EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
China's Currency Trick خدعة عُملة اليوان
China's priority to make the yuan a lending currency instead of a reserve or invoicing currency. Here is what/why it means.
Latest Charts EURGBP & Gold مخططات
Here are the latest levels in EURGBP & GOLD discussed earlier with the WhatsApp Bdcst Group.
View Hot-Chart..
Here's the link
http://www.earnforex.com/forex_e-books/beginner_forex_trading/turtlerules.pdf
You will need to read about it - however :
breakouts are simply the price moving out of clear range after a certain time - normally 4 weeks or 8 weeks.
So if say a currency makes a new 4 week high - then you go long. If it makes a new 4 week low - you go short.
Some people prefer a 55 day breakout (as it is more certain) - which is a new 55 day high - u go long and vice versa.
Pretty simple ? Not always - because u do get false breakouts, and only with experience will you get better at spotting them.
Suggest u google - turtle trading or break out trading - u should be able to find a free PDF (the original turtle rules) which u can go thru and test , if you believe this is what you want to try
Good Luck
Do you think the divergence is gone for the time being. Obviously we need to see the week before things settle clearly in one direction.
Not really a fan of betting against GS - as with the end of Lehman, Bear ... etc. GS has visibility to an even bigger book !
however, just a bit concerned with Meredith Whitney's downgrade - will wait and watch.
Upside risks remain as dollar weakness continues. Crude is at a year high. Will wait for a clear break either way before taking a trade.
No reason for Financials to rally yet.
Tech rally is Intel earnings driven.
Divergence exists for the day - but all this could change after earnings later in the week
JPM - wed
Citi and Goldman - thu
BOA - Fri
if these earnings beat expectations, we go rocking up again for another 5% on the S&P in the next 10 days. Expectations should be beaten but I am not as confident as I was earlier after Whitney's downgrade of Goldman yesterday. Will wait and watch - but definitely not concerned about the divergence yet, maybe by the end of the week if it remains.
Any pullbacks I would use to short.
Breaking 1.0590 and now likely to break 1.0300.
Below 1.0300 I can't see any major support on the weekly charts till we reach the Psychological barrier of 1.000 - once broken it is a free fall to 0.97.
Only a major fundamental shift in sentiment - crashing stocks & oil, and return to substantial USD strength can stop this. The other factor in CADs favour is the Canadian economy has clearly started adding jobs - more strength.
The only thing I can see which can derail this fall in the short term is the COT data which is at a CAD bullish extreme - 88% of positions are CAD long, which could lead to a pullback - but these extreme positions can remain so for quite some time.
thats the fun of a forum - we can have different points of view.
I see S&P at 1150+ in the next 4 to 6 weeks. that is what my volume indicators are suggesting, however as with these things they are not right all the time. I will go long on a clear break above 1080.
The correction or sideways moves have all been under 5% - as we have seen in the last few months.
Unfortunately, most of the time when we all start looking for a correction it does not happen.
next 2 to 3 weeks are very critical - as all the major earnings are released.
you could be right on downward / sideways movement from nov. but we could be knocking closer to 1200 by then. The sign of a strong correction will be much better earnings but no rally. thats when I'll get worried and start thinking of going short.
cable - u r probably right that is has peaked for the year - i am just looking for a short term bounce and i normally get 50% of them right.
Cable crashed after the expansion of QE by BOE - once that runs out, where will we go?
target 83.50 in the next 2 weeks
There appear to be rumours floating of the Fed talking to dealers on using reverse repos.
If true and also indicated by the Fed statement today - whats the impact you are expecting ? Equities down and dollar up ?
thanks