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Forex Forum Archive for 03/24/2010

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dc CB 23:56 GMT March 24, 2010
Eur - Goldman
Reply   
Goldman now says short for 131. (March 12 they said long for 145).


180 Move Of The Day: Goldman Scraps Its Long Euro Call

Syd 23:08 GMT March 24, 2010
RBA Lowe: Rates Need To Continue Gradual Move Toward Normal
Reply   
Interest rates in Australia will likely need to continue to move toward more normal settings as it becomes ever clearer the economy has entered a firm upswing, with limited spare capacity and the country's trading partners in Asia growing strongly, a senior central bank official said Thursday.

Reserve Bank of Australia's assistant governor for economic matters, Philip Lowe, reiterated that policy needs to be adjusted based on the bank's central, positive scenario despite ever-present risks to that outlook.

"The alternative of waiting to see how the myriad of risks evolves before adjusting policy runs the significant downside of moving too late, particularly given that the economy is starting this upswing with less spare capacity than in previous upswings," he said.

The remarks by Lowe reiterate the bank's recent upbeat outlook on the economy and underscore monetary policy tightening has further to run.

Australia's central bank has moved swiftly to hike rates since it became apparent the economy had escaped the worst of the global downturn, raising its cash rate target to 4.00% by March from 3.00% in October.

In a speech in Sydney, Lowe said employment growth has been robust and an expected significant rise in Australia's terms of trade means the economy has entered "a reasonably solid upswing".

"As the bank has noted a number of times, with the economy having relatively limited spare capacity, it is likely that interest rates will need to continue their gradual move towards more normal levels," Lowe said.

On the housing market, the assistant governor said there are no signs of the kind of financial developments that caused concern in 2002 and 2003, but warned lenders and home buyers will need to proceed with caution.

"This is good news, as it would obviously be unhelpful if a speculative cycle were to emerge on the back of the recent strength in housing prices."

He said the housing market appears buoyant, and although home loan approvals have fallen, it is too early to tell whether this represents a broad-based cooling of the market.

Prices for iron ore and coal are likely to be substantially higher over the next year, something that doesn't always get the attention it deserves, Lowe said.

"A significant rise in the terms of trade is expected over the year ahead. While movements in the terms of trade do not get the same high-frequency attention as many of the monthly economic indicators, history suggests that they have a large influence on how the overall economy performs," he said.

A strong exchange rate and slowing in wage growth have meant inflation has declined as expected, while the bank's liaison with the retailers suggests there has been significant recent discounting.

"We need to ensure that inflation pressures remain contained and that inflation expectations remain well anchored," he said.

Lowe also repeated the bank's line that flexibility in the exchange rate acts as a buffer for the economy and the local currency should trade at a higher average rate.

"Movements in the value of the Australian dollar are largely seen to be a stabilizing force for the economy. There is also a general acceptance of the view that, over the next few years, our real exchange rate is likely to be higher than the average over the past decade or so," Lowe said.

While acknowledging risks to the global recovery, the RBA's core forecast is for an average pace of growth across the world, with higher interest rates in Australia and Asia acting as a magnet for inward capital flows.

GVI Forex Blog 23:01 GMT March 24, 2010 Reply   
The Canadian dollar fell on Wednesday in a general shift out of risky assets in favor of the U.S. dollar, but it cut losses after a speech by Bank of Canada Governor Mark Carney was perceived as

Forex Market News - CANADA FX DEBT-C$ falls but pares losses after BoC speech

Syd 22:37 GMT March 24, 2010
NZ 4Q GDP +0.8%, Boosted By Manufacturing
Reply   
AUD/USD Slide Puts Cross Near Support - Nomura
It's a pretty clean slate for AUD today after surging USD weighed on all riskier currencies overnight, says Nomura Chief Economist Stephen Roberts. "I wouldn't make too much out of overnight move because next step depends on what comes out of that EU conference this week. If there are the beginnings of a resolution [to Greek debt issues], this could be reversed pretty fast," says Roberts. AUD/USD recently at 0.9073, down from above 0.9150 late yesterday. Roberts, who notes AUD was little changed against many other currencies, says AUD/USD is looking to build a base around 0.9000 and possibly rebound.

NZ 4Q GDP +0.8% on quarter, bang in line with economists' expectations; on year GDP +0.4% vs expected +0.3%, as economic recovery gathers some momentum. Stats NZ says main driver 4.5% increase in manufacturing activity, first gain after 7 consecutive quarterly falls, "reflects both increased demand and the need to replenish manufacturing inventories that have recently been run down." Expenditure measure of GDP +0.8% vs previous quarter and household consumption expenditure +0.9%, will add to view that tepid recovery starting to take hold. But data unlikely to ruffle RBNZ's feathers as central bank was tipping GDP to expand 0.6% on quarter, will add to view first rate hike likely to come June at earliest.


Under the agreement, British-based BG Group will supply 3.6 million tonnes of LNG each year to the China National Offshore Oil Corporation from its Curtis Island project at Gladstone in Queensland.

The contract could be worth $60 billion to $80 billion over the 20-year life of the project, although the volatile oil price will ultimately determine whether it will be more or less.http://www.dailytelegraph.com.au/business/business-owner/australia-signs-monster-80b-gas-deal-with-china/story-e6frez89-1225845007803

US Riskier Than Euro Zone; So Says CDS Market
Something troubling has occurred in the market for default protection on the debt of the world's biggest borrower.

As the folks at Standard & Poor's Valuation and Risk Strategies division noted in a research note Monday, the difference between the spread on U.S. sovereign credit default swaps and an equivalent benchmark for AAA-rated euro-zone sovereigns flipped into positive territory March 12. As U.S. CDS spreads expanded to their widest levels in two years, that cross-region gap blew out to 5.7 basis points last Friday before narrowing to 4.7 Tuesday.

Wider CDS spreads indicate that sellers of insurance against a particular issuer's default are charging more for it. In effect, the positive U.S.-versus-euro zone spread means investors think the risk of a U.S. default--however remote--is greater than that on euro-denominated sovereign debt.

So much for the view that low inflation and loose monetary policy make for a rosier debt outlook for Treasurys than for the debt of crisis-hit euro-zone sovereigns.

"We've seen CDS on U.S. Treasurys break with euro CDS before, but never to the degree we have here," said Michael Thompson, head of research for S&P's Valuation and Risk Strategies group. "If we sit on this precipice for a time, I think a lot of market participants would see this as a bit of a shot across the bow, a bit of a wakeup" for anyone who's complacent about U.S. debt.

Wouldn't it also challenge U.S. Treasurys' status as the so-called "risk free" benchmark?

S&P didn't go there. But the report did say the trend "reflects increasing market anxiety surrounding the U.S.'s credit quality." In other words, a fiscal deficit worth 10% of gross domestic product--in the absence of a clear plan to reduce it--matters.

My first instinct was to dismiss the trend as an anomaly fueled by the technical quirks of an illiquid sovereign CDS market, where a conflicting array of investment strategies can confuse price signals. Some market participants use CDS contracts to hedge existing positions in underlying bonds, others sell default insurance as an alternative exposure to those bonds, while still more seek to extract arbitrage profits from playing between the two.

What's more, the AAA euro-zone benchmark doesn't reflect bets on a single sovereign's debt but rather a basket of the region's six remaining AAA-rated countries: Germany, France, Austria, Finland, the Netherlands and Luxembourg. Disentangling its message on default risk could be messy.

And what, after all, can a current-day contract on a future Treasurys default tell U.S. when a U.S. breach on its financial obligations is virtually inconceivable? [The government would pay for its debt with inflation long before opting for the blunt instrument of default.]

Yet, notes Thompson, "there is real money changing hands there [in CDS markets]. And if there is real money changing hands, there has to be real value ... The market is expressing some valuable information."

Short-term moves of a basis point or two can be attributed to technical factors, but such a lasting shift in the two regions' CDS relationship "is not technical," Thompson said. "I certainly wouldn't ignore it."

Thompson's team also noted that the deterioration in U.S. default swaps meant that S&P's "market-derived signal" dropped to 'aa+,' its lowest level in two years. The historical series for that indicator is based on an established correlation with actual S&P ratings.

There's no indication that S&P's separate ratings division is about to downgrade the U.S. 's vital 'AAA' rating. But over time, ratings analysts cannot stay blind to market signals like this one. As its weighs the stimulus needs of a still-fragile US economy against future risks to debt servicing costs, the U.S. government can't ignore market signals either.

Belgrade AS 21:59 GMT March 24, 2010
audusd broke rising support
Reply   


Sell AUDUSD
Entry: 0,9100 Target: 0,8600/open Stop: @ ur will

with a daily close below trendline,monky-pressing "sell" button should do it.
PS:selling into nzd strength tonite is a must!(last chance to dance!)

Cairo Hesham 21:13 GMT March 24, 2010
USD/JPY target revised down 92.20/40

To Ginko: What do u expect for the following move of the usd/jpy

USA ZEUS 21:12 GMT March 24, 2010
EURUSD

Not to get too far ahead of ourselves, 1.3277 is the next critical fulcrum balance point. 1.2777 is the following.

tokyo ginko 21:06 GMT March 24, 2010
USD/JPY target revised down 92.20/40

sorry, i am late.

GVI Forex Blog 20:36 GMT March 24, 2010 Reply   
The dollar rallied broadly on Wednesday, pushing the euro to a 10-month low after a rating downgrade on Portugal added to worries about debt levels and growth in the euro zone's smaller countries.

FOREX NEWS-Dollar gains broadly; Portugal downgrade hurts euro

Kaunas DP 20:35 GMT March 24, 2010
eurusd

1.3355 in Asia tonight - FIRST - IMHO

Tallinn viies 20:31 GMT March 24, 2010
eurusd
Reply   
euro broke 1,3430 and 1,3400 dnt and party started.
now 1,3300 under heavy fire and most likely 1,3259 will be traded before Ldn comes in again.
it is almost impossible to get over 1,3410-50 level so selling is my plan and stop at 1,35.
will try contra trades at 1,3210-15

GVI Forex john 20:18 GMT March 24, 2010
double whammy



Re interest rates: Various rate maturities are updated twice daily on Global-view. Actual rates and charts are available on the left sidebar and chart gallery plus other places.

Furthermore there are 2-year interest rate spreads charted against currency pairs updated twice daily in our Daily Forex Report.

Feel free to ask any questions here.



Belgrade AS 19:59 GMT March 24, 2010
complex H&S(head itself is a H^S)
Reply   


Buy Gold
Entry: 1077,00 Target: 1167/open Stop: 1057,00

this idea is not mine...been circulating for a while
makes sence from every angle and is worth a try, i think.
i'll play it with 3 units-pending orders
risk covering :1/3 out on +40
stops : -20
target #1:neckline
target #2:open(1300-1500...depending on the size of chaos our leaders manage to make in our name)
see ya!

GVI Forex Jay 19:54 GMT March 24, 2010
double whammy
Reply   


As posted on GVI Forex

Look no further than interest rates:

2 YEAR 1.09%
10 YEAR 3.83%

to explain dollar strength.

Add on top of it political disarray in the EZ and you have the double whammy.

Weekly jobless claims will take on add significance tomorrow.

US jobs report comes out a week from Friday when most of the trading world will be closed for Good Friday. Forecasts are for 200K+ although data will be skewed higher by temporary census workers. Dollar should be supported ahead of it barring a Greek surprise. EUR/USD would need to move above 1.3435 to shift focus to 1.35. Below 1.3350 targets 1.32.

PAR 19:49 GMT March 24, 2010
Greece / Always Greece

Interest rates surge after weaker Treasury auction
By TIM PARADIS (AP) – 33 minutes ago

NEW YORK — Interest rates surged in the bond market Wednesday after a government debt auction drew only tepid demand for second day.

The disappointing turnout for the Treasury Department's $42 billion auction of five-year notes raised the prospect that investors' appetite could be waning for Washington's IOUs. If demand for debt drops, the government would be forced to pay higher interest rates to attract investors. The drop in prices sent yields charging higher. The yield on the five-year note rose to 2.57 percent from 2.42 percent. Its price fell 21/32 to 99 3/32.

The yield also soared on the benchmark 10-year Treasury note maturing in February 2020. That could translate to higher costs for consumers because the 10-year yield is linked to interest rates on mortgages and other consumer loans.

USA ZEUS 19:47 GMT March 24, 2010
EURUSD

Looking for 1.2777 to show up soon.

Belgrade AS 19:46 GMT March 24, 2010
EURUSD

Chicago sc 19:23 ,this is mid-air...bottom is 350 pips lower
no support whatsoever before then...just fish taking profits prematurely.

PAR 19:39 GMT March 24, 2010
Greece / Always Greece

March 24 (Bloomberg) -- Greece will default on its bonds “at some point” as the euro region fails to deal with its first major economic crisis, said Paul Donovan, deputy head of global economics at UBS Investment Bank.

“I think it’s in an impossible situation,” said Donovan, who is based in London, in an interview with Bloomberg Radio today. “Europe has failed to clear its first serious hurdle. If Europe can’t solve a small problem like this, how on earth is it going to solve the larger problem, which is the euro doesn’t work. It’s a bad idea.”

European governments have yet to agree on how to fund any rescue for Greece, which says it will struggle to pay its debts at current market interest rates. While Prime Minister George Papandreou announced a 4.8 billion euro ($6.4 billion) austerity package on March 3, the extra yield that investors demand to hold Greek debt over German counterparts has since risen.

GVI Forex Blog 19:38 GMT March 24, 2010 Reply   
USD rockets on sovereign credit quality fears EUR and GBP sharply lower U.S. Treasuries beaten Darling trims deficit estimates

Forex Market Commentary and Analysis (24 March 2010)

PAR 19:25 GMT March 24, 2010
Greece / Always Greece
Reply   
PARIS (MNI) - Now that Greece has a credible consolidation program which should convince financial markets, it is difficult to see how the intervention of the IMF would improve the situation, ECB Governing Council member Christian Noyer said Wednesday.

Greece's "very courageous" strategy to reduce its deficits, drawn up under the auspices of the European Commission, is "entirely credible" and the financial markets should take this into account, the governor of the Bank of France told the Finance committee of the National Assembly.

Besides supplying countries with balance of payments problems the hard currencies they need, the role of the IMF is to institute a program of structural reforms that will restore credibility, Noyer explained.

This groundwork has already essentially been accomplished within the structures of EMU and its Stability Pact, he reasoned.

The problem of Greece is that its production costs rose faster than the EMU average and it redistributed assets it did not have, with the result of a loss of competitiveness, Noyer explained.

"If you do that for 10 years you lose a lot" of competitiveness, he said. "If you are in a monetary union, the only means of adjustment is through the real [economy]" -- by reducing wages and public outlays.

This is "very difficult" for the populations to support, he conceded. "Evidently it creates more unemployment and sub-par activity."

-Paris bureau tel.: +331 4271 5540; email: [email protected]

Chicago sc 19:23 GMT March 24, 2010
EURUSD
Reply   
Testing its lows of the day now. Dealers setting up for
payroll figures in a little over a week? EURUSD has absolutely no bounce in it. Hitting the bottom with a a dull thud.

GVI Forex Blog 19:20 GMT March 24, 2010 Reply   
Risk aversion increased. Markets were hit globally by the downgrade of Portugal by Fitch, from AA to AA- with a negative outlook, citing weaker prospects for recovery than its EU15 peers. In the US, new home sales fell against expectations.

Forex Research - Morning Report

jerusalem KB 19:18 GMT March 24, 2010
GETTING READY FOR LONG

not valid any more

GVI Forex Blog 19:17 GMT March 24, 2010 Reply   
20:00 GMT- Mar 24 (global-view.com) Wednesday was a very active trading session early with the EURUSD breaking through an important support zone just above the 1.3400 level in EURUSD.

Daily GVI Forex Forex View- Capital Flight to USD

GVI Forex john 19:13 GMT March 24, 2010
GVI Forex Trading Support


The Daily Forex View

Capital Flight to USD

20:00 GMT- Mar 24 (global-view.com) Wednesday was a very active trading session early with the EURUSD breaking through an important support zone just above the 1.3400 level in EURUSD. 

MORE...



GVI Forex Blog 18:57 GMT March 24, 2010 Reply   
The USD/JPY pair has been in a choppy bearish trend since summer of 2007. In the weekly time-frame, we see the market break an intermediate trendline, while...

FXTimes: Daily Technical Update USD/JPY Tests Long-Term Trendline after Breaking Intermediate Trendline

GVI Forex Blog 18:56 GMT March 24, 2010 Reply   
The EUR/USD has been in consolidation, but we saw a strong rejection from completing a rounded bottom as a possible sign of bearish continuation.

FXTimes: Daily Technical Update EUR/USD On to the Next Support

Belgrade AS 18:51 GMT March 24, 2010
auction

anytime Zeus!
you buying your favorite metal @1075,xx?

USA ZEUS 18:32 GMT March 24, 2010
auction

AS- Thanks for the great stuff. I "trust" that we will take advantage of such and be the balance for their check.

Belgrade AS 18:30 GMT March 24, 2010
auction

us treasuries and gold have abnormally high correlation lately...some 70% on the average
seems to be working out today,as well!
btw,has anyone checked Portugese bonds 24 hours after the downgrade?...speaking of trust...and yeah! i double-checked the fact that U.K debt yields rose more then Greek during last 12 months!!!! it's true.
...speaking of trust!

GVI Forex Blog 18:11 GMT March 24, 2010 Reply   

Crude Oil Weaken on Bearish EIA Data

GVI Forex Blog 18:10 GMT March 24, 2010 Reply   

Euro Falls on Greece, Portugal Woes

Lahore FM 18:10 GMT March 24, 2010
Trade Ideas

NZ GDP at 2145 gmt will guide sentiment in commodity pairs imho, for the coming session!

USA ZEUS 18:04 GMT March 24, 2010
auction

Ahh. Well it's certainly nice to have friends you can do business with! :-)

Lahore FM 18:02 GMT March 24, 2010
auction

SFH,shorted stox a few times and last one is holding because of a larger stop.i see weakness creeping in already.let us see.

Lahore FM 18:01 GMT March 24, 2010
auction

Zeus

:)) he is a friend and a client too,and in that order!

London SFH 18:00 GMT March 24, 2010
auction

I think your friend might be right,,the US govenment are on the bid though ..watch stocks ..they wil be the indictor imho..

USA ZEUS 17:59 GMT March 24, 2010
auction

Lahore FM 17:55 GMT March 24, 2010
FM- Is that by chance your old boss?

Lahore FM 17:55 GMT March 24, 2010
auction

a friend from Deustche NY says the bond results were so poor that bond market can go into a tailspin.

USA ZEUS 17:52 GMT March 24, 2010
EUR/USD

Interesting 1.3333 level.

NY BT 17:10 GMT March 24, 2010
auction
Reply   
The 5 year auction was another lackluster result. Higher US yields are one reason why the usd is higher. 7 year auction tomorrow and that usually produces the worst result.

Melbourne Qindex 17:05 GMT March 24, 2010
EUR/CHF : Current Comments
Reply   
EURCHF
Entry: Target: Stop:

EUR/CHF : The market is under pressure when it is below the daily cycle matrix system at 1.4253 - 1.4273 - 1.4284. The initial downside target points of the weekly cycle are 1.4222 - 1.4244 - 1.4311.



EUR/CHF : Monthly Cycle Charts
http://www.qindex.com/eur-chf.html

Melbourne Qindex 17:00 GMT March 24, 2010
AUD/USD : Current Comments
Reply   
AUDUSD
Entry: Target: Stop:

AUD/USD : The market is positive when it is consolidating within the daily cycle matrix system at 0.9046 - 0.9081 - 0.9160.

Melbourne Qindex 16:53 GMT March 24, 2010
USD/CAD : Current Comments
Reply   
USDCAD
Entry: Target: Stop:

USD/CAD : The market is under pressure when it is below the daily cycle matrix system at 1.0384 - 1.0391 - 1.0394. On the other hand it is stable when USD/CAD is above the weekly cycle pivot centers at 0.9976 - 1.0075 - 1.0109. Sell on rallies is still the preferred trading strategy when the market is trading within the following projected series :-



0-9421 - 0.9556 - 0.9569 - 0.9755 - 0.9891 // 1.0042 - 1.0151 - 1.0241 - 1.0243 - 1.0384 - 1.0391 - 1.0394



USD/CAD : Monthly Cycle Charts
http://www.qindex.com/cad.html

Mtl JP 16:49 GMT March 24, 2010
USD/JPY

Jay -- g-v' s Forex Pivot Points really rock !

and an outstanding post:
visual line chart presentation and numerical risk paraameters delimited bias !

your experience and expertise shone through

Thank you!

Lahore FM 16:46 GMT March 24, 2010
Trade Ideas

rejected off 92.05 for now

Melbourne Qindex 16:44 GMT March 24, 2010
USD/CHF : Current Comments
Reply   
USDCHF
Entry: Target: Stop:

USD/CHF : Speculative selling pressure will increase when the market is below the daily cycle matrix system at 1.0568 - 1.0597 - 1.0674. The weekly cycle pivot centers at 1.0582 - 1.602 - 1.0635 suggests that the market is stable at this moment.



USD/CHF : Monthly Cycle Charts
http;//www.qindex.com/chf.html

Melbourne Qindex 16:34 GMT March 24, 2010
EUR/USD : Current Comments
Reply   
EURUSD
Entry: Target: Stop:

EUR/USD : The market is negative when it is below the daily cycle matrix system at 1.3419 - 1.3434 - 1.3436. The market is under pressure when it is trading below the weekly cycle pivot centers at 1.3387 - 1.3403 - 1.3485.



Trading Reference



1.2949 - 1.2957 - 1.2973 - 1.3004 - 1.3138 - 1.3160 - 1.3170 - 1.3231 - 1.3273 // 1.3419 - 1.3434 - 1.3436



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

Tokyo JT 16:28 GMT March 24, 2010
Trade Ideas

Bye bye 92.05 and 90.10 for now.... See you next month!

Melbourne Qindex 16:26 GMT March 24, 2010
GBP/USD : Trading Reference

Trading Reference (Updated)


1.4386 - 1.4533 - 1.4573 - 1.4778 - 1.4779 - 1.4788 - 1.4846 // 1.4936 - 1.4946 - 1.4955 - 1.5021 - 1.5035

Melbourne Qindex 16:21 GMT March 24, 2010
GBP/USD : Trading Reference
Reply   
GBPUSD
Entry: Target: Stop:

GBP/USD : Sell on rallies is the preferred trading strategy when the market is trading below the daily cycle matrix system at 1.4946 - 1.5021 - 1.5035. The initial weekly cycle downside targeting points are 1.4778 - 1.4811 - 1.4846.



Trading Reference


1.4386 - 1.4416 - 1.4490 - 1.4503 - 1.4533 - 1.4779 - 1.4788 // 1.4936 - 1.4946 - 1.4955 - 1.5021 - 1.5035



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

Amman wfakhoury 16:21 GMT March 24, 2010
gbpusd Profitmaker alert
Reply   
14930 will be touched again.

Mtl JP 16:16 GMT March 24, 2010
EUR/USD

re "on his own" - AS except IF you are Citi or AIG or Greece or some other such member of the inbreads whose genepool the gov'ts do not want to see dis-appear

Tokyo JT 16:15 GMT March 24, 2010
Squared out
Reply   
New York tested the offers at 92.00....Hearing many offers lining up here from Mega Bank traders.....

Squared out all Yen shorts. DlrYen 92.00, AussieYen 83.60...and content!

10Yr yields hardly moved on equity sell off earlier, and looks still climbing higher. Yen bears should show up again later on.



tokyo rana 16:14 GMT March 24, 2010
Trade Ideas

Lahore FM,thanx alot ok brother no problem,take care,if you think any pair better than gbpjpy than tellme?happy trade good luck,best regards

Melbourne Qindex 16:10 GMT March 24, 2010
USD/JPY : Current Comments
Reply   
Buy USDJPY
Entry: Target: Stop:

USD/JPY : The market is positive when it is able to close above the daily cycle matrix system at 89.83 - 90.92 - 91.36. The initial weekly cycle upside targeting points are 91.45 - 91.49 - 92.07. Buy on dips is the preferred trading strategy.


Trading Reference :


89.83 - 90.92 - 91.03 - 91.36 - 91.57 // 92.30 - 92.32 - 92.64 - 93.68 - 93.69 - 93.81 - 93.90

jerusalem KB 16:09 GMT March 24, 2010
GETTING READY FOR LONG

yes i am talking about gbpusd and i was very clear that i will go long when there is a breakout out of trend line in 1hr chart.
and if you check the att chart u will see that i am still holding short(1/2) for 1.4830....unless LONG TRADE SETUP FORMED

PAR 16:09 GMT March 24, 2010
USDJPY
Reply   
Any intervention ?

Lahore FM 16:07 GMT March 24, 2010
Trade Ideas

rana,i have not been following gbpjpy.busy in other pairs here.

tokyo rana 16:06 GMT March 24, 2010
GETTING READY FOR LONG

Ath. Xarian,and what your predictionabout gbpjpy if gbpusd 1.35?best regards

PAR 16:03 GMT March 24, 2010
Greece Summit
Reply   
AMSTERDAM, March 24 (Reuters) - Dutch Prime Minister Jan Peter Balkenende said on Wednesday that a proposed special summit of euro zone leaders on Greece's financial woes was "too risky", Dutch news agency ANP reported.

The EU's full-time president, Herman van Rompuy, is trying to organise the special meeting ahead of a scheduled European Union summit in Brussels on Thursday. [ID:nBFA001106]

Citing comments by Balkenende in parliament, ANP said the prime minister wanted more information on the reasons behind the meeting.

"Just calling the euro group together ... is too risky," Balkenende said.

Balkenende also reiterated the Dutch preference for the IMF to support Greece if needed, while acknowledging that IMF help on its own might not be enough, ANP reported. (Reporting by Ben Berkowitz; editing by Noah Barkin)

Juffair KaL 16:03 GMT March 24, 2010
EUR/USD

for the same array of dates
usdjpy
I do not think you should mess with shorts
carry trades are on
USDJPY
96.16 89.18
96.67 89.69
97.22 90.24
97.81 90.83
98.44 91.46
99.12 92.14
99.83 92.85

Ath. Xarian 16:02 GMT March 24, 2010
GETTING READY FOR LONG

Correct,yes

bucharest vicx 16:01 GMT March 24, 2010
GETTING READY FOR LONG

u are tlaking about gbp usd??

Belgrade AS 16:01 GMT March 24, 2010
EUR/USD

Mtl JP 15:33 , i know.i monky play...of course! i just think it;s very irresponsible to tell a novice colegue to do it as well...
FX is the best multi player interactive game there is and one can make a game out of it on any level(and there are so many levels to it-it's scary)
when asked,i say macro level is the best when played with micro units.that way i can go play with my kid without a worry who understood what,you know?
when it comes to pulling the trigger or taking a bullet,every man is on his own,anyway.

Ath. Xarian 15:59 GMT March 24, 2010
GETTING READY FOR LONG

GETTING READY FOR LONG????

I see..I'll give you a tip on cable and think about it a little.For those who wanna follow it wait for confiration from the news and the price action.
We are sitting @ 1,4900 on cable inside a range too.In a couple of weeks we'll see cable dragging low...deep..very low..around 1,3500.It will start soon..the reason? A default on UK banks..Wait and see.
Talk you again in a couple of weeks..

GL and trade safe

tokyo rana 15:53 GMT March 24, 2010
Trade Ideas

Lahore FM,thats good news about usdjpy.....tellme im wrong gbpjpy go down from current level 137?happy trade,best regards

lkwd jj 15:52 GMT March 24, 2010
GETTING READY FOR LONG

shs you see ? i dont.

Lahore FM 15:50 GMT March 24, 2010
Trade Ideas

Rana,usdjpy 92.05 can cap current move and we can fall back to 90.10.that's for a view!

Lahore FM 15:49 GMT March 24, 2010
Trade Ideas

Buy USDCAD
Entry: 1.0179 Target: Stop: 1.0120

03/24/2010 12:43:40 FM Lahore 8

Buy USDCAD
Entry: 1.0179 Target: Stop: 1.0120
03/23/2010 16:21:02 FM Lahore 10

Buy USDCAD
Entry: 1.0179 Target: Stop: 1.0120
added scond long with separate stop,targets around 1.05.
--
closed half at 1.0245 now.stops stay as before.
--
rest out at 1.0279 now for 100+ pips.

jerusalem KB 15:44 GMT March 24, 2010
GETTING READY FOR LONG



yes jj that is why i am waiting for more cnfirmation , if u check the att chart i see inverted head & shoulder, i will go long a 1hr close above trend lineformation of 2d shoulder) and will have rsi breakout & if this happened my stop will be todays low and 1st target 1.5025.
all are related to ress.breakout

Juffair KaL 15:33 GMT March 24, 2010
EUR/USD

i agree
looking at these tops and bottoms

EURUSD
March 24, 2010 1.3531 1.2672
March 29, 2010 1.3451 1.2592
April 3, 2010 1.3369 1.2511
April 8, 2010 1.3285 1.2426
April 13, 2010 1.3199 1.2340
April 18, 2010 1.3110 1.2251
April 23, 2010 1.3019 1.2160

looks great

USDCHF
March 24, 2010 1.1287 1.0687
March 29, 2010 1.1360 1.0760
April 3, 2010 1.1436 1.0836
April 8, 2010 1.1517 1.0917
April 13, 2010 1.1601 1.1001
April 18, 2010 1.1689 1.1089
April 23, 2010 1.1782 1.1182

Mtl JP 15:33 GMT March 24, 2010
EUR/USD

AS - maybe it ll come as a surprise to you (not really important): price-level picking snippers have a reasonable chance.

Coz they are quick on (re)calculating the skew of odds and, equally importantly, are quick to act when it meets their parametric criteria.

U can, IF you chose to, see some examples of that here on g-v's FF posts. (and... free - to you)

tokyo rana 15:32 GMT March 24, 2010
gbpjpy

Sell GBPJPY
Entry: Target: Stop:

nyc ws,not always if gbp get strong iwill long buy...now down trend so short is good.what do you think ?not agree?i sell yen all pairs bcoz yen so strong...you i bought gbpjpy @159 and sold 135 2400pips lost...happy trade,best regards,

lkwd jj 15:29 GMT March 24, 2010
GETTING READY FOR LONG

having trouble staying above 149.05 (s2) could fall to 148.37

nyc ws 15:28 GMT March 24, 2010
gbpjpy

Rana, you always seem to be selling gbpjpy.

jerusalem KB 15:28 GMT March 24, 2010
GETTING READY FOR LONG
Reply   
My system shows some sign of upmove for gbpusd it is not matured yet but will follow with no rush to jump in a long trade

GVI Forex Blog 15:27 GMT March 24, 2010 Reply   
In currency trading, the greenback was off its best levels against the major pairs in the later New York morning, although European sovereign issues and higher interest rates versus Japan all helped strengthen the dollar.

Forex Blog - US Market Update (Trade the News)

GVI Forex Blog 15:26 GMT March 24, 2010 Reply   
Price action on EUR/USD, a daily chart of which is shown, has displayed a strong bearishness in line with the overall prevailing downtrend, establishing a new 10-month low in the process

Chart of the Day - 3/24/2010 – EUR/USD

Belgrade AS 15:22 GMT March 24, 2010
EUR/USD

i got my head checked by a jumbo jet,but i'm not mad to fade into usd strength...i'm short cable and nzdusd for almost 2 months...last week i sold some audusd and will add more to everyone of those if i get a chance...will also sell eurusd @1,3480 when it gets tested for resistance
i'm very bad in intra-day stuff ...infact, i think nobody has a chance to win on micro time frames

Juffair KaL 15:21 GMT March 24, 2010
Carry trades
Reply   
carry trades recommended
EURUSD short till 1.27
USDCHF Long till 1.12
AUDNZD Long till 1.33
NZDUSD short till .6430
audusd short till .8200
eurgbp short till .86

DJI till 10,000

GVI Forex Blog 15:12 GMT March 24, 2010 Reply   
Mar 24 (global-view.com) UPCOMING DATA HIGHLIGHTS: On Thursday, no major data are due from the Far East. In Europe, Eurozone Money Supply data are due. U.K. retail sales data are scheduled.

GVI Forex- Data Outlook for March 25, 2010

bucharest vicx 15:12 GMT March 24, 2010
EUR/USD

thkx belgrade as and zeus for the promt answer that u gave to me!

GVI Forex john 15:09 GMT March 24, 2010
GVI Forex Trading Support

Mar 24 (global-view.com) UPCOMING DATA HIGHLIGHTS: On Thursday, no major data are due from the Far East. In Europe, Eurozone Money Supply data are due. U.K. retail sales data are scheduled. In North America, Weekly jobless claims and natural gas inventories are slated. Later the U.S. Treasury will hold a 7-yr bond auction.

 

 

THURSDAY

 

 

0:00

Fed

Kohn

n/a

n/a

9:00

EZ

Feb Private Loans

-0.04%

-0.60%

9:00

EZ

Feb M3 3mo-avg

n/a

-0.10%

9:00

EZ

Feb M3 yy

-0.10%

0.10%

9:30

UK

Feb Ret Sls mm

0.70%

0.30%

9:30

UK

Feb Ret Sls yy

3.20%

0.90%

12:30

US

WK Initial Claims k

450

457

12:30

US

WK Cont Claims m

4.56

4.579

14:30

US

DOE Nat Gas bcf

11

-11

17:00

US

TRY 7-yr

n/a

n/a

tokyo rana 15:04 GMT March 24, 2010
gbpjpy
Reply   
Sell GBPJPY
Entry: Target: Stop:

gbpjpy ithink 137.200 is high of today and this week..ithink gbpjpy going to fall soon...any view?ithink gbpjpy going to 134 135 soon...im still shorting gbpjpy.happy trade,any body have idea why yen get weak in mid week?is it uk budget came out?best regards

jerusalem KB 15:03 GMT March 24, 2010
sell gbpusd

CLOSD BOTH POSITION OW AT 1.4900 WITH 75PIPS+

bucharest vicx 15:00 GMT March 24, 2010
EUR/USD

belgrade as u are on long now on eurusd?!? did ai interpret u correctlly?!!?

St. Pete jcm 14:59 GMT March 24, 2010
EUR/USD

AS .... nothing free about it!

Belgrade AS 14:54 GMT March 24, 2010
EUR/USD

i stand corected!...fortunate ones are finally kind to less fortunate ones!

bucharest vicx 14:53 GMT March 24, 2010
EUR/USD

long eurusd short usdchf! 50 pips?!!? any ideeas its ok!

bucharest vicx 14:51 GMT March 24, 2010
EUR/USD

USA ZEUS u are in long on eurusd?!?! if so where did u put the take profit?!?

Mtl JP 14:46 GMT March 24, 2010
EUR/USD

AS 14:39 - respectfully, that is a loco assertion.

if ONLY on the absoulute fundamental no such thing as free. ever. enywhere. anything.

Belgrade AS 14:39 GMT March 24, 2010
EUR/USD

stox going up...they got free health care...finally

bucharest vicx 14:37 GMT March 24, 2010
EUR/USD

belgrade as what is your point!?!?! what are u talking about?!?!

Belgrade AS 14:29 GMT March 24, 2010
EUR/USD

well they should! first,free schools.....now free health care.
pretty soon they will repatriate native Indians for lands they stole from them...then they'll repatriate all men from Africa they stole and traded as catle...pretty soon we;ll spell america with capital "A"!
doesn't it make you proud to be a witness of something this big?

PAR 14:29 GMT March 24, 2010
EUR/USD

Sales of New U.S. Homes Dropped to Lowest on Record

By Bob Willis

March 24 (Bloomberg) -- Sales of new homes in the U.S. unexpectedly fell in February to a record low as blizzards, unemployment and foreclosures depressed the market.

Purchases decreased 2.2 percent to an annual pace of 308.000, figures from the Commerce Department showed today in Washington. The median sales price climbed by the most in more than two years.

The new-home market is vying with foreclosure-induced declines in prices for existing homes in an economy where unemployment is forecast to average 9.6 percent this year, close to a 26-year high. Treasury Secretary Timothy F. Geithner yesterday said it would take a “long time” to repair the housing market as the administration takes steps to overhaul real-estate financing and regulation.

bucharest vicx 14:22 GMT March 24, 2010
EUR/USD

usa zeus where is your tp ?!!?

GVI Forex john 14:15 GMT March 24, 2010
GVI Forex Trading Support

Data @ 14:30 GMT
EIA- The Department of Energy (DOE survey)


EIA Survey comes out Wednesday morning. The DOE survey is more closely watched and generally seen as more accurate than the API data on Tuesday.


PAR 14:14 GMT March 24, 2010
EUR/USD

Housing sector no longer important for Us economy , Health care is now more important . Stocks will go higher .

bucharest vicx 14:09 GMT March 24, 2010
EUR/USD

its a intra day correction i think!

Belgrade AS 14:07 GMT March 24, 2010
EUR/USD

+2 was expected and -2 came.how is that gonna help eur longs?...this is more oil on risk aversion fire!

GVI Forex john 14:07 GMT March 24, 2010
GVI Forex Trading Support



Weaker than expected new homes sales...

bucharest vicx 14:02 GMT March 24, 2010
EUR/USD

us New Home Sales -2.2 % this must help hope so

Tok JT 14:01 GMT March 24, 2010
Practice Round
Reply   
Devon "XXX" James claims Tiger paid her and a friend $4,000 for a tee off...
http://www.nypost.com/p/news/national/bimbo_eruption_no_ro
cks_tamed_tiger_BncRuZRSVAb3ZhtmNhL2IJ

tokyo rana 13:59 GMT March 24, 2010
japanese yen
Reply   
Buy OTHER
Entry: Target: Stop:

idonot know why mid always yen so weak.idonot understand,any body have idea?what is reason?and any body tellme uk budget came already or not?happy trade,best regards

USA ZEUS 13:59 GMT March 24, 2010
EUR/USD

Just like clockwork...
Enjoy!

bucharest vicx 13:53 GMT March 24, 2010
EUR/USD

zeus up to 13375 -97 i think

GVI Forex Blog 13:52 GMT March 24, 2010 Reply   

Euro Plunges on Portugal Downgrade

GVI Forex Blog 13:52 GMT March 24, 2010 Reply   

Equities, Commodities at Risk after Euro Plunge

tokyo rana 13:50 GMT March 24, 2010
Trade Ideas

Sell GBPJPY
Entry: Target: Stop:

Lahore FM,you think yen come back soon?happy trade,best regards,

USA ZEUS 13:49 GMT March 24, 2010
EUR/USD

Here it comes!

Lahore FM 13:49 GMT March 24, 2010
Trade Ideas

Cheers Kevin,you right about jpy pairs.these riddling a bit alike stox.let us see about them soon!

Amman wfakhoury 13:45 GMT March 24, 2010
gbpusd 14880
Reply   
Amman wfakhoury 12:25 GMT March 24, 2010
gbpusd: Reply
is heading 14880

------.here we are...close all postions

USA ZEUS 13:42 GMT March 24, 2010
EUR/USD

Buy Buy Buy!

HK Kevin 13:37 GMT March 24, 2010
Trade Ideas

Lahore FM 12:47 GMT, well done. All pairs move as expected, except the Yen and its crosses.

georgetown 13:32 GMT March 24, 2010
house

He is the real deal. If anyone needs inspiration Mr. Beck is the true story.

USA ZEUS 13:27 GMT March 24, 2010
EUR/USD
Reply   
1.3340 is interesting. An imminent ST bounce up for EUR/USD is about to commence.
Cheers.

GVI Forex john 13:24 GMT March 24, 2010
GVI Forex Trading Support
Reply   
Data @ 14:00 GMT
New Home Sales


New Home Sales record sales of U.S. newly constructed residences. The U.S. Census Bureau publishes New Home Sales statistics monthly.

GVI Forex Jay 13:23 GMT March 24, 2010
USD/JPY

I suggest looking at this post (click on subject to see original post) and daily chart - today is a breakout day (trendline) so not sure why the rush to sell usd/jpy. With that said, 92.00 (pivotal big figure) and 982.14 are potential obstacles.

BRIS 13:20 GMT March 24, 2010
USDJPY
Reply   
Watch for the USDJPY to consolidate into a protracted wave 4 before kicking out a high to complete a wave 5 on an hourly,
the wave 4 could be very choppy so be careful.

japan 13:16 GMT March 24, 2010
USD/JPY : Current Comments

how is USDJPY can still go short?

GVI Forex Blog 13:08 GMT March 24, 2010 Reply   
Dollar-Swiss has risen sharply breaking...

FX Thoughts for the day : 24-Mar-2010 - 1230 GMT

bucharest vicx 13:04 GMT March 24, 2010
Trade Ideas

belgrade as!! any ideeas!?!?!? up or ddown right now!?

London Shaun 13:04 GMT March 24, 2010
Crude
Reply   
Sell Crude
Entry: Target: Stop:

Oil seems to be about to lose the battle that's raged all day 80.50 imho

Neuville JD 12:54 GMT March 24, 2010
usd/cad
Reply   
Sell USDCAD
Entry: 1.0230 Target: Stop:

negative reaction on an important level, stop at 1.0265, open target
GL/GT

Lahore FM 12:47 GMT March 24, 2010
Trade Ideas

Buy USDCHF
Entry: 1.0599 Target: Stop: 1.0520

03/22/2010 15:43:23 FM Lahore 24

Buy USDCHF
Entry: 1.0599 Target: 1.0900/1.1100 Stop: 1.0520
went long here.
--
clsoed half at 1.0704 now,stops to 1.0570 on remainder.

Mtl JP 12:46 GMT March 24, 2010
USD/JPY : Current Comments

Qindex 12:42 - that view further supported while priceaction above 200dma (91.54 from g-v's chart point matrix)

Lahore FM 12:45 GMT March 24, 2010
Trade Ideas

Sell Crude
Entry: 81.40 Target: Stop: 82.50

03/22/2010 17:08:43 FM Lahore 15

Sell Crude
Entry: 81.40 Target: open Stop: 82.50
sold at 81.40.may crude trade for a second ride lower.
--
clsoed half at 80..55 now,stops come down to 81.65 for remainder.

tokyo rana 12:45 GMT March 24, 2010
gbpjpy
Reply   
Sell GBPJPY
Entry: 137.050 Target: Stop:

short more gbpjpy,any view,happy trade,best regards

Lahore FM 12:43 GMT March 24, 2010
Trade Ideas

Buy USDCAD
Entry: 1.0179 Target: Stop: 1.0120

03/23/2010 16:21:02 FM Lahore 10

Buy USDCAD
Entry: 1.0179 Target: Stop: 1.0120
added scond long with separate stop,targets around 1.05.
--
closed half at 1.0245 now.stops stay as before.

Melbourne Qindex 12:42 GMT March 24, 2010
USD/JPY : Current Comments

USDJPY
Entry: Target: Stop:

USD/JPY : Bias is on upside when the market is strong enough to penetrate through 92.07

Amman wfakhoury 12:42 GMT March 24, 2010
eurusd13330
Reply   
eurusd hit the target...close the position.

Melbourne Qindex 12:41 GMT March 24, 2010
USD/JPY : Current Comments

USDJPY
Entry: Target: Stop:

Critical Range : 92.51 - 92.57

Melbourne Qindex 12:38 GMT March 24, 2010
USD/JPY : Current Comments
Reply   
USDJPY
Entry: Target: Stop:

... 91.09 - 91.19 - 91.34 // 91.34 - 91.84 // 92.84 - 92.93 ...

tokyo rana 12:38 GMT March 24, 2010
Budget 8:30

London Shaun,today uks budget is coming?any one knows?best regards,

London Shaun 12:34 GMT March 24, 2010
Budget 8:30

usually around 50 minutes - the longest was over 2hrs and the shortest under 30 mins...i think

GVI Forex john 12:34 GMT March 24, 2010
Budget 8:30

Taro not certain but most items like this have a press release that gets everything out quickly. Headlines coming now.

Tok JT 12:29 GMT March 24, 2010
down

Here we go....Short Squeeze Express bound for 92....

Montréal Taro 12:28 GMT March 24, 2010
Budget 8:30
Reply   
How long will take the announcement of the budget ?

Neuville JD 12:26 GMT March 24, 2010
gbp

I don't know about the 1.53 figure but it starts to be very hot my trading platform.

Amman wfakhoury 12:25 GMT March 24, 2010
gbpusd
Reply   
is heading 14880

bucharest vicx 12:24 GMT March 24, 2010
gbpusd

amman wafaky whats your call right now?!?!?

tokyo rana 12:21 GMT March 24, 2010
gbp

Neuville JD,you mean gbpusd go above 1.53800?ithink it will limited by1.5150 now,you have to get out from this trade most likely,happy trade,best regards

Amman wfakhoury 12:21 GMT March 24, 2010
gbpusd
Reply   
Be ready

Neuville JD 12:17 GMT March 24, 2010
gbp

even if the dollar has progressed, it's not high enough according to my system to go further up without a correction. I believe gbp/usd should flirt with the highs of last week to gather enough bears before a slump. Gbp/usd is cheap and it won't be long before I find out if it's still over valued....

GVI Forex Jay 12:16 GMT March 24, 2010
2-yr
Reply   
The 2-yr yield chart is widely watched as a guide to short-term interest rates and impacts the fx market. Click on the following link and on the page, click on the link if you want to enlarge the chart.

2-year yield chart

Tok JT 12:08 GMT March 24, 2010
down

Adding Long OzzieYen........ 84ish Tomorrow......Go Baby Go!!

bucharest vicx 12:06 GMT March 24, 2010


why so neuville?!?!?

Tok JT 12:05 GMT March 24, 2010
down

Roughly half way to 92ish....

Neuville JD 12:04 GMT March 24, 2010
gbp
Reply   
Buy GBPUSD
Entry: 1.4960 Target: open Stop: 1.4920

ALSO SHORT USD/CHF AT 1.0710 stop 25 pips

London Shaun 11:55 GMT March 24, 2010
GBP
Reply   
I don't know how anything Darling can say is going to benefit Sterling...alas. He'll bash the bankers (bad for revenue generation and the City but a vote winner). He'll predict growth for 2010/11 remains on target at 1-1.5% - whoop whoop! He'll state that borring requirements will be slightly lower than expected at 160bio (anyone who buys GBP on that stat needs to get a refund from their shrink). Just about everything else will be tax related like NI increase of 1% and booze (sob) smokes (more sob ) and a load of wishy washy ideas that wil never get passed as their gonna lose the elction anyway! That all said, I do think history will be kinder to him than we are today. He's probably the best chancellor we've had since Gordon...gawd help us.

Neuville JD 11:51 GMT March 24, 2010
$$$
Reply   
some nice opportunities ahead..

GVI Forex Blog 11:49 GMT March 24, 2010 Reply   
The euro fell to 10-month lows against the dollar on Wednesday as a ratings firm downgraded Portugal's debt and on speculation little of substance to aid debt-laden Greece would emerge in coming days.

FOREX NEWS-Euro hits 10-month low; Portugal downgrade weighs

GVI Forex john 11:42 GMT March 24, 2010
GVI Forex Trading Support

EURO FX futures-

Total Open Interest in June ended at 185,239 contracts on Tuesday, -1,199. This amounts to no change in open interest, but conceivably could represent a drop in EURUSD longs being offset by new shorts. Again this is another day that has been hard to call.

GVI Forex john 11:33 GMT March 24, 2010
GVI Forex Trading Support

Data @ 12:30 GMT
Advance Durable Goods/Factory Orders

Durable good new orders placed with domestic manufacturers for immediate and future delivery. The advance report is an early estimate of durable goods orders. Two weeks later, more complete and revised data are available in the Factory Orders report. Department of Commerce; BEA.

The report provides information on the strength of demand, from both domestic and foreign sources, for U.S. manufactured durable goods.

Porto Cubriclas 11:33 GMT March 24, 2010
Portugal

Yes. Unfortunatelly my country was downgraded.

London ex 11:30 GMT March 24, 2010
$/yen

Buy USDJPY
Entry: 90.50 Target: 93.00 Stop: 89.80

Sat through this trade too long to leave so much on the table! Have to be patient and not pay up too high to get in again. Will sit back and probably raise my entry level over time. I still feel the downside is limited.

Gen dk 11:29 GMT March 24, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

GVI Forex Blog 11:26 GMT March 24, 2010 Reply   
Great Britain traders anticipate the publication of the Retail Sales.

Forexpros Daily Analysis - 24/03/2010

bucharest vicx 11:20 GMT March 24, 2010
what now?
Reply   
GBPUSD
Entry: Target: Stop:

are we go up if touched 14968??

warsaw TOMi 11:18 GMT March 24, 2010
usdjpy

stops up to 9161
another offer short 9147-51

let'em squeeze, will get more liquidity

Tok JT 11:12 GMT March 24, 2010
down

Feel still some more room for DlrYen to go higher...
I might be wrong but I think market is not too long yet.
In fact, short term players are betting on shorts all the way up here. Might get squeezed first. 91.55/60 looks ideal to me...

tokyo tommy 11:05 GMT March 24, 2010
down
Reply   
Sell USDJPY
Entry: 91.20 Target: 90.50 Stop: 91.50

NY time, usd/jpy DOWN

warsaw TOMi 11:01 GMT March 24, 2010
usdjpy

a'la doji?

jerusalem KB 10:59 GMT March 24, 2010
SELL EURCAD

HIT 1ST 60PIPS +TARGET NOW STOP AT ENTRY

PAR 10:51 GMT March 24, 2010
Greece / Portugal - Who s next?
Reply   
Portugal’s Debt Rating Lowered by Fitch on Worsening Finances
By Matthew Brown

March 24 (Bloomberg) -- Portugal had its credit grade lowered one step to AA- by Fitch Ratings, which cited the nation’s deteriorating public finances.

The outlook on the rating remains “negative,” Fitch said in a statement today from London, meaning it’s more likely to cut the grade further than raise it or keep it unchanged.

“A sizeable fiscal shock against a backdrop of relative macroeconomic and structural weaknesses has reduced Portugal’s creditworthiness,” Douglas Renwick, associate director at Fitch, wrote in the report. “Although Portugal has not been disproportionately affected by the global downturn, prospects for economic recovery are weaker than 15 European Union peers, which will put pressure on its public finances over the medium term.”

Sutherland Michael 10:47 GMT March 24, 2010
Risk aversion Wednesday?

Opps yes, thank you. But closed at 1.022 thanks to my trailing stop, dang it. It will probably go up more but I am not betting anything on this. Today I managed to short the Euro before the major spike down and will take todays profits and leave.

New York RR 10:44 GMT March 24, 2010
Risk aversion Wednesday?

Michael do you mean Entry 1.0224? 1.04 seems a ways away?

Amman wfakhoury 10:44 GMT March 24, 2010
14950-35
Reply   
Amman wfakhoury 06:28 GMT March 24, 2010
gbpusd 14950 14935: Reply
14950 14935 levels recorded since 2 days to be touched again.
-----
touched....still awaiting target 14880.

Belgrade AS 10:38 GMT March 24, 2010
Old lady Ghawar

Belgrade AS 18:15 GMT March 23, 2010
Old lady Ghawar: Reply
i love your humor Zeus!...i'm being cinical,but here's my scenario:old lady is putting up the fight!...then,"objective" rating agencies(from u.s.) time perfectly some piggie downgrade(Portugal,for example)....then , (after NY close) pimple-faced boys and girls from the Alps start their "woooo-hooooo"
PS:the old lady will not even say "ty".
--------------------------------------
hihi...perfect timing!they are soooo predictable!

tokyo rana 10:32 GMT March 24, 2010
usdjpy

Sell OTHER
Entry: Target: Stop:

warsaw tomi thanx,at least some one with me,im so sad right now,all went against me same last week...but ihope all ok...soon yen come back,happy trade,ithink sale all yen pairs,best regards

GVI Forex Blog 10:31 GMT March 24, 2010 Reply   
Currencies: The Euro ignored better European economic data through the session and continued to post fresh 10 month lows as it approached the 1.3350 level after French and German leaders stated that any aid package for Greece would require help from the IMF thus denting confidence in the European Union.

European Market Update: Euro ignores better economic data to test 10-month lows against the dollar on possible IMF involvement for Greece; UK set to unveil its budget; Fitch cuts Portugal sovereign r

GVI Forex Jay 10:28 GMT March 24, 2010
Supports and Resistances

This is the Forex Forum. Look under Post a Message for the links to forums or use the upper menu bar by putting your mouse over forums. Also, email me about what issue you are having with the forex forum + live rates

Sutherland Michael 10:21 GMT March 24, 2010
Risk aversion Wednesday?
Reply   
Buy USDCAD
Entry: 1.0424 Target: Open Stop: 1.0180

Anyone else looking at USD/CAD? Overpriced commodity currencies look like a good selling opp vs the U.S. dollar today.

And I have a sneaking suspicion that Wall street are going to use today as a profit taking day sending stocks down significantly. Pure guess though. The holy market shall manifest what it wants to manifest, this humble trader can only go with the flow.

New York RR 10:20 GMT March 24, 2010
Supports and Resistances

will do, with corrected spelling. But I thot this was the open forum? What do have to click on on the home page to get to the open forum. I have been having some difficulty accessing the Forum +forex rates and hence clicked on Forum +FX rates

GVI Forex Jay 10:14 GMT March 24, 2010
Supports and Resistances

New York RR. Can you post that on our Open Forum where it will have a longer shelf life and better chance for an extended discussion.

London HC 10:13 GMT March 24, 2010
downgrade
Reply   
Fitch downgrades Portugal, new eur low

Melbourne Qindex 10:11 GMT March 24, 2010
USD/JPY : Current Comments
Reply   
Sell USDJPY
Entry: Target: Stop:

USD/JPY : Trading Reference



... 90 00 // 90.46* - 90.91 - 91.37* // 91.83...

New York RR 10:09 GMT March 24, 2010
Supports and Resistances
Reply   
A general question: are there any methods to be able to distinguish between a market finding support and a market breaking dowm For example, the EURUSD ws supported for a few days at the 1.35ish level. How could one tell if it would break down (as it has done) or find support and take off? The Euro broke down conclusively thru all supports today, becateh EU suggested IMF help. But could this breaing down thru support have been predicted by technicals? Ditto question for when the market is knocking at a resistance level

tokyo ginko 10:09 GMT March 24, 2010
Portugal

confirmed

London Misha 10:08 GMT March 24, 2010
Portugal
Reply   
Hearing Fitch may have downgraded Portugal

GVI Forex john 10:04 GMT March 24, 2010
GVI Forex Trading Support



German IFo better than expected

GVI Forex john 10:00 GMT March 24, 2010
GVI Forex Trading Support



Earlier EZ flash Service PMI better than expected...

GVI Forex john 09:59 GMT March 24, 2010
GVI Forex Trading Support



Earlier EZ flash MFG PMI better than expected...

GVI Forex Jay 09:54 GMT March 24, 2010
USD/JPY
Reply   


As posted on GVI Forex

GVI Forex Jay 09:44 GMT March 24, 2010
USD/JPY: Reply
As discussed this week on GVI Forex, the 20, 50 and 100 mva were clustered around 90.00 and as SFX has pointed out in the past, suggests being coiled for a move. This has seen USD/JPY break its lingering down trendline at 90.93 and if it can hold as new support, would put the 200 day mva next on the radar. Key resistance levels come in at:

91.54 = 200 day mva
92.14 = Feb 19 high
93.76 = Jan 8 (and 2010) high

On the downside, support starts at 90.93 and then 90.70-80, former resistance zone 6 out of past 7 days coming into today.

London M 09:54 GMT March 24, 2010
Market

thanks Jay

all Japanese market players are eyeing Dai-Ichi life IPO which brings Yen buying

Juffair KaL 09:52 GMT March 24, 2010
eurusd 1.27 soon
Reply   
still not done
audusd nzdusd will start drops just eurusd soon
correction in DJI soon as well

GVI Forex Blog 09:52 GMT March 24, 2010 Reply   
10:00 GMT- Mar 24 (global-view.com) Forex trading has gotten off to an active start on Wednesday as the EURUSD has broken decisively through the 1.3400 line, and reportedly taken out DNT options at 1.3400 along the way.

Daily GVI Forex Forex View- USD Spiking Higher

GVI Forex john 09:49 GMT March 24, 2010
GVI Forex Trading Support


The Daily Forex View

USD Spiking Higher 

10:00 GMT- Mar 24 (global-view.com) Forex trading has gotten off to an active start on Wednesday as the EURUSD has broken decisively through the 1.3400 line, and reportedly taken out DNT options at 1.3400 along the way. 

MORE...

warsaw TOMi 09:48 GMT March 24, 2010
usdjpy

Sell USDJPY
Entry: 9119 Target: 8707 Stop: 9141

joined rANA

London Shaun 09:40 GMT March 24, 2010
Gold and Crude
Reply   
imho both looking very soft and ready for a tumble.

Amman wfakhoury 09:33 GMT March 24, 2010
eurusd Profitmaker alert.
Reply   
Amman wfakhoury 08:26 GMT March 21, 2010
EUR/USD short term Profitmaker chart: Reply


The blue area shows the trend change area
The red area shows the downtrend area. till 13330
The green area shows the uptrend area till 13830.
when price breaks the trend change area the target will be
13330. This also confirmed by crossing Entry line and EXit line
the yellow line.
In this chart price heading twd 13330 unless breaks up the blue area.
---------
here we are in 133 area and still in strong downtrend unless it breaks 13430.

tokyo rana 09:30 GMT March 24, 2010
usdjpy
Reply   
Sell USDJPY
Entry: 91.100 Target: open Stop: open

shoort usdjpy happy trade,best regards

PAR 09:22 GMT March 24, 2010
Greece Summit
Reply   
March 24 (Bloomberg) -- The euro weakened to a 10-month low against the dollar after French and German leaders said any aid package for Greece would require help from the International Monetary Fund, denting confidence in the European Union.

The 16-nation currency also fell against the yen and the pound. The Swiss franc traded near a record high against the euro on speculation the Swiss National Bank is abandoning a policy of curbing the currency’s gains. The New Zealand dollar declined against 13 of its 16 major counterparts after the current-account deficit widened more than economists estimated. The yen dropped against all 16.

tokyo rana 09:21 GMT March 24, 2010
gbpjpy
Reply   
Sell GBPJPY
Entry: 136.500 Target: open Stop: open

short more gbpjpy,happy trade,best regards

Tokyo JT 09:20 GMT March 24, 2010
Market

Exactly what I have posted on Friday.....
New Asset allocations starts.

But according to my sources, not much on USD denominated this time, most of them are on BRICS. So all those USD bought have to be sold for hedge at some point later on! Don't get too bullish on DollarYen.

PAR 09:15 GMT March 24, 2010
CHF


Entry: PAR Target: Stop:

Imho SNB is buying USDCHF instead of EURCHF as they to are afraid of Greece impact .

GVI Forex Jay 09:12 GMT March 24, 2010
Market

London M, I posted this last night on GVI Forex:

GVI Forex Jay 23:13 GMT March 23, 2010
USD/JPY: Reply
Tuesday, March 23, 2010 7:08:55 PM
US Dollar vs Japanese Yen Japanese insurance companies increasing USD buying to invest in overseas bonds - Nikkei News
- To begin investing in foreign bonds in the coming fiscal year starting in April. (Trade the News)


London Shaun 09:10 GMT March 24, 2010
CHF
Reply   
Is anyone seeing the SNB?

Melbourne Qindex 09:10 GMT March 24, 2010
USD/JPY : Current Comments

There is still a good chance that the market will close below 90.52 in the New York session

London ex 09:07 GMT March 24, 2010
$/yen

Profits taken in $/yen long will be looking to re-enter from long side again on a pull back.

Melbourne Qindex 09:06 GMT March 24, 2010
EUR/USD : Current Comments
Reply   
Sell EURUSD
Entry: Target: Stop:

EUR/USD : Critical Support 1.3332

Syd 09:04 GMT March 24, 2010
Germany Fin Min Hints Will Agree To IMF Aid For Greece
Reply   
BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble in a
newspaper interview published Wednesday seemed to back down from his opposition to financial aid by the IMF for the ailing Eurozone member Greece. “That a currency zone solves problems in part of its currency area via the IMF can and must be only the exception,” Schaeuble told Frankfurter Allgemeine Zeitung (FAZ).

Melbourne Qindex 09:02 GMT March 24, 2010
USD/JPY : Current Comments
Reply   
Sell USDJPY
Entry: Target: Stop:

USD/JPY : the current expected trading range is 89.92 - 91.19. The odds are in favor of taking a short position when the market is rejected from the barrier at 90.90 // 90.92.

Melbourne Qindex 09:02 GMT March 24, 2010
USD/JPY : Current Comments
Reply   
Sell USDJPY
Entry: Target: Stop:

USD/JPY : the current expected trading range is 89.92 - 91.19. The odds are in favor of taking a short position when the market is rejected from the barrier at 90.90 // 90.92.

Tartu kuues 09:01 GMT March 24, 2010
EURUSD
Reply   
Only good news from euro area...

London M 08:50 GMT March 24, 2010
Market
Reply   
is this movement based on Yen selling? or USD buying?
I noticed USDYEN moving rapidly upward, then EUR/USD followed lower (USD strength)

is there any news to trigger those movements which I must have missed?
tia

ABHA FXS 08:41 GMT March 24, 2010
gbpjpy
Reply   
Sell GBPJPY
Entry: 136.40 Target: 134.99 Stop:

today will relong at 134.89-99
nice trade..

tokyo rana 08:34 GMT March 24, 2010
update

Neuville JD,your again right,your mr,right,happy trade,best regards,

tokyo rana 07:40 GMT March 24, 2010
gbpjpy
Reply   
Buy GBPJPY
Entry: 135.250 Target: open Stop: open

i set long gbpjpy @135.250 target open stop open..............i hold short @136 iwill close 135.25 with 75pips profit,any view comment welcome.happy trade,best regards,

Neuville JD 07:10 GMT March 24, 2010
update
Reply   
USDCAD
Entry: Target: Stop:

I lowered the stop of usd/cad at 1.0190 from 1.0210 and will completly exit the short (from 1.0225) in case it prints.

tokyo rana 07:05 GMT March 24, 2010
gbp/usd

hahaha yes im very sure we will see more lower level bfore trend north,your right gbpjpy gbpusd will rise again,happy trade,best regards

Neuville JD 07:02 GMT March 24, 2010
gbp/usd

"for sure"? I mark your words ;)

tokyo rana 07:01 GMT March 24, 2010
gbp/usd

Neuville JD,still go down gbpusd and gbpjpy for sure,happy trade,best regards

Neuville JD 07:00 GMT March 24, 2010
gbp/usd

hi man... I guess one of us is going to be right today!

tokyo rana 06:55 GMT March 24, 2010
gbp/usd

Sell GBPJPY
Entry: Target: Stop:

Neuville JD,im short gbpjpy from yesterday,im in profit now,ihope today get 100pipstoday,than go for long,i said gbpjpy come down.happy trade,best regards

Neuville JD 06:42 GMT March 24, 2010
gbp/usd

stop at 1.4950 actually.

Hong Kong 06:34 GMT March 24, 2010
Support, Resistance and Range forecast - AceTrader
Reply   
INTRA-DAY USD/JPY:

Last Update At 24 Mar 2010 04:13 GMT

Range Forecast
90.40 / 90.65


Resistance/Support
R: 90.63/90.81/91.09
S: 90.35/90.13/90.07

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

INTRA-DAY EUR/USD:

Last Update At 24 Mar 2010 05:34 GMT

Range Forecast
1.3405 / 1.3440


Resistance/Support
R: 1.3445/1.3485/1.3505
S: 1.3392/1.3378/1.3350

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

INTRA-DAY USD/CHF:

Last Update At 24 Mar 2010 05:37 GMT

Range Forecast
1.0600 / 1.0630


Resistance/Support
R: 1.0622/1.0640/1.0662
S: 1.0560/1.0547/1.0534

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


INTRA-DAY GBP/USD:

Last Update At 24 Mar 2010 05:56 GMT

Range Forecast
1.4930 / 1.4980


Resistance/Support
R: 1.5036/1.5088/1.5112
S: 1.4929/1.4873/1.4800

http://www.acetraderfx.com

Amman Manuk 06:31 GMT March 24, 2010
Fak for Brains
Reply   
Amman wfakhoury 06:26 GMT March 24, 2010
gbpusd Profitmaker sys alert: Reply
still in downtrend and heading twd 14880.
trend change level 15005-14995.
keeping below 14995 means 14880-14850 will be seen.
breaking 15005 means 15050 will be reach.
breaking 15050 means 15150 will be seen
Breaking the Bank account by following this clown will be seen.

jerusalem KB 06:30 GMT March 24, 2010
sell gbpusd
Reply   
Sell GBPUSD
Entry: 1.4975 Target: 1.4830 Stop: 1.5030

sold small short and will add on break of 1.4900

Amman wfakhoury 06:28 GMT March 24, 2010
gbpusd 14950 14935
Reply   
14950 14935 levels recorded since 2 days to be touched again.

Amman wfakhoury 06:26 GMT March 24, 2010
gbpusd Profitmaker sys alert
Reply   
still in downtrend and heading twd 14880.
trend change level 15005-14995.
keeping below 14995 means 14880-14850 will be seen.
breaking 15005 means 15050 will be reach.
breaking 15050 means 15150 will be seen

Neuville JD 06:26 GMT March 24, 2010
gbp/usd
Reply   
Buy GBPUSD
Entry: 1.4970 Target: 1.5110 Stop: 1.4930

a new try on an interesting point. Hopefully the market will make its mind today and move significantly (north in my case)
GL/GT

jerusalem KB 06:19 GMT March 24, 2010
SELL EURCAD
Reply   
Sell OTHER
Entry: 1.3660 Target: 1.3485 Stop: 1.3745

SOLD & will move stop loss to BE and close half if breaks 1.3600.
high risk

GVI Forex Blog 04:51 GMT March 24, 2010 Reply   

Morning Briefing : 24-Mar-2010 - 0336 GMT

Mtl JP 02:47 GMT March 24, 2010
Daily Market Outlook by AceTrader

Hong Kong 01:02 - do u think that a simple link to the rear-view mirror look into history could do ?

Hong Kong 01:02 GMT March 24, 2010
Daily Market Outlook by AceTrader
Reply   
Market Review - 23/03/2010 22:48GMT

Euro drops broadly as uncertainty over Greece continues



The single currencies weakened against most of its major counterparts on Tuesday over concerns euro zone policy-makers are unlikely to provide a rescue package for Greece at a summit later this week. Worries over Greece's ability to win financial aid to help repay debt kept the euro close to a three-week low, supporting some safe-haven flows into the U.S. dollar.

The single currency reversed Monday's rise at 1.3570 in Australia. The pair traded in a 1.3540/70 range in Asian morning as no new development about the Greek situation was heard. However, renewed selling interest emerged after the pair recovered to 1.3562 at the Asia mid-day and euro plunged to an intra-day low at 1.3475 in European mid-day on news that German Chancellor Angela Merkel’s Christian Democratic Union party said it expects her to 'resist calls to agree' to aid at this week’s European Union summit. Better-than-expected US new home sales and short-squeeze lifted the pair briefly to 1.3564 in NY mid-day but price took another dive afterwards to around 1.3482.

Similar to euro, cable reversed Monday's rise after hitting an intra-day high of 1.5112 at Asian opening as profit taking has capped cable's upside while investors were waiting for the inflation data. Later in Europe, U.K. inflation rate came in falling to 3.0% in February from 3.5% in the previous month and CBI retail sales balance dropped to 13.0 in March versus the expectation of 15.0. Weaker-than-expected inflation and retail sales data sent sterling down to an intra-day low of 1.4972 in European mid-day as these data indicated the economic recovery in UK did not look particular strong. However, renewed risk appetite triggered buying interest and the pair staged a rebound to around 1.5087 in NY mid-day before stabilizing.

The Swiss franc rose against the euro for the eighth straight day, the longest run in 17 months, on bets the Swiss central bank will allow the currency to gain as the economy improves. The eur/chf pair broke the pivot sup at 1.4300 (Oct 08') in NY morning despite SNB's hawkish comments saying that the central bank is ready to act 'decisively' against 'excessive' franc gains. The pair eventually hit its new record low at 1.4262 in NY afternoon.

Economic data to be released on Wednesday include: New Zealand current account, Japan export, import, trade balance, Germany manufacturing PMI, service PMI, Ifo index, E.U. manufacturing PMI, service PMI, industrial orders, U.K. distribution trade, U.S. durable goods , new home sales and building permits.
http://www.acetraderfx.com

Syd 00:38 GMT March 24, 2010
Skilled vacancies on the rise
Reply   
Skilled job vacancies rose 2.4 per cent in March compared to a month earlier, new data show.
The Department of Education, Employment and Workplace Relations skilled vacancies index in March was 46.7 points, 11.8 per cent higher than in March 2008.
This was the first positive annual growth reading in trend terms since February 2007.
The department's internet vacancy index rose 3.7 per cent in the month of February to 69.9 points, but was still 11.3 per cent lower than in February 2009.
AAP

Melbourne Qindex 00:27 GMT March 24, 2010
EUR/USD : Current Comments
Reply   
Sell EURUSD
Entry: Target: Stop:

EUR/USD : The current expected trading range is 1.3419 - 1.3481. As shown in the monthly cycle charts the market is under pressure when it is below 1.3453.



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

GVI Forex Blog 00:16 GMT March 24, 2010 Reply   

Stocks Soar on Optimistic News Regarding Euro

GVI Forex Blog 00:14 GMT March 24, 2010 Reply   

Euro finishes down but Off Low

tokyo rana 00:04 GMT March 24, 2010
gbpjpy
Reply   
Sell GBPJPY
Entry: 136.000 Target: open Stop: open

good morning to all,short more gbpjpy,any view,best regards

 




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