Bernard L. Madoff

Got FOREX

875 posts in this topic

The magic number (100% retracement) is 71.380. If it doesn't hold, there is no known support below....

[Mod: Edit - you gotta stop hotlinking images from commonsensecapital.com. Removed the image]

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US Dollar Desertion:

Billionaire US investor Jim Rogers is advising investors to desert the greenback and put their money into commodities.

The influential former partner of financier George Soros says the US dollar is a flawed currency that has no future.

And he is warning that inflation will rise around the world as governments sell bonds and print money in the hope of paying off their budget deficits.

Now he is saying that if you are a bond manager you should get another job, and he is advising investors to put their money into real assets in a time of rising inflation.

"If the world economy gets better, commodities will be a very good place to be, if not the best place, because the shortages continue to get worse," he observed.

"If the world economy does not get better, commodities are still going to be a great place to be because governments have printed so much money and are continuing to print so much money."

For the rest http://www.abc.net.au/news/stories/2009/12/03/2761062.htm

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AUD is off (actually USD is down). Now 0.9315 as the European session kicks off.

Resistance on 16th Nov is 0.9406.

Go to 99, go to 99, go to 99 (works for Property Spruikers!) :clap:

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AUD is off (actually USD is down). Now 0.9315 as the European session kicks off.

Resistance on 16th Nov is 0.9406.

Go to 99, go to 99, go to 99 (works for Property Spruikers!) :clap:

You must have steely reserve, to have held your position during this recent Dubai incident.

I was selling to my wife us setting up a HSBC saver earlier this week and getting the big 0.5% interest on a US deposit account. Lucky I have been busy with work. Not to busy for Simple Sus though. :)

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Any comments on this?

Looking at the price charts, the Australian dollar MACD on the daily chart is near a buy signal. Not a sell signal. The Canadian dollar monthly chart shows the mighty TRIX 15,9 series (the "KingDaddy") on a gargantuan buy signal !

http://www.commodityonline.com/futures-trading/technical/London-gold-market-uses-COMEX-as-a-tool-13147.html

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Any comments on this?

Looking at the price charts, the Australian dollar MACD on the daily chart is near a buy signal. Not a sell signal.

It is actually. Definitely not overbought. See chart I downloaded a few mins ago.

You must have steely reserve, to have held your position during this recent Dubai incident.

I was selling to my wife us setting up a HSBC saver earlier this week and getting the big 0.5% interest on a US deposit account. Lucky I have been busy with work. Not to busy for Simple Sus though. :)

It hit a trailing stop on the way down and I made a few bob but lots of gains erased. You can see on the chart where I got back in.

post-103-12599069421681_thumb.jpg

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Every time it attempts to rise, it gets hit over the head. There must be some big interests wanting to keep the $US dropping, presumably because of the $US carry trade and the boom to stock & commodity markets.

Here we go again - will the rise hold this time? Not surprisingly, the $A looks like it wants to correct after a sharp rise.

post-148-12603487086326_thumb.jpg

post-148-126034886986_thumb.jpg

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Ireland and Greece to leave the Euro?

http://www.bloomberg.com/apps/news?pid=20601087&sid=a3SIOdqSGOtE&pos=5

Dec. 11 (Bloomberg) -- Greece and Ireland are among countries in an “intolerable” economic situation, which may lead to bailouts or even an exit from the euro area by the end of next year, according to Standard Bank Plc. The absence of a mechanism to permit so-called fiscal transfers within the 16-nation region may undermine the exchange-rate system, said Steve Barrow, head of Group of 10 foreign-exchange strategy at the bank in London. Concern some nations will need to be rescued may drive the premium investors demand to hold 10-year Greek debt instead of benchmark German bunds to 400 basis points next year, from 214 basis points today, he said. The Irish premium may also jump, he said.

“Countries like Ireland and Greece may not be able to grow out of the current crisis,” Barrow said in a telephone interview today. “With interest-rate cuts, exchange-rate depreciation and significant fiscal support all off limits for these countries, bailouts or even pullouts from EMU may happen next year.”

The Irish Finance Ministry called the suggestion it might leave the euro area “uninformed comment,” and Greece said there was no chance it would leave.

The widening difference in yield, or spread, between Greek and Irish bonds and German securities may accelerate, increasing the debt burden for these countries, he wrote in a report today. The Irish-German 10-year spread may rise to 300 basis points next year, from about 170 basis points, he said. The spread averaged about 43 basis points in the past five years, with the Greek-German average at 67 basis points in the period.

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The USD is toast. Zirp forever. Hello Japan.

http://www.theaustra...x-1225806460659

that's a very interesting piece.

when the Fed was created it was mandated that it was "not accountable to congress".

now it is.

is that socialism at play? i don't understand. i want to look into this more.

cheers for the post.

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fed interest rates in USA to stay flat at almost zero, so gold and aussy dollar to go up ? thats my guess, i spose its too late for me to make any money on it?i have to buy before the news is out :( ill have to get a job at goldman sachs if i wanna do that

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Ah, feck! I assume this means we may be on a long slide down... resistance broken? USD rally?

AUD/USD 0.8843 0.8848

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wulfgar's picture is in the gold ad on the right-hand side! smile.gif

He is famous!

From the link...

Even though their valuation is based on rather opaque econometric models likely subject to substantial error, these are at least guidelines:

I'm happy to read about he determine's fair value but he doesn't explain other than...

Morgan Stanley's Spyros Andreopoulos: BRL remains heavily overvalued against the USD: even if our models are somewhat slow to incorporate the improved fundamental outlook for the currency stemming from the recent oil finds and the China pull, an overvaluation of 34% against the USD suggests that BRL looks stretched at current levels. (The China pull argument may also apply to AUD.)

Well duhhh! The China pop could take a year or five.

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Holy cheeseburger Batman....

The USD just went through the floor against all crosses. 0.7 - 1% decline in minutes.

Tin went long on the EUR and AUD this morning on techs as part of a range trading strategy thats been lucrative to perfection. Is it going to stop at R or is this the golden eagle? :clap:

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Profit targets hit at 0.930 (AUD) and 1.450 (EUR)

AUD Gapped up this morning!!

Am looking for a tech pullback to fill the gap and take a breather. 0.91 ish before up we go (well down the USD goes) again.

6 cents (AUD) in 12 trading days is great for Longs but too quick.

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Any FX traders here DO or DO NOT trade Fridays?

Any crap trades I get caught in are generally on a Friday where the market moves out of kilter with the techs.

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Any FX traders here DO or DO NOT trade Fridays?

Any crap trades I get caught in are generally on a Friday where the market moves out of kilter with the techs.

i trade on fridays but it might be better to have a longer timeframe then the rest of the week.

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http://www.telegraph.co.uk/finance/economics/4125947/Willem-Buiter-warns-of-massive-dollar-collapse.html

Willem Buiter warns of massive dollar collapse

Americans must prepare themselves for a massive collapse in the dollar as investors around the world dump their US assets, a former Bank of England policymaker has warned.

By Edmund Conway, Economics Editor
Published: 5:34PM GMT 05 Jan 2009

The long-held assumption that US assets - particularly government bonds - are a safe haven will soon be overturned as investors lose their patience with the world's biggest economy, according to Willem Buiter.

Professor Buiter, a former Monetary Policy Committee member who is now at the London School of Economics, said this increasing disenchantment would result in an exodus of foreign cash from the US.

<snip>

Writing on his blog, Prof Buiter said: "There will, before long (my best guess is between two and five years from now) be a global dumping of US dollar assets, including US government assets. Old habits die hard. The US dollar and US Treasury bills and bonds are still viewed as a safe haven by many. But learning takes place."

...

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