Forex rebates on every trade - win or lose!

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

well didnt take long that time !
Dont know which is more exciting, the legs,
or still being long

100 pts in 2 mins !

Well done Beeblebrox, I moved stops ultimately too tight to go out and came back just as it shot up.

tks hodgins - moved stops now to 181.96,
about to be hit i think,
but for +100 and + 127 dont mind

wish i'd reversed - hindsight trading's easy though
didn't expect it to lose all the gains - well ,nearly

Beeb - well done. 227 points for the day is great work, especially with such a narrow range to work in. Be satisified with a good day's work and don't worry that you didn't get every penny out of the market. It could just as easily have broken through 1.8200 and wiped out your gains.

tks dc - best result for ages
trouble is losing over the equities side,
but not too much.
be testing the 'theory' again next week,
have a good w/e

I'm looking for a continuation of the Friday uptrend this morning.

There's a nice rising support line which can be drawn through the lows from Friday to act as a stop. On the negative side, there's some resistance at 1.8270 but I hope this should get broken in morning trade.

tks hilary.dont know how much of thursdays increase could be priced in,
but like you, i'm expecting an up week, would like to see 181.70ish
before 10.00 to give me courage to test the theory again - just possible

Beeb,

I wasn't looking as far ahead as 1 week. More like the next 5 or 6 hours.

:o)

so youre into short term relationships then
;~)

It's for buying and selling. Who mentioned love?

:o)

It needs some Va Va Voom today. It looks like it's champing at the bit ready to go soon, but I sure wish that it would hurry up .... I'm getting bored.

ditto - worse then ftse today
maybe the lull before the...