Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #196,821
- Sep 11, 2009 11:04am Sep 11, 2009 11:04am
- | Joined Apr 2008 | Status: J16 Turtle | 1,572 Posts
- #196,824
- Sep 11, 2009 11:07am Sep 11, 2009 11:07am
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #196,825
- Sep 11, 2009 11:10am Sep 11, 2009 11:10am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Malcolm/MSNiper - Please could you give us your expert eye on GU.
Thanks
gu top of channel , and untill that channel is broken seems to be buy dips.
Mrsnipers called this one really well.
If we get a retracement and 1.,6500 holds the next drive could take iut up thru 1.6700 into 1`.7000 test
Elliot wave on daily says we are in wave 5 and this could end at 1.7500. This is yet to be seen
The dialy is going to end on doji right under the 61.8 , so we should get some form of retracement. As i said test 1.6500 / 1.6400 will detemrine if up trend is going to continue or not
Blogging daily now at www.volume.zone
- #196,826
- Sep 11, 2009 11:16am Sep 11, 2009 11:16am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #196,827
- Sep 11, 2009 11:16am Sep 11, 2009 11:16am
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #196,828
- Sep 11, 2009 11:22am Sep 11, 2009 11:22am
looks like trading week has ended. here is my analysis for g-j, starting with weekly chart (well i also posted a monthly chart, for orientation...).
- next important level to watch is 149 area, on weekly. if we break below, then 139 is next, to challenge monthly support.
- daily chart is still bearish, as price is below PVP for the current swing (155 area).
- h4 and h1 are very similar now, so i am only showing h1. PVP is at 151.60 area, which is above current price. again, bearish.
what does this mean? it means that short term bias is...
- #196,831
- Sep 11, 2009 11:34am Sep 11, 2009 11:34am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Good Plan setup..
looks like trading week has ended. here is my analysis for g-j, starting with weekly chart (well i also posted a monthly chart, for orientation...).
- next important level to watch is 149 area, on weekly. if we break below, then 139 is next, to challenge monthly support.
- daily chart is still bearish, as price is below PVP for the current swing (155 area).
- h4 and h1 are very similar now, so i am only showing h1. PVP is at 151.60 area, which is above current price. again, bearish.
what does this mean? it means that short term bias...
[
- #196,832
- Sep 11, 2009 11:36am Sep 11, 2009 11:36am
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #196,834
- Sep 11, 2009 11:48am Sep 11, 2009 11:48am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #196,836
- Sep 11, 2009 11:55am Sep 11, 2009 11:55am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
And What They're Doing about It
by Mike Larson
It really boils down to a few simple points:
First, the U.S. government has adopted an unofficial policy of U.S. dollar debasement or, at best, an official policy of not-so-benign neglect.
Second, despite a U.S. federal deficit that's at least three times larger than the worst in history, there's no plan to bring it under control.
Third, the U.S. Federal Reserve is monetizing the debt with printed money, a classic cause of rising gold, rising commodity prices, and a declining currency.
Concern is rising sharply in places like China, and for good reason. The country has a $2 trillion-plus hoard of reserves. Experts believe that portfolio is overly concentrated in dollar assets — to the tune of roughly 75 percent. The problem? If the dollar keeps tanking, the value of those Treasuries, corporate bonds, equities, and other holdings will decline.
Cheng Siwei, former chairman of China's Standing Committee, warns about the dollar's inevitable hard landing.
Cheng Siwei, the former vice chairman of China's Standing Committee, warned in the London Telegraph newspaper that concern is rising, and rising fast. He said:
"If [the Fed] keeps printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in U.S. bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies."
No less an authority than the United Nations also said that dollar risk is on the rise. The UN's Conference on Trade and Development said in a report this week that a new supra-national currency may be needed to reduce countries' dependence on the slumping dollar.
Think this is all talk? Think again! China's Ministry of Finance just announced that it would sell 6 billion yuan worth of government bonds in Hong Kong soon. That's less than $900 million at current exchange rates, a pittance compared to the $100 billion-plus in U.S. Treasury debt that we're selling every few weeks. But it's noteworthy because this is the first issue of Chinese government debt targeted at global investors. The idea is to increase international confidence in China's currency and China's bond market.
Market Impact Already Being Felt —
I don't know if you saw what happened to the U.S. dollar this week, but I sure sat up and took notice. The broad-based Dollar Index tanked through key technical support on Tuesday. The buck is now trading at its worst level against the euro since December, and its worst level against the Australian dollar in more than a year.
The U.S. dollar is now trading at its worst level against the euro since December.
Then there's gold. As Claus told you on Wednesday, the yellow metal rocketed higher in recent trading, breaching the $1,000-an-ounce mark before taking a breather. There is NO better sign that investors are losing confidence in the dollar and the ability and willingness of the Fed to do anything about it.
Gold fever
by Mike Larson
It really boils down to a few simple points:
First, the U.S. government has adopted an unofficial policy of U.S. dollar debasement or, at best, an official policy of not-so-benign neglect.
Second, despite a U.S. federal deficit that's at least three times larger than the worst in history, there's no plan to bring it under control.
Third, the U.S. Federal Reserve is monetizing the debt with printed money, a classic cause of rising gold, rising commodity prices, and a declining currency.
Concern is rising sharply in places like China, and for good reason. The country has a $2 trillion-plus hoard of reserves. Experts believe that portfolio is overly concentrated in dollar assets — to the tune of roughly 75 percent. The problem? If the dollar keeps tanking, the value of those Treasuries, corporate bonds, equities, and other holdings will decline.
Cheng Siwei, former chairman of China's Standing Committee, warns about the dollar's inevitable hard landing.
Cheng Siwei, the former vice chairman of China's Standing Committee, warned in the London Telegraph newspaper that concern is rising, and rising fast. He said:
"If [the Fed] keeps printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in U.S. bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies."
No less an authority than the United Nations also said that dollar risk is on the rise. The UN's Conference on Trade and Development said in a report this week that a new supra-national currency may be needed to reduce countries' dependence on the slumping dollar.
Think this is all talk? Think again! China's Ministry of Finance just announced that it would sell 6 billion yuan worth of government bonds in Hong Kong soon. That's less than $900 million at current exchange rates, a pittance compared to the $100 billion-plus in U.S. Treasury debt that we're selling every few weeks. But it's noteworthy because this is the first issue of Chinese government debt targeted at global investors. The idea is to increase international confidence in China's currency and China's bond market.
Market Impact Already Being Felt —
I don't know if you saw what happened to the U.S. dollar this week, but I sure sat up and took notice. The broad-based Dollar Index tanked through key technical support on Tuesday. The buck is now trading at its worst level against the euro since December, and its worst level against the Australian dollar in more than a year.
The U.S. dollar is now trading at its worst level against the euro since December.
Then there's gold. As Claus told you on Wednesday, the yellow metal rocketed higher in recent trading, breaching the $1,000-an-ounce mark before taking a breather. There is NO better sign that investors are losing confidence in the dollar and the ability and willingness of the Fed to do anything about it.
Gold fever
[
- #196,838
- Sep 11, 2009 12:06pm Sep 11, 2009 12:06pm
- Joined May 2009 | Status: Trader | 4,895 Posts
looks like trading week has ended. here is my analysis for g-j, starting with weekly chart (well i also posted a monthly chart, for orientation...).
- next important level to watch is 149 area, on weekly. if we break below, then 139 is next, to challenge monthly support.
- daily chart is still bearish, as price is below PVP for the current swing (155 area).
- h4 and h1 are very similar now, so i am only showing h1. PVP is at 151.60 area, which is above current price. again, bearish.
what does this mean? it means that short term bias is bearish,...
- #196,840
- Sep 11, 2009 12:16pm Sep 11, 2009 12:16pm
- Joined May 2009 | Status: Trader | 4,895 Posts
that is why i am donfriday i pay all workers every friday...