Forex Forum Archive for 01/02/2010

Syd 22:13 GMT January 2, 2010
Arabia takes the New Silk Road to China, spurning the West
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With hindsight we can see that two events occurring within days of each other in late 2001 brought about an epochal change in the world's strategic system, drawing China and the Mid-East oil powers into each other's arms again after five centuries of estrangement. The old Silk Road came back to life. LINK

U.S. Loan Effort Is Seen as Adding to Housing Woes
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Toronto MDunleavy 18:56 GMT January 2, 2010
Buy EurUsd
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Buy EURUSD
Entry: 1.4330 Target: 1.4650 Stop: 1.4200

EURUSD: The pair was seen heading higher in early trading today following a flat close on Wednesday but the immediate challenge is for it to break and hold above its Aug 05’09 high at 1.4446. Doing so will resume its corrective recovery initiated from the 1.4216 level towards the 1.4479 level, Dec 02’09 with a break setting the stage for a move higher towards the 1.4625 level, its Nov 03’09 low and then the 1.4799 level, its Nov 20’09 high. We envisage the 1.4479 or even the 1.4625 level to reverse roles and provide resistance. On the other hand, if the 14446 level holds as resistance and turns the pair back down, we should see further downside towards its Dec 22’09 low at 1.4216 with a cut through there allowing for further weakness aiming at the 1.4176 level, its Sept 01’09 low. Further down, supports are situated at the 1.4044 level, its Aug 17’09 and next its big psycho level at 1.4000[Written by actionforex]

LDN LDN 14:21 GMT January 2, 2010
gbp

It is hard for inflation to take a grip when there is so much slack in the global economy and unemployment stays high. Makes it hard for business to have pricing power.

sofia kaprikorn 13:42 GMT January 2, 2010
gbp

USA ZEUS 14:42 GMT January 1, 2010
........

hello sir, I'd rather concur with your opinion on Inflation being the cardinal market theme in 2010.

Having read a more informed opinion I had been speculating that we are still vulnerable to a situation that the Return OF instead of ON will be ruling once more.

With more positive macro data on deck the odds are turning to going into more Pro-Inflationary trading mode. gl/gt!

Setif 12:12 GMT January 2, 2010
help
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Dears

I'm new here as well as to forex. I hope that any of you could clear the following question to me:

If I opend a real trading account with $50 ,can I buy/sell EUR/USD then buy/sell EUR/GBP then buy/sell GBP/USD
in conscutive steps ? is it possible to make any profits by doing this pocess ?

any further details will be more than apreciated .

thank you advance

Hong Kong Qindex 05:17 GMT January 2, 2010
QIndex Trading System

Sell GBP/CHF
Entry: Target: Stop:

GBP/CHF : Resistance at 1.6741


As shown in the monthly cycle charts the market is stable when it is trading above the monthly cycle pivot centers at 1.5112 - 1.5416 - 1.5518. The market momentum is strong when it is above the weekly cycle pivot centers at 1.6570 - 1.6587 - 1.6682. Basically the market is going to consolidate within the monthly cycle upper mid-point references at 1.6486 - 1.6719 - 1.6975. A resistant point is positioning at 1.6741. Sell on rallies is the preferred trading strategy.


GBP/CHF : Monthly Cycle Charts
http://www.qindex.com/gbp-chf.html

Syd 05:07 GMT January 2, 2010
Growth to triple in 2010, say economists Economists say economic growth is set to triple in 2010.
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The Treasury and Reserve Bank expect the growth rate to return to around 3 per cent this year, up from around 1 per cent in 2009. But the surge in economic activity is expected to exacerbate the skills shortage and put pressure on infrastructure and inflation. A senior economist at ANZ, Julie Toth, expects a cash rate of close to 5 per cent by the end of the year as the RBA lifts the official interest rate to counter the rapid growth.
"Through the second half of 2009, we saw pretty much all economic indicators accelerating quite rapidly," she said.
"As a result, the Reserve Bank's already had to move off that 3 per cent low that we saw earlier in the year and move back to what it regards to a more normal range for the cash rate for Australia." Some economists are also expecting the Australian dollar to climb to $US1 this year. It would be the first time the local currency has hit parity since it floated almost 30 years ago.
Ms Toth says the dollar could spike above parity occasionally, but she expects it to spend most of this year valued at around 85 to 90 US cents.

http://www.abc.net.au/news/stories/2010/01/01/2783722.htm

HK [email protected] 02:51 GMT January 2, 2010
gbp

GBP is very interesting, and need to observe for sometime as it may stage a surprise recovery up to 1.6950.