Thread: GBP and JPY Pairs H1 2013

Originally Posted by Bal

New member to this forum - From India - trading since past 2 years - well experienced in losing huge money - just started recovering the lost - with all your help - Thanks a lot

Hello Bal! I just wanted to welcome you as well to our DailyFX community. This is a great place with great people to trade with.

Happy Trading!

Greg McLeod DailyFX Forum Moderator

Originally Posted by Alejandro Zambrano

Cool You can also setup alarms in Trading station if prices crosses interesting levels. As we can see below - when we cross under 1.2480/70 we get a confirmation that the trend has reversed

Got my dose of zzzzz's now and loaded up with PATIENCE while waiting for this pair to decide where to go next -southbound or northbound? Break of 2480/70 like you have stated makes me jump into the south ride and a break of .2445 will make me join the bullish camp meantime. IMHO, trend is still bearish but with the Full Moon in bloom, I am disciplining my finger to trigger that 'sell' button without considering all factors.

BTW, thanks for that tip. Setting alarms on TS..

Originally Posted by NHAppraiser

3:45 EST, based on the consolidation, it should be about ready to pop. Probably to around 1.2460

Hey NHA,
You were spot on! Good call!

Originally Posted by Gregory McLeod

Evening Star Bearish Reversal Pattern
on US 10-Year Treasury Could Mean Higher Euro, Cable, Aussie, etc.

As the the risk appetite currencies have been selling off, investors have been fleeing to the perceived safety of the US 10 year Treasury sending yields down to historic lows. The price, as indicated in the attached chart has risen as the yield has fallen. However, we can clearly see a bearish Japanese candlestick pattern called an Evening Star on the daily US 10-year Treasury price chart that should get Euro bulls and other risk appetiters excited.

Because of the inverse correlation, as we see the price of the 10 year bond fall while yields rise, we could see the Euro, Aussie, Cable and Kiwi rise. In addition, we could see the dollar and yen fall.

I'd like Franosh's opinion as he is hour resident 'Bondmeister', as well as anyone else that would like to chime in on this one

Originally Posted by Franosh

Oh dear, I am afraid you've picked the wrong 'meister', Greg. My view is just about as valid as any other random guy's opinions. 10-yr futures looks a bit different but doesn't bode well either. On 30-yr, depending on your quote and contracts, it's possible that it's reached a channel top plus fib resistance on monthly. There might be some troubles ahead very soon.

I saw your post on the other board about contrarian views regarding mainstream media. I am of the same view too. Not sure about S&P cash, on futures I have around 1250 as support.



Edit: herewith another quote on 10-yr continuous contract:

Thanks Franosh, I was searching the threads for your response! I am glad I got your attention.

The risk appetite currencies are doing much better, for now against the dollar and yen. I am using the 10 year more as an indicator for my currency trades. I just recently got my head wrapped around the relationship between bond yields and price.

Charts from today's Bulls vs. Bears webinar

Bulls vs bears spread betting market update June 6 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

EUR/USD

EURO-DOLLAR: Fundamental levels (orders, options, technicals),
$1.2650 Minor offers
$1.2620 Medium offers
$1.2595/600 Medium offers
$1.2575/80 Medium offers/Stops
$1.2520-50 Medium offers placed between/Stops on break
$1.25176 Int.Day high Asia
$1.2492 ***Current mkt rate 12:06GMT Wedneesday
$1.2478 Pullback low off $1.25176
$1.2470 Medium demand on approach
$1.2451 Tech 61.8% $1.2410-1.2517
$1.2441 Int.Day low Asia
$1.2440 Strong demand/IMM-system stops on break
$1.2410/00 Medium demand/$1.2410 Tuesday Jun5 low
$1.2385/80 Medium demand/Large stops/$1.2386 Jun4 low

I think we have seen the low at 2288 for awhile now

Link for streaming video of todays ECB press conference

ECB: Webcasts: ECB monetary policy decisions

Levels to watch on the topside are 1.2542 (Tues. high) and 1.2625 (May 28th high and the 20 day MA) and on the downside 1.2440/1.2410 and 1.2385 (61.8% Fib retracement of the 1.2288/1.2542 range).

Originally Posted by ssdbsnl

Interpret GBPUSD Chart and get the hint what EURUSD going to do.

Hi Colly, to me it looks like massive inv HS but with no other indicators such and the abscence of trendlines I would not be able to work from this chart?? Is there anything else you can share regarding this chart etc?? such as the fomulae you use or indeed if its just a zommed in parabolic???

Mid-East Euro sales weigh on EUR/USD ahead of Draghi statement
Bids from 1.2480s slow dip but further weight expected on EUR into 12:30GMT
Test of 1.2450 expiry level viable, 1.2425 & 1.2400 strikes below

ECB disappointment will return the focus onto regional debt/structural concerns

Well this 30 min chart showing divergence
Im expecting possibility of drop to 2440 min if 2485 higher lows fail
i been scalpin this hot potato longs and now shorts
same for indicies such as dax , cac and ftse

so far i have tested long term trading 3 times now and it performs very little returns v time used for me.

However this does not mean that Its the same for everyone.....

One thing is for sure though, banking continuous profits via scalps entering and exiting the market quickly is very suited to these markets we see of today.

Bag em then tag em then bank em

Fed QE3 hints suggest sell dollar
CFTC positions are too short euro so its difficult to get much downside action and even If ECB disappoint then the hope trade on politicians will remain key

let the games begin

Originally Posted by cw1

Well this 30 min chart showing divergence
Im expecting possibility of drop to 2440 min if 2485 higher lows fail
i been scalpin this hot potato longs and now shorts
same for indicies such as dax , cac and ftse

so far i have tested long term trading 3 times now and it performs very little returns v time used for me.

However this does not mean that Its the same for everyone.....

One thing is for sure though, banking continuous profits via scalps entering and exiting the market quickly is very suited to these markets we see of today.

Bag em then tag em then bank em

One thing is for sure though, banking continuous profits via scalps entering and exiting the market quickly is very suited to these markets we see of today.

for this pair yes it is

EURUSD sold as Draghi kicks off by highlighting 'increased downside risks' EUR/USD spikes to 1.2470 lows

Euro area economy might 'recover gradually' but many see recession
Further EUR/USD weakness targets 1.2450 expiry level

Draghi sticks to S-T financing programs, no mention of LTROs
Cavalry not coming from Frankfurt, now over to Bernanke in DC Friday

USDX back to weekly pivot