Dealer recommendations on currency pairs? Their effect?

Word had it today that some FX dealers put a take profit recommendation on the EUR/JPY which helped to send it down and thus helping Eur/Usd and others as well to retreat. Considering that the Eur/Jpy sold off, how much do you feel that these FX dealer recommendations have an effect on the trends? I feel that this situation could be very similar to broker recommendations on stocks because when they change their ratings on stocks the value of the stocks often adjust accordingly.

If you feel that this is a factor that could be in play does anyone know of a comprehensive list of dealer recommendations available on the internet that is updated regularly?

Thanks for your input!

GirlFlyer

And I would've gotten away with it if it weren't for that meddling girl!!!


I caught 65 pips of it though I was asleep during the beginning and end of it. I missed the way back up because I was asleep

Alright, I'm surprised that there have not been any more comments regarding this matter than what there has been.

Honestly folks, does anybody see regular correlations between FX dealer recommendation changes and price movements? This kind of thing goes on regularly with the stock market and stock prices when dealers/brokers change their ratings on stocks. I would have to assume it happens with the FX market too. But is it happening in Futures, the spot market that most of us work in, or what market? I ask this because while our traditional brokers that we all work with may offer analysis and things, they don't actually offer recommendations (do they?).

Yet I imagine major financial corporations that allow their investors to work with the FX market have to offer some sort of advice similar to the buy/sell/hold/ style of the stock market.

What I'm trying to find out is if anybody knows of a database that represents the recommendations of the major players out there....

Anybody?

GirlFlyer

I can't tell you any really useful information, but dealers for retail types like us really can't make moves that big compared to the real market movers (big banks). In fact, dealers sometimes go in opposite trades to their clients - it was explained a while ago in a thread dedicated to "insider info" by one of the aussie members here on FF. We can't move the market, we can only behind it (and win) or against it (and get crushed).

This particular case was a few banks scooping Yen in Japan yesterday. Correlation != causation. My 2 cents.

Regards,
-P