Forex Forum Archive for 12/30/2007

Hong Kong Qindex 23:59 GMT December 30, 2007 Reply   
USD/JPY : The initial downside targeting points are 111.34 and 111.50.

Hong Kong Qindex 23:57 GMT December 30, 2007 Reply   
USD/JPY : The market is under pressure and a resistant point has been established at 113.57. The market can easily move between 112.24 and 112.35. Once the market can penetrate through 112.06 we should be able to see 111.77.


Hong Kong Qindex 03:57 GMT December 28, 2007
Subject:
USD/JPY: Critical Support at 112.68


The market is going to test the supporting strength of 113.12 - 113.17. As shown in the pattern of the monthly cycle charts the market has potential to go all the way back to 111.16. A critical supporting point is located at 112.68. Projected barriers are located at 112.30 and 113.04.

USA Zeus 23:56 GMT December 30, 2007 Reply   
Well I don't believe in HK RF's anti USA unbalanced propaganda and constant BS Zeus "Nationalist BS" attacks..

The only black hole about such ridiculous theory is that those who don't own USD's will be vacuumed in whole into the black abyss. The powers to be have spoken and they choose the USD in overwhelming majority to hold the USD as the premier currency of choice for a reason. Cycles come and go. The weak USD cycle on the major scale is done. The USD and the strong dollar policy will rally hard in 2008.

As for posted GBP/USD shorts from the top at 2.1112- have moved it all to break even for what may develop into 5000+ pip gains.

Cheers!

USA Zeus 23:39 GMT December 30, 2007 Reply   
hong kong nt 15:34 GMT December 30, 2007

USA Zeus 15:56 GMT November 8, 2007
covered the remaining SP 500 shorts and shorted GBP/USD 2.1112.


Keep trying tiger!

USA Zeus 23:36 GMT December 30, 2007 Reply   
hong kong nt 15:34 GMT December 30, 2007

LMAO

USA Zeus 23:35 GMT December 30, 2007 Reply   
sgp cc 16:00 GMT December 30, 2007

We all did these trades as well.
I prefer calling out the not so obvious LOL

USA Zeus 23:34 GMT December 30, 2007 Reply   
Warning- USD rally is coming!

Hong Kong Ahe 21:58 GMT December 30, 2007 Reply   
Sofia Kaprikorn 21:45 GMT - Only one trade day before holiday of Jan01,2008. Carry trade may be back. but it may be range in thin market. GLGT. Every success in New Year 2008.

Halifax CB 18:58 GMT December 30, 2007 Reply   
HK RF@ 03:34 GMT December 30, 2007
Good story, but also another moral - those sorts of changes in wave behaviour are also caused by things you wouldn't see in immediately, like variation in the bottom profile. Rather like fundamentals...Reminds me when the head of the Coast Guard in Nfld sank his private yacht off a headland near where I was living at the time; his excuse was that the charts were wrong. (As it was New Year's Eve, IIRC, I don't think too many believed him though, lol)

London NYAM 18:55 GMT December 30, 2007 Reply   
It looks like another attempt at 1.4750 resistance may be attempted before a decent retrace to 1.45xx. It may runout of steam as the safe haven buying argument may kick back in.
But it looks like any new high for the dollar has been postponed. I beleive 1.50 is back on deck.

I hope all those in Pakistan are safe.

austin gw 18:36 GMT December 30, 2007 Reply   
sgp cc - that's unnecessary. Z is a valuable member to this forum. His "contra" views have forced me (us) to look at the markets from a different vantage point than the masses. Hopefully you have made pips from some of those views - or at least limited some losses.

But regardless, here's to a more positive outlook for the year ahead. Best wishes to all on this forum. It has proven to be a valuable learning tool for me this past year.

sgp cc 16:00 GMT December 30, 2007 Reply   
zeus - I went long euros at 0.88. Sold at 1.48. Still have a bridge to sell, you interested?

hong kong nt 15:34 GMT December 30, 2007 Reply   
USA Zeus 17:04 GMT December 28, 2007
Went long 1.4377 (Did not post this. Only mention it now to complete the current crest view) and switched to model short 1.4718+ when triggers fire.

I went short GBP 2.11 (Did not post this) and reversed at 1.97.

Norway e.s 14:29 GMT December 30, 2007 Reply   
Hong Kong Qindex 09:49 GMT
Thank you very much!

Hong Kong Qindex 09:49 GMT December 30, 2007 Reply   
Norway e.s 22:43 GMT - My system is a mathematical model and it has been upgraded recently.

HK RF@ 05:05 GMT December 30, 2007 Reply   
http://www.gulf-daily-news.com/Story.asp?Article=204161&Sn=BUSI&IssueID=30285

WOOOW Now we really don't know what will happen.
Yes!!! Maybe that is the black hole the Dollar is heading to>>> "SUDAN" a backward of country that begins to chirp.
------------------------------------------------------------
Sudan central bank to deal only in euro


KHARTOUM: The Central Bank of Sudan has announced it would deal only in the euro from Tuesday, and advised local commercial banks to opt for convertible currencies other than the US dollar.

The announcement, made public in a circular note distributed to the banks, reflected efforts by the central authorities to steer away from the weak greenback amid a Sudanese economic boom.

The new policy note, signed by Governor of the Central Bank Sabir Mohamed Al Hassan, said all central bank dealings would be in the euro starting with the New Year.

For a provisional period, dealings along with the euro would also be possible in the Saudi riyal and the UAE dirham.

The note also advised commercial banks in the country to conduct their dealing with customers and foreign partners in currencies other than the US dollar, with the view to "lessen the risk of continuing to deal in the US dollar."

The banks should advise their account holders to commute their US dollar assets to other currencies and "enlighten them on the risks associated with maintaining balances in the American dollar," it said, without elaborating what those risks could be.

The advisory also said the commercial banks may continue to accept the US dollar but would themselves "bear the risks resulting from those dealings."

However, the central bank made it clear that moving from the US dollar to other currencies is "optional and not mandatory for the banks or clients."

There was no immediate explanation as to what prompted the measure.

Despite its currency's long-standing link to the US dollar, after a decade of American sanctions, Sudan has few commercial ties to the US at this point.

Nearly three-quarters of Sudan's trade is with Arab and Asian nations and Sudanese firms have already shown themselves able to avoid dollar transactions by using the euro instead.

Last year, Sudan's economy grew by 12 per cent, according to the International Monetary Fund. That growth was propelled by the estimated 500,000 barrels of oil produced each day - two-thirds of them bought by China.

HK RF@ 03:34 GMT December 30, 2007 Reply   
Some of my experience by traveling in nature, gave me some help in trading.

Well it goes like that: That one day I took a small boat traveling to an island.
On the way we were attacked by relatively high waves, which almost capsized the boat, kind of clapping waves coming randomly from all directions.
I watched the navigators who brought the boat to a very slow move. They were just looking intensively into the sea as if waiting for something to happen. And so it did; In the middle of the stormy sea was suddenly formed a channel of silence, likely by waves canceling each other, and immediately at that time they increased the speed of the boat to maximum to get out from that place.

So it is in many situations in life and in trading too; The market may swing your mind right and left, but you have to wait for that clear channel to ride in it and make a little money.

Syd 03:24 GMT December 30, 2007 Reply   
Bin Laden Vows To Expand Al-Qaida Holy War To Attack Israel


CAIRO (AP)--Osama bin Laden made an unusually sharp threat of attacks against Israel in a new audiotape posted on the Web Saturday.

"I would like to assure our people in Palestine that we will expand our jihad there," Bin Laden said.

"We intend to liberate Palestine, the whole of Palestine from the (Jordan) river to the sea," he said, threatening "blood for blood, destruction for destruction."

Bin Laden and other al-Qaida leaders frequently vow to liberate Jerusalem and Palestine in their messages. But the latest comments were a more direct language than bin Laden usually uses. Israel has warned of growing al-Qaida activity in Palestinian territory, but the terror network isn't believed to have taken a strong direct role there so far.

"We will not recognize even one inch for Jews in the land of Palestine as other Muslim leaders have," bin Laden said.

Most of the 56-minute tape dealt with Iraq, in the latest attempt by al-Qaida to keep its supporters and other insurgents in Iraq unified behind it at a time when the U.S. military claims to have al-Qaida's Iraq branch on the run.