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Gold & Yen's Perfect Desert Storm
Yen strength still eclipsing USD rebounds during risk aversion. while gold's ascent is better gauged against currencies other than the US dollar.
what do you thinke about gold for this time
do you expect the same strength against JPY or just risk currencies? thanks.
Ashraf
I seem to remember you covering this sort of thing in the past, but I can't remember where.
but the CADJPY chart never stopped giving. 85.30 is key 50% retrcmnt, but weekly chart may show 84 next week.
Ashraf
Now that usd/jpy has broken support of 90.30 and 90.10, how much risk is there of a major dive in usd/jpy?
Would the current 25/30 pips below 90.10 (89.85/80) be considered a major breach and trip the stop runners into testing the stops?
I will be watching you on CNBC Europe today.
My heartiest wishes & congrats for successfully completing one year on this Forum. (I wanted to send you a card at CMC...but unfortunately, I had been away).
And what can I say that hasn't been said before you & this Forum...so I'll just say a simple 'thanks' (& the rest, ofcourse, you know...in what sight I hold you).
God Bless & keep the good work going... :)
Asad
Dubai downside risks not finished but now we're dealing with China
Ashraf
Today in some news about Dubai debt payment will not occur is written . Have you heard
anything about it ?
You have said Dubai crisis will emerge in January . Time shows you are right ?
OR THIS chart: http://www.ashraflaidi.com/charts/speculators-futures-fx-positions.asp
The RED BARS are the the number of NET LONGS or NET SHORTS in JPY vs USD (or EUR vs USD). Therefore in the case of JPY chart, the LATEST net longs/shorts shows about -23K (contracts are in RED therefore are in the LEFT hand scale as is indicated inside the chart).
This coincided with a USDJPY price of about 91 (closing price of that week) as indicated in YELLOW on the RIGHT hand scale. NOTE in the case of USDJPY AXIS, i scaled USDJPY price in INVERSE SCALE, meaning that as we GO UP THE SCALE, the NUMBER goes DOWN, which means that the YEN goes UP.
Ashraf