EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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May be you are correct,, But I am still Long USD/CAD at 1.08 my stop is 30 point below that and my target is around 1.15-1.16.
So I either lose 2000$ or gain 45,000$.
How is your trading today? Do you have any open position?
The story I have heard since February. They said that EUR/USD will go to 1.20 even 1 to 1.....The banks are highly representing the government. Every government want to devalue of their currency now.
I doubt it. Even the stock market go to collapse again, I doubt that people will use the same theory like before----go to USD for the safe currency.
USD is not safe anymore......How the currency would be safe, if they can print by free???
Good luck!!
Deutsche Bank AG, the worlds largest currency trader, predicts the Euro/USD will depreciate to 1.27 in the next three months. what do you think?
https://www.db-markets.com/portal/appmanager/dbmarkets/mydbm?_nfpb=true&_pageLabel=mydbm06_page_15
Not sure how new you are to Forex, but it can eat people alive - and make them richer than they imagined, without having to put up capital. I day trade when I have time, and fortunately don't have to rely on capital markets as I make money in the labor market.
The strength you are talking about in GBP, AUD, and EUR may be seen as bullish BUT those pairs slid so far and so fast that there just had to be an upward correction coming - I should have went long EUR/USD at about 1.3920 when I thought about it. Pairs can only dip so much before people come in as bottom-feeders or take profits. You should keep your eyes very close on equity markets and USD pairs. What I mean when I say this is that sometimes Forex pairs already calculate equity drops in (e.g.: pre-market), and then if the dow opens at say -100, USD selling begins if stocks pare any gains, despite still being in the red. Also, today, the downward move in stocks bottomed out around 120 in the dow I believe - I believe it wasn't until the dow crept back up from the bottom that people started selling the dollar again. It's all about timing. I understand your frustration though, I've gotten burned pretty badly this week as well. Let's keep our heads up and continue to help one another!!! BTW - Ashraf gave me this advice when I met him in person - Don't try to stick your head out if Forex - which I took as - don't try to be a hero and make a ton of money overnight, even though that's what we all want. Hope this helps, and maybe just sit back and watch a bit - maybe stay out a few rounds. Take care and good trading.
very slim chance of reaching 1.70 UNLESS S&P rallies over 1000 or ftse 5000. this rally is so tired and is running out of steam. i would be more inclined to stay clear of cable or be bearish for now.
I don't understand why most traders currently appear to be very bullish AUD,GBP,EUR despite equities continueing to slowly slide. Even Ashraf, on one hand is looking for 1.70 gbp 1.47 eur .85 aud but when? 2010!! and on the other hand he says high interest, falling markets will boost the flagging USD but for how long? 2010!
A frustrated Hamish.
PS perhaps we should day trade the S&P & not bother with forex!! Aside from my facetious remarks above are there any traders in the forum that day trade forex?
Hamish