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Forex Forum Archive for 08/24/2010

Pick a date from the header above to view forum postings for that day.
Click here to join the Live Forex Forum.


Richland QC Mailman 23:46 GMT August 24, 2010
Time for the USD Revenge - Again

Central Pivots (CP's) for the day of both euro and gbp can serve as magnets today before sellers start to hammer the pairs again.

Looking once again to short as the corrective/bear wave is still unfolding for these ccy's.

Syd 23:42 GMT August 24, 2010
Early Vote Looms in Italy as Party Discord Deepens
Reply   
ROME—Early elections in Italy look increasingly likely as Prime Minister Silvio Berlusconi struggles with a worsening split in his center-right coalition.LINK

Bank Sovereign-Debt Disclosures Get Muddied
A primary goal of Europe's recent "stress" tests of its banks was to illuminate their holdings of potentially risky government-issued debt. But that clarity has been fleeting.
Regulators across the European Union conducted the stress tests of 91 banks last month, hoping to dispel investor anxiety about the health of the continent's banking system. In addition to gauging the banks' abilities to withstand an economic downturn, the tests also required banks to show the amounts of sovereign debt—debt issued by national governments—that they were holding as of March 31.
Now, some banks aren't providing updated sovereign-debt details.LINK

Germany's Deficit More Than Doubles
LINK

Richland QC Mailman 23:26 GMT August 24, 2010
BOJ Yen iNtervention - Anytime Soon?
Reply   
Folks, for those having the appetite to short usd/yen and happily doing this everyday, caveat over the next 48-72 hours as we may be caught by surprise by the BOJ. sEE report below.

LOS ANGELES (MarketWatch) -- Japan's Ministry of Finance may consider intervening in the currency markets to push down the yen without the help of other nations, according to a report Wednesday.

The ministry would seek to drive up the U.S. dollar by several yen a day, though the impact would be muted by a likely lack of cooperation by the U.S. and Europe, according to a Nikkei news report citing unnamed sources. The same report said the Bank of Japan may convene a special meeting ahead of its scheduled Sept. 6-7 policy meeting to take additional monetary easing moves. "The envisioned easing steps include expanding the BOJ's existing fund-providing tools to nudge longer-term interest rates lower, while simultaneously infusing a large amount of liquidity to curb the yen's strength," the report said, without citing sources.

Syd 23:17 GMT August 24, 2010
AUD/USD Still At Risk For Further Drops - NAB
Reply   
AUD/USD at risk for further drops after weak U.S. home sales data, S&P's cut of Ireland's sovereign credit rating weighed on cross overnight, says John Kyriakopoulos, FX strategist with National Australia Bank. "We continue to look for a further modest decline in AUD/USD to around 0.8600 over the next month or so, reflecting the RBA being on hold and uncertainty over the global economy's health. Key support is at 0.8780," writes strategist in morning note. NAB

U.S. Has `Realistic Possibility' of Stagnation, S&P's Wyss Says
“A slow recovery is a vulnerable recovery," he said. "It’s fragile. Any kind of outside shock could easily still turn this into another recession.” LINK

Ireland Has Long-Term Sovereign Credit Rating Cut by S&P
Bloomberg's Matt Miller, Dominic Chu and Julie Hyman discuss today's decision by Standard and Poor's to cut Ireland's long-term sovereign credit rating to AA- from AA. Nobel Prize-winning economist Joseph Stiglitz told Dublin-based RTE Radio in an interview broadcast today that the European economy is at risk of sliding back into a recession as governments cut spending to reduce their budget deficits.LINK

IT is by no means clear that Australia can form stable and effective government in the hung parliament. Minorities will be held to account

Richland QC Mailman 23:13 GMT August 24, 2010
Time for the USD Revenge - Again

Many Thanks FM! Just took a nap. May your longs bear good fruit too.

YVR MAXXIM 23:03 GMT August 24, 2010
Silver

? KIND A CAST CARNATION ANNE FRANK

YVR MAXXIM 22:54 GMT August 24, 2010
Silver


Entry: BOOM Target: X Stop: BUST

Savannah ZEUS 18:42 GMT August 24, 2010

Silviculture is the practice of controlling the establishment, growth, composition, health, and quality of forests to meet diverse needs and values of the many landowners, societies and cultures.

Syd 22:43 GMT August 24, 2010
Spain uses social security fund to prop up the bond market
Reply   
Spain is putting all its eggs into one basket, and if it carries on like this, we may start to see a lot of Basques and Catalans crowding into one exit.

The state pension fund – the €64bn Fondo de Reserva, known as the ‘hucha de las pensiones‘ – is buying Spanish sovereign debt at a vertiginous pace.LINK

Independents set for long haul
LINK

YVR MAXXIM 22:26 GMT August 24, 2010
My take


Entry: CHIP ON YOUR SHOULDER Target: JP Stop: MORGAN

DS what are you smokin' ?

nikola tesla

Syd 21:46 GMT August 24, 2010
fx
Reply   
Australian Dollar Initial Target is 8700
AUD/USD
Euro Target Near 12300 EURO/USD

:EUR/USD Under Pressure After Ireland Downgrade-BNZ
EUR/USD under pressure after Standard & Poor's says it downgraded Ireland's long-term sovereign credit rating to AA- from AA because of high cost to prop up that country's financial sector. Pair last 1.2624 vs 1.2665 late in New York; "It might be a bit of an over reaction as it only matches what we've seen from Moody's and Fitch," says BNZ FX Strategist Mike Jones. Tips support at around 1.2550. Says investors now largely focused on "safe-haven" currencies besides the USD "and at the moment they are buying the yen and buying the Swiss franc."

jkt-aye 21:46 GMT August 24, 2010
shall i do it again ?
Reply   
jkt-aye 09:56 GMT August 24, 2010
can't push my luck: Reply
Buy EURUSD
Entry: Target: Stop:

long @ 1.2625 for 1.2710 with sl 1.2575


Savannah ZEUS 21:30 GMT August 24, 2010
Time for the USD Revenge - Again

Richland QC Mailman 21:14 GMT August 24, 2010

Something told me that the Mailman would deliver....and he delivered- pick, roll, fade away jump shot....score!!!
Nothing but net baby!

Great trades! :-)

Chicago st 21:27 GMT August 24, 2010
USD/JPY
Reply   
Buy USDJPY
Entry: 83.70 Target: 85.00 Stop: 83.40

Have to try the intervention play. Low leverage big target.

GVI Forex Blog 21:25 GMT August 24, 2010 Reply   
Canada's dollar sank to a seven-week low against the greenback on Tuesday as data in Canada and the United States sparked concern that the economic recovery is going sour.

Forex News - CANADA FX DEBT-C$ falters on growth fears, retail data

GVI Forex Blog 21:24 GMT August 24, 2010 Reply   
Fed pessimism BoE pessimism USD/JPY crashes through support levels EUR/CHF at all-time low

Forex Market Commentary and Analysis (24 August 2010)

Lahore FM 21:22 GMT August 24, 2010
Time for the USD Revenge - Again

superb trades Mailman,cheers!!

Richland QC Mailman 21:14 GMT August 24, 2010
Time for the USD Revenge - Again

Richland QC Mailman 15:09 GMT August 24, 2010
gbp/usd - targetting 1.5400 again?: Reply
Once the gate at 1.5450 OPENS again, sellers may try to accelerate its push downwards.
----------------------------------
Ok folks, closed these gbp/usd and aussie shorts. Only one position left.

Thanks Zeus for the support and the support for that dollar revenge which has developed earlier.

Lahore FM 21:08 GMT August 24, 2010
Trade Ideas

Buy GBPUSD
Entry: 1.5409 Target: Stop: 1.5350

long now.

Lahore FM 21:05 GMT August 24, 2010
Trade Ideas

Buy AUDUSD
Entry: 0.8824 Target: 0.9200 Stop: 0.8760

long here.

Syd 21:04 GMT August 24, 2010
S&P cuts Ireland’s debt rating to AA from AA+
Reply   
S&P Lowers Ireland L-T Rtg To 'AA-'; Outlook Negative

Syd 20:58 GMT August 24, 2010
Technical Outlook - YEN
Reply   
Nicole Elliott, technical analyst at Mizuho Corporate Bank, joined CNBC for a technical look at the markets.
LINK

GVI Forex Blog 20:53 GMT August 24, 2010 Reply   
Risk assets sold. Equity markets around the globe, China excepted, were lower on economic growth concerns, although there was no single catalyst to attribute the move to.

Forex Research - Morning Report (Westpac)

sofia kaprikorn 20:41 GMT August 24, 2010
Nikkei
Reply   
Tonbridge AL

nice call on the breakdown, AL!

next stop 5500?

GVI Forex john 20:21 GMT August 24, 2010
GVI Forex Trading Support

Pivots	EUR/USD	USD/JPY	USD/CHF	GBP/USD	USD/CAD
Res 3	1.2863	86.63	1.0572	1.5644	1.0814
Res 2	1.2791	85.92	1.0512	1.5579	1.0738
Res 1	1.2732	85.04	1.0408	1.5504	1.0668
					
Pivot	1.2660	84.33	1.0348	1.5439	1.0592
					
Sup 1	1.2601	83.45	1.0244	1.5364	1.0522
Sup 2	1.2529	82.74	1.0184	1.5299	1.0446
Sup 3	1.2470	81.86	1.0080	1.5224	1.0376


Pivots	EUR/GBP	EUR/JPY	EUR/CHF	AUD/USD
Res 3	0.8308	110.28	1.3278	0.9010
Res 2	0.8264	109.07	1.3229	0.8959
Res 1	0.8237	107.87	1.3145	0.8900

Pivot	0.8193	106.66	1.3096	0.8849

Sup 1	0.8166	105.46	1.3012	0.8790
Sup 2	0.8122	104.25	1.2963	0.8739
Sup 3	0.8095	103.05	1.2879	0.8680

GVI Forex john 20:18 GMT August 24, 2010
GVI Forex Trading Support

GVI CHART POINTS
Entry: Target: Stop:



Vienna GD 20:11 GMT August 24, 2010
My take

Silver:DOW 1:1
Silver:Gold 1:1

DS what are you smokin' ?

GVI Forex Blog 20:09 GMT August 24, 2010 Reply   
20:00 GMT (Global-View.com) Aug 24, 2010 Tuesday was a difficult forex trading session. It had appeared early that the focus of the day would be on additional unwinding of short JPY positions. The early portion of the day had seen the JPY shoot higher vs. the EUR and USD today after disappointing inaction by Japanese officials on the currency.

Daily GVI Forex Forex View- JPY Issues Unresolved

BERN DS 19:56 GMT August 24, 2010
My take
Reply   
Ok just browsed through the page ... see you are speaking about silver... my take is , that only in a matter of several month we will have a 1 to 1 to 1 to 1 relationship.... it will be crazy--- black swan wise --- totally unexpected by nobody --- and will hurt most of us Gold to Silver to Dow to Oil all will be at 100 USD---- paperGold/OZ to Physical Silver per Ounce to Dow to Oil..... it will be unbelievable... hold your silver coins... the rest will be worth less... but eventually it will be 1000 for each... it does not matter- it will be a nightmare .... good luck to all here !

Savannah ZEUS 19:56 GMT August 24, 2010
eurusd

In any event, inflation, hyperinflation, stagflation, whateverflation, they won't be printing any more metal.

When there is total chaos and mayhem in the streets, I'll swap metal for real estate. This too shall pass. The day is always darkest just before the sun comes out again and the fish jump and the birds chirp.


Happy Day!

Savannah ZEUS 19:52 GMT August 24, 2010
eurusd

Tallinn viies 19:45 GMT August 24, 2010


And I would agree that deflation is more of a risk than inflation.
Inflation, however, is different than hyperinflation.
Inflation is brought about by economic activity increases. Hyperinflation is brought about by a collapse in confidence, which generally follows economic slowdown (deflationary pressures).

Savannah ZEUS 19:49 GMT August 24, 2010
eurusd

Tallinn viies 19:45 GMT August 24, 2010

Based on Ben's stance, I can only see any hint of deflation met with QE2,3,4,5,6,7... until it doesn't matter any more because the market loses all faith and confidence in USD, which brings unwinding USD based assets to the exit doors in unimaginable ways, further fueling massive hyperinflation.

Tallinn viies 19:45 GMT August 24, 2010
eurusd
Reply   
Savannah ZEUS 19:41 GMT - I do not share your view there.
deflation is name of the game SOON not inflation.
oil will fall back to 30 (maybe even this year we see 35$/b) and probably even to 10$.
all other commodities will follow. it will happen sooner than we think.

Savannah ZEUS 19:45 GMT August 24, 2010
Silver

Even uncle Warren B was right on silver.
However, his timing was off.
Hunt Bros will be old hat once silver cracks 50 then 100 then 200 then...1000

Savannah ZEUS 19:41 GMT August 24, 2010
eurusd

Will also add that price shocks for food and fuel are coming as well for the same and possibly other reasons. A perfect storm will bring the entire system to its knees.

Savannah ZEUS 19:36 GMT August 24, 2010
eurusd

Tallinn viies 19:31 GMT August 24, 2010

I see your point and agree that the smaller the market, the more it moves. $trillions of USD's will be heading for the exit doors in a panic treasury liquidation and looking for a new store of value as hyperinflation is all but certain at this point.

As for the hassle, while I don't enjoy the position the US gov't and FOMC have de facto created for USD based folks, I can see the opportunity that they have created and have position accordingly in a major major major way (to say the least).

Cheers!

GVI Forex Blog 19:34 GMT August 24, 2010 Reply   
GBP/JPY (a daily chart of which is shown) as of Tuesday (8/24/2010) has broken down cleanly below a rising wedge pattern and, in the process, several key support levels.

GBP/JPY Breaks Down Wedge, Targets Downtrend Continuation

Tallinn viies 19:31 GMT August 24, 2010
eurusd
Reply   
zeus - thnks for your answer. at least I have an idea now where people think it to move :)

Im not commodity market fan as have been in this business as a broker and as a client and I know how things work. smaller the market easier to move it. look at the crude market for example - 5% of freely traded physical oil will make price for 95% physical oil market
and smaller the market bigger the bucks for brokers and bankers ;)
too much risk for such a hazzle :)

Savannah ZEUS 19:16 GMT August 24, 2010
eurusd

Tallinn viies 19:09 GMT August 24, 2010

I think the answer is yes and have mentioned it here a few times. several 100%'s higher and gold/silver ratio going all the way back to 1.0 will not surprise me. Nor would it surprise to see gold/DJIA = 1.0.

There have been multiple instances in the past where 600 oz of silver = median home price. Something tells me that is coming again and will go even more extreme, only requiring as little as perhaps 50 oz/silver. Time horizon is within a few years max and could be right around the corner.

Happy Day!

Prague JIT 19:15 GMT August 24, 2010
Silver

If does to explode, max of xag is 19.45 for now gl

Tallinn viies 19:09 GMT August 24, 2010
eurusd
Reply   
Savannah ZEUS 19:06 GMT - so your answer is no. You do not know how much it can move up and no idea about the time horizont

Savannah ZEUS 19:06 GMT August 24, 2010
eurusd

Tallinn viies 19:01 GMT August 24, 2010

I'm referring to the price of physical silver, not how one might gear their account value. I see physical silver going to prices so high that most would think I've been sent to a padded room for further evaluation.

lkwd jj 19:04 GMT August 24, 2010
Silver

daily range has contracted alot lately. move forethcoming , direction is the question. above 1865 and away she goes. with 200ma under mkt it has been giving support. imho

PAR 19:03 GMT August 24, 2010
Silver

All time high in Silver is around $ 44 when the Hunt brothers cornered the market. ETF 's should be able to do better.

Tallinn viies 19:01 GMT August 24, 2010
eurusd
Reply   
Savannah ZEUS 18:42 GMT - can you define explosion in % term?
wondering here if one trades eurusd with 100 leverage is 1% move explosion or not

Savannah ZEUS 18:42 GMT August 24, 2010
Silver

Something tells me that silver prices are about to explode.
Please tell me I'm crazy.

Happy Day!

GVI Forex john 18:11 GMT August 24, 2010
GVI Forex Trading Support


The Daily Forex View

JPY Issues Unresolved

20:00 GMT (Global-View.com) Aug 24, 2010  Tuesday was a difficult forex trading session. It had appeared early that the focus of the day would be on additional 

MORE



GVI Forex john 18:04 GMT August 24, 2010
GVI Forex Trading Support

CALENDAR ITEM PREVIEW
Entry: Target: Stop:

Major Data Previews for Wednesday from Lloyds TSB in GVI Blog...

08:00 key indicator Germany’s Ifo survey, where we see a pull-back in the expectations component reflecting concerns about the evolution of global economic recovery. We expect the overall business climate index to soften to 105.3 from July’s 106.2.

12:30 U.S. Durable Goods- Although US durable goods orders are expected to have rebounded in July, we think by 0.5% month-on-month, recent surveys suggest underlying demand is softening.

GVI Forex john 17:56 GMT August 24, 2010
GVI Forex Trading Support

Correction to Calendar. Fed Minutes are due in one week's time not today...

Gen dk 17:39 GMT August 24, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

YVR MAXXIM 17:30 GMT August 24, 2010
no rush
Reply   


Buy GBPUSD
Entry: Target: Stop:

Independent in no rush to decide who governs‎
08/24/10,
10:15:48 GBP/USD 1 B 08/23/10,
20:46:19 1.5460 [email protected] 1.5460
08/24/10,
10:15:48 GBP/USD 1 B 08/23/10,
20:46:24 1.5460 [email protected] 1.5460
08/24/10,
10:15:48 GBP/USD 1 B 08/23/10,
21:00:24 1.5440 [email protected] 1.5460
08/24/10,
10:15:48 GBP/USD 1 B 08/23/10,
21:09:07 1.5430 [email protected] 1.5460
08/24/10,
10:15:48 GBP/USD 1 B 08/23/10,
21:19:31 1.5430 1.5460
08/24/10,
10:15:48 GBP/USD 4 B 08/23/10,
22:36:15 1.5420 [email protected] 1.5460
08/24/10,
10:15:48 GBP/USD 6 B 08/23/10,
23:00:35 1.5410 [email protected] 1.5460
08/24/10,
10:15:49 GBP/USD 10 B 08/24/10,
01:58:04 1.5400 [email protected] 1.5460

Totals for settled trades 1140

GVI Forex Jay 17:16 GMT August 24, 2010
USD/JPY

From TTN (Trade the News) - if interested in a free trial, click on Free Trials in the upper menu bar.

Tuesday, August 24, 2010 1:06:39 PM
(JP) BoJ may take action to loosen monetary policy ahead of next scheduled meeting - Nikkei News
- Depending on market conditions, the policy board may decide to take action sooner by convening an extraordinary meeting. The envisioned easing steps include expanding the BOJ's existing fund-providing tools to nudge longer-term interest rates lower, while simultaneously infusing a large amount of liquidity to curb the yen's strength.
- The BOJ is considering boosting its facility that provides three-month funding at a low 0.1% to 30 trillion yen from the current 20 trillion yen. Extending the funding period to six months would be another possibility.
- The Ministry of Finance may also consider unilateral yen-selling market interventions if speculators drive up the currency by several yen in a day

HK kevin 17:12 GMT August 24, 2010
USD/JPY

HK kevin 14:53 GMT August 24, 2010
USD/JPY: Reply
My target for today is 84.40, may be 86 level will see again over the next 2 weeks
Covered 1/3 long USD/JPY from 83.68 at 84.40.

tokyo rana 16:58 GMT August 24, 2010
jpy
Reply   
Sell GBPJPY
Entry: 130.5 Target: 120.1 Stop: later

enter small shorts...ithink cadjpy70 usdjpy 80 gbpjpy 120 eurjpy 100 nzdjpy 55 audjpy 68 here find supports maybe even tonight we see........happy trade,

Lahore FM 16:53 GMT August 24, 2010
eurusd

viies,agree there,have similar view.

Tallinn viies 16:02 GMT August 24, 2010
eurusd
Reply   
people had lot of buy stop orders today over 1,2660. could be support now but personally I think strong support at 1,2640-45. do not think euro could slip under 1,2640 in NYC time.
maybe tommorow again but I favour upside. 1,2588 will stay monthly low I think.

Lahore FM 15:43 GMT August 24, 2010
Time for the USD Revenge - Again

missed a long order fill at usdjpy else would not have been purely academic.

Lahore FM 15:42 GMT August 24, 2010
Time for the USD Revenge - Again

correction*

1.2840*/1.2900

Lahore FM 15:41 GMT August 24, 2010
Time for the USD Revenge - Again

Surabya,i am looking for 1.29840/1.2900 to close half of the higher entry.

i am mainly looking for resumption of usd selling and end of usd bullish trend for last about two weeks.

usdjpy may also rise and jpy crosses too.jpy view is purely academic. i have nothing playing in it.

Savannah ZEUS 15:41 GMT August 24, 2010
Silver

Nobody believes me but when we see $19 then hold on for some explosive action higher.

Happy Day!

Europe Theorist 15:40 GMT August 24, 2010
GBPUSD
Reply   
Buy GBPUSD
Entry: Target: Stop:


Going Long to the heavens 1.54580

Savannah ZEUS 15:39 GMT August 24, 2010
Time for the USD Revenge - Again

Hi Mailman. Just giving you a shout out and a cheer for success.
Keep on keeping on!

GLGT! :-)

Richland QC Mailman 15:38 GMT August 24, 2010
Time for the USD Revenge - Again

Hi Zeus. Not yet off the hook so far my friend. hihihi

Surabaya Medallion 15:35 GMT August 24, 2010
Time for the USD Revenge - Again

Buy EURUSD
Entry: Target: Stop:

Dear Lahore FM

So you expect Eur/usd this night will just be ranging around this 1.267x-8x right? Could I know where you plan to close the other Euro half? Thanks. :)

>>Lahore FM 15:08 GMT August 24, 2010
>>Time for the USD Revenge - Again : Reply
>>Mailman probably its not going to range much but rise after >>the corrective plunge has the lows in after a drop of about >>700 pips from recent peaks.

GVI Forex Blog 15:35 GMT August 24, 2010 Reply   
The yen continues to hit fresh multi-year highs against the USD and euro with 83.60 and 105.40 tested respectively ahead of the July existing home sales data. EUR/CHF almost took out its life-time lows of 1.3071 aided by chatter that the SNB was off-loading more of its Euros

Forex Blog - US Market Update (Trade the News)

Savannah ZEUS 15:32 GMT August 24, 2010
Silver

Interesting stealth rebound rally.

Savannah ZEUS 15:19 GMT August 24, 2010
Time for the USD Revenge - Again

Let the mailman take one to the house....all the way baby!

GVI Forex Blog 15:17 GMT August 24, 2010 Reply   
AUD/USD (a 4-hour chart of which is shown) as of Tuesday (8/24/2010) has tentatively dropped below 0.8850 support to establish a new one-month low, before correcting back up.

AUD/USD Bearish Stance within Downtrend Channel

Lahore FM 15:16 GMT August 24, 2010
Time for the USD Revenge - Again

cheers Mailman!

Richland QC Mailman 15:15 GMT August 24, 2010
Time for the USD Revenge - Again

You have always a point FM my friend. But I just got a feeling USD has the numbers today. gl gt

Savannah ZEUS 15:12 GMT August 24, 2010
Risk on/ Risk off 1.2777 Fulcrum
Reply   
"Risk on" and "Risk off" can be determined from the EUR/USD 1.27777ZEUS quadratic strange attractor fulcrumatic balance point.

Happy Day!

Richland QC Mailman 15:09 GMT August 24, 2010
gbp/usd - targetting 1.5400 again?
Reply   
Once the gate at 1.5450 OPENS again, sellers may try to accelerate its push downwards.

Lahore FM 15:08 GMT August 24, 2010
Time for the USD Revenge - Again

Mailman probably its not going to range much but rise after the corrective plunge has the lows in after a drop of about 700 pips from recent peaks.

Richland QC Mailman 15:01 GMT August 24, 2010
Time for the USD Revenge - Again
Reply   
Sell
Entry: 8850 Target: open Stop: 8870

Ok folks, time to short these pairs: aussie, gbp and euro.

Amsterdam Purk 14:59 GMT August 24, 2010
usd/jpy update
Reply   
Closing out the last 83,75 at 83,99. Will reload if seen. Have a lot more positions that can be triggered....

GVI Forex Blog 14:53 GMT August 24, 2010 Reply   
Aug 24 (global-view.com) UPCOMING DATA HIGHLIGHTS: The Far East will see the release of Japanese trade data. In Europe, the key IFO survey results are due. In North America, weekly mortgage statistics, Durable Goods Orders, New Homes Sales and weekly energy data are due. A 5-yr note auction is slated.

GVI Forex- Data Outlook for Aug 25, 2010

HK kevin 14:53 GMT August 24, 2010
USD/JPY

My target for today is 84.40, may be 86 level will see again over the next 2 weeks

GVI Forex john 14:51 GMT August 24, 2010
GVI Forex Trading Support

CALENDAR ITEM PREVIEW
Entry: Target: Stop:

Aug 24 (global-view.com) UPCOMING DATA HIGHLIGHTS: The Far East will see the release of Japanese trade data. In Europe, the key IFO survey results are due. In North America, weekly mortgage statistics, Durable Goods Orders, New Homes Sales and weekly energy data are due. A 5-yr note auction is slated.

 

 

WEDNESDAY

 

 

23:50

JA

Trade JPYb Jul

458.8

687

8:00

DE

IFO Climate Aug

105.5

106.2

8:00

DE

IFO Cond Aug

107

106.8

8:00

DE

IFO Expect Aug

104.7

105.5

11:00

US

WK Mortgage Stats

n/a

n/a

12:30

US

Dur Goods Jul

2.80%

-1.10%

14:00

US

N-Homek Jul

330

330

14:30

US

EIA Crude mn

0.8

-0.818

14:30

US

EIA Distillate mn

1

-0.039

14:30

US

EIA Gasoline mn

-0.2

1.07

14:30

US

EIA Cap Util

89.70%

90.00%

17:00

TRY

TRY 5-yr

n/a

n/a


Savannah ZEUS 14:47 GMT August 24, 2010
USD/JPY

Will we see a "VEE" shaped rebound?
Let's see...

Lahore FM 14:44 GMT August 24, 2010
Buy EURUSD

nyc s 14:16 GMT August 24, 2010
Buy EURUSD : Reply
Any idea who is buying euros?


---




Lahore FM 14:16 GMT August 24, 2010
Trade Ideas: Reply
Buy EURUSD
Entry: 1.2603 Target: Stop: 1.2603 for 1/2

douglas IOM cookie 14:44 GMT August 24, 2010
reversal
Reply   
EURUSD
Entry: Target: Stop:

price hit fib @1.2585 of 1.2151-1.3332 50% retracement strong level to watch

Gen dk 14:42 GMT August 24, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Amsterdam Purk 14:40 GMT August 24, 2010
Today I am doing this

KAL, i must say i am impressed by some of your levels and trades. Keep up the good work!

Savannah ZEUS 14:40 GMT August 24, 2010
USD/JPY

Tehran k.k 14:33 GMT August 24, 2010
k.k. - IMO it is not a good idea to attempt interpreting the news as good or bad for prices. Far too many degrees of freedom go into price discovery.
I just trade what's on the screen, flip a coin, then prepare for what the market dishes out.

GLGT! :-)

Pretoria SA EJ 14:40 GMT August 24, 2010
sell euro

I am not compalining. Was seriously in trouble with som 1.720's since Friday. Fired some more ammo now

Mtl JP 14:37 GMT August 24, 2010
sell euro

FS - do u have a stop on that trade ?

Savannah ZEUS 14:36 GMT August 24, 2010
EUR/USD
Reply   
Trading Euro is almost like stealing candy from a kid- It almost doesn't seem fair to raid the dealers of their p&l with these smooth as butter price transitions.

Happy Day!

Tehran k.k 14:33 GMT August 24, 2010
USD/JPY

Savannah ZEUS, do you have any idea why whit this bad data about home sales risk enviroment is changed even oil is going up ?

GVI Forex john 14:32 GMT August 24, 2010
sell euro

FS- see U.S. Data chart

GVI Forex john 14:11 GMT August 24, 2010
GVI Forex Trading Support: Reply

Housing data were expected to be weak, but hey were much softer than expected.

Saar KaL 14:31 GMT August 24, 2010
Today I am doing this
Reply   
gbpchf adding
Longs
at 1.5911 1.5832 1.5754

Gen dk 14:20 GMT August 24, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

KL FS 14:19 GMT August 24, 2010
sell euro
Reply   
what is going on? I was shorting from 1.2638, any opinion it will touch there again?

Tehran k.k 14:18 GMT August 24, 2010
USD/JPY

could someone tell me whay after bad data about home sales us/yen and gbp/ yen is going up actually they shold go down?

nyc s 14:16 GMT August 24, 2010
Buy EURUSD

Any idea who is buying euros?

Lahore FM 14:16 GMT August 24, 2010
Trade Ideas

Buy EURUSD
Entry: 1.2603 Target: Stop: 1.2603 for 1/2

08/24/2010 13:01:30 FM Lahore 6

Buy EURUSD
Entry: 1.2603 Target: Stop: 1.2535
bought eurusd witha stop to add to an earlier long.
--
closed half at 1.2688 now.stops raised.

Dubai SAS 14:12 GMT August 24, 2010
Buy EURUSD

Dubai SAS 07:51 GMT August 24, 2010
Buy EURUSD : Reply
Buy EURUSD
Entry: 1.2615 Target: Open Stop: 1.2560

Bot ....

Covered this @ 1.2672 for + 57 .. GL

GVI Forex john 14:11 GMT August 24, 2010
GVI Forex Trading Support



Note plunge in existing homes sales presaged by pending homes sales data (red line lagged) over past two months

Savannah ZEUS 14:11 GMT August 24, 2010
USD/JPY

83.77 is where I'm at.

HK kevin 14:10 GMT August 24, 2010
USD/JPY
Reply   
83.50 and 83.20 is buying level in my chart, 20 pips stop below that. I just long tiny position at 83.68, stop at 83.29

Savannah ZEUS 14:09 GMT August 24, 2010
USD/JPY

Time to start plowing in it seems.

Happy Day!

West Van Bing 14:05 GMT August 24, 2010
EUR1.2720
Reply   
where is wfakhoury? Need to have direction on his EUR 1.2720

Savannah ZEUS 14:03 GMT August 24, 2010
Silver

Interesting read. I agree with this author...


"...This is something hyperinflationist-skeptics never quite seem to grasp: In hyperinflation, asset prices don’t skyrocket—they collapse, both nominally and in relation to consumable commodities. A $300,000 house falls to $60,000 or less, or better yet, 50 ounces of silver—because in a hyperinflationist episode, a house is worthless, whereas 50 bits of silver can actually buy you stuff you might need..."


http://www.zerohedge.com/article/guest-post-how-hyperinflation-will-happen


Happy Day!

Savannah ZEUS 13:59 GMT August 24, 2010
Can stocks hang on in such an environment of investor and corporate caution?

Can stocks hang on?
________________________________________________________
Nope.

Savannah ZEUS 13:59 GMT August 24, 2010
Can stocks hang on in such an environment of investor and corporate caution?

Can stocks hang on?
________________________________________________________
Nope.

GVI Forex Blog 13:57 GMT August 24, 2010 Reply   
We’re entering 2008 crisis territory on 30-year bonds. Can stocks hang on in such an environment of investor and corporate caution?

Can stocks hang on?

Melbourne Qindex 13:44 GMT August 24, 2010
USD/JPY : Critical Support 83.00

Sell USDJPY
Entry: Target: Stop:

USD/JPY : Panic selling can be triggered when the market downward trending momentum is strong enough to penetrate through the barrier at 82.68 // 83.06.


Qindex.com

Richland QC Mailman 13:35 GMT August 24, 2010
USD/CAD False Break of R3 1.6036
Reply   
Sell USDCAD
Entry: 1.0630 Target: open Stop: 1.0660

Took some shorts here. Cannot resist the mountains of resistance at this level.

Richland QC Mailman 13:27 GMT August 24, 2010
Trade Ideas

Different strokes for different folks. I like euro and cable bulls to bring the price higher so that we can have the opportunity to SELL. More confidence in shorting than buying. After all, we are in a temporary bear trend (strong USD) at least for today.

London Shaun 13:22 GMT August 24, 2010
Higher highs, higher lows etc

Gold
Entry: Target: Stop:

Stopped out on long @ 1225. -$10

GVI Forex john 13:16 GMT August 24, 2010
GVI Forex Trading Support

Data @ 14:00 GMT
Existing Homes Sales
Seen sharply lower as buying incentives ran off


The most closely followed housing statistic by the markets is Existing Homes sales compiled by the NAR (National Association of Realtors). Existing-Home Sales data come out On or about the 25th of each month. The report contains statistics on sales and prices of existing single-family homes for the nation and the four regions. These figures include condos and co-ops, in addition to single-family homes.

Lahore FM 13:13 GMT August 24, 2010
Trade Ideas

Shaun you may well be right in your interpretation with yen factor.

good trades to you whichever way!

Richland QC Mailman 13:11 GMT August 24, 2010
Australia Independents' Uniform Approach Could Splinter

Richland QC Mailman 14:22 GMT August 22, 2010
Abbott, Gillard Vie for Power in Australia as Neither Leader Wins Majority: Reply
Thanks Shaun for some historical reference from the Eurozone. At least we can draw comparison from it.

On which ccy to benefit from the sell-off, just in case it happens Monday, it will be theoretical but we can see the YEN as the nearest benefactor. While there is growing clamor for taking long position above 85, we cannot discount the possibility of further yen strength towards 82.50/83 on account of risk aversion and its safe-haven appeal.
-----------------------------------
By stroke of present events, this scenario is already taking place, shaping up.

Richland QC Mailman 13:06 GMT August 24, 2010
USD/JPY Not Oversold - Mizuho

Wow. Just came home and look what we have got here. USD/YEN is falling just like there is no more tomorrow. I am sure those buying and probably accumulating this thing are scratching their heads now.

London Shaun 13:05 GMT August 24, 2010
Trade Ideas

Sell EURUSD
Entry: 1.26 Target: Stop:

Hi FM. I've been waiting for the €$ bounce all week but just don't see it happenning now with the Yen play being so one way. So adding to my short @ 1.29 here. Moved my tp down to 1.2650 and will re-enter again @ 1.27 if seen...which looks doubtful.

Lahoref FM 13:05 GMT August 24, 2010
Trade Ideas

Buy EURCAD
Entry: 1.3304 Target: Stop: raised to 1.3280 for half

08/23/2010 12:39:58 FM Lahore 4

Buy EURCAD
Entry: 1.3304 Target: Stop: 1.3180
long now.

Surabaya,yes eurusd can still make it to 1.28 and higher.
--
half closed 1.3430 for 126+,stops raised for remainder.

Melbourne Qindex 13:02 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08

GBPJPY
Entry: Target: Stop:

GBP/JPY : The next supporting range is expected at 125.07 // 126.24.

Lahore FM 13:01 GMT August 24, 2010
Trade Ideas

Buy EURUSD
Entry: 1.2603 Target: Stop: 1.2535

bought eurusd witha stop to add to an earlier long.

PAR 13:01 GMT August 24, 2010
Charts: Dow Facing 'Serious Trouble'

Yes Folks, Hindenburg Omen Tripped Again

By Steven Russolillo
The Hindenburg Omen reared its ugly head late last week, signaling more doom and gloom as stocks plod along amid the dog days of summer.

The Omen, a technical indicator which uses a plethora of data to foreshadow a stock-market crash, was tripped again on Friday, marking the second time since Aug. 12 it has occurred. (It also came close on Thursday, but one of its criteria fell short.)

The latest trigger has prompted the Omen’s creator, Jim Miekka, to exit the market. “I’m taking it seriously and I’m fully out of the market now,” Miekka, a blind mathematician, said in a telephone interview from his home in Surry, Maine. “I would’ve probably stayed in until the beginning of September,” depending on how the indicators varied. “That was my basic plan, until the Hindenburg came along.”

The Omen has been behind every market crash since 1987, but significant stock-market declines have followed only 25% of the time. So there’s a high likelihood that the Omen could be nothing more than a false signal.

But that isn’t stopping Miekka from taking any chances, especially as September, typically the market’s worst-performing month, sits only one week away.

“It’s sort of like a funnel cloud,” he said. “It doesn’t mean it’s going to crash, but it’s a high probability. You don’t get a tornado without a funnel cloud.” He added he’s not currently shorting anything, although he may look to short Nasdaq stock index futures in the next few weeks, “depending on how the technicals go.”

tallinn viies 12:58 GMT August 24, 2010
EURUSD
Reply   
1,2588 was traded, so far things moving quite as expected.
every tick lower from needs too much force.
plan to build up long euro for rebound before month end.

GVI Forex john 12:52 GMT August 24, 2010
GVI Forex Trading Support

JPY spots vs EUR and USD seem to be tracking S&P even more closely than EURUSD.

Risk trades generally are out of favor today.

Syd 12:42 GMT August 24, 2010
Charts: Dow Facing 'Serious Trouble'
Reply   
The Dow will likely slip toward 9,750 points in the coming days, but if the index breaks below 9,500 points then it is in "serious trouble," Charts: Dow Facing 'Serious Trouble'
DJ The ongoing fall in US yields means that USD/JPY is in serious trouble says Barclays Capital. The bank says when it has to resort to looking at the 10 and 20 year charts for targets the outcome is rarely positive. This time round a daily close below 84.70 implies a run toward 82.90 and then the all-time low of 79.90. BarCap

Dow Could Tumble to 5,000
If you look at the American stock market for the last 100 years…the markets appreciate in the average of 8-9 percent in the long term. The problem started in the 80s and 90s when the markets appreciate more than 8-9percent,” Charles Nenner from Charles Nenner Research told CNBC.
LINK

Amsterdam Purk 12:28 GMT August 24, 2010
USD/JPY

2 out at 90, keeping 1 for glory or not...

GVI Forex john 12:28 GMT August 24, 2010
GVI Forex Trading Support

$/yen reminds me of the 1970's and 1980's. Markets forcing the hand of the BOJ.

Amsterdam Purk 12:27 GMT August 24, 2010
USD/JPY

Well dunno, but me still buying. 83,75 3 times.

Europe Theorist 12:26 GMT August 24, 2010
USD/JPY


I agree Zeus... there are pairs that are way oversold and the correlative values must retuurn...

London Mick 12:24 GMT August 24, 2010
USD/JPY : Critical Support 83.00

BoJ where are you???????????????????????

Savannah ZEUS 12:24 GMT August 24, 2010
USD/JPY
Reply   
Something tells me this impulse wave to the downside is nearly finished.

Happy Day!

Dubai SAS 12:18 GMT August 24, 2010
Buy GBPUSD

Dubai SAS 07:52 GMT August 24, 2010
Buy GBPUSD : Reply
Buy GBPUSD
Entry: 1.5385 Target: Open Stop: 1.5345

Bot ...

out of this @ 1.5391 for + 6

London Misha 12:14 GMT August 24, 2010
Observations
Reply   
EURUSD - Three Black Crows on Daily Chart. Testing 50% Fib of May - Aug move.
USDJPY - Long Black Marubozo on the Daily Chart. New century lows!
GBPUSD - Market breaks down through the Long MA!
USDCHF - Bullish Three Inside Up on the Daily Chart.
EURGBP - Possible Bull Hammer on Daily Chart!
EURJPY - Long Black Marubozo on the Daily Chart. New low for 2010.
USDCAD - Golden Cross of the Short MA over the Medium MA.
AUDUSD - Possible Shooting Star on Daily Chart. Third close under Long MA!

GVI Forex john 11:26 GMT August 24, 2010
GVI Forex Trading Support

Data @ 12:30 GMT
Canadian Retail Sales


Retail Sales are usually a broad measure of the retail sale of consumer durable and non-durables. It is used by analysts to gauge the strength of consumer consumption.

IMPACT: In most economies, the consumer sector is the largest sector of the economy. Central banks watch retail sales to measure the strength of the economy.

GVI Forex Blog 11:11 GMT August 24, 2010 Reply   
The Core Durable Goods Orders measures the change in the total value of new orders for durable goods, excluding transportation.

Forexpros Daily Analysis - 24/08/2010

Melbourne Qindex 11:07 GMT August 24, 2010
USD/JPY : Critical Support 83.00
Reply   
Sell USDJPY
Entry: Target: Stop:

USD/JPY : Critical Support 83.00


The market has potential to tackle the barrier at 83.00 // 83.06 later in the week.


Qindex.com

GVI Forex john 11:06 GMT August 24, 2010
GVI Forex Trading Support

A couple of thoughts from our Daily forex View...


There is not much the government can do to combat the rise of the JPY in the face of real capital flows. Those funding long EUR and USD positions in JPY want to reduce their short JPY exposures and will not be deterred by forex intervention. Forex intervention is a more effective tool against speculation.

Tokyo is certainly distressed by the strength of the currency with the economy fragile. The Nikkei eased again today on the strength of the currency. Some sort of action in the JPY is probable this week, whether it will be effective remains to be seen.

The Carry Trade currencies (and risk trades) are weaker vs. the JPY and USD as well. This suggests that JPY carry trades are being unwound.


GVI Forex john 10:59 GMT August 24, 2010
LATEST PIVOT POINTS
Entry: Target: Stop:

Pivots	EUR/USD	USD/JPY	USD/CHF	GBP/USD	USD/CAD
Res 3	1.2799	86.14	1.0546	1.5710	1.0636
Res 2	1.2765	85.91	1.0477	1.5665	1.0583
Res 1	1.2715	85.55	1.0442	1.5592	1.0552
					
Pivot	1.2681	85.32	1.0373	1.5547	1.0499
					
Sup 1	1.2631	84.96	1.0338	1.5474	1.0468
Sup 2	1.2597	84.73	1.0269	1.5429	1.0415
Sup 3	1.2547	84.37	1.0234	1.5356	1.0384


Pivots	EUR/GBP	EUR/JPY	EUR/CHF	AUD/USD
Res 3	0.8217	109.79	1.3300	0.9094
Res 2	0.8199	109.35	1.3246	0.9038
Res 1	0.8178	108.62	1.3213	0.8977
		
Pivot	0.8160	108.18	1.3159	0.8921
	
Sup 1	0.8139	107.45	1.3126	0.8860
Sup 2	0.8121	107.01	1.3072	0.8804
Sup 3	0.8100	106.28	1.3039	0.8743


GVI Forex john 10:57 GMT August 24, 2010
GVI CHART POINTS
Entry: Target: Stop:



Geneva bnn 10:51 GMT August 24, 2010
EUR/USD

7 hours and a bit to go
55 pips and more to go

other than completing the move down would mean a key reversal day for various time frames.

Melbourne Qindex 10:51 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08

Sell GBPJPY
Entry: Target: Stop:

GBP/JPY : The market can easily go further down to the barrier at 125.76 // 126.49 later this week.

*******************************************

Melbourne Qindex 01:45 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08 : Reply
Sell GBPJPY
Entry: Target: Stop:

GBP/JPY : Heading Towards 130.66

Melbourne Qindex 01:42 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08 : Reply
GBPJPY
Entry: Target: Stop:

GBP/JPY : The bias is on the downside when the market is trading below the barrier at 131.47 // 132.08.


Qindex.com


Melbourne Qindex 01:31 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08 : Reply
Sell GBPJPY
Entry: Target: Stop:

GBP/JPY : Speculative selling pressure will increase when the market downward trending momentum is strong enough to penetrate through the weekly cycle pivot center at 130.66.


Qindex.com

London Shaun 10:48 GMT August 24, 2010
Tech Talk

Thanks as always Jay - ever useful and appreciated. Everyone seems to be waiting for the EurDlr to bounce so they can sell it. It's been talked of this week and all of last week. But there really hasn't been one. I understand that 1.2606 is a 50% retracement of 1.18-1.33. Might I ask your view on whether or not this is 'bounce' territory? What does EuroQueen have to say on the matter. Lahore FM - any views? Mailman? Anyone....?

Gen dk 10:38 GMT August 24, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

GVI Forex Jay 10:31 GMT August 24, 2010
Tech Talk
Reply   


I posted this on GVI Forex last night and the 1.2606 level was just tested.

GVI Forex Jay 00:34 GMT August 24, 2010
Tech talk: Reply

I posted these levels on Friday and still valid on the downside.

1.2606 = 50% of 1.1878-1.3333
1.2523 = July 13 low
1.2481 = July 6 low
1.2434 = 61.8%
1.2152 = June 29 low
1.1878 = major June 7 low

Using daily pivot levels;
1.2631 = S1
1.2597 = S2
1.2547 = S3

On the upside, 1.2647 was Monday's low so initial resistance (suggests 1.2650 will set the tone for the day). 1.2682 was the pre-NY low on Monday and a resistance during our session and still resistance. Also, 1.2681 is the daily pivot., making the 1.2680 area a key one.

1.2631 = S1
1.2597 = S2
1.2547 = S3


Saar KaL 10:27 GMT August 24, 2010
Proud of GVI Traders
Reply   
Guys
I must say...I am very proud of you guys
for a few good reasons
1) This is got the mkt where xtrem competition can only happen.
2) The hardest and most dare-est of all
3) The best equilibrium mkt where financial justice, economic one is anywhere.
it's simply fair....heheeh

jkt-aye 09:56 GMT August 24, 2010
can't push my luck

Buy EURUSD
Entry: Target: Stop:

long @ 1.2625 for 1.2710 with sl 1.2575

GVI Forex Blog 09:55 GMT August 24, 2010 Reply   
Japanese Fin Min Noda seemed to join the long chorus of Japanese officials that the chances of direct FX intervention was slim but he did up the rhetoric a bit with the term of watching the JPY with 'great interest'.

European Market Update: Markets to test Japan's resolve on the JPY currency appreciation trend; Safe-haven flows propel 10-year yields on Bunds and Gilts to record lows (Trade the News)

GVI Forex Blog 09:46 GMT August 24, 2010 Reply   
The yen struck a 15-year high against the dollar and a nine-year peak against the euro on Tuesday as investors and speculators tested the resolve of Japanese authorities to stem the yen's steady rise.

FOREX NEWS - Yen hits 15-yr high vs dlr as Japan ponders move

GVI Forex Blog 09:45 GMT August 24, 2010 Reply   
10:00 GMT (Global-View.com) Aug 24, 2010 The JPY has shot higher vs. the EUR and USD today following a disappointing press conference by Japanese Finance Minister Noda. There is not much the government can do to combat the rise of the JPY in the face of real capital flows.

Daily GVI Forex Forex View- JPY in the Spotlight

jkt-aye 09:40 GMT August 24, 2010
can't push my luck
Reply   
jkt-aye 03:09 GMT August 23, 2010
hope it works : Reply
Sell EURUSD
Entry: 1.2760 Target: 1.2700-1.2635-1.2605 Stop: 1.2795

BSB SABi KAyoo 09:40 GMT August 24, 2010
considerable volatility
Reply   
Buy EURUSD
Entry: Target: 1.2671 Stop:

EURUSD considerable volatility..

GVI Forex john 09:31 GMT August 24, 2010
DAILY FOREX VIEW
Entry: Target: Stop:


The Daily Forex View

JPY in the Spotlight

10:00 GMT (Global-View.com) Aug 24, 2010  The JPY has shot higher vs. the EUR and USD today following a disappointing press conference by 

MORE



Gen dk 09:30 GMT August 24, 2010 Reply   
Trading Signals Updated: CLICK HERE for more Gen dk information

Saar KaL 09:17 GMT August 24, 2010
doing this today

adding usdcad shorts

1.0637 1.0690 1.0742
and eurjpy
longs

106.37 105.84 105.32

Europe Theorist 09:08 GMT August 24, 2010
GBP/USD - due for bounce

Buy GBPUSD
Entry: Target: Stop:


Hi Mailman Im long this pair 1.538 level I feel its oversold and that were due for a decent bounce...

Syd 08:38 GMT August 24, 2010
Euro Crisis Isn't Over At All
Reply   
Martin Hennecke, associate director at Tyche, says there is still a chance of a break up of the European Union. He speaks to CNBC's Chloe Cho and Steve Sedgwick about why he is bearish on the euro.LINK
JPY is edging a little lower after its surge in early trading, amid unconfirmed talk that the BOJ is checking banks' yen rates a London-based trader says. There's "absolutely no confirmation of this," he adds

Syd 08:24 GMT August 24, 2010
USD/JPY Not Oversold - Mizuho
Reply   
USD/JPY just printed a fresh 15-year low of 84.58 however the rate is not oversold, says Mizuho Corporate Bank's Nicole Elliott. She notes open interest in futures is only a fraction of that seen at the peak in 2007 which suggests many have missed the trend in JPY strength. The pair is now at 84.75. Elliott says a close for the week below 85.00 would add to the current very low level of bearish pressure. She favors small shorts from 84.95, adding at 85.55 with a stop above 86.46, looking for 84.75 and then 83.50 on the downside.
Mizuho Corporate Bank's Nicole Elliott.

Saar KaL 08:16 GMT August 24, 2010
doing this today

adding longs gbpjpy

at
130.31 129.67 129.03

and Longs

USDJPY 84.24 83.82 83.41

Syd 08:15 GMT August 24, 2010
Australia Independents' Uniform Approach Could Splinter
Reply   
The non-party lawmakers who hold the key to the formation of a minority government in Australia could struggle to act as a unified bloc in negotiations, a scenario that keeps the possibility of an early return to the polls on the table.
"There's a lot of instability there," said John Wanna, a political expert at Australian National University. "It'll be a question of: "Can they hold the whole thing together?"
David Burchell, a political expert at the University of Western Sydney, said regardless of what the final outcome up is, whether all or only some of the independents are supporting a new government, a return to the polls sooner rather than later is likely. "If you were a betting person you would probably say the government is not going to last longer than 18 months," Burchell said. AAP

Amsterdam Purk 08:08 GMT August 24, 2010
usd/jpy update
Reply   
What a great day to play with longs usd/jpy and add, and thin and keep. Chances for big or lose an account. It is the same if you believe in it.
Tally ho. I am longing here at 84,38. 4 times and keeping one and playing with the others.
Cheap trick: surrender...

Richland QC Mailman 08:02 GMT August 24, 2010
GBP/USD - due for bounce

Hi Theorist. On our favorite Aussie.

On a decisive break of 8850, we can see good buying levels at 8690-710 and 8500 where a good rebound can be expected. It will be difficult at this point to pinpoint reversals - only contra-trade points. Strategy is to ride with bountiful selling opportunities especially if daily candle closes below bricks of support @8850. This is still tricky because we will never know if traders are being trapped into selling a break of 8850.

Syd 08:01 GMT August 24, 2010
EUR/USD, EUR/JPY, USD/JPY On "Cusp" Of Big Move
Reply   
With safe-haven bids supporting the USD, JPY and CHF, Credit Agricole notes that EUR/USD, EUR/JPY and USD/JPY are each on "the potential cusp of a sizeable move." The bank adds that "this triumvirate could provide the catalyst for the next leg higher in the USD and also for a heightening of JPY intervention chatter in the market."

DJ JPY Buying Picks Up Speed In EuropeEurope has jumped straight in buying JPY across the board Tuesday.
USD/CAD Rally Could Be On Its Way --Credit Agricole
We could be in for a USD/CAD rally. With the CRB index making fresh monthly lows, in what chartists call a bearish engulfing pattern, there is a good chance of a further crack lower. Also, the bank notes, Canadian retail sales due later in the day have disappointed in each of the last two months. "A hat-trick could likely see USD/CAD spike much higher," the bank adds. USD/CAD now at 1.0579. says Credit Agricole

Iran's supreme leader has taken the unprecedented step of publicly rebuking his political allies after cracks emerged between the conservative and radical fundamentalists who dominate the government. Financial Times

EUR/USD, EUR/JPY, USD/JPY On "Cusp" Of Big Move
With safe-haven bids supporting the USD, JPY and CHF, Credit Agricole notes that EUR/USD, EUR/JPY and USD/JPY are each on "the potential cusp of a sizeable move." The bank adds that "this triumvirate could provide the catalyst for the next leg higher in the USD and also for a heightening of JPY intervention chatter in the market."

Contributing to the deterioration are a disappointing performance in global stock markets, a warning by a newest member of the Bank of England monetary policy committee that there is a "significant" risk of the U.K. falling back into recession, and expectations of another sharp fall in U.S. existing home sales later in the day.

Nikkei Plunges Below 9000 As Sony, Nikon Falter On Firmer Yen

Dubai SAS 07:52 GMT August 24, 2010
Buy GBPUSD
Reply   
Buy GBPUSD
Entry: 1.5385 Target: Open Stop: 1.5345

Bot ...

Dubai SAS 07:51 GMT August 24, 2010
Buy EURUSD
Reply   
Buy EURUSD
Entry: 1.2615 Target: Open Stop: 1.2560

Bot ....

Yinzhou (China) censored 07:39 GMT August 24, 2010
risk aversion tsunami nears
Reply   
With more than 30% of Chinese housing properties build since 2005 standing empty but well sold with leveraged mortgages it is matter of not too long for extreme risk aversion wave to hit the global financial markets.

Europe Theorist 07:14 GMT August 24, 2010
GBP/USD - due for bounce

AUDUSD
Entry: Target: Stop:


Morning everyone. .../__{>_<}__../

Mailman ... whats your take on AUDUSD for the next couple of days ?


Its a great day ..
Tks

van Gecko 07:06 GMT August 24, 2010
EURJPY
Reply   
Buy EURJPY
Entry: 107 Target: 112~113 Stop: 200 pips

Europhiles & Yenophobies looking for many pips..

van Gecko 06:51 GMT August 24, 2010
GBP

Buy GBPUSD
Entry: 1.5390 Target: 1.59~1.66 Stop: 200 pips

Svejk's long marching soldiers & range players looking for multi-figure pay-days here..

Saar KaL 06:21 GMT August 24, 2010
doing this today
Reply   
hi guys
gl

Pair____ Trnd Exp(H) Exp(L)
EURUSD Buy 1.2772 1.2583
GBPUSD Hold 1.5671 1.5420
USDCHF Buy 1.0465 1.0301
USDJPY Buy 86.00 84.66
AUDUSD Hold 0.8982 0.8845
NZDUSD Buy 0.7146 0.7010
USDCAD Sell 1.0584 1.0403
GBPCAD Sell 1.6439 1.6141
EURJPY Buy 109.20 106.90
GBPJPY Buy 134.02 130.97
GBPAUD Hold 1.7543 1.7292
GBPNZD Sell 2.2140 2.1787
GBPCHF Buy 1.6224 1.5990

Estimated Error of all highs and lows is about 1.5% as Max
Short and Long at MKT with BUY or sell trend…Every other day

Richland QC Mailman 05:53 GMT August 24, 2010
GBP/USD - due for bounce

stopped out. Reverse position to sell.

Mtl JP 05:37 GMT August 24, 2010
GBP/USD - due for bounce

fwiw, courtesy
GVI Forex Jay 01:14 GMT August 24, 2010
Headlines and rumours: Reply
Monday, August 23, 2010 9:07:03 PM
(UK) BOE's newest member Weale: Sees "significant" risk of double-dip recession in UK - Times
- Says BOE's central outlook for 2011 GDP at 2.8% and 2012 at 3.2% may be too optimistic. (TTN)

tokyo rana 05:17 GMT August 24, 2010
jpy
Reply   
now from here jpy pairs can go higher...good luck,happy trade,

Richland QC Mailman 05:02 GMT August 24, 2010
GBP/USD - due for bounce
Reply   
Buy GBPUSD
Entry: 1.5430 Target: 1.5460/70 Stop: 1.5410

Launched some missles on S2. Let us see.

Syd 04:59 GMT August 24, 2010
Australia Independents' Uniform Approach Could Splinter
Reply   
The non-party lawmakers who hold the key to the formation of a minority government in Australia could struggle to act as a unified bloc in negotiations, a scenario that keeps the possibility of an early return to the polls on the table.

Differences of opinion on climate change through to banana imports will likely be exploited by the bigger parties as they begin separate negotiations to form a government, fracturing any veneer of unity.
Although the three rural-based independents share a common aspiration to boost spending on services and infrastructure in rural and regional areas, divergent attitudes to climate change, asylum seekers and the mining tax could pose an obstacle to agreeing on a joint program for aligning with either a Labor or coalition government. Antagonism towards the coalition's junior member the National Party--of which all three were once members but left in less than friendly circumstances--could also derail talks with Abbott.

"There's a lot of instability there," said John Wanna, a political expert at Australian National University. "It'll be a question of: "Can they hold the whole thing together?"
The potential for a splintering of attitudes--coupled with an uncertain final seat tally for the major parties as counting continues--could mean either Gillard or Abbott will opt to cut a deal with only some of the independents.

David Burchell, a political expert at the University of Western Sydney, said regardless of what the final outcome up is, whether all or only some of the independents are supporting a new government, a return to the polls sooner rather than later is likely.

"If you were a betting person you would probably say the government is not going to last longer than 18 months," Burchell said.

Hong Kong 04:30 GMT August 24, 2010
Support, Resistance and Range Forecast by AceTrader
Reply   
INTRA-DAY USD/JPY:

Last Update At 24 Aug 2010 04:17 GMT

Range Forecast
84.95 / 85.20


Resistance/Support
R: 85.19 / 85.42 / 85.64
S: 84.89 / 84.72 / 84.50
-----------------------
INTRA-DAY EUR/USD:

Last Update At 24 Aug 2010 04:18 GMT

Range Forecast
1.2625 / 1.2655


Resistance/Support
R: 1.2664/1.2684/1.2730
S: 1.2624/1.2605/1.2583
---------------------
INTRA-DAY USD/CHF:

Last Update At 24 Aug 2010 04:20 GMT

Range Forecast
1.0400 / 1.0430


Resistance/Support
R: 1.0443/1.0466/1.0488
S: 1.0393/1.0361/1.0340
--------------------
INTRA-DAY GBP/USD:

Last Update At 24 Aug 2010 04:21 GMT

Range Forecast
1.5415 / 1.5450


Resistance/Support
R: 1.5464/1.5500/1.5527
S: 1.5415/1.5400/1.5368

http://www.acetraderfx.com

Malaysia MY 03:50 GMT August 24, 2010

Reply   
...
Entry: Target: Stop:

Anyone know more information bout broker named censored? How reliable this company? Anybody can share about which currency giving the best interest rate? (swap most )

jc

Syd 03:24 GMT August 24, 2010
China Property Prices Raise Questions
Reply   
Given the importance of China’s property sector to the global economy, the National Bureau of Statistics revelation Monday that there were problems with real-estate price data in Shanghai were worrying. LINK

GVI Forex Blog 02:11 GMT August 24, 2010 Reply   

Greenback Gains on Low Volume; Investors Shedding Risk

Syd 02:06 GMT August 24, 2010
GBP, EUR, AUD Fall On Global Econ Growth Concerns
Reply   
GBP/USD falls to 1.5449, lowest level since July 27 as weak Japan shares weigh on investors' views on global economic outlook, also risk appetite under pressure after UK newspaper The Times quotes leading policymaker at BoE warning UK faces a "significant" risk of a renewed slide into recession, says Shinkin Asset Management senior dealer Jun Kato. Adds if Nikkei falls below psychological 9,000 level again, declines in these units likely to gather pace. GBP/USD may fall to 1.5400. AUD/JPY hits 75.34, lowest since July 20, may fall to 75.00; EUR/JPY hits 107.21, lowest level since November 2001, may fall to 106.80; USD/JPY last at 85.01, target 84.73.

Syd 01:55 GMT August 24, 2010
NZD/JPY Eyed Heading For Key 59.50 Support
Reply   
Both Crude and Gold Slip as Risk Aversion Takes up Before Selling Pressure
LINK
Australia's S&P/ASX 200 Hits 4380.1, Lowest Since July 22
BNZ FX strategist Mike Jones says cross closing in on key support level of 59.50, a July low; "a break through this level would suggest a new downtrend is in place." Says JPY gaining ground on "deafening silence" yesterday from Japan authorities despite expectations they would attempt to temper recent JPY enthusiasm. Also risk appetite under pressure after UK newspaper The Times quotes leading policymaker at BoE warning UK faces a "significant" risk of a renewed slide into recession. "It is mainly just some Asian interest to sell NZD/JPY and AUD/JPY," says Jones.

Agadir anis 01:50 GMT August 24, 2010
USDJPY

You are very welcome Yumi.

Tokyo Yumi 01:48 GMT August 24, 2010
USDJPY

Thanks for that....I was referring to real money flows within the interbank market...but as a logical guide for home traders your advice is sound.......

Melbourne Qindex 01:45 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08

Sell GBPJPY
Entry: Target: Stop:

GBP/JPY : Heading Towards 130.66

Melbourne Qindex 01:42 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08

GBPJPY
Entry: Target: Stop:

GBP/JPY : The bias is on the downside when the market is trading below the barrier at 131.47 // 132.08.


Qindex.com

Syd 01:36 GMT August 24, 2010
New 'debt boom' fears as banks offer 'more generous credit card deals'
Reply   
New 'debt boom' fears as banks offer 'more generous credit card deals'
BoA sees US double-dip danger from `fiscal chicken'
Bank of America has accused Democrats and Republicans in Congress of endangering the US economy in a game "fiscal chicken", risking grave policy error by tightening too early. LINK

US DOLLAR INDEX – Prices continue to push up against resistance at 83.37, the 38.2% Fibonacci retracement of the 6/7-8/6 downswing. From here, a break higher will see the bulls challenge resistance at the 50% Fib (84.40). The 23.6% level at 82.12 marks near-term support. LINK

Melbourne Qindex 01:31 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08

Sell GBPJPY
Entry: Target: Stop:

GBP/JPY : Speculative selling pressure will increase when the market downward trending momentum is strong enough to penetrate through the weekly cycle pivot center at 130.66.


Qindex.com

Melbourne Qindex 01:23 GMT August 24, 2010
GBP/JPY : Critical Resistance at 132.08
Reply   
Sell GBPJPY
Entry: Target: Stop:

GBP/JPY : Critical Resistance at 132.08


132.08 is a significant level and the market may hit the daily high already in the Asian Session.



Qindex.com

agadir anis 01:23 GMT August 24, 2010
USDJPY

If the market fails to bounce at 81.50 (chfjpy) then it is doom and gloom (risk aversion will accelerate pace) and jpy will continue to strenghten

Syd 01:22 GMT August 24, 2010
BoE Policymaker Says UK Risks New Recession -
Reply   
The U.K. faces a "significant" risk of a renewed slide into recession, a leading policymaker at the Bank of England warned, U.K. newspaper The Times reported Tuesday.
Among the dangers ahead are a renewed surge in unemployment, further declines in house prices and a new banking crisis, said Weale, one of the U.K.'s most respected economists .

AGADIR anis 01:16 GMT August 24, 2010
USDJPY

Dear rana,
As I said, you need to be careful at present level chfjpy is down; any retracement up will send cadjpy higher. Best thing to do is to pounce a buy signal on usdcad then you can go short cadjpy because usdcad and cadjpy trade inversly.

Richland QC Mailman 01:14 GMT August 24, 2010
Aussie Rejected by 8980 falling TL Resistance

Hi JP, good morning trading pal. Longs on buying usd and selling aussies. Sorry, forgot the right order, should have been SHORT aud/usd. Thanks

tokyo rana 01:13 GMT August 24, 2010
USDJPY

agadir Anis 01:06 GMT August 24, 2010
dear friend,tellme about this long entry 80.685 target 81.285 stop 20pips...than short cadjpy entry 81.285 target 80.20 stop 81.885...than long gbpjpy 130.85 target 139.35 stop 129.85....advice me....happy trade,

agadir Anis 01:06 GMT August 24, 2010
USDJPY

Yumi,
Here is another example: As long as AUDUSD is not able to break higher then eurusd and gbpusd will be pressured to the downside. why because :
eurusd= audusd*euraud
gbpusd= audusd*gbpaud

it does not take genius to figure it out and as long as AUDusd remains pressured then eurusd and gbpusd shall follow suit.

tokyo rana 00:54 GMT August 24, 2010
jpy
Reply   
Buy OTHER
Entry: 80.685cadjpy Target: 50/60pips Stop: 20pips

bought little..now long than short and than again long europe session...happy trade,

Syd 00:52 GMT August 24, 2010
Real Money Selling EUR/USD From 1.2650 -Dealer
Reply   
Real money selling good amounts of EUR/USD this morning from above 1.2650, driving pair as low as 1.2624, says Singapore-based dealer.

agadir anis 00:47 GMT August 24, 2010
USDJPY

sorry, I meant I am not here to pretend that I know. No one knows but that can help me remove confusion.

tokyo Mush 00:46 GMT August 24, 2010
USDJPY

Buy USDJPY
Entry: 84.84 Target: 85.80 Stop: 84.70

happy trades gl

AGADIR ANIS 00:45 GMT August 24, 2010
USDJPY

Yes, you can track interbank activity. For example: if market is to send usdjpy higher, what do you think is possible scenarios. a rally in chfjpy first sends usdjpy higher. usdchf can remain dormant. by examining moves on these two constitutent pairs, you get a feel for what interbank is trying to accomplish on a pair. I learned that by observation. I am here to tell you that I know, rather that gives me a view of what is to happen most likely. Hope I answered your question.

Tokyo Yumi 00:30 GMT August 24, 2010
USDJPY

Answer specifically how you are able to track Interbank activity and careful how you answer this question because it is coming from someone who does have knowledge about this specific topic.....

RIYADH RUH-DMM-RUH 00:12 GMT August 24, 2010
EURUSD WILL RISE UP
Reply   
Buy EURUSD
Entry: Target: Stop:

The euro will rise to these goals 1.2725/1.2765/1.2794/1.2828
Last price 1.2630
BUY @1.2630/1.2585

Geneva bnn 00:00 GMT August 24, 2010
EUR/USD
Reply   
deals under 1.2550 will get executed during the next 18 hours.

 




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