Forex rebates on every trade - win or lose!

WOW !!
:)

chocolat, it's not too late, I can always get another $100 if you're coming.

SHORT-TERM FORECAST ON FOREX MAJORS Friday, January 28, 2005 4:21 GMT Daily Report by BetonCurrencies http://finance.groups.yahoo.com/group/BetonCurrencies/   Short-Term Forecast on Forex Majors For over 60% winning trades, please go to our website everyday. Currency Pair Short-term Trend Trading Strategy GBP/USD lower sell USD/JPY higher buy EUR/USD lower sell USD/CAD higher buy USD/CHF higher buy AUD/USD lower sell EUR/JPY higher buy EUR/GBP higher buy GBP/JPY higher buy GBP/CHF higher buy EUR/CHF lower sell NZD/USD lower sell

By BetonCurrencies Web: http://betoncurrencies Email: betoncurrencies@yahoo.com

General Outlook:
Price: 1.8885

Resistance: 1.8927 ... 1.8943 ... 1.8980 ... 1.9036
Support....: 1.8843 ... 1.8820 ... 1.8792 ... 1.8745

Bias: Cautiously while 1.8840-50 supports there is room for a rally to 1.8983 at least and possibly 1.9036

Bullish: This morning's break above 1.8885 to reach 1.8927 appears more bullish. Thus we would like to see 1.8840-50 providing support here to allow further gains to be made. Back above 1.8927 would allow a move to 1.8983 at least and we feel to the 1.9036 Fibonacci resistance.

Bearish: With the break of 1.8885 we feel the downside needs to be put on hold. We see support at 1.8870 which could hold and then again at 1.8840-50 and a breach of this area is required to generate weakness for the Pound. If seen we would then expect losses to continue towards 1.8792 at least and probably down to the 1.8735-55 pivot support area.



Elliott Wave Comments:
28th January 2005

The break of the 1.8885 resistance tends to suggest that the 1.8524 low actually provided an end to the first part of the decline. This would imply a complete pullback to the 1.9548-1.8524 decline with resistance seen at 1.9036 (50%) and at 1.9157 (61.8%) at least.

The only risk to this is that the move since the 1.8644 low has been an expanded flat correction which would imply a cap around 1.8936. However, we tend to give this lo risk weighting.

Daily updates on Australian Forex Market from CMC Group Asia Pacific
AUD stayed firm on rate speculation

The AUD struck a fresh three-week peak around US$77.80 US cents on Thursday, buoyed by speculation that Australian interest rates could rise this year. Earlier, the Reserve Bank of New Zealand held its cash rate at 6.5 per cent as expected, but warned further rate rises may still be needed and said there was little scope for easing. During the US session, a better-than-expected US economic data did not threaten the Aussie buyers, but still held firmly on the topside range within US$0.7730 and US$0.7780.

The EUR was down around 0.5 per cent and touched as low as US$1.3011 from intraday highs of US$1.3124 on the dollar's recovery with better-than-expected US economic data. Traders tended to take profit with the Group of Seven meeting looming next week as well as other major events like the Iraqi elections, a Federal Reserve decision on interest rate and US employment data in the coming days. Those events led the foreign exchange market without conviction and firm direction.

The pound stayed firm against the greenback and traded within a topside range of US$1.8800 and US$1.8880 and finished at US$1.8860 in New York close on Thursday. Comments from the Bank of England and data showing a rise in house price cemented expectations that interest rates would remain unchanged. BOE MPC member Stephen Nickell said on a paper released on Thursday that British goods prices may soon start rising, ending a long period of deflation. A survey from the Nationwide building society showed that house prices increased a seasonally adjusted 0.4 per cent in January.

The dollar strengthened across the board and recovered from yesterday's lows of 102.75 against the yen to highs of 103.53, with above consensus US economic data in durable goods orders and less-than expected jobless claim on Thursday. Markets are still focused on any calls for the yuan's revaluation to take place in G7 meeting next week. Many analysts expect some form of change in the yuan's peg to the dollar, either by widening the currency's thin trading band to a few per cent either way, or by dropping the dollar peg in favour of a currency basket.

Gold fetched US$425.60/26.00 into New York close from session highs of US$428.00 on Thursday amid the latest US data for new orders for durable goods rising 0.6 per cent in December against expectation of a 0.5 per cent gain. Silver traded in a tiny range of US$6.80 and US$6.70 an ounce.

morning most, did you get some sleep last night

USD/JPY
Intraday Range Forecast: 102.85 / 103.15
R: 103.20/103.54/103.92
S: 102.37/102.02/101.67

EUR/USD
Intraday Range Forecast: 1.3030 / 1.3060
R: 1.3072/1.3125/1.3191
S: 1.3010/1.2973/1.2944

USD/CHF
Intraday Range Forecast: 1.1820 / 1.1850
R: 1.1883/1.1900/1.1942
S: 1.1803/1.1779/1.1748

GBP/USD
Intraday Range Forecast: 1.8865 / 1.8895
R: 1.8940/1.8981/1.9012
S: 1.8870/1.8837/1.8794

AUD/USD
Intraday Range Forecast: 0.7755 / 0.7785
R: 0.7814/0.7845/0.7900
S: 0.7730/0.7681/0.7650

EUR/JPY
Intraday Range Forecast: 134.15 / 134.45
R: 134.83/135.48/135.75
S: 133.78/133.62/133.01

EUR/GBP
Intraday Range Forecast: 0.6890 / 0.6905
R: 0.6925/0.6964/0.6981
S: 0.6893/0.6873/0.6843

EUR/CHF
Intraday Range Forecast: 1.5440 / 1.5465
R: 1.5509/1.5515/1.5548
S: 1.5436/1.5401/1.5379

not bad jm up @ 4am.. so average working out....:)

think chcco got a good shrt on last night above 89 sdomewhere.i just cudnt keep me eyes open so just left it..

think your right, I'm short EUR/USD 1.3045.

Off to work,

later

EUR/USD

Important support was found in the 1.302 area. First important resistance level is seen at 1.3103.
Current quote is 1.3049

Recommended trades:

Long at 1.303, t/p @1.3115, s/l @1.3

USD/JPY

Resistance is seen in the 103.30/35 area (the trend line of 103.7 thru 103.421 high).
The dollar will probably drop towards 102.50 area after setting the highs for today.
Current quote is 103.17

Recommended trades:

Short at 103.50, t/p @102.75, s/l 103.80

--

short cable @ 66 s/l on

and what happens it starts going north drat,but will keep it open :-)

ok megg i think cble looks bid above 50 see the posts i put up first thing about cable..

yep got it,will let it run mos though and many thanks me old mate for all the info you send each day !!!

Mega...

okmega no probs mate.. got us. figs out today and could change everything..

Morning all. Problems with computer this morning. Everything looking choppy; will wait to long Euro/$ at 1303 or short USD/Yen at 103.50. Anyway, that's the plan...

Have been reading robbooker's free lesson on Bollinger Bands - sorry, but not impressed. Why do you need the Bollinger Bands to see that volatility is increasing? You can see this tick by tick. I know - I'm out of touch with everyone else!

Don't you just love the way ticks hiss when you chuck them on the fire ;)

covered cable short @ 60

maggot ,thers no right and wrong way,i odnt use bollie, just find smething u feel comgy with
mega:)

It's a long way for me to go for lunch, Addo ;)