Falling Equities Still Key for Dollar

Intermarket analysis set-up still suggests that fresh equity selling remains the only source of support for the US currency.

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Ashraf Laidi

London, UK

Posts: 0

15 years ago

Jun 21, 2009 2:53

taraz, forextrader. look for taking some of those profits at 1.61 then 1.58. and keep scaling up moroe shorts on the way to your intended target. eurusd support at 1.3840 and 1.3770 are key.

Ashraf

tarazuze

Posted Anonymously

15 years ago

Jun 20, 2009 20:45

thats wonderful dema its always nice to meet a fellow bear i just think the potential target for cable could ultimately be a lot lower say 14500 atleast but obviously it will take atleast another month after it hits 15200. we are going to feast on pips this summer . ps another trade my system highlighted was aud /usd this has a huge fall coming too over the coming months.

forextrader

vologda, Russia

Posts: 127

15 years ago

Jun 20, 2009 19:55

tarazuze I am also short the pound at 1.647 My target is much more conservative than you at around 1.52 . Next week FOMC meeting and the statement announcement will be key.. Either we break below 1.625 which will take us 1.58 or break above 1.66 which will take us 1.7.

My feeling is the rally in GBP is exosted and we heading lower. Let wait and see
Dema

tarazuze

Posted Anonymously

15 years ago

Jun 20, 2009 18:56

be prepared for a bearish summer in equities and look out for dollar strength i shorted eur/usd at 14200 and gbp/usd at 16300 and i will not be looking for just a few pips profit im afraid as im a hungry bear

Ashraf Laidi

London, UK

Posts: 0

15 years ago

Jun 19, 2009 19:16

Ho, UPDATED RESISTANCE at 1.7970, 50% of pullback from 2.49 to 1.5186

Ashraf

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Jun 19, 2009 18:28

Hey,
Oil is heavily selling off today....CAD stay very calm.....it should be a very good signal for my short. maybe......I don't know......

Good luck for everyone!!!!!!

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Jun 19, 2009 17:45

Hey, Arshaf
I add my short USD/CAD at 1.135 and put stop at break even this time.

The stock market is dropping now. Hope it will go up later.......

I long AUD/JPY at 75.5 and wait for USD/JPY drop to 95.5 again. I will add more position to long AUD/JPY.....when USD/JPY at 95.5 level.....

If USD keep rally, I will short EUR/USD again to hedge my positions.

Thank you for give me the idea.
Best regards
Qin

Ashraf Laidi

London, UK

Posts: 0

15 years ago

Jun 19, 2009 17:31

Qin, no, theres 1.4110 after that. i dont think USD will continue falling if stocks deepen in the red. best to sell usdjpy

Ashraf

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Jun 19, 2009 16:53

Hey, Ashraf
If EUR/USD break 1.4 and stay firmly above on it, will it change the whole picture??