Malaysia

Aouch!!! EU jump above the PIVOT.

Errr... can you read... I said Switching to SCALPING mode. T.A.Y.O.R!!!

Sorry, was going through too fast.

Phew!!! About 2 pips to SL and Fiber jump down below the Pivot again. Hehehehe....

So much play with your hearts bro!!! Go get your swim trunks!!!

The Week Ahead [From Forex.com]

Monday, May 26, 2008 - Friday, May 30, 2008


Oil continues to climb, weighing on USD
Oil prices remain in the spotlight as they continue their seemingly inexorable rise to who knows how high. Indications of a price stall last week were quickly overwhelmed by a surprisingly large crude oil inventory drawdown, according to weekly US statistics, even as indicators of gasoline and oil demand have started to decline. The spillover effects into the broader consumer-led economy are only beginning to be felt, but announcements by airlines of additional fare increases and other charges to offset higher fuel costs suggest sky-high oil prices are beginning to affect corporate profitability and will continue to reverberate through major economies. At this point, oil prices need to see back below $130 trendline support to indicate a potential top, and losses below 127.90 to signal the start of a pullback. The USD continues to be affected by oil price gains, but not to the same extent as earlier this year. Still, on the margins, higher oil adds to pressure on the USD, while a stronger USD tends to cap oil price gains.

The USD has reached a number of critical levels and is looking vulnerable as we head into the long Memorial Day weekend here in the States. On Thursday, EUR/USD exhibited signs of a rejection lower after testing briefly over 1.5800 and failing, but was back up knocking on the ceiling again on Friday. The USD index tested the bottom of the Ichimoku ‘cloud,’ a zone of significant support, and has managed to stay within the cloud as the week closes out. A daily close in EUR/USD above 1.5810/20 is likely sufficient to push the USD index out of the cloud and signal a fresh phase of USD weakness ahead, while a move below 1.5650 is needed to end the EUR’s ascent.

The fundamental backdrop has not changed significantly and one could argue that with all the bad news out there, and worse expected to come, the USD is actually holding up relatively well. In the context of a range-trading environment, this is as it should be—prices test the outer bounds of the ranges, sometimes exceeding them, only to fail and reverse back into the range. We saw this happen a few weeks ago with the failed attempt to break below EUR/USD 1.5300/40, and this week has seen the upper end of the range tested and briefly exceeded at 1.5800. This week also saw another coincident flow of data highlighting ostensible Eurozone resilience (stronger ZEW and IFO) contrasted with weaker US data (higher PPI, gloomy FOMC minutes, weaker existing home sales), providing a neat explanation for EUR/USD strength beyond oil.

Taking a second look at this week’s data, however, I can see the seeds of a reversal—Eurozone May flash PMI’s on Friday declined more than expected (PMI composite (services and manufacturing) fell from 51.9 to 51.1 vs. expected 51.5) and US data was not as weak as feared (LEI actually rose 0.1% for the second month in a row; initial jobless claims declined slightly). Additionally, EU officials (Noyer, Juncker, Almunia) spoke out against renewed FX volatility, code-speak for opposition to further EUR strength. Most importantly, the FOMC minutes and comments by Fed speakers Kohn and Kroszner confirmed the market’s view that the Fed is on hold for the next few months, removing lower US interest rates as a source of immediate USD weakness. In the big picture, the EUR has yet to significantly adjust to the unfolding economic slowdown, leaving it ripe for a setback. But looking ahead to next week’s data, there are a number of reports that could expose the USD to fresh weakness, namely housing prices, new home sales and durable goods orders. In short, we’re on the brink of the USD entering a new and largely unanticipated phase of weakness, or we’re being set up for a reversion back into recent ranges. The outlook is clouded by potential volatility surrounding the US holiday on Monday and the end of the month, a period of reduced liquidity when speculative players like to test sensitive price areas. Stay alert for technical breaks (that need to be sustained on a daily closing basis) and watch commodities (gold & oil) for signs of a reversal to see where the USD is going.


Stocks finally respond to gloomy reality
Whether its higher inflation eating into corporate profitability, slower growth eroding consumer demand, or higher energy and commodity prices squeezing margins, the outlook for stocks is on the ropes. The FOMC minutes provided a gloomy outlook for the US economy and indicated that interest rate cuts are unlikely to be available even if the US economy softens further. Stocks got the message and the selling began in earnest post-FOMC minutes. Along the way, key trendline support that guided stocks higher since mid-March was broken, bringing shares back in line with other markets’ downbeat expectations. In recent months, downdrafts in equities have usually resulted in sharp declines in USD/JPY and the JPY-crosses, but that has not materialized this time around, or at least not yet. USD/JPY remains vulnerable to further stock weakness, and a drop through the 102.20/50 area suggests fresh weakness in that pair. EUR/JPY looks set to give it up if below 161.70-162.00.

[Emphasis added]

To all members....Due to thunderstorm in Sham's place he is unable to get internet connections....He will be back after he regained the connection....
To Johnbaem,Sham can't go to swimming pool as well...'Takut kena petir'....hehehehh

erkk.. what the busy day...

to wakli... i still in GJ'S PRISON !!

I hope that prison will crach with crazy thunderstorm...

have to go... see u all another 2 hours...

happy pips dude

Chuuuuu.... Cak!!! Aaaaaaaaaa......
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Huh... this thread is dead whenever I am not around. Can't you guys be active without me?

Another FREE FALL!!! Hehehehe....

OIL, GOLD... commodiries are falling now... USD seems gaining strength.

Big event for today still about less an hour to go. Tighten your seatbelt.

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Everyone seems expecting this News to be GREEN huh My GUT FEELING also been whispering non stop to my ears about this. Anyway... the price already moving....

Placing My SL to BE...

T.A.Y.O.R.!!!
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it's mostly likely good us data.

...................100 pips wanna fly after this new home sales

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About 5 Mins to go.......

do you remember!!??!?!?!

13:54 GBP/USD: Awaiting US New Home Sales Data & Confidence Gauge

London, May 27. Fresh market-moving influence over cable may be exerted by the imminent 14:00GMT disclosure of US April new home sales, alongside May"s US consumer confidence gauge and the Richmond Fed manufacturing index. New home sales are forecast down 1.1% m/m to 520k. The confidence gauge is forecast to deteriorate to 60.0/61.0, from 62.3 in April.

GBP/USD plumbed a five-day low of 1.9715 during the European morning, after tripping sub-1.9760 sell stops following good size selling from a Swiss bank. 1.9847 was today"s early Europe intra-day high. 1.9785 (last Friday"s NY session base) is now a resistance level.

The UK"s Financial Services Authority says most firms it regulates see the need for prescriptive quantitative rules on liquidity risk management in the UK (Dow Jones). - ThomsonReuters.com

10:00am USD http://www.forexfactory.com/images/m...mpact_high.gif New Home Sales 526K 522K 509K
10:00am USD http://www.forexfactory.com/images/m...act_medium.gif Consumer Confidence 57.2 60.0 62.8
10:00am USD http://www.forexfactory.com/images/m...impact_low.gif Richmond Fed Index -3 1 0


Mixed NEWS .... Not as easy as we thought... TOUGH!!!

Hi Sham,

will you be coming to Alor Setar this week-end?

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why suddenly so silent???