Forex rebates on every trade - win or lose!

Wot! No magic formula! I'm off then.......

Thanks Hils, I must admit I feel I'm nearly there.

Still only small positions but at least I'm keeping my head above water now rather than losing money. I had noticed the falling res line as well. Still a bit more work to do on the other indicators though. Thanks :-)

Hilary your last 2 posts show us why this thread won the "thread of the year award"....

And I thought it was only because of the piccies of my legs, D.

:o)

they are a close 2nd.... lol

just gone long at 1.9485 off the support from 1.8500 this is 4th touch.
..had to whip out my 8 hour chart for that...

you guys are much much cleverer than i, so your thoughts please ......

on the basis that US GDP looks to be growing faster than anticipated, it follows that US interest rates are certainly less likely to fall.

however, do you now feel that 1.95 is about as strong as $ will get - i.e. it's a pretty good level at which to short (hedge in my case)?

It is for now, cynic ;)

Stopped out at 1.95 :)
Nice one, foale :)

shame i did not follow my own gut feel at 1.95 ...... trouble is i have even less of an understanding of forex than i do shares ...... our biz always has surplus $ - i.e. we always have to sell some to meet or commitments - so would not really be gambling, merely hedging.

i suspect that after this initial flurry of strength in $, that the longer term downward trend will be resumed, and certainly would not be surprised to see 2.00 breached before year end, and perhaps even as low as 2.05+

The Federal Open Market Committee's statement Wednesday in connection with its decision to hold its target for the federal funds rate at 5- 1/4 percent:



Recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market. Overall, the economy seems likely to expand at a moderate pace over coming quarters.

Readings on core inflation have improved modestly in recent months, and inflation pressures seem likely to moderate over time. However, the high level of resource utilization has the potential to sustain inflation pressures.

The Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Susan S. Bies; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Cathy E. Minehan; Frederic S. Mishkin; Michael H. Moskow; William Poole; and Kevin M. Warsh.

Afternoon - not traded for a day or two and no position at the moment.

Tempting to long Cable but I'm a little wary. I've got no upside targets so wonder if the high is in for the day.

Will watch and wait though need to go out soon.

Afternoon. The Bund failed to follow through when Bernanke read
the market a bedtime story about Goldilocks. So waiting to see
how far this bounce goes before looking for a short again.

The trade I would have taken, as said on Monday, would have been
stopped out where I would have moved my stop to at approx evens.
So nothing lost in the end.

Still suffering with this damn virusy buggy thing. Mrs Mel has gone
down with it now, so she's snuffled off to bed, nicking all my balm tissues
and lemsips on the way. ;-(

On a brighter note, Miss Mel's interview with the CEO seemed to go ok.
Just waiting for a letter, due sometime next week, to see if she gets
offered a position and if so which one.
I've told her that although I'm confident for her, not to count her chickens,
(yeah I know, cautious Mel again :-) ) but she's insisted on dashing out
and spending mega bucks on some suitable power dressing (must be a woman
thing) :-)
She reckons that even if this falls through, her contacts now have 2 more
investment banks waiting in the wings.
So who am I to rain on her parade. Proud to see so much self confidence,
really. :-)

Catch you later. (snuffle, snuffle) :-(

Afternoon, really Miss Mel does well, keep us posted - oh and get well soon.

I have small long running from 9650, stop is below entry. What to do, what to do?

I have a broken downtrend running from the high of the 23rd and 30th. Gotta go, 1.30 beckons.

Mel - is this your daughter's first job?

Apologies for not keeping track - we are in the midst of fairly major building works and I haven't been on the pc much (partly ue to having no broadband for a week - I told AOL I was moving & they cut me off 2 weeks early)

No, Sue, not by a long way.

She was very successful, and well known, in a totally different field.
But then leukemia and a bone marrow transplant turned everything
on it's head.

Whilst recovering, she went back to university and got her degree, which
she'd put on hold whilst pursuing her dream.
She's now back in the picture, attacking new goals with all guns blazing. :-)

Got stopped out +20. Better than a poke in the eye with a sharp stick :-)

Cable has to break 1.9730s for me not to think short, for today anyway ;) and 1.9760s to have another crack at 1.99.

Choco: IMHO, it won't do it. Your conventional wisdom says a break above 1.9751 is your bull thingie. It's had a poke towards it, though . . .

Guess that's why I'm short again Dezza :)
I've come to rely on NFPs and revisions doing the biz.

I have to say agree with Choccy...short to 1.9520-50 area...then re think...
the recent highs (1.9740-50) just getting smacked...

Its certainly not clear cut though

still lookng for that down...move