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  • #261,341
  • Jun 21, 2010 8:57pm Jun 21, 2010 8:57pm
working on the 1.6 numbers i have several charts that over lap. one target .858 this one supports a target of .77
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those who can, do. those who cant, talk about those who can
  • #261,342
  • Jun 21, 2010 8:57pm Jun 21, 2010 8:57pm
From what i see, china appreciating its own currency, benefits the Chinese and US economy most. It would adversely effect Japanese, Korean and EU economy.
  • #261,343
  • Jun 21, 2010 8:58pm Jun 21, 2010 8:58pm
Quoting Jay Walker
I was offered a turn and burn in some bar once. Tastes so nice you feel it twice.
was it the wicker one?
those who can, do. those who cant, talk about those who can
  • #261,344
  • Jun 21, 2010 8:59pm Jun 21, 2010 8:59pm
Quoting gatorinla
was it the wicker one?
The bar was made out of wicker. How did you know!
Not all sins are created equal
  • #261,345
  • Jun 21, 2010 9:04pm Jun 21, 2010 9:04pm
Quoting gatorinla
working on the 1.6 numbers i have several charts that over lap. one target .858 this one supports a target of .77
To me that chart might support 0.6500
  • #261,346
  • Jun 21, 2010 9:06pm Jun 21, 2010 9:06pm
Pretty cool site.

http://finviz.com/
  • #261,347
  • Jun 21, 2010 9:08pm Jun 21, 2010 9:08pm
Quoting Jay Walker
The bar was made out of wicker. How did you know!
lucky guess
those who can, do. those who cant, talk about those who can
  • #261,348
  • Jun 21, 2010 9:09pm Jun 21, 2010 9:09pm
Quoting 2+2=4ex
To me that chart might support 0.6500
i got others. i just use the ones it tends to follow the path.
those who can, do. those who cant, talk about those who can
  • #261,349
  • Jun 21, 2010 9:10pm Jun 21, 2010 9:10pm
EUR/USD Falls Sharply AS USD/CNY Rises - Dealer

0159 GMT [Dow Jones] EUR/USD falls sharply to 1.2299 from 1.2340 as Asian short-term investors rapidly unwinding EUR-long positions as USD/CNY now rising slightly despite PBOC setting USD/CNY central parity lower vs Monday's fixing, suggesting "some big players are bidding in order to prevent sharp gains in the yuan," says senior dealer at major bank in Tokyo. Pair last at 1.2316; further direction depends on CNY moves today, dealer says.

(takashi.mochizuki)

June 21, 2010 21:59 ET (01:59 GMT)
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #261,350
  • Jun 21, 2010 9:11pm Jun 21, 2010 9:11pm
4h 50ema and middle BB (42,2) currently lurking a'rd 2280/82ish, same as one of my quarter pivots and the xx80 psych level

That could be an ornery level to break. On the other Hand.... if it do, and with any vigor, then look out below.

Yowzaaa...!!
FUBAR...
  • #261,351
  • Jun 21, 2010 9:11pm Jun 21, 2010 9:11pm
Quoting Purple
From what i see, china appreciating its own currency, benefits the Chinese and US economy most. It would adversely effect Japanese, Korean and EU economy.
Could someone explain to an idiot like me, why this is the case for China and US? Doesn't China rely on its exports and the US just imports like crazy, so wouldn't China appreciating their currency mean that it would cost more for the US to buy the Chinese's Goods? I didn't study Economics for college so I don't know a more in-depth analysis of this stuff, but this point just keeps coming to mind.. Always learning.
  • #261,352
  • Jun 21, 2010 9:11pm Jun 21, 2010 9:11pm
0208 GMT [Dow Jones] USD/CNY rises despite sharply lower central parity after wave of USD buying by Chinese banks on opening, traders say. In OTC, USD/CNY at 6.8142 vs 6.7976, modern era closing low. USD/CNY central parity set at 6.7980 vs 6.8275 yesterday. "We saw 2 large state-owned banks buying dollars in large quantities at around CNY6.8000," says Shanghai-based trader at local bank. Another Shanghai-based trader at different local bank says Chinese banks' dollar buying could be signal from PBOC "to increase market fluctuations." ([email protected])
  • #261,353
  • Jun 21, 2010 9:20pm Jun 21, 2010 9:20pm
Yuan Falls Versus Dollar Despite Fixing; Demand From Chinese Banks

SHANGHAI (Dow Jones)--The yuan fell against the dollar on the over-the-counter market Tuesday, supported by demand from domestic banks despite the Chinese central bank's earlier move to set the dollar-yuan central parity at its lowest in the modern era.

At 0151 GMT, the dollar-yuan exchange rate was at 6.8134, up from 6.7968 at open and 6.7976 at Monday's close.

The People's Bank of China set the dollar-yuan central parity at 6.7980 earlier Tuesday, down from 6.8275 Monday, marking the largest single-day change in the modern era. The 6.7980 fixing level is also the lowest in the modern era.

The PBOC typically uses the daily central parity to send a policy signal on where it wants the yuan to be.

Traders said several Chinese banks were behind the dollar buying, amid speculation that the PBOC could be encouraging buying to reinforce the perception that its latest promise to increase the yuan's flexibility means two-way fluctuation.

This is especially significant after the yuan hit a new high against the dollar Monday, following Beijing's announcement over the weekend to ease the currency's peg.

Two large Chinese banks were spotted buying dollars around 6.8000 earlier, said a Shanghai-based trader with another local bank. "Their orders were pretty big," he added.

Joy C. Shaw and Shen Hong, Dow Jones Newswires

June 21, 2010 22:14 ET (02:14 GMT)
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #261,354
  • Jun 21, 2010 9:20pm Jun 21, 2010 9:20pm
Sell EURUSD
Entry: 1.2280(if seen) Target: 1.2200 Stop: 1.2330

Simple as can it be.
A little beginner trader since 2006
  • #261,355
  • Jun 21, 2010 9:25pm Jun 21, 2010 9:25pm
So far eurusd is acting as expected.
It opened the Tokyo session below yesterday's value indicating weakness.
It tried the 1.2353 resistance and was rejected there.
Next logical test is the 1.2242 swing point and 3 days reversal low.

It will stay weak, unless it can trade above 1.2353 again.
Getting it right is NOT as important as not getting it wrong.
  • #261,356
  • Jun 21, 2010 9:26pm Jun 21, 2010 9:26pm
Quoting Morita
Could someone explain to an idiot like me, why this is the case for China and US? Doesn't China rely on its exports and the US just imports like crazy, so wouldn't China appreciating their currency mean that it would cost more for the US to buy the Chinese's Goods? I didn't study Economics for college so I don't know a more in-depth analysis of this stuff, but this point just keeps coming to mind.. Always learning.
My take is that by not pegging the CNY to USD, it gives the false impression that China may appreciate the Yuan.

However, I still strongly believe that China knows that dollar will continue to appreciate due to Eurozone problem plus risk aversion. Europe and USA are their biggest importers and it sure makes no sense to become more expensive with the still weak consumer power.

China can now actually depreciate their currency vs the USD while still maintaining its competitiveness despite the weakening Euro.

My thinking could be wrong.
  • #261,357
  • Jun 21, 2010 9:27pm Jun 21, 2010 9:27pm
Gold : Daily Cycle Matrix System : The lower limits are defined at 1107.9 // 1213.0 and the upper limits are 1240.8 // 1336.0. The most likely trading range is 1175.5 // 1269.5. In a range market the selling zone is 1240.8 - 1269.5 and the buying zone is 1175.5 - 1213.0.



Gold : Monthly Cycle Charts
http://www.qindex.com/gold.html
A little beginner trader since 2006
  • #261,358
  • Jun 21, 2010 9:32pm Jun 21, 2010 9:32pm
Ha !

These moves feel chinese - kung fu trading
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #261,359
  • Jun 21, 2010 9:39pm Jun 21, 2010 9:39pm
Quoting 2+2=4ex
To me that chart might support 0.6500
this one is kinda cool.. it help me go short at 5143 once. if you do a little math between the current years low and the 2 levels on either side. you will find its 1.5 pips from current low 1876. this one says euro is headed for 7.7 cents or basically worthless as a currency..
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those who can, do. those who cant, talk about those who can
  • #261,360
  • Jun 21, 2010 9:42pm Jun 21, 2010 9:42pm
Quoting perrier
My take is that by not pegging the CNY to USD, it gives the false impression that China may appreciate the Yuan.

However, I still strongly believe that China knows that dollar will continue to appreciate due to Eurozone problem plus risk aversion. Europe and USA are their biggest importers and it sure makes no sense to become more expensive with the still weak consumer power.

China can now actually depreciate their currency vs the USD while still maintaining its competitiveness despite the weakening Euro.

My thinking could be wrong.
Thanks for the response mate. Your explanation has really got me thinking. Food for thought (For me at least )
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