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by Ashraf Laidi
Posted: Jun 19, 2009 14:00
Comments: 65
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This thread was started in response to the Article:

Exiting the Exit Strategy

Bernanke's FOMC will use "disinflationary" reference to containing yields rather than benign growth. Thursday is his 2nd chance.
 
rajesh68
Singapore
Posts: 60
12 years ago
Jul 3, 2009 16:28
Thanks Ashraf and thanks Ali. Today, euro/usd is range bound and hence i have squared up.

Ashraf, I had taken position in USDCAD and CADJPY as per yesterday's advise. I was worried about them upto 1 hr before. Now I see, most of them are in the money. Hats off to you. Thanks
Ali
Australia
Posted Anonymously
12 years ago
Jul 3, 2009 15:32
Rajesh

In situations like this where currencies are range bound I would make sure I have a solid risk/reward ratio as Ashraf mentioned. Make sure your stop is adequate especially now when the currency is not in a clear direction.

I have taken profits and will await more movement..
Appreciate your guidance ashraf.

Ali
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Jul 3, 2009 15:16
cougr, very good point. traders have to get used to remaining alert ahead of such meetings. Though, Russia did say USD will remain strong currency shortly after they announced their planned reduction in treasuries.
Ashraf
cougr
Australia
Posts: 101
12 years ago
Jul 3, 2009 14:30
Moscow summit July 6 - 8.Be alert for any repeat comments by Putin and his concerns about dollar as reserve currency .
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Jul 3, 2009 12:52
rajesh, wolf, we may see a bounce towards 1.4070s and even 1.14120 you never know what the Chinese will add on to over the weekend. technically, we should be able to reach 1.3920s and even 1.3880. But it's up to you to knwo what;s your riskreward ratio and margin utilization.


Ashraf
Forexwolf
Auckland, New Zealand
Posts: 39
12 years ago
Jul 3, 2009 12:33
If we have bad earnings data from the US next week, we should see further advances in USD. The upward trendline (short term) suggest an interim floor at around 1.394/2. If that goes, we will see lower levels, probably 1.387.
rajesh68
Singapore
Posts: 60
12 years ago
Jul 3, 2009 10:37
Ashraf, I sold Eur/USD at 1.3980. But the market is moving against this. Should I keep this till next week?
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Jul 3, 2009 10:22
Ali, in expecting furtehr declines in equities, expect dollar to gain some ground but be nimble because these issues with China addressing the reserve currency issue are capping it down. buying yen vs comms currencies is also helpful.

Ashraf
Ali
Australia
Posted Anonymously
12 years ago
Jul 3, 2009 1:30
Hi Ashraf,

Looks like we were right. My EUR USD short is up 200 pips as well as 100 + for AUD USD short.
I wonder how long this will last as both EUR/USD and AUD/USD are range bound currently.
Do you think this is a short lived move?

The S & P has had a significant decline last night, this may raise more doubts regarding the recovery which could allow US to strengthen on the back of that (short term). I am however in doubts for the US Dollar's strength.
Would welcome your thoughts as always

Kind Regards,
Ali
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Jun 29, 2009 10:03
Ali, could see EURUSD break below 1.3880 towards 1.3820 early this week with resistance holding at 1.4130.

Ashraf