Comments on: The day ahead in the FX market, Thursday November 22nd https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/ The Professional Source Thu, 22 Nov 2012 06:54:14 +0000 hourly 1 By: Sean Lee https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7804 Thu, 22 Nov 2012 06:54:14 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7804 Morning papillion, I think its going to be pretty quiet, we may see a little movement early on in Europe but will then die down pretty much for rest of week imho

]]> By: Papillon https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7796 Thu, 22 Nov 2012 06:39:00 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7796 Morning Sean,

This overnight was nice session for EUR/JPY. With this new high, EUR/USD follow up above 1.2850 as well. This backdrop is interesting, we have resistances for EUR/GBP at 0.8065, EUR/AUD at 1.2400, it’s seem a good configuration for sell rally ? but the timing is vital, i guess the key is EUR/JPY to said “go for short”.

]]> By: Kirill https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7775 Thu, 22 Nov 2012 03:47:36 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7775 ZenFx, sorry for not clarifying. Against my religion is actually should be read more like against the odds. I have decided that on current environment and around 1.04-1.06 levels downside should be more pronounced than upside. Thus I am trading on the short side))) But it also tells that I prefer short side trading, it just my style. I know it is moronic, but it is hard to rewire myself.

]]> By: zenfxtrader https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7761 Thu, 22 Nov 2012 02:09:46 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7761 Kirill, can’t get the phrase ‘against my religion…’ out of my head 🙂
You might have made a lot of money in the past 3 years if you had converted to a religion that only went long AUD! Just the interest alone would be enough!

]]> By: zenfxtrader https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7760 Thu, 22 Nov 2012 02:01:52 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7760 ‘ Against your religion to be long AUD …’ 🙂 that’s very funny, in a masochistic sense. You really have to be a glutton for punishment trying to always short the teflon beach-ball! AUDUSD goes down very reluctantly and pops up very quickly.

]]> By: Kirill https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7746 Wed, 21 Nov 2012 22:14:18 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7746 In reply to zenfxtrader.

> ZenFx, I have a sinking feeling that you are spot on. It is against my religion to be long AUD, so i am waiting for 1.045 region to add to my short. I am a bit uneasy about all of this, because Sean was talking about 1.05 level a day or two back and trading in that range could be conductive for spike towards 1.06.

]]> By: zenfxtrader https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7744 Wed, 21 Nov 2012 22:04:53 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7744 Looks like AUD wants to test 1.04 and beyond, again. Good level to go long here (1.037) with a stop at 1.0335 for a move to minimum 1.0420 and likely 1.045.

]]> By: Anas https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7743 Wed, 21 Nov 2012 21:40:26 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7743 thanks kirill and sean :S

]]> By: Sean Lee https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7741 Wed, 21 Nov 2012 21:32:30 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7741 No worries Anas, its not a chore for me, I love it! And join the confused gang in the AUD, always this way shortly before a big breakout move (I hope)

]]> By: Kirill https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7739 Wed, 21 Nov 2012 21:31:20 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7739 Anas welcome to confused club. In my simplistic picture of the world: if RBA does not cut in Dec AUD/USD has potential to be north of 1.10 by Feb. So they’d better cut. Hence the expectation in my opinion.

]]> By: Anas https://fxww.com/the-day-ahead-in-the-fx-market-thursday-november-22nd/#comment-7737 Wed, 21 Nov 2012 21:25:57 +0000 http://fxww.dreamhosters.com/?p=2993#comment-7737 Hi Sean,
Many thanks for your constant info.
The Aud seems to be under pressure alright, but i really cant see how a rate cut is expected:
RBA “The effects of the earlier reductions in the cash rate were, meanwhile, continuing to work their way through the economy, and members expected that further effects of these changes were yet to be observed”
“Members considered that further easing may be appropriate in the period ahead. However, at this meeting, with prices data for the September quarter slightly higher than expected and recent information on the world economy slightly more positive, the Board judged that the stance of monetary policy was appropriate for the time being.” basically the last paragraph of the minutes, having looked at aussie reports for november they are mostly above expectations, hence i do not see the reason for a rate cut in december, where usually retail sales would be high, at least part time employment will rise etc…
also on the other hand if they dont aud would easilly rally to 1.06-1.07 till february when they are forced to do a rate cut just based on the high value of aud.
i am kinda just sitting in the middle confused.

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