Forex Video Technical Update 7.23.2010 – Yen Slides Across the Board, but Still Within ConsolidationFeatured \ \ 4:19 PM EST \ July 23rd, 2010 |
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The Japanese yen ended the week lower after showing some strength in the middle of the week. For the EUR/JPY and GBP/JPY, the markets are still in ranging modes. The CAD and AUD are in the similar situation as well as the USD. Therefore, the weakness for the yen was broad based, but still not significant enough.
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The Reverse Mandelbrot Analogy suggests staying long $EURGBP and adding on any dip. Video Updated #gbp #forex $
Interest...The TidalShift system just gave a new long $EURJPY and short $GBPUSD signal. Their rolling 20-day correlation though is 0.81... Why is this $EURCHF rally so significant? Video Update explains why. #chf #forex $ Today's #Video: $EURUSD and GBPUSD for #ECB and #BoE Decisions or EURGBP? http://t.co/XU2fMClk @DRodriguezFX $EURCHF has also broken a pattern of the last 2 months.. not regain the previous corrective high
.@JohnKicklighter Yes, retail trading crowds are often right at 'the' turn. Having a central bank to lend a hand also helps. $EURCHF
Just saw Eli walking his dog outside our building again. For the most popular dude in the western world he's hanging around a lot today Not necessarily a contrarian reading though when the SNB is threatening to dump francs...“@DRodriguezFX: Yes. Record number.” Yes. Record number. “@Vtechp: @DRodriguezFX Am I reading this right? Is there really a massive number of EUR/CHF longs?” What a joke. “@djfxtrader: Greek Socialist party spokesman says party chiefs may meet again later this evening.” Holy EURUSD sell-off and pullback. Dislike these hours for a reason; price can spike and pull back at a moment's notice. $EURUSD comes close to sliding back below 1.3200, but same lack of commitment as to the tentative Troika accord details leaded earlier. Clever hashtags abound! “@EconBizFin: What would be the cost of the #Grexit? (a Greek exit from the euro zone) http://t.co/iE0FQdgp” Big risk-off move in the after-hours, this looks the culprit “@FGoria: As expected, Greek TV saying no agreement today #Papandemonium”
Ahead of the BoE & ECB Announcements http://t.co/eZwu7iPi Tactically speaking #forex Talking EURCHF long entries w @robbooker. We're both staggering long entries above 1.20. I like 1.2050 personally; he's looking at 1.2025.
@DRodriguezFX that sounds great - I set up a grid last time too - thinking about 2025 as a starting point @robbooker last time I staggered limit entries every 15 pips below 1.2075. I'm thinking similar but starting below 1.2050 this time. “@cbhensel68: @robbooker I took 50 PIPS this one ... Nice!” // well done and great podcast talk today! Thanks! In other words: I closed my EURCHF long. Might buy again if we drop back towards SFr 1.20. I no longer feel compelled to hold onto this EURCHF long position. SSI is at a massive 19:1, I'd get back in at a lower price. Updated activity level gauge for the S&P 500. Implied and actual volatility continue to tumble. http://t.co/Xsm50VAy That 10 second range may be all we get from the NZD. Hard to deviate from the underlying current of risk appetite trends nowadays.
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