E.&O.E.

EU Long @ 1.2364 (3x), Target @ 1.2385 (mS1)

EU Long @ 1.2362 (2x), Target @ 1.2489, @ 1.2548
Weekly & Monthly could go further up.

EU Long @ 1.2355 (2x), Target @ 1.2366

#444

EURUSD, M5, 2012 August 08
Delete the Target.
Exit @ 1.2365, +10

took shorts AUD/USD.....1.0565 (2x)

long USD/CAD......99.50 (2x)

short NAS100 at 2710 (will sell higher)

weak NZ employment numbers, AND Mervyn King changing the tune today stating further rate cuts would be ‘counter-productive’ (CB double talk imo) and the BOE unlikely to expand its balance sheet over the coming months ....

looks like a drift along a possible top

430

EURUSD, M5, 2012 August 09
Delete the target @ 1.24
Exit @ 1.2374, +12

Don't Get Carried Away by Carry Trades

Published: Wednesday, 8 Aug 2012 | 1:42 PM ET
By: Kelley Holland
Currency Blogger, CNBC.com

Talk of carry trades is in the air again. Best not to get drawn in, these strategists say.Tired of all the euro zone drama? Really, who isn't? It's tempting, these days, to think instead about good old fashioned carry trades - buying high yielding currencies and selling low yielders, and pocketing the difference.

Right now, the euro [EUR=X 1.2368 0.0004 (+0.03%)] is looking like an especially attractive funding currency, what with euro zone interest rates low, the economy weak, and the ongoing crisis.

Don't go there, say the strategists at RBC Capital Markets.
Interest rates are low in many countries, not just in the euro zone, and that limits the potential for a carry trade to be profitable, they say. Also, although volatility has declined recently, it is still high enough that there is a real chance a carry trade will be a dud - especially with the compression in interest rate differences.

"The decline in volatility does not even come close to compensating for the compression of yield spreads," the strategists wrote in a note to clients. They estimate that volatility would have to fall to around three percent, from about nine percent currently, to get many investors interested in carry trades. "As such the carry-to-risk ratio – a good barometer of the efficacy of carry as an investment strategy – is still far below its historical average."

Still interested in carry trades despite these warnings? If so, the RBC strategists have done some legwork for you and figured out which currencies offer the most potential as funding currencies - that is, currencies to be sold against higher-yielding ones. According to the RBC analysis, while euro zone interest rates have fallen, the euro is only the second most promising funding currency for a carry trade. Top honors go to the Canadian dollar, [CAD=X 0.9942 0.0002 (+0.02%) ] particularly when it is sold against commodity-linked currencies like the Mexican peso [MXN=X 13.1379 -0.0073 (-0.06%) ] or the Australian dollar. [AUD=X 1.0564 -0.0002 (-0.02%)]
Don't say they didn't warn you.

http://www.cnbc.com/id/48571375

agree, and BOC's Carney is one slick snake oil salesman

Mr. Carney cited a decision nearly two weeks ago by euro-zone policymakers to help recapitalize Spain's struggling banking sector. Such a decision, he added, "is further evidence of Europe's resolve to address its problems."

(BOC's Carney: Economy Can't Depend on Debt-Fuelled Households
By Paul Vieira
Aug 8 2012)

http://www.nasdaq.com/article/bocs-c...20120621-00859

GBPUSD, H4, 2012 August 09
Short @ 1.56676 (3x), Target @ 1.5588 (mS1)
PO Short @ 1.5739 (DR2) (4x), Target @ 1.5556 (DS1)

EURAUD, H4, 2012 August 09
Long @ 1.1716 (2x), Target @ 1.1759
PO Long @ 1.1665 (DS2) (3x), @ 1.1635 (DS3) (3x), Target @ 1.1759 (mR1), @ 1.1780 (DR1)

#437

Hi aeternum!
An outbreak in both directions might be possible...I try to trade the range 1.2040-1.24/1.27 actually, with the focus of the triangle (1.2220 - 1.2450).

EURUSD, Daily, 2012 August 09

#436

See #452, please.

excellent point, FXcube.........also new rules in effect as of the past 2 weeks....residential real estate lenders require 20% down-payment so maximum allowed to lend for home purchase is 80%

this will put a cap on property prices in Canada and slow development, imo

looks like a lot of people here may have recently bought at the top of the market

i do not like this sudden reversal in rhetoric by Mervyn King today.......2 or 3 or 4 weeks ago King was literally screaming for more stimulus

market memory is that short?

CADCHF, H4, 2012 August 09
Short @ 0.9755 (2x), Target @ 0.9686 (DS1)
PO Short @ 0.9780 (DR3) (2x), @ 0.9800 (2x)

EURUSD, H4, 2012 August 09
EURUSD, H1, 2012 August 09
Long @ 1.2375 (2x)
...so long as EMA200 supports (red Line) by ascending H1/H4 candles.
Be aware of false breakouts.

EURUSD, M5, 2012 August 09
Scalping Trades
+0.3%

EU Long @ 1.2300 (5x), Target @ 1.2352 (mS1), @ 1.2388 (mR1) (2x), @ 1.2423 (mR2), 1.2438 (DR2)

AUDJPY, Long @ 82.87 (2x), Target @ 83.13 (mR1)
CHFJPY, Long @ 80.34 (2x), Target @ 80.90 (mR1)
EURJPY, Long @ 96.50 (3x), Target @ 97.19 (mR1)
GBPJPY, Long @ 122.56 2x), Target @ 123.03 (mR1)
NZDJPY, Long @ 63.62 (3x), Target @ 63.91 (mR1)
USDJPY, Long @ 78.41 (2x), Target @ 78.65 (mR2)