1 minute with ForexSurvivor

 

 

(20 Nov US) Some light confusions about yen crosses, but I will let FOMC run its credence text and take it from there. The ups in yen crosses are in the wrong way and correction is needed. Apparently the so many yen reversals in the last few days allow rectangle formation to last till month end, letting the eurusd covers the whole aspects of the next writings towards 150 to Thanks Giving Day. How well Europeans would be thanking that day, it remains to be seen!

 

(20 Nov Europe) 33pips eurusd mission has been completed. Reminder: (08 Nov) Buy EURUSD in the upper middle part of 14700 (@ 14750) and TP 33pips.

 

*GBPUSD order is working.

 

 

(19 Nov US)        what is wrong with the ‘Strong Dollar’ Policy?

 

Statements that have been presented by Americans using ‘Strong Dollar Policy:’ either we belong or they belong to the Simpleton Avenue.

 

1.    CAPE TOWN, Nov 16 - U.S. Treasury Secretary Henry Paulson said on Friday Washington was following a strong dollar policy and indicated he expected it to rebound, emphasising the U.S. economy's long-term strength should help the currency.

2.    London - among Treasury Secretary John Snow’s bromides: he persisted in discussing the strong dollar policy while the greenback was plummeting and is today.

3.    The Bush administration, eager for anything that could help reduce unemployment before next year's elections, has all but abandoned the strong-dollar policy of the Clinton administration and pressured Asian countries to let their currencies appreciate against the greenback.

4.    Trichet underscored US strong dollar policy on Oct 01, 2007, at no vain up to this writing.

5.    Oil, finance and foreign ministers of OPEC met the weekend against the backdrop of a depreciating dollar and tension in world oil markets. In a closed session of foreign and finance ministers, Saudi Arabia, a close US ally, objected to a bid by Iran and Venezuela to highlight concern over the weakness of the US dollar. The group voted the proposal out.

 

Brief:                   Strong Dollar Policy is gibberish and will not be valid as long as Mr. Bush running office.

 

 

 

 

 

Will EURUSD register 150 within the holiday: Thanks Giving Day?

 

(19 Nov Europe) The trading strategy this week is that Majors will overshoot to abnormal range daily moves as 2-day holidays (Thanks Giving Day) to be enjoyed by most investors. Such ‘going beyond’ moves will have either direction: wrong trend formation or right trend formation; any dip in eurusd during the holiday implies the wrong one, while new highs screen apply the latter formation and in both cases buying pressure to emerge.

 

 

(19 Nov Asia)     Crude Oil: Iran (Cheap), OPEC (fair), Venezuela ($200/bl)

 

OPEC met and the unexpected conclusions that I may coincide with my 2008 year target that was set 2 months ago @ $200/bl & $500/bl afterwards (check newsletter):

 

2 serious comments were made and one country set the next target during the summit:

 

Comment No.1            Iran said that Crude Oil price is still cheap

Comment No.2:           OPEC concluded that prices are still fair

Comment No.3:           Venezuela targeted $200/bl in case war plan is absolute

 

Notwithstanding crude oil is regarded as cheap by the third world major export country (Iran), and no complain about high price elasticity from OPEC, both comments led the target to be identified @ $200/bl within 2008 by Venezuela through a war plan being the manoeuvrability  driving force.

 

** There is a grant shift in yen crosses today, and last week low has been built.

 

 

 

 

 

 

A.      Oldish notes:

 

(15 Nov Europe) Signalling, EURCHF reading 16475 now for the below target of ‘14 Nov US’ section.

 

(14 Nov US) eurchf bottomed, as it seems. Catching a rally towards 16560 is possible if eurgbp keeps the closing at the high – which it will.

 

 

New Signal: Long GBPUSD @ 20651

                                                 

Currency:                              GBPUSD                        

Trade Objective:                  Short trend follower

Chart:                                     4HR                       

Trade Entry Validation:       16 Nov - 16 Dec           

Trade Volatility:                             Medium                

Trade duration once filled: min 1 Hr, max 10 days                   

Trade Selectivity:                 Long Side Only            

Spread Consideration:        Set the trade as it is below in its exact form

Before you trade note:                  N/A

         

                                         

Long 20651 target 30pips exact @ 20681

Enjoy Pound Trade.

Contact us for support in case we are stuck with the position

 

 

 

B.      ForexSurvivor Signal(s):

 

1.    (19 Nov) ForexSurvivor Weekly Newsletter: Long GBPUSD 20651; TP 30pips

2.    (09 Nov) ForexSurvivor Weekly Newsletter: Long GBPUSD 20930; TP 40pips

3.     (11 Nov) New Signal: Buy NZDUSD @ 7700 & TP 25pips

 

 

 

C.      November Closed Positions: 998pips up to this release.

                                                                       

1.     Mission Completed:      (20 Nov)        Buy EURUSD in the upper middle part

of 14700 (@ 14750) and TP 33pips.

2.     Mission Completed:      (16 Nov)        Selling usdchf below 11200 for 30pips

3.     Mission Completed:      (16 Nov)        Long USDCAD – 601pips (see 16Nov Asia)

4.     Mission Completed:      (15 Nov)        Long USDCAD 9701; TP 9722

5.     Mission Completed:      (12 Nov)        Long GBPJPY @ 21:22GMT  for 35pips

6.     Mission Completed:      (08 Nov)        NFP Long USDCAD 9350; TP 50pips

7.     Mission Completed:      (05 Nov)        Ftse sold @ 6488; TP 6400

8.     Mission Completed:      (05 Nov)        Dow J sold @ 13505; TP 50pips

9.     Mission Completed:      (06 Nov)        Long Silver 15.00; TP 15.40

10. Mission Completed:      (30 Oct)       Short EURAUD @ 15620; TP50pips.

 

 

 

ForexSurvivor is a dynamic trading concept that uses no stoploss, & instead its formula converts the stoploss onto an adding position of 2 levels, or reverses the trade within a max loss of an average so far within a year of 28 pips.

 

 

Anthony Samaha

Trading Engineer

 

*** The Potential Flows of Trading Information constitute my judgment and are not trading recommendations. ***