
Entry: .9250 Target: .9320 Stop: .9200

.

Ath. Xarian 11:22 GMT April 7, 2010 Reply   
I love to use Drachmas again...Can't wait!The oldest coin of all in history is coming back like Michael Schummacher!!!

Amman wfakhoury 11:08 GMT April 7, 2010 Reply   


gbpusd profitmaker with all sell indicators.

Amman wfakhoury 11:01 GMT April 7, 2010 Reply   
Amman wfakhoury 10:34 GMT April 7, 2010
gbpusd Profitmaker alert : Reply


gbpusd is heading twd 15150 after breaking level 15270 , sl at
15300 did not hit ,more than 80 pips profit till now
=======
take profit target reached..thks alot profitmaker

GVI Forex Blog 11:00 GMT April 7, 2010 Reply   
The Euro broke the support 1.3412 and fell as expected, but less than what is expected.

Forexpros Daily Analysis - 07/04/2010

Amman wfakhoury 10:55 GMT April 7, 2010 Reply   
Amman wfakhoury 10:34 GMT April 7, 2010
------------
exited here for 100 pips profit.

GVI Forex john 10:49 GMT April 7, 2010
Data @ 11:00 GMT
Weekly Mortgage Statistics
Weekly Mortgage Statistics are released by the Mortgage Bankers Association (MBA). Total mortgage applications are the headline figure. They are then broken down into (1) new mortgage applications and (2) refinance applications. Both items by themselves are more revealing than the total number. The latest 30-year mortgage interest rate is released as well.

IMPACT: These data provide an early read on the state of the housing market.

Syd 10:43 GMT April 7, 2010 Reply   
Unlike the U.S. dollar and euro, the Ozzie dollar represents one of the only currencies not facing major problems, Kathy Lien, director of currency research at censored Forex. She talks with Shane Oliver, head of investment strategy and chief economist, AMP Capital Investors

http://www.cnbc.com/id/15840232?video
=1462172398&play=1

Amman wfakhoury 10:34 GMT April 7, 2010 Reply   


gbpusd is heading twd 15150 after breaking level 15270 , sl at
15300 did not hit ,more than 80 pips profit till now.

GVI Forex Blog 10:27 GMT April 7, 2010 Reply   
The euro held near a one-week low against the dollar on Wednesday on uncertainty over a proposed Greek aid deal, while the Australian dollar stayed buoyed on expectations of higher interest rates.

FOREX NEWS - Euro near one-week low vs dollar; Aussie buoyant

GVI Forex Blog 10:19 GMT April 7, 2010 Reply   
Currencies/Fixed Income: The USD maintained a steady tone in the European morning with dealers focusing on the recent retreat in U.S. Treasury yields in the wake of the FOMC minutes from late yesterday in NY.

European market Update: Euro Zone economy Q4 GDP revised lower; China confirms to resume issuance of 3-year Bills

GVI Forex Blog 10:09 GMT April 7, 2010 Reply   
10:00 GMT- Apr 7 (global-view.com) Forex markets are digesting the slew of items released over the past few days after the Easter break. News highlights today have been the outcome of the Bank of Japan policy meeting (rates unchanged)

Daily GVI Forex Forex View- Digesting a Lot

GVI Forex john 10:04 GMT April 7, 2010

ABHA FXS 10:03 GMT April 7, 2010 Reply   
Buy GBPUSD
Entry: Target: Stop:

REVERS UP LEVEL 15128 - 15113
UPPER TARGETING 15400- 15413

Gen dk 09:25 GMT April 7, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Melbourne Qindex 08:51 GMT April 7, 2010 Reply   
GBPUSD
Entry: Target: Stop:

GBP/USD : The market is under pressure when it is trading below the neutral range at 1.5246 - 1.5259. Speculative selling pressure will increase when the market is below the Tuseday low at 1.5132.

Toronto MDunleavy 08:38 GMT April 7, 2010 Reply   


Sell AUDUSD
Entry: 0.9270 Target: 0.8500 Stop: 0.9420

AUDUSD Outlook
The AUDUSD made a significant bullish momentum, break above the broadening formation, confirms the bullish continuation scenario after RBA raised the rate at 4.25% as expected. The bias is bullish in nearest term targeting 0.9326 - 0.9404 area. Immediate support at 0.9250. Break below that area could trigger further bearish correction testing the upper line of the broadening formation. A movement back inside the formation should lead us into no trading zone as direction would become unclear.

http://iticsoftware.com/postimages/2009-Jun-19/BJF-Trading-Group-AudUsd_0407.xls

Syd 08:21 GMT April 7, 2010 Reply   
Pacific Investment Management Co., which runs the world's biggest mutual fund, favours currencies in China, Brazil, Canada and Australia on expectations they offer attractive returns amid an uneven global economic rebound.

Investors should hold fewer euros, British pounds and Japanese yen than the percentages in benchmarks they use to track performance, Pimco fund manager Paul McCulley wrote on the company's Web site. US 10-year Treasury yields will trade in a range of 3.50 per cent to 4.25 per cent, he said.

Commodity producers including Australia, Brazil and Canada are forecast by strategists to grow faster than larger economies such as the US and Europe as China's accelerating expansion drags the world out of its worst slump since World War II, pushing up prices for raw materials. The Federal Reserve will hold interest rates at a record low into next year as inflation and economic growth remain subdued, McCulley said in his report.

Bill Gross, manager of the record-size $US220 billion Pimco Total Return Fund, said the almost three-decade bond market rally may be drawing to a close.

"Bonds have seen their best days," Gross said in a March 25 interview with Tom Keene on Bloomberg Radio from Pimco's headquarters
http://www.smh.com.au/business/markets/pimco-favours-a-yuan-loonie-in-uneven-rebound-20100407-rppq.html

Syd 08:02 GMT April 7, 2010 Reply   
He warned on house prices and made it clear that rates were currently on the rise. My strong suspicion is that, like the apocryphal supermodel, Stevens wouldn't get out of bed to warn on less than two interest rate rises. And we may even see twice that number from here.

http://www.smh.com.au/business/winners-aplenty-from-rbas-rate-rises-20100407-rraf.html

Syd 07:36 GMT April 7, 2010 Reply   
Risk may still be a guiding force in currencies. But, says Credit Agricole, the markets appear to be getting more risk specific. While strong US data has helped to lift prospects for the global recovery and help the CAD and AUD, the market has remained wary of the EUR, GBP and the JPY which carry their own specific problems.

jerusalem KB 07:23 GMT April 7, 2010
Sell EURUSD
Entry: 1.3390 Target: 1.3270 Stop: 1.3430

adding short now to the one i hold from 1.3491 both stop at 1.3430 for target

PAR 06:57 GMT April 7, 2010 Reply   
April 7, 2010
The U.S.'s Expanding Military Empire
Tom Engelhardt: U..S. War-Fighting Numbers to Knock Your Socks Off


http://www.cbsnews.com/stories/2010/04/06/opinion/main6369807.shtml

With our Afghan and Iraq wars on my mind, I’ve been wondering whether Ripley’s moment hasn’t returned. Here, for instance, are some figures offered in a Washington Post piece by Lieutenant General James H. Pillsbury, deputy commanding general of the U.S. Army Materiel Command, who is deeply involved in the “drawdown of the logistics operation in Iraq”: “There are... more than 341 facilities; 263,000 soldiers, Defense Department civilians and contractor employees; 83,000 containers; 42,000 vehicles; 3 million equipment items; and roughly $54 billion in assets that will ultimately be removed from Iraq.”

Admittedly, that list lacks the “believe it or not” tagline, but otherwise Ripley’s couldn’t have put it more staggeringly. And here’s Pillsbury’s Ripley-esque kicker: the American drawdown will be the "equivalent, in personnel terms alone, of relocating the entire population of Buffalo, New York."

HK RF@ 06:50 GMT April 7, 2010 Reply   


Tell Granma what you here.

PAR 06:50 GMT April 7, 2010 Reply   
L.A. mayor calls for temporary shutdowns of some agencies
Villaraigosa, battling with the City Council over a growing fiscal crisis, seeks to slash city services starting Monday.


Los Angeles Mayor Antonio Villaraigosa called for shutting down non-essential agencies two days a week Tuesday as he and City Council members remained locked in a standoff over the intertwined issues of electricity rates and the city's worsening budget shortfall.

Villaraigosa's action topped another day of threats and name-calling at City Hall.

During a morning news conference, the mayor said the council had caused the latest financial crisis by engaging in the "politics of 'no' " and accused it of "the kind of demagoguery you see in the Congress."

Those were "the kind of scare tactics you saw around the healthcare debate," he said.

Councilman Bernard C. Parks, who chairs the Budget Committee, brushed aside the mayor's assertions and said city leaders should be focused on stabilizing city finances.

PAR 06:41 GMT April 7, 2010 Reply   
Analysis of California Pensions Finds Half-Trillion-Dollar Gap
By MARY WILLIAMS WALSH
Published: April 6, 2010


An independent analysis of California’s three big pension funds has found a hidden shortfall of more than half a trillion dollars, several times the amount reported by the funds and more than six times the value of the state’s outstanding bonds.


Justin Sullivan/Getty Images
California Gov. Arnold Schwarzenegger says that unless legislators act on pension reform, programs will have to be cut.

Related
Automaker Pensions Underfunded by $17 Billion (April 7, 2010)
Times Topic: Pensions and Retirement PlansThe analysis was commissioned by Gov. Arnold Schwarzenegger, who has been pressing the State Legislature to focus on the rising cost of public pensions.

Graduate students at Stanford applied fair-value accounting principles to California’s pension funds, using a method recently devised by two economists working in Illinois, Joshua D. Rauh of Northwestern University and Robert Novy-Marx of the University of Chicago.

The Stanford group’s finding does not suggest that California has to come up with half a trillion dollars all at once; pensions are paid slowly over time. But the possibility that the state’s public pension funds are much deeper in the hole than reported could help explain why the required contributions to the funds have been rising every year, contributing to California’s annual budget drama.

Sydney GE 06:39 GMT April 7, 2010
cheers mate

Syd 06:37 GMT April 7, 2010 Reply   
Sydney GE.. the commentary was from DJ thats all there was, agree with you Rory does have friends in the RBA. quite a reliable source


Intraday AUD/USD: Tuesday's strength powered through a 4-5 month bull flag resistance line at 0.9228 to leave a wide bullish-outside day, and the 0.9295 upside target is now within striking distance. With corrective dips limited to the 0.9217 area, room exists for further strength towards the 2010 high at 0.9330, set in January.

Weekly chart AUD/USD trend: Bullish.

Sydney GE 06:30 GMT April 7, 2010
Syd where ws that Rory piece plse?

Hong Kong 06:24 GMT April 7, 2010 Reply   
INTRADAY TRADING SIGNAL BY ACETRADER.COM :
AUD/USD: 0.9270

Last Update At 07 Apr 2010 04:30 GMT

Aud's retreat after failing to penetrate y'day's
0.9289 high suggests further choppy trading below
there is seen ahead of European opening n pullback
to 0.9240/45 is likely but reckon 0.9222 (previous
res) wud contain downside, bring re-test of 0.9289.


Buy on dips with stop as indicated, below wud
signal a temp. top is made, risk 0.9205/10.


Range Forecast
0.9261 / 0.9289


Resistance/Support
R: 0.9289/0.9300/0.9331
S: 0.9259/0.9212/0.9187

http://www.acetraderfx.com

Sydney GE 06:22 GMT April 7, 2010
Rory is very connected within the RBA

Syd 05:34 GMT April 7, 2010 Reply   
Noted RBA follower Rory Robertson forecasts RBA to pause next month, then expects central bank rate hikes back-to-back in June and July, with rates moving from current 4.25% to as high as 6.0% to 6.5% by end of next year. "The RBA sooner or later almost certainly will find what it sees as good reasons why policy 'normalization' is not enough, reasons to start pushing toward a 'more restrictive' stance for policy," says Macquarie strategist Robertson, citing country's "biggest-ever mining boom."

Syd 05:04 GMT April 7, 2010 Reply   
The World Bank sharply raised its forecast for economic growth in East Asia to reflect reviving global demand, sustained fiscal and monetary stimulus in the region and a rapid rebound in consumer spending.
http://www.cnbc.com/id/36205828

DJ MARKET TALK: AUD/JPY Linked To M&A Buying - RBC Capital
AUD/JPY linked to market talk of buying related to M&A transaction involving Sumitomo Chemical and NuFarm, says RBC Capital Markets Senior FX Strategist Sue Trinh. Notes AUD also being supported by upgraded World Bank forecasts for East Asia and a move by major local banks to only match RBA's 25 bps hike, rather than go by more, easing worries about widening bank margins. AUD/USD last at 0.9272 vs 0.9289 session high, AUD/JPY at 87.325 vs 87.515 session high.

HK RF@ 05:01 GMT April 7, 2010 Reply   
A good example where one should not be.

Want to buy yen if you don't have faith in this currency wait until 97.
On the otherside it may also retrace to about 91.0 because of the oversold situation.
Yet it may be more oversold to 95.5.

Too much uncertainty.

Melbourne Qindex 04:41 GMT April 7, 2010
Gold
Entry: Target: Stop:

Gold : Resistant Barriers are 1141.0 // 1165.1


Upside Targeting Points : 1157.2 - 1157.8

Cairo Hesham 04:06 GMT April 7, 2010
to jkt-aye: thank u

jkt-aye 04:04 GMT April 7, 2010
Hesham...it seems they take the south journey, imho.

Melbourne Qindex 04:04 GMT April 7, 2010
EURUSD
Entry: Target: Stop:

EUR/USD : As shown in the monthly cycle charts the market is under pressure when it is below 1.3434. The distribution profile of the monthly cycle probability chart indicates that the market is pulling towards 1.2827.



EUR/USD : Monthly Cycle Charts
http://www.qindex.com/euro.html

HK RF@ 03:59 GMT April 7, 2010 Reply   
Euro looks like aiming at 1.3270, where ~1.3270 may serve as a pivot point, but if broken at least 50 pips below, that will be the time to check what will be the next low.
But with these bad Euro sentiments maybe 1.3270 may serve again as a double bottom reversal.

GVI Forex Blog 03:51 GMT April 7, 2010 Reply   

Morning Briefing : 07-Apr-2010 - 0359 GMT

jerusalem KB 03:49 GMT April 7, 2010
stopped at break even

Cairo Hesham 03:49 GMT April 7, 2010
to jkt-aye: what is ur view about jpy crosses?

jkt-aye 03:23 GMT April 7, 2010 Reply   
i would like to hear any views on short gbpchf for 16250 or long eurgbp for 8860, tia

GVI Forex Blog 03:10 GMT April 7, 2010 Reply   

Pressure could be on Higher Risk Assets as Greece Problems Resurface

USA ZEUS 03:04 GMT April 7, 2010 Reply   
Many will as which way to trade on Wednesday.
For some the answer may be as simple as "both".
For others that may mean the best position is to not have a position.

Melbourne Qindex 02:46 GMT April 7, 2010 Reply   
EURUSD
Entry: Target: Stop:

EUR/USD : Critical Support 1.3320


Speculative selling pressure will increase when the market is below Tuesday low at 1.3356. A resistant range is expected at 1.3411 - 1.3432.


EUR/USD : Monthly Cycle Charts
http://www.qindex.com/euro.html

Syd 02:46 GMT April 7, 2010 Reply   
Gold making new highs in EUR terms but still gaining in USD terms as fears over weight of sovereign debt not confined to eurozone, says Jeffrey Nichols, senior economic advisor to Rosland Capital LLC. "The recent increase in yields on medium- and long-term U.S. government debt is indicating rising investor concerns about America's sovereign debt. And it is these concerns that will drive the gold price higher - even if the dollar's relative strength versus the euro remains firm." Spot gold at $1,135.20/oz, up 90 cents since NY close, while gold in euro terms at EUR848.05, just off record high of EUR851 hit overnight.

USA ZEUS 02:43 GMT April 7, 2010
Depending on your time frame, 94.25 is a nice place to lock in gains.

USA ZEUS 02:43 GMT April 7, 2010
Depending on your time frame, 94.25 is a nice place to lock in gains.

Melbourne Qindex 02:41 GMT April 7, 2010 Reply   
EURUSD
Entry: Target: Stop:

EUR/USD : Critical Support 1.3220


Speculative selling pressure will increase when the market is below Tuesday low at 1.3356. A resistant range is expected at 1.3411 - 1.3432.


EUR/USD : Monthly Cycle Charts
http://www.qindex.com/euro.html

Melbourne Qindex 02:17 GMT April 7, 2010
USDJPY
Entry: Target: Stop:

USD/JPY : Resistance at 94.33


The market is able to move higher to 93.92 - 94.15.

Melbourne Qindex 02:13 GMT April 7, 2010
USDCAD
Entry: Target: Stop:

USD/CAD : Resistance at 1.0021



The market is going to consolidate within 0.9987 -1.0020 for the time being. A critical supporting point is expected at 0.9982.

Syd 01:59 GMT April 7, 2010 Reply   
Japan retail investors likely to sell USD/JPY on any further falls, possibly accelerating any drops, says senior FX dealer at major Japanese bank. Unlike Japan, overseas institutional investors, Japan retail investors were slow to get behind USD/JPY-buying trend in late March; says "that means that since they wound up buying at higher prices, they will be quicker to sell to lock in profits on any falls." Many retail investors bought USD/JPY only after it had risen to 92.50, dealer says; for this reason, they have been selling after minutes from FOMC March 16 meeting overnight suggested Fed was reluctant to raise rates too soon. USD/JPY 93.75, off earlier lows but still down from intraday high of 93.84

Syd 01:00 GMT April 7, 2010 Reply   
BCC's Kern Sees BOE Rate at 0.5% Until at Least NovemberLINK
Australia’s Booming Exports May Prove ‘Game Changer’ on Rates
April 7 (Bloomberg) -- Australia’s central bank may need to raise interest rates by more than previously estimated as an export-led rebound reshapes the nation’s economy and threatens to stoke inflation.
Governor Glenn Stevens will increase the overnight cash rate target to 5.25 percent by the end of March 2011
LINK

Hong Kong 00:52 GMT April 7, 2010 Reply   
Market Review - 06/04/2010 22:02GMT
Fed minutes suggests rates could stay low for some time

On Tuesday, the single currency declined the most against the dollar in almost two weeks as Greece tried to end speculation it may be having doubts about a plan that European Union and International Monetary Fund provides support in refinancing its debt. Euro traded with a soft undertone throughout the day and price fell to an intra-day low of 1.3355 in NY mid-day before rebounding after the release of the Fed minutes which displayed concern on U.S. recovery. In other news released earlier, it was reported that Greece wants to bypass IMF involvement if it needs assistance because the conditions would be too stringent. The nation’s finance minister denied it.

Versus the yen, the buck remained under pressure on Tuesday after hitting a 7-month high of 94.78 in the previous session. The pair eventually tumbled to an intra-day low of 93.66 in NY afternoon after the release of Fed's meeting minutes. The minutes showed policy makers see signs of a strengthening recovery that could be hobbled by high unemployment and tight credit. Some warned of raising interest rates too soon. Conclusively, U.S. interest rates could stay low for even longer than investors have been anticipating as suggested by the tone of the minutes.

RBA Glenn Stevens raised the benchmark to 4.25% on Tuesday and said rates need to 'be closer to average' to amid an expanding domestic economy. Despite a brief fall to 0.9165 before RBA's rate decision, aussie took off after RBA's hike as the decision was not fully anticipated and RBA's comments on the economy were positive. Price reached an intra-day high of 0.9289 in NY afternoon before stabilising.

Economic data to be released on Wednesday include: Japan BOJ Interest Rate, Swiss Retail sales, Germany Services PMI, EU Services PMI, GDP, U.K. Services PMI, U.K. Services PMI.

http://www.acetraderfx.com

Melbourne Qindex 00:36 GMT April 7, 2010
USDJPY
Entry: Target: Stop:

USD/JPY : In the mean time the market is consolidating within 93.51 - 93.92.

GVI Forex Blog 00:33 GMT April 7, 2010 Reply   

Greece Worries and Fed Minutes Boost U.S. Dollar

Los Angles T 00:25 GMT April 7, 2010 Reply   
EURUSD
Entry: Target: Stop:

Thanks for all your ideas.

I'll put tight SL before Europe section join the market.

happy trade, best regards! :)

Melbourne Qindex 00:13 GMT April 7, 2010
USDJPY
Entry: Target: Stop:

USD/JPY : Critical Support 93.43



Speculative selling pressure will increase when the market is below 93.43.

USA ZEUS 00:04 GMT April 7, 2010
Los Angles T 22:32 GMT April 6, 2010

Mr T- Me thinks that yes it was to dip off the peak but just like GBP/USD , we may be entering a theme of two-way flows. Could be wrong of course.

Happy Day!

USA ZEUS 00:01 GMT April 7, 2010
LA BV 23:53 GMT April 6, 2010

BV- Depending on your time frame and objective, me thinks it is a buy on deeps.