Forex rebates on every trade - win or lose!

Cable holding just above huge trigger

We're in for an interesting battle in cable. If it holds above 1.9615 for the next week and below 2.0615, the holder of a double-no-touch option stands to collect GBP 20 mln. If the seller of the option, likely one of the big US investment banks, a UK clearer or a European mega-bank, wants to avoid paying out that big chunk of change, it may be willing to spend a few bucks trying to drive cable below 1.9615. That way it gets to pocket the premium and avoid the paying out on the lottery ticket. Look for good two-way flows as both the holder and the writer of the option protect their interests. If 1.9615 holds, be prepared for a nasty short-squeeze as the writer needs to buy back the cable sold in an effort to trigger the barrier. Cable trades now at 1.9625.

Anybody trade with Twowaymarkets?

They seem to have tight spreads but don't know about trading platform, reliability etc.

A lot of pairs today had a lot smaller daily range than usual.

Think we're winding up for some big moves.

Foxie - I registered with Twowayspreads a while back. Not done anything with it, and their logo looks the same, so I guess they're connected to Worldspreads too, although at a quick glance I can't see anywhere that says so.

Thanks chocolat,

Worldspreads? Are they well known?

2ws is owned by Ws. It's called white labelling.

FF I use GFT good platform nice charting package, been with them for two years they seem ok 4 pip spread on cable though, also use FXCM no problem, GFT have a Spreadbet platform as well, 3 pip spread on cable.

Thanks Divetime.

I'll put them on my list to checkout.

Anybody else have good experiences and recommend a broker worth opening an account with?

I'm long Euro from earlier this morning.

Think it may have a go at it's all time highs again today. We shall see.

I'm long cable from earlier as well. I have a descending channel on H4 with a top very roughly around 1.98 for today - haven't got time to post a chart again. We'll see there as well.

Out of Euro for a nice few pips. Looking to re-enter on a retrace.

That's me out by limit for 100 pips @ 1.9783 :-)

I think both Euro and cable look like they have further to go, but am happy with my profit too. Only 95 pips for me though ;-)

Having a great day here.

U2 playing in background and my USD/CHF short limit just triggered for another 100 pip profit.

It's great when it's like this!!

1.9831 looks to be today's magic number. Has it got the legs to clear it this time?

If not Hil, I'm sure you have ;-)

These legs, MM? I've given up the fitness regime and let myself go a bit since I last saw you.

Those are indeed the legs, Hil. I have mixed feelings about the boots, though . . .

Yeah, ride on cowboy.

Inflation to remain above target next year as well: Weber


Buba chief Weber continues to burn up the wires, saying the G7 statement on FX speaks for itself. "Some" FX moves are of concern, he says, and that excessive FX volatility is not good for growth. The market is seizing on the hawkish bits, as usual, as Weber says that inflation will likely stay above 2% in 2009 by a significant margin, implying rate cuts are off the table for the remainder of the decade, if taken at face value. EUR/USD is on the rise again, amid reports of buying by a Mid East account. It trades at 1.5910.

Portrait of a EUR/USD short-seller on the G7 statement


A reader was kind enough to send along photographic evidence of his experience after selling EUR/USD Monday morning following the shift in rhetoric from the G7 on currencies.