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  1. #1
    Administrator Martin Kay's Avatar

    Tip from the Geek - USD/EUR: Weekly Entry. Hang Seng, USD/JPY: Monthly 10-31/12/2012 !!!

    Hi guys, new tips by the geek - USD/EUR, Weekly Calls, Asian Markets on Monthly Calls.

    Originally posted by Michael Hodges. Visit Here.

    Euro Head Fake Opens Up New Entry Point

    Euro/USD
    Call/Put = Call
    Entry = below 1.2950
    Expiration = end of the week


    The Euro climb above the 1.3000 resistance was but a head fake. Last weeks tip turned out to be a bust but this week provides another opportunity. The Euro is likely going to remain volatile over the next week or two but I think we’ll get a bounce back up over 1.3000 by the end of the week.




    China Data Suggest Mild Rebound In Economy

    Heng Seng
    Call/Put = Call
    Entry = below 22,300
    Expiration = end of the month

    The Heng Seng index, and the rest of the Asian based indexes, climbed after new Chinese data suggests that the hard landing didn’t happen. Despite a drop in exports Chinese factory output and consumer spending both climbed in recent data. This expansion, coupled with other positive data from the region points to an increase in Chinese GDP and the potential for some positive surprises in the next quarter.

    The Heng Seng made new intra-day highs on Monday morning, which in the current bull market, I am taking as a good sign. Last week the index broke above long term resistance with a strong white candle. This indication of strength does not come with potential upside targets but next resistance is at 23,000 and 24,000. I am trading calls with end of the month expiration.



    Japanese Yen Set To Slide

    USD/JPY
    Call/Put = Call
    Entry = below 82.50
    Expiration = end of the month


    The Japanese yen is set to slide versus the dollar. The sluggish economy declined even further in the third quarter and sent the country into recession. This development will only bolster support for the incoming new leadership. Shinzo Abe and his liberal stance are prepared to enact what he calls “unlimited easing”. This call for more yen, on top of the efforts already underway by the BOJ helped to drive the yen to where it is now, about 4 points higher versus the dollar than where it was only a few months ago.

    Expectations of Abe’s succession to leadership of Japan is what drove this trade to 82.00. Conclusion of the elections on Wednesday should send it even higher. My long term projections for the USD/JPY trade take it all the way to 86.00. I am trading calls with end of the month expiration. This might not be enough time to take it all the way to 86 but I can always get in again.


  2. #2
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Eur/usd will most probably be bullish for today. USD is going to weaken but there maybe a few moves in favor of usd. I expect eur/usd to move above 1.3000. In current week, technical indicators r not in favor of eur/usd but trend is favoring CALL.
    USD/JPY = Buy for current week and buy for the current month. Fundamental and technical analysis r in favor of CALL.

  3. #3
    Senior Member Grae's Avatar
    Mmh. Im looking at eurusd going bullish. But at the same time, looking at the market volumes as we go towards the holidays.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by M.J View Post
    Eur/usd will most probably be bullish for today. USD is going to weaken but there maybe a few moves in favor of usd. I expect eur/usd to move above 1.3000. In current week, technical indicators r not in favor of eur/usd but trend is favoring CALL.
    USD/JPY = Buy for current week and buy for the current month. Fundamental and technical analysis r in favor of CALL.
    I agree that it may take more than a week for the EUR/USD trade to mature but I also think there are a lot of factors that could derail the trade if I leave it open to long.

  5. #5
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Grae View Post
    Mmh. Im looking at eurusd going bullish. But at the same time, looking at the market volumes as we go towards the holidays.
    If the FOMC gives us any kind of QE4 on Wednesday I think it will send the dollar lower versus the Eur.

  6. #6
    Specialist Member RCox's Avatar
    EUR/USD is coming into some major resistance levels now and while I do think this area will break eventually, it might be a good idea to take gains in this trade.

  7. #7
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    EUR/USD is coming into some major resistance levels now and while I do think this area will break eventually, it might be a good idea to take gains in this trade.
    Yeah, resistance is setting in but i still think this trade will hold until the end of today which is my expiration.

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