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by Ashraf Laidi
Posted: Jul 16, 2009 17:32
Comments: 89
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This thread was started in response to the Article:

Gauging the Bounce in Appetite

Forex markets have yet to buy into the rally in US equities.
 
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Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 28, 2009 11:09
Wolf, yes, that 94.50 print may have abeen a hint. still going with 94.10 target later this week. Watch Dow futures for further deterioration currently -21 pts. But i sstill strongly beleive med term USDJPY goal at 90 and 87. Resistance remaisn firm as 95.80 as per last week's HotChart.

Ashraf
Forexwolf
Auckland, New Zealand
Posts: 39
15 years ago
Jul 28, 2009 10:56
Ashraf, where d you see USDJPY from here - went down 60 pips to 94.53 level. Doyou think sub-94 is back in the pipeline?
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 28, 2009 10:33
COME ON GUYS, STICK TO SHORTING JPY CROSSES. REGARDING THAT GBPJPY. IT REMAINS VALID, WE NEVER CLOSED ABOVE 157. YOU MUST DIFFERENTIATE BETWEN INTRADAY HIGHS AND CLOSES. WE'R NOW AT 156/33 FROM SESSION HIGH OF 157/44. I SAID ON TWITTER TO SELL WHEN WE WERE AT 156.80. STAY FOCUSED.

ASHRAF
Xaron
Munich, Germany
Posts: 528
15 years ago
Jul 28, 2009 10:11
I can remember better times. ;) Being short in the GBP/JPY was a bit tough the last days. Let's see if it pays off. :)
Ho
New York, United States
Posts: 26
15 years ago
Jul 28, 2009 10:10
Xaron,

Tks. Happy trading!?
Xaron
Munich, Germany
Posts: 528
15 years ago
Jul 28, 2009 10:05
Personally I'd take GBP/JPY. But this one is a beast! *g* The Aussie is supported by coming possible rate hikes while the GBP might still see some QE. Combined with profit taking in the stock markets that should support the Yen, so GBP/JPY short is just the best choice in my opinion.
Ho
New York, United States
Posts: 26
15 years ago
Jul 28, 2009 10:02
Ashraf,

Which is a better short NOW? AUD/USD at 0.83 area or GBP/JPY at 156.80 area? Which gives better risk/reward? Advise pls. Tks.
Xaron
Munich, Germany
Posts: 528
15 years ago
Jul 28, 2009 9:18
Right, thanks Ashraf! Do you still stick to your 155.80 target for the GBP/JPY? Looks like every dip is just bought but it doesn't manage to break through 157.50. Looks very explosive to me. ;)
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 28, 2009 9:15
bubbles, i still see a slight corrective dollar bounce accompanied with falling equities in Q3 before renewed USD losses in Q4.

Xaron, yes, you can call it the equivalent of a straddle. i always said the Aussie was a long term buy, which does not stop me from issuing fresh long calls on the currency wheneveri see a break-out opportunity (like last night on twitter). Yes, you are correct, the short Aussie of 0.8140 did not materialize.

Ashraf
Xaron
Munich, Germany
Posts: 528
15 years ago
Jul 28, 2009 7:59
Dear Ashraf,

I have to admit that I'm a bit confused. You targets seem to fluctuate widely. ;) From shorting the Aussie to 8145 to buying the Aussie with a target of 8340. Looks like a straddle to me, sorry if I don't get it yet.

I know, all markets are rather unpredictable but those "conflicts" between your intraday analysis and twitter are confusing.

Same is for GBP/JPY where you had an initial target of 152.50 a week ago. I know, again, the down trend(?) is intact. So do you still stick to your targets (155.80 lately)?

Thanks!
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