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  • #59,741
  • Jan 28, 2009 8:14am Jan 28, 2009 8:14am
[IMF FORECAST REVISIONS. PRESCRIPTIONS] The IMF is out with a fresh set of forecasts and accompanying policy prescriptions. To some extent, they read like an aggregation of policy comment from central bankers. For instance, the most likely outcome is that the global economy will avoid sustained deflation, though policy makers need to act soon to counter deflationary risks. Market strains remain elevated, though some progress has been made. It is crucial to remove toxic assets from the financial system as well as to recapitalize banks. Bank losses will amount to around $2.2 trillion and banks in the US and EU need at least half a trillion dollars to deal with writedowns this year and next. The US is likely to shrink by -1.6% this year, the EU economy by -2.0%, with global growth at 0.5% vs a prior estimate of 2.2%.
those who can, do. those who cant, talk about those who can
  • #59,742
  • Jan 28, 2009 8:19am Jan 28, 2009 8:19am
Diamond top chart pattern (HR TF). need a significant break above 1.3330 for trend continuation, otherwise ( reversal) current price good risk reward target 1.30XX.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #59,743
  • Jan 28, 2009 8:21am Jan 28, 2009 8:21am
daily pivot at 1.3280, just where we are now
Twitter: @forexpokerpro
  • #59,744
  • Jan 28, 2009 8:22am Jan 28, 2009 8:22am
[MORE ON IMF FORECAST REVISIONS] Given the gloomy view on global economy, the IMF's baseline oil price projection revised down to $50/bbl for 2009 and to $60 for 2010 from $68 and $78, respectively. They add that despite output cuts and geopolitical tensions, risks to their f/cast are on the "downside". As for metals and food prices, they have been marked down in line with recent developments


[OIL] The IMF from Davros extirminates the prospects of significantly higher oil prices by revising benchmark oil price forecasts to Usd 50 for this year, and only Usd 60 in 2010, This come against global growth slashed to 0.5% (from 2.2% in its Nov outlook), although the fund sees 3% in 2010. Advanced economies shrink by 2% (1.1% up in 2010), while emerging mkt growth shaved to 3.3% this yr.
those who can, do. those who cant, talk about those who can
  • #59,745
  • Jan 28, 2009 8:22am Jan 28, 2009 8:22am
well to much wash...so I'm off to shower and to work...good trading all
  • #59,746
  • Jan 28, 2009 8:23am Jan 28, 2009 8:23am
Perhaps one more squirt to 3310 before she heads south?
  • #59,747
  • Jan 28, 2009 8:24am Jan 28, 2009 8:24am
looking for continuation on long side. volatility is result to program trading, shake out before the move, IMO.

edit so much for that...strategy...breaking below treadline. Gah!!
  • #59,748
  • Jan 28, 2009 8:26am Jan 28, 2009 8:26am
there's something happening here....what it is, ain't exactly clear.....

Chop between S/R lines .3292 and .3278, along with some spikes outside to get the trading juices flowing. Will it, won't it, when........????
But eventually we will break out of this funk.
Be careful all!
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  • #59,749
  • Jan 28, 2009 8:29am Jan 28, 2009 8:29am
one more squirt to 3310 before she heads south
what u mean it will go down from 1.3310 is that what u men
  • #59,750
  • Jan 28, 2009 8:30am Jan 28, 2009 8:30am
Did you have a spike at 15:11 GMT to 1,3330, or it was just a S/L trap from Alpari UK?
  • #59,751
  • Jan 28, 2009 8:32am Jan 28, 2009 8:32am
Quoting BoSA
Did you have a spike at 15:11 GMT to 1,3330, or it was just a S/L trap from Alpari UK?
OANDA has the same spike
  • #59,752
  • Jan 28, 2009 8:33am Jan 28, 2009 8:33am
Quoting BoSA
Did you have a spike at 15:11 GMT to 1,3330, or it was just a S/L trap from Alpari UK?
Yes,Spiked to .3328
  • #59,753
  • Jan 28, 2009 8:34am Jan 28, 2009 8:34am
[AUD/USD] has been slowly creeping higher over the past couple of hours, with the pair managing to wipe out some Japanese and CB supply ahead of the 0.6700 level as a result. 0.6720 needs to be overcome in order to alleviate immediate bearish pressure, however with stocks looking firm ahead of the US open, any such move may not be too much of a mean feat. Local contacts are reporting very little in the way of flow and orders, meaning a more stable session could lie ahead. Note, Australian Q4 CPI was widely ignored in Asia, despite coming in -0.3% q/q & 3.7% y/y, and opening up the way for deeper RBA rate cuts ahead.
those who can, do. those who cant, talk about those who can
  • #59,754
  • Jan 28, 2009 8:40am Jan 28, 2009 8:40am
Final [JAN CPI] state read from [BADEN WUERTTEMBERG] and the most pleasing for the market with the m/m figure dropping sharply to -0.7%, from a prior 0.4%,a nd the y/y rate coming in at 1.1% against December's read of 1.4%. Smae trend as other states, heating oil p 7.5%, fuels up 3.0%, while entertainment, lodgings and clothing fall -4.6%, -4.8% and -3.3% respectively. ALl figures point to a National prelim number of -0.4% m/m and 1.0% y/y.
those who can, do. those who cant, talk about those who can
  • #59,755
  • Jan 28, 2009 8:41am Jan 28, 2009 8:41am
Quoting gatorinla
[AUD/USD] has been slowly creeping higher over the past couple of hours, with the pair managing to wipe out some Japanese and CB supply ahead of the 0.6700 level as a result. 0.6720 needs to be overcome in order to alleviate immediate bearish pressure, however with stocks looking firm ahead of the US open, any such move may not be too much of a mean feat. Local contacts are reporting very little in the way of flow and orders, meaning a more stable session could lie ahead. Note, Australian Q4 CPI was widely ignored in Asia, despite coming in -0.3%...
I ditched euro for today, catching the AUD train...I hope
  • #59,756
  • Jan 28, 2009 8:58am Jan 28, 2009 8:58am
Quoting Elghoz
why u did buy from 1.3283 why and tp at at what positin
It is very long winded to explain, I only read Price Action, no indicators involved, just pure price action.

Good Trading.
Good Trading. (keep it simple).
  • #59,757
  • Jan 28, 2009 9:03am Jan 28, 2009 9:03am
short i hope.. i posted my plan yesterday and it hasnt changed... currecy caught up mostly now..and taking direction... eg broke trend up for a few min now resuming.. eu should continue weaker... they have equalised and now resume trends..
those who can, do. those who cant, talk about those who can
  • #59,758
  • Jan 28, 2009 9:05am Jan 28, 2009 9:05am
anyone sell EURUSD?
how far it might be drop?
1.3000 isn't possible by today or 1.3100?
  • #59,759
  • Jan 28, 2009 9:08am Jan 28, 2009 9:08am
Quoting roziex
anyone sell EURUSD?
how far it might be drop?
1.3000 isn't possible by today or 1.3100?
It still needs to get below DP 3220 and stay there for me to short, but if it does, 3100 is easily achievable.
Up or down, gimme a ticket
  • #59,760
  • Jan 28, 2009 9:10am Jan 28, 2009 9:10am
oil will be the engine.. if supply increases more or less then expected will determine everything.... are you driving more or less X millions of cars.. are you buying less plastic bottles(coke/water ect.) X billions
those who can, do. those who cant, talk about those who can
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