Forex rebates on every trade - win or lose!

Anyone trying the 10 o'clock theory. Looks a possibility!

Beebs,

If you ignore the pre-FOMC rally, you can draw a nice falling resistance line picking out the highs of Wednesday, Thursday and Friday. It sold on resistance at that line this morning and is now off 100 pips or so.

It's now oversold and could either carry on down or rally at any time. An obvious stop if you're short (as I currently am) is to draw a resistance line down through the tops of the 5 minute candlesticks from today's high and cover on a break of that line.

thanks hilary for that,
lending figs quite positive i thought,
so will be having a go at the 10.00,
which did work yesterday, but only very small movement

good luck hodgins - i'll post when i'm in

long @ 69 - too soon
stop @ 179.95

stop moved to 180.30

Nice call Beebs.

tks hilary - i'm speechless !

stop moved to entry

added some more @ 180.96

hmmmmm, over confident there

Beebs,

The EUR/USD cross seems to be providing the general market direction atm and the trade is in the Cable because of the increased volatilty.

Watch the because it's currently moving up to 3-day resistance and could give a clue as to direction for the next few hours.

much appreciated hils, XXX
- at least one lots in profit

bit of resistance here (181.10), but still got theory intact,
10.00 180.62
10.30 180.88
11.00 181.08

negative leg
11.30 181.02
30 minutes to go,
then anything can happen....

Call me a coward, Beebs, but there are too many conflicting indicators at the moment for me to enter the market with any confidence one way or the other.

know what you mean, it's not easy, but i'm only trading very small,
bit more fun than equities at mo

Pushing hard against the downtrend line from the intraday tops.

If it breaks through I see resistance at 1.8156 (the 61.8% fib retracement from Tuesday's low to Wed's high). This formed a strong support line during the early hours' trading today.

found that last leg a bit of a struggle, but stayed with it
12.00 181.08

so that's 5 days out of 5 now i've been monitoring it,and today it produced
+46 points
trading's all about recognising patterns, and this seems to be one,
but if any lurkers out there are trading it, BEWARE ,
it wont last forever,
but it's good fun while it does !
moved my stops up to lock in some profit.

LONDON (AFX) - The dollar remained relatively firm in midday trade ahead of this afternoon's US economic data, analysts said.

The key reports today are the advance reading for fourth quarter US GDP and January's Chicago PMI survey.

The former is expected to show an annualised growth rate of 4.9 pct compared with the massive 8.2 pct experienced in the third quarter, while the latter is expected to rise to 61.5 pct from 59.2 pct in December.

'A strong (GDP) number is likely to trigger another test of this year's euro lows around 1.2330/35 and could precipitate the final down move for the euro,' said Margaret Browne, currency strategist at HSBC USA.

Also weighing on the euro has been disappointing euro zone data, in particular the 2.3 pct monthly decline in German retail sales in December. The French December unemployment rate of 9.7 pct also disappointed.

'Today's US data should be in sharp contrast to that of Germany and France where domestic data was weaker than expected,' said Browne.

Further subdued news came from the European Commission's survey into euro zone economic sentiment. The main indicator indicator only rose to 95.8 in January from 95.6 in December.

Overall, market commentators expect the dollar to remain supported in the short term as the expected strong US data cements US rate hike expectations going forward.

'The technical outlook for euro/dollar remains bearish whilst capped below 1.2469 and the key support level will be 1.2330, the previous low set on January 16,' said Sabrina Jacobs, currency strategist at Dresdner Kleinwort Wasserstein.

Further out, the dollar's fortunes will depend heavily on the outcome of next weekend's G7 meeting, analysts siad.

Elsewhere, dollar/yen remained established within the 105.80-106.20 range.

The key reason was further Japanese economic data overnight indicating further economic improvement in the overall economy, offset by continued fears of Japanese intervention.

Unemployment in Japan fell below 5 pct in December, while housing starts remained strong.

Sterling was on the backfoot against the dollar for the same reasons as the euro.

substantial resistance again at 181.10