EU at the edge of the speed pump #1 + weekly TL
maybe some short for now or to complete the north trip directly lets see how it reflect on GU
EU have to work it out quickly TLs is tight
http://cdn.forexfactory.com/attachme...1&d=1285562947
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DislikedHi naatha,
EU at the edge of the speed pump #1 + weekly TL
maybe some short for now or to complete the north trip directly lets see how it reflect on GU
EU have to work it out quickly TLs is tight
http://cdn.forexfactory.com/attachme...1&d=1285562947Ignored
DislikedYou don't see this chart pattern too often ... quite the melt-up, at the expense of a weak USD$. May have hit the ceiling for now, trying a short from, 1.586 for hopefully 70+ pips. BE probably at the high +5.Ignored
DislikedBoJ's gotta be peeved to see UJ here - the fact they're not responding must have to do with coordination and other's needs/wants; just don't get their thinking on starting down this road, losing 75% of their last undertaking, and no action yet - everyone knows it's not a permanent nor sure fire undertaking, but come-on Kan, have some pride & consistency!Ignored
DislikedHi Bel,
i see on your chart fib 50% @ 1.57760 maybe its good level to tpIgnored
- "Japan Economics Minister Kaied says government to take decisive FX steps if needed. Says won't skew markets via continued intervention"
- The usual supranational gets a lot of the credit for pushing EUR/USD higher, and while it s just as likely to be seen on the sell side before too long, sovereign related interest is still firmly biased to the buy side. With talk that China is not only buying more EUR but might actually be chasing it higher, it adds fuel to the theory that it might be trying to lure the BoJ into further USD/JPY buying even as the CNY is allowed to firm up, thus redirecting some of the American ire currently being aimed at China on currency manipulation! PB
- The USD is under pressure across the board with those that have missed the latest move looking for any kind of a rally to get rid of some. There is a lack of bargain hunters around on the USD buy side, though we would be tempted with a modest USD/JPY long as an intervention scare can't be too far away now ..... PB
- Given recent Asian CB interventions, including BoJ, more "discussions", reports, analysis, research (search "beggar" m/t). Interesting, BoJ/MoF seem to be refraining from intervention, despite USD/JPY falling to fresh 2-week lows of 83.63, less than 1 big figure from where it intervened on Sept 15, at 15-year lows 82.87. USD INDEX at 78.868, having hit 8-m lows of 78.828. WSJ: Tensions are growing in the global currency markets as political rhetoric heats up and countries battle to protect their exporters, raising concerns about potentially damaging trade wars. At least half a dozen countries are actively trying to push down the value of their currencies, the most high-profile of which is Japan. Currency-market strains could also be a topic of discussion at next week's IMF/World Bank meet in Washington where CB and govt finance officials will be gathering. On FX, good to watch the above. USD/JPY stops/options 83.50/20, eye BoJ. Offers 84. WL
DislikedWho'd like a wager we'll see 131.05 this coming trading week?
The only caveat is that INO didn't show this price change. If they had, I would be 100% confident.
I'll be short bias the JPY pairs this week. (BoJ permitting).Ignored