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  1. #1
    Administrator Martin Kay's Avatar

    Hot New Tips by Richard - EUR/GBP, FDX. Monthly Expiry 04-11/02/13 !!!

    Hi guys, Richard's new weekly market analysis is here!
    He gives an interesting outlook of the new week, with less data than the previous week, but with most uncertainties and potential surprises in the market. Check it out!


    Originally posted by R.Cox. For the full trading briefing click here.

    The lack of market data next week puts these rallies in a vulnerable position, as it is increasingly likely that investors will look to take some profits at elevated levels and bring a much needed correction to the one-way rally. The major event risks that we will be seeing will come from central banks, with the RBA, ECB, and BoE all scheduled to release interest rate policy decisions. So while none of these meetings is expected to result in a change in rates (outside possibility in the RBA decision), the general tone of the accompanying statements could sway markets depending on how optimistic or pessimistic these statements sound.

    1. The massive rally in the EUR/USD is trading on borrowed time but has not been matched in other currency pairs, such as the GBP/USD. This suggests more potential upside in the GBP relative to the EUR, and this means downside in the EUR/GBP. Based mostly on technicals, I will look for long term monthly PUTS in EUR/GBP at 0.8750, looking for a run back into the low 0.80s.

    2. I bought Fedex on the way up and now I will look to bet against the latest strength, as holiday optimism comes to an end. I will enter into monthly PUT options in FDX at 103, looking for a bear correction back to the daily moving averages.

  2. #2
    Active Member pipshunter's Avatar
    That’s great Richard! EUR/GBP looks very prominent for a monthly call!

  3. #3
    Specialist Member RCox's Avatar
    The EUR/GBP trade is a PUT buddy, its been on an extreme upward move and this hasn't been matched in the GBP. This trade is looking for a correction.

  4. #4
    Legendry Member willyw's Avatar
    Quote Originally Posted by RCox View Post
    The EUR/GBP trade is a PUT buddy, its been on an extreme upward move and this hasn't been matched in the GBP. This trade is looking for a correction.
    EUR/GBP DAILY as of Wednesday, 06 February, 2013
    The close is currently
    ABOVE its 200 daily moving average
    ABOVE its 90 daily moving average
    ABOVE its 30 daily moving average
    The current market condition for Euro Dollar / British Pound is Very Bullish
    Breaking the 30 day MA would turn the trend.
    Daily Pivot Point
    Resistance 1: 0.8720 Resistance 2: 0.8770 Resistance 3: 0.8904
    PIVOT POINT: 0.8636
    Support 1: 0.8586 Support 2: 0.8502 Support 3: 0.8368
    Target Price Projection**
    Having reach a Daily bottom 63 days ago at 0.7962, prices are currently moving upwards.
    TARGET 1: 0.8416 (Moderate Retracement)
    TARGET 2: 0.8697 (Extension)
    TARGET 3: 0.9151 (Extension)
    Time Projection
    Est. Trend Projected Time: about 114 days
    EUR/GBP is still a buy with immediate projection at 0.8720. If price is to move below 0.8502 should stop out.
    Attached Thumbnails Attached Thumbnails eurgbp-ma-d.jpg  

  5. #5
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by willyw View Post
    EUR/GBP DAILY as of Wednesday, 06 February, 2013
    The close is currently
    ABOVE its 200 daily moving average
    ABOVE its 90 daily moving average
    ABOVE its 30 daily moving average
    The current market condition for Euro Dollar / British Pound is Very Bullish
    Breaking the 30 day MA would turn the trend.
    Daily Pivot Point
    Resistance 1: 0.8720 Resistance 2: 0.8770 Resistance 3: 0.8904
    PIVOT POINT: 0.8636
    Support 1: 0.8586 Support 2: 0.8502 Support 3: 0.8368
    Target Price Projection**
    Having reach a Daily bottom 63 days ago at 0.7962, prices are currently moving upwards.
    TARGET 1: 0.8416 (Moderate Retracement)
    TARGET 2: 0.8697 (Extension)
    TARGET 3: 0.9151 (Extension)
    Time Projection
    Est. Trend Projected Time: about 114 days
    EUR/GBP is still a buy with immediate projection at 0.8720. If price is to move below 0.8502 should stop out.
    I would like to point out that Richard has been pretty good at trading the currencies. It looks like the EUR/GBP was a put this week, too bad it didn't bounce high enough first for Richard to get in as posted. Hopefully you jumped on when the train was leaving the station. I may look for a secondary entry, it won't be the first time I have piggy backed a trade on a tip you've given.

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