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Forex Forum Archive for 05/23/2007

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hk ab 23:57 GMT May 23, 2007 Reply   
RF//feeilng the same.

Gen dk 23:47 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

dc CB 23:47 GMT May 23, 2007 Reply   
CADites

Cerberus-BCE

HK [email protected] 23:43 GMT May 23, 2007 Reply   
Wherever you step all news about yen are negative.
Maybe we are really facing a significant correction coming out of carry traders closing their positions.

NY RP 23:37 GMT May 23, 2007 Reply   
Alot of chatter about Greenspan. Here are mythoughts. He was considered the "maestro" by many if not all. CNBC would follow him into the Fed meetings guessing what was in the global suitcase. He was responsible for some great times. IF, and that is a strong IF, the best times have been seen and major adjustments occur, fingers will be pointed all over the place and Wall St and Fed will want to put the blame on someone. Well Al knows the game all too well. Now he is for hire and speaks it the way it is w/o political backlash and smoothing. He can now speak his mind and talk the realities and consequences for easy money and easy times. Everyone has a new addition on their home, new fneces, new cars, new homes, new boats, new motorcycles and so on and so on. Well nobody in America (on average) has any money in the bank nor any equity (almost no-one) left in their homes in the even anything unexpectedly occurs. So the maestro plays the reality card and claims good chance of recession and the crack party (China) will be broken up by the act of what goes around comes around. Got "GOLD"? Just my thoughts. Maybe its nothing and the Fed steps in to counter the efffects of AL to show teh world his words mean nothing anymore, or not. Good luck everyone.

Syd 23:01 GMT May 23, 2007 Reply   
Stocks edged lower on Wednesday as a warning about Chinese stocks by former Federal Reserve Chairman Alan Greenspan erased gains fueled by takeover talk in the aluminum sector. Greenspan said he feared a "dramatic contraction" in Chinese stocks after the recent boom, adding the run-up was "clearly unsustainable." http://www.canada.com/nationalpost/financialpost/story.html?id=60017df1-cf8b-4c76-94ba-f6a1c883bc8f&k=98266



--------------------------------------------------------------------------------

Syd 22:51 GMT May 23, 2007 Reply   
NZ 12-Months To Apr Trade Deficit NZ$6.02B; Mkt -NZ$5.81B

Monaco Oil man 22:48 GMT May 23, 2007 Reply   
Evening,


CAD keeps going, a bird on amphetamines with a nasty bloody beak , eating stops as it flies..

CAD inflows are going back to "normal" (See a few months ago GVI CAD inflow post)...

My parity approaches and is now at a few wings distance..

----

Re INR , Deepack , if you can get my email from Jay and pass me the data , i can run a few things..Though even without looking fundamentally, it's WITHOUT question target 20 within 5-10 years (if not less)..
gl gt

Syd 22:41 GMT May 23, 2007 Reply   
Britain takes the silver medal in 'debt Olympics'

Now, here's an interesting fact, according to U.S. Government stats. the UK has the second highest debt in the known world. Take that a stage further once you amortise the population stats into the figures (we have approx. a fifth of the US population) then per head of population we have the highest debt per head on the planet.
Now only if you could make spending an Olympic sport in 2012. Unlike Ben Johnson we wouldn't need steroids in order to win, just plastic cards...
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html

Halifax CB 22:09 GMT May 23, 2007 Reply   
Halifax CB 22:05 GMT May 23, 2007
PS - I'll even do the math & analysis, if someone would kindly furnish the HF data (I have ccy's, not rates).

HOU rj 22:08 GMT May 23, 2007 Reply   
This meant for the newbees
Trend only travelles a few pip a day , lucky if it travells more than the spread plus the premium
I wish every day it travells 80/100 pips

Halifax CB 22:05 GMT May 23, 2007 Reply   
NativeFX - well, FWIU, the classical Mundell formula give the rate of change in the logarithm of the exchange rate = difference of the parties risk-free interest rates, but I've never seen it analyzed as to the actual truth of the equation on a ST basis, especially when a variety of terms are taken into account. Just eyeballing charts seems to indicate it's of second order importance, perhaps when written as an order 2 DE...Though that's entirely impressionistic on my part. I'd really like to have a pointer to a paper where someone actually did the math against real data on modern markets.

Halifax CB 21:55 GMT May 23, 2007 Reply   
BTW, -0.83 pips-per-hour ain't bad, when you multiply it out *24hrs/day,21 trading days per month (roughly speaking), even when rollovers are acounted for....As an aside, it's a great indicator.....

Honolulu NativeFX 21:51 GMT May 23, 2007 Reply   
Anyone looking at the EUR/USD right now?

The dollar rallied over the past few days while the US 10 year was pushing 4.8 which placed the gap between the two at just over .5%. With the 10 year note coming off now and the spread closer to .4%, it supports the idea that the eur/usd should be headed higher from here.

With that said, if the technical analysis is right, pair
could very well push up to 1.36 before the end of the week

Any thoughts

Halifax CB 21:49 GMT May 23, 2007 Reply   
Mtl JP 21:45 GMT May 23, 2007
Yes, 'tis true, the '97 SaturnBentley isn't built for speed...

Mtl JP 21:45 GMT May 23, 2007 Reply   
CB 21:35 / market accepts all types, including "slow hand and an easy toch", perhaps "travelling at about -0.85 pips per hour" as I seem to have observed some such coastings. Some may like the zero-to-100-to-zero in under 3 seconds type acceleration/stop 'n reverse, which could cause deadly whiplash to the slow 'n easy moveralongs, especialy IF they happen to be in the passing lane while passing the dubbie.

Auckland peat 21:37 GMT May 23, 2007 Reply   
imo Chand Momentum Oscillator kicks RSI's a**

Halifax CB 21:35 GMT May 23, 2007 Reply   
Mtl JP 20:25 GMT May 23, 2007
Ultimately that is what trading is all about: reducing decions to a single in/out action.

Hmm, I prefer trading with a slow hand and an easy toch. so to speak :)

Personally, I look forward to when we can trade in nano-lots. Current trading is like working with the old Bohr model of the atom, as versus modern probabalistic models.

GVI john 21:34 GMT May 23, 2007 Reply   
Updated Daily Forex Charts...
EUR/USD USD/JPY USD/CHF GBP/USD EUR/GBP EUR/JPY
EUR/CHF AUD/USD GBP/JPY GBP/CHF USD/CAD CHF/JPY
Access accurate and free GVI


Updated twice daily. Access GVI free

Chart Points and Moving Averages

Mtl JP 21:29 GMT May 23, 2007 Reply   
GVI john / Thursdays' Apr Durable Goods might prove interesting IF the orders show yet another +ive; might reflect on a couple enthusiasts about general econ prospects (unless inventories were near zero and needed some re-plenishing)

GVI john 21:18 GMT May 23, 2007 Reply   
GVI Calendar of selected key economic data, central bank meetings, etc....

Mtl JP 21:13 GMT May 23, 2007 Reply   
HOU rj 20:36, just try it.

London NYAM 21:10 GMT May 23, 2007 Reply   
It may be better to take a short on the usdjpy. The s/l level is clearer. The cross requires taming a beast.

London NYAM 21:09 GMT May 23, 2007 Reply   
Its late Bay so i'm a little 'loose.' Good luck and no worries (unless USDJPY breaks through 121.85). Perhaps Dr Q's storm is here: first in butterfly form?

USA BAY 21:08 GMT May 23, 2007 Reply   
LONDON NYAM,

I am flat now but contemplating a short possie in gbp/jpy, just not sure if it has topped out. Where do you think the s/l should be. tia

London NYAM 21:05 GMT May 23, 2007 Reply   
USA BAY 20:25 GMT May 23, 2007//The worst should be over of you are short. GBP will rally but JPY will too. The key was the alst high it needs to stick. If your long i think your days are numbered. :)

HOU rj 20:36 GMT May 23, 2007 Reply   
My dear friend Mtl
If that is so easy , I wish

HOU rj 20:29 GMT May 23, 2007 Reply   
Mtl
I think we r going to beccome good trading friends

Mtl JP 20:25 GMT May 23, 2007 Reply   
HOU rj 20:18 / why complicate life with challenge, especialy that of the newbie ?
One t-line is plenty: below it favour short, above it favour long possies. K.I.S.S. and resolve the challenge of indecision. Ultimately that is what trading is all about: reducing decions to a single in/out action.

USA BAY 20:25 GMT May 23, 2007 Reply   
Anyone has views on gbp/jpy?? The charts shows down but I feel we may see a gbp rally. TIA

HOU rj 20:24 GMT May 23, 2007 Reply   
This is meant for the newsbee
Keep drawing the trendlines as per u r TF
I am off `

HOU rj 20:18 GMT May 23, 2007 Reply   
This is meant for the newbees
We need to draw a lot of trend lines
Which one is the actual trend line is the challenge
between u and the so called
It take time, be patient

dc CB 20:12 GMT May 23, 2007 Reply   
Taking a bit off the table.

Serious Money

London NYAM 20:04 GMT May 23, 2007 Reply   
Three bounces off the high and the third try for SAP ends on its low. Tomorrow's action will be very interesting. Where is that darned liquidity? Almost like John Authors called the 'shadenfreude top.' Will G-span curse Shanghai? Hehe doubt his reach extends that far (or does it!?).

HOU rj 20:03 GMT May 23, 2007 Reply   
Let it go up or down who cares
Follow the market like a shadow
Excuses me, this is smeant for the newbees

NY RP 19:57 GMT May 23, 2007 Reply   
Looks like Wall St. will have to have Paulson and Co in to step up the boyz actions to convince the world that the man who was famed as the "best" is now calling an end to the financial spicket of speculation "bubble" mania. Now that Greenie is off the payroll the punches will start to be thrown. "Code Red" on the street, the Dow cannot close down more then 20 points and the buck must close off its lows. LOL Just playing around. I am sure some light will be shed on this scenario shortly. Until then Euro may go up or down, i think. GL

HOU rj 19:55 GMT May 23, 2007 Reply   
LA Daniel
No comments
What ever works according to u trading plan should work for u

Las Vegas Daniel 19:47 GMT May 23, 2007 Reply   
HOU rj – I like RSI as well, and love the seeming magic of Fibonacci and Elliott Waves. However, by far my favorite indicator is ‘Parabolic Stop and Reverse’.

HOU rj 19:35 GMT May 23, 2007 Reply   
Hallifax
I do respect the good work done by our elders
Till today I have got nothing to contradicate them

Halifax CB 19:30 GMT May 23, 2007 Reply   
HOU rj 19:16 GMT May 23, 2007
In case there's any intrerest - RSI was introduced by J. Welles Wilder, Jr. in his book "New Concepts in Technical Trading Systems".. It's 30 years young next year, and should be on any trader's shelf (techies or not).

HOU rj 19:30 GMT May 23, 2007 Reply   
There is good saying in South India
The Dog waiting for a cry and a cocconut fell to his head
For the newbees this is how the
Technicals and fundamentals behave

dc CB 19:23 GMT May 23, 2007 Reply   
very nervous market going into 3 day US weekend.

Briefing.com:
15:15 Greenspan comments on China being cited for intraday pullback in the market... see 14:10 comment
The Dow (-4.3) has come in as much as 60 pts since the Greenspan comments with the vast majority of the move occurring within 15 minutes of the Reuters story highlighting Greenspan's comments.

HOU rj 19:16 GMT May 23, 2007 Reply   
This is meant for the newbees
RSI is a great indicator
Do we know,who ever invented it,given the complete formula
Do we know that we are watching the chart adhere to the same formula prescribed by the inventor
so a lot of hard work
It is not that simpile , click , click

Las Vegas Daniel 19:08 GMT May 23, 2007 Reply   
Halifax CB - I would agree with your assessment and timeline. I am not sure what will happen when it reaches the cluster support at 1.3364. Probably it will provide support for a ‘B’ wave correction. I stand corrected about being alone, thanks for chiming in Hawthorn.

hawthorne, ca thetrendmyfrenz 19:05 GMT May 23, 2007 Reply   
LAS VEGAS,

im bearish on EUR/USD, been bearish for a few weeks,
imo EUR/USD rally is over for now and its going to 1.27/1.25 area before we see a sustainable bounce.

Halifax CB 18:48 GMT May 23, 2007 Reply   
Euro/Usd Chart. A clear day above or below the channel or a touch above or below 2 STD's (not shown, I'll put them on if we get near) would probably have me looking for the exit.

Halifax CB 18:38 GMT May 23, 2007 Reply   
las Vegas Daniel 18:16 GMT May 23, 2007
No, I am as well, but only (for now) in the ST, since the trend is counter to the main direction of the pair. It has been travelling in a down channel since about 1/May; the channels is very narrow with a STD of about 50p, which makes a SL of roughly 100p, and targetting roughly 1.3375, early June.

dc CB 18:35 GMT May 23, 2007 Reply   
The Greenspan deflator: Dow drops 70pts, SnP 7pts

14:10 Greenspan sees dramatic drop in Chinese stocks -
Reuters.com reports former U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday he feared a "dramatic contraction" in Chinese stocks but said the global economy may be able to shrug off a drop in asset prices. Addressing a meeting in Madrid via teleconference, Greenspan said the recent boom in Chinese stocks could not last. "It is clearly unsustainable," he said "There's going to be a dramatic contraction at some point." Greenspan also said a correction could cause problems for Chinese personal wealth. Some analysts have speculated that the Chinese government could be tempted to dip into its reserves to bail out any stung investors and avoid social unrest.

las Vegas Daniel 18:16 GMT May 23, 2007 Reply   
I have decided that I am the only person left on the planet that bearish on the EUR/USD cross. Despite this morning upward rally its strength ended abruptly and its effect has waned over the last few hours. We now find ourselves exactly where we were twelve hours ago – not counting all the pips I’ve captured. So much for the headline theory that the minor correction on the way to 3800 plus is over.

Gen dk 18:11 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

madrid mm 17:41 GMT May 23, 2007 Reply   
St. Annaland Bob 17:30 GMT May 23, 2007
€/¥ 164 done

What do we do ? Call the German Finance Minister ? LOL
History in front of our eyes. If i ever have grand children , i will be able to say " i was there when €/¥ hit the Magical (?) 164 level." LOL

madrid mm 17:37 GMT May 23, 2007 Reply   
Halifax CB 16:13 GMT May 23, 2007

Just go for it Halifax !!!

You never know. let me remind you the so many wise words of Einstein - " Imagination is better than knowledge."

Put in a good word for me .I am FXtrosician and FXthematician 8-)

madrid mm 17:34 GMT May 23, 2007 Reply   
May 23 (Bloomberg) -- United Nations nuclear inspectors are learning less about Iran's atomic work than they did before the Security Council imposed sanctions, exacerbating fears that the Islamic Republic may be diverting uranium for military purposes.

Deja vu all over again ?

Como Perrie 17:31 GMT May 23, 2007 Reply   
Halifax CB 17:29 GMT May 23, 2007

Ive seen things very similar to yours kalman years ago. Seen other more prices but do not want to become mad to rebuild,...then you got sucked as the markets change and change and you spend time and bucks in programming...computers are slower than humans imo...just good for netting and big pfolios optimisations..some have some lucky shots for some years, but in between there are many sinking but the media reports just those 1-2 pct of lucky ones....similar to lotteries imo

St. Annaland Bob 17:30 GMT May 23, 2007 Reply   
€/¥ 164 done

Halifax CB 17:29 GMT May 23, 2007 Reply   
Perrie - but I have yet to see one available with a good Kalman filter in it, which is surprising, because in real life applications they actually work (and are dead simple...) It's like the article someone here put up a few weeks ago about the developers in Sweden using tools designed for ASW and making a big secret of it; there's actually only a few methods that really work consistently, the rest are grant-getters...

Como Perrie 17:27 GMT May 23, 2007 Reply   
jkt-aye 17:24 GMT May 23, 2007

Oil at 100, maybe in some two years time or whenever from now on. Then pay attention what US will do as has to prepare to be the second leading country in the world behind China in the upcoming years. But risks of wars exists, or a happy global community that changes mind upon the basics of knowledge in developed in the last two centuries.

Como Perrie 17:25 GMT May 23, 2007 Reply   
St. Annaland Bob 17:11 GMT May 23, 2007
:)))

Think a programmer will become mad to try to put down in codes a politcian's mind, thought, knowledge or whatever lives in that primarily corrupted small-mind-cosmos

jkt-aye 17:24 GMT May 23, 2007 Reply   
Como Perrie 17:20 ... so what next ?

Halifax CB 17:24 GMT May 23, 2007 Reply   
Bob - wherever she's content to work (or not)....a good math ticket lets you pretty much explore whatever piques your fancy (in my own case ranging from electroquasistatics to neural nets to acoustics to trading). Most of it, of course, is BS; it plays the same role in today's world as religious philosophy did in the renaissance; sound and fury signifying nothing :). But don't tell....

Como Perrie 17:20 GMT May 23, 2007 Reply   
Halifax CB 17:14 GMT May 23, 2007

Sure maybe a good job...but just think forward for her to find a new job in some two years... black boxes have been orginally born in 1991/2 btw...now sold comercially so means the end of such crap

Halifax CB 17:17 GMT May 23, 2007 Reply   
HK Kevin 16:57 GMT May 23, 2007

GL...Me, I'm banking on the theory that history always repeats itself, but in surprisingly unpleasant ways :)

St. Annaland Bob 17:16 GMT May 23, 2007 Reply   
Halifax CB 17:14 GMT May 23, 2007

do you really wish your daughter to work for hedge fund?

Kaunas DP 17:14 GMT May 23, 2007 Reply   
Kaunas DP 17:13 GMT May 23, 2007

GBP/USD=GBP/JPY

Halifax CB 17:14 GMT May 23, 2007 Reply   
Hey, if they employ astronomers, they can hire my daughter too! (Astrophysics)....

Kaunas DP 17:13 GMT May 23, 2007 Reply   
shorted GBP/USD 241.69 - SL 242.69, TP open

St. Annaland Bob 17:11 GMT May 23, 2007 Reply   
Como Perrie 17:08 GMT May 23, 2007

no, no! ... politicians only by bankers

Como Perrie 17:08 GMT May 23, 2007 Reply   
btw saw they, those hedge funds, employ astronomers...maybe next round will employ politicians.

Como Perrie 17:07 GMT May 23, 2007 Reply   
Halifax CB 16:50 GMT May 23, 2007

;)) those funds hyper computerized will have hard times next years with hyper magnetic activity from the sun...

so far wd not buy anything like that, seen in the 90s already how nice It looks at the beginning and how bad It end in say some five years or earlier..

HK Kevin 16:57 GMT May 23, 2007 Reply   
Halifax CB 16:35 GMT, my s/l may not be safe tomorrow. Need to watch price movement and decide squaring the position or keep it overnight before US market close. For Cable, next strong resistance is 1.9975

Halifax CB 16:50 GMT May 23, 2007 Reply   
madrid mm 15:40 GMT May 23, 2007
Just checked out their website: http://www.rentec.com/

Starting salary for *programmers* is 125-250K ...Course that's only in USD, but holey-moley....

Halifax CB 16:35 GMT May 23, 2007 Reply   
HK Kevin 15:04 GMT May 23, 2007
Kevin - that was a good call; fwiw, you might want to go back eight days or so to the same time and see how that unwound after...

Halifax CB 16:13 GMT May 23, 2007 Reply   
madrid mm 15:40 GMT May 23, 2007
Think they need a Kalman filter tracker? Lol...(they have more research money than DoD...)

Bodrum OEE 16:04 GMT May 23, 2007 Reply   
Before I leave, here is another point to complement my previous post:

GBP/JPY needs sustained speed, reach new highs without loosing sight of the summit in pullbacks and go long way up (almost to 270s).

Could flows to GBP regarding mergers and acquisitions and London overtaking New York as a financial hub be one catalyst for fundamental overvaluation to increase this much (when China and Japan are under pressure to let their currencies appreciate under increasingly better conditions they experience)?

Halifax CB 16:04 GMT May 23, 2007 Reply   
Re current activity on GBP/USD - are there settlements to be cleaned up after closing? Just curious as to the cause of the drop

ldn jas 16:00 GMT May 23, 2007 Reply   
St. Annaland Bob 15:32 GMT May 23, 2007
St Annaland Bob - do you see this as a good area to short gbp/usd ie where the 19888 is holding....thanks

Gen dk 16:00 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

bucharest nick 15:55 GMT May 23, 2007 Reply   
same boring day like yesterday............

madrid mm 15:40 GMT May 23, 2007 Reply   
For hedge fund - Renaissance’s Simons: We Only Hire Scientists ( i am not on his list of potential recruit 8-) )
Click here

Against hedge fund - Canadian Investor Calls Hedge Funds ‘Sc#$%^’ I believe it is what they call Plain Talking Click here

Halifax CB 15:35 GMT May 23, 2007 Reply   
Kevin - I tend to agree, though I've put my SL a little tighter. This is a minute or tick chart trade (not LT unless it develops that way..)

London NYAM 15:35 GMT May 23, 2007 Reply   
pittsburgh pa 15:03 GMT May 23, 2007//
Not really. Need some serious assitance from the euro cross by way of euro weakness which needs to outstrip the impending fall in EUR/GBP.

St. Annaland Bob 15:32 GMT May 23, 2007 Reply   
cable guardian fell in sleep ;)

madrid mm 15:17 GMT May 23, 2007 Reply   
...and the CAD is strong because for the first time ever the Ottawa Senators made it to the Stanley Cup final.!!! And they might just get it 8-)

madrid mm 15:15 GMT May 23, 2007 Reply   
Maybe this GBP move is due to all these English punters betting on Liverpool wining tonight the Champion's 8-)

HK Kevin 15:04 GMT May 23, 2007 Reply   
Risking 30 pips and short Cable here at 1.9888.

pittsburgh pa 15:03 GMT May 23, 2007 Reply   
Looks like the Gbp/Usd is not going to head down anytime soon. Any thoughts?

Bodrum OEE 15:00 GMT May 23, 2007 Reply   
This moment onwards all currencies against JPY could be under technical threat of correction. I am not an expert, please note. However, that is my reading. Good luck to you all.

Gen dk 15:00 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

London NYAM 14:58 GMT May 23, 2007 Reply   
Perrie// USDJPY: It looks like an uptrend to me on pretty much most scales. But i also think its false.

Como Perrie 14:53 GMT May 23, 2007 Reply   
I'll see tomorrow what China has to say on Paulson, while am sticking to the Clinton's foreign specialists comments from Blobmerg earlier for the theme on China - far more prepared imo on global matters..

Como Perrie 14:50 GMT May 23, 2007 Reply   
Tehcnically speaking usdjpy is still in an irregular and false downtrend.

Gen dk 14:47 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Auckland peat 14:43 GMT May 23, 2007 Reply   
lolmadrid mm
me still quite peeved about that Eur turnaaround just stopped me down the 20;s ggggrrrrr
tomorrow is another day
nite
g/l gt

Como Perrie 14:41 GMT May 23, 2007 Reply   
London NYAM 14:32 GMT May 23, 2007

No idea bout usdjpy,, to me is chaotical which means will squeeze at some point big time...more or less as a pinball

madrid mm 14:40 GMT May 23, 2007 Reply   
Auckland peat 14:27 GMT May 23, 2007

i am a contrarian by nature 8-)

Como Perrie 14:35 GMT May 23, 2007 Reply   
Halifax CB 14:29 GMT May 23, 2007

that will take some time now am focusing this move on Iran and if It will be bombed to make a big difference in geopolitcals... if just a warning with massive forces being strategically dispalced then we will have to follow some of the classic rethorics from both sides...but tension will mount globally imo...

London NYAM 14:32 GMT May 23, 2007 Reply   
Perrie// I guess I mean that one would expect the equities to prop up USDJPY since the theme has been that good equity results in the US means good times are still on. So far today the pair hasnt gotten any traction. USDGBP may have been the catalyst but the weakness so far may be spelling spmething out. Still too soon to make any pronouncements and the retracement of this may take some time (Friday?). Or what does it mean if we run into reverse?

Auckland peat 14:30 GMT May 23, 2007 Reply   
I better get some sleep. Pretty sure the 450m lead will suffice for this last race against the Spaniards....
Aud/Yen lost its lustre....closed for not many but some.

Halifax CB 14:29 GMT May 23, 2007 Reply   
NYAM, Peerie - rather than being taken aback at everything surging, I tend to think of one primary thing going down, as the big USD holders like China scale back on vaccuuming up excess $'s...China alone stopping it's reserve growth would cause something like 100 or 200 billion $ a year to wander the streets, looking for a home....

Auckland peat 14:27 GMT May 23, 2007 Reply   
pffft to the French rugby team... the AB's are indomitable.

Como Perrie 14:24 GMT May 23, 2007 Reply   
Spotted aournd on newswires the uranium enrighment by Iran story not to be under western agencies anymore. US naval presence active in the gulf while UN says program not exclusively peaceful

go bushy

madrid mm 14:21 GMT May 23, 2007 Reply   
St. Annaland Bob 13:56 GMT May 23, 2007

200% agree with you . The german Finance minister should read Shangai BC comments and not listening to the japanese Finance minister ...8-)

madrid mm 14:19 GMT May 23, 2007 Reply   
PAR 13:55 GMT May 23, 2007

Imagine what will happen if the All Black win the rugby world cup in France in a few months... lol
I will put some moeny on the french team though with hedging on SA 8-)

Como Perrie 14:19 GMT May 23, 2007 Reply   
London NYAM 14:15 GMT May 23, 2007

It works exactly as the usdindex of once in respect to hedge the mass of carry indebtement globally

dc CB 14:19 GMT May 23, 2007 Reply   
FYI for those interested. Alberto Gonzalez's very own Monica is now testifying under limited immunity on CSpan.

Gen dk 14:16 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

London NYAM 14:15 GMT May 23, 2007 Reply   
Como Perrie 14:13 GMT May 23, 2007//
Also note USDJPY isnt following in lock-step this time. At least not yet...

Como Perrie 14:13 GMT May 23, 2007 Reply   
London NYAM 14:10 GMT May 23, 2007

Note the big driver of the present stock surge were commodity shares. Still room to go if commodities rise imo

London NYAM 14:10 GMT May 23, 2007 Reply   
Markets on roids again:
Dow 13601.63 +61.68 (+0.46%)
Nasdaq 2600.29 +12.27 (+0.47%)
S&P 500 1532.04 +7.92 (+0.52%)
All time high of SAP 1552.87

Como Perrie 14:10 GMT May 23, 2007 Reply   
For metals the technical picture is unclear to me, but fundamentally is clearly on up. Some analyst saying by the end of year far above 730 to 850.. then well am bit puzzled with 1600 gold target, but we have seen something on It on the Nasdaq then on Oil etc.

Melbourne Qindex 14:04 GMT May 23, 2007 Reply   
hk ab 13:59 GMT - I havn't updated my data yet.

Como Perrie 14:03 GMT May 23, 2007 Reply   
As once they said the leveraged supports bubbles, real money makes the turn around

Como Perrie 13:59 GMT May 23, 2007 Reply   
or the JPY index might be as well to recover,, all is trading into chaotical extremes of non forecastability with heavy flows moving across the globe imo

hk ab 13:59 GMT May 23, 2007 Reply   
Dr. Q, any sharing on metals?

Melbourne Qindex 13:56 GMT May 23, 2007 Reply   
HK Kevin 13:46 GMT - I have a funny feeling that USD Index will recover when USD/CAD is losing ground.

St. Annaland Bob 13:56 GMT May 23, 2007 Reply   
madrid mm 13:48 GMT May 23, 2007

if he will at the screen, he will see 12 weekly green candles in a row and currently record highs ... and Shanghai BC said it will go even higher, if Shanghai BC did not said that then I would take now a short

PAR 13:55 GMT May 23, 2007 Reply   
Kiwi benefitting from "Team New Zealand " performance in America Cup .

Melbourne Qindex 13:54 GMT May 23, 2007 Reply   
Mtl JP 13:44 GMT - Market makers will start covering their short positions when the market is able to trade above the following significant levels : 1.0979 - 1.1018 - 1.1181

dc CB 13:48 GMT May 23, 2007 Reply   
more CAD:
Thurs 8:30 ET - Corprate Profits Q1 las 1.5% expect 2.0%
Friday "oil day"
Tues May 29 - Interest rate announcement

madrid mm 13:48 GMT May 23, 2007 Reply   
meanwhile EURO/YEN is carrying on up & up & up ...I wonder if German Finance Minister Peer Steinbrueck is looking at his screen....

Melbourne Qindex 13:47 GMT May 23, 2007 Reply   
CAD/CHF : 1.1285 - 1.2020


AUD/CAD : 0.8639 - 0.9082


GBP/CAD : 2.0482 - 2.1447


EUR/CAD : 1.4394


USD/CAD : 1.0041


CAD/JPY : 116.91


London NYAM 13:46 GMT May 23, 2007 Reply   
USDJPY need to stay below 121.64 to keep this reversal prospect alive s/t

HK Kevin 13:46 GMT May 23, 2007 Reply   
Melbourne Qindex 13:34 GMT, As most of Canadian exports are quoted in US dlr and the price of raw materials has off the recorded high in a downward cycle. I really doubt the fundamental of a strong CAD

Mtl JP 13:44 GMT May 23, 2007 Reply   
Qindex 13:34 / that is a fair amount off my own and intial 1.1040ish that I watch (down-slope line on the daily). The 200dma, which was probably the trigger level for the breakdown, is currently at 1.1420.

madrid mm 13:43 GMT May 23, 2007 Reply   
Alcan Shares Rise in France After Report of BHP Talks to Fend Off Alcoa Shares of Alcan Inc., Canada's biggest aluminum producer, rose in France after the Globe and Mail reported the company was in talks with BHP Billiton Ltd. to fend off a $27.4 billion takeover bid from Alcoa Inc. bloomberg

madrid mm 13:42 GMT May 23, 2007 Reply   
St. Annaland Bob 13:05 GMT May 23, 2007

welcome to the contrarian club 8-) But always hedging !!!

dc CB 13:41 GMT May 23, 2007 Reply   
from Briefing.com earlier:

07:29 AL Alcan: Deal not welcomed by AL; looking for a higher bid - FBR (81.03 ) -Update-
Friedman Billings notes yesterday, after the close, AL's board rejected AA's hostile offer and recommended that shareholders not tender their shares. Co believes that the offer does not reflect AL's true value, and it will continue to consider all options. Firm believes there is a high probability that either AA will raise its offer price or a new bid will emerge, which will benefit AL shareholders either way. Firm continues to believe that the eventual takeout price for AL could reach $87/share, based on their high-end ests.


From Stascan:
Leading indicators
April 2007
The leading indicator rose 0.4% in April, matching its increase in March as well as its average gain in 2006. Household spending slowed from its recent torrid pace, while manufacturing continued to recover from a prolonged slump.

For the second straight month, none of the three manufacturing components fell. New orders posted the largest gain with a 0.9% increase. Aircraft and autos led this advance. The steady growth of orders in 2007 was reflected in a rebound in manufacturing shipments, which helped stabilize the ratio of shipments to inventories. The average workweek also edged up.

Financial market conditions continued to strengthen, with the stock market setting new record highs. Prices rose across the board in April, unlike previous gains which often were concentrated in metals and energy.

The Netherlands Purk 13:40 GMT May 23, 2007 Reply   
Well well it seems that a lot of people got trapped in these upmoves.
Loon looks fine to me, seen this before, and after hitting fresh lows THEY will not give up this easily. Think NN is grinning behind his desk now.
Maybe the bugger will make it to the 164 now because it did not get once again to the 16318.
e/u did not make it to the 13402 so 13512 is on again.
Just when you start to think some pair is on direction it turns for corrections or just reverses. But maybe we are in for a surprise..

madrid mm 13:38 GMT May 23, 2007 Reply   
pittsburgh pa 13:32 GMT May 23, 2007
Im confused ...

We all are everyday 8-) Expect the unexpected


Pune GBP/USD 13:29 GMT May 23, 2007
Keep a tight grip on your MM

London NYAM 13:37 GMT May 23, 2007 Reply   
pittsburgh pa 13:32 GMT May 23, 2007, Pune GBP/USD 13:29 GMT May 23, 2007//
Melbourne Qindex 12:05 GMT May 23, 2007
GBP/USD : A projected resistant level is positioning at 1.9884 - 1.9890.
St. Annaland Bob 12:18 GMT May 23, 2007
cable: 1.9888 may serve as guardian for the next 24-36 hrs
London NYAM 11:54 GMT May 23, 2007
we would need to drop below that local relative high of 1.9767 to feel comfortable with a resumption of the down trend.
Halifax CB 12:49 GMT May 23, 2007
"if this is the end of the ct..."; don't know for sure that it is necessarily so, though its demise looks imminent...

Preponderance of posters here are still M/T bearish. The move looks overdone and seems to be pricing in 6.00 rates this year. Not heard much from the other “cable guys” but you know how cable guys are…never there when you want them.

Melbourne Qindex 13:37 GMT May 23, 2007 Reply   
GBP/USD : It could still be a range market between 1.9552 - 1.9890.

Melbourne Qindex 13:34 GMT May 23, 2007 Reply   
Mtl JP 13:30 GMT - USD/CAD : My view will change when the market is able to overcome the projected resistant level at 1.1148 - 1.1179.

pittsburgh pa 13:32 GMT May 23, 2007 Reply   
Im confused about the Gbp/Usd as well. I thought is was starting its downward movement. Any thoughts?

Mtl JP 13:30 GMT May 23, 2007 Reply   
Qindex 13:17, that might be mighty crushing.

Currently 1.0932 caps, what price point do you concider for trend change ? tia.

Pune GBP/USD 13:29 GMT May 23, 2007 Reply   
Hello All Great Members of this Forum.......

Can any budy suggest me for GBP/USD...... wat should to do in the position

Reply.......

Melbourne Qindex 13:27 GMT May 23, 2007 Reply   
USD/CAD : Speculative selling pressure will increase when the market is trading below 1.0826. The next two downside targets are 1.0684 and 1.0610.

HK Kevin 13:26 GMT May 23, 2007 Reply   
USD/CAD at 1.0187, quite scared, but everything is possible in the fx market. Guees it is a wrong decision to sell my house in Vancouver last year.

Melbourne Qindex 13:17 GMT May 23, 2007 Reply   
HK Kevin 13:10 GMT - Good evening! I guess USD/CAD is heading towards 1.0187.

London NYAM 13:15 GMT May 23, 2007 Reply   
EURGBP has a neckline break. Close below would portend a rather radical move. Certainly looks like a c-wave is in play suggesting targets of .6661 to .6700

HK Kevin 13:10 GMT May 23, 2007 Reply   
Melbourne Qindex, good evening. I still can't figure out the storm mentioned by you yesterday.

St. Annaland Bob 13:05 GMT May 23, 2007 Reply   
ok ... time to trade some contras again

London NYAM 12:54 GMT May 23, 2007 Reply   
Como Perrie 12:34 GMT May 23, 2007//
Now I think I got you. The liquidation of dollar positions into CAD would be partially funded by the liquidation and conversion of other currency (longs) pairs against the dollar to fund the shortfall. This would put fund flows against the contra currencies you mentioned. I guess?

Melbourne Qindex 12:50 GMT May 23, 2007 Reply   
GBP/USD : Use the following reference


Daily Cycle : ... 1.9600 - 1.9629* - 1.9644 - 1.9666 // 1.9688* - 1.9710 - 1.9717 - 1.9731 - 1.9746* - 1.9753 - [1.9775] - 1.9804 - 1.9804* - 1.9819 - 1.9833 - 1.9841 - 1.9863* // 1.9884 - 1.9906 - 1.9921* - 1.9950 ...

Halifax CB 12:49 GMT May 23, 2007 Reply   
ldn jp 12:06 GMT May 23, 2007
Sorry I wasn't clearer, the coffee is just taking effect now...
The counter trend I was referring to is the move down in GBP/USD that started ~ April 18th. I look at it as counter to the longer uptrend in the pair, that started ~ 3rd week of April, 2006 (funy thing those dates, never noticed...). BTW, i meant to say "if this is the end of the ct..."; don't know for sure that it is necessarily so, though its demise looks imminent...

St. Annaland Bob 12:43 GMT May 23, 2007 Reply   
today is 23rd and the UN limit ends today ... but, 26th has to do with Nimitz & Stennis, both USS

melbourne DC 12:43 GMT May 23, 2007 Reply   
12:28gmt NEWS: China Is Prepared For Further CNY Flexibility PBOC"s Zhou London, May 23.

hk ab 12:39 GMT May 23, 2007 Reply   
it's from GD long ago already,.

St. Annaland Bob 12:37 GMT May 23, 2007 Reply   
ab ... source pls. per the Iran issue

Como Perrie 12:34 GMT May 23, 2007 Reply   
London NYAM 12:26 GMT May 23, 2007
Doubt is a pure technical move. Seemingly are real monnies mostly from the pfolios which are mostly Usd, but also all the other currencies would be flow there in their respctive percentages. imo o.c. and o.c. might be wrong

Gen dk 12:30 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

hk ab 12:27 GMT May 23, 2007 Reply   
Iran limit

London NYAM 12:26 GMT May 23, 2007 Reply   
Como Perrie 12:20 GMT May 23, 2007
St. Annaland Bob 12:16 GMT May 23, 2007

"Tend to think the candian if drags down trough the usd, might pose limits to eur, aud, nzd, gbp surges"
Why do you think the CAD surge would have a negative effect on the other crosses? I would have thought the reverse...

ldn jp 12:26 GMT May 23, 2007 Reply   
hk ab 12:10 GMT May 23, 2007
can you clarify what you mean about May 26th? thanx

St. Annaland Bob 12:25 GMT May 23, 2007 Reply   
Perrie ... I don't mean CAD ... CADJPY has the key @ 112.20 per many JPY crosses ... let's see

Como Perrie 12:21 GMT May 23, 2007 Reply   
But you now the plung protected markets nowadays usually are capable to stop such moves, not always however

Como Perrie 12:20 GMT May 23, 2007 Reply   
St. Annaland Bob 12:16 GMT May 23, 2007

Tend to think the candian if drags down trough the usd, might pose limits to eur, aud, nzd, gbp surges...as suspecting the move down would be different from classics we used to see...risk is for large extension lower imo..

St. Annaland Bob 12:18 GMT May 23, 2007 Reply   
cable: 1.9888 may serve as guardian for the next 24-36 hrs

St. Annaland Bob 12:16 GMT May 23, 2007 Reply   
30-35 pips s/l and 100-120 pips targets chances are all around the board ... happy and safe trades!

Como Perrie 12:16 GMT May 23, 2007 Reply   
some 20-30 pips lower the usdcad might get critical, but some might be defending..soon to say so far either ways, but the pressure lower mantains It strenght

Como Perrie 12:14 GMT May 23, 2007 Reply   
Watch the canadian

ldn jp 12:13 GMT May 23, 2007 Reply   
26th May - can you clarify please?

Bodrum OEE 12:13 GMT May 23, 2007 Reply   
The Japanese economy is stronger than it is in 23 January 2007. Interest rate hike potential there and China is greater today compared to western ones. Fundamental and technical undervaluation of Asian currencies are at record breaking levels. Starting from Chinese front people are starting to realize the structural problems this picture create there. Interest rate differentials could evaporate at an inconcievable pace.

I do not think this balloon is one that can carry on expanding.

I am afraid it is not different this time.

Good day to you all

hk ab 12:10 GMT May 23, 2007 Reply   
all of a sudden, usd becomes toilet paper again. people must remember 26th May now.

GENEVA JFO 12:10 GMT May 23, 2007 Reply   
Hihi Guys,

Eur/usd : After rebound from 1.3420, res level will set at 1.3525/35.

If this res can hold for 12hours we could see 1.3420 again and even lower 1.3360/70

Gd trd all

St. Annaland Bob 12:09 GMT May 23, 2007 Reply   
€/$: 13515 will be taken or not ???

ldn jp 12:06 GMT May 23, 2007 Reply   
Halifax CB 11:48 GMT May 23, 2007
Please could you clarify which direction you mean when you say counter trend ie are you saying the trend was down or up for gbp/usd. Also are you trading it ie long or short?...thnx

Melbourne Qindex 12:05 GMT May 23, 2007 Reply   
GBP/USD : A projected resistant level is positioning at 1.9884 - 1.9890.

Melbourne Qindex 12:04 GMT May 23, 2007 Reply   
GBP/USD : A projected resistant point is positioning at 1.9890.

Halifax CB 12:04 GMT May 23, 2007 Reply   
NYAM - sorry, for GBP i meant GBP/USD. And yes, I am short. Ouch again :) I guess the only two crosses I ever trade are eur/jpy, and gbp/jpy; the last when I'm feeling truly suicidal (Do ya feel lucky, boy, ...do ya?)

BTW, good comment on the pair. One of the things I still have yet to do is sit down and calculate the distribution of daily movements, say at standard likelihood steps. it's really easy to forget that GBP/USD likes to jump one way or another very quickly, just when all is looking really rosy, but a move like this isn't all that unusual, IIRC (I'm still foggy & working on my first cup of coffee...)

Gen dk 12:03 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

GVI john 11:57 GMT May 23, 2007 Reply   
Updated Daily Forex Charts...
EUR/USD USD/JPY USD/CHF GBP/USD EUR/GBP EUR/JPY
EUR/CHF AUD/USD GBP/JPY GBP/CHF USD/CAD CHF/JPY
Access accurate and free GVI


Updated twice daily. Access GVI free

Chart Points and Moving Averages

London NYAM 11:57 GMT May 23, 2007 Reply   
You have to admire how Cable can actually put the squeeze on a mega currency pair like USDJPY. Check out the intarday high ijterval charts. Great stuff.

London NYAM 11:54 GMT May 23, 2007 Reply   
London NYAM 05:32 GMT May 23, 2007
“Of course there is a risk that the GBP will go ballistic after todays minutes are released. That is the prob with the beast.”
Had to self-quote.
CB// I take it you are short GBP is that vs CAD or two separate posies?
I agree with your contention but we would need to drop below that local relative high of 1.9767 to feel comfortable with a resumption of the down trend. The correction now has the makings of a clean ABC but unfortunately it hasn’t really stretched out in time quite far enough. A reversal below the 1.9767 figure would be REALLY bad for cable and I would expect a massive acceleration to belo1 1.9600 should that occur.

GVI john 11:53 GMT May 23, 2007 Reply   
GVI Calendar of selected key economic data, central bank meetings, etc....

Halifax CB 11:48 GMT May 23, 2007 Reply   
RE GBP/USD, right now about the only nice thing I can say is that this is the end of the counter trend, it will have confirmed a 10-12 day filter as a a reasonable one for the pair, as the low point of the ct would be right at the 1 deviation mark....Silver linings, and all that :)

Halifax CB 11:43 GMT May 23, 2007 Reply   
Re. GBP/USD, all I can say is ouch. The channel posted yseterday stays intact until tomorrow (or a break of 2 stds, perhaps, on the houlies), but still, spikes hurt. OTOH, there was a similar spike 8 days ago that was, in the end, good for selling...

Re USD/CAD the counter trend touched but didn't break the main trendline posted yesterday (and at just about the right time). so I'm going to move the trendline out to the next level or two up. That puts it around the 64 day filter on the dailies, which has done a great job of containing $CAD movement (current trend level is 1.0975, more in-line with the usual SL values that have worked with this pair in the past of around 150p)

Melbourne Qindex 11:32 GMT May 23, 2007 Reply   
Melbourne Qindex 00:57 GMT May 23, 2007
USD/JPY (Weekly Cycle) : As shown in my weekly cycle charts the market has a tendency to trade between 120.51 - 121.83. The odds are in favor of maintaining a short position when the market is trading below 120.67. The center of the daily cycle is located at [121.37] and the lower barrier is expected at 120.46 // 120.64.


Daily Cycle : ... 119.91 - 120.16* - 120.28 - 120.46 // 120.64* - 120.82 - 120.88 - 121.01 - 121.13* - 121.19 - [121.37] - 121.55 - 121.61* - 121.73 - 121.86 - 121.92 - 122.10* // 122.28 - 122.46 - 122.58* - 122.83 ...



Melbourne Qindex 00:51 GMT May 23, 2007
USD/CAD (Weekly Cycle) : The critical level of my weekly cycle charts is located at 1.0812* - [1.0856]. The odds are in favor of maintaining a short position when the market is trading below 1.0812. The short term targeting points are 1.0634 and 1.0723. The center of the daily cycle projected series is [1.0854]. Speculative selling pressure will increase when the market is able to penetrate through the lower barrier at 1.0782 // 1.0796. The market is under pressure when it is trading below [1.0854].


Daily Cycle : ... 1.0739 - 1.0758* - 1.0768 - 1.0782 // 1.0796* - 1.0811 - 1.0816 - 1.0825 - 1.0835* - 1.0840 - [1.0854] - 1.0868 - 1.0873* - 1.0883 - 1.0892 - 1.0897 - 1.0912* // 1.0926 - 1.0940 - 1.0950* - 1.0969 ...


Melbourne Qindex 00:42 GMT May 23, 2007
AUD/USD (Weekly Cycle): The critical level of my weekly cycle is located at [0.8201] - 0.8238. The market is positive when it is able to trade above 0.8238. The center of the daily cycle is positioning at [0.8190] and the lower barrier is expected at 0.8126 // 0.8139. the market is under pressure when it is trading below [0.8190].


Daily Cycle : ... 0.8087 - 0.8104* - 0.8113 - 0.8126 // 0.8139* - 0.8151 - 0.8156 - 0.8164 - 0.8173* - 0.8177 - [0.8190] - 0.8203 - 0.8207* - 0.8216 - 0.8224 - 0.8229 - 0.8242* // 0.8254 - 0.8267 - 0.8276* - 0.8293 ...


Melbourne Qindex 00:35 GMT May 23, 2007
GBP/USD (Weekly Cycle): As shown in my weekly cycle charts the market is negative when it is trading below 1.9662. The center of the daily cycle projected series is located at [1.9773]. It is likely that the market will challenge the lower barrier at 1.9648 // 1.9673. The center of the daily cycle is located at [1.9701]. Speculative selling pressure will increase when the market is trading below the daily cycle lower limit at 1.9611 // 1.9629.


Daily Cycle : ... 1.9557 - 1.9581* - 1.9593 - 1.9611 // 1.9629* - 1.9647 - 1.9653 - 1.9665 - 1.9677* - 1.9683 - [1.9701] - 1.9719 - 1.9725* - 1.9737 - 1.9750 - 1.9756 - 1.9774* // 1.9792 - 1.9810 - 1.9822* - 1.9846 ...


Melbourne Qindex 00:28 GMT May 23, 2007
USD/CHF (Weekly Cycle) : As shown in the weekly cycle chart, the frequency numbers of 1.2274 and 1.2379 are more or less the same. This would indicate that the market can easily move ahead towards 1.2379. A barrier is located at [1.2326] which is the center of the weekly cycle projected series. The center of the daily cycle is located at [1.2270]. Speculative buying interest will increase when the market is able to trade above the daily cycle normal upper limit at 1.2354


Daily Cycle : ... 1.2186 - 1.2200* - 1.2207 - 1.2217 // 1.2228* - 1.2238 - 1.2242 - 1.2249 - 1.2256* - 1.2259 - [1.2270] - 1.2280 - 1.2284* - 1.2291 - 1.2298 - 1.2301 - 1.2312* // 1.2322 - 1.2333 - 1.2340* - 1.2354 ...

Melbourne Qindex 00:22 GMT May 23, 2007
EUR/USD (Weekly Cycle) : As shown in the weekly cycle charts the market was able to consolidate between 1.3444 - 1.3551. The market is under pressure when it is trading below [1.3498] which is the center of the weekly cycle. The center of the daily cycle is positioning at [1.3433] and the lower barrier is located at 1.3382 // 1.3392. Speculative selling pressure will increase when the market is trading below [1.3433].


Daily Cycle : ... 1.3351 - 1.3364* - 1.3371 - 1.3382 // 1.3392* - 1.3406 - 1.3412 - 1.3419* - [1.3433] - 1.3447* - 1.3454 - 1.3461 - 1.3474* // 1.3485 - 1.3495 - 1.3502* - 1.3515 ...

Auckland peat 11:27 GMT May 23, 2007 Reply   
have I accidentally stumbled into the politics forum - remember forex guys , its not about the end of the world or whether capitalism will eat itself its about scoring pips.

my long eur/us got dusted -40 (but needlessly so had I been 10 pips stronger grrr)
my long aud/jpy currently +26.

London NYAM 10:58 GMT May 23, 2007 Reply   
USDGBP resistance at
1.9856 (38.2% from 18 Apr h to 21 May l)and;
1.9870/75 (T/L resistance from May 1 to May 9 highs)
Phi extensions:
1.9853 (internal plummer target 2.618)
1.9824 (regular 1.618 extension of this A or W1 move up)

EU theEUROqueen 10:35 GMT May 23, 2007 Reply   
Happy day to u too Bob!

u must thanks our friends from china for that but dont worry i think she as (nymphomaniac) cant hold for a very long time..this week and maybe the next week i think are the last happy weeks for the USD..in case no so the laidy must hold for a very very long term ..happy trade

Mtl JP 10:28 GMT May 23, 2007 Reply   
fxq 10:17 / the physical but off-budget dollar appropriations have to come from somewhere: the tooth fairy ?

RIC fxq 10:17 GMT May 23, 2007 Reply   
hey folks, let remember this is a forex forum, the political forum is thataway >>>>>

madrid mm 10:16 GMT May 23, 2007 Reply   
Her Majesty is alive and kicking 8-)

The name's GBP . "James" GBP. lol Might be the Andrei Lugovoy effect ?!?!

Como Perrie 10:15 GMT May 23, 2007 Reply   
Mtl JP 10:05 GMT May 23, 2007

Well tend to think to a more complex. Next year's US elections all asking from reps to demos, as has become all the same under the more recent choice of geopolitical colonisation of key globe zone, at least a 100,000 more ground forces. Hence there's more to come to control with force as normal standards of the classic government are progressively deteriorating globe-wide.

If you look at expansions cycles in thisotry the book of Kennedy is very interesting, even neo-cons hisotrians and analytics are confirming the latter, even if as an political friendly statment. Hollywood beside is brainwashing with heros of various ages the population.

Do not know what will happen but all tentatives in history to control the whole world by one emperor have found some very bad surprises at the extremes...more or less as in markets, but you never know about the extreme.

Plus the Adam Smith modern adaptions of the industrial era are coming to an end. So as space-food-water-raw materials shortages increasing daily, as production costs rising forcing companies to drop more workers.

Unsolvable as Paulson said yesterday.

St. Annaland Bob 10:12 GMT May 23, 2007 Reply   
took 15pips off the USDJPY short and same set of short orders keeps on waiting

Mtl JP 10:05 GMT May 23, 2007 Reply   
Como Perrie 09:33 / It is not as if the government in control of the Chinese money supply is unfamiliar with near-instant massive monetary inflation: They can NOT have forgotten the lessons of inept and corrupt gov't 1937 - 1945 war with Japan "funding" (you will have to judge for yourself IF today the "inept and corrupt" have been purged). So amazingly inept and incompetent were their printers that they were flying in money printed in England !!

No nation at war in history has escaped the printing press devaluation of its fiat, and the USD is no exception:

Bush could double force by Christmas - SF Chronicle

..."The actions could boost the number of combat soldiers from 52,500 in early January to as many as 98,000 by the end of this year if the Pentagon overlaps arriving and departing combat brigades." ... "It doesn't surprise me that they're not talking about it," said retired Army Maj. Gen. William Nash, a former U.S. commander of NATO troops in Bosnia, referring to the Bush administration. "I think they would be very happy not to have any more attention paid to this."

Do you think Chinese are calm observers ?

London NYAM 10:00 GMT May 23, 2007 Reply   
Not to break up the USA vs World party, but watch the USDJPY especially if you are EWer. I like that recent rejection. Seems mostly caused by pressure on the GBPJPY and EURJPY crosses.

Como Perrie 09:56 GMT May 23, 2007 Reply   
Here, There and Everywhere All Knowing 09:55 GMT May 23, 2007

Well there are fundamental reasons for that, as europe took a second role behind US with some restricted autonomy by the US foreign policy of enlargement into the globe. You know the roman emperor syndromme you suffer guys

Here, There and Everywhere All Knowing 09:55 GMT May 23, 2007 Reply   
It must be great to live in the EU where there is nothing to criticize and find flawed and instead bash the US at every opportunity for all the percieved ills of the world

Como Perrie 09:49 GMT May 23, 2007 Reply   
london 09:38 GMT May 23, 2007

The only thing I see is It will be much bigger than anyone in history. Several possibilities or many at once imo.

Also the story about housing is pretty stupidly sat down by gov offcials detachment of realty syndromme they suffer.

If housing has to always rise, the US shd import some hundred millions of immigrants to inhabitate all those houses. Or americans will be living in 3 houses per individual?

Sofia Kaprikorn 09:39 GMT May 23, 2007 Reply   
madrid mm 09:37 //
tnx man - appreciate it!!

london 09:38 GMT May 23, 2007 Reply   
One-hundred million sheeple, all piled into the "041(k)/IRA/Mutual Fund Bus" being driven by a very distracted Bus Driver Ben Bernanke, navigating a slippery slope on Mount Fiat, where it has been raining dollars for decades.

Riding shotgun is "Hammerin' Hank Paulson, who is also distracted by his cell phone conversation with the debt enablers, the Chinese.

Now, THERE'S an accident waiting to happen, if I've ever seen one..

madrid mm 09:37 GMT May 23, 2007 Reply   
Sofia Kaprikorn , there is an interesting article on options in the help forum if interested 8-)

Como Perrie 09:33 GMT May 23, 2007 Reply   
May 21 (Bloomberg) -- China faces growing pressure to increase the value of the yuan, and Henry Paulson has nothing to do with it.

The world's fastest-growing economy is so hot that the government is considering a currency revaluation prompted by uncontrollable money supply growth, inflation, a runaway stock market and ballooning foreign exchange reserves.

``This is a modest and methodical act and very much in keeping with China's own interest,'' said Charlene Barshefsky, the chief U.S. trade negotiator from 1997 to 2001 and now a senior international partner at the law firm WilmerHale in Washington. ``It needs greater control over its economy and it needs to do that now.''

HK Kevin 09:26 GMT May 23, 2007 Reply   
Shangahi guys, respect yourselves

London NYAM 08:53 GMT May 23, 2007 Reply   
On an aside. John Authors column in the FT normally couches his underlying bullish bias with a proviso here or there. For the first time that I can remember, he was out-right gloating about the train-wreck of short sellers in Equities. Just wonder if that doesnt tell you something. He actually used the word "shadenfreude."
BoE minutes not really saying anything we already knew. IMO.

Plovidv Gotin 08:52 GMT May 23, 2007 Reply   
1st sign of euro strength: if 1.3424 is broken and stay above.

Sofia Kaprikorn 08:47 GMT May 23, 2007 Reply   
btw anyone see EURUSD on Daily is breaking the 55 day MA

Sofia Kaprikorn 08:41 GMT May 23, 2007 Reply   
London NYAM 08:26 //
very good day!!
tnx for pointing this - will give it some time since I don't use Mom at present ...
last night caught some action in the E/Y with support from Tonbridge AL - tried short from 44 and 55 bu reversed at 63 as it was bouncing off the trendline and left it with stop at 49 and limit at 79 - woke up and it was going down from 82...
- - right now I start focusing more on Risk Mgmt as it is my weakest point...
tnx for your help too!

madrid mm 08:27 GMT May 23, 2007 Reply   
May 23 (Bloomberg) -- Mitsubishi UFJ Financial Group Inc., Japan's biggest bank, said full-year profit fell 26 percent, in line with analysts' estimates, as it increased provisions to deal with losses at affiliated consumer lenders.

London NYAM 08:26 GMT May 23, 2007 Reply   
Sofia Kaprikorn 08:09 GMT May 23, 2007//Hi Kap. Theres a natural trader in you I can see from your posts. Anyway look at the 10 period momentum on 4hour charts for the yen crosses on the moves up from around the 10th of May. Alongside this examine the behaviour of US equities (correlating well with USDJPY). This is the primary reason Im not runnig for the door on my shorts. GLGT

St. Annaland Bob 08:19 GMT May 23, 2007 Reply   
madrid mm 08:17 GMT May 23, 2007

why to laugh?! ... high stakes with very short time frames, market is the king!

madrid mm 08:17 GMT May 23, 2007 Reply   
LOL this YEn situation , so funny really. Everybody on the bandwagon... Japanese, Americains, Europeans, Chinese, Zimbabweans, monopoly players etc. probably all in by now !!!

Makes me wonder that isn t it in times of euphoria, ie stocks higher, low interet rates, higher commodities, etc that prudence should be applied !!!??!?!

PAR why would the Japanese hate their currency ?

St. Annaland Bob 08:17 GMT May 23, 2007 Reply   
happy day TheEuroQueen! ... as suggested, the nymphomaniac is about taking rest before she will take the yet unknown rest.

Sofia Kaprikorn 08:14 GMT May 23, 2007 Reply   
EURUSD is down channel and will touch the lower band around 1.3410-15...

Sofia Kaprikorn 08:12 GMT May 23, 2007 Reply   
EURJPY - 2 hour chart actually shows the price is testing the trendline support - I guess we have to wait for a consequent close and open lower ...

St. Annaland Bob 08:10 GMT May 23, 2007 Reply   
PAR 08:08 GMT May 23, 2007

what Japanese means it's never what he says

Sofia Kaprikorn 08:09 GMT May 23, 2007 Reply   
EURJPY is breaking the trend line support at 163.50/55

PAR 08:08 GMT May 23, 2007 Reply   
If the japanese hate their currency why would foreigners buy it . To make Kampo richer ?

Gen dk 08:04 GMT May 23, 2007 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

St. Annaland Bob 08:02 GMT May 23, 2007 Reply   
USDJPY: selling @ 121.85/90/95/00/05/10/15/20/25

Dublin Flip 07:58 GMT May 23, 2007 Reply   
PAR you're nothing if not consistent :)

It's a bit of chicken and egg question though.
Is Japan's currency weak because it's economy is or is it's economy weak because it's weak currency discourages foreign or even domestic investment in it's economy. That a government once having produced oceans of liquidity then labels it for foreign consumption only is either incredibly charitble or incompetent.

The Netherlands Purk 07:56 GMT May 23, 2007 Reply   
Loonie: well what it did not do yesterday it does today, going up. And it will do so whole day. Do not forget to take profit when it is at the end of the range.

Nothing to say about the bugger here except that it is drifting a bit not knowing who to follow.

e/u: as said 13402 is a price to watch.

madrid mm 07:56 GMT May 23, 2007 Reply   
PAR - 122 on its way ?!?!?! 8-)

madrid mm 07:51 GMT May 23, 2007 Reply   
And , 30 years + after Franco, there is still a big chunk of people that believes that in order to get richer, you only need to add the number "0" on the banknotes.... LOL.... I am sure this is not only true for Spain though 8-)

madrid mm 07:47 GMT May 23, 2007 Reply   
well.... not that new really 8-)

madrid mm 07:46 GMT May 23, 2007 Reply   
St. Annaland Bob 07:23 GMT May 23, 2007

it could be Bob, could be.....It is interesting to know how a little bit of accounting magic, ie cash and 5 or different books per company , can go a long way ..... Cash in Spanish is "metalico" !!And believe you me,cash is not only king in Spain it is a new God, a new religion 8-)

PAR 07:43 GMT May 23, 2007 Reply   
Japanese economy is weak and getting weaker .

PAR 07:37 GMT May 23, 2007 Reply   
SNB again barking but Swiss economy is too weak to sustain normal interest rates , so no biting .

St. Annaland Bob 07:23 GMT May 23, 2007 Reply   
madrid mm, Spain's GDP growing in slower phase than the deficit, is it national Spanish hobby to sell under cost?

madrid mm 06:28 GMT May 23, 2007 Reply   
Highlights

Richmond Fed Pres Jeffrey Lacker in CNBC interview says interest rate appropriate for now but need to rise later in year. Says inflation expectations have been between 2% and 2.5% for two years now - need to get back to containing them between one and two percent.

Fed Lacker says best contribution that Central Banks can make for growth is to keep inflation low and stable. Market does not see Fed tolerating inflation over 2.5%. Lacker says there "Few" more steps" we can take to manage inflation.

SNB Chair Jean-Pierre Roth in magazine interview released around European close yesterday, says recent drop in Swiss Franc not ideal, and that together with employment strength does pose some inflation threat.

PBoC sets USD/CNY mid rate at new fixing low of 7.6540 from 0.7647 close.

Senior US Bush Admininstration official says US and China had "direct exchange of views" on CNY and US is saying China still needed to allow CNY to appreciate more rapidly and are "continuing to push every way we can for faster appreciation.

US Labour Secretary Elaine Chao says US Treasury Sec Henry Paulson and Chinese Vice Premier Wu Yi had discussions on currency valuation till "late into the evening."

The CIA has received secret presidential approval to mount a covert "black" operation to destabilize the Iranian government, current and former officials in the intelligence community tell the Blotter on ABCNews.com.

RBNZ quarterly business survey of inflation shows 1 and 2 yeaer ahead average forecast unchanged at 2.7% and 2.6%, signalling RBNZ will pause Official Cash Rate at 7.75%.

Relatively busy session, as the day started with "the other" Swiss house out of Singapore, together with US investment house/ securities houses and brokerages buying good amount of USD/JPY from 121.55-60, and pushing it to fresh 3-half mth high 121.71.

The same Swiss name has been 'seen all over" buying good amount of USD/JPY, with talks >$500-1bln were bought. Some talks the same name is buying CHF/JPY as well, pushing the cross toward 99 handle, and targetting the May 4's almost 9 year high of 99.34, and helped by SNB Roth comments on vigilant over inflation/ low CHF, seen preparing for the Century Sprint to hit 100, last seen on Oct 6 1998 when it was at 100.01.

CHF/JPY could be supported as JPY is seen "taking over" more of the Carry trades burden from CHF.

USD/JPY finally took out the key 121.75 triggers as the same Swiss name, with big German, bought and hit stoploss/ triggers there to fresh 3-half mth high 121.78, more exporters offers/ options b4 122.00.

The same Swiss, which has been sighted and active whole morning, - could be hedge funds, real money, also said to be buying AUD, NZD possibly, real money/ AUD firmer on China buying, AUD/NZD bids. NZD seeing good 2-ways, as hedge funds, models sold, but supported by local, US inv, Swiss buying ahead of 0.7250 options.

EUR/JPY hit day highs 163.82. with focus on 164 triggers, as Cross/JPY supported by talks of >$2-3bln worth of Toushin, Japan overseas investment trust from today till June.

EUR, GBP, steady, some focus on new US covert action again Iran.

Nikkei +0.48% or 85.74pts at 17,765.79. JGBs under pressure, with 10-yr yields rising +0.050% at 1.685%.

Crude Oil +0.16 at $65.67.

Asian FX range: USD/JPY 121.53/121.78, EUR/USD 1.3447/1.3461, GBP/USD 1.9737/1.9753, USD/CHF 1.2285/1.2303, AUD/USD 0.8193/0.8218, NZD/USD 0.7258/0.7273.

Auckland peat 06:11 GMT May 23, 2007 Reply   
so I've bought a little Aud/Jpy long... perhaps a tad prematurely at 99.98 may add with more confirmation of a break.

Auckland peat 06:02 GMT May 23, 2007 Reply   
why what happened to Zeus? I havent been reading everything lately so did I miss something.

madrid mm 06:00 GMT May 23, 2007 Reply   
gm fx jedi,

“To succeed in life, you need two things: ignorance and confidence.”- Mark Twain

nyc nick 05:40 GMT May 23, 2007 Reply   
the forum is so quiet without old timers such as zeus

London NYAM 05:32 GMT May 23, 2007 Reply   
ldn jas 23:39 GMT May 22, 2007//
Re stop loss on GBPJPY//I dont like posting s/l for trades but this is sligtly different. Im eyeing the USDJPY rate to mark whether i am wrong on the short GBPJPY. If you look through my posts you will see my targets for that cross. If we exceed those targets i will look for a place to bail out on the short. Of course there is a risk that the GBP will go ballistic after todays minutes are released. That is the prob with the beast.
Someone mentioned that alot of posters seem to be short this pair or are looking for a top. Well i hope the GV community (if thats the case) see something that the carry traders have missed ;). Back to bed be back soon.

AZUSA 4x-ed 05:23 GMT May 23, 2007 Reply   
Tx peat! Makes sense... just asking because the distance from the bottom of the last pullback to the next resistant point (top of subsequent asc. tria.) is also ~80 points.

Auckland peat 05:13 GMT May 23, 2007 Reply   
the horizontal line at the top of the triangle is 100 (near enough) and the increasing troughs start from 99.2; 99.4 and 99.6 ,
the target is supposed to be the size of the vertical component of the triangle hence 100 - 99.2

AZUSA 4x-ed 05:05 GMT May 23, 2007 Reply   
Auckland peat 04:51 GMT May 23, 2007 || Your 80 pip measured approach is based on ???, if you don't mind me asking. TIA

Auckland peat 04:51 GMT May 23, 2007 Reply   
well I know we all wanna short the yen crosses, but I'm seein a ascending triangle on AUD/JPY - a breach of 100 (99.9 to be precise) should theoretically give a 80pip move UP!

Sydney ge11ja 04:42 GMT May 23, 2007 Reply   
it seems a lot of posters here are looking for a EUR/YEN/ USD/YEN top some time soon. Trouble is it is very difficult to position for this as there is a daily grind/ squeeze against you.
Some will say just wait for the turn and then jump on but we have had so many false starts of late how will you know this is the one?
One suggestion I have for this dilemna is to go long AUD/NZD. General agreement is that the yen turn will cause a huge bail out of NZD longs and when it does start you can sell just sell AUD/YEN to create a short NZD/YEN position. You will have plenty of time to do this as the cross will rally as the NZD/YEN gets whacked. I wouldnt expect the AUD/YEN to fall as much.
The AUD/NZD cross has been very stable to bid of late and there isnt a major funding cost against you so it is not hard to run the position.

Just a thought for these very very quiet markets.

GL n GT

NY RP 04:24 GMT May 23, 2007 Reply   
EUR/JPY is being capped by 163.90's from previous high. Not sure what it is going to take to turn this pair around. Looking back at the chart we are in a strong trend. All good things must come to an end but the magical question is when. Better to wait this one out as risk/reward doesnt appear to be present. Gold is chopping around and has support in teh 650 area where it is finding some support which appears to be the same physical crowd that is accumulating on dips. My target is still 750 then 888, but not until this chop is finished. Everyday we are chopping is a day closer to a move higher. My analysis is certainly bullish, but not a day trader. Prefer to buy on dips and sell on rallies. GL

BAHRAIN Bahrain1 04:24 GMT May 23, 2007 Reply   
Buying put on GBPYEN think better than selling the cash, but vols are very expensive. GL

BAHRAIN Bahrain1 04:19 GMT May 23, 2007 Reply   
Hi Frnds......
Good day to you all.....new day......wish you all the best of luck.


London NYAM 20:19 GMT May 22, 2007

Yes the BOE minutes will be the focus for today, good luck to you and many thanks for your support. Good day.

Macau Sofia 04:17 GMT May 23, 2007 Reply   
NY RP--what is your upside target for gold in next month? thank you

Prague viktor 03:59 GMT May 23, 2007 Reply   
NY RP G/M

Do u still E/U long ?G/L G/T

Syd 03:29 GMT May 23, 2007 Reply   
Precious Metals Sentiment "Sinking Fast" - Kitco
Precious metals sentiment "sinking fast", with gold's medium-term technicals pointing towards breach of supports at $652/oz, $630 and even possibly revisiting start of 2007 level near $605, says Kitco's Jon Nadler. Adds long-term momentum indicators "barely in the positive zone". Notes stronger USD, weaker crude pressured gold overnight, while Indian monsoon season depressing bullion sales there. Spot gold last at $658.10/oz, down 70 cents on NY close after falling $3.80 in NY

hk ab 01:59 GMT May 23, 2007 Reply   
Will Alcoa's deal affect the dlr/cad persepct?

USA BAY 01:29 GMT May 23, 2007 Reply   
DR Q,

If that is the case then we can expect a rally in oil too? Thanks

london pw 01:03 GMT May 23, 2007 Reply   
NY RP 00:47 GMT May 23, 2007
maybe so ....but I see a rise until 122.19 and then a short to at least 120 area possibly even 119.50...we shall see....

Melbourne Qindex 01:02 GMT May 23, 2007 Reply   
USA BAY 00:58 GMT - USD/USD : The bias is on the downside. I guess is the storm is coming from Canada and it will drive all the Canadian Crosses crazy.

USA BAY 00:58 GMT May 23, 2007 Reply   
DR Q,

What is your bias on usd/cad and if time permits could you elaborate on the storm you mentioned earlier. Thanks so much

Melbourne Qindex 00:57 GMT May 23, 2007 Reply   
USD/JPY (Weekly Cycle) : As shown in my weekly cycle charts the market has a tendency to trade between 120.51 - 121.83. The odds are in favor of maintaining a short position when the market is trading below 120.67. The center of the daily cycle is located at [121.37] and the lower barrier is expected at 120.46 // 120.64.


Daily Cycle : ... 119.91 - 120.16* - 120.28 - 120.46 // 120.64* - 120.82 - 120.88 - 121.01 - 121.13* - 121.19 - [121.37] - 121.55 - 121.61* - 121.73 - 121.86 - 121.92 - 122.10* // 122.28 - 122.46 - 122.58* - 122.83 ...

Melbourne Qindex 00:56 GMT May 23, 2007 Reply   
USD/JPY (Weekly Cycle)

Daily Cycle : ... 119.91 - 120.16* - 120.28 - 120.46 // 120.64* - 120.82 - 120.88 - 121.01 - 121.13* - 121.19 - [121.37] - 121.55 - 121.61* - 121.73 - 121.86 - 121.92 - 122.10* // 122.28 - 122.46 - 122.58* - 122.83 ...

Melbourne Qindex 00:51 GMT May 23, 2007 Reply   
USD/CAD (Weekly Cycle) : The critical level of my weekly cycle charts is located at 1.0812* - [1.0856]. The odds are in favor of maintaining a short position when the market is trading below 1.0812. The short term targeting points are 1.0634 and 1.0723. The center of the daily cycle projected series is [1.0854]. Speculative selling pressure will increase when the market is able to penetrate through the lower barrier at 1.0782 // 1.0796. The market is under pressure when it is trading below [1.0854].


Daily Cycle : ... 1.0739 - 1.0758* - 1.0768 - 1.0782 // 1.0796* - 1.0811 - 1.0816 - 1.0825 - 1.0835* - 1.0840 - [1.0854] - 1.0868 - 1.0873* - 1.0883 - 1.0892 - 1.0897 - 1.0912* // 1.0926 - 1.0940 - 1.0950* - 1.0969 ...

NY RP 00:47 GMT May 23, 2007 Reply   
london pw 00:43 GMT May 23, 2007
Maybe your chart is upside down? LOL Good luck.

london pw 00:43 GMT May 23, 2007 Reply   
Can anybody see usd/jpy short for a couple of hundred pips or is my chart deceiving me?

Melbourne Qindex 00:42 GMT May 23, 2007 Reply   
AUD/USD (Weekly Cycle): The critical level of my weekly cycle is located at [0.8201] - 0.8238. The market is positive when it is able to trade above 0.8238. The center of the daily cycle is positioning at [0.8190] and the lower barrier is expected at 0.8126 // 0.8139. the market is under pressure when it is trading below [0.8190].


Daily Cycle : ... 0.8087 - 0.8104* - 0.8113 - 0.8126 // 0.8139* - 0.8151 - 0.8156 - 0.8164 - 0.8173* - 0.8177 - [0.8190] - 0.8203 - 0.8207* - 0.8216 - 0.8224 - 0.8229 - 0.8242* // 0.8254 - 0.8267 - 0.8276* - 0.8293 ...

Melbourne Qindex 00:35 GMT May 23, 2007 Reply   
GBP/USD (Weekly Cycle): As shown in my weekly cycle charts the market is negative when it is trading below 1.9662. The center of the daily cycle projected series is located at [1.9773]. It is likely that the market will challenge the lower barrier at 1.9648 // 1.9673. The center of the daily cycle is located at [1.9701]. Speculative selling pressure will increase when the market is trading below the daily cycle lower limit at 1.9611 // 1.9629.


Daily Cycle : ... 1.9557 - 1.9581* - 1.9593 - 1.9611 // 1.9629* - 1.9647 - 1.9653 - 1.9665 - 1.9677* - 1.9683 - [1.9701] - 1.9719 - 1.9725* - 1.9737 - 1.9750 - 1.9756 - 1.9774* // 1.9792 - 1.9810 - 1.9822* - 1.9846 ...

Melbourne Qindex 00:28 GMT May 23, 2007 Reply   
USD/CHF (Weekly Cycle) : As shown in the weekly cycle chart, the frequency numbers of 1.2274 and 1.2379 are more or less the same. This would indicate that the market can easily move ahead towards 1.2379. A barrier is located at [1.2326] which is the center of the weekly cycle projected series. The center of the daily cycle is located at [1.2270]. Speculative buying interest will increase when the market is able to trade above the daily cycle normal upper limit at 1.2354


Daily Cycle : ... 1.2186 - 1.2200* - 1.2207 - 1.2217 // 1.2228* - 1.2238 - 1.2242 - 1.2249 - 1.2256* - 1.2259 - [1.2270] - 1.2280 - 1.2284* - 1.2291 - 1.2298 - 1.2301 - 1.2312* // 1.2322 - 1.2333 - 1.2340* - 1.2354 ...

Melbourne Qindex 00:22 GMT May 23, 2007 Reply   
EUR/USD (Weekly Cycle) : As shown in the weekly cycle charts the market was able to consolidate between 1.3444 - 1.3551. The market is under pressure when it is trading below [1.3498] which is the center of the weekly cycle. The center of the daily cycle is positioning at [1.3433] and the lower barrier is located at 1.3382 // 1.3392. Speculative selling pressure will increase when the market is trading below [1.3433].


Daily Cycle : ... 1.3351 - 1.3364* - 1.3371 - 1.3382 // 1.3392* - 1.3406 - 1.3412 - 1.3419* - [1.3433] - 1.3447* - 1.3454 - 1.3461 - 1.3474* // 1.3485 - 1.3495 - 1.3502* - 1.3515 ...

NY RP 00:16 GMT May 23, 2007 Reply   
Aud/JPY top then Eur/JPY and now maybe GBP/JPY.
It is too soon to say. Tops and bottoms are almost impossible to trade. Strictly an observation. We will soon see.

Halifax CB 00:11 GMT May 23, 2007 Reply   
FWIW, to me it looks like eurjpy is in the process of setting up for a good short, especially if it has trouble at 163.90.

 




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