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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:

Commodity FX (CAD AUD NZD NOK)

Discuss Commodity FX (CAD AUD NZD NOK)
 
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Ashraf Laidi
London, UK
Posts: 0
13 years ago
Mar 11, 2011 11:24
AUDUSD below the important Jan 11 trendline support of 1.0020s, now calling for 0.9920 prelim target, followed by 0.9870. Both GBP and EUR are hit hard vs. USD, but rising EURGBP indicates cable is the bigger loser as the sub 1.6 break paves the way towards 1.5920, followed by more important support at $1.5770s.

The EU summit on expanding EFSF is due today, with Germany leading the Northern countries insistence to require stronger commitments from the peripheral countries before raising their loan guarantees.

An 8.9 earthquake hit NthEastern Japan triggered major tsunami warnings into central America and Hawaii. Nikkei was down as much 5% before ending 1.7% down. EURUSD breaks below 1.3780s and is vulnerable to extended losses towards 1.3580s later in week in the event of a Friday close below 1.3770s.

Ashraf
Ashraf Laidi
London, UK
Posts: 0
13 years ago
Mar 10, 2011 22:57
Sultan, NZDCAD is now OVERextended and somewhat oversold so it is not wise of me to tell you to keep on shorting..especially before Friday's CAD jobs figures. Ive been saying NZDCAD looks negative since last week. Now, that the move has happened, it does not look as attractive .


Ashraf
sultan5568
jubail industrial, Saudi Arabia
Posts: 10
13 years ago
Mar 10, 2011 22:46
Ashraf, NZD/CAD is it still for sell , and what is the effect in cas any change in CAD unemployment tomorrow .
Ganja
United States
Posts: 278
13 years ago
Mar 10, 2011 17:26
Dave 81 either add or pause....depends on accumulation vs drawdown ratio as its going down..
with time main factor....always an unfolding puzzle without preset hard rules..
return to sender BE is the play if you can take the drawdown...or scalp out here and there...
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Mar 10, 2011 17:19
Ganja, at what lower level would you stop out on your swap play? I see it went to 81.88.
Ganja
United States
Posts: 278
13 years ago
Mar 10, 2011 16:32
Reporting on aud/jpy trade since 2/22 long aud/jpy. @ 83.53 times multi lots..current 83.03
has been ranging thankfully as planned
key point each lot has accumulated $153.55 swap...every week or so 1 lot banks enuff for additional
margin from lower if trade dips...

daily range 80 avg pips.....

thought worthy of forum..
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Mar 10, 2011 15:17
hey daveo..thanks for the input on usdcad ..what do u think of eur moving back towards 1.39 level i was stoped out @140 and felt i was starting to chase it so decided not to:( bad decision but willing to get back in on better direction..and yes the site was getting to be too much i too stayed away..ok gl:)
DaveO
UK
Posted Anonymously
13 years ago
Mar 10, 2011 15:04
Chloe, Ed Matts seems pretty competant EW guy (and his partner). His count on usdcad very feasible !

They can get overly complicated on their corrective sequences sometimes but that is only of academic interest to EW buffs such as myself. I have ways of simplifying potential nightmares :-)

I been rationing my time in the forum in favour of actual trading focus. I hate a lot of bitching and unecessary abuse thrown around, its easy to get dragged in and just wastes time and interferes with trading. I hope Ashraf's planned changes will establish some disciplines and a tight framework going foreward. I sometimes think the forum is looking over the precipice :-)
Ashraf Laidi
London, UK
Posts: 0
13 years ago
Mar 10, 2011 10:07
Lawrence, just to make sure; i was talking about short NZDCAD and NOT CADNZD..

Another thing, I do NOT GIVE advice. I share my VIEWS and analysis on the site and people can act accordingly if they wish.


AUDUSD testing that imp 1.0020-30s trendline mentioned in the IMTs of the last 3 days.

Ashraf
Lawrence
Tennessee, United States
Posts: 14
13 years ago
Mar 10, 2011 4:07
Ashraf, I've not taken your advice so far on CADNZD. I hope there's a bit more steam left in this trade as I'm finally gonna take the plunge. Short at .7133.
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