Thread: GBP and JPY Pairs H1 2013

Hopefully a good catalyst for another drop in the Euro.

Originally Posted by biggari

no - flat at the moment - waiting and seeing

I have one for you.
NZD/USD short to around .8010. Stops around .8065. Risky but headed that way I think.

Originally Posted by NHAppraiser

I have one for you.
NZD/USD short to around .8010. Stops around .8065. Risky but headed that way I think.

looks good - thanks

Originally Posted by EuroTraderApp

Hopefully a good catalyst for another drop in the Euro.

So far I have not read anything positive but have just learnt that contrarian traders will trade opposite the negative news!

USD/JPY shows near the bottom of an upward channel. Target is +-.8100.
Could be a good long hauler.

Originally Posted by ericwong

So far I have not read anything positive but have just learnt that contrarian traders will trade opposite the negative news!

thats why i avoid trading too close to news - whether good or bad always goes a diferent way to what i expect - even tried trading against what i expect - on that occasion it went in direction i expected

hate news - all scheduled news should be released at one and same time each day so as not to interupt trading too much

I'm in already with add ons, waiting for an up move but so far stalls bellow 80

Originally Posted by NHAppraiser

USD/JPY shows near the bottom of an upward channel. Target is +-.8100.
Could be a good long hauler.

Originally Posted by ericwong

So far I have not read anything positive but have just learnt that contrarian traders will trade opposite the negative news!

I could be off in my assessment of what lies ahead - but the Eurozone is an export driven amalgamation of nations. They need a competitive currency at the very least (if not a competitive currency along with a competitive labour market). In light of this, the powers that be probably prefer a weak Euro (closer to 1.15-1.1.20 rather than 1.25-1.35).

In light of this, I can't see any reason to do anything but keep shorting the Euro. Target of 1.23 (3 months), 1.20 (end of year) maintained.

It wouldn't make any tactical sense to come up with some semblance of a banking/monetary union with the roadmap for a fiscal one, last week, then jack up the currency to 1.30 in the following weeks. This hurts growth. This is why I'm not believer in this tarot target of 1.30...

I could be wrong, but I'm definitely putting my money where my mouth is.
M

Originally Posted by MAXJOY

I'm in already with add ons, waiting for an up move but so far stalls bellow 80

Hold tight. 1 hour indicates a move towards .8023 with stops at .7930.
5M shows .8000 with stops at .7960.
My view and stops should be a bit more generous.

Originally Posted by biggari

thats why i avoid trading too close to news - whether good or bad always goes a diferent way to what i expect - even tried trading against what i expect - on that occasion it went in direction i expected

hate news - all scheduled news should be released at one and same time each day so as not to interupt trading too much

Then it wouldn't be so interesting in the market - concerning also all of the speculators.

Also - news can come as unexpected - like some natural disaster, etc.

Originally Posted by ssirovnik

Then it wouldn't be so interesting in the market - concerning also all of the speculators.

Also - news can come as unexpected - like some natural disaster, etc.

sorry - i disagree with you - scheduled news only interupts my trading and usually isn't too interesting

yes - i should have underlined 'scheduled'

I'm holding longs since last month the down swing so its time to see the bigger move up and those $$$ flowing our way...

Originally Posted by NHAppraiser

Hold tight. 1 hour indicates a move towards .8023 with stops at .7930.
5M shows .8000 with stops at .7960.
My view and stops should be a bit more generous.

Usd index has crossed it's 3 day sma, whilst not the most widely used Ma it is quite popular and should encourage some buying

Originally Posted by biggari

sorry - i disagree with you - scheduled news only interupts my trading and usually isn't too interesting

It interupts it - that is quite sure - so does any market maker - which is making movements on the market with spikes in the price(my opinion is that direct news trading is for ther "big boys" because of all the hardware and speed which you need to do such trading).
It is enough interesting to trade the news - if the market is taking it seriously - check some of the news which are not of high importance (Germany economical news) but the market reacts very sharp on them with volatility.

yes - i should have underlined 'scheduled'

yeah, you could

EUR/USD July 4 - 2012


EUR/USD is being supported by 1.2550 and as long as we trade above this level we should be able finish the last few day's correction and trade to 1.27.

A drop under 1.2550 is bearish breakout but will most likely only take price to 1.25 as the overall trend is bullish.

We need also to be prepared for a sluggish trading day as most US markets close earlier today as it’s Fourth of July - the national day of the United States


If you have any questions about this scenario or anything else trading related feel free to write to me here on the forum.

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EUR/USD 60 min chart



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