Tuesday, 1 December 2009

My Forecast

11:30GMT GBPUSD completed the pattern listed below in Pattern charts now its the turn to drop.
07:10GMT my systems are down today - local tranformer-burned; seriously considering PV cells green power solution (must trade for that in next 30 days). Continue with BUY/SELL levels - no more alerts till systems are back; no SENTIMENTS for today
04:10GMT If anybody is stuck with any pair after following BUY/SELL levels and needs help please comment under this post - the best advice is hold as my experience is that market always turns +ve pips on those levels. the incidents like Dubai world provides -ve exposure but these -ve pips are just panic investors and only for very shorterm.
04:10GMT In next 10-12 days GBPs must sink to new lows as true extend of UK exposure to Dubai debts will be known -A host of European banks could potentially lose money from Dubai World after the state-owned entity asked creditors for a six-month standstill on debt repayments. Banks that acted as arrangers or bookrunners on Dubai World's most-recent $5.5 billion loan facility in June 2008 include HSBC Holdings PLC (HBC), Royal Bank of Scotland Group PLC (RBS), Lloyds Banking Group PLC (LYG), ING Groep N.V. (ING) and Credit Agricole SA's Calyon (CRARY), as well as Bank of Tokyo-Mitsubishi UFJ (MTU), Sumitomo Mitsui Banking Corporation (JD-SMU), Emirates Bank and Mashreq Bank (MASQ.DFM).
03:30GMT About to meet 12 hrs SELL levels - GBPJPY, USDJPY & EURJPY
03:20GMT Personally, I don't think BOJ going to intervene but they may do the talk of intervene. JPYs can go any direction but sure to be volatile.
03:10GMT BOJ decision to have meeting has put wheels on JPYs
02:10 SELL GBPs above 143.18 & 16480 target 60 pips low
02:00GMT Friends, Reuters reporting regarding Dubai "Creditors need to take part of the responsibility for their decision to lend to the companies," said Abdulrahman al-Saleh, director general of Dubai's Department of Finance. "They think Dubai World is part of the government, which is not correct." expect GBPs to drop as banks will be thrashed.
01:50GMT expecting Long stop hunt soon in GBPs now 1.6435, 142.02

00:00GMT Good morning friends, hope you made some good pips yesterday. Today we will see how players going to handle EURs. I'm very excited as unemployment news certainly can make some traders wobble. We can get caught in wrong direction very easily and preventing that is our challenge. EURs and YENs will be on focus again. I'm not making any forecast on EURs direction now but will try my best at later stage. Market looks more stable now after Dubai "drop" but as expect Yen was not UP - I feel there is some delay for some reason. Pattern shows that it was suppose to go down yesterday and UP for today morning.

If you are confused looking to my trades the strategy was currency pair hedging GBPUSD[DOWN] vs GBPJPY [UP] vs EURJPY [DOWN] vs USDJPY [UP]

4 comments:

  1. Can you give me a current reading of the 5 min blue lines for any pair you have them for? Thanks

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  2. 5 min 143.84 & 142.12 at 03:11 GMT

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  3. Jeeson, thank you, what is your read in gbpusd for the day? Thanks

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  4. Its not very stable - With UK bank exposure levels to Dubai problem is not clear where as US has only $10 billion. My guess is it should fall to 1.62 level soon but yet to do techi-analysis today. I'll certainly go for SHORTs above 1.6500ish

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