Forex Day Trader's Thread

[RidderTrade]

cpngtwwwwwww

AUD/USD looks good.. I'm off to bed, gnight & good luck Pipp

how are you amigo

 

[RidderTrade]

Pip, opinion on EUR/CHF, EUR/JPY ?

 

[Pippy5000]

I hate doing this but I'm short again EU after taking profits prematurely..

 

[Pippy5000]

EUR/CHF probably won't come down much with the SNB waiting by 1.50 .. We might see Euro weakness in the Japanese session tonight.. I still don't know why the S&P tanked.. I might try and EJ long at 130.25 .. my 130.2 entry order missed being filled by 2 or 3 pips last night..

 

[RidderTrade]

Eur/chf

EUR/CHF probably won't come down much with the SNB waiting by 1.50 .. We might see Euro weakness in the Japanese session tonight.. I still don't know why the S&P tanked.. I might try and EJ long at 130.25 .. my 130.2 entry order missed being filled by 2 or 3 pips last night..

yeah thought the same, did bought around 1.51 yesterday, made a choppy ride to 1.5135, a buy around 1.5090 would be nice
it has the potential to move to 1.5500

 

[RidderTrade]

agreed, but euro could strengthen a bit against gbp in the near future,
so gbp/jpy could be the weakest of the bunch, however the spread on gbp/jpy is not that pretty

 

[RidderTrade]

however the rise in eur/chf is far from impulsive lately, too slow, so maybe it could move a bit lower first, to finish the correction from the jump from 1.45

 

[wh92stang]

Japanese GDP out tonight too, so watch out for that.

 

[Pippy5000]

thanks for the heads up stang.. sounds like a sell stop might be in order for EJ

 

[RidderTrade]

thanks wh92

 

[SSINGH]

guys....if the Japanese GDP numbers are bad....what should it do to EJ?....

I'm not clear which way I would swing on this pending data...

Can anyone here please elaborate?

 

[LeoE]

I *think* that if the data is worse than expected, EJ should rise as the yen would be weaker? Or have I got that the wrong way round?

 

[Pippy5000]

you would think it was cause it to tank but it could cause USD/JPY to go up and that would cause EU to tank and EJ would freeze in place.. I'd go with bad GDP bad EJ anyway though..

 

[Pippy5000]

it would cause Yen repatriation but it's an issue of how the USD is perceived vs. the JPY..

 

[SSINGH]

I *think* that if the data is worse than expected, EJ should rise as the yen would be weaker? Or have I got that the wrong way round?

here's what I see

 

[RidderTrade]

Ssingh not to bed at this time?

 

[SSINGH]

Ssingh not to bed at this time?

Hey Ridd....

I'm waiting for you to read me a bed time story....lol

 

[SSINGH]

Japan is scheduled to release preliminary first quarter numbers for gross domestic product on Wednesday, headlining a modest day for Asian economic news. Japan also is releasing Q1 data for housing loans and April figures for convenience store sales.

GDP is expected to decline 4.3 percent compared to the previous three months following the 3.3 percent decline in Q4 of 2008. On an annualized basis, GDP is expected to plummet 16.1 percent after the 12.1 percent fall three months earlier. Nominal GDP is called lower by 3.4 percent on quarter after the 1.6 percent fall three months earlier. The GDP deflator is expected to add 1.8 percent on year after the 0.9 percent gain in Q4. Housing loans were up 3.3 percent on year in Q4, while convenience store sales gained an annual 4.2 percent.

 

[elitejets]

I still don't know why the S&P tanked..

Bank of America.
Bank of America fell after the bell on news of a secondary share offer priced at $10 (price is 11.1% below its closing price of 11.25, and was already down $4.09% on the day). BofA had the biggest shortfall in the stress tests at 33.9 billion$
Indices tanked and USD and Yen strengthened.

 

[Pippy5000]

The japanese GDP numbers are already expected to be horrible.. will take something really massive to exceed the low expectations.. I went ahead and banked EU for 4 whole pips and have changed my strategy to nested buy and sell stops