Forex rebates on every trade - win or lose!

I think it might be helpful if you guys were to pull up a 3 year daily USDX chart to help understand what's going on here. Although cable and fiber pushed to 26 year highs recently, USDX at the time barely breached the low from 31st Dec 2004 so that, imo, can be considered as very strong support. On the other side of the coin, there is a mega downward slopey doodaa from November 2005 which is providing resistance to the Dollar at around 82.2 or 82.3.

Something's going to give over the next few days or weeks. I don't know which way it'll go, but it's my guess that it'll set the tone for the next 12 months or more.

Shorter term, it's my guess that there's more upside to the Dollar and we'll see the downward doodaa tested.

GBP / Yen 229-230 might be a good long entry area for the brave.

f.........especially if you look at the daily candles!

Looked to short usd/chf this morning, put an order in at 1.2200, but hasn't gone back up there........yet

feel we are due a bit of a correction, still holding my eur short

GBP / Yen 229 almost ..Wondering if that was the low...

EDIT: it wasn't :-(

WOW.......

Indexes sedate compared to Forex

USD / Yen ranging 300 pips

GBP / Yen ranging nearly 700 pips

gbp/ jpy 224

usd / JPY 113

who would have thought it 24 hours ago...

Well, what a day !

Peru earthquake, FTSE down over 4%, hundreds of pips move on the yen crosses, Dean upgraded to hurricane status, Moody's indicating the possibility of a large hedge fund collapse and now a tsunami alert for Japan's Pacific coast.

What next !

It's armageddon time....... :-)

cable (temporary) bottom or only getting back as high as 9770/80?

Hils / Choccy 0.5% cut in discount rate....your thoughts?

Seems to be a bigger move in the equity markets...rather than forex...
Lifted gbp off its lows....

If the us had done nothing but instead uk raised rates 0.5%...ie same differential..
we would be over $2...

OK folks, next week's Interactive Events Calendar posted.

All the little mini charts have been stuck for a few days. Anyone know why? I quite like them.

SC: Actually, it's not all of them, looks like its just the 5 minute EURUSD and GBPUSD. Judging by the flatlines on the other 5 min charts, there may be some technical problems back at Forexnews.com from whence these charts are sourced.

Thanks MM, I knew it wouldn't be this end that was up the spout.

Tried to get back into cable with a couple of shorts (70 and 85) - just closed for flat - so niether one way nor t'other. Keeping an eye on it but not busting a gut - I suppose I should really be looking to go long :(

From TradeThe News :

GBPUSD at session low on rumours that a UK insurer may be in trouble.

UBS amends USDJPY 1 month to 115 v 119 and 3 month to 112 v 117 amends GBPUSD 1 month to 1.97 v 1.98

Long cable from 19770 and 65 - GULP ..... a bit rusty from playing with the indices.

I like this one :

West LB CEO says German banks having trouble getting foreign credit, repeats WestLB has no liquidity problems.

Says that the situation for German banks is "Not Uncritical"

So it's not actually critical then ;-)

UBS analyst comments on commercial paper market - Notes that Commercial Paper has $550 Billion Coming Due within 90 days.

Article cites that the The $1.1 trillion market for commercial paper used to buy assets from mortgages to car loans has 'seized up' just as more than half of that amount comes due in the next 90 days, according to the Federal Reserve statistics.

Article notes that unless issuers of cp find new buyers, hundreds of hedge funds and home-loan companies will be forced to sell $75 billion of debt backed by mortgages.

Sounds like fun !