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what is the resistance for nifty?
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Nice to meet you
At the moment i am looking at two major resistance leves.
1- 4950
2- 5150
Also take a look at the range, above the 4950. The index could find it hard to climb higher if the U.S markets don't continue
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volatility should pick up :)take a look at the gold chart
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How low can the EUR/USD go?
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it really depends on what is going to happen with Greece. On one hand officials want to help the country, but they have to be carefull. One bail-out could lead to others.
The Euro is in need for a correction, that is for sure. But in this market anything can happen :)
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on friday, as it was posted there
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Hey Adam how r u? :)
At last found u in the forum.
What do u think about tendencies of EUR and GBP relative to other currencies?
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How is it going?
Hope you are taking it slow :)
About the EUR GBP question, you are going to have to be more specific on that. Meaning the Euro against what?
Anway if you are talking in general, western Europe is still weighing on the Euro ( Mainly greece). The pound is holding up due to inflation problems, but in my opinion there is no chance they will be able to raise rates. That is why its stuck in a massive range.
I think things will stay stagnant up until the Fed's rate decision next week. Until then keep in mind that on the both the pairs we could receive a minor bounce, esspecially after the massive drop.
If you have any further questions feel free to ask
Adam
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Hey Adam
Hope you had a nice weekend. About the EUR/GBP
How low do you think it can fall?
Gort
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Didn't have time to get back to you on that
check out today's market report,
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How would you time the trade?
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Or if you are more of a risk taker, enter with a tight stop. Just remember, however you trade always use a stop-loss
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so far the trade is going well
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Would you class the current level on the USD/JPY as a break of its upper trend line?
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I would also be carefull as this week there is hardly any volume
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Hey everyone,
Hope everyone had a great holiday. I think market activity should pick up today.
Just wanted to know if there are any expectations going forward?
Focusing on the U.S Dollar
Thanks
O
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You can find it on the main home page
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Just to remind you all that there should be much volume this week
Hope you all have a great week
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and why are the Dollar and stocks now rising?
Isn't there meant to be a negative correlation?
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There was a correlation, but since last month it has now dissapeared. Stocks are now rising on improving economic data, while the Dollar is climbing due to expectations of a change in the Fed's policy.
By the way cool site, keep up the good work. Love the chart of the day and econ-graphic.
Shmili
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Regarding the Dollar thing Shmili is right
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Its been pretty quiet due to the holiday season
I think that the U.S figure will have more of an influence on the session. I think we should focus more on that
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The U.K GDP blew over quietly, showing a -0.2% figure, compared to an expected -0.1%
Now comes the major mover
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to ahead of the NFP result?
Thanks
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Yesterday's comments from Trichet indicated that he is now leaning towards monetary tightening. This could be positive for the Euro. On the other hand we have today's NFP result. A worse than expected result could help the Dollar, but as the markets are anyway pricing higher rate hikes, we could see a similar pattern like last month
A higher unemployment rate - stocks and Dollar counterparts continued to climb
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I have opened some historical charts and noticed that sometimes the Dollar trades in the same direction as the stock market.
At the moment we are seeing a negative correlation, but will that last?
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We have seen this correlation for quite a while now.
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It really depends on the stage of the cycle
Over the last year we have become accustomed to it, but it doesn't always work like that
We might see a rising Dollar and rising stock market
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the trend still looks bullish, but traders are pesimistic going forward
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Why the EUR/USD?
I also noticed that there was a massive rally last year.
Why not on the AUD/USD?
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Last year's massive rally was really due to the status of the Euro. Remember that the Euro is sometimes classed as a safe-haven against a depreciating Dollar.
In addition it is the second largest traded currency, after the Dollar, so investors prefer the Euro
Lets see what happens this year, might be different
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the question is whether sooner or later.
I still believe that there is room left in this rally but the risk reward isn't that good at the moment
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i have closed most of my positions.
Now just on a few
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For example, on monday i took the GBP/USD higher and placed a stop, but on Tuesday i got stopped out, only to see it climb back throughout the trading day.
It was really dissapointing as i can now see that my trade is going how i planned.
Where should i place my stop?
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Hey Mike,
First of all its great that you placed a stop, cause look what happened yesterday.
The Pound failed to break higher and dropped under resistance.
About stop - that is the million Dollar question.
Where to place? Too close will often get hit, too far can result in a heavy loss.
I normally give myself quite a lot of room when trading Forex, due to the volatility.
There are many ways to place your stop; beneath prior lows, by using a moving average, or a fixed percentage
Its all trial and error
Hope that helped
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