The London Open - page 23
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Little off-topic I know, but did Ricard get the Chelsea job ? No he didn't, so a great end to the day with Phil Scholari coming up trumps and completing a perfect day with 5 from 5 on the Forex, 3 from 3 on the Commodities, 6 out of 6 on the football and 1 out of 1 on the Chelsea manager position.If there's a hand higher than the Royal Flush, I just got dealt it !! Sweet dreams all
Le Pimp - who is your God, cos I want to join the congregation!!
CCI56 & MA Magnetism ?? Nothing like keeping it simple moley !
On to today.
My overall impression, without looking at my shorter-term charts (long story), is that Dollar strength is creeping back in and both Gold & crude looking quite heavy.
That leaves us some potential to the downside for EURUSD and GBPUSD and a little room to the upside for USDCHF & USDJPY, and the former two looking slightly more appealilng.
EURJPY GBPJPY GBPCHF are looking a bit scruffy for me today.
Short and sweet today.
Good effort on the crude last-night J.F. Just like last Friday's effort for a quick 100+ pips at last-orders.
Keep it up. See you all soon.
Have a great morning.
Anyone having trouble logging into trade room today?I can't get in.
Jeremy
Yeah, I can't get in either.
Yeah, I can't get in either.
There was a problem with Hotcomm. Fixed now. Please try again
Hi guys,
Really pleased this morning grabbing 49 pips on gbp/usd. Even managed to get out at almost the bottom. I am pleased with that trade. Also managed not to get myself distracted and diving in to other trades. Nothing too much happening at the time of writing will look for trades, but for the moment I am content with this little upside.
Le Pimp - Thanks for the continued support and helping answer my questions and putting the pair logic in place. I think I am beginning to see the pattern, murky, but definitely not black any longer.
Bon Pips
Hi Guys.
Got a lot of feedback about the whole EURJPY thing this morning, and glad a lot of you didn't jump in.
Let me go over, very quickly, why it was not destined to go south as some were expecting.
With Gold weak Dollar is strong. So what happens in these situations mostly ?
Yes, you got it ! EURUSD falls alongside Gold and USDJPY rises.
What does that tell us? Well, with both Euro and Yen weak against the Dollar EURJPY cannot really go anywhere. It will only fall aggressively if one of two conditions are met.
1. EURUSD is falling heavily and USDJPY falling or stable.
2. USDJPY is falling heavily and EURUSD falling or stable.
I hope this helps clear this up.
Happy Pimping
Thanks Pimp
June 5th clarifies this beautifully - lovely move on EURJPY with EURUSD rising along with USDJPY.
Soooo, EUR getting stronger against USD and at the same time the JPY is getting weaker against USD.
Beginning to sink in...
You're really rather good at the Forex lark!
F
EURUSD's daily average range currently 163 pips.
Today's low (so far!) is 165 pips.
GBPUSD's daily average range currently 164 pips.
Current low from midnight 173 pips.
Just something to ponder - not suggesting they won't move further.
Morning Dan & all,
Nice pleasant morning trading.
Like a few of you I traded the GBP/USD short at 1.9576 down to my trendline I had drawn in on my hourly chart at 1.9500 to which I set a limit order in for 76 pips. I was surprised to see it pass through at first. But after reading the news results (BOE Inflation Attitudes), I can only see the GBP falling further.
'The BoE is currently in a bind over its policy, with slumping economic growth calling out for interest rate cuts which the bank cannot deliver because of the inflation surge'. Who wants to own the pound?
Took the USD/CHF long too as it rallied through the 50 M/A with the CCI's confirming. After it rallied I raised my stop to my entry level (therefore I have a free trade). I will come out when my 21 cci on my 15 min breaks through the '0' line.
Really enjoing working with you all.
Simon.