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Forex Forum Archive for 01/08/2009

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tokyo ginko 23:41 GMT January 8, 2009
Long USD/JPY
Reply   
Buy USD/JPY
Entry: 91.30 Target: open Stop: open

GT all.

jkt-aye 23:37 GMT January 8, 2009
Trade Ideas

Sell gbpusd
Entry: 1.5223 Target: 1.5133 Stop: 1.5273

target and stop are tentative. actually i'm trying to SAR this trade. gtgl

SG Awesome Trader 23:20 GMT January 8, 2009
EUR & GBP
Reply   
Buy
Entry: EUR/GBP Target: Stop:

Euro Likely to Rally vs US Dollar on Clear Shift in Forex Sentiment
http://www.dailyfx.com/story/strategy_pieces/ censored_speculative_sentiment_index/Euro_Likely_to_Rally_vs_1231
429349106.html

British Pound Crosses: Short Term Weakness Expected
http://www.dailyfx.com/story/currency_crosses/ currency_crosses/ British_Pound_Crosses__Short_Term_1231446386894.html

Lahore FM 22:51 GMT January 8, 2009
Trade Ideas

Maribor 1.4890 seems like a reasonable return level if gbp buyers don't get too enthusiastic.

Lahore FM 22:49 GMT January 8, 2009
Trade Ideas

gbpnzd 2.5602 now.just had a look at a monthly chart for the pair.it seems the long can be trade of the year!

if 2.5100 holds,3.0000 is possible.

lkwd jj 22:44 GMT January 8, 2009
Trade Ideas

your buy at 1.45 area was great. where does she go from here?

Maribor 22:44 GMT January 8, 2009
Trade Ideas

My guess GBPUSD has to reach 1,489 turn level...also good R/R in my analysis to sell GBPCHF now(1,665) for ~1,626.

Lahore FM 22:37 GMT January 8, 2009
Trade Ideas

conflicting techs for gbp in different pairs but then we are having a good 200 pip range even on eurgbp these days.let us see.

Lahore FM 22:28 GMT January 8, 2009
Trade Ideas

long gbpjpy order working at 135.20.

lkwd jj 22:23 GMT January 8, 2009
Trade Ideas

at least your honest... i'm getting a sell in cable vs usd thats why i asked. as far as euro it does have room to keep going up. 150 ma is at 1.42+.

Munich Peter 22:20 GMT January 8, 2009
Trade Ideas

Thanks FM for swift reply. GL GT

Lahore FM 22:14 GMT January 8, 2009
Trade Ideas

Peter,up is what i think.like my friend on gvi pro side Frank,i am looking for 200 dma retest at 1.4370.

Munich Peter 22:12 GMT January 8, 2009
Trade Ideas

FM, what's your take on eurusd? TIA

Lahore FM 22:09 GMT January 8, 2009
Trade Ideas

very difficult question JJ.i gues we might see cable ease off some a comparatively better performing eurusd.

went long gbpnzd 2.5555.looking for 2.6500.

lkwd jj 22:05 GMT January 8, 2009
Trade Ideas

FM do you think it will come from euro strength vs gbp and usd or cable weakness vs euro and usd, or should i leave usd out of the equation?

Lahore FM 21:59 GMT January 8, 2009
Trade Ideas

Buy eurgbp
Entry: 0.9003 Target: 0.9400 Stop: later

went long a fourth time this week at 0.9003 this time.looking for aull scale return to the earlier trend on dailies to the upside.

Lahore FM 21:00 GMT January 8, 2009
Trade Ideas

long eurcad 1.6183.stops later.

GVI Forex john 20:55 GMT January 8, 2009
GVI Forex Analysis

Click for Complete Chart Points

8-Jan-09

EURUSD

USDJPY

USDCHF

GBPUSD

USDCAD

Close

1.3726

91.41

1.0936

1.5235

1.1815

High

1.3799

92.91

1.1082

1.5372

1.2073

Low

1.3535

90.85

1.0867

1.4985

1.1813

Simple mva

EUR/USD

USD/JPY

USD/CHF

GBP/USD

USD/CAD

5 day

1.3667

92.69

1.0829

1.4621

1.1923

10 day

1.3838

91.67

1.0690

1.4558

1.2058

20 day

1.3898

90.76

1.0820

1.4708

1.2111

50 day

1.3223

93.73

1.1437

1.4906

1.2228

100 day

1.3595

99.00

1.1279

1.6195

1.1656

200 day

1.4582

102.39

1.0795

1.7883

1.0917

Mtl JP 20:47 GMT January 8, 2009
Deficts

This is really a note for Ben, who, at his last public viewpoint on the topic that I know of, said that he was not aware of any reason why the Chinese would be selling US paper:

http://www.nytimes.com/2009/01/08/business/worldbusiness/08yuan.html?_r=1&ref=todayspaper

China Losing Taste for Debt From U.S. - NYT

Published: January 7, 2009
HONG KONG — China has bought more than $1 trillion of American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home, a move that could have painful effects for American borrowers. ....

Syd 20:36 GMT January 8, 2009
Australian Economy in Trouble
Reply   
In Australia, approvals to buy new homes saw their biggest drop in 6 years in November. Simon Wong from Standard Chartered Bank considers the outlook for the Australian economy.LINK

Belarus 20% devaluation of currency may see emerging markets come under pressure

Lahore FM 18:57 GMT January 8, 2009
Trade Ideas

You are welcome Leonberg!
btw it is FM and not Lahore!

Leonberg 18:42 GMT January 8, 2009
Trade Ideas

thank you for explanation Lahore. I know that nobody is perfect. I traded stocks for 5 years and i changed to FX round 7 Months ago, so i have a lot to learn. I asked you just because of my eager for knowledge. I'm interested in knowing what other traders see and how they act and react to build up my knowledge.

dc CB 18:17 GMT January 8, 2009
Comeback fun
Reply   
Interactive graphic from the NYTimes helps to determine how long it's gonna take for your IRA/401K to comeback.
NYT

PAR 18:05 GMT January 8, 2009
Deficts
Reply   
Sooner or later someone has to pay the bill... with interest,
with interest which compounds as a big snowball as deficits keeps growing..


"Sooner or later the world is going to run a credit check on Uncle Sam and say, "Sorry, you don't qualify."
Something like that just happened in Europe, where a sale of 10-year bonds failed, leaving the state bank stuck with a big chunk of the offering. It wasn't in deeply troubled Greece, or eternally problematic Italy. It was in Germany, the heartland of the European economy.
For now, it's incredibly convenient for people in Washington to believe that unbridled spending is good for the economy. It's certainly good for politicians.
But taking the position that the prior administration got everything wrong, and the new one will get everything right is deeply problematic, especially when the "solution" being offered is exactly the same.
- Tom Bemis, assistant managing editor "

Hawaii a. loha 17:51 GMT January 8, 2009
Obama


the chest, Obama's chest is what MTL JP running after :)

St. Pete islander 17:10 GMT January 8, 2009
Obama

JP, I wish you would tell us what you really think of Obama! LOL

PAR 16:52 GMT January 8, 2009
Obama
Reply   
Deficits - Deficits - Check is in the mail - Credit - Credit

Did not mention the word Saving.

Mtl JP 16:50 GMT January 8, 2009
Obama

NYC 16:17... just remember WHO this dude is.... a socio-comminist, wealth-redistributing, ex-community activist lawyer.. and ask yourself: whose economic stuff is he spouting for your pablum dose

NYC ET 16:50 GMT January 8, 2009
Obama

No reaction in stocks so fx trading in its own world. Market on hold now awaiting jobs report tomorrow.

LA LA 16:44 GMT January 8, 2009
Obama

Did Obama say anything? USD rallying

NYC 16:17 GMT January 8, 2009
Obama
Reply   
Speaking on the economy now....

GVI Forex john 15:16 GMT January 8, 2009
GVI Forex Analysis



Canada Ivey PMI

Lahore FM 14:59 GMT January 8, 2009
Trade Ideas

a bounce higher is more likely for usdcad off ivey data shortly imho!

Graz 14:58 GMT January 8, 2009
EUR/USD trade


that's the time ensure the trade will be a loser in any case. good day further.

Hong Kong Qindex 14:56 GMT January 8, 2009
QIndex Trading System

Sell GBP/USD
Entry: 1.5235 Target: 1.5137 Stop: 1.5270

Short Term

Hong Kong Qindex 14:55 GMT January 8, 2009
QIndex Trading System

Sell GBP/USD
Entry: Target: Stop:

GBP/USD : The market is going to retrace all the way back to 1.5052.

Lahore FM 14:47 GMT January 8, 2009
Trade Ideas

eurchf and eurjpy might be headed for targets mentioned in my posts earlier.

Hong Kong Qindex 14:41 GMT January 8, 2009
QIndex Trading System

Sell CHF/JPY
Entry: 83.58 Target: 80.00 Stop: 85.00

CHF/JPY : A projected resistant range has been established at 86.04 - 86.46. If the downward trending momentum is strong enough to penetrate through 79.95, the market has good potential to head for the lower range at 77.86 - 78.58. As shown in the monthly cycle charts the market is under pressure when it is trading below 83.60.

Hong Kong Qindex 14:25 GMT January 8, 2009
QIndex Trading System

Sell
Entry: 125.48 Target: 123.15 Stop: 126.60

EUR/JPY : The market is under pressure when it is below 125.71. Other significant levels are located at 125.71 - 126.30 - 126.45 - 127.19. The odds are in favor of taking a short position and targeting the lower range at 122.03 - 123.15.

Chicago SC 14:19 GMT January 8, 2009
GBD spike

yv- this current price volatility is something we just have to live with. Ive been more cautious with my trades recently and have cut back on my leverage.

Graz 14:17 GMT January 8, 2009
EUR/USD trade
Reply   
Sell EUR/USD
Entry: 13788 Target: 10x Stop Stop: 13838

Hong Kong Qindex 14:17 GMT January 8, 2009
QIndex Trading System

Sell
Entry: 139.90 Target: 131.91 Stop: 141.70

GBP/JPY : The market is basically vibrating around 139.48 with an expected magnitude of 137.51 - 141.46. The magnitude will be expanded further into 135.54 - 143.43. I am bias on the downside. As shown in the monthly cycle charts the market has a tendency to trade beteen 123.02 - 144.34 (i.e. between two levels marked with yellow colour).

USA yv 14:10 GMT January 8, 2009
GBD spike

So...you are suggesting 100bp was already baked and the reverse move was trade response - fundamentals were in the background, yes? All makes sense except the extreme volatility.

London HC 14:05 GMT January 8, 2009
GBD spike

YV. You are the second person on this forum to ask that question. This should answer your question as it suggest market was short. Other explanations:

- GBP has been in demand all week
- 50bp was fully discounted and at the low end of expectations (some expected as much as 100bp)
- Lack of selling after the rate cut sent a signal to buy gbp/usd and sell eur/gbp for stop hunters

Hope that helps

Malaga boqueron 14:05 GMT January 8, 2009
GBD spike

Do not search for a rational explanation. It doesn't exist, otherwise we could all become zillionaires in no time by applying logic. What works today will not necessarily work tomorrow - that's the beauty.

Amsterdam Purk 14:04 GMT January 8, 2009
GBD spike

Up?

Tonbridge AL 14:01 GMT January 8, 2009
GBD spike

there was an anticipation of a full point cut in rates so 50 meant that those who had already set up shorts in anticpation of the spec selling found they had to cover. If it does not go down then it must do what?

USA YV 13:53 GMT January 8, 2009
GBD spike
Reply   
I am confused by the spike in GBD...especially against USD and EUR after the BoE rate cut. I would have expected the reverse move. Please explain.TIA

Hong Kong Qindex 13:51 GMT January 8, 2009
QIndex Trading System

Sell USD/JPY
Entry: 91.12 Target: 90.10 Stop: 91.70

USD/JPY : A projected resistant level has been established at 94.84 - 94.90. It is likely that we have seen the monthly high already. In the mean time the market may consolidate between 90.08 - 91.21. The best entry levels are those significant levels at 91.21 and 91.52. As shown in the monthly cycle charts the market has good potential to go to 87.32 for position trading.

GVI Forex john 13:49 GMT January 8, 2009
GVI Forex Analysis

Weekly jobless claims...

Refresh to update chart...


Click on chart for six-year history

HK Kevin 13:48 GMT January 8, 2009
Trading Ideas

Sorry, my previous should read "long USD/JPY near 9100. 50 pips stop.
Just long at 91.03 and closed the long EUR/CHF at 1.4978.
Cable next resistance at 1.5350 may cap today, but tomorrow is another day.

HK Kevin 13:26 GMT January 8, 2009
Trading Ideas
Reply   
Today is a market to apply technical analsis skills. After closing my 2nd short GBP position at 1.5042 this Asian morning, now only hold long EUR/CHF from 1.5148.
Technically speaking, Cable is a sell at 1.5250, stop 1.5310. But this wild animal can spike higher to take our stops.
Another pair closely monitored is long USD/JPY near 9200. 50 pips stop.

GVI Forex john 13:20 GMT January 8, 2009
GVI Forex Analysis
Reply   

Click for Complete Chart Points

7-Jan-09

EURUSD

USDJPY

USDCHF

GBPUSD

USDCAD

Close

1.3628

92.68

1.1010

1.5110

1.1967

High

1.3747

94.12

1.1200

1.5281

1.1999

Low

1.3430

92.45

1.0870

1.4806

1.1777

Simple mva

EUR/USD

USD/JPY

USD/CHF

GBP/USD

USD/CAD

5 day

1.3713

92.57

1.0792

1.4541

1.1994

10 day

1.3867

91.57

1.0676

1.4524

1.2093

20 day

1.3878

90.77

1.0866

1.4698

1.2138

50 day

1.3207

93.85

1.1444

1.4930

1.2234

100 day

1.3605

99.18

1.1279

1.6231

1.1644

200 day

1.4592

102.45

1.0792

1.7906

1.0909

madrid 13:00 GMT January 8, 2009
----breaking news----
Reply   

The Bank of England cut the benchmark interest rate to the lowest since the central bank was founded in 1694 . (time flies huh ?!?!)

The chief of the BoE, good ol' Mervyn King is feeling happy. After reducing the rate to record low , he knows that he won t have to write a letter to the Chancellor regarding the inflation rate.

Free Earl Grey Tea with scones with marmelade and cream all around the BoE today.

To be confirmed.

8-)

is it the end of the day yet ?

may the force be with you all

nj jf 12:52 GMT January 8, 2009
Holiday
Reply   
Amman wfakhoury 09:44 GMT January 8, 2009

why dont you take a holiday and leave FM alone - no-one on this forum puts as much effort into posting trades than he does. we all know how good you are at +20 points and -200 so give the rest of us a break.

Lahore FM 12:46 GMT January 8, 2009
Trade Ideas

01/07/2009 20:52:01 FM Lahore 15
long usdjpy 92.52,stops 91.50.
--
stopped for minus 102.

long small re entered 91.33,stops at a later time.

Amsterdam Purk 12:29 GMT January 8, 2009
euro versus gbp
Reply   
Range now 169, so that 8868 might be a good chance to long. wait for the overshoot. All belongings will be closed there, enough is enough.. After that focus on aud/usd. potential great.

Lahore FM 12:18 GMT January 8, 2009
Trade Ideas

Andras techs were positioned for it to trend up back then,you are right.the news is mere mover and shaker.currently even a nascent correction did not go through despite the cut,for eurgbp downtrend seems still strong enough not to be broken.

Amsterdam Purk 12:18 GMT January 8, 2009
Trade Ideas

Only 50 pips to go to 8868...

Pecs Andras 12:15 GMT January 8, 2009
Trade Ideas

Last time BoE cut EUR/GBP surged through 0.9 and then up to 98 within a short time

Lahore FM 12:13 GMT January 8, 2009
Trade Ideas

Pecs,rate cuts mostly help currencies in short and long term.my long eurgbp was not based on rate cut by boe.

Lahore FM 12:10 GMT January 8, 2009
GBP

0.9000 long eurgbp stopped for minus 60.

Pecs Andras 12:09 GMT January 8, 2009
cable
Reply   
What kind of a market is this?
pound surges +100 pips after a rate cut and prospects for much more...?

Lahore FM 12:04 GMT January 8, 2009
Hi Lahore..

ML,continuation above 1.5100 and dowside so far limited to 1.4890/1.4900 is what i see for now.

Lahore FM 11:56 GMT January 8, 2009
Trade Ideas

long euruad order in place at 1.9025.will see about stops once filled.

Lahore FM 11:50 GMT January 8, 2009
Trade Ideas

Leonberg,here is the small print in large.i have no claim to perfection.i regularly make mistakes.you will find scores of trades where i took a good beating within this thread.

in addition for the same small print,i at times mention no stops in trades or stops at a later time.this mostly means i am closley monitioring the trade and wil either close ou t or post an update to the mentioned trade.

i personally and most strongly advise not to follow the "later stop" if you take up any trade idea but always put a stop which is of a resonable size according to your personal risk tolerance.

Lahore FM 11:41 GMT January 8, 2009
Trade Ideas

long march s&p 500 904 now enetred in addition to half from 889.00.

stops for 2nd log at 878.00.target around 930 and higher.

Lahore FM 11:28 GMT January 8, 2009
Trade Ideas

the inspiration is my personal tech view.i have been following the trade since 1,4890 and had closed half at 1.5020.i added a second just under 1.5000.it is possible that there are fresh carry trades put on soon and jpy and chf get sold for a larger round which might see eurchf to 1.5300 and higher.my multihourlies show a large base from 1.4800 to 1.4950.

Leonberg 11:05 GMT January 8, 2009
Trade Ideas

Hi Lahore,

could i ask you pls. to explain your inspiration regarding EUR/CHF?
Because all indicators are showing a strong down.

Amsterdam Purk 10:27 GMT January 8, 2009
euraud reply

Yes silly you!

Syd 10:11 GMT January 8, 2009
Euro
Reply   
Euro-Zone Consumer Confidence Weakest Since Series Began
Euro-Zone Business Climate Weakest Since Series Began In 1985
Euro-Zone Econ Sentiment Lowest Since Series Began In 1985
Euro-Zone Dec Economic Sentiment 67.1; Nov 74.9
Euro-Zone Dec Services Confidence -17; Nov -12
Euro-Zone Dec Industrial Confidence Consensus -30
Euro-Zone Dec Industrial Confidence -33; Nov -25
Euro-Zone Dec Consumer Confidence Consensus -26
Euro-Zone Dec Consumer Confidence -30; Nov -25
Euro-Zone 3Q GDP Forecast -0.2% On Qtr; +0.6% On Yr
Euro-Zone 3Q GDP -0.2% QQ; +0.6% YY
Euro-Zone 3Q GDP Contraction Confirms Recession
Euro-Zone Jobless Rate Rose To 7.8% In Nov

Lahore ML 10:01 GMT January 8, 2009
Hi Lahore..
Reply   
GBP
Entry: Target: Stop:

Hi Lahore...

So you think Pound/$ goes back to 1.48 soon ??

Best regards.

Lahore FM 09:59 GMT January 8, 2009
euraud reply

yes silly is fine with me!there is mention of re entry at lower prices which means that view has room for a better entry than was before.the trade idea has not run itself through.

Amman wfakhoury 09:44 GMT January 8, 2009
euraud reply
Reply   
Lahore FM 09:31 GMT January 8, 2009
Trade Ideas: Reply
01/05/2009 16:19:18 FM Lahore 49
closed all of euruad long at 1.9349 for once for small gains.wiill reload if lower
-------
you kept postion 19406 open till 18609 and you closed it
at 19349.
what a silly trade ideas ?

Lahore FM 09:44 GMT January 8, 2009
GBP

Pecs,my view is that we can have eurgbp rise some off the news.this is based on technicals of the pair.i think that the technical view will have a chance to play itself out.i entered long eurgbp at 0.9000 yesterday.now i have placed stops at 0.8940 for the long.i am lookin for return towards 0.9500.

Lahore FM 09:36 GMT January 8, 2009
Trade Ideas

01/08/2009 06:33:51 Anthony sao paulo 4
Excuse me I am a beginner and I didn,t understand what you meant by euro/chf 150 long treck up...?
--
Anthony i meant that eurchf will go much higher from the prices at the moment.i see it higher around 1.5300.the post was written at the rate 1.5023 now it is 1.4980 which is lower.so keep a reasonable stop on the long and target is what i mentioned.

Lahore FM 09:31 GMT January 8, 2009
Trade Ideas

01/05/2009 16:19:18 FM Lahore 49
sold audusd once more at 0.7150.
--
closed part at 0.7014,stops to entry on rest.

closed all of euruad long at 1.9349 for once for small gains.wiill reload if lower.

Lahore FM 09:28 GMT January 8, 2009
attn FM

thanx Peat,thanx Wfakhoury as well.i still do get my share of losers whether great trader or not!

Pecs Andras 09:26 GMT January 8, 2009
GBP
Reply   
Hi Guys,

I repeat my question from yesterday:
Just recently many were talking about parity in EUR/GBP. Now the pair is back to 0.9.
How do you see this pair in the light of the upcoming rate cut in the UK?

Lahore FM 09:23 GMT January 8, 2009
Trade Ideas

01/07/2009 18:34:11 FM Lahore 5
long eurjpy 127.00 looking for 134.00.stops at 125.20.
--
stopped at 125.20 for minus 180.

long again at 124.69 now.

Amman wfakhoury 09:16 GMT January 8, 2009
great trader
Reply   
Auckland peat 08:05 GMT January 8, 2009
attn FM : Reply
======
You are great trader , as you turned the failed call into success one.

Syd 09:16 GMT January 8, 2009
600,000 Workers Leave S China Industry Heartland -Govt
Reply   
BEIJING (AFP)--About 600,000 migrant workers left south China's industrial heartland last year as the economic crisis caused exports to shrink and forced factories to close, a senior official said Thursday. The number of migrants departing Guangdong province, one of the world's top makers of toys and electronic appliances, accelerated in 2008 as the global situation worsened, said provincial deputy governor Huang Longyun. "This year the situation is more serious than at any other time since the start of the decade, indeed since the Asian financial crisis," he said at a briefing in Beijing.
By the middle of last year, when the economic crisis was still in its embryonic stage, only 143,100 workers had left Guangdong - but the number reached half a million at the end of October and has now hit 600,000, he said. The official jitters were expressed in unusually candid terms this week in the weekly magazine Outlook, published by the state-run Xinhua news agency. The magazine warned of the rising risk of social disturbances, or "mass incidents", pointing out that nationwide 10 million out of 120 million migrant workers had lost their jobs. The magazine quoted Huang Huo, a senior Xinhua reporter, as saying that one of the most sensitive periods of 2009 would be after the Lunar New Year period in late January and early February. Once the holiday is over, millions of migrant workers will return from their rural homes to the big cities along the coast, and many may end up frustrated in their search for work. "There's absolutely no doubt that we've entered into a period of rising mass incidents, and in 2009 China could face more conflict," Huang told the magazine. China's export-dependent economy as a whole could grow by just 7.5% this year, the World Bank said recently, which would be the lowest level in 19 years.

AUD
Want a measure of how fast risk aversion has risen in the last day? RBC Capital Markets points to the 4.2% fall in the AUD/JPY in the last 24 hours. The pair is now at 64.24.

SH HL 08:07 GMT January 8, 2009
Brown in final gamble: to print money

RTRS--UK Treasury spokesman says reports govt about to print more cash"not accurate at this stage"

Auckland peat 08:05 GMT January 8, 2009
attn FM

closing now for +500. awesome..

KHI MK 07:28 GMT January 8, 2009
BUY
Reply   
Buy
Entry: 125.36 Target: OPEN Stop: 125.14

order was placed of buying EUR/JYP @125.36

Syd 07:19 GMT January 8, 2009
EUROPE
Reply   
A German sovereign bond auction failed on Wednesday as investors shunned one of the most liquid and safe assets in the world in a warning for governments seeking to raise record amounts of debt to stimulate slowing economies.
The fate of the first eurozone bond auction of 2009 signals trouble ahead as governments around the world hope to issue an estimated $3,000bn in debt this year, three times more than in 2008
FT.

sao paulo Anthony 06:33 GMT January 8, 2009
Trade Ideas

euro/chf
Entry: Target: Stop:

Excuse me I am a beginner and I didn,t understand what you meant by euro/chf 150 long treck up...?

KL KL 06:17 GMT January 8, 2009
Rockets Fired from LEBONON to Isreal
Reply   
Its Happening....according to AP....

Auckland peat 05:53 GMT January 8, 2009
attn FM
Reply   
really nice call on the Eur/Aud FM +350 for me now.
you certainly are a stalwart of this forum every time I come back to visit you are posting winners. agree with you that gold is a short - I posted that elsewhere at 850 but not such an ambitious target at you with 777 cf your 720
I'm currently short NZD/USD + 140 target is for 50 more.

wouldnt short Aussie yet to be honest imo the risk/reward isnt good enough until quite a bit higher

all fwiw and imho of course

Syd 04:44 GMT January 8, 2009
AUD Rally Drawing To An End - Westpac
Reply   
AUD rally is "drawing to an end" despite some improvement in commodities prices, Westpac senior currency strategist Jonathan Cavenagh says. Recommends selling AUD/USD at current levels. Notes further strength in AUD will be harder to come by and "there is risk of a correction over coming weeks." Says going short AUD/USD at current levels "represents good risk/reward". Looks to add to short positions on rallies back toward 0.7200 with stops above recent 0.7270 high. Also "ample scope" for AUD to correct vs EUR, JPY and GBP. AUD/USD now 0.7060

nj jf 01:29 GMT January 8, 2009
Complicated trading software

the software is as easy to use now as its every been - so if your having problems you should write on the help forum or contact [email protected] for extra help. gl

Frankfurt 01:17 GMT January 8, 2009
Complicated trading software
Reply   
Hi Guys, I am a British designer and It´s very hard for me to use all these software for trading in Forex, I really don´t know anything about finances. In my opinion someone should create easier software for FX trading.
Do you know simple software for trading in Forex?

Pamela Richards
Designer
Frankfurt

Syd 01:12 GMT January 8, 2009
DJ MARKET TALK: Aussie Building Data Point To Large RBA Cut - TD
Reply   
Sharp drop in Australian November building approvals underlines "fundamental weakness in Australian economy," says TD Securities' Josh Williamson; will likely swing market expectations toward "relatively large" RBA rate cut in February; "We're looking for a 75bps cut, but I don't think you could discount a larger cut based on the data that's come out today." Data well below expectations, suggests monetary stimulus in 3 months' to November has had "no impact whatsoever" in arresting decline in housing approvals; "Clearly, financial conditions in November remained tight. Even given the pent up demographic demand that exists in new dwellings, the result certainly suggests that housing construction is going to be a significant drag on GDP growth at least for the first six months of 2009," Williamson says.

"Horrific" Aussie Data Hints At A Trough - ICAP

"Absolutely horrific" Aussie buildings approvals data and worsening trade surplus may just hint the bottom is in sight, says ICAP economist Adam Carr. Says the lifeboat in the guise of rapid RBA rate cuts should soon be on the scene, as November's numbers were still too early to benefit from looser policy. "I would imagine we are pretty close to the trough realistically." Also notes worst of damage being done in resource states. "I suspect on any reasonable estimate of underlying demand, (residential) approvals should be picking up in the non too distant futures, rate cuts will make it more attractive for both buyers and builders." Expects a pick up in December.

Syd 00:55 GMT January 8, 2009
fx
Reply   
nj jf 00:47 GMT hi ,have been away over xmas, have returned with a completely new outlook :-))

philadelphia caba 00:53 GMT January 8, 2009
Calif. Taxpayers Due Refunds May Instead Get IOUs
Reply   
http://www.nbclosangeles.com/news/local/California-Taxpayers-Due-Refunds-May-Instead-Get-IOUs-.html

Syd 00:47 GMT January 8, 2009
DJ Aussie Econ Shows More Signs Of Pain
Reply   
Australian economy shows more signs of pain with exports missing market forecasts and residential building tanking; slump in trade surplus in November to A$1.45 billion (market expected A$2.45 billion) illustrates the hurt from the slowing of China's rapacious commodities appetite, with further slowing surely on horizon. Residential approvals meanwhile fell 12.8% in November on-month, after a 3.1% fall in October, adding to picture of pretty grim outlook for construction sector

nj jf 00:47 GMT January 8, 2009
syd
Reply   
dont knock yourself out the first week of trading !

Syd 00:31 GMT January 8, 2009
fx
Reply   
DJ
Australian Nov Value Of Bldg Approvals -9.9% On Mo
08 Jan 2009
Australian Nov Pvt-Sector House Approvals -9.7% On Mo
Australian Nov Residential Bldg Approvals -12.8% On Mo
Australia Nov Trade Surplus A$1.45B Vs Surplus A$2.1B Consensus


EUR/USD down as Singapore, other Asian names unwinding long positions ahead of first speech of new year by ECB president Trichet, says senior FX dealer at major Japan bank. Consensus was for no ECB rate cut next week, but market now looking for 50 bps; if Trichet's comments suggest possibility of more than 50 bps, "this could lead to euro selling that would push the pair down to around 1.3310," near its new year low.

Mtl JP 00:10 GMT January 8, 2009
Euro

for those who trade on fundamentals

EU reaches deal to monitor gas flow through Ukraine - IHT

"... After phone conversations with Prime Minister Vladimir Putin of Russia and his Ukrainian counterpart, Yulia Tymoshenko, on Wednesday, the European Commission president, José Manuel Barroso, said both leaders had agreed in principle to allow international monitors to verify gas movements. But he also warned both countries - particularly Ukraine - that failure to help restore supplies could have consequences for their relationships with the EU.

"We have received assurances both from Prime Minister Putin and Prime Minister Tymoshenko that they both accept international monitors," Barroso said. "

Good thing ... that phone technology. Poof, problem gone.

 




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