FX Weekly Report

0

0
Where to now for the USD versus other majors
Sun, Sep 21 2008, 16:34 GMT
by Pierre Charlebois
www.TradingPostFinancial.com




We are certainly in tumultuous times in all markets at present. I would suggest this condition will continue for some time. Weeks months or even years. We are witnessing the most volatile period in financial markets in our lifetime. This allows for greater swings in markets, producing many more opportunities than normal while also increasing the risk. In times like this more than any other, use good sound money management and only expose a very small margin of your account at one time. 2% or less in a very good rule.
This week, I present the EUR/USD and GBP/USD in 4 hour chart frames. This allows for a better view of the current patterns. Both are in a range that when broken should produce a very strong move.
The USD/CAD this week has appeared to have topped medium term. Now attacking it’s monthly support, a break might produce a revisit of Par (1.0000) or lower. Watch that barrier at $1.0416
The EUR/JPY is of course reacting to the risk reduction with the Fed. Bail-out. A move up is expected. What I would be watching for however is a sudden reversal at the Carry-Trade does not like these very volatile conditions and when things turn again we may see a further very violent unwinding.
Cheers and good trading,
Published on
Sun, Sep 21 2008, 16:41 GMT
Archive
- Is the Dollar ready to strengthen again?
Published On Mon, Dec 1 2008, 02:14 GMT
- When will the USD range finally give way?
Published On Mon, Nov 24 2008, 00:23 GMT
- We are at important levels coinciding with the G20
Published On Sun, Nov 16 2008, 17:02 GMT
- Are traders going to finally capitulate on the USD?
Published On Mon, Nov 10 2008, 14:55 GMT
- It's all about the USD
Published On Mon, Nov 3 2008, 04:54 GMT
[ View All ]
Trading Post Financial Services Inc.
| #310 - Dunsmuir Street. Vancouver, BC V6C 1N5
http://www.tradingpostfinancial.com | admin@tradingpostfinancial.com
Legal disclaimer and risk disclosure
High Risk Investment
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
The content provided in this site is put forward in good faith and believed to be accurate, however there are no implicit guarantees of accuracy. The reader accepts that by using this information, he or she will not hold Trading Post Financial Services, Inc., ('Trading Post') responsible for decisions based on information from this site.
This website may contain links to other websites. These links are provided as references to help you identify and locate other Internet resources that may be of interest. These other websites were independently developed by parties other than Trading Post Financial Services Inc. and Trading Post does not assume responsibility for the accuracy or appropriateness of the information contained at, or endorse the viewpoints expressed at, such websites.
Currency trading is risky, it involves substantial risk of loss, it is not appropriate for everyone, and therefore only risk capital should be used for trading.
Risk capital: money that a person can afford to lose. Past performance is no guarantee for future results. Actual trading results may vary.