I don't do CADJPY. However, I've lost a bit by jumping on USDJPY too soon. Expect to gain it back however - loaded up at 116.71 which looks pretty close to 1-year support and now riding the waves as it sorts out its confusion. Will be back in the black when it gets to 118.35 or so, could be today.
sound about right for an average 116.7 I am accumulating as well eur/usd around 1.33 to 1.32 Target 1.4010 GBPUSD 2.9650 Taget 2.144 I do not thing usd/cad will go higher then 1.11 gl
Have reversed field on USDJPY, now think it's heading towards PPP, which according to the Economist is around 109. Reasons: BoJ is under new management, their economy is stumbling because of lack of liquidity. Low interest rates were supposed to increase liquidity, but the carry trade has siphoned it all off, so BoJ has decided to hit it on the head by selling off some of its $900bln in foreign reserves. They should really raise rates, too - theirs is only 0.4% above inflation, where most other big economies run at around 1.5%-2%. At the same time with US inflation down and the economy heading for recession, the Fed will be dropping rates Real Soon Now. BoJ is really pulling off a short squeeze: once they have forex rates down where they want them, they'll slowly start buying back in. But the carry trade may definitely be dead, or at least in hibernation for a long time. BoC dumped a bunch of loonies into the market yesterday, causing the loonie to drop, but I notice it has already backed off from 1.09 and is back in the 1.07 range. I don't think we'll see 1.04 again, but it's too soon for USDCAD to make the big recovery move. Maybe in October. Then I think it'll get up to 1.13 or so by the end of the year, depending on oil and how the US economy is doing. Canadian mfg figures are off, that's why we're off 1.04. Also oil failed to hit records and is back in the low 70s - when it drops another $5-$10 you'll see USDCAD roar. The credit crunch is spooking M&A, and when it hits consumer credit you could well see a US recession - and that will light a fire under USDCAD. GBPCHF is heading south, I think back to its 14-year mean of around 2.27. That was another pair that was driven by carry trade. Lots of good-looking prices around - EURUSD, GBPUSD, especially AUDJPY at under $90 and AUDUSD under .79 - we haven't seen prices like that for a while. But I think we are in the middle of a major international currency realignment and who knows what is going to happen. Once central banks start splashing trillions around, we are pawns in their hands. I think the best strategy right now is not to make the long-term plays, but to channel-trade and scalp a few pips here and there, while waiting for some sanity to return.
wow man...what 2 weeks this is too much I Hope this week this will do OK GL GS FX EURUSD Buy USDJPY Buy USDCHF Sell GBPUSD Buy * USDCAD Sell AUDUSD Buy NZDUSD Buy USDSND Sell USDHKD Sell GBPJPY Buy GBPAUD Sell GBPCHF Buy NZDJPY Buy CADJPY Buy AUDJPY Buy EURJPY Buy EURNZD Sell EURCAD Sell AUDCAD Buy
USO Seems Like a sell GS While NGAS is North for the next 2-3 weeks GLD Seems South and SLV North... Does not make sence... Getting the same GS? TIA
I don't know, man - I lead a simple life. USDJPY carry trade is definitely back on, expect 121 in a few weeks. I have a lot ridinfg on that. USDCAD should be recovering, with the credit crunch killing M&A, oil down and Canadian manufacturing figures off, but it will recover at 4 pips a day with lots of action in between. I expect it will touch 1.13 by December. Central bank interventions were a stopgap - the US economy is still heading south for the winter. Housing starts keep plummetting "seasonally adjusted", and this is the peak building season. We won't be selling them much lumber this winter, and the fallout will cut resource exports, too. Once the driving season is over, watch for oil to drop back down to $50 or below. All bad for the loonie.
I am Still Selling USDCAD for 1.02 seems wants 1.07 after that AUD/USD Seems Like want north fast for 0.89 GBPUSD Seems Like a pick till 2.06 Over next 2 weeks
doing this GS for a while Currency Sell NZD/USD 0.73384 AUD/USD 0.86483 AUD/CAD 0.89252 AUD/CHF 1.02673 USD/CAD 1.07855 USD/CHF 1.19559 AUD/NZD 1.22312 EUR/USD 1.39388 EUR/CAD 1.48482 EUR/CHF 1.66931 EUR/AUD 1.70344 EUR/NZD 2.05582 GBP/USD 2.07028 GBP/CHF 2.44064 NZD/JPY 85.054 CHF/JPY 98.15 AUD/JPY 100.312 CAD/JPY 112.041 USD/JPY 116.015 EUR/JPY 162.626 GBP/JPY 239.281 Buys EUR/USD 1.34169 USD/JPY 110.813 GBP/USD 1.97455 USD/CHF 1.166 EUR/CHF 1.62384 AUD/USD 0.80729 USD/CAD 1.0256 USD/CAD 1.017 NZD/USD 0.66901 EUR/GBP 0.67568 EUR/JPY 153.289 GBP/JPY 223.965 CHF/JPY 93.491 GBP/CHF 2.36209 EUR/AUD 1.61414 EUR/CAD 1.41394 AUD/CAD 0.84152 AUD/JPY 89.984 CAD/JPY 102.561 NZD/JPY 74.247 GBP/AUD 2.36004 AUD/NZD 1.17749 AUD/CHF 0.96359 EUR/NZD 1.91031