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Help needed in OANDA + users from Malaysia 105 replies

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  • #17,221
  • Aug 7, 2008 4:16am Aug 7, 2008 4:16am
Bull and bear fight!! Bull does look strong. But his horn is weak by 61.8% fibo @ 1.9514. Good time to short???
  • #17,222
  • Aug 7, 2008 4:17am Aug 7, 2008 4:17am
Forgot to attach this last 2 days.

Quote
5 August 2008 Tuesday 18:42
FOMC Keeps Rates at 2.0%, But Stress Significant Upside Risks to Inflation!!!


The Federal Open Market Committee announced today their decision to key interest rates, the FOMC decided to keep interest rates steady at 2.00 percent inline with markets expectations, the Feds did however stress significant upside risks to inflation, while highlighting that downside risks to growth "remain"!

The Feds said that the economy expanded during the second quarter on strong consumer spending and exports, yet they admitted that the labor market had weakened further, alongside the ongoing stress in the financial markets, tightened credit conditions, the ongoing slump in the housing market, and rising food and energy prices are to continue be a drag on economic growth over the next few quarters!

However the Feds seems to be optimistic over the outlook for growth, noting they dropped what they previously expressed as "significant" downside risks to growth at Mr. Bernanke's testimony before the Congress!

On inflation the Feds are still describing the outlook as "highly uncertain", yet they expect inflation to moderate later this year and throughout the next year as well, yet "upside risks to inflation are also of significant concern", as energy and commodities prices continue to be elevated.

Markets were widely expecting the decision while also they were expecting a rather hawkish statement, yet they were also expecting at least two members to vote for a rate hike, however only Mr. Fished dissented from the decision and voted for a rate hike.

The U.S. dollar maintained its gains against major currencies, since seemingly the statement didn't disappoint markets' expectations though it does somehow indicate that interest rates would remain steady over the next meeting at least, yet we are still far away from that now, so let’s wait to see what would happen until then…
  • #17,223
  • Aug 7, 2008 4:21am Aug 7, 2008 4:21am
Quoting fx local
If rates stay at 5% there will be no statement as MPC only release statement if they change the rate, therefore, what will be the effect if they no nothing at 5%? will cable have a strong relief rally or will it sell further as they are behind the curve in rate cuts?? tricky one, im looking for cable to base around 1.9400 area, not bad risk reward for long, look to reverse if prior lows get taken out... wow the dollar is strong at moment(perhaps all bad US data priced in, ie UK and Euro behind the US in terms of economic situation... remains to be seen)
I guess the the Pound Sterling will have the same action like US Dollar got during FOMC Statement release.

  • #17,224
  • Aug 7, 2008 4:25am Aug 7, 2008 4:25am
Quoting Malaysia
I guess the the Pound Sterling will have the same action like US Dollar got during FOMC Statement release.

yep MPC decision could be potential non event, with the main event being ECB Trichet... im waiting on their press conference... although a rate change by MPC will be very interesting
Trading is 80% Emotional, 20% Technical
  • #17,225
  • Aug 7, 2008 4:28am Aug 7, 2008 4:28am
Quoting Malaysia
I guess the the Pound Sterling will have the same action like US Dollar got during FOMC Statement release.
Do you mean GU down?
  • #17,226
  • Aug 7, 2008 4:34am Aug 7, 2008 4:34am
Closed all my positions before the news....Just waiting in the sidelines....Not worth to have an open position during the rate decision news....Will jump in later or tomorrow.....
  • #17,227
  • Aug 7, 2008 4:40am Aug 7, 2008 4:40am
im Long if GU break 1.9540 wish me luck
  • #17,228
  • Aug 7, 2008 5:06am Aug 7, 2008 5:06am
Quoting wakli
Closed all my positions before the news....Just waiting in the sidelines....Not worth to have an open position during the rate decision news....Will jump in later or tomorrow.....
  • #17,229
  • Aug 7, 2008 5:52am Aug 7, 2008 5:52am
10 mnts to go...
jeng jeng jenggg..
  • #17,230
  • Aug 7, 2008 5:53am Aug 7, 2008 5:53am
Quoting tma_21
10 mnts to go...
jeng jeng jenggg..
assalamualaikum everyone...
  • #17,231
  • Aug 7, 2008 5:54am Aug 7, 2008 5:54am
waalaikumsalam

standby for a rollercoster ride
  • #17,232
  • Aug 7, 2008 5:55am Aug 7, 2008 5:55am
I'm on short. Hmm...
  • #17,233
  • Aug 7, 2008 5:56am Aug 7, 2008 5:56am
i already long...wish me luck
  • #17,234
  • Aug 7, 2008 5:58am Aug 7, 2008 5:58am
Quoting moewenger
I'm on short. Hmm...
with u..short..
  • #17,235
  • Aug 7, 2008 6:06am Aug 7, 2008 6:06am
no change..
stay at 5%
  • #17,236
  • Aug 7, 2008 6:07am Aug 7, 2008 6:07am
Quoting moewenger
I'm on short. Hmm...
hope we r right..
patient..
  • #17,237
  • Aug 7, 2008 6:35am Aug 7, 2008 6:35am
Quoting tma_21
with u..short..
I think TP for those who longed and it's time for us short. US session is coming soon and expecting another rally. Oil too....
  • #17,238
  • Aug 7, 2008 6:38am Aug 7, 2008 6:38am
at this time oil is going up
  • #17,239
  • Aug 7, 2008 7:05am Aug 7, 2008 7:05am
Quoting awol
at this time oil is going up
And should go down again any moment soon. US is taking over now. Wouldn't know for sure until DJI opens at 9.30pm...
  • #17,240
  • Aug 7, 2008 8:02am Aug 7, 2008 8:02am
Quoting moewenger
And should go down again any moment soon. US is taking over now. Wouldn't know for sure until DJI opens at 9.30pm...

Now i can call u Bomoh Forex..hehehe...dont be angry..just joking... i`m on my way short from1.9494....
it makes me smile right now..huhuhu.


P/S : wow...almost 100 pips moving down..please mandrem until 1.9400 ok...heheh
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