I'll give it couple more days to see how things shape up(standing on sideline).... then converting everything back to USD. If no Major events, movements by EOD Monday... I'll be backing the USD again and selling GBP and JPY.
Closing all my open poistions, seems this weekend will turn out to be a crucial one.
Hey Spec, wake up buddy... u've been bearish on sterling all the way from 1.62 levels(4 weeks back)... almost 500 pips... i would say its better to trade with the trend mate.
never good to get too emotional about your analysis mate... i know sterling looks weak but then what's the driver behind this upside??
I back sterling and EUR as long as equtiy markets look strong. still eyeing 1.7050 level on cable.
I agree Rob, Ashraf here's doing a fantastic job. must admit he's broadened my views of the forex market and i give him a thumbs up for continued effort.
Ashraf, a rather unusual quiet morning from you and spec today... what's happening boys? risk aversion not working? yet again... market proves another theory wrong...
sorry lads jus can't help but chuckle looking at cable charts this morning...
So guys, I spent last week in Geneva on business... but came back today and noticed cable's still holding on above that 1.61 level I mentioned earlier.... I still don't see it falling beyond that.
Spec I know you gonna start ranting against sterling after this post, but it's just my view I am sticking to and yes i do get emotional with my trades... I am still long GBPUSD from 1.65 levels.
Spec, too funny... NOT I can't attach screenshots of my chart here, but if you open a weekly or monthly chart of cable for last 5 years, you'll see that the trend which opens in Q1 every year more or less continues through out the whole year.
so if Q1 is in uptrend, year closes higher and vice versa...
reg USDJPY, it has to fall in equilibrium at some point between 105-125. i dont follow it that closely hence the wide range but i think JPY's being artificially maintained and the harder they try, the faster it'll fall....!!!
if you read carefully, I never said it'll take 49 days for it to test 1.6125. But IMO it'll start climbing towards the 1.70 level again by 50th day or it may've crossed it already by a small margin.
pretty much like a human's sleeping cycle, you can never tell if you'll be deepest in your sleep at midpoint of the night, it could be as soon as you hit the bed, after a couple of hours or early in the morning. so in this fall from 1.70, it can hit 1.6125 within 10 days or 25 days or 40 days... who knows? but from there on we'll gradually wake up.... start rising.... coming to life again :)
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Also numbers released by Japan raise a concern over export losses due to yen strength.
-Rpats
If no Major events, movements by EOD Monday... I'll be backing the USD again and selling GBP and JPY.
Closing all my open poistions, seems this weekend will turn out to be a crucial one.
- Rpats
wake up buddy... u've been bearish on sterling all the way from 1.62 levels(4 weeks back)... almost 500 pips... i would say its better to trade with the trend mate.
never good to get too emotional about your analysis mate... i know sterling looks weak but then what's the driver behind this upside??
I back sterling and EUR as long as equtiy markets look strong. still eyeing 1.7050 level on cable.
Good Luck
what's happening boys? risk aversion not working?
yet again... market proves another theory wrong...
sorry lads jus can't help but chuckle looking at cable charts this morning...
Spec I know you gonna start ranting against sterling after this post, but it's just my view I am sticking to and yes i do get emotional with my trades... I am still long GBPUSD from 1.65 levels.
Let's hope for the best.
Rav
I'll keep an eye out on Shaghai for that one and may take a small USD/JPY position.
guess there's a first for everything.
Rav
too funny... NOT
I can't attach screenshots of my chart here, but if you open a weekly or monthly chart of cable for last 5 years, you'll see that the trend which opens in Q1 every year more or less continues through out the whole year.
so if Q1 is in uptrend, year closes higher and vice versa...
reg USDJPY, it has to fall in equilibrium at some point between 105-125. i dont follow it that closely hence the wide range but i think JPY's being artificially maintained and the harder they try, the faster it'll fall....!!!
Rav
I only trade 1 pair - cable. so i can only talk about what I am trading and investing in.
Reason - 2 of the most safest, widely accepted and least volatile currencies in the world.
if you read carefully, I never said it'll take 49 days for it to test 1.6125.
But IMO it'll start climbing towards the 1.70 level again by 50th day or it may've crossed it already by a small margin.
pretty much like a human's sleeping cycle, you can never tell if you'll be deepest in your sleep at midpoint of the night, it could be as soon as you hit the bed, after a couple of hours or early in the morning.
so in this fall from 1.70, it can hit 1.6125 within 10 days or 25 days or 40 days... who knows?
but from there on we'll gradually wake up.... start rising.... coming to life again :)
Ravi