Posts by "callum"

EUR/GBP now certainly looks more interesting as target for short above 91 level, especially as today's EURO data (unemployment, PMI, etc) came in better than expected on top of expectation of some support on Greece (smile smile), while UK's PMI data came in weaker to add to the overall problems.

Will it aim for around 0.9165 region, which happens to coincide with 1) upper bollinger band on the weekly chart plus 2) 23.6% on f-retracement between June 09 low and Oct 09, 3) plus the Nov 09 high. Does it have legs to breach this? If it does, would it aim for the Oct 09 high?

Interesting video, Goldman Sachs's take on Japan as next place of debt crisis:http://digg.com/d31KBlL?t

It's also interesting to note of GS's view on raising JPY as safe haven.

@newpip - playing the RBA rate hike is a fun but tricky if you plan to trade around it. I normally notice that the days/hours before the rate decision, AUDUSD climbs up close to an extreme point, and right at the announcement, it could go in either direction, and usually downwards. Even if they raise the rates, it could still come down based on the commentaries. If rate's don't raise, expect a sharper sell-off. Even if AUDUSD goes up, it could be capped given the bigger move ahead of announcement. To play the RBA poist-announcement, the ASX has a more stable, predictable reaction. As for Gold and AUD correlations, their timings aren't always synchronized. For example, a sharp fall in Gold would drive AUD lower, but a sharp fall in AUD doesn't always drive Gold down, and a sharp raise in Gold doesn't always drive AUD higher.

I am shorting EURJPY and prepared to hold it for major rebounds.

@jj I am on short with gbpusd in anticipation of King speak and the tier 2 economic data at 0430 ET - Business Investment (QoQ) which also came in -5.80% vs fcst of 0.20%. Strangely, soon after breaking below 153, it bounced back into the 153. I am also looking to see how much does it retrace upwards at NY open as per Ashraf's IMT

Callum