Colo Chief1Oar 23:58 GMT September 1, 2012
The NZD Idx closed the day up +155 pips on fairly light trading as the pairs encountered resistance to lower prices for the second day from the buying zone established on June 22 and reinforced on July 25.
If price breaks below this zone, the pairs should continue down for some time. Although the NZD is receiving support from the market, the weak Chinese economy is beginning to weigh on the kiwi suggesting further downside to come. Holding existing short postions.
The NZDUSD led gains up +51 and the NZDCAD lost -1 pip on the day.
Bias is currently down.
Colo Chief1Oar 23:33 GMT September 1, 2012
AUD pairs closed Friday off -106 pips on light trading while the market concentrated on the USD & EUR pairs.
The AUDNZD closed the day -32 pips, the AUDCAD -30 with the AUDUSD gaining +38 pips as players moved money into the USD.
Price action indicates there may be a bounce upward this week, although it would probably be minimal. Weak economic data coming out of China continues to hurt the Australian economy.
Bias is currently short on all the AUD pairs
Holding existing short positions.
Colo Chief1Oar 23:25 GMT September 1, 2012
The USD Idx closed Friday off -410 pips on Bernanke's lack of direction, disappointing players. Volume was up as players took profits on the week, or just bailed on bad bets.
The GBPUSD led the drop -93 with the EURUSD next -71. Asian currencies suffered the least on the day, with the AUDUSD -39 & USDJPY -33 as players show more confidence in these pairs than in european pairs.
Currently holding short bias on USD pairs, until Draghi's speech later in the week.
GVI Forex Blog 22:55 GMT September 1, 2012
Quantitative Easing as Trickle-Down Economics
That Which Is Seen and That Which Is Not Seen
"Ultra Easy Monetary Policy and the Law of Unintended Consequences"
The Consequences of Easy Monetary Policy
Dillon AL 19:53 GMT September 1, 2012
Weekly setup videos for the EUR/USD and GBP/USD
To access the videos Click here
Mtl JP 15:55 GMT September 1, 2012
typically when "most experts" see something (or don't) ... that is when the BIG BUX are made on the other side of the statisctical distribution
dc CB 15:41 GMT September 1, 2012
Today's Mad 'Manipulated' World Of Markets
Whac-a-mole in SPY at the close on August 31, 2012. About as much trading data (quotes and trades) that would fit in 2 seconds of pipe, was blasted through the exchange networks in the last millisecond of the day. We estimate about $1 billion of SPY and 75,000 eMini contracts traded. The wild oscillations that are shown on the chart between 16:00:00 and 16:00:02 actually happened in the last millisecond of the trading session. Why the trades oscillate like that, we'll never know, but it has the strong odor of manipulation. And this event has happened before.
"How To Fit 2 Seconds Of Trading Into 1 Millisecond!"
Amman Omar 15:34 GMT September 1, 2012
well ~ i am short from 88 my dear friend ...
well , its a baby lot :) , not big one .. my stop at 1720 :) ..
but its in a lose now and hate to see red , even thou might close on zero again :) ... but did you see how it goes up from 46 to 92 ?!!!! i am afraid this can happen again on monday .. ha ha ha ... so i am just thinking loud my friend .. :)
Cambridge Joe 15:03 GMT September 1, 2012
Omar. All depends on your trading style and pocket depth !
For me being a trading minnow, I have to look for quick results.
For me, Gold is South, possibly even gap down a couple of bucks.
So, I have it selling from Mkt open and another but weaker signal (sell) from about one hour into the new session.
Amman omar 15:01 GMT September 1, 2012
i see that you were talking about past signal at August 30, 2012 !!!
But still the question .. you still believe that its long ? :)
Amman Omar 14:52 GMT September 1, 2012
Joe .. you dont feel or think that gold might do and retrace after this loooong trip up !?
maybe buying gold from here might leave us at A deserted island? , or you think more that might be the low of the coming time ? ...
Cambridge Joe 14:47 GMT September 1, 2012
ab I might be an honorary member of the GPT, but to be fair my last call was for long.
Cambridge Joe 23:13 GMT August 30, 2012
red light... green light... GO !: Reply
Back from pub now . Pretty unreliable evidence syas buy gold at 00:45. Actrualy... buy it now.. RR says do it..
Nice and lucky... eventually !
Now I have USDJPY North for one or two sessions at least.
Gold looking a little softer from mkt open but overall Northerly.
Looking for a fair North move from eurcad.
NZDUSD looking softer again, for a couple of sessions.
All IMO and just my current view. GL.
GVI Forex john bland 14:35 GMT September 1, 2012
-- GVI Forex Trading Theme of the Week--
Forex Trading Theme for the Week
This is an easy article to write as the first couple of weeks in September will be chock full of market news and events that could set the tone for the rest of the year. The calendar opens up with PMI data in the first portion of the week from just about all key economies over the globe. PMI surveys are closely watch as they tend to give an early read on the prospective strength of the economic data. By Thursday, the PMI data from all the major counties will have been released. Data generally are expected to be weak.
Then on Thursday, Australia's August employment data will be released. The U.S. and Canada will then release their employment data on Friday. So the PMI data early in the week will be followed up by hard economic data. We will have to wait until early next week to get a good handle on what is expected for these reports. ECB and BOE policy decisions are also due on Thursday. The ECB decision could be one of the major highlights of the week. A modest 25 bp cut in its Refi Rate to 0.75% is being widely discussed. There are expectations also that the ECB's bond buying program will be announced.
If that were not enough, the Federal Constitutional Court of Germany need to sign off on the constitutionality of the ESM on September 12 to make the fund operational. Most feel they will agree, but this is a source of much uncertainty and nervousness within the EZ. This could be a market-moving event.
The Bernanke speech was less of a disappointment than we had feared. He made no major announcements, but left the door ajar for a Fed easing decision on September 12-13, subject to upcoming data.
-- John M. Bland, www.global-view.com
Amman Omar 10:49 GMT September 1, 2012
do you expect any Gap when the market Open !?
The strange thing i personally have that is; my platform is open today ! so i might amend my stop lose or close my position that i am losing at gold so far- short from 1688 !!
So might this be a chance to make my stop little far , or close it with little lose i have so far !! mmmmmmmmmmm ..
hk ab 08:50 GMT September 1, 2012
KL, what's your view for the 1st week in Sept?
Seems the GPT is hiding..... (Gold Plunging Team).....
Sydney ACC 05:33 GMT September 1, 2012
Chinese Manufacturing PMI
Manufacturing activity in China rose less-than-expected last month, official data showed on Saturday.
In a report, China Logistics Information Center said that Chinese Manufacturing PMI rose to an annual rate of 49.20, from 50.10 in the preceding month.
Analysts had expected Chinese Manufacturing PMI to rise 50.00 last month.
kl shawn 03:12 GMT September 1, 2012
the idea of Eurobond does not make sense, reckless and desperate move to say the least
it may provide temporary solution but longer term it will create a much bigger problem to all
and if china decides to support that stupid idea of sharing debt, then good luck
kl fs 02:25 GMT September 1, 2012
as for euro and others, i prefer going long gbpusd with a SAR under 1.5740, target initially 1.6150
re. euro, buy on dips with SAR under 1.2420, initial target 1.28
kl fs 02:23 GMT September 1, 2012
i think you are right bali, sja.
friday's very strong close is now closing door for lower levels,
big boys know something and gold will be taken a LOT higher, xmas target 2000 should be the major theme
bali sja 00:31 GMT September 1, 2012
If you smell something is fishy with all the administration decision, then best is to buy and hold gold instead. It is why gold has gone up so much on friday and it will go up a lot more, 1800 is on the cards.
bali sja 00:02 GMT September 1, 2012
Agree with LA Tony. This is paving way for more upside for euro and stocks. Obama cannot afford stocks tanking ahead of election and euro will just need time. They will make sure the ponzi scheme keep running at all cost. EU bond will cater just that purpose.