Forex Trading Signals

Asian stocks and oil decline

2011-07-25T11:21:00.001+08:00

July 25 (Bloomberg) -- Asian stocks and oil declined for the first time in five days, while Treasuries dropped and gold rallied to a record as President Barack Obama and Congress failed to reach a deal on raising the debt limit, intensifying concern the nation will default.

The MSCI Asia Pacific Index slipped 0.7 percent as of 11:31 a.m. in Tokyo. Standard & Poor’s 500 Index futures lost 0.9 percent to 1,328.30. Yields on 10-year Treasuries gained three basis points. The dollar sank 0.7 percent against the Swiss franc. It traded at 78.47 yen after earlier reaching a four- month low. Gold added as much as 1.4 percent to $1,624.07 an ounce. Oil fell 0.9 percent in New York.

U.S. House Speaker John Boehner told Republicans that there’s no agreement on a plan for raising the ceiling before a default threatened for Aug. 2, risking a cut to the nation’s AAA credit rating. As Democrats and Republicans endorsed dueling plans for raising the debt ceiling, China, the top holder of American debt, said it remains confident an agreement will be reached before the deadline, according to Xia Bin, an adviser to the People’s Bank of China.

“Stock markets around the globe will look to price in a greater uncertainty premium on account of political squabbles in the world’s largest economy and the increasing risk that it may lose its sacred AAA rating,” Mohamed A. El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co., wrote in an e-mail. His firm is the world’s biggest manager of bond funds. “A last-minute political compromise will avoid a default but will leave the AAA rating extremely vulnerable,” he said.

Japan, Australia

About seven shares declined for every two that gained on MSCI’s Asia Pacific Index. Japan’s Nikkei 225 Stock Average fell 0.8 percent, retreating from its highest level since July 8, and South Korea’s Kospi index slumped 0.8 percent. Australia’s S&P/ASX 200 Index slipped 0.9 percent.

Toyota Motor Corp. and Samsung Electronics Co. paced losses among the region’s exporters. CSR Corp. and China CNR Corp. plunged more than 6 percent in Shanghai after two high-speed trains collided in the eastern province of Zhejiang on July 23, killing at least 35 people and injuring 210.

The cost of protecting Asia-Pacific corporate and sovereign bonds from default increased, with the Markit iTraxx Asia index of 50 investment-grade borrowers outside Japan climbing 3.5 basis points to 116 basis points, prices from Credit Agricole CIB show. The gauge is on course for its first increase since July 18, according to data provider CMA.

‘Mini Sell-Off’

The Markit iTraxx Japan index climbed three basis points to 119 basis points, Deutsche Bank AG prices show. The risk benchmark is set for its first increase since July 12, according to CMA.

“The outcome of U.S. debt talks was one of the big concerns for investors, so this will trigger a mini sell-off in stock markets,” said Prasad Patkar, who helps manage the equivalent of $1.7 billion at Sydney-based Platypus Asset Management Ltd. “Failure to reach a debt deal would jeopardize the U.S.’s credit rating, and this has the potential to cause a seizure in global credit markets.”

S&P 500 futures fell, indicating the measure will decline after rising near a three-year high. The S&P 500 closed at 1,345.02 on July 22. When the measure climbed to 1,363.61 on April 29, it was the highest level since June 2008. The gauge rallied 2.2 percent last week as Europe pledged support for Greece to end the region’s debt crisis and companies from Apple Inc. to Morgan Stanley beat analysts’ earnings projections.

Stocks Whipsawed

Negotiations in Washington over the nation’s debt limit have whipsawed U.S. stocks. The S&P 500 jumped 1.6 percent on July 19, the biggest gain since March, amid optimism Obama and congressional Republicans would agree to raise the ceiling before an Aug. 2 deadline. Stocks fell the next day on concern a Senate plan to help the nation avoid default faced resistance from House Republicans.

Treasuries extended last week’s decline, the first in three weeks. Yields on benchmark 10-year notes rose three basis points, or 0.03 percentage point, to 2.99 percent from 2.96 percent on July 22, according to Bloomberg Bond Trader prices. That’s below the five-year average of 3.71 percent.

“The U.S. should avoid default but may get downgraded by the ratings agencies if the White House and Congressional Republicans are unable to agree on significant medium-term fiscal tightening,” Mansoor Mohi-uddin, the Singapore-based chief currency strategist at UBS AG, wrote in a note to clients.

Veto Threat

Republicans prepared to force action on a shorter-term extension of the limit than Obama has requested, defying a veto threat. The president would block a measure that doesn’t extend the limit into 2013, White House Chief of Staff Bill Daley said in an interview on NBC’s “Meet the Press” yesterday.

Daley warned that “markets around the world” would react negatively to a short-term measure offering less than $2.4 trillion in borrowing authority. U.S. Treasury Secretary Timothy F. Geithner said he hopes lawmakers can agree on the framework of a debt-limit agreement because the House of Representatives must start deliberations July 25 to meet the Aug. 2 deadline.

“Sentiment is weak following the failure to reach debt deal in the U.S. but the market’s reaction is not as bad as previously expected because some investors bet the issue will be stitched up eventually,” said Chu Moon Sung, a Seoul-based fund manager at Shinhan BNP Paribas Asset Management Co., which oversees about $29 billion.

Both S&P and Moody’s Investors Service are weighing a downgrade of the U.S. credit rating. Even if the country defaults on some obligations after Aug. 2 and pays bondholders, S&P said short- and long-term interest rates would rise by 0.50 percentage point and 1 point, respectively.

U.S. Economy

The impasse may further aggravate the slowing U.S. recovery. The Commerce Department may say on July 29 gross domestic product rose at a 1.8 percent annual pace in the second quarter after a 1.9 percent gain in the previous three months, according to the median forecast of 69 economist surveyed by Bloomberg News. Home sales languished and consumer confidence dimmed, other data may show.

The dollar fell 0.7 percent to 81.38 Swiss centimes from 81.92 last week. It earlier fell to 78.12 yen, the weakest level since March 17. Japan’s monetary authorities “will take resolute actions when necessary” in the currency markets, Kyodo News reported Finance Minister Yoshihiko Noda as saying yesterday. Noda said today that he’s watching developments on the U.S. debt talks.

The Australian dollar weakened against 13 of its 16 most- actively traded counterparts and fell 0.5 percent to 84.86 yen as speculation that the U.S. may default sapped demand for higher-yielding assets. South Korea’s won retreated from a three-year high, dropping 0.1 percent to 1,053.48 per dollar.

Oil retreated to $99.04 a barrel on the New York Mercantile Exchange, following four straight weeks of gains. Immediate- delivery gold traded at $1,611.16 an ounce, up 0.6 percent, while cash silver rose 0.6 percent to $40.3237 an ounce. Corn for December delivery sank 1.9 percent to $6.7225 a bushel, while wheat slid 1.5 percent to $6.82 a bushel.

To contact the reporters on this story: Rita Nazareth in New York at rnazareth@bloomberg.net Shiyin Chen in Singapore at schen37@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

Find out more about Bloomberg for iPhone: http://m.bloomberg.com/iphone/

Othman Khamdani
HP 012-206 1433
eFax 03-6207 1670
email me@othmankhamdani.com
Web www.othmankhamdani.com

2011-06-13T22:15:00.001+08:00

TRADE SIGNAL - (USDCHF)

2011-05-12T23:52:00.000+08:00

TRADE SIGNAL - (USDCHF):
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Signal Time (GMT) : Thursday, 2011.05.12 16:22 GMT

SELL USDCHF @0.88432
Take Profit @0.88118
Stop Loss @0.88758

Please always use 1% balance per each open for Optimum Money Management
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TRADE SIGNAL GBPUSD

2011-02-25T18:57:00.001+08:00

TRADE SIGNAL - (GBPUSD):
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Signal Time (GMT) : Friday, 2011.02.25 09:37 GMT

SELL GBPUSD @1.60964
Take Profit @1.60825
Stop Loss @1.61475

Please always use 1% balance per each open for Optimum Money Management
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TRADE SIGNAL EURUSD

2011-02-23T18:53:00.001+08:00

TRADE SIGNAL - (EURUSD):
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Signal Time (GMT) : Wednesday, 2011.02.23 10:13 GMT

SELL EURUSD @1.36922
Take Profit @1.36774
Stop Loss @1.37424

Please always use 1% balance per each open for Optimum Money Management
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TRADE SIGNAL GBPUSD

2011-02-23T10:16:00.001+08:00

TRADE SIGNAL - (GBPUSD):
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Signal Time (GMT) : Tuesday, 2011.02.22 16:38 GMT

SELL GBPUSD @1.61129
Take Profit @1.61017
Stop Loss @1.61667

Please always use 1% balance per each open for Optimum Money Management
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TRADE SIGNAL - EURUSD

2011-02-21T23:01:00.001+08:00

TRADE SIGNAL - (EURUSD):
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Signal Time (GMT) : Monday, 2011.02.21 09:40 GMT

SELL EURUSD @1.36727
Take Profit @1.36582
Stop Loss @1.37232

Please always use 1% balance per each open for Optimum Money Management
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TRADE SIGNAL - GBPUSD

2011-02-21T22:54:00.001+08:00

TRADE SIGNAL - (GBPUSD):
------------------------------------------------------------
Signal Time (GMT) : Monday, 2011.02.21 10:02 GMT

SELL GBPUSD @1.62096
Take Profit @1.61948
Stop Loss @1.62598

Please always use 1% balance per each open for Optimum Money Management
------------------------------------------------------------

Trade signal eurusd

2011-02-21T22:51:00.001+08:00

TRADE SIGNAL - (EURUSD):
------------------------------------------------------------
Signal Time (GMT) : Friday, 2011.02.11 15:26 GMT

BUY EURUSD @1.35655
Take Profit @1.35787
Stop Loss @1.35137

Please always use 1% balance per each open for Optimum Money Management

- Posted using BlogPress from my iPhone

REVERSAL STRATEGY I (GBPUSD)

2010-06-10T23:46:00.000+08:00

Signal Time (GMT) : THURSDAY, 2010.06.10 15:05 GMT

Signal Time (WIB) : 2010.06.10 22:05 WIB

*** SELL GBPUSD @1.4671 Take Profit @1.4646

No Stop Loss, but close floating position(s) after 3-5 days

Please always use 1% balance per each open for Good Money Management

Dollar Rises on Speculation Gain in Jobs Will Sustain Recovery

2010-04-03T01:26:00.000+08:00

By Oliver Biggadike and Inyoung Hwang

April 2 (Bloomberg) -- The dollar strengthened against most of its major counterparts and climbed to a seven-month high versus the yen on speculation gains in the labor market will help sustain the U.S.’s economic recovery.

The greenback rose against 13 of the 16 most-traded currencies as the Labor Department said employers added 162,000 jobs last month. Canada’s dollar approached parity as the report fueled optimism that consumer demand in the U.S., the nation’s largest trading partner, will help boost exports.

“It’s a dollar move,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman & Co. in New York. “The dollar is cheap because it’s trading below fair-value models. And what does that mean? It means that U.S. labor costs are relatively cheaper compared to Europe, or maybe Japan, or the U.K. or Switzerland. And over time that affects business decisions.”

The dollar advanced 0.8 percent to 94.54 yen at 12:32 p.m. in New York, from 93.82 yen yesterday. It touched 94.69, the highest level since Aug. 24, and posted a weekly gain of 2.2 percent. The U.S. currency appreciated 0.8 percent to $1.3486 per euro, from $1.3589. It fell 0.6 percent on the week. The yen was little changed at 127.46 versus the 16-nation currency, compared with 127.50 yesterday.

Biggest Since 2007

The gain in employment, the biggest since a 239,000-job increase in March 2007, followed a revised reduction of 14,000 in February, a slower rate of job cuts than the government’s previous estimate of a decline of 36,000. The median forecast of 83 economists in a Bloomberg survey was for an increase of 184,000 jobs. The unemployment rate held steady at 9.7 percent.

Treasury Secretary Timothy F. Geithner said the payrolls report shows the U.S. economy is “getting stronger.” Business investment is expanding and exports are “coming back,” he said in an interview on Bloomberg Television.

Financial markets in the U.S., U.K., Australia and Hong Kong are closed today for the Good Friday holiday. Trading in U.S. Treasuries ends at noon New York time.

Futures on the CME Group Inc. exchange showed a 60 percent chance the Fed will raise the target rate for overnight lending between banks by at least a quarter-percentage point by November, up from 45 percent odds a month ago. The rate has been a range of zero to 0.25 percent since December 2008, and policy makers reiterated on March 16 it would remain low for an “extended” period.

Dollar Rally

The greenback climbed for a fourth straight day against the yen, its longest rally since the five trading sessions ended Feb. 18, according to data compiled by Bloomberg.

“Japan’s economy is recovering, but it’s still not strong enough,” said Amelia Bourdeau, a currency strategist at UBS AG in Stamford, Connecticut, who predicts a dollar rally to 95 yen in the next three months.

U.S. manufacturing expanded last month at the fastest pace since July 2004, the Institute for Supply Management’s factory index showed yesterday. It increased to 59.6, indicating quicker growth than February’s 56.5 reading. Other data showed China’s manufacturing grew at a faster pace and confidence among Japan’s largest manufacturers rose for a fourth straight quarter.

“As the U.S. economic outlook picks up, expectations for a rate increase by the Fed should rise,” said Susumu Kato, chief economist in Tokyo at Credit Agricole CIB and CLSA.

Canadian Dollar

The Canadian dollar declined 0.2 percent to C$1.0108 per greenback after earlier weakening as much as 0.4 percent. It was still near the closest to parity with its U.S. counterpart since July 2008.

The euro may drop to a 13-month low of $1.2457 should it complete a so-called dead-cross formation, Yoh Nihei, a Tokyo- based trading group manager at Tokai Tokyo Securities Co. said, citing trading patterns.

A chart of the 16-nation currency shows its 20- and 90-week moving averages are falling toward the 200-week indicator, suggesting a dead cross pattern will be created, Nihei said. A dead cross appears when a short-term average drops below a longer-term one and signals a security will extend losses.

President Barack Obama urged China to help balance global growth as strategists said President Hu Jintao’s decision to visit Washington this month increases the likelihood his nation will escape being branded a currency manipulator by the U.S.

In an hour-long call yesterday, Obama sought Hu’s support for Group of 20 pledges to sustain the global economic recovery and for cooperation to help stop Iran from developing nuclear weapons.

Hu’s presence at this month’s nuclear summit improves the chances China won’t be labeled a manipulator when the U.S. Treasury releases its biannual report on exchange rates, said China International Capital Corp., a Beijing-based investment bank that’s part-owned by Morgan Stanley.

The People’s Bank of China said in its 2009 international financial markets report posted on its Web site that the dollar will have only a limited rebound in 2010 because of the nation’s high fiscal deficit and low interest rates.

Undergoing MyBlogLog Verification

2010-04-03T01:22:00.000+08:00

Undergoing MyBlogLog Verification

Dollar Rises to 7-Month High Against Yen Before Payrolls Report

2010-04-02T14:53:00.000+08:00

The dollar rose to a seven-month high against the yen before a report that economists said will show the U.S. added the most jobs in three years, boosting demand for the nation’s assets.

The U.S. currency advanced versus 13 of its 16 major counterparts after data this week showed manufacturing expanded at the fastest pace in more than five years and applications for jobless benefits declined. South Korea’s won and Malaysia’s ringgit advanced as Asian stocks rose on reports showing the region’s economic rebound is gathering pace.

“The U.S. economy is clearly recovering bit by bit,” said Kunihiko Nakaji, chief manager of foreign exchange and financial products in Tokyo at Mitsubishi UFJ Trust & Banking Corp., a unit of the nation’s largest banking group. “The dollar will keep rising against the yen.”

The dollar climbed to 93.99 yen as of 7:22 a.m. in London from 93.82 yesterday in New York, after reaching 94.06, the strongest since Aug. 28. The U.S. currency gained to $1.3561 per euro from $1.3589. Japan’s currency traded at 127.45 per euro from 127.50.

Financial markets in the U.S., U.K., Australia and Hong Kong are closed today for the Good Friday holiday.

Payrolls Report

The dollar headed for a second weekly gain versus the yen before the Labor Department releases its nonfarm payrolls report today. U.S. employers added 184,000 jobs in March, after cutting 36,000 positions in February, according to a Bloomberg survey.

The Institute for Supply Management said yesterday its factory index rose to 59.6, the highest since July 2004. Applications for unemployment insurance payments dropped by 6,000 to 439,000 in the week ended March 27, the Labor Department reported yesterday.

U.S. employment shows “a slowing pace of deterioration that is about to become positive,” Federal Reserve Bank of St. Louis President James Bullard said yesterday. “The recovery is proceeding apace.”

Futures on the CME Group Inc. exchange show a 56 percent chance the Fed will raise the target rate for overnight lending between banks by at least a quarter-percentage point to 0.5 percent by November, up from 47 percent odds a month ago.

Higher U.S. Rates

“As the U.S. economic outlook picks up, expectations for a rate increase by the Fed should rise,” said Susumu Kato, chief economist in Tokyo at Credit Agricole CIB and CLSA. “Some people are thinking that it could happen by the end of this year, earlier than previously expected. The dollar will strengthen.”

The yen earlier rebounded from a two-month low versus the euro as the 14-day relative strength index for the pair increased to 67, close to the 70 threshold that some traders see as a sign an asset is poised to reverse course.

“As the market is very thin with many markets closed, investors are poised to take profit before the U.S. jobs data, causing the yen to rise,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. in Tokyo.

The won rose for a second day as Asian stocks gained after reports on exports and car shipments showed the economic recovery is taking hold.

Foreign investors purchased more Korean shares than they sold on all but one day since the end of February, according to exchange data. A government report showed yesterday South Korea’s exports rose 35.1 percent in March, compared with 30.5 percent in the previous month.

Buying Stocks

“Foreigners are buying stocks, and there is no reason for the won to weaken right now,” said Kim Yule, a Seoul-based currency trader at BNP Paribas SA. “The won will probably stay at the level of 1,120 for some time.”

The won closed at 1,125.85 per dollar from 1,126.25, completing a 1.2 percent gain this week. The ringgit rose 0.2 percent to 3.2490, extending this week’s gains to 1.7 percent.

The euro may drop to a 13-month low of $1.2457 should it complete a so-called dead-cross formation, Yoh Nihei, a Tokyo- based trading group manager at Tokai Tokyo Securities Co. said, citing trading patterns.

A chart of the 16-nation currency shows its 20- and 90-week moving averages are falling toward the 200-week indicator, suggesting a dead cross pattern will be created, Nihei said. A dead cross appears when a short-term average drops below a longer-term one and signals a security will extend losses.

“The euro may dip below $1.30 and test lower prices,” Nihei said yesterday. An ichimoku chart also indicates “the euro is still in a downtrend,” he said.

The euro slid 5.7 percent against the dollar last quarter, the biggest three-month drop since September 2008.

Europe is Still Under Pressure

2010-02-18T01:37:00.004+08:00

by Angelo Airaghi [Guest Analyst]

As global markets are sizing the Euro-zone sovereign risks and the Chinese reserve requirement, the U.S. economy is giving tangible signs of recovery. The U.S. dollar, in the mean time, is finding good resistance points at current levels.

U.S: Recovery unfolding
Bringing some order inside the troubled finances remains the main target this year in the United States and in Europe. Nevertheless, with the job market layouts having probably topped at current levels, especially in the U.S., consumer spending should rise in the coming months, albeit at a lower level compared to previous recessions.

In January, consumer spending moved up by 0.5% month-on-month, more than the expected 0.4%. December and November numbers were revised up as well. The first moved to -0.1% from -0.3% and the second jumped to 2.0% from 1.8%. January’s rise was broad-based confirming that households keep on spending even after the holiday season. Sells rose 0.8% excluding auto, gasoline and building equipment.

The housing market remains at contrary a corner stone of the U.S. recovery, but prices might struggle to find their way out of the bottom.Housing starts are stalling, also due to the adverse weather conditions, although the uptrend should continue. The Federal Reserve will maintain the gradual removal policy, as the initial step toward higher rates that could materialize later in the year. Policymakers still expects low growth and low inflation for the months ahead. In effect, December’s trade deficit confirms that the economic recovery is unfolding in the United States. The deficit increased to $ 40.2 billion from November’s $ 36.4 billion.

Both export and import rose. The first moved up by 3.3% and the second increased by 4.8%. So, the Gross Domestic Product (GDP) might pass 3.5% this year. Core retail sales rose almost 6.0% annually in the past six months.The vast majority of key U.S. companies have overcome Q4 forecasts with profits rising on a pace of over 15% year-on-year excluding financials.

EUROPE is still under pressure

The European markets are still under siege, as Greece and other European nations are struggling with fiscal challenges. German and France have already announced they will support the Mediterranean’s country, but other nations might join.

Cutting 10% of GDP deficit in just over three years will not be easy for Greece without the concrete intervention of the European Community. Spending should be cut dramatically, while wages reduced from current levels.

This might inspire more social unrests, after the strikes that have blocked Athens throughout last year. In reality, Euro-zone finances as a whole are in a better shape than those in the United States.The Euro-zone general government deficit will be almost 7.0% of the GDP in 2010 according to OECD numbers, while the U.S. is forecasted at 10.7%. Nonetheless, large imbalances among the member states are a serious threats the EU stability.The challenging economic conditions are putting Portugal, Spain and Greece economy under pressure. A centralized fiscal policy targeted to each nation need is more appropriate, but this would imply giving up current autonomy.

At present, nobody in Europe wants to compromise their independence. The European Central Bank (ECB) will keep rates low for now. Greek jitters are unfolding, while the economic recovery is still weak.In fact, while the Euro-zone GDP fell 2.1% in the fourth quarter, less than the 4.0% decline registered in the third quarter, industrial production slumped 1.7% month-on-month in December after having increased 1.4% in November.

GBP/USD: testing key support linesEUR/USD: The Euro has reached the important support line at 1.35, 1.37. It corresponds to the longtime trend line and should hold at first touch. However, a move below 1.3390 is necessary for 1.33, 1.3250. A breakout failure would take the price back again to 1.35.

GBP/USD: The pound has reached to important support line at 1.560/1.55. This is at the conjunction of various support lines and should hold. Nevertheless, a move below 1.5390 would target 1.53, 1.52. A breakout failure would instead take the price to 1.5860, 1.6020l.USD/JPY: The market is finding a good support in the 88.00/89.00 area. A move above 91.50 would target 92.30.USD/CAD: The resistance line at 1.07/1.08 is holding. It corresponds to the higher Bollinger bands and few resistance lines. A decline to 1.0550, eventually 1.0380, is possible
.

Angelo Airaghi is a Commodity Trading Advisor, registered with the National Futures Association and the Commodity Futures Trading Commission. He has been an active professional since 1990 working for major international financial companies. In the past 10 years, Angelo Airaghi has been an analyst and commentator for national and international media.

Dollar Climbs to Two-Week High on Evidence of U.S. Recovery

2010-02-18T01:21:00.001+08:00

By Ben Levisohn and Anchalee Worrachate

The dollar rose to its highest level in two weeks against the yen on better-than-expected housing and manufacturing reports before the release of the Federal Reserve’s January minutes.

The euro slid from the highest level this week versus the dollar after a political ally of Germany’s Chancellor Angela Merkel said “not a single euro” should go to Greece. The yen fell against most of its major counterparts including the Brazilian real and South African rand as signs of a U.S. economic recovery spurred demand for higher-yielding assets.

“Because of the U.S. economic improvement, the dollar is in a better fundamental position than the yen,” said Jessica Hoversen, a foreign-exchange and fixed-income analyst at the futures broker MF Global Ltd. in Chicago. “There’s more risk appetite, and traders are focusing on the yen as the carry currency.”

The dollar advanced 0.6 percent to 90.71 yen at 11:33 a.m. in New York, from 90.14 yesterday, after advancing to 91.16, the highest level since Feb. 3. The euro fell 0.5 percent to 123.52 yen, compared with 124.12. Europe’s currency depreciated 1.1 percent to $1.3616, from $1.3770, after climbing to $1.3788, the highest since Feb. 11.

The real increased 1.1 percent to 49.43 yen and the rand appreciated 1.5 percent to 11.95 yen on speculation investors will increase carry trades, in which they buy higher-yielding assets with amounts borrowed in nations with low interest rates. The benchmark of 0.1 percent in Japan has made the yen popular for funding such transactions.

U.S. Production

U.S. industrial production climbed 0.9 percent last month after a 0.7 percent increase in December, figures from the Fed showed. The median forecast of 78 economists in a Bloomberg News survey was for a 0.7 percent gain in January.

Builders broke ground on 591,000 homes at an annual rate last month, up 2.8 percent from a revised 575,000 in December. Starts were projected to increase to a 580,000 pace, according to the median estimate of 77 economists in a Bloomberg survey.

“The housing data was consistent with a stabilization of economy,” said Michael Woolfolk, senior currency strategist in New York at Bank of New York Mellon Corp., the world’s largest custodial bank, with more than $20 trillion in assets under administration. “It’s positive for the economic backdrop and positive for risk appetite.”

The euro declined versus the dollar after the leader of Chancellor Merkel’s Bavarian political allies said Germany must resist supporting Greece with taxpayers’ money because granting aid would invite other nations to seek bailouts.

‘Stable-Currency Party’

“We are the stable-currency party,” Horst Seehofer, who heads the Christian Social Union, one of three parties in Merkel’s coalition, told a rally in the southern city of Passau today. “That’s why we’re helping Greece politically, but not a single euro must go there.”

The euro has fallen 9.9 percent against the dollar from a one-year high of $1.5144 in November on concern sovereign debt problems will hamper the region’s recovery.

The currency should be capped at $1.40 for the next decade, according to Robert Mundell, a Columbia University professor and Nobel laureate in economics for his work on exchange rates.

“They’ve paid for that overly strong euro in the past and they can’t afford it anymore,” Mundell said in a Bloomberg Television interview. “They need to put a ceiling on the euro.”

Australia’s dollar advanced as much as 1.1 percent to 82.19 yen, the highest level since Jan. 26, as traders increased bets that the nation’s Reserve Bank will raise its benchmark rate next month.

Aussie Rate View

Swaps traders raised to 36 percent the chance the Reserve Bank of Australia will boost the 3.75 percent target lending rate on March 2. Policy makers said in minutes of their previous meeting, released yesterday, that further gains in the target rate were likely.

The Bank of Japan will probably refrain from expanding its lending and asset-purchase programs at its two-day meeting ending tomorrow.

Governor Masaaki Shirakawa and his colleagues will keep the loan facility for commercial banks and monthly purchases of government bonds unchanged, 14 of 16 economists surveyed by Bloomberg said. All of the analysts said the bank will maintain the benchmark interest rate where it is.

To contact the reporters on this story: Ben Levisohn in New York at blevisohn@bloomberg.net; Anchalee Worrachate in London at aworrachate@bloomberg.net

Signal today 2 Oct 2009

2009-10-02T14:33:00.001+08:00

GBPJPY
Sell 142.03, SL 143.28, TP1 141.53, TP2 140.27.

GBPUSD
Sell 1.5886, SL 1.5934, TP 1.5836

Signal 29 Sept 2009

2009-09-29T12:48:00.002+08:00

GBPJPY

Buy 143.52, SL 142.26, TP1 144.02, TP2 144.81.

GBPUSD

Buy 1.5934, SL 1.5872, TP 1.5984

Signal today 16 September 2009

2009-09-16T12:35:00.000+08:00

GBPJPY

Buy 150.29, SL 149.40, TP1 150.79, TP2 151.60 .

GBPUSD

Buy 1.6497, SL 1.6446, TP 1.6547

Signal Today 9 Sept 09

2009-09-09T13:59:00.001+08:00

EURUSD

Buy 1.4520 SL 1.4470 TP 1.4570

GBPUSD

Buy 1.6546 SL 1.6493 TP 1.6596

Signal today 8 Sept 2009

2009-09-08T12:44:00.002+08:00

GBPUSD

Sell 1.6333 SL 1.6365 TP 1.6283

Signal today 4 Sept 2009

2009-09-04T12:20:00.003+08:00

GBPJPY

Buystop 151.35, SL 150.35, TP1 151.85 TP2 152.75

GBPUSD

Buystop 1.6340 SL 1.6280 TP 1.6390

Signal today 3 Sept 2009

2009-09-03T14:11:00.003+08:00

GBPJPY

Buystop 150.52, SL 149.67, TP 151.02

EURUSD

Sell limit 1.4300, SL 1.4405, TP1 1.4248

Signal today 2 Sept 2009

2009-09-02T12:35:00.000+08:00

GBPJPY

Buystop 150.34, SL 149.33, TP1 150.84

GBPUSD

Buystop 1.6173, SL 1.6111, TP 1.6214

Signal today 31 August 2009

2009-08-31T12:39:00.001+08:00

GBPJPY

Sellstop 150.49, SL 151.95, TP1 149.53, TP2 149.04

GBPUSD
Sellstop 1.6235, SL 1.6310, TP 1.6195

Signal 28 August 2009

2009-08-28T12:47:00.002+08:00

GBPUSD >> Buystop 1.6310, SL 1.6260, TP 1.6360

Signal 27 August 2009

2009-08-27T13:00:00.001+08:00

GBPJPY

Sellstop 151.70, SL 152.84, TP1 151.20, TP2 150.93

GBPUSD

Sellstop 1.6207, SL 1.6257, TP 1.6159

2nd Signal 26 August 2009

2009-08-26T15:00:00.001+08:00

GBPJPY

Sellstop 153.59, SL 154.59, TP1 152.44, TP2 152.10

GBPUSD

Sellstop 1.6318, SL 1.6418, TP 1.6218

2009-08-13T12:48:00.001+08:00

The Federal Reserve left interest rates unchanged as largely anticipated at 0%-0.25%, announcing that the decision was unanimous and deems current economic conditions to likely warrant exceptionally low levels of the federal funds rate for an extended period. The Fed said that "information received since the FOMC met in June suggests that economic activity is leveling out" and that "conditions in financial markets have improved further in recent weeks".

The Fed extended its asset purchase plan, which was set to expire in September, saying "the Committee has decided to gradually slow the pace of these transactions and anticipates that the full amount will be purchased by the end of October".

Sterling Recovers

The sterling rebounded in the New York session after sliding to a two-week low overnight at 1.6394 following the Bank of England's quarterly inflation report. The BoE expects inflation to fall short of its target over the next three years, with Bank Governor King anticipating inflation to ease to 1% and remain beneath the 2% target until 2012. King explained the BoE's move to increase the asset purchase plan by 50 billion pounds, saying the move was to preempt a prolonged period of below-target inflation. King said the BoE is "determined to bring inflation back to the target and it's that which led the Bank to take action", adding that the UK economy will be in a difficult position for some time to come. Lastly, King said the policy of asset purchases will continue until there are nascent signs of money growth and nominal spending in the economy recovering.

Cable edged back above the 1.65-figure to 1.6530, with resistance seen at 1.6560 and 1.66. Subsequent ceilings are eyed at 1.6640, backed by 1.6670 and 1.67. On the downside, support starts at 1.65, backed by 1.6450 and 1.64. Additional floors will emerge at 1.6375, followed by 1.6340 and 1.63.

Very easy to follow and very profitable !!

2009-08-13T04:39:00.001+08:00

Do you know? At least 90% of new Forex traders lose all their money within
Their first 3 months of trading, Moreover most of beginner traders are bankrupt !!

Why does it happen ?

Because Most of Beginner Traders are just using their "INTUITION" without seeing or learning trend forex ...

This means that they have no idea what the heck they are doing!
They just jump into the forex market blindly with only hopes and dreams
And rely on the flip of a coin to determine their success.

90% of Forex traders are uneducated and lack the basic knowledge of how the Forex really works. They rely solely
On luck without LEARNING ANY OF THE BASICS AT ALL! And reliable sources suggest that up to 10% of these
Under- informed Forex traders end up losing their entire trading account! .
.
So why do they FAIL..They only use instinct without learn trend market price and initially over confident and consider
Their quick 5 minute market analysis to be 100% correct. More often they are 100% WRONG!

Avoid using intuition in forex trading without good accuracy !! ..

How can YOU Earn Thousands of Dollars Each Day?

2009-08-13T04:04:00.000+08:00

FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand.

As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 2 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies