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by Ashraf Laidi
Posted: Jun 24, 2009 14:06
Comments: 182
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This thread was started in response to the Hot-Chart:

USDJPY 4-week Cycles

 
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14raj
Kolkata, India
Posts: 210
15 years ago
Jul 1, 2009 18:10
Hi Rob,
yes the market is so erratic but i just enter into my USDJPY long at 9640 with stop at 9612. And its purely technical, in 4 hours chart of USDJPY, you can have one double bottom which was taken out at 9658.But I am worried before NFP.As Ashraf said any negetive number can give a spike to EUROUSD but its prone to fall like anything.Even gold cant able tosustain and break$949 and itmay indicates that the correction in gold is still very much there for $895.
regards,
Rajib.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 1, 2009 17:57
Reuters says the euro's jump 20 mins ago was due to sources saying China demanded G8 to discuss new global reserve currency at next week's G8 meeting.

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Jul 1, 2009 17:50
Steven,

Out of nowhere? Any ideas why? Thanks for the response, I was totally scratching my head.
Steven Blyth
London, UK
Posts: 148
15 years ago
Jul 1, 2009 17:47
Rob. Gold spiked at 17:00 GMT.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 1, 2009 17:46
raj, Im not sure of we're heading that high again. id rather wait and short at around 9690s but if you want to have a go ( you were correct yesterday) go ahead.

Rob, as i said in my tweets: Brits are watching Wimbledon or at the Pub and NYers hardly taking rest of afternoon off ahead of tomorrow (if they bother to show up sicne its July 4 weekend)

Erratic (unexplainable) days are not unusual. Summer Mondays are often so. And wuith Pre-holiday and End of quarter, anything goes. Fund managers and index rebalancing are also common at end of quarter

Ashraf
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 1, 2009 17:46
raj, Im not sure of we're heading that high again. id rather wait and short at around 9690s but if you want to have a go ( you were correct yesterday) go ahead.

Rob, as i said in my tweets: Brits are watching Wimbledon or at the Pub and NYers hardly taking rest of afternoon off ahead of tomorrow (if they bother to show up sicne its July 4 weekend)

Erratic (unexplainable) days are not unusual. Summer Mondays are often so. And wuith Pre-holiday and End of quarter, anything goes. Fund managers and index rebalancing are also common at end of quarter

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Jul 1, 2009 17:36
14raj,

Careful, have you noticed how erratic the market has been the past hour or so - staying within ranges though. Seems like it's pushing for Dollar strength, which I've seen be Yen positive (against USD). General risk aversion stuff, but equities are sky high. Sounds like resistance stands at 97-97.20.

Can anyone explain what's going on right about now? Was there a bond auction - I can't find one. Thanks
14raj
Kolkata, India
Posts: 210
15 years ago
Jul 1, 2009 17:25
ashraf,
can i re enter in USDJPY long at 9640 with stop of 9612..
reagards,
rajib
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 1, 2009 17:19
Rob, Cougr, due to the interplay of TIME and SPACE, today's USDCAD support is at 1.1380-1.1410 but tomorrow will be HIGHER i.e. 1.1420s deoending what CHARTSERVICE you use.

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Jul 1, 2009 17:14
Cougr,

Let's hope that 1.1450 support holds which it looks like it is.
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