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efcdf981-d7a0-4345-91f1-71e216ccba43

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ForexSurvivor Octopus Index

Thu, Nov 6 2008, 13:29 GMT
by Anthony Samaha

ForexSurvivor

1 minute with ForexSurvivor

A.        (06 November US) Latest Impact: No Way to Go

            Currencies to perform ‘no way to go’ trend which holds the consolidation mood in the next 24hr even though interest rates are released and eyes were on ECB.

The market will hint for the NFP release tomorrow to try to configure a new corrective trend, and since it is going to be Friday (Mafiosi day) with the strict familiarity that NFP is performing very oversold (bad figure), most traders will have the buy euro side because the US economy woes are there, forgetting the little effect of the interest rate that has been released today, and as such, the rally may not sustain to surprise the mass long positions set.

ForexSurvivor Octopus Index is irrelevant to Fundamental data, how?

Thursday 06 Nov Fundamental data: BOE cut interest rate 150bp, to 3%

            The detailed statement, located at the main page under ‘$5M Statement’ link, entails specifically that ForexSurvivor Octopus Index doesn’t pay attention to any fundamental data timing no matter how important that data is. You may notice that BOE interest rate was released today, and all GBP trades (gbp crosses) occurred before the release of the interest rate, one gbpchf trade entered the limit order exactly at the release (Long 18467) and closed its target within less than 10mn, while gbpjpy was opened during Asian session and closed its target after the release of BOE rate. Check ‘$5M Statement’ link at the main page.

B.        Signal

n/a

Limit Order Valid till 07 November

C.        Mission Accomplished:

n/a

Position(s) Closed

D.        The Potential Flows of Trading Information constitute my (Anthony Samaha) judgment and are not trading recommendations. ****

Published on  Thu, Nov 6 2008, 14:35 GMT