Commodity FX (CAD AUD NZD NOK)

DHussey AudYen breaks 7760 look for 7680 and 7550!!!!

Now did you understand what i meant about clear trend continuation.....

YES DAN!!!

it is cuz now you've had the breakout trough 7835, which was eyed from 7985 failure to up side. price moved up since then but it will break in a day or so next level 7760. I refer it to as trade of the day cuz this was the only trend continuation everything else in the market last 2 3 days been 50/50. Plus its got barrier protection at 90, so hardly a case to stay long in there but shorts make sense.



And yes what about CAD? read about it under CAD topics

Hussey them probably were the trade of the day, good on you for catching them on time. I'm some how concentrated on CAD CHF JPY at the moment and seems stuck maybe i need to cut some of the positions and start playing other arena's.............. hmmmm wont be a bad Idea to carry on holding AUDUSD for another day, lets see how day folds.





EU urges G20 to explore global transaction tax
23 Jun, 2010 @ 05:48 am ET | written by Reuters



June 23 (Reuters) - The European Union formally requested in a letter on Wednesday that the world's largest economies explore the introduction of a global tax on financial transactions.

Writing to the G20 before a summit in Toronto on June 26-27, Herman Van Rompuy, the president of the EU Council which represents EU member states, said the world needed a level playing field on bank levies and transaction taxes.

"We consider that international work on levies and taxes on financial institutions should continue to maintain a worldwide level playing field," he said in the letter, written jointly with European Commission President Jose Manuel Barroso..

"Also the introduction of a global financial transaction tax should be explored and developed further in that context."

Copyright 2009 Thomson Reuters. All rights reserved.

On the AUdJPy 4 hr chart, it seems an ascending triangle is forming. Again, the risk is to the upside. Anyone disagrees ?

General comment. Although the risk play seems to have faltered, but it is very well supported. There maybe a second phase of the risk play.

Aussie will remain most under pressure in my view i do expect if not today next we will see a turn around in the markets and we can all just say a number below in any currencies and hit incase the NFP week after does manages to put some gains on the mark. Mean while another Uk fundamental is the budget reoprt, I expect a sharp sell off in GBP next week. Euro fundamentals seems to be favours so for now we can be glad that it will least volatile. Greek- German bonds remain on recent highs, so eventually they will start to drop in time through jun to july drop in bond will make favourable to buy at dips. This will only confirmed If the Greece shows in july that the austerity measures as helping restore calm in the Greek economy and that those Greeks improve their book a bit.

I think end of summer will see some good data from Europe over all. Housing market & prices is told to be continue to rise, maybe for the rest of the year i.e only if the number for unsold homes see a decline in Europe this will also boost and give confidence to the job market. Just got back from trip to US and man things there are really really bad. I met some friends in NY and NY itself is still busy as ever and it seems same good num of people are still employed. But that is not reflected in the rest of the country, a group sitting in a restaurant probably some investment banker or something where busy talking how American could soon in years to come or at time sounded even could come out with food stamps for people struggling to feed the families. And recently there are fears people having to chose to feed their families or to own their own homes.

Man we are far better off than the US economic condition, i'd say let the Euro crash at least we wont go homeless and hungry and no to treat us incase we go sick. In 4 days i got so much negativity form their media that its unbelievable no wonder these people are fighting wars that wasn't theirs to fight in the first place. The epiphany i had the other day laying bed watching the news (all though i stopped watching TV since Iraq war) America since after the revolution has fought majority of its wars on foreign soil, and only time some does come to US and attacks on land they go and nuke the shit out of them. Which proves their the biggest terrorist in the first place. What did Iraq ever did to America. Oh my God this is such bull shit, tell you what watch this movie Unthinkable and tell me what you thinkhttp://xtshare.com/toshare.php?Id=33556



Boy i really got side tracked there :) its good to be back now I will stop hating London now and learn to Love it more :D I think soon I will move to a distant place on earth and become a farmers there and live long, wine makers are welcomed to come along :D