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For those who still haven’t had a free trial in the FXWW chatroom on Reuters Messenger………..

Posted on - October 20, 2014 10:06 am (Australia/Sydney) | 0 Comments
If you like plenty of bank research and analysis, then you will love the FXWW chatroom. If you haven’t trialled it before, then go to http://www.fxww.com/chatroom-trial/. For more detailed information, go to http://www.fxww.com/fxww-product/chatroom/. We can only manage a limited number at a time, so it will be a case of first-come-first-served for the first 20 triallists.

AUD/USD: Playing from long side to start the week

Posted on - October 20, 2014 8:54 am (Australia/Sydney) | 1 Comment
GPIF news from the weekend will have an impact on AUD/JPY sentiment; There is still expected to be some residual interest from Sovereign players to buy AUD/USD for bond issuances; Charts show short-term consolidation between .8650/.8850. The market has opened around .8760 this morning and I’m playing this pair with a bullish bias.

GPIF news will have significant impact on Yen

Posted on - October 20, 2014 8:40 am (Australia/Sydney) | 0 Comments
Reuters are reporting the following: According to sources, the Japan government pension fund (GPIF) – the world’s biggest with a 1.2trln USD war chest – is being urged to cut low yielding JGB holdings and increase their equity holdings from 12% to around 25% in order to boost returns. The proposal is for the GPIF […]

JPY crosses again the focus of volatility

Posted on - October 20, 2014 8:01 am (Australia/Sydney) | 0 Comments
Jittery stock-markets and tumbling commodity prices ensured that the JPY crosses had a volatile week and I think we can expect more of the same this week. In terms of volatility that is; I’m really not sure which way they go but pairs like GBP/JPY and CAD/JPY should see plenty of two-way action. The big […]

Future money managers, how are you spending your time?

Posted on - October 17, 2014 4:10 pm (Australia/Sydney) | 0 Comments
Just a brief note today. How do you spend your time during the system development process? It should be something like this: 30% working on your objectives 30% working on your position-sizing 30% working on your exit rules (So you can trade what’s in-front of you) 10% on your entries To reinforce the point I […]

AUD/JPY: Looking bit ‘bottomy’ on short-term charts

Posted on - October 17, 2014 8:04 am (Australia/Sydney) | 0 Comments
Whilst the recent trend has at times been violently bearish, and it is risk-off Friday as well, the short-term charts are disagreeing and look a bit oversold to my contrarian eye. I’m pretty sure that we will get some movement here today and I’m thinking of starting small with a mild bullish bias whilst the […]

Look for quick opportunities in the crosses when volatility gets extreme

Posted on - October 17, 2014 7:56 am (Australia/Sydney) | 5 Comments
In my view, most of the recent action has been related to positioning and sentiment in the USD and in the JPY crosses. Yet when the proverbial hit the fan yesterday, we saw big swings in pairs like EUR/GBP and AUD/NZD which are basically unrelated to the bigger picture events. These swings are generally reversed […]

Back to the good old days of intraday volatility

Posted on - October 17, 2014 7:43 am (Australia/Sydney) | 0 Comments
Well here’s hoping at least. Price action over the last 24 hours has really taken me back in time. We had wild swings up and down in virtually every pair and we were spoilt for choice regarding which pairs to trade. The main questions for me were regarding the USD and the JPY crosses but […]

The nitty-gritty of risk management

Posted on - October 16, 2014 3:57 pm (Australia/Sydney) | 0 Comments
I’m always disappointed by the level of the conversation about risk management. Risking 1%-2% per trade is not the magic bullet that Forex educators seem to think it is. Sure, it’s better than risking 5% of your account per trade, but the concept of risking 1% or 2% per trade is much better suited to […]

EUR/USD: Pick a wide trading range from here

Posted on - October 16, 2014 8:02 am (Australia/Sydney) | 2 Comments
Somewhat of a train wreck overnight for EUR shorts across the board and the market was obviously overly positioned. The fundamental back-drop for the EUR remains bearish so I think we can still sell any big rallies but short-term sentiment will have shifted somewhat after last night’s rally, so dips will also be sought-after. In […]

USD/CAD: Exiting short position with a black eye

Posted on - October 16, 2014 7:43 am (Australia/Sydney) | 0 Comments
I did manage to buy some AUD/USD yesterday on the lows after Peter’s Sovereign tip in the FXWW chatroom (thanks Peter, owe you a coffee ) and thankfully that has offset my pathetic USD/CAD trade, which at least is 100 pips lower than it was yesterday afternoon. I’m taking my loss in the Loonie and […]

CAD/JPY still the FX market’s favourite ‘oil price’ play

Posted on - October 15, 2014 7:58 pm (Australia/Sydney) | 0 Comments
Oil prices have been falling very heavily in recent weeks and the FX market’s favourite proxy trade for crude is CAD/JPY; one economy heavily reliant on oil exports and the other heavily reliant on oil imports. This pair is over 4% lower in the last 2 weeks and we are fast approaching important technical support […]

AUD/USD: Sovereign buyers related to new bond issue

Posted on - October 15, 2014 3:08 pm (Australia/Sydney) | 2 Comments
Once again the Sovereign buyers appeared in force when the AUD/USD dipped to .8680 and market chatter suggests that this is related to the new 2037 Australian bond issue. Sellers are also noted close-by near .8725/30 so we may be in for a short stint of range trading.

AUD/USD: Looks set to test .8650 yet again

Posted on - October 15, 2014 7:44 am (Australia/Sydney) | 0 Comments
AUD/JPY has been the main driver overnight and levels above .8800 didn’t last long in AUD/USD. The overnight lows were around .8693 and interbank sources report that solid bids appeared near there. .8650 is major support on the weekly chart and it has held firm on two separate occasions this time around. One would suspect […]

FX market focus remains on the JPY crosses

Posted on - October 15, 2014 7:29 am (Australia/Sydney) | 0 Comments
There were plenty of reports in the chatroom on Monday morning of large stop-loss orders on the down-side in the JPY crosses and it looks like the first part of this week has been spent trying to trigger these orders. GBP/JPY and CAD/JPY look to have been two of the bigger movers. Whilst there is […]

How to “trade what’s in-front of you”

Posted on - October 14, 2014 2:44 pm (Australia/Sydney) | 2 Comments
Your entry is not king. Nor is your exit. In the realm of Forex trading it is what is in-front of you that is the ruler of your domain. Unless you’re George Soros you don’t have the power to move the markets on your own, so your only choice is to flow with it, otherwise […]

USD/JPY: More risk aversion in late North American trade

Posted on - October 14, 2014 7:40 am (Australia/Sydney) | 0 Comments
Reports from Boston airport that an Emirates flight has been fully quarantined due to sick passengers has caused another bout of risk aversion across illiquid financial markets. Stocks fell heavily into the close and the USD has also been hit, especially against the JPY, with the 106.80 technical support level currently being tested.

USD feels toppy, and sooner or later I’ll be right!

Posted on - October 14, 2014 7:24 am (Australia/Sydney) | 3 Comments
USD/JPY has been surprisingly leading the way in recent days after the rejection of 110.00. Technical support is quite strong around 106.75 but if we start spending any length of time below there, the bulls will get worried. AUD/USD has again bounced strongly off .8650 with the help of decent buying from Asian Central Banks. […]
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