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Unusual FX Action?
Broadening USD weakness is joined by broad yen strength rather than weakness could have implications for FX view on appetite.
Adam
Steven
i used to live in langkawi in malaysia and i met a trader on the beach doing hisbread. i said to myself this is what i am gonna do.
one advice, get a foray on elliot wave analysis and go to bob prechter EWI website. that work hard on indices but it is a perfect tool combined with fibonacci on forex.
find a well explained book on elliott wave analysis and fractales theory.
I deal wiht two forex brokers, no spred betting. I read and watch (tv eyes) everything that is connected to currencies on bloomberg and cnbc. Read forecasts from several different fx banks, and websites to get trading ideas, meanwhile i study charts all day long to validate some trading ideas (directions), and to create some of my own.Currently i am going over ashraf's book for the second time before I do this online workbook. Basicaly, I am trying to plug myself in on TV, internet, books as much as it is possible. I am not a professional, or can live off of forex for right now. I am trying to gain knowledge and understanding of this creazy market so i can live off of it. I love it.
There appear to be rumours floating of the Fed talking to dealers on using reverse repos.
If true and also indicated by the Fed statement today - whats the impact you are expecting ? Equities down and dollar up ?
thanks
Steven
it is a definetly valid point of view. I decided to stay out of AUD/JPY. Looks to me that somebody is buying at 80.00 level, and they don't ask how much you got, they just buy all the that is offered.
Looks like the pair run into barrier of the invisable wall at 80.00 level. One view to view this ishttp://www.youtube.com/watch?v=YQqyeWBZrLQ&NR=1, and on the base of some many indications, bears will have to let go and join the bulls.
Personally, i am trying to find clearer position for the pair, bear or bull, or even just to forget about it untill market gives a clear signal of direction.
thanks