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 |
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields - Details in video description.
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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?
so historically still cheap.
bounce in the short term cause nearly everyone who wants to be short already is. only place left to go is up. though this does not always happen, so will play it with tight stops.
UK economy is weak - but keep looking at the FTSE - continues to make new highs - 5500+ possibly in the next month.
earning season should be good - the comparative quarter was weak and estimates are very low.
the financials dragged the market down - and they will the pull the market up. watch the options market on the major financials - call options for nov. expiry are large lots - institutional buyers are positioned for a substantial spike in the next 4 to 6 weeks.
but as we know - they can all be wrong. so play it smart.
You are right that the net short contracts on sterling increased 30%.
Of the 87K contracts on sterling 75K (86%) are short. To me that looks like an extreme net short position - a substantial bounce could be on the way. and i bet since the COT data (Oct 6) the shorts would have increased further
the bounce from 1.5730 today could take us back to 1.6+
likewise on CAD - the number of contracts net long doubled over the last week (88% are net long) - again quite extreme.
vik
target 83.50 in the next 2 weeks
good luck
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
I use
http://forexstream.dailyfx.com/index.html for updates and trade ideas
http://www.dailyfx.com/calendar/ as a calendar
good luck
http://www.babypips.com/school/
But I would be very careful in shorting GBPUSD, rather I am looking at a potential short term long position on this.
BOE is not expanding its Asset purchase program and holding rates at 0.5%, it looks like a clear run to 1.7 provided the S&P maintains its upward momentum.
Good luck.