The FTSE100 closed up 163.23 points at 3,926.14, whilst the FTSE 250 closed up 149.61 points at 6,373.89, and for those that are interested the FTSE Small Caps closed up 13.86 points better at 1,757.56.
A better day for the headline shares, with a trading update from Marks & Spencer giving some hope. The banks did well on the whole, and the heavyweight mining shares all made decent gains.
Over the pond, by the time London closed the DJIA was up almost 100 points at just shy of 7,622, whilst the S&P500 was up 10 points at 797, and the Nasdaq up nearly 24 points at 1,525. Wall Street had a decent start, with news data expected to show an improvement in consumer confidence in March.
Back here in London, it was the better than expected trading update from Marks & Sparks that helped the market, with the shares closing up 31.5p (12%) at 296p. M&S said like-for-like sales in the UK for the 3 months to March were down 4.2%, which whilst being lower was much better than the -7.1% for the previous 3 months. This news gave the retail sector a welcome boost, with Next closing up 69p at 1,324, Tesco closing up 17.8p at 333.4p, Sainsburys up 5.75p at 313p, and Morrisons up 9.5p at 255.5p.
The financiual sector had a better day, with bank Standard Chartered doing well, closing up 68.5p at 866.5p. Other banks followed the lead, with HSBC closing up 24.5p at 395p, Lloyds Banking Group up 5.9p at 70.7p, and RBS closing up 1.2p at 24.5p. Barclays closed down 1.1p at 148p, though, but was only one of a couple of the top 100 that had a negative day.
On to insurance, where Admiral closed up 21.5p at 853.5p after announcing the launch of a price comparison website in Spain. This helped peers, with The Pru closing up 30p at 337p, and Aviva closing up 13.75p at 216.25p.
On to the miners, where a positive day was across the board. Kazakhmys closed up 38.5p at 371p despite revealing that pre-tax profit for 2008 was down to US$1.09 bln, down from US$2.03 bln in 2007, with revenue down 2% to US$5.15 bln from US$5.26 bln. ENRC, in which Kazakhmys holds a major stake, closed up 35p at 451.25p.
On to the pharmaceuticals, where Shire closed up 67.5p at 873p after announcing a deal under which GlaxoSmithKline will promote Shire's Vyvsanse drug in the US marketplace. Glaxo closed up 48p at 1,087.5p. Peer AstraZeneca closed up 99p at 2,451p.
International catering giant Compass Group closed up 23.5p at 319p after reporting that profits were ahead of expectations for the first half of the year.
Inter-dealer broker ICAP closed up 31.25p at 304.25p after it said it expects pre-tax profit for the year to 31 March 2009 to be roughly as expected, despite the challenging conditions.
Tuesday, 31 March 2009
Trade Update - Tues 31Mar09
FXLR Daily Roundup – 31st March 2009
Another quiet morning in the Live Room. One trade called on a break, which turned immediately. The next trade did better, with +58 pips taken on the 2nd half of the trade giving a +44 average win. But not usual trading at the moment. Some trading questions and techniques being far more entertaining at the moment, but these days happen.
Summary
- One Live Room trade call today; 1 loss.
- 1 Intra-day trade call; 1 win.
Live room trades
EUR/USD - Short Call (-27 pips)
Live Room Call: Entry on the break of 1.3221
Trade: Break of support level
1st Level: 1.3248, -27 pips
Stop: 1.3248
(Allow few pips for slippage on entry/exit levels)
Intra-day trades
EUR/USD - Short trade closed (+44 pips, ave.)
Opened Short: EUR/USD @ 1.3296
Stop level: 1.3345
Target level: 1.3180
Closed: 1.3238 (1/2: +30 pips, 1/2: +58 pips)
Half closed at 1.3266
See you in the morning.
FXLR team
Another quiet morning in the Live Room. One trade called on a break, which turned immediately. The next trade did better, with +58 pips taken on the 2nd half of the trade giving a +44 average win. But not usual trading at the moment. Some trading questions and techniques being far more entertaining at the moment, but these days happen.
Summary
- One Live Room trade call today; 1 loss.
- 1 Intra-day trade call; 1 win.
Live room trades
EUR/USD - Short Call (-27 pips)
Live Room Call: Entry on the break of 1.3221
Trade: Break of support level
1st Level: 1.3248, -27 pips
Stop: 1.3248
(Allow few pips for slippage on entry/exit levels)
Intra-day trades
EUR/USD - Short trade closed (+44 pips, ave.)
Opened Short: EUR/USD @ 1.3296
Stop level: 1.3345
Target level: 1.3180
Closed: 1.3238 (1/2: +30 pips, 1/2: +58 pips)
Half closed at 1.3266
See you in the morning.
FXLR team
Forex Market Update - London - Tues 31Mar09
London Session
The stock markest in Europe were bouyant this morning, with the indicies up some 1.7% by lunchtime. US futures are pointing to a gap up of 1.0% on opening.
The shiny stuff is also popular, with Gold up $3 near 918/919. G-20 talk of potentially adding the precious metal to the IMF's SDR basket is helping there.
The move to more risk and US dollar selling for the month and quarter-end fix drove FX markets overall.
Economic data seems to have been ignored here in Europe, with the highlight being the Euro Zone CPI estimate being lower at 0.6% from 1.2%, which is the lowest run-rate on record. This should result in ECB members hard-pressed to use inflation as the argument to keep rates unchanged and makes it increasingly likely that the bank will cut -50 basis points to 1.00% this Thursday. The UK index of services sank -1.3% in January from -0.8% the previous month. Meanwhile, the German unemployment rate was higher than expected at 8.1% from 8.0% the previous month.
EUR/USD jumped about 90 pips to the 1.3310/20 zone on the back of a nice rally in the prior session. There was resistance found at 1.3340, and if the USD selling on the month and quarter-end flows is already done, this should continue to provide a good short-term barrier here. However, weakness should show if we break below 1.3240, which is both trendline and the 55 SMA support on the hour chart.
The Yen crosses continued to extend gains as the Japanese yearend flows ended. USD/JPY was up +20 pips towards 98.40/50, whilst EUR/JPY added a healthy +110 pips to the 131.15/20 zone. Now that the market can focus on weak Japanese fundamentals, the bias for the Yen crosses remains higher over the medium term.
Happy Trading
The stock markest in Europe were bouyant this morning, with the indicies up some 1.7% by lunchtime. US futures are pointing to a gap up of 1.0% on opening.
The shiny stuff is also popular, with Gold up $3 near 918/919. G-20 talk of potentially adding the precious metal to the IMF's SDR basket is helping there.
The move to more risk and US dollar selling for the month and quarter-end fix drove FX markets overall.
Economic data seems to have been ignored here in Europe, with the highlight being the Euro Zone CPI estimate being lower at 0.6% from 1.2%, which is the lowest run-rate on record. This should result in ECB members hard-pressed to use inflation as the argument to keep rates unchanged and makes it increasingly likely that the bank will cut -50 basis points to 1.00% this Thursday. The UK index of services sank -1.3% in January from -0.8% the previous month. Meanwhile, the German unemployment rate was higher than expected at 8.1% from 8.0% the previous month.
EUR/USD jumped about 90 pips to the 1.3310/20 zone on the back of a nice rally in the prior session. There was resistance found at 1.3340, and if the USD selling on the month and quarter-end flows is already done, this should continue to provide a good short-term barrier here. However, weakness should show if we break below 1.3240, which is both trendline and the 55 SMA support on the hour chart.
The Yen crosses continued to extend gains as the Japanese yearend flows ended. USD/JPY was up +20 pips towards 98.40/50, whilst EUR/JPY added a healthy +110 pips to the 131.15/20 zone. Now that the market can focus on weak Japanese fundamentals, the bias for the Yen crosses remains higher over the medium term.
Happy Trading
Monday, 30 March 2009
Stock Market Roundup - Mon30Mar09
The FTSE 100 closed down 135.94 points at 3,762.91, whilst the FTSE 250 closed down 127.24 points at 6,224.28, and for those that are interested the FTSE Small Caps closed down 19.24 points at 1,743.7.
The financial sector and mining sector both had a poor day.
Over the pond, by the time London closed the DJI was down 271 points at 7,505, the S&P 500 was down 28 points to 788, and the Nasdaq down 56 points to 1,489. Wall Street was down on fears GM and Chrysler may face bankruptcy. Serious stuff. The White House said bankruptcy was a possibility for both General Motors and Chrysler, which was not taken well.
Back here in London, weak financial issues and mining stocks kept the main market lower, with Lloyds Banking Group and Barclays having a bad day, down 11.3p (14.8%) at 64.8p and 24.7p (14.2%) at 149.1p, respectively. Peer HSBC closed down 32p at 370.5p and RBS down 3.3p at 23.3p.
The insurers also had a bad day, with Norwice Union owner Aviva falling the most, down 34.5p at 202.5p. The Pru closed down 20p to 307p, Legal & General down 5p at 41p, and Admiral was down 23.5p at 832p.
Staying with financials, Man Group closed down 13.9p to 199.1p, Schroders down 41p at 738.5p, and 3i Group down 13.5p at 247.75p.
The commodities were down as the chances of the upcoming G20 summit achieving anything practical to stimulate flagging demand appeared increasingly remote. Why are we not surprised? Kazakhmys had the worst day, down 46.25p at 332.5p, whilst Xstrata closed down nearly 50p at 425p, Anglo American down 114p to 1,081p, Vedanta down 72p at 628.5p, and BHP Billiton was down 105p at 1,304p.
On to the black stuff, where oil was back at the US$48 bbl level. The Oil majors followed back, with BP down 17p at 459.5p, RD Shell down 66p to 1,500p, and BG Group off 48p at 1,003p.
The financial sector and mining sector both had a poor day.
Over the pond, by the time London closed the DJI was down 271 points at 7,505, the S&P 500 was down 28 points to 788, and the Nasdaq down 56 points to 1,489. Wall Street was down on fears GM and Chrysler may face bankruptcy. Serious stuff. The White House said bankruptcy was a possibility for both General Motors and Chrysler, which was not taken well.
Back here in London, weak financial issues and mining stocks kept the main market lower, with Lloyds Banking Group and Barclays having a bad day, down 11.3p (14.8%) at 64.8p and 24.7p (14.2%) at 149.1p, respectively. Peer HSBC closed down 32p at 370.5p and RBS down 3.3p at 23.3p.
The insurers also had a bad day, with Norwice Union owner Aviva falling the most, down 34.5p at 202.5p. The Pru closed down 20p to 307p, Legal & General down 5p at 41p, and Admiral was down 23.5p at 832p.
Staying with financials, Man Group closed down 13.9p to 199.1p, Schroders down 41p at 738.5p, and 3i Group down 13.5p at 247.75p.
The commodities were down as the chances of the upcoming G20 summit achieving anything practical to stimulate flagging demand appeared increasingly remote. Why are we not surprised? Kazakhmys had the worst day, down 46.25p at 332.5p, whilst Xstrata closed down nearly 50p at 425p, Anglo American down 114p to 1,081p, Vedanta down 72p at 628.5p, and BHP Billiton was down 105p at 1,304p.
On to the black stuff, where oil was back at the US$48 bbl level. The Oil majors followed back, with BP down 17p at 459.5p, RD Shell down 66p to 1,500p, and BG Group off 48p at 1,003p.
Live Room Update - Mon 30Mar09
FXLR Daily Roundup – 30th March 2009
Summary
- One Live Room trade call today; 1 loss.
- 3 Intra-day trade calls; 2 losses, 1 trade still open.
The worst day since we started. The first Cable trade was rather disappointing considering the technical setup seemed
correct. There was a double bottom formed in the 15min chart. Looking back, the 30 min chart had no double bottom and no break of the prior swing high.
Sometimes we get carried away with minutia and that can cause problems. I’ll admit it’s easy for me to see it in retrospect (and I do admit that) but the desire to want to hit levels and make a quick profit can cause trades that are a bit too quick when we get down to the lower time frame charts.
I think it’s just one of those times when things are happening fast and we don’t have
time to look at the larger time-frame.
Cable to me is one of those more unpredictable pairs – volatile and tends to work
differently to others. I make a record of winning/losing set ups and Cable has the worst winning ratio. However, it also has the highest points profit. It’s down to the volatility and whippiness.
There was one decent trade taken in the room by one or two members, which was the Dollar Yen short that broke out of our level. We let it go as we expected a reverse,w hcih eventually happened, but one member took +26 on half and +41 on the other half the trade.
Live room trades
USD/CAD - Short Call
Live Room Call: Entry on the break of 1.2489
Trade: Break of resistance level
1st Level: 1.2510, -21 pips
Stop: 1.2510
(Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Long trade closed (-39 pips)
Opened Long: GBP/USD @ 1.4194
Stop level: 1.4155
Target level: 1.4280
Closed: 1.4155 (-39 pips)
GBP/USD - Long trade closed (-45 pips)
Opened Long: GBP/USD @ 1.4170
Stop level: 1.4125
Target level: 1.4280
Closed: 1.4125 (-45 pips)
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 96.92
Stop level: 97.20
Target level: 96.20
See you in the morning.
FXLR team
Summary
- One Live Room trade call today; 1 loss.
- 3 Intra-day trade calls; 2 losses, 1 trade still open.
The worst day since we started. The first Cable trade was rather disappointing considering the technical setup seemed
correct. There was a double bottom formed in the 15min chart. Looking back, the 30 min chart had no double bottom and no break of the prior swing high.
Sometimes we get carried away with minutia and that can cause problems. I’ll admit it’s easy for me to see it in retrospect (and I do admit that) but the desire to want to hit levels and make a quick profit can cause trades that are a bit too quick when we get down to the lower time frame charts.
I think it’s just one of those times when things are happening fast and we don’t have
time to look at the larger time-frame.
Cable to me is one of those more unpredictable pairs – volatile and tends to work
differently to others. I make a record of winning/losing set ups and Cable has the worst winning ratio. However, it also has the highest points profit. It’s down to the volatility and whippiness.
There was one decent trade taken in the room by one or two members, which was the Dollar Yen short that broke out of our level. We let it go as we expected a reverse,w hcih eventually happened, but one member took +26 on half and +41 on the other half the trade.
Live room trades
USD/CAD - Short Call
Live Room Call: Entry on the break of 1.2489
Trade: Break of resistance level
1st Level: 1.2510, -21 pips
Stop: 1.2510
(Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Long trade closed (-39 pips)
Opened Long: GBP/USD @ 1.4194
Stop level: 1.4155
Target level: 1.4280
Closed: 1.4155 (-39 pips)
GBP/USD - Long trade closed (-45 pips)
Opened Long: GBP/USD @ 1.4170
Stop level: 1.4125
Target level: 1.4280
Closed: 1.4125 (-45 pips)
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 96.92
Stop level: 97.20
Target level: 96.20
See you in the morning.
FXLR team
Forex Market Update - London - Mon 30Mar09
London Session
The greenback continued to gain ground in the London session as risk aversion remained the order of the day. Weekend comments for US Treasury Secretary Geithner that banks will continue to need large amounts of aid, coupled with the ousting of GM's chief executive look to be the major headlines behind the flight to safety.
The European markets are currently down -2.6% on average this morning, whilst US futures are showing a -2.2% open and an S&P back below the critical 800 support zone.
On to the shiny stuff, where Gold is -US$10 lower near 914/913 despite the risk aversion as USD strength outpaces demand for the precious metal thus far.
Economic data across the pond was all about confidence and the news was not good. The eurozone business climate indicators dropped to -3.58 in March from -3.40 the prior month, in what is now a record low back to 1985. Consumer confidence in the eurozone also dropped to a record low -34 for the month after an already dismal -33 read previously. The news in the UK continued to worsen as well. Net consumer lending printed a much weaker than expected -0.2B in February from +0.2B prior. This was the first contraction in credit since data began back in 1993 and suggests the consumer retrenchment is in full effect.
Poor economic data coupled with ominous headlines for financials had the market flocking back to the USD.
EUR/USD shed about -40 pips towards 1.32 and remained under pressure as the ECB rate meeting looms later this week. Trichet is set to speak at this morning in the USA in what could be a preview of what to expect and dovish comments here could see EUR/USD back to the 1.3158 intraday lows. The Yen crosses were mixed after taking a pummeling overnight.
USD/JPY was modestly higher near 96.70/80 while EUR/JPY sank about -20 points into the 127.60 area as the moves in the two pairs were more about USD strength than anything.
The greenback continued to gain ground in the London session as risk aversion remained the order of the day. Weekend comments for US Treasury Secretary Geithner that banks will continue to need large amounts of aid, coupled with the ousting of GM's chief executive look to be the major headlines behind the flight to safety.
The European markets are currently down -2.6% on average this morning, whilst US futures are showing a -2.2% open and an S&P back below the critical 800 support zone.
On to the shiny stuff, where Gold is -US$10 lower near 914/913 despite the risk aversion as USD strength outpaces demand for the precious metal thus far.
Economic data across the pond was all about confidence and the news was not good. The eurozone business climate indicators dropped to -3.58 in March from -3.40 the prior month, in what is now a record low back to 1985. Consumer confidence in the eurozone also dropped to a record low -34 for the month after an already dismal -33 read previously. The news in the UK continued to worsen as well. Net consumer lending printed a much weaker than expected -0.2B in February from +0.2B prior. This was the first contraction in credit since data began back in 1993 and suggests the consumer retrenchment is in full effect.
Poor economic data coupled with ominous headlines for financials had the market flocking back to the USD.
EUR/USD shed about -40 pips towards 1.32 and remained under pressure as the ECB rate meeting looms later this week. Trichet is set to speak at this morning in the USA in what could be a preview of what to expect and dovish comments here could see EUR/USD back to the 1.3158 intraday lows. The Yen crosses were mixed after taking a pummeling overnight.
USD/JPY was modestly higher near 96.70/80 while EUR/JPY sank about -20 points into the 127.60 area as the moves in the two pairs were more about USD strength than anything.
Friday, 27 March 2009
FXLR - Live Room Trades - Fri 27Mar09
FXLR Daily Roundup – 27th March 2009
It was a fairly good day today, with the target of +100 pips reached on the CAD. The morning started well for some even before the Live Room opened, with a Cable short taken around the 1.4467 level as it broke the perfect up trend on both the 15min and one hour charts. A lovely trade. This Cable trade did well all morning, with one or two getting in and out 3 times, with up to +86 pips on one occasion. A CAD break out long trade was taken as well, which took its time but reached the target. The Yen trade also gave us some profits on half, but we closed out the 2nd half at break even. Quite an active morning, with the Live Room becoming more like a community.
Summary
- One Live Room trade call today; 1 win.
- 2 Intra-day trade calls; 1 win, 1 trade still open.
Live room trades
USD/JPY - Short Call
Live Room Call: Entry on the break of 98.98
Trade: Break of resistance level
1st Level: 99.23, +25 pips
2nd Level: 98.98, +0 pips (Ave. +12 pips)
Stop: 98.70
(Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CAD - Long trade closed (+63 pips, ave.)
Opened Long: USD/CAD @ 1.2330
Stop level: 1.2280
Target level: 1.2430
Closed: 1.2430 (1/2: +26 pips, 1/2: +100 pips)
Target reached
Half position closed 1.2356
EUR/JPY - Long trade opened
Opened Long: EUR/JPY @ 130.54
Stop level: 130.00
Target level: 131.80
Trade 1/2 size.
Have a great weekend.
FXLR team
It was a fairly good day today, with the target of +100 pips reached on the CAD. The morning started well for some even before the Live Room opened, with a Cable short taken around the 1.4467 level as it broke the perfect up trend on both the 15min and one hour charts. A lovely trade. This Cable trade did well all morning, with one or two getting in and out 3 times, with up to +86 pips on one occasion. A CAD break out long trade was taken as well, which took its time but reached the target. The Yen trade also gave us some profits on half, but we closed out the 2nd half at break even. Quite an active morning, with the Live Room becoming more like a community.
Summary
- One Live Room trade call today; 1 win.
- 2 Intra-day trade calls; 1 win, 1 trade still open.
Live room trades
USD/JPY - Short Call
Live Room Call: Entry on the break of 98.98
Trade: Break of resistance level
1st Level: 99.23, +25 pips
2nd Level: 98.98, +0 pips (Ave. +12 pips)
Stop: 98.70
(Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CAD - Long trade closed (+63 pips, ave.)
Opened Long: USD/CAD @ 1.2330
Stop level: 1.2280
Target level: 1.2430
Closed: 1.2430 (1/2: +26 pips, 1/2: +100 pips)
Target reached
Half position closed 1.2356
EUR/JPY - Long trade opened
Opened Long: EUR/JPY @ 130.54
Stop level: 130.00
Target level: 131.80
Trade 1/2 size.
Have a great weekend.
FXLR team
Stock Market Update - Fri 27Mar09
The FTSE100 closed down 26.35 points at 3,898.85 today, whilst the FTSE 250 cllosed down 30.62 points at 6,351.52, and for those that are interested the FTSE Small Caps were ending just about where they started the day at 1,763.51. The banks did ok today but this was offset by the heavy losses amongst insurers and the heavyweight miners.
Over the pond, Wall Street opened sharply lower, and by the time London closed the DJIA was down about 120 points to 7,804, whilst the S&P500 was down nearly 12 points at 821, and the Nasdaq down over 26 points at just under 1,561. US data showed personal spending rose last month, but personal income declined.
Back here in London, the strength amongst banking stocks failed to offset weakness elsewhere. Barclays closed up 33.7p at 173.8p after confirming press reports it has passed a Financial Services Authority (FSA) 'stress test' to assess whether it needs additional capital. Peer Lloyds Banking Group closed up 7.1p at 76.1p.
On to the insurers, where things weren't as good. The Pru closed down 20p at 327p, Admiral down 27.5p at 855.5p, Aviva down 8p at 237p, although Legal & General closed up a little at 46p, 1.5p better off. Specialist life assurance group Just Retirement added 1.75p at 64p after posting a rise in pre-tax profit despite lower revenues.
The mining stocks had a better start but tailed off, with ENRC closing down 35.75p at 444.25p, Lonmin down 64p at 1,429p, Vedanta Resources down 5p at 700.5p, Anglo American down 57p at 1,195p, Antofagasta down 4.5p at 516p, and Kazahkmys down 18.25p at 378.75p after a downngrade to sell from hold at Deutsche Bank, with target price of 239p, down from 246p. Two did better, though, with Rio Tinto closing up 96p at 2,478p, and Xstrata closing up 11p at 475.75p.
Oil services specialist, Wood Group, closed down 11.75p at 222p.
Over the pond, Wall Street opened sharply lower, and by the time London closed the DJIA was down about 120 points to 7,804, whilst the S&P500 was down nearly 12 points at 821, and the Nasdaq down over 26 points at just under 1,561. US data showed personal spending rose last month, but personal income declined.
Back here in London, the strength amongst banking stocks failed to offset weakness elsewhere. Barclays closed up 33.7p at 173.8p after confirming press reports it has passed a Financial Services Authority (FSA) 'stress test' to assess whether it needs additional capital. Peer Lloyds Banking Group closed up 7.1p at 76.1p.
On to the insurers, where things weren't as good. The Pru closed down 20p at 327p, Admiral down 27.5p at 855.5p, Aviva down 8p at 237p, although Legal & General closed up a little at 46p, 1.5p better off. Specialist life assurance group Just Retirement added 1.75p at 64p after posting a rise in pre-tax profit despite lower revenues.
The mining stocks had a better start but tailed off, with ENRC closing down 35.75p at 444.25p, Lonmin down 64p at 1,429p, Vedanta Resources down 5p at 700.5p, Anglo American down 57p at 1,195p, Antofagasta down 4.5p at 516p, and Kazahkmys down 18.25p at 378.75p after a downngrade to sell from hold at Deutsche Bank, with target price of 239p, down from 246p. Two did better, though, with Rio Tinto closing up 96p at 2,478p, and Xstrata closing up 11p at 475.75p.
Oil services specialist, Wood Group, closed down 11.75p at 222p.
Thursday, 26 March 2009
FXLR - Trades Update - Thurs 26Mar09
FXLR Daily Roundup – 26th March 2009
A quiet morning, but a nice Cable win this afternoon, with an average of +63 pips taken.
Summary
- No Live Room trade calls today.
- 2 Intra-day trade calls; 1 loss, 1 win.
Live room trades
- No calls today.
Intra-day trades
GBP/USD - Long trade closed (-45 pips)
Open Long: GBP/USD @ 1.4625
Stop level: 1.4580
Target level: 1.4720
Closed: 1.4580 (-45 pips)
GBP/USD - Short trade closed (+63 pips average)
Open Short: GBP/USD @ 1.4525
Stop level: 1.4575
Target level: 1.4410
Closed: (1/2: +41 pips, 1/2: +85 pips)
Half position closed 1.4484 (+41 pips)
Half position closed 1.4400 (+85 pips)
See you in the morning.
FXLR team
A quiet morning, but a nice Cable win this afternoon, with an average of +63 pips taken.
Summary
- No Live Room trade calls today.
- 2 Intra-day trade calls; 1 loss, 1 win.
Live room trades
- No calls today.
Intra-day trades
GBP/USD - Long trade closed (-45 pips)
Open Long: GBP/USD @ 1.4625
Stop level: 1.4580
Target level: 1.4720
Closed: 1.4580 (-45 pips)
GBP/USD - Short trade closed (+63 pips average)
Open Short: GBP/USD @ 1.4525
Stop level: 1.4575
Target level: 1.4410
Closed: (1/2: +41 pips, 1/2: +85 pips)
Half position closed 1.4484 (+41 pips)
Half position closed 1.4400 (+85 pips)
See you in the morning.
FXLR team
Stock Market Update - Thurs 26Mar09
The FTSE 100 closed up 24.95 points at 3,925.2, whilst the FTSE 250 closed up 11.03 points at 6,382.14, and for those that are interested the FTSE Small Caps closed up 13.87 points better at 1,764.39. The bigger shares were fairly even most oif the day, runjing in an open channel, although slightly higher. There were a few company reports and updates to digest today, with strength in both the financial and mining and sectors (surprisingly). which hlped keep the index on the plus side.
Over the pond, by the time London closed the DJIA was up 71.21 points to 7,821.02, the S&P500 gained 8.65 points at 822.53 and the Nasdaq Composite climbed 21.42 points to 1,550.37. Wall Street was better after opening on the back of the profit report by Best Buy, which had fallen less than expected from the Q4 firures.
Back here in London, the financials were mixed. Hedge fund manager Man Group closed up 11.5p at 219p after saying it would maintain its full-year dividend even though it had halved its profits. The banks did well, with Barclays closing up 16.7p at 140.1p, Lloyds Banking Group up 7.2p at 69p, RBS up 1.8p at 26.6p, and HSBC up 25p at 399.25p.
The insurers were mixed, with The Pru down 2.5p at 347p amd Standard Life down 1.7p at 176p, whilst Norwich Union owener Aviva closed up 9p at 245p, and Legal & General up 4.8p at 44.5p.
On top the miners, where hopes of demand help the majors - ENRC had the best day, closing up 69.5p at 480p, whilst Rio Tinto closed up 163p at 2,382p, Xstrata up 3.25p at 463.75p, and Vedanta Resources up 37.5p to 705.5p.
Over the pond, by the time London closed the DJIA was up 71.21 points to 7,821.02, the S&P500 gained 8.65 points at 822.53 and the Nasdaq Composite climbed 21.42 points to 1,550.37. Wall Street was better after opening on the back of the profit report by Best Buy, which had fallen less than expected from the Q4 firures.
Back here in London, the financials were mixed. Hedge fund manager Man Group closed up 11.5p at 219p after saying it would maintain its full-year dividend even though it had halved its profits. The banks did well, with Barclays closing up 16.7p at 140.1p, Lloyds Banking Group up 7.2p at 69p, RBS up 1.8p at 26.6p, and HSBC up 25p at 399.25p.
The insurers were mixed, with The Pru down 2.5p at 347p amd Standard Life down 1.7p at 176p, whilst Norwich Union owener Aviva closed up 9p at 245p, and Legal & General up 4.8p at 44.5p.
On top the miners, where hopes of demand help the majors - ENRC had the best day, closing up 69.5p at 480p, whilst Rio Tinto closed up 163p at 2,382p, Xstrata up 3.25p at 463.75p, and Vedanta Resources up 37.5p to 705.5p.
Forex Market Update - Thurs 26Mar09
London Session
It was a fairly boring London session again, with just Cable reacting to some poor retail figures. The European bourses were all down about -0.4% on average as we approach the New York kick off, but the US futures are up 1.25% so it looks like we'll have a gap up.
The shiny stuff has done ok, with Gold having a little rally of about 8-bucks to the US$941/942 oz area.
The 'UKGBPSterlingPound' was weaker after UK retail sales came out -1.9% for February, which was worse than the expected -0.4%, and worse than January's +0.8%, which really just showed some post Xmas sale reaction, we can assume. This -1.9% for Feb takes the annual run-rate to a dismal +0.4% from +3.8%, which is the worst since late 1995.
GBP/USD was actually only off -30 pips to 1.4560/70 as we approach the New York session, although had reacted worse as we apporached and heard the retail figures.
EUR/GBP has moved about 30 pips higher to the 0.9320/25 area.
EUR/USD was +20 pips to near 1.3570/80, with a good resistance near 1.3610/20.
The Yen was fairly weak across the board, with USD/JPY +30 pips near 98.30/40, and EUR/JPY +60 pips to the 133.50/60 zone.
The New York session brings us US initial jobless claims, which are expected to rise to 650K, up from 646K. A worse than expected figure would see Wall Street check, then pull back, with the riskier Forex trades also being dumped, with a weaker EUR and a stronger USD, with Gold also being attractive.
It was a fairly boring London session again, with just Cable reacting to some poor retail figures. The European bourses were all down about -0.4% on average as we approach the New York kick off, but the US futures are up 1.25% so it looks like we'll have a gap up.
The shiny stuff has done ok, with Gold having a little rally of about 8-bucks to the US$941/942 oz area.
The 'UKGBPSterlingPound' was weaker after UK retail sales came out -1.9% for February, which was worse than the expected -0.4%, and worse than January's +0.8%, which really just showed some post Xmas sale reaction, we can assume. This -1.9% for Feb takes the annual run-rate to a dismal +0.4% from +3.8%, which is the worst since late 1995.
GBP/USD was actually only off -30 pips to 1.4560/70 as we approach the New York session, although had reacted worse as we apporached and heard the retail figures.
EUR/GBP has moved about 30 pips higher to the 0.9320/25 area.
EUR/USD was +20 pips to near 1.3570/80, with a good resistance near 1.3610/20.
The Yen was fairly weak across the board, with USD/JPY +30 pips near 98.30/40, and EUR/JPY +60 pips to the 133.50/60 zone.
The New York session brings us US initial jobless claims, which are expected to rise to 650K, up from 646K. A worse than expected figure would see Wall Street check, then pull back, with the riskier Forex trades also being dumped, with a weaker EUR and a stronger USD, with Gold also being attractive.
Wednesday, 25 March 2009
Trade Update - Wed 25Mar09
FXLR Daily Roundup – 25th March 2009
What looked like a promising morning didn't really materialise, except for the Cable short taken by a few sroom members, which delivered up to +40 pips for at least one trader, and there was also profits taken on AUD short and CAD long, too, but little on the Euro, which reversed, despite threatening for some time to follow Cable south. The intra-day calls were much better, with +75 and +85 pips taken.
Summary
- 2 Live Room trade calls today; 1 win and 1 loss.
- 2 Intra-day trade calls; 2 wins.
Live room trades
AUD/USD - Short Call
- Live Room Call: Entry on the break of 0.6952
- Trade: Break of support level
- 1st Level: 0.6925, +27 pips
- 2nd Level: 0.6934, +18 pips (Ave. +22 pips)
- Stop: 0.6980
- (Allow few pips for slippage on entry/exit levels)
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.3430
- Trade: Break of support level
- 1st Level: 1.3458, -28 pips
- Stop: 1.3458
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CAD - Short trade closed (+80 pips, ave.)
- Opened Short: USD/CAD @ 1.2315
- Stop level: 1.2360
- Target level: 1.2220
- Closed: 1.2230 (1/2: +75 pips, 1/2: +85 pips)
- Half closed at 1.2240
AUD/USD - Long trade closed (+27 pips, ave.)
- Opened Long: AUD/USD @ 0.7002
- Stop level: 0.6960
- Target level: 0.7080
- Closed: 0.7015 (1/2: +41, 1/2: +13)
- Half closed at 0.7043
See you in the morning.
FXLR team
What looked like a promising morning didn't really materialise, except for the Cable short taken by a few sroom members, which delivered up to +40 pips for at least one trader, and there was also profits taken on AUD short and CAD long, too, but little on the Euro, which reversed, despite threatening for some time to follow Cable south. The intra-day calls were much better, with +75 and +85 pips taken.
Summary
- 2 Live Room trade calls today; 1 win and 1 loss.
- 2 Intra-day trade calls; 2 wins.
Live room trades
AUD/USD - Short Call
- Live Room Call: Entry on the break of 0.6952
- Trade: Break of support level
- 1st Level: 0.6925, +27 pips
- 2nd Level: 0.6934, +18 pips (Ave. +22 pips)
- Stop: 0.6980
- (Allow few pips for slippage on entry/exit levels)
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.3430
- Trade: Break of support level
- 1st Level: 1.3458, -28 pips
- Stop: 1.3458
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CAD - Short trade closed (+80 pips, ave.)
- Opened Short: USD/CAD @ 1.2315
- Stop level: 1.2360
- Target level: 1.2220
- Closed: 1.2230 (1/2: +75 pips, 1/2: +85 pips)
- Half closed at 1.2240
AUD/USD - Long trade closed (+27 pips, ave.)
- Opened Long: AUD/USD @ 0.7002
- Stop level: 0.6960
- Target level: 0.7080
- Closed: 0.7015 (1/2: +41, 1/2: +13)
- Half closed at 0.7043
See you in the morning.
FXLR team
Stock Market Update - Wed 25Mar09
The FTSE100 closed down 11.21 points at 3900.25, whilst the FTSE250 c;losed down 32.44 points at 6,371.11, and for those that are interested FTSE Small Caps closed up 6.85 points at 1,750.72. The headline shares closed down slightly, with the banks popularity overshadowed by poor day from insurance and the mining heavyweights.
Over the pond it was better, and by the time London closed the DJIA was up 136 points at 7,796, whilst the S&P500 was up nearly 12 points at 818, and the Nasdaq up nearly 20 points at 1,536. Wall Street showed some fairly promising interest after the new homes sales figures impressed the market with a 4.7% rise in February.
Back here in London, despite news from ENRC that pre-tax profit was up to US$3.83 bln for 2008 (2007 - US$1.32 bln) with revenue up by 66% to US$6.8 bln, the shares closed down 18.5p at 410.5p, with peers following. Anglo American had the worst day, closing down 56p at 1,219p after a downgrade by RBS (yes, RBS), whilst Rio Tinto closed down 22p at 2,219p, and BHP Billiton down 26p at 1,408p.
Over the pond it was better, and by the time London closed the DJIA was up 136 points at 7,796, whilst the S&P500 was up nearly 12 points at 818, and the Nasdaq up nearly 20 points at 1,536. Wall Street showed some fairly promising interest after the new homes sales figures impressed the market with a 4.7% rise in February.
Back here in London, despite news from ENRC that pre-tax profit was up to US$3.83 bln for 2008 (2007 - US$1.32 bln) with revenue up by 66% to US$6.8 bln, the shares closed down 18.5p at 410.5p, with peers following. Anglo American had the worst day, closing down 56p at 1,219p after a downgrade by RBS (yes, RBS), whilst Rio Tinto closed down 22p at 2,219p, and BHP Billiton down 26p at 1,408p.
Forex Market Update - London Wed 25Mar09
News of the poor Government Gilt auction did Cable no favours this morning as the Pound was under pressure. The bid to cover ratio was a very poor 0.93, which means that there were not enough bids for the amount being offered. This is apparently only the 2nd time ever that a gilt auction has failed, and the first time in the last 7 years.
Then in economic news, the Confederation of British Industry's monthly retail survey for April showed sales are expected to improve to -42 from -44 in March; hardly anything to celebrate.
GBP/USD was down some -100 pips during the session, sitting near 1.4560/70 as we approach the New York kick off.
EUR/GBP did the opposite, running north some +100 pips towards the 0.9270/75 area.
Euro Zone data wasn't brilliant, again, with the German IFO business climate index for March coming worse than expected at 82.1, down from 82.6 for February. This is a new low - since data began back in 1991.
EUR/USD did manage to add +35 pips towards the 1.3500 level, with EUR buying against the UK Pound taking precedent over any USD demand.
The Yen crosses were all up a little. USD/JPY was up about +15 pips to 97.60/70, whilst EUR/JPY was up about +50 pips to the 131.70/80 area.
USD/CAD stayed little changed near 1.2320/30, despite flirting through a key level early doors, as the black stuff stayed near the US$53 bbl level as we approach the inventory numbers due out this afternoon. This should see some USD/CAD action. Other data from the US is the new home sales figures, which are expected to be better than originally hoped. This should also help Wall Street, if indeed it is the case.
Then in economic news, the Confederation of British Industry's monthly retail survey for April showed sales are expected to improve to -42 from -44 in March; hardly anything to celebrate.
GBP/USD was down some -100 pips during the session, sitting near 1.4560/70 as we approach the New York kick off.
EUR/GBP did the opposite, running north some +100 pips towards the 0.9270/75 area.
Euro Zone data wasn't brilliant, again, with the German IFO business climate index for March coming worse than expected at 82.1, down from 82.6 for February. This is a new low - since data began back in 1991.
EUR/USD did manage to add +35 pips towards the 1.3500 level, with EUR buying against the UK Pound taking precedent over any USD demand.
The Yen crosses were all up a little. USD/JPY was up about +15 pips to 97.60/70, whilst EUR/JPY was up about +50 pips to the 131.70/80 area.
USD/CAD stayed little changed near 1.2320/30, despite flirting through a key level early doors, as the black stuff stayed near the US$53 bbl level as we approach the inventory numbers due out this afternoon. This should see some USD/CAD action. Other data from the US is the new home sales figures, which are expected to be better than originally hoped. This should also help Wall Street, if indeed it is the case.
Tuesday, 24 March 2009
Trade Update - Tues 24Mar09
FXLR Trade Summary - 24Mar09
It was another boring day in the Live Room, with just two intra-day calls made during the session. The CAD trade flirted with profit for some time, but it was too little to consider a trade and we still believed it would be a short. However, the trade went offside and whilst there was being some lunch enjoyed the trade was stopped out. The Yen trade is still running, but we took half positioon for +42 pips earlier on.
Summary
- No Live Room trade calls today.
- 2 Intra-day trade calls; 1 loss and 1 trade is still open.
Live room trades
- No trades today
Intra-day trades
USD/CAD - Short trade closed (-48 pips)
- Opened Short: USD/CAD @ 1.2222
- Stop level: 1.2270
- Target level: 1.2140
- Closed: 1.2270 (-48 pips)
USD/JPY - Short trade opened
- Opened Short: USD/JPY @ 98.19
- Half closed at 97.77 (+42 pips)
- Stop level: 98.65
- Target level: 97.00
See you in the morning.
FXLR team
It was another boring day in the Live Room, with just two intra-day calls made during the session. The CAD trade flirted with profit for some time, but it was too little to consider a trade and we still believed it would be a short. However, the trade went offside and whilst there was being some lunch enjoyed the trade was stopped out. The Yen trade is still running, but we took half positioon for +42 pips earlier on.
Summary
- No Live Room trade calls today.
- 2 Intra-day trade calls; 1 loss and 1 trade is still open.
Live room trades
- No trades today
Intra-day trades
USD/CAD - Short trade closed (-48 pips)
- Opened Short: USD/CAD @ 1.2222
- Stop level: 1.2270
- Target level: 1.2140
- Closed: 1.2270 (-48 pips)
USD/JPY - Short trade opened
- Opened Short: USD/JPY @ 98.19
- Half closed at 97.77 (+42 pips)
- Stop level: 98.65
- Target level: 97.00
See you in the morning.
FXLR team
Monday, 23 March 2009
Stock Market Update - Mon 23Mar09
The FTSE 100 closed up 109.96 points today at 3,952.81, whilst the FTSE 250 closed up 118.8 points at 6,391.21, and for those that are interested the FTSE Small Caps closed up 24.35 points at 1,729.96. The banks actually did ok today, with the US opened up quite sharply and gave a boost to London.
Over the pond, the DJIA was up a fairly healthy 323 points at 7,601, whilst the S&P500 was up nearly 35 points at 803, and the Nasdaq up nearly 61 points at 1,518. News of the US government plan to help investors purchase US$500 bln worth of toxic assets will definietly encourage lending. The US Treasury Department detailed a plan designed to help investors purchase US$500 bln worth of toxic assets that remain on bank balance sheets. Printing money, but they are not concerned. Some data helped, but whetehr it is very accuarte we don't know - home sales were up 5.1% in February, apparently, after expectations of a further fall also helped sentiment.
Back here in London, both US and Asian banking and financials did very well today, with investors feeling that the US plan to clean up its financial system will actually help the economy. This positive sentiment came over the pond, with the banks and insurers having a good day. Barclays had another good day, with news that it may be selling its iShares arm, closing up 16.5p at 121.5p. Peer Lloyds Banking Group closed up 6.2p at 61.5p, RBS up a penny at 25p, and HSBC closed up 46.75p at 417.75p.
Staying with financials, Old Mutual had a good day, closing up 7.5p at 51.3p, whilst Legal & General closed up 2.1p at 44.9p, The Pru up 15.5p at 348.25p, and Norwich Union owner Aviva closed up 26p at 264p.
On to the diggers, where the mining stocks also joined the bouyant feeling. Vedanta Resources closed up 45.5p at 682.5p after announcing it will be acquiring some more holding in Madras Aluminium Company Limited (MALCO), whcih will take its stake to some 93.2% in a deal worth US$34m. Peers also rallied. Anglo American closed up 75p at 1,366p, Rio Tinto up 264p at 2,292p, BHP up 61p at 1,507p, and Lonmin up 163p at 1,530p.
On to the black stuff, where oil was just over the US$53 bbl level, which helped the oil majors. BP closed up 12.25p at just shy of 478p, whilst RD Shell closed up 44p at 1,563p.
Over the pond, the DJIA was up a fairly healthy 323 points at 7,601, whilst the S&P500 was up nearly 35 points at 803, and the Nasdaq up nearly 61 points at 1,518. News of the US government plan to help investors purchase US$500 bln worth of toxic assets will definietly encourage lending. The US Treasury Department detailed a plan designed to help investors purchase US$500 bln worth of toxic assets that remain on bank balance sheets. Printing money, but they are not concerned. Some data helped, but whetehr it is very accuarte we don't know - home sales were up 5.1% in February, apparently, after expectations of a further fall also helped sentiment.
Back here in London, both US and Asian banking and financials did very well today, with investors feeling that the US plan to clean up its financial system will actually help the economy. This positive sentiment came over the pond, with the banks and insurers having a good day. Barclays had another good day, with news that it may be selling its iShares arm, closing up 16.5p at 121.5p. Peer Lloyds Banking Group closed up 6.2p at 61.5p, RBS up a penny at 25p, and HSBC closed up 46.75p at 417.75p.
Staying with financials, Old Mutual had a good day, closing up 7.5p at 51.3p, whilst Legal & General closed up 2.1p at 44.9p, The Pru up 15.5p at 348.25p, and Norwich Union owner Aviva closed up 26p at 264p.
On to the diggers, where the mining stocks also joined the bouyant feeling. Vedanta Resources closed up 45.5p at 682.5p after announcing it will be acquiring some more holding in Madras Aluminium Company Limited (MALCO), whcih will take its stake to some 93.2% in a deal worth US$34m. Peers also rallied. Anglo American closed up 75p at 1,366p, Rio Tinto up 264p at 2,292p, BHP up 61p at 1,507p, and Lonmin up 163p at 1,530p.
On to the black stuff, where oil was just over the US$53 bbl level, which helped the oil majors. BP closed up 12.25p at just shy of 478p, whilst RD Shell closed up 44p at 1,563p.
FXLR - Round up - Mon 23Mar09
Trade Round Up
We do hope you guys like the new website. It has been very hard work to get it there, but we are pleased. There will be extra features and additions as we move forward.
It would have been a much better day had we taken our own trade advice. The head and shoulders on the Euro-Dollar this morning was mentioned in the room as it was forming and explained in detail, but we missed it fall. Typical. One guy had an order set, so took the short. Then this afternoon there was a a Cable trade set up that we mailed out to everyone, but were not around to take it. One of the team had his order in so got the trade. By the time he got back he closed half and managed the 2nd half.
Trade Summary
- 1 Live Room trade call today; 1 loss.
- 1 Intra-day trade call; 1 loss.
Live room trades
USD/JPY - Short Call
- Live Room Call: Entry on the break of 95.70
- Trade: Break of support level
- 1st Level: 95.95, -25 pips
- Stop: 95.95
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (-45 pips)
- Open Short: GBP/USD @ 1.4525
- Stop level: 1.4570
- Target level: 1.4390
- Closed: 1.4570 (-45 pips)
Have a good evening.
We do hope you guys like the new website. It has been very hard work to get it there, but we are pleased. There will be extra features and additions as we move forward.
It would have been a much better day had we taken our own trade advice. The head and shoulders on the Euro-Dollar this morning was mentioned in the room as it was forming and explained in detail, but we missed it fall. Typical. One guy had an order set, so took the short. Then this afternoon there was a a Cable trade set up that we mailed out to everyone, but were not around to take it. One of the team had his order in so got the trade. By the time he got back he closed half and managed the 2nd half.
Trade Summary
- 1 Live Room trade call today; 1 loss.
- 1 Intra-day trade call; 1 loss.
Live room trades
USD/JPY - Short Call
- Live Room Call: Entry on the break of 95.70
- Trade: Break of support level
- 1st Level: 95.95, -25 pips
- Stop: 95.95
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (-45 pips)
- Open Short: GBP/USD @ 1.4525
- Stop level: 1.4570
- Target level: 1.4390
- Closed: 1.4570 (-45 pips)
Have a good evening.
Forex Market Update - London - Mon 23Mar09
It wasn't a very lively session this morning, but we did see some action - even if we missed it.
EUR gave up some of its Asian overnight gains as Euro Zone economic data was all rather weak. We don't think things will get any better there. The Euro Zone trade balance for January was poor, at -10.5B from -1.7B in December. This was well short of the -9.0B expected, and is also shy of the -11.1B all time low of January 2008.
EUR/USD shed about -50 pips, and was sitting around the 1.3640 as we approach the New York session.
On to the Yen, where the Yen crosses were under pressure as the stock markets push up. In Europe the markets are a bouyant +2% on the day so far, whilst US stock futures are actually up over +3% at the moment. Postive reaction to the Geithner plan for private sector cash to move in and help/cover the US$1 trillion of bad bank asset purchases has been taken well.
USD/JPY was up about +70 pips during the London session, up near the 96.70 level, whilst the EUR/JPY pair was up about +50 pips near the 132.00 area.
It looks like the trading during the New York session will be driven by risk. This Geithner plan is expected to come to fruition, as desperate help is needed over there, and news that US home sales are doing better than expected will only boost feeling. This homes sales news is due soon, with a 4.45m figure for February looking near the mark. This is down from 4.49 in January, but is still better than originally expected. Geithner is also speaking shortly, so watch for some other reactionary respjonses to what he has to say. Be careful.
EUR gave up some of its Asian overnight gains as Euro Zone economic data was all rather weak. We don't think things will get any better there. The Euro Zone trade balance for January was poor, at -10.5B from -1.7B in December. This was well short of the -9.0B expected, and is also shy of the -11.1B all time low of January 2008.
EUR/USD shed about -50 pips, and was sitting around the 1.3640 as we approach the New York session.
On to the Yen, where the Yen crosses were under pressure as the stock markets push up. In Europe the markets are a bouyant +2% on the day so far, whilst US stock futures are actually up over +3% at the moment. Postive reaction to the Geithner plan for private sector cash to move in and help/cover the US$1 trillion of bad bank asset purchases has been taken well.
USD/JPY was up about +70 pips during the London session, up near the 96.70 level, whilst the EUR/JPY pair was up about +50 pips near the 132.00 area.
It looks like the trading during the New York session will be driven by risk. This Geithner plan is expected to come to fruition, as desperate help is needed over there, and news that US home sales are doing better than expected will only boost feeling. This homes sales news is due soon, with a 4.45m figure for February looking near the mark. This is down from 4.49 in January, but is still better than originally expected. Geithner is also speaking shortly, so watch for some other reactionary respjonses to what he has to say. Be careful.
Friday, 20 March 2009
Stock Market Update - Fri 20Mar09
The FTSE100 was up 25.92 points at 3,842.85 with the FTSE250 off 1.86 points at 6,259.76 and the FTSE Smallcaps 11.91 points better at 1,714.23.
The larger Blue Chips closed the day's session modestly higher, with strength in insurance companies and recovering utility issues offsetting weakness in banking stocks. Wall Street trading was rather mixed after opening.
Over the pond, by the time London closed the DJI was up nearly 21 points at 7,421, whilst the S&P500 was down almost a point at 783, and the Nasdaq also down a point at 1,482. US stocks were mixed after opening as investors still weighed up the latest plans of the Federal Reserve and its wish to buy US government debt.
Back here in London, the National Audit Office report on the Treasury's handling of the crisis found that Northern Rock bank was still giving mortgages of up to 125% in early 2008. The NAO criticises the Treasury for not having checked out the bank's finances with sufficient thoroughness before it decided to nationalise. Stable door and closing comes to mind. This also kept focus fixed on the banking sector, with HSBC having a bad day, down 80.25p (17.7%) at 371p, with its eastern links not helping - with pressures in Hong Kong not helping and going ex-rights also taking toll. Fellow Asian-bias peer Standard Chartered was also weak, down some 15p at 895p, and recent favourite Barclays was down 7.5p at 105p. We feel there is more bad news to come, including from Barclays, whose published and declared 'assets' still look suspect.
Staying with financials, Insurer Legal & General carried on being popular, up 4.7p at 42.8p, while The Pru closed up 47.25p (16.5%) at 332.75p, and Norwice Union owner Aviva closed up 19.25p at 238p, and Standard Life closed up 22.9p at 188p.
On to mining, which had a good day in general, but Lonmin had a poor day, closing down 96p at 1,367p. Others did well, with Xstrata closing up 22p at 455p, and ENRC closing up 18.5p at 417.5p.
Oil explorers liked crude above US$52 bbl, with Cairn Energy closing up 86p at 2,010p, Tullow Oil up 39p at 834.5p, and BG Group up 42p higher at 1,087p. Th heavyweights also did well, with RD Shell closed up 8p at 1,519p, and BP up a penny at 463.5p.
The larger Blue Chips closed the day's session modestly higher, with strength in insurance companies and recovering utility issues offsetting weakness in banking stocks. Wall Street trading was rather mixed after opening.
Over the pond, by the time London closed the DJI was up nearly 21 points at 7,421, whilst the S&P500 was down almost a point at 783, and the Nasdaq also down a point at 1,482. US stocks were mixed after opening as investors still weighed up the latest plans of the Federal Reserve and its wish to buy US government debt.
Back here in London, the National Audit Office report on the Treasury's handling of the crisis found that Northern Rock bank was still giving mortgages of up to 125% in early 2008. The NAO criticises the Treasury for not having checked out the bank's finances with sufficient thoroughness before it decided to nationalise. Stable door and closing comes to mind. This also kept focus fixed on the banking sector, with HSBC having a bad day, down 80.25p (17.7%) at 371p, with its eastern links not helping - with pressures in Hong Kong not helping and going ex-rights also taking toll. Fellow Asian-bias peer Standard Chartered was also weak, down some 15p at 895p, and recent favourite Barclays was down 7.5p at 105p. We feel there is more bad news to come, including from Barclays, whose published and declared 'assets' still look suspect.
Staying with financials, Insurer Legal & General carried on being popular, up 4.7p at 42.8p, while The Pru closed up 47.25p (16.5%) at 332.75p, and Norwice Union owner Aviva closed up 19.25p at 238p, and Standard Life closed up 22.9p at 188p.
On to mining, which had a good day in general, but Lonmin had a poor day, closing down 96p at 1,367p. Others did well, with Xstrata closing up 22p at 455p, and ENRC closing up 18.5p at 417.5p.
Oil explorers liked crude above US$52 bbl, with Cairn Energy closing up 86p at 2,010p, Tullow Oil up 39p at 834.5p, and BG Group up 42p higher at 1,087p. Th heavyweights also did well, with RD Shell closed up 8p at 1,519p, and BP up a penny at 463.5p.
Forex Live Room - Trades Update - Friday 20Mar09
Summary
- 2 Live Room trade calls today; 1 win and 1 small loss.
- 1 Intra-day trade call from yesterday closed; 1 winner.
Live room trades
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2378
- Trade: Break of support level
- 1st Level: 1.2346, +32 pips
- 2nd Level: 1.2378, +0 pips (Ave. +16 pips)
- Stop: 1.2405
- (Allow few pips for slippage on entry/exit levels)
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.3668
- Trade: Break of support level
- 1st Level: 1.3673, -5 pips
- Stop: 1.3695
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
EUR/USD - Short trade closed (+27 pips, ave.)
Opened Short: EUR/USD @ 1.3688
Stop level: 1.3750
Target level: 1.3490
Closed: (1/2: +55 pips, 1/2 +0)
Half position closed at 1.3633
Have a good weekend.
FXLR team
www.forexliveroom.com
- 2 Live Room trade calls today; 1 win and 1 small loss.
- 1 Intra-day trade call from yesterday closed; 1 winner.
Live room trades
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2378
- Trade: Break of support level
- 1st Level: 1.2346, +32 pips
- 2nd Level: 1.2378, +0 pips (Ave. +16 pips)
- Stop: 1.2405
- (Allow few pips for slippage on entry/exit levels)
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.3668
- Trade: Break of support level
- 1st Level: 1.3673, -5 pips
- Stop: 1.3695
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
EUR/USD - Short trade closed (+27 pips, ave.)
Opened Short: EUR/USD @ 1.3688
Stop level: 1.3750
Target level: 1.3490
Closed: (1/2: +55 pips, 1/2 +0)
Half position closed at 1.3633
Have a good weekend.
FXLR team
www.forexliveroom.com
Thursday, 19 March 2009
Live Room Update - Thurs 19Mar09
FXLR Daily Roundup - 19th March 2009
Summary
Not a good start in the Live Room today. Our first trade ran in to profit by just 10 pips or so and turned back. Waited there and decided to go offside. It no longer looked a good trade so we closed it out. It was a similar story with the 2nd trade, where it no longer looked the same trade.
- 2 Live Room trade calls today; 2 losses.
- 1 Intra-day trade calls; trade is still open.
Live room trades
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2428
- Trade: Break of support level
- 1st Level: 1.2455 (-27 pips)
- Stop: 1.2455
- (Allow few pips for slippage on entry/exit levels)
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.3462
- Trade: Break of support level
- 1st Level: 1.3472 (-10 pips)
- Stop: 1.3487
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
EUR/USD - Short trade opened
Opened Short: EUR/USD @ 1.3688
Stop level: 1.3750
Target level: 1.3490
Half closed at 1.3633 (+55 pips)
This trade is being left open. Anotehr advice was sent via SMS and e-mail saying that there was still +35 pips to take as profit on the 2nd half, but we are leaving it rolling.
Summary
Not a good start in the Live Room today. Our first trade ran in to profit by just 10 pips or so and turned back. Waited there and decided to go offside. It no longer looked a good trade so we closed it out. It was a similar story with the 2nd trade, where it no longer looked the same trade.
- 2 Live Room trade calls today; 2 losses.
- 1 Intra-day trade calls; trade is still open.
Live room trades
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2428
- Trade: Break of support level
- 1st Level: 1.2455 (-27 pips)
- Stop: 1.2455
- (Allow few pips for slippage on entry/exit levels)
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.3462
- Trade: Break of support level
- 1st Level: 1.3472 (-10 pips)
- Stop: 1.3487
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
EUR/USD - Short trade opened
Opened Short: EUR/USD @ 1.3688
Stop level: 1.3750
Target level: 1.3490
Half closed at 1.3633 (+55 pips)
This trade is being left open. Anotehr advice was sent via SMS and e-mail saying that there was still +35 pips to take as profit on the 2nd half, but we are leaving it rolling.
Stock Market Update - Thurs 19Mar09
The FTSE 100 closed up 11.94 points today at 3,816.93, whilst the FTSE 250 closed up 69.92 points at 6,261.62, and for those that are interested the FTSE Small Caps closed up 13.23 points at 1,702.32.
The larger stocks had a fairly good day, although pulled back a bit in the afternoon after Wall Street opened. The financials did ok in London, but were offset by heavy falls in pharmaceuticals and utilities.
Over the pond, by the time London closed the DJIA was down nearly 78 points at 7,409, whilst the S&P500 was down over 7.00 points at 787, and the Nasdaq down about 7.5 points at 1,483.6. It was the US financial issues that set the dull tone on Wall Street, with data showing economic indicators fell 0.4% in February.
Back here in London, insurer Prudential had a decent day, closing up 33.75p at 285.5p after final results showed EEV operating profit up 17% at £2.961 bln for y/e 2008. New business profit was up 8% at £1.307 bln, and asset management operating profit up 3% to £345m. The full year dividend was upped by 5% to 18.9p per share. Not bad. This helped peers, with Legal & General closing up 6.9p at 38.1p, and Aviva closing up 21.35p at 218.75p.
Staying with financials, Barclays led the way with the banks, closing up another 16.5p at 112.5p, whilst peer Lloyds Banking Group closing up 6.8p at 54.4p, RBS up 1.1p at 24.2p, and HSBC closing up 14.5p at 451.25p after a slow start, saying it has now received approval for its £12.5 bln rights issue.
Bus and train operator FirstGroup also had a good day, closing up 43.25p at 252.5p after saying it expects to announce full year results in line with expectations, with the numbers helped by fixed contracts. This news also helped peers, with Stagecoach closing up 3.5p at 116.5p, National Express up 11.25p at 183.5p and Arriva up 31.5p at 397.25p.
The miners did well, with Xstrata rallying 52p to close at 433p after announcing that the remainder of its rights issue has now been sold at an average price of 393.65p per share. Peers followed, with Lonmin closing up 198p at 1,463p, Vedanta up 65p at 632.5p, ENRC closing up 25p at 399p, and Kazakhmys closing up 46.5p at 349.75p.
The larger stocks had a fairly good day, although pulled back a bit in the afternoon after Wall Street opened. The financials did ok in London, but were offset by heavy falls in pharmaceuticals and utilities.
Over the pond, by the time London closed the DJIA was down nearly 78 points at 7,409, whilst the S&P500 was down over 7.00 points at 787, and the Nasdaq down about 7.5 points at 1,483.6. It was the US financial issues that set the dull tone on Wall Street, with data showing economic indicators fell 0.4% in February.
Back here in London, insurer Prudential had a decent day, closing up 33.75p at 285.5p after final results showed EEV operating profit up 17% at £2.961 bln for y/e 2008. New business profit was up 8% at £1.307 bln, and asset management operating profit up 3% to £345m. The full year dividend was upped by 5% to 18.9p per share. Not bad. This helped peers, with Legal & General closing up 6.9p at 38.1p, and Aviva closing up 21.35p at 218.75p.
Staying with financials, Barclays led the way with the banks, closing up another 16.5p at 112.5p, whilst peer Lloyds Banking Group closing up 6.8p at 54.4p, RBS up 1.1p at 24.2p, and HSBC closing up 14.5p at 451.25p after a slow start, saying it has now received approval for its £12.5 bln rights issue.
Bus and train operator FirstGroup also had a good day, closing up 43.25p at 252.5p after saying it expects to announce full year results in line with expectations, with the numbers helped by fixed contracts. This news also helped peers, with Stagecoach closing up 3.5p at 116.5p, National Express up 11.25p at 183.5p and Arriva up 31.5p at 397.25p.
The miners did well, with Xstrata rallying 52p to close at 433p after announcing that the remainder of its rights issue has now been sold at an average price of 393.65p per share. Peers followed, with Lonmin closing up 198p at 1,463p, Vedanta up 65p at 632.5p, ENRC closing up 25p at 399p, and Kazakhmys closing up 46.5p at 349.75p.
Forex Market Update - London - Thurs 19Mar09
The green back continued to trade weaker in European trading as the Fed's surprise quantitative easing announcement took hold on traders' minds, with traders expressing concerns that this printing of cash like there is no tomorrow will erode the value of the USD.
Commodity prices did get stronger with hope that the Fed's move would stabilise the world's largest economy and with it demand for raw materials.
The FXLR Live Room call of the oil floor of US$38 last week seems to have been a good one, with the price of the black stuff over 50-bucks a barrel. In fact, oil prices rose over US$50 bbl for the first time since early January.
On to currency pairs, where EUR/USD broke over the 1.3520/30 level and quickly moved up to the 1.3630 area.
USD/JPY fell as recent lows at 95.70 were breached, sending the pair as low as around 94.50 as we approach the New York open.
Other major currencies also pressed the USD. It seems all were ganging up on the Dollar.
A mention of the shiny stuff, where Gold prices were now firmer, trading around the $930-$950 area.
We can say that we think the Federal Reserve's move was fairly aggressive, which has caused some instant pressure on the Dollar, we can sense that the ECB will now be forced to follow the 'quantitative easing' plans of the Fed, BOJ, BOE and SNB. But in the meantime we can see the Dollar under pressure, with continued dollar weakness for now. But be careful of retracements and fighteing back. Be careful.
Commodity prices did get stronger with hope that the Fed's move would stabilise the world's largest economy and with it demand for raw materials.
The FXLR Live Room call of the oil floor of US$38 last week seems to have been a good one, with the price of the black stuff over 50-bucks a barrel. In fact, oil prices rose over US$50 bbl for the first time since early January.
On to currency pairs, where EUR/USD broke over the 1.3520/30 level and quickly moved up to the 1.3630 area.
USD/JPY fell as recent lows at 95.70 were breached, sending the pair as low as around 94.50 as we approach the New York open.
Other major currencies also pressed the USD. It seems all were ganging up on the Dollar.
A mention of the shiny stuff, where Gold prices were now firmer, trading around the $930-$950 area.
We can say that we think the Federal Reserve's move was fairly aggressive, which has caused some instant pressure on the Dollar, we can sense that the ECB will now be forced to follow the 'quantitative easing' plans of the Fed, BOJ, BOE and SNB. But in the meantime we can see the Dollar under pressure, with continued dollar weakness for now. But be careful of retracements and fighteing back. Be careful.
Wednesday, 18 March 2009
Live Room Trades - Wed 18Mar09
FXLR Daily Roundup - 18th March 2009
Summary
It was a quiet morning again in the live room, with a Cable short being popular with the room members, but we weren't so sure, regrefully. Up to +90 pips were taken on that by at least one memebr. We took the Aussie trade, which did go in to profit a number of times, but nothing spectacular. Boredom saw us close that at breakeven after what seemed an eternity.
- One Live Room trade call today; closed at breakeven.
- 4 Intra-day trade calls; 2 wins, 1 loss, 1 trade still open
Live room trades
AUD/USD - Short Call
- Live Room Call: Entry on the break of 0.6605
- Trade: Break of support level
- 1st Level: 0.6605, +0 pips
- Stop: 0.6632
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/JPY - Short trade closed (+55 pips, ave.)
Opened Short: USD/JPY @ 98.57
Stop level: 99.05
Target level: 97.60
Closed: 97.82 (1/2: +35, 1/2: +75)
Half position closed at 98.22
- Good trade setup with a trendline break on the 5min chart.
- Stochastic were falling with adx rising, ie showing strength in the decline.
- The setup was close to one of the support levels.
USD/CAD - Short trade closed (-40 pips)
Opened Short: USD/CAD @ 1.2620
Stop level: 1.2660
Target level: 1.2500
Closed: 1.2660 (-40 pips)
Stop triggered
Took the short on the momentum. I usually wait for a pattern setup and paid the price with the loss.
USD/CHF - Short trade closed (+16 pips, ave.)
Open Short: USD/CHF @ 1.1666
Stop level: 1.1692
Target level: 1.1615
Closed: 1.1666 (1/2: +32, 1/2: 0)
Half position closed at 1.16634
- Nice setup, a double top on a small correction.
- Break of the trough was the entry.
- The break was near the sell level so all factors were in favour.
- On a setup like this the target is usually the height of the double top, however I expected further downside so took half and left half running.
GBP/USD - Short trade opened
Open Short: GBP/USD @ 1.3964
Stop level: 1.4015
Target level: 1.3880
Head and shoulders setup.
Have a good evening.
Summary
It was a quiet morning again in the live room, with a Cable short being popular with the room members, but we weren't so sure, regrefully. Up to +90 pips were taken on that by at least one memebr. We took the Aussie trade, which did go in to profit a number of times, but nothing spectacular. Boredom saw us close that at breakeven after what seemed an eternity.
- One Live Room trade call today; closed at breakeven.
- 4 Intra-day trade calls; 2 wins, 1 loss, 1 trade still open
Live room trades
AUD/USD - Short Call
- Live Room Call: Entry on the break of 0.6605
- Trade: Break of support level
- 1st Level: 0.6605, +0 pips
- Stop: 0.6632
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/JPY - Short trade closed (+55 pips, ave.)
Opened Short: USD/JPY @ 98.57
Stop level: 99.05
Target level: 97.60
Closed: 97.82 (1/2: +35, 1/2: +75)
Half position closed at 98.22
- Good trade setup with a trendline break on the 5min chart.
- Stochastic were falling with adx rising, ie showing strength in the decline.
- The setup was close to one of the support levels.
USD/CAD - Short trade closed (-40 pips)
Opened Short: USD/CAD @ 1.2620
Stop level: 1.2660
Target level: 1.2500
Closed: 1.2660 (-40 pips)
Stop triggered
Took the short on the momentum. I usually wait for a pattern setup and paid the price with the loss.
USD/CHF - Short trade closed (+16 pips, ave.)
Open Short: USD/CHF @ 1.1666
Stop level: 1.1692
Target level: 1.1615
Closed: 1.1666 (1/2: +32, 1/2: 0)
Half position closed at 1.16634
- Nice setup, a double top on a small correction.
- Break of the trough was the entry.
- The break was near the sell level so all factors were in favour.
- On a setup like this the target is usually the height of the double top, however I expected further downside so took half and left half running.
GBP/USD - Short trade opened
Open Short: GBP/USD @ 1.3964
Stop level: 1.4015
Target level: 1.3880
Head and shoulders setup.
Have a good evening.
Stock Market Update - Wed 18Mar09
The FTSE 100 closed down 52.11 points at 3,804.99, whilst the FTSE 250 closed down 20.09 points at 6,191.7, and the FTSE Small Caps down 3 points at 1,689.09.
The top shares didn't have a good day, on the whole, with news that unemployment in the UK was over 2m taking its toll. Things won't get better for a while, we are sure of that. Wall Street opened down as well.
Over the pond, by the time London closed the DJIA was down 62 points at 7,333, whilst the S&P500 was down about 2.5 points at 775.70, and the Nasdaq was actually up 4.50 points at 1,466.60. US stocks fell sharply after opoening as investors were waiting to see what came out of the latest two-day Federal Reserve policy meeting.
Back here in London, the banks were a mixed bunch, with HSBC closing down 23.25p at just shy of 437p, and Lloyds Banking Group closing down a smidge, off 0.4p at 47.6p. On the other hand, Barclays closed up another 4.7p at 96p, whilst the troubled RBS closed up 0.9p at 23.1p.
Staying with financials, the insurance groups were also mixed, with news from Old Mutual that it was closing its US Life offshore arm in Bermuda to all new business with immediate effect, which is part of its drive to 'manage risk and provide a satisfactory return on capital', saw the sahres close up a penny at 41.3p. Peers were mixed, with The Pru closing down 12.75p at 251.75p, Friends Provident closing down 4.4p at 61.8p, and Standard Life down 7.4p at 173p, although it did go ex-div.
The top shares didn't have a good day, on the whole, with news that unemployment in the UK was over 2m taking its toll. Things won't get better for a while, we are sure of that. Wall Street opened down as well.
Over the pond, by the time London closed the DJIA was down 62 points at 7,333, whilst the S&P500 was down about 2.5 points at 775.70, and the Nasdaq was actually up 4.50 points at 1,466.60. US stocks fell sharply after opoening as investors were waiting to see what came out of the latest two-day Federal Reserve policy meeting.
Back here in London, the banks were a mixed bunch, with HSBC closing down 23.25p at just shy of 437p, and Lloyds Banking Group closing down a smidge, off 0.4p at 47.6p. On the other hand, Barclays closed up another 4.7p at 96p, whilst the troubled RBS closed up 0.9p at 23.1p.
Staying with financials, the insurance groups were also mixed, with news from Old Mutual that it was closing its US Life offshore arm in Bermuda to all new business with immediate effect, which is part of its drive to 'manage risk and provide a satisfactory return on capital', saw the sahres close up a penny at 41.3p. Peers were mixed, with The Pru closing down 12.75p at 251.75p, Friends Provident closing down 4.4p at 61.8p, and Standard Life down 7.4p at 173p, although it did go ex-div.
Forex Market Update - London - Wed 18Mar09
Forex Market Update - London
It was a quiet morning at first, but when news of the UK unemployment figures came out we saw Cable take a hit. The UK unemployment rate jumped from 3.9% to 4.3% for February, higher than the forecast 4.0% rate. New jobless increased 138,400, which was far worse than the extra 84,800 expected.
GBP & USD both fell against the EUR, as EUR-GBP rose from around 0.9275 before the report to just over 0.9400, but then fell back as we approach the New York session.
GBP-USD fell from 1.4020 to a low around 1.3850 before bouncing back above 1.3900. One or two room members took the short trade on the break of our published 1.4010 level.
The dollar was actually pressed against most other majors, but it wasn't a very volatile session. Theer isn't really any substantial data out of the US today, with just the February CPI and weekly oil inventory reports to be announced. There is the FOMC chat on the state of the US economy and what it looks like moving forward, with this all starting at 2.15pm ET. This could cause some choppy USD pairs, so get ready but be careful.
It was a quiet morning at first, but when news of the UK unemployment figures came out we saw Cable take a hit. The UK unemployment rate jumped from 3.9% to 4.3% for February, higher than the forecast 4.0% rate. New jobless increased 138,400, which was far worse than the extra 84,800 expected.
GBP & USD both fell against the EUR, as EUR-GBP rose from around 0.9275 before the report to just over 0.9400, but then fell back as we approach the New York session.
GBP-USD fell from 1.4020 to a low around 1.3850 before bouncing back above 1.3900. One or two room members took the short trade on the break of our published 1.4010 level.
The dollar was actually pressed against most other majors, but it wasn't a very volatile session. Theer isn't really any substantial data out of the US today, with just the February CPI and weekly oil inventory reports to be announced. There is the FOMC chat on the state of the US economy and what it looks like moving forward, with this all starting at 2.15pm ET. This could cause some choppy USD pairs, so get ready but be careful.
Tuesday, 17 March 2009
Stock Market Update - Tues 17Mar09
The FTSE 100 cklosed down nearly 7 points today at 3,857.1, whilst the FTSE250 closed down 58.52 points at 6,211.79, and for those that are interested the FTSE Small Caps closed down 11.49 points at 1,692.09.
The headline shares closed down, but a later rally saw them close well off their lows. The utilities did well, just failing to offset the lower pharma stocks and the heavyweight miners, which were also affected by news from US mining giant Alcoa.
By the time London closed, the DJIA was up 45 points at 7,262, whilst the S&P500 was up 9 points at 762, and the Nasdaq up 26.53 points at 1,430.
US stocks were modestly higher in early trade as fairly better new homes data offset falls in the mining and commodities stocks after major Alcoa cut its dividend.
The headline shares closed down, but a later rally saw them close well off their lows. The utilities did well, just failing to offset the lower pharma stocks and the heavyweight miners, which were also affected by news from US mining giant Alcoa.
By the time London closed, the DJIA was up 45 points at 7,262, whilst the S&P500 was up 9 points at 762, and the Nasdaq up 26.53 points at 1,430.
US stocks were modestly higher in early trade as fairly better new homes data offset falls in the mining and commodities stocks after major Alcoa cut its dividend.
Live Room Roun dup - Tues 17Mar09
Live Room and Intra-day Calls Roundup - 17th March 2009
London Session
- No Live Room trade calls today
- 2 Intra-day trade calls; 1 win and 1 closed at breakeven.
Well, what a boring morning. We actually closed up 40 mins early. The markets were dead this morning, with just a faint sniff of a CAD trade and Aussie short trade. Both weren’t taken, and both just fell asleep as soon as they looked like starting. On putting up 5 min charts we saw next to no movement whatsoever.
In the afternoon we took couple of trades, a Euro-Dollar short and Cable long. Once again trading was very range bound. Trade details are below.
Intra-day trades
EUR/USD - Short trade closed (+18 pips, ave.)
Opened Short: EUR/USD @ 1.2973
Stop level: 1.3035
Target level: 1.2825
Closed: 1.2973 (1/2: +36, 1/2: 0)
Half position closed at 1.2937
GBP/USD - Long trade closed (+0 pips)
Open Long: GBP/USD @ 1.4013
Stop level: 1.3955
Target level: 1.4120
Closed: 1.4013 (+0 pips)
Have a good evening.
FXLR team
London Session
- No Live Room trade calls today
- 2 Intra-day trade calls; 1 win and 1 closed at breakeven.
Well, what a boring morning. We actually closed up 40 mins early. The markets were dead this morning, with just a faint sniff of a CAD trade and Aussie short trade. Both weren’t taken, and both just fell asleep as soon as they looked like starting. On putting up 5 min charts we saw next to no movement whatsoever.
In the afternoon we took couple of trades, a Euro-Dollar short and Cable long. Once again trading was very range bound. Trade details are below.
Intra-day trades
EUR/USD - Short trade closed (+18 pips, ave.)
Opened Short: EUR/USD @ 1.2973
Stop level: 1.3035
Target level: 1.2825
Closed: 1.2973 (1/2: +36, 1/2: 0)
Half position closed at 1.2937
GBP/USD - Long trade closed (+0 pips)
Open Long: GBP/USD @ 1.4013
Stop level: 1.3955
Target level: 1.4120
Closed: 1.4013 (+0 pips)
Have a good evening.
FXLR team
Monday, 16 March 2009
Forex - Live Room Trades - Mon16Mar09
London Session
- 2 Live Room trade calls today; 1 breakeven, 1 loss.
- 3 Intra-day trade calls; 1 win, 1 loss and 1 trade is still open.
Not the best start to the day but things soon picked up in the afternoon. We are bearish on the Pound, as you are aware, and the Euro. But it was tempeting to take the long trade on the break of 1.4065, but we decided against it. It did fall back under the line again, but the next time it went north through the line at least one room member took it, telling us via private message that he was in for 50 pips at least. He subsequently got +90 and +70, after taking the long trade at 1.4069, and closing half at 1.4159, and the other half at 1.4139 as it pulled back. He also took the Euro break up, but lost 10 pips on that one, but more than made up for it with the Cable-Yen trade, where he took 138.35 as a GBP-JPY long, closing half at 138.90 and the other half at 138.75. Well done.
We took a CAD trade, which decided to stagnate, so we closed it at evens. Once trades start to lose their direction and no longer appear to be in a direction, we feel we’d rather close them at break even than just leave them on a 50/50 chance.
We then took a Cable short trade at 1.4153 as we were convinced it was now turning down, but alas it continued so we chopped it at -57 at 1.4210. It then subsequently topped out and went short again at 1.4181, taking half out at 1.4137 for +44 pips. The trade was finally closed at 1.4065 (support level) for +116 pips.
A short trade on Dollar-Yen was taken a while back at 98.34. The trade is still running with about 15-17 pips profit at this stage.
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.2975
- Trade: Break of support level
- 1st Level: 1.3000, -25 pips
- Stop: 1.3000
- (Allow few pips for slippage on entry/exit levels)
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2672
- Trade: Break of support level
- 1st Level: 1.2672, +0 pips
- Stop: 1.2702
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (-57 pips)
Open Short: GBP/USD @ 1.4153
Stop level: 1.4210
Target level: 1.4015
Closed: 1.4210 (-57 pips)
Stop triggered
GBP/USD - Short trade update (+80 pips, ave.)
Open Short: GBP/USD @ 1.4181
Stop level: 1.4235
Target level: 1.4015
Closed: 1.4065 (1/2: +44, 1/2: +116)
Half profits taken 1.4137
Break of trendline on 5min.
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 98.34
Stop level: 98.75
Target level: 97.20
- 2 Live Room trade calls today; 1 breakeven, 1 loss.
- 3 Intra-day trade calls; 1 win, 1 loss and 1 trade is still open.
Not the best start to the day but things soon picked up in the afternoon. We are bearish on the Pound, as you are aware, and the Euro. But it was tempeting to take the long trade on the break of 1.4065, but we decided against it. It did fall back under the line again, but the next time it went north through the line at least one room member took it, telling us via private message that he was in for 50 pips at least. He subsequently got +90 and +70, after taking the long trade at 1.4069, and closing half at 1.4159, and the other half at 1.4139 as it pulled back. He also took the Euro break up, but lost 10 pips on that one, but more than made up for it with the Cable-Yen trade, where he took 138.35 as a GBP-JPY long, closing half at 138.90 and the other half at 138.75. Well done.
We took a CAD trade, which decided to stagnate, so we closed it at evens. Once trades start to lose their direction and no longer appear to be in a direction, we feel we’d rather close them at break even than just leave them on a 50/50 chance.
We then took a Cable short trade at 1.4153 as we were convinced it was now turning down, but alas it continued so we chopped it at -57 at 1.4210. It then subsequently topped out and went short again at 1.4181, taking half out at 1.4137 for +44 pips. The trade was finally closed at 1.4065 (support level) for +116 pips.
A short trade on Dollar-Yen was taken a while back at 98.34. The trade is still running with about 15-17 pips profit at this stage.
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.2975
- Trade: Break of support level
- 1st Level: 1.3000, -25 pips
- Stop: 1.3000
- (Allow few pips for slippage on entry/exit levels)
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2672
- Trade: Break of support level
- 1st Level: 1.2672, +0 pips
- Stop: 1.2702
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (-57 pips)
Open Short: GBP/USD @ 1.4153
Stop level: 1.4210
Target level: 1.4015
Closed: 1.4210 (-57 pips)
Stop triggered
GBP/USD - Short trade update (+80 pips, ave.)
Open Short: GBP/USD @ 1.4181
Stop level: 1.4235
Target level: 1.4015
Closed: 1.4065 (1/2: +44, 1/2: +116)
Half profits taken 1.4137
Break of trendline on 5min.
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 98.34
Stop level: 98.75
Target level: 97.20
Stock Market Update - Mon 16Mar09
The FTSE 100 closed up 110.31 points today at 3,863.99, whilst the FTSE 250 closed up 107.77 points at 6,270.31, and for those that are interested the FTSE Small Capos closed up 26.91 points at 1,703.58. Most of the bigger shares had a fairly good day, with Barclays having the best day after confirming disposal talks.
Over the pond, by the time London closed, the DJIA was up 106.25 points at 7,330, whilst the S&P500 was up 12 points at 769, and the Nasdaq up a point at 1,432. Wall Street was up early doors, with the banking shares eeming to be popular again. The Tech stocks were still under pressure.
Back here in London, it was the banks that did well. Barclays had a good day, up nearly 23% on the day, despite going to the government for some cash. Barclays closed up 16.8p at 90.9p, mainly on the back of confirming press reports regarding the potential disposal of iShares. Barclays also said that it is talking with HM Treasury and the FSA regarding its involvement in the Government's Asset Protection Scheme. Peers also did ok, with RBS up a penny at 22.8p, HSBC up over 30 at 442p, and Lloyds Banking Group up a smidge, 0.4p better off at 47.2p,
The insurers didn't do so well, with the exception of The Pru, who closed up 18.75p at 279.5p, with Legal & General closing down 0.6p at 30.3p, Admiral down 17.5p at 870p and Royal Sun Alliance down 3p at 133p. Old Mutual had the poorest day, at the bottom of the pile, in fact, closing down 1.4p at 38p.
Over the pond, by the time London closed, the DJIA was up 106.25 points at 7,330, whilst the S&P500 was up 12 points at 769, and the Nasdaq up a point at 1,432. Wall Street was up early doors, with the banking shares eeming to be popular again. The Tech stocks were still under pressure.
Back here in London, it was the banks that did well. Barclays had a good day, up nearly 23% on the day, despite going to the government for some cash. Barclays closed up 16.8p at 90.9p, mainly on the back of confirming press reports regarding the potential disposal of iShares. Barclays also said that it is talking with HM Treasury and the FSA regarding its involvement in the Government's Asset Protection Scheme. Peers also did ok, with RBS up a penny at 22.8p, HSBC up over 30 at 442p, and Lloyds Banking Group up a smidge, 0.4p better off at 47.2p,
The insurers didn't do so well, with the exception of The Pru, who closed up 18.75p at 279.5p, with Legal & General closing down 0.6p at 30.3p, Admiral down 17.5p at 870p and Royal Sun Alliance down 3p at 133p. Old Mutual had the poorest day, at the bottom of the pile, in fact, closing down 1.4p at 38p.
Forex Market Update - Mon 16Mar09
London Session
The EUR and other major currencies continued to press the green back today, with the European bourses all having a positive start to the week as well. News that the G20 would be increasing its funding to the IMF, which in turn would help the troubles Eatsern European economies, helped the Euro.
The USD continued to lose ground as its risk averse/safe haven appeal weakened, with many seeing an all round better market scenario. As mentioned above, the European stock markets were doing well, up some 2.5%, whilst US futures were looking at a 1% lift as New York approaches.
JPY pairs pushed higher as risk appetites improve, which also saw gold fall back some 5-bucks to US$925 oz.
On to the black stuff, where oil also fell back to around US$47 bbl, with news that OPEC declined to cut output in light of the global downturn.
EUR/USD nudged up over the 1.2950 highs from last week, trading as high as 1.3060/65 by the time New York was approaching.
GBP/USD broke through the 1.4050 level and was trading just below intra-day highs around the 1.4225/30 level.
The EUR and other major currencies continued to press the green back today, with the European bourses all having a positive start to the week as well. News that the G20 would be increasing its funding to the IMF, which in turn would help the troubles Eatsern European economies, helped the Euro.
The USD continued to lose ground as its risk averse/safe haven appeal weakened, with many seeing an all round better market scenario. As mentioned above, the European stock markets were doing well, up some 2.5%, whilst US futures were looking at a 1% lift as New York approaches.
JPY pairs pushed higher as risk appetites improve, which also saw gold fall back some 5-bucks to US$925 oz.
On to the black stuff, where oil also fell back to around US$47 bbl, with news that OPEC declined to cut output in light of the global downturn.
EUR/USD nudged up over the 1.2950 highs from last week, trading as high as 1.3060/65 by the time New York was approaching.
GBP/USD broke through the 1.4050 level and was trading just below intra-day highs around the 1.4225/30 level.
Friday, 13 March 2009
Live Room Trade Updates - Fri 13Mar09
Another Friday 13th. 4 weeks since the last one. No problems, though, except for the Euro short trade chosen decided to go north after just 10 or 15 pips into profit. We closed out at -26 as it no longer looked attarctive, but those who stayed did well, taking up to +31 pips on the trade once it turned again. One usual suspect went even in again! Then the CAD trade was much better for everyone, except us again, it seems. We got so fed up waiting for it, with two or three attempts to go further than +10 pips that we decided to close it at evens. Within a minute of us saying we were closing - off it went south, with gains of +24 & +49 pips for one room member, and Jamie also bagging a bunch, too. So, all in all it was a fairly quiet morning in the room, with the regrets seeming to being ours, of course. Friday 13th, we suppose. The JPY intra-day trade made up for the early Euro close. Still, we had such a good day yetserday, an even day to follow isn't too bad. Friday 13th, and all that...
London Session
- 2 Live Room trade calls today; 1 breakeven, 1 loss.
- 1 Intra-day trade call; 1 win.
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.2884
- Trade: Break of support level
- 1st Level: 1.2910, -26 pips
- Stop: 1.2910
- (Allow few pips for slippage on entry/exit levels)
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2765
- Trade: Break of support level
- 1st Level: 1.2765, +0 pips
- Stop: 1.2812
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/JPY - Short trade
Opened Short: USD/JPY @ 98.25
Closed @ 97.97, +28 pips
Stop level: 98.75
Target level: 97.20
Break of trendline 15min.
Have a good weekend.
London Session
- 2 Live Room trade calls today; 1 breakeven, 1 loss.
- 1 Intra-day trade call; 1 win.
EUR/USD - Short Call
- Live Room Call: Entry on the break of 1.2884
- Trade: Break of support level
- 1st Level: 1.2910, -26 pips
- Stop: 1.2910
- (Allow few pips for slippage on entry/exit levels)
USD/CAD - Short Call
- Live Room Call: Entry on the break of 1.2765
- Trade: Break of support level
- 1st Level: 1.2765, +0 pips
- Stop: 1.2812
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/JPY - Short trade
Opened Short: USD/JPY @ 98.25
Closed @ 97.97, +28 pips
Stop level: 98.75
Target level: 97.20
Break of trendline 15min.
Have a good weekend.
Forex Market Update - Fri 13Mar09
Forex Update
Euro Finally Turns Lower against USD & GBP, but Gains against JPY
The €uro finally headed lower against the green back & Pound today after its recent fairly strong run, but it did do better against the Yen. The €uro turned lower against the USD after earlier pushing on with its 2 1/2-week high to 1.2956. The paid fell back to near 1.2880 by lunchtime.
The European currency also fell against the British Pound, falling away from the 6-week high of 0.9318 it reached yesterday. The pair moved at 0.9230 in early afternoon trading, this after falling below 0.9170 earlier in the morning. The €uro extended its highest level in more than 2 months to 127.63 against the JPY. It had been a good week for the €uro, thoug.
Japan's Prime Minister Taro Aso ordered ruling parties to craft additional stimulus measures that cover several fiscal years to combat recession in the 2nd largest global economy. A Mainichi newspaper reported that Japan's third stimulus plan might be worth some 20 trillion Yen.
On to data - where Euro Zone retail sales fell 2.2% from a year ago, which is a slower pace than December's 2.4% decline. It was about near the mark, with -2.3% expected.
Euro Zone labour costs increased 3.8% on the year for the 4th quarter, which was smaller than a revised 4.2% growth in Q3. This was a bit better than the 3.6% expected.
Germany's Federal Statistical Office said that the real manufacturing turnover decreased a working day adjusted 20% year on year in January, which was compared with a 12.6% fall in December. This was the highest annual decline since 1991. Germany is feeling it. We think that Eastern europe will start weighing on the €uro.
Have a good weekend.
Euro Finally Turns Lower against USD & GBP, but Gains against JPY
The €uro finally headed lower against the green back & Pound today after its recent fairly strong run, but it did do better against the Yen. The €uro turned lower against the USD after earlier pushing on with its 2 1/2-week high to 1.2956. The paid fell back to near 1.2880 by lunchtime.
The European currency also fell against the British Pound, falling away from the 6-week high of 0.9318 it reached yesterday. The pair moved at 0.9230 in early afternoon trading, this after falling below 0.9170 earlier in the morning. The €uro extended its highest level in more than 2 months to 127.63 against the JPY. It had been a good week for the €uro, thoug.
Japan's Prime Minister Taro Aso ordered ruling parties to craft additional stimulus measures that cover several fiscal years to combat recession in the 2nd largest global economy. A Mainichi newspaper reported that Japan's third stimulus plan might be worth some 20 trillion Yen.
On to data - where Euro Zone retail sales fell 2.2% from a year ago, which is a slower pace than December's 2.4% decline. It was about near the mark, with -2.3% expected.
Euro Zone labour costs increased 3.8% on the year for the 4th quarter, which was smaller than a revised 4.2% growth in Q3. This was a bit better than the 3.6% expected.
Germany's Federal Statistical Office said that the real manufacturing turnover decreased a working day adjusted 20% year on year in January, which was compared with a 12.6% fall in December. This was the highest annual decline since 1991. Germany is feeling it. We think that Eastern europe will start weighing on the €uro.
Have a good weekend.
Stock Market Update - Fri 13Mar09
LONDON
The FTSE 100 closed up 41.62 points today at 3,753.68, whilst the FTSE 250 closed up 100.72 points at 6,162.54, and for those that are interested the FTSE Small Caps closed up 23.13 points at 1,676.67.
The Big Boys of the Top 100 fell back as the session wore on, closing well off the day's highs reached this morning. The bankers and insurers, miners and property companies did the best, but Wall Street soon put a dampener on it all.
NEW YORK
By the time London closed, the DJIA was down 45 points at 7,125, whilst the S&P500 was down over 5 points at at 745, and the Nasdaq down nearly 14 points at 1,412. It wasn't a good morning over the pond, but not drastically bad, as recent optimism over the financial sector waned and the technology stocks pulled back some more.
LONDON MARKETS
The banking stocks did better, with Barclays having the best day, closing up 2.2p at 74.1p. RBS closed up 0.7p to 21.8p, HSBC up 25.75p at 411.75p, Standard Chartered up 44.5p at 856p, and Lloyds Banking Group closed up 1.1p at 46.8p.
Staying with financials, some of the insurance firms were also looking popular, with Legal & General doing well, closing up 1.9p at 30.9p, whilst Old Mutual also made some solid gains, closing up 0.8p at 39.4p. Howeevr, Insurers also provided two of the worst performers of the day, with Friends Provident closing down 4p at 68.3p, and Admiral down 29p at just shy of 888p.
On to the miners, where Xstrata closed up 33.75p at 360p, Vedanta Resources up 9.5p at 592.5p, Anglo American up 10p at 1,115p, and Rio Tinto up 17p at 2,077p. Quite a good day for the miners.
And commercial property companies also enjoyed soime inetrest, with Land Securities having the best day, closing up 29.5p at 370.5p, whilst British Land closed up 22.25p at 334p, and Hammerson up 8.5p at 245.5p.
The FTSE 100 closed up 41.62 points today at 3,753.68, whilst the FTSE 250 closed up 100.72 points at 6,162.54, and for those that are interested the FTSE Small Caps closed up 23.13 points at 1,676.67.
The Big Boys of the Top 100 fell back as the session wore on, closing well off the day's highs reached this morning. The bankers and insurers, miners and property companies did the best, but Wall Street soon put a dampener on it all.
NEW YORK
By the time London closed, the DJIA was down 45 points at 7,125, whilst the S&P500 was down over 5 points at at 745, and the Nasdaq down nearly 14 points at 1,412. It wasn't a good morning over the pond, but not drastically bad, as recent optimism over the financial sector waned and the technology stocks pulled back some more.
LONDON MARKETS
The banking stocks did better, with Barclays having the best day, closing up 2.2p at 74.1p. RBS closed up 0.7p to 21.8p, HSBC up 25.75p at 411.75p, Standard Chartered up 44.5p at 856p, and Lloyds Banking Group closed up 1.1p at 46.8p.
Staying with financials, some of the insurance firms were also looking popular, with Legal & General doing well, closing up 1.9p at 30.9p, whilst Old Mutual also made some solid gains, closing up 0.8p at 39.4p. Howeevr, Insurers also provided two of the worst performers of the day, with Friends Provident closing down 4p at 68.3p, and Admiral down 29p at just shy of 888p.
On to the miners, where Xstrata closed up 33.75p at 360p, Vedanta Resources up 9.5p at 592.5p, Anglo American up 10p at 1,115p, and Rio Tinto up 17p at 2,077p. Quite a good day for the miners.
And commercial property companies also enjoyed soime inetrest, with Land Securities having the best day, closing up 29.5p at 370.5p, whilst British Land closed up 22.25p at 334p, and Hammerson up 8.5p at 245.5p.
Thursday, 12 March 2009
Intra-day Trade Update - Thurs 12Mar09
Intra-day Trade update - Thurs 12Mar09
The last of the 5 intra-day trades, the Swissie, is now closed.
Trade Alert: USD/CHF - Short trade closed
USD/CHF - Short trade closed
Open Short: USD/CHF @ 1.1955
Stop level: 1.2005
Target level: 1.1770
Closed: 1.1847 (1/2: +59, 1/2: +108)
The last of the 5 intra-day trades, the Swissie, is now closed.
Trade Alert: USD/CHF - Short trade closed
USD/CHF - Short trade closed
Open Short: USD/CHF @ 1.1955
Stop level: 1.2005
Target level: 1.1770
Closed: 1.1847 (1/2: +59, 1/2: +108)
Forex Live Room Trades Update - Thurs 12Mar09
Live Room Trade Summary – Thurs 12Mar09
After a boring, range-bound and almost ‘weird’ start to the week from Monday through to yesterday, today was much better. Far, far better, in fact. It was a good start, with early short calls sent out before the room opened for GBP & EUR. Both were looking weaker, and broke critical lines, so we went in short. Some room members did even better by entering the trades on retracement.
The first trade as was the Euro on the break of the 1.2832 level, and the second was the Cable trade on the break of 1.3850. Part closes followed, with half of the Euro taken at 1.2776, and half the GBP taken at 1.3798. Final close on the Cable was 1.3850, and Euro at 1.2832. One or two room members even entered the Cable short trade again on the break of the 1.3775 level (at 1.3769) and took another +40 pips before approaching 1.3722 level. Another nice trade.
In fact, it was fairly lively in the room in general, as well, with others looking to take the CAD short trade on break of trendline and then the 1.2906 level.
There were 5 intra-day calls made, with the first coming during the Live Room session where a trade was taken on the USD-JPY, with the trade called at 96.00, and a close taken at 95.88, another short-term scalp for 12 pips.
Another Cable trade was taken at around 9.30 as another Cable short, this time at 1.3763. A tight stop was added as we had done so well earlier on. The trade was closed at 1.3783, for a -20 loss.
More trades followed – details below.
A nice morning, and early afternoon, all in all.
London Session
- 2 Live Room trade calls today; 1 win and 1 loss.
- 5 Intra-day trade calls; 4 wins and 1 trade is still open.
USD/JPY - Short Call
- Live Room Call: Entry on the break of 96.00
- Trade: Break of support level
- 1st Level: 95.88, +14 pips
- Stop: 96.25
- (Allow few pips for slippage on entry/exit levels)
GBP/USD - Short Call
- Live Room Call: Entry on the break of 1.3763
- Trade: Break of support level
- 1st Level: 1.3783, -20 pips
- Stop: 1.3783
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (+87 pips, ave.)
Opened Short: GBP/USD @ 1.3850
Stop level: 1.3905
Target level: 1.3725
Closed: 1.3729 (1/2: +52, 1/2: +121)
Half position closed at 1.3798 (+52 pips)
EUR/USD - Short trade closed (+73 pips, ave.)
Open Short: EUR/USD @ 1.2832
Stop level: 1.2875
Target level: 1.2710
Closed: 1.2742 (1/2: +56, 1/2: +90)
Half position closed at 1.2776 (+56pips)
EUR/USD - Long trade closed (+11 pips, ave.)
Open Long: EUR/USD @ 1.2793
Stop level: 1.2760
Target level: 1.2870
Closed: 1.2793 (1/2: +22, 1/2: +0)
Break out of pennant.
Half position closed 1.2815
GBP/USD - Long trade closed (+12 pips, ave.)
Opened Long: GBP/USD @ 1.3794
Stop level: 1.3765
Target level: 1.3900
Closed: 1.3794 (1/2: +24, 1/2: +0)
Break out of pennant.
Half position closed 1.3818
USD/CHF - Short trade – half position still open.
Open Short: USD/CHF @ 1.1955
Stop level: 1.2005
Target level: 1.1770
Closed: 1.1955 (1/2: +59, 1/2:
Previous trendline which is still acting as resistance!
Half closed at 1.1896 (+59)
Come and join the Pros... www.marketbytes.com
After a boring, range-bound and almost ‘weird’ start to the week from Monday through to yesterday, today was much better. Far, far better, in fact. It was a good start, with early short calls sent out before the room opened for GBP & EUR. Both were looking weaker, and broke critical lines, so we went in short. Some room members did even better by entering the trades on retracement.
The first trade as was the Euro on the break of the 1.2832 level, and the second was the Cable trade on the break of 1.3850. Part closes followed, with half of the Euro taken at 1.2776, and half the GBP taken at 1.3798. Final close on the Cable was 1.3850, and Euro at 1.2832. One or two room members even entered the Cable short trade again on the break of the 1.3775 level (at 1.3769) and took another +40 pips before approaching 1.3722 level. Another nice trade.
In fact, it was fairly lively in the room in general, as well, with others looking to take the CAD short trade on break of trendline and then the 1.2906 level.
There were 5 intra-day calls made, with the first coming during the Live Room session where a trade was taken on the USD-JPY, with the trade called at 96.00, and a close taken at 95.88, another short-term scalp for 12 pips.
Another Cable trade was taken at around 9.30 as another Cable short, this time at 1.3763. A tight stop was added as we had done so well earlier on. The trade was closed at 1.3783, for a -20 loss.
More trades followed – details below.
A nice morning, and early afternoon, all in all.
London Session
- 2 Live Room trade calls today; 1 win and 1 loss.
- 5 Intra-day trade calls; 4 wins and 1 trade is still open.
USD/JPY - Short Call
- Live Room Call: Entry on the break of 96.00
- Trade: Break of support level
- 1st Level: 95.88, +14 pips
- Stop: 96.25
- (Allow few pips for slippage on entry/exit levels)
GBP/USD - Short Call
- Live Room Call: Entry on the break of 1.3763
- Trade: Break of support level
- 1st Level: 1.3783, -20 pips
- Stop: 1.3783
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (+87 pips, ave.)
Opened Short: GBP/USD @ 1.3850
Stop level: 1.3905
Target level: 1.3725
Closed: 1.3729 (1/2: +52, 1/2: +121)
Half position closed at 1.3798 (+52 pips)
EUR/USD - Short trade closed (+73 pips, ave.)
Open Short: EUR/USD @ 1.2832
Stop level: 1.2875
Target level: 1.2710
Closed: 1.2742 (1/2: +56, 1/2: +90)
Half position closed at 1.2776 (+56pips)
EUR/USD - Long trade closed (+11 pips, ave.)
Open Long: EUR/USD @ 1.2793
Stop level: 1.2760
Target level: 1.2870
Closed: 1.2793 (1/2: +22, 1/2: +0)
Break out of pennant.
Half position closed 1.2815
GBP/USD - Long trade closed (+12 pips, ave.)
Opened Long: GBP/USD @ 1.3794
Stop level: 1.3765
Target level: 1.3900
Closed: 1.3794 (1/2: +24, 1/2: +0)
Break out of pennant.
Half position closed 1.3818
USD/CHF - Short trade – half position still open.
Open Short: USD/CHF @ 1.1955
Stop level: 1.2005
Target level: 1.1770
Closed: 1.1955 (1/2: +59, 1/2:
Previous trendline which is still acting as resistance!
Half closed at 1.1896 (+59)
Come and join the Pros... www.marketbytes.com
Stock Market Update - Thurs 12Mar09
LONDON
The FTSE closed up 18.25 points today at 3,712.06, whilst the FTSE 250 closed up 35.14 points at 6,061.82, and for those that are interested the FTSE Small Caps closed down a little 3.45 points at 1,653.54.
Most of the bigger stocks had a fairly good day, with some decent results helping the likes of Standard Life, Morrisons and Inmarsat, whilst a fairly good start on Wall Street also kept buyers in later in the day, offsetting the weakness of the mining sector in the UK.
NEW YORK
Over the pond, by the time London closed the DJIA was up 102 points at 7,032, whilst the S&P500 was up 12 points at 733.78, and the Nasdaq up 21 points at 1,393.
Wall Street actually had a fairly good start despite fairly mixed economic data that confirmed a weak jobs market but some better than expected retail sales.
LONDON SUMMARY
Back here in London, the insuers didn't all do very well despite Standard Life's reported pre-tax operating profit up by 6%, which was better than expected. Standard Life closed up 11.5p at 172.8p, whilst peer Friends Provident closed up 6.2p at 72.3p, but Norwich Union owener Aviva (they'll be changing the name soon - it was on the telly), did very poorly, down at the bottom of the performance tree for the day, closing down some 22.5p at 191p, whilst The Pru closed down 1.5p at just shy of 258p.
The banks picked up later on today, although RBS closed down 0.1p at 21.1p. Barclays did better, closing up 1.9p to 71.9p, whilst Lloyds Banking Group closed up 1.2p at 45.7p. HSBC closed up 12p at 386p.
The miners didn't fair as well, though, with Xstrata closing down 20p at 326.25p, Lonmin down 9p to 1,295p, Anglo American down 39p at 1,105p and Antofagasta closing down 24.5p at 511p.
The pharmaceuticals did well, with AstraZeneca closing up 38p at 2,287p, GlaxoSmithKline closing up 28.5p at 1,041.5p, and Shire Pharma closing up 32p at 812p.
The FTSE closed up 18.25 points today at 3,712.06, whilst the FTSE 250 closed up 35.14 points at 6,061.82, and for those that are interested the FTSE Small Caps closed down a little 3.45 points at 1,653.54.
Most of the bigger stocks had a fairly good day, with some decent results helping the likes of Standard Life, Morrisons and Inmarsat, whilst a fairly good start on Wall Street also kept buyers in later in the day, offsetting the weakness of the mining sector in the UK.
NEW YORK
Over the pond, by the time London closed the DJIA was up 102 points at 7,032, whilst the S&P500 was up 12 points at 733.78, and the Nasdaq up 21 points at 1,393.
Wall Street actually had a fairly good start despite fairly mixed economic data that confirmed a weak jobs market but some better than expected retail sales.
LONDON SUMMARY
Back here in London, the insuers didn't all do very well despite Standard Life's reported pre-tax operating profit up by 6%, which was better than expected. Standard Life closed up 11.5p at 172.8p, whilst peer Friends Provident closed up 6.2p at 72.3p, but Norwich Union owener Aviva (they'll be changing the name soon - it was on the telly), did very poorly, down at the bottom of the performance tree for the day, closing down some 22.5p at 191p, whilst The Pru closed down 1.5p at just shy of 258p.
The banks picked up later on today, although RBS closed down 0.1p at 21.1p. Barclays did better, closing up 1.9p to 71.9p, whilst Lloyds Banking Group closed up 1.2p at 45.7p. HSBC closed up 12p at 386p.
The miners didn't fair as well, though, with Xstrata closing down 20p at 326.25p, Lonmin down 9p to 1,295p, Anglo American down 39p at 1,105p and Antofagasta closing down 24.5p at 511p.
The pharmaceuticals did well, with AstraZeneca closing up 38p at 2,287p, GlaxoSmithKline closing up 28.5p at 1,041.5p, and Shire Pharma closing up 32p at 812p.
Wednesday, 11 March 2009
Stock Market Update - Wed 11Mar09
London
The FTSE closed down 21.42 points at 3,693.81, whilst the FTSE 250 closed down 71.88 points at 6,026.68, and for those that are interested the FTSE Small Caps actually closed up 9.74 points at 1,656.99. The bigger stocks were mostly lower, though, although did some cycling in and out of positive territory.
NEW YORK
By the time London closed, the DJIA was up about 11 points at 6,938, trying its hardest to continue the decent rally yesterday and try and get to 7,000 again. The S&P500 was up about 3 points at 722, and the Nasdaq up 9 points at 1,367.
The FTSE closed down 21.42 points at 3,693.81, whilst the FTSE 250 closed down 71.88 points at 6,026.68, and for those that are interested the FTSE Small Caps actually closed up 9.74 points at 1,656.99. The bigger stocks were mostly lower, though, although did some cycling in and out of positive territory.
NEW YORK
By the time London closed, the DJIA was up about 11 points at 6,938, trying its hardest to continue the decent rally yesterday and try and get to 7,000 again. The S&P500 was up about 3 points at 722, and the Nasdaq up 9 points at 1,367.
Forex Live Room Update - Wed 11Mar09
London Session
It was a very unusual morning in the Live Room this morning. The early Cable trade called well before the room opened was missed by just about everyuone, and lucky it was as it immediately ran offside despite going through our critical short level. Still, we made up for it afterwards, and after the room closed. Mind you, the Yen short was closed at over +40 pips profit, and no sooner had it been closed it ran further lower. Just unlucky there. Would have been a massive trade, but these things happen, of course.
- 1 Live Room trade call today; 1 win
- 2 Intra-day trade calls; 1 win and 1 loss.
USD/CAD- Short Call
- Live Room Call: Entry on the break of 1.2833
- Trade: Break of trendline level
- 1st Level: 1.2780, +53 pips
- 2nd Level: 1.2788, +45 pips (Average close +49 pips)
- Stop: 1.2865
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/JPY - Short trade closed (+44 pips, ave.)
Opened Short: USD/JPY @ 98.50
Stop level: 99.25
Target level: 97.20
Closed: 98.09 (1/2: +47, 1/2: +41)
GBP/USD - Short trade closed (-69 pips)
Opened Short: GBP/USD @ 1.3681
Stop level: 1.3750
Target level: 1.3550
Closed: 1.3750 (-69 pips)
It was a very unusual morning in the Live Room this morning. The early Cable trade called well before the room opened was missed by just about everyuone, and lucky it was as it immediately ran offside despite going through our critical short level. Still, we made up for it afterwards, and after the room closed. Mind you, the Yen short was closed at over +40 pips profit, and no sooner had it been closed it ran further lower. Just unlucky there. Would have been a massive trade, but these things happen, of course.
- 1 Live Room trade call today; 1 win
- 2 Intra-day trade calls; 1 win and 1 loss.
USD/CAD- Short Call
- Live Room Call: Entry on the break of 1.2833
- Trade: Break of trendline level
- 1st Level: 1.2780, +53 pips
- 2nd Level: 1.2788, +45 pips (Average close +49 pips)
- Stop: 1.2865
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/JPY - Short trade closed (+44 pips, ave.)
Opened Short: USD/JPY @ 98.50
Stop level: 99.25
Target level: 97.20
Closed: 98.09 (1/2: +47, 1/2: +41)
GBP/USD - Short trade closed (-69 pips)
Opened Short: GBP/USD @ 1.3681
Stop level: 1.3750
Target level: 1.3550
Closed: 1.3750 (-69 pips)
Forex Market Update - London - Wed11Mar09
London Session
Investors were happy with risk again, it seems, fighting back against the USD ralkly yesterday. The European stock markets were up about +1.3% by lunchtime, whilst US futures are showing a gap up of about +1.0% at opening.
Gold is up about 3-bucks to around US$902/901, this after the expected supprt at the $890 level, with buyers returning.
Euro Zone data wasn't very exciting, with German factory orders down -8.0% in January, after a -7.6% in December. This took the annual rate to an abysmal -37.9%, which is th worst since records began in 1992. But EUR ignored this and was doing well. EUR-USD was up more than 90 pips during the London session and was sitting near 1.2750/60 as we approach the New York open. But we could see some possible reverse trades here, so watch out. We are bearish €uro longer term. Eastern Europe will be a weight round the European currency as time progresses, we feel.
The Yen crosses confirmed some €UR strength. EUR-JPY was up more than 70 pips to the 125.30/40 area, with USD-JPY down about -20 pips near the 98.30/40 area.
The New York session will see some economic data worth looking at. Canada home prices and weekly oil inventory data are on the menu. Home prices are expected to fall 0.2% in January, down from -0.1% in December, and oil inventories are expected to actually be higher, maybe some +250,000 bbl. We may see some action in the USD-CAD on the back of that. The pair remain under pressure under this 1.2800 level, so we would expect some decent support if we run down near 1.2710/00 area, but a long trade is more likely as the session moves on.
Investors were happy with risk again, it seems, fighting back against the USD ralkly yesterday. The European stock markets were up about +1.3% by lunchtime, whilst US futures are showing a gap up of about +1.0% at opening.
Gold is up about 3-bucks to around US$902/901, this after the expected supprt at the $890 level, with buyers returning.
Euro Zone data wasn't very exciting, with German factory orders down -8.0% in January, after a -7.6% in December. This took the annual rate to an abysmal -37.9%, which is th worst since records began in 1992. But EUR ignored this and was doing well. EUR-USD was up more than 90 pips during the London session and was sitting near 1.2750/60 as we approach the New York open. But we could see some possible reverse trades here, so watch out. We are bearish €uro longer term. Eastern Europe will be a weight round the European currency as time progresses, we feel.
The Yen crosses confirmed some €UR strength. EUR-JPY was up more than 70 pips to the 125.30/40 area, with USD-JPY down about -20 pips near the 98.30/40 area.
The New York session will see some economic data worth looking at. Canada home prices and weekly oil inventory data are on the menu. Home prices are expected to fall 0.2% in January, down from -0.1% in December, and oil inventories are expected to actually be higher, maybe some +250,000 bbl. We may see some action in the USD-CAD on the back of that. The pair remain under pressure under this 1.2800 level, so we would expect some decent support if we run down near 1.2710/00 area, but a long trade is more likely as the session moves on.
Tuesday, 10 March 2009
Stock Market Update - Tues 10Mar09
LONDON
The FTSE 100 closed up 172.83 points at 3,715.23 today, whilst with the FTSE 250 closed up 185.01 points at 5,954.8, and for those that are interested even the FTSE Small Caps closed up 25.98 points at 1,647.25.
The bigger Blue Chips ended the day higher, with a fairly strong rally from the financial sector, with banks and insurers adding to the FTSE's rise today. Even the end of the day saw the positive advance staying, as Wall Street opened up with a positive flurry too.
NEW YORK
Over the pond, some upbeat news from Citigroup helped Wall Street have a very good start, seeing the US Indicies storm ahead in early trading after Citigroup said it was profitable during the first 2 months of this year. Some hope for the US banks, then? Or are they just false hopes, relying on the bail-out to make all the figures look good, and with all the debts in one 'dodgy' bank we may be a little cynical. Still, it was a positive start, and a welcome one at that.
By the time London closed the DJIA was up some 317 points at 6,864.13, whilst the S&P500 was up 37 points at 714, and the Nasdaq was up 77 points at 1,345.
We can only wait and see if New York keeps it up.
The FTSE 100 closed up 172.83 points at 3,715.23 today, whilst with the FTSE 250 closed up 185.01 points at 5,954.8, and for those that are interested even the FTSE Small Caps closed up 25.98 points at 1,647.25.
The bigger Blue Chips ended the day higher, with a fairly strong rally from the financial sector, with banks and insurers adding to the FTSE's rise today. Even the end of the day saw the positive advance staying, as Wall Street opened up with a positive flurry too.
NEW YORK
Over the pond, some upbeat news from Citigroup helped Wall Street have a very good start, seeing the US Indicies storm ahead in early trading after Citigroup said it was profitable during the first 2 months of this year. Some hope for the US banks, then? Or are they just false hopes, relying on the bail-out to make all the figures look good, and with all the debts in one 'dodgy' bank we may be a little cynical. Still, it was a positive start, and a welcome one at that.
By the time London closed the DJIA was up some 317 points at 6,864.13, whilst the S&P500 was up 37 points at 714, and the Nasdaq was up 77 points at 1,345.
We can only wait and see if New York keeps it up.
Live Room Roundup - Tues 10Mar09
Live Room Roundup - 10th March 2009
London Session
- No Live Room trade calls today.
- 2 Intra-day trade calls; 1 win and 1 trade still open.
- Yesterday’s USD/JPY trade was closed today with good profit.
Intra-day trades
USD/JPY - Short trade closed (+45 pips)
Opened Short: USD/JPY @ 98.79
Stop level: 99.30
Target level: 97.70
Closed: 98.34 (+45 pips)
USD/CAD - Short trade closed (+17 pips, ave.)
Opened Short: USD/CAD @ 1.2900
Stop level: 1.2955
Target level: 1.2770
Closed: 1.2900 (1/2: +35, 1/2: +0)
USD/CHF - Short trade opened
Open Short: USD/CHF @ 1.1493
Stop level: 1.1540
Target level: 1.1360
London Session
- No Live Room trade calls today.
- 2 Intra-day trade calls; 1 win and 1 trade still open.
- Yesterday’s USD/JPY trade was closed today with good profit.
Intra-day trades
USD/JPY - Short trade closed (+45 pips)
Opened Short: USD/JPY @ 98.79
Stop level: 99.30
Target level: 97.70
Closed: 98.34 (+45 pips)
USD/CAD - Short trade closed (+17 pips, ave.)
Opened Short: USD/CAD @ 1.2900
Stop level: 1.2955
Target level: 1.2770
Closed: 1.2900 (1/2: +35, 1/2: +0)
USD/CHF - Short trade opened
Open Short: USD/CHF @ 1.1493
Stop level: 1.1540
Target level: 1.1360
Forex Market Update - London - Tues 10Mar09
London Session
Risk was popular again, with some news that a major US city bank will be reporting profits for the Q1 of this year. The UK banks were up, as was the rest of Europe's Bourses financials, with the average markets up 1.8% by lunchtime. US futures are also showing a similar figure ahread of Wall Street kicking off.
The shiny heavy stuff didn't fair as well, as Gold was down some 8-bucks to around the US$914 oz figure. A support figure of around the US$900 is expected to hold the price north of that, but we shall see. If we break the 900 dollar level then see some buying come back in not far below, we would think.
The green back did well this morning, despite risk returning to the table. Some fairly acceptable Euro Zone data helped the USD. The highlights out of the Euro Zone were the German trade balance, which rose a weaker than expected €8.5 bln from €7.3 bln, and French industrial production, which collapsed -3.1% in January to a new record low of -13.8% annual rate. Not good.
EUR-USD fell about -25 pips during the London session, and was sitting near the 1.2680/90 level as we approach the New York session kick off.
News out of the UK wasn't much better, though, as industrial production fell some -2.6% in January to an annual rate of -11.4%, which is the worst figure since 1980. Then to just make every feel that bit worse, news of home sales falling to their lowest level since 1978 put a further damper on things. Lucky for the stock markets that the financial sector did well on the back of the US bank news.
Cable managed to hang on to overnight gains against the USD despite this poor data this morning. GBP-USD was fairly unchanged during the session around the 1.3820/30 level. The pair seems to be forming a pennant, for thos etechnical guys watching for a breakout, and if we do see a break South below 1.3780/70 then we could see a further weaker Pound. But if STG can hold, then a break back North above the 1.3900 again could see some short-term strength return, at least.
Happy Trading.
Risk was popular again, with some news that a major US city bank will be reporting profits for the Q1 of this year. The UK banks were up, as was the rest of Europe's Bourses financials, with the average markets up 1.8% by lunchtime. US futures are also showing a similar figure ahread of Wall Street kicking off.
The shiny heavy stuff didn't fair as well, as Gold was down some 8-bucks to around the US$914 oz figure. A support figure of around the US$900 is expected to hold the price north of that, but we shall see. If we break the 900 dollar level then see some buying come back in not far below, we would think.
The green back did well this morning, despite risk returning to the table. Some fairly acceptable Euro Zone data helped the USD. The highlights out of the Euro Zone were the German trade balance, which rose a weaker than expected €8.5 bln from €7.3 bln, and French industrial production, which collapsed -3.1% in January to a new record low of -13.8% annual rate. Not good.
EUR-USD fell about -25 pips during the London session, and was sitting near the 1.2680/90 level as we approach the New York session kick off.
News out of the UK wasn't much better, though, as industrial production fell some -2.6% in January to an annual rate of -11.4%, which is the worst figure since 1980. Then to just make every feel that bit worse, news of home sales falling to their lowest level since 1978 put a further damper on things. Lucky for the stock markets that the financial sector did well on the back of the US bank news.
Cable managed to hang on to overnight gains against the USD despite this poor data this morning. GBP-USD was fairly unchanged during the session around the 1.3820/30 level. The pair seems to be forming a pennant, for thos etechnical guys watching for a breakout, and if we do see a break South below 1.3780/70 then we could see a further weaker Pound. But if STG can hold, then a break back North above the 1.3900 again could see some short-term strength return, at least.
Happy Trading.
Monday, 9 March 2009
Stock Market Roundup - Mon09Mar09
The FTSE 100 closed up 11.67 points today at 3,542.40 today.
The miners did well today, as did the oil stocks as the price of the black stuff was nearing US$50 bbl again. The banks were in focus again after the Government took a 65% shares in Lloyds. Lloyds Banking Group retraced earlier heavy losses as investors were chewing over the government's increasing of its stake in the bank for underwriting £260bn of its 'toxic assets'.
The miners did well today, as did the oil stocks as the price of the black stuff was nearing US$50 bbl again. The banks were in focus again after the Government took a 65% shares in Lloyds. Lloyds Banking Group retraced earlier heavy losses as investors were chewing over the government's increasing of its stake in the bank for underwriting £260bn of its 'toxic assets'.
Forex Live Room Roundup - Mon 09Mar09
Live Room Roundup - 9th March 2009
London Session
- 1 Live Room trade calls today; 1 win.
- 3 Intra-day trade calls; 2 small wins and 1 trade still open.
It was a fairly quiet start to the trading week in the Live Room this morning, but a decent Cable trade saw two tranches of profits taken, the first at +26 pips, and the 2nd at +80 pips. One or two other trades were taken by members of the room, with the usual suspects full of voice.
The USD-CAD kept threatening to break the 1.2912 level, and the USD-JPY kept channelling in our thick lined bear zone, finally breaking above. We are still bearish there, though, which was confirmed after the room closed.
Within an hour or so of the room closing two of the trade set ups we had summarised did come to play, with the AUD-USD setting up nice for a short, and the EUR-USD short also taken well. Trade details below.
GBP/USD- Long Call
- Live Room Call: Entry on the break of 1.4030
- Trade: Break of support level
- 1st Level: 1.4004, +26 pips
- 2nd Level: 1.3950, +80 pips (Average close +53 pips)
- Stop: 1.4055
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
AUD/USD - Short trade closed (+15 pips, ave.)
Opened Short: AUD/USD @ 0.6350
Stop level: 0.6390
Target level: 0.6250
Closed: 0.6350 (1/2: +30, 1/2: +0)
EUR/USD - Short trade closed (+16 pips, ave.)
Opened Short: EUR/USD @ 1.2595
Stop level: 1.2650
Target level: 1.2480
Closed: 1.2595 (1/2: +32, 1/2: +0)
Pair made of low of 1.2552
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 98.79
Stop level: 99.30
Target level: 97.70
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London Session
- 1 Live Room trade calls today; 1 win.
- 3 Intra-day trade calls; 2 small wins and 1 trade still open.
It was a fairly quiet start to the trading week in the Live Room this morning, but a decent Cable trade saw two tranches of profits taken, the first at +26 pips, and the 2nd at +80 pips. One or two other trades were taken by members of the room, with the usual suspects full of voice.
The USD-CAD kept threatening to break the 1.2912 level, and the USD-JPY kept channelling in our thick lined bear zone, finally breaking above. We are still bearish there, though, which was confirmed after the room closed.
Within an hour or so of the room closing two of the trade set ups we had summarised did come to play, with the AUD-USD setting up nice for a short, and the EUR-USD short also taken well. Trade details below.
GBP/USD- Long Call
- Live Room Call: Entry on the break of 1.4030
- Trade: Break of support level
- 1st Level: 1.4004, +26 pips
- 2nd Level: 1.3950, +80 pips (Average close +53 pips)
- Stop: 1.4055
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
AUD/USD - Short trade closed (+15 pips, ave.)
Opened Short: AUD/USD @ 0.6350
Stop level: 0.6390
Target level: 0.6250
Closed: 0.6350 (1/2: +30, 1/2: +0)
EUR/USD - Short trade closed (+16 pips, ave.)
Opened Short: EUR/USD @ 1.2595
Stop level: 1.2650
Target level: 1.2480
Closed: 1.2595 (1/2: +32, 1/2: +0)
Pair made of low of 1.2552
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 98.79
Stop level: 99.30
Target level: 97.70
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Friday, 6 March 2009
Forex Live Room Roundup - Friday 06Mar09
Forex Live Room Roundup - Friday 06Mar09
Just two calls so far today, with both being winners.
London Session
- 2 Live Room trade calls today; 2 wins.
- No Intra-day trade calls.
EUR/USD- Long Call
- Live Room Call: Entry on the break of 1.2670
- Trade: Break of resistance level
- 1st Level: 1.2695, +25 pips
- 2nd Level: 1.2712, +42 pips (Average close +34 pips)
- Stop: 1.2645
- (Allow few pips for slippage on entry/exit levels)
GBP/USD- Long Call
- Live Room Call: Entry on the break of 1.4232
- Trade: Break of resistance level
- 1st Level: 1.4205, +27 pips
- 2nd Level: 1.4237, -5 pips (Average close +11 pips)
- Stop: 1.4257
- (Allow few pips for slippage on entry/exit levels)
Both trades were half closed during the Live Room session to bank some profit.
Just two calls so far today, with both being winners.
London Session
- 2 Live Room trade calls today; 2 wins.
- No Intra-day trade calls.
EUR/USD- Long Call
- Live Room Call: Entry on the break of 1.2670
- Trade: Break of resistance level
- 1st Level: 1.2695, +25 pips
- 2nd Level: 1.2712, +42 pips (Average close +34 pips)
- Stop: 1.2645
- (Allow few pips for slippage on entry/exit levels)
GBP/USD- Long Call
- Live Room Call: Entry on the break of 1.4232
- Trade: Break of resistance level
- 1st Level: 1.4205, +27 pips
- 2nd Level: 1.4237, -5 pips (Average close +11 pips)
- Stop: 1.4257
- (Allow few pips for slippage on entry/exit levels)
Both trades were half closed during the Live Room session to bank some profit.
Stock Market Update - Fri 06Mar09
Market Update - Flat in London
LONDON
The FTSE 100 closed up under one point today at 3,530.73, whilst the FTSE250 closed down nearly 104 points at 5,831.55, and for those that are interested the FTSE Small Caps closed down just over 20 points at 1,643.53. Not a good day, but not as bad as could have been. The mining sector actually made up for the financial sector today, with further falling of the banks weighing on the FTSE. Poor non-farm fiogures from the US didn't help sentiment.
NEW YORK
By the time London closed, the DJI was down some 25 points at 6,570, whilst the S&P500 was down nealry 5 points at 678, and the Nasdaq down over 18 points at 1,281. The initial rise on Wall Street soon turned down as the non-farm payroll figures for February showed some 651k jobs were lost during the month, meaning an unemployment rate of 8.1% in the States, a new 25-year high.
Back here in London, reports that Lloyds Banking Group is close to finalising a deal with the government for a £250bn 'asset insurance scheme' helped the bank, although the shares only rose 1.7p to 42p. The agreement would mean the UK taxpayers would own over half the bank. Other banks didn't fair as well, with Barclays down 0.7p at 64.8p, RBS down 1p to 19.8p, and HSBC down just shy of 17p at 360.75p.
Staying with financials, the insurance companies also had it hard, mainly due to Avivba's results yesterday. Aviva closed down another 26.6p to 163.3p, whilst The Pru closed down nealry 12p at 209.25p, Legal & General down 1.8p to 24.8p and RSA down 1.1p at 126.9p. Only Admiral did better, closing up 10.5p at 850p.
The miners helped the FTSE, with hopes that China will soon be back asking for more raw materials. ENRC closed up 24.25p at 376.25p, Anglo American up 35.5p at 1,011p, BHP Billiton up 49p at 1,156p and Rio Tinto closed up 92p at 1,825p.
On to the black stuff, where the oil majors also did well on the back of the US$43 bbl price of crude, seeing BP close up 1p at 414p, RD Shell up 54p at 1,440p, and BG Group up 19p at 952p.
LONDON
The FTSE 100 closed up under one point today at 3,530.73, whilst the FTSE250 closed down nearly 104 points at 5,831.55, and for those that are interested the FTSE Small Caps closed down just over 20 points at 1,643.53. Not a good day, but not as bad as could have been. The mining sector actually made up for the financial sector today, with further falling of the banks weighing on the FTSE. Poor non-farm fiogures from the US didn't help sentiment.
NEW YORK
By the time London closed, the DJI was down some 25 points at 6,570, whilst the S&P500 was down nealry 5 points at 678, and the Nasdaq down over 18 points at 1,281. The initial rise on Wall Street soon turned down as the non-farm payroll figures for February showed some 651k jobs were lost during the month, meaning an unemployment rate of 8.1% in the States, a new 25-year high.
Back here in London, reports that Lloyds Banking Group is close to finalising a deal with the government for a £250bn 'asset insurance scheme' helped the bank, although the shares only rose 1.7p to 42p. The agreement would mean the UK taxpayers would own over half the bank. Other banks didn't fair as well, with Barclays down 0.7p at 64.8p, RBS down 1p to 19.8p, and HSBC down just shy of 17p at 360.75p.
Staying with financials, the insurance companies also had it hard, mainly due to Avivba's results yesterday. Aviva closed down another 26.6p to 163.3p, whilst The Pru closed down nealry 12p at 209.25p, Legal & General down 1.8p to 24.8p and RSA down 1.1p at 126.9p. Only Admiral did better, closing up 10.5p at 850p.
The miners helped the FTSE, with hopes that China will soon be back asking for more raw materials. ENRC closed up 24.25p at 376.25p, Anglo American up 35.5p at 1,011p, BHP Billiton up 49p at 1,156p and Rio Tinto closed up 92p at 1,825p.
On to the black stuff, where the oil majors also did well on the back of the US$43 bbl price of crude, seeing BP close up 1p at 414p, RD Shell up 54p at 1,440p, and BG Group up 19p at 952p.
Thursday, 5 March 2009
Forex Live Room - Trade Update - Thurs 05Mar09
FXLR - Trade Update
London Session
- 1 Live Room trade call today; 1 win.
- 2 Intra-day trade calls; 2 wins.
- Closed yesterday’s USD/JPY trade for a profit.
USD/CAD- Long Call
- Live Room Call: Entry on the break of 1.2786
- Trade: Break of resistance level
- 1st Level: 1.2804, +18 pips
- 2nd Level: 1.2813, +27 pips (Average close +23 pips)
- Stop: 1.2760
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (+100 pips)
Opened Short: GBP/USD @ 1.4185
Stop level: 1.4245
Target level: 1.3960
Closed: 1.4085 (+100 pips)
AUD/USD - Short trade closed (+30 pips)
Opened Short: AUD/USD @ 0.6400
Stop level: 0.6455
Target level: 0.6290
Closed: 0.6370 (+30 pips)
USD/JPY - Short trade closed (+55 pips)
Opened Short: USD/JPY @ 99.30
Stop level: 99.70
Target level: 98.10
Closed: 98.75 (+55 pips)
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London Session
- 1 Live Room trade call today; 1 win.
- 2 Intra-day trade calls; 2 wins.
- Closed yesterday’s USD/JPY trade for a profit.
USD/CAD- Long Call
- Live Room Call: Entry on the break of 1.2786
- Trade: Break of resistance level
- 1st Level: 1.2804, +18 pips
- 2nd Level: 1.2813, +27 pips (Average close +23 pips)
- Stop: 1.2760
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
GBP/USD - Short trade closed (+100 pips)
Opened Short: GBP/USD @ 1.4185
Stop level: 1.4245
Target level: 1.3960
Closed: 1.4085 (+100 pips)
AUD/USD - Short trade closed (+30 pips)
Opened Short: AUD/USD @ 0.6400
Stop level: 0.6455
Target level: 0.6290
Closed: 0.6370 (+30 pips)
USD/JPY - Short trade closed (+55 pips)
Opened Short: USD/JPY @ 99.30
Stop level: 99.70
Target level: 98.10
Closed: 98.75 (+55 pips)
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Stock Market Update - Thurs 05Mar09
Stock Market Update - Thurs 05Mar09
London
It wasn't a good day in London. Despite a 0.5% cut in interest rates, the major shares closed the session sharply lower, with the financials taking yet another hit. The insurers lead the way south after heavy losses were reported today by Norwich Union owner, Aviva, and with Wall Street having a bad start after poor productivity data coming from the US.
The FTSE 100 closed down 116 points at just shy of 3,530, whilst the FTSE 250 closed down over 148 points at 5,935.37, and for those that are interested the FTSE Small Caps closed down nearly 7 points at 1,664.05.
NEW YORK
Across the pond, Wall Street disn't do too well early doors, either. US share prices plunged in morning deals, with big concerns on Genral Motors, the massive vehicle manufactrer, which is needing a big handout.
By the time London closed, the DJIA was down nearly 220 points at 6,656, whilst the S&P500 was down 26 points at 686.50, and the Nasdaq down some 42 points at 1,311.
Back here in London, the Bank of England Monetary Policy Committee elected to cut UK interest rates by another 0.5% to a new historical low of 0.5%. The move had been widely anticipated. This was expected, though, with no surprises when it was announced.
Insurance giant Aviva had a really bad day, down 95.1p (33%) at just under 190p after news of an £885m loss for last year. Aviva said it had a solvency surplus of £2bln as at 31 December 2008, adding that it would maintain its dividend at 33p per share. But that didn't help investors' confidence, unfortunately. Peers faired poorly too, with Admiral closing down 65p at 839.5p, The Pru down 55.25p at 221p, and Legal & General down 10.8p at 26.6p.
The banks reacted badly again as well. Lloyds Banking Group closed down 7.4p at 40.3p, whilst Barclays closed down another 20.8p (24%) to 65.5p, RBS down 1.9p at 20.8p, and HSBC closed down 23.5p to 377.5p.
Parachute, anyone?
London
It wasn't a good day in London. Despite a 0.5% cut in interest rates, the major shares closed the session sharply lower, with the financials taking yet another hit. The insurers lead the way south after heavy losses were reported today by Norwich Union owner, Aviva, and with Wall Street having a bad start after poor productivity data coming from the US.
The FTSE 100 closed down 116 points at just shy of 3,530, whilst the FTSE 250 closed down over 148 points at 5,935.37, and for those that are interested the FTSE Small Caps closed down nearly 7 points at 1,664.05.
NEW YORK
Across the pond, Wall Street disn't do too well early doors, either. US share prices plunged in morning deals, with big concerns on Genral Motors, the massive vehicle manufactrer, which is needing a big handout.
By the time London closed, the DJIA was down nearly 220 points at 6,656, whilst the S&P500 was down 26 points at 686.50, and the Nasdaq down some 42 points at 1,311.
Back here in London, the Bank of England Monetary Policy Committee elected to cut UK interest rates by another 0.5% to a new historical low of 0.5%. The move had been widely anticipated. This was expected, though, with no surprises when it was announced.
Insurance giant Aviva had a really bad day, down 95.1p (33%) at just under 190p after news of an £885m loss for last year. Aviva said it had a solvency surplus of £2bln as at 31 December 2008, adding that it would maintain its dividend at 33p per share. But that didn't help investors' confidence, unfortunately. Peers faired poorly too, with Admiral closing down 65p at 839.5p, The Pru down 55.25p at 221p, and Legal & General down 10.8p at 26.6p.
The banks reacted badly again as well. Lloyds Banking Group closed down 7.4p at 40.3p, whilst Barclays closed down another 20.8p (24%) to 65.5p, RBS down 1.9p at 20.8p, and HSBC closed down 23.5p to 377.5p.
Parachute, anyone?
Forex Market Update - London - Thurs 05Mar09
Forex Market Update - London Session - Thurs 05Mar09
More bad economic news from the US saw overnight risk aversion carry on this morning in London. We expected a stronger US dollar. The European markets had a poor start today, and were down about -2.5% across the board, with US futures showing a pull back of about 1.5% as we type.
Data in the Euro Zone was not good. German retail sales fell -0.6% in January, whilst the market was actually looking for a small increase. This took the annual rate to a very dismal -1.3%, down from +0.4%, and tells us that all is not well in the usually strong Germany, Europe's biggest economy. The news from across the channel was that French unemployment had jumped to 8.2% in Q4, higher than the previous 7.6%, which was also much worse than forecast. Just incase some more bad news was needed, the Q4 Euro Zone GDP report showed a huge downward revision to household consumption to -0.9%, down from a previously reported -0.2%, and down from +0.1% in Q3.
The Forex pairs reacted accordingly.
EUR/USD fell -60 pips to the 1.2550 zone. With the ECB interest rate decision coming in a while and the Trichet press conference following should see some price action.
Things were no better here in the UK, where home prices plunged a steeper than expected -2.3% in the month of February, which takes the 3-month rate to a poor 17.7% fall.
The BOE also slashed rates by the expected -50 basis points to a new record low 0.50%. It wasn't a surprise, but it was a little odd that this 0.5% still came despite the accompanying aggressive quantitative easing measures. The bank will buy corporate bonds, medium and long-term government paper in an attempt to support the credit markets. In our opinion it looks like yet another panic move more than anything else, and the Pound Sterling got duly hit as a reactionary result.
GBP/USD fell more than -125 pips during the session, and was sitting near 1.4050 ahead of NY. Cable's hourly trendline by 1.4010 looks like the next crucial support area and below likely revisits this week's lows by 1.3950 next.
Happy Trading
More bad economic news from the US saw overnight risk aversion carry on this morning in London. We expected a stronger US dollar. The European markets had a poor start today, and were down about -2.5% across the board, with US futures showing a pull back of about 1.5% as we type.
Data in the Euro Zone was not good. German retail sales fell -0.6% in January, whilst the market was actually looking for a small increase. This took the annual rate to a very dismal -1.3%, down from +0.4%, and tells us that all is not well in the usually strong Germany, Europe's biggest economy. The news from across the channel was that French unemployment had jumped to 8.2% in Q4, higher than the previous 7.6%, which was also much worse than forecast. Just incase some more bad news was needed, the Q4 Euro Zone GDP report showed a huge downward revision to household consumption to -0.9%, down from a previously reported -0.2%, and down from +0.1% in Q3.
The Forex pairs reacted accordingly.
EUR/USD fell -60 pips to the 1.2550 zone. With the ECB interest rate decision coming in a while and the Trichet press conference following should see some price action.
Things were no better here in the UK, where home prices plunged a steeper than expected -2.3% in the month of February, which takes the 3-month rate to a poor 17.7% fall.
The BOE also slashed rates by the expected -50 basis points to a new record low 0.50%. It wasn't a surprise, but it was a little odd that this 0.5% still came despite the accompanying aggressive quantitative easing measures. The bank will buy corporate bonds, medium and long-term government paper in an attempt to support the credit markets. In our opinion it looks like yet another panic move more than anything else, and the Pound Sterling got duly hit as a reactionary result.
GBP/USD fell more than -125 pips during the session, and was sitting near 1.4050 ahead of NY. Cable's hourly trendline by 1.4010 looks like the next crucial support area and below likely revisits this week's lows by 1.3950 next.
Happy Trading
Wednesday, 4 March 2009
USD-JPY Trade Update - Wed 04Mar09
Trade Alert: USD/JPY update
USD/JPY trade update
Opened Short: USD/JPY @ 99.30
Stop level: 99.70
Target level: 98.10
USD/JPY is current 20 pips in profit. At this stage I will be leaving it running over night. You can take profits or keep it going, with the same stop.
USD/JPY trade update
Opened Short: USD/JPY @ 99.30
Stop level: 99.70
Target level: 98.10
USD/JPY is current 20 pips in profit. At this stage I will be leaving it running over night. You can take profits or keep it going, with the same stop.
Forex Live Room Trade Update - Wed 04Mar09
FXLR - Live Room Update - Wed 04Mar09
London Session
Another weird morning in the Live Room! A slow start soon picked up before vbecoming almost stagnant, with the markets falling asleep after the flurry of activity we saw earlier on.
Two trades were called in the Live Room, one Room trade and one intra-day trade, with the GBP-JPY trade breaking the 138.75 key level but only initially advancing +10 pips or so before falling back to break even and just under the level. Its bearish appearance fooled us all at that moment as we decided to close the trade, with most in the room folowing. However, no sooner as it closed than it ran up some +100 pips on-side. What a shame we jumped the gun by 3 or 4 seconds as it was a good trade after an initial good call.
The other trade was called an intra-day trade, which was the USD-CAD trade that eventually got us just +20 pips for half of the trade before pulling back to break even stop, then going onside again.
Two other intra-day trades have been called since the Licve Room closed, with the Swissie recently being closed at +50 pips and the JPY still running.
The Pound has channelled all week, within a 170 pip range. The €uro some 200 pip range, and the Swissie 170 pip range.
Summary - London Session
- 1 Live Room trade call today; closed at breakeven.
- 3 Intra-day trade calls today; 1 win, 1 closed at breakeven in the room, 1 still open.
GBP/JPY- Long Call
- Live Room Call: Entry on the break of 138.75
- Trade: Break of resistance level
- 1st Level: 138.75, +0 pips
- Stop: 138.50
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CAD - Short trade closed (+0 pips)
Open Short: USD/CAD @ 1.2925
Stop level: 1.2985
Target level: 1.2825
Closed: 1.2925 (+0 pips)
USD/CHF - Short trade closed (+50 pips)
Open Short: USD/CHF @ 1.1779
Stop level: 1.1845
Target level: 1.1685
Closed: 1.1729 (+50 pips)
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 99.30
Stop level: 99.70
Target level: 98.10
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London Session
Another weird morning in the Live Room! A slow start soon picked up before vbecoming almost stagnant, with the markets falling asleep after the flurry of activity we saw earlier on.
Two trades were called in the Live Room, one Room trade and one intra-day trade, with the GBP-JPY trade breaking the 138.75 key level but only initially advancing +10 pips or so before falling back to break even and just under the level. Its bearish appearance fooled us all at that moment as we decided to close the trade, with most in the room folowing. However, no sooner as it closed than it ran up some +100 pips on-side. What a shame we jumped the gun by 3 or 4 seconds as it was a good trade after an initial good call.
The other trade was called an intra-day trade, which was the USD-CAD trade that eventually got us just +20 pips for half of the trade before pulling back to break even stop, then going onside again.
Two other intra-day trades have been called since the Licve Room closed, with the Swissie recently being closed at +50 pips and the JPY still running.
The Pound has channelled all week, within a 170 pip range. The €uro some 200 pip range, and the Swissie 170 pip range.
Summary - London Session
- 1 Live Room trade call today; closed at breakeven.
- 3 Intra-day trade calls today; 1 win, 1 closed at breakeven in the room, 1 still open.
GBP/JPY- Long Call
- Live Room Call: Entry on the break of 138.75
- Trade: Break of resistance level
- 1st Level: 138.75, +0 pips
- Stop: 138.50
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CAD - Short trade closed (+0 pips)
Open Short: USD/CAD @ 1.2925
Stop level: 1.2985
Target level: 1.2825
Closed: 1.2925 (+0 pips)
USD/CHF - Short trade closed (+50 pips)
Open Short: USD/CHF @ 1.1779
Stop level: 1.1845
Target level: 1.1685
Closed: 1.1729 (+50 pips)
USD/JPY - Short trade opened
Opened Short: USD/JPY @ 99.30
Stop level: 99.70
Target level: 98.10
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Stock Market Update - Wed 04Mar09
Stock Market Update
London had a good day today, with some bargain hunters surfacing from the off. The mining sector had a good day, together with the recently decimated banking sector.
The FTSE 100 closed up 133.78 points at 3,645.87 today, whilst the FTSE 250 closed up 232.78 points at 6,083.51, and for those that are interested the FTSE Small Caps closed up 24.12 points at 1,670.68.
Over the pond, Wall Street was also up, with many feeling there were some bargains around. By the time London closed, the DJI was up about 150 points at 6,876, whilst the S&P500 was up 17 points at 713, and the Nasdaq was up about 36 points at 1,358.
London had a good day today, with some bargain hunters surfacing from the off. The mining sector had a good day, together with the recently decimated banking sector.
The FTSE 100 closed up 133.78 points at 3,645.87 today, whilst the FTSE 250 closed up 232.78 points at 6,083.51, and for those that are interested the FTSE Small Caps closed up 24.12 points at 1,670.68.
Over the pond, Wall Street was also up, with many feeling there were some bargains around. By the time London closed, the DJI was up about 150 points at 6,876, whilst the S&P500 was up 17 points at 713, and the Nasdaq was up about 36 points at 1,358.
Forex Market Update - London Session - Wed 04Mar09
Forex Market Update - Wed 04Mar09
London Session
Some risk taking surfaced again this morning, with news from China that it is contemplating a new stimulus package, whcih helped stock markets rise this morning. The European markets are up nearly +2.0%, with the US futures showing a positive day for the first time in a week's trading.
Forex showed some fair risk taking. EUR/USD was up about 35 pips to near the 1.2540 ahead of the New York open.
The Yen crosses also saw a bit of price action, too. USD/JPY was up about 45 pips to 99.30, whilst EUR/JPY was up nearly 100 pips to the 124.50 zone.
GBP/USD was up about 50 pips to the 1.4100 level as the PMI services figure came in a little better than expected at 43.2, up from 42.5 the previous month.
Today over the pond withh see some more US economic data together with further testimony from Treasury Secretary Geithner. This should give any current US futures movement reason to slow down when Wall Street starts rolling. ADP employment is expected to fall -630K from -522K, which will be seen as a warning ahead of Friday's non-farm payroll figures. The ISM services index will be heard shortly after and the employment component, which will also give a clue to the NFP figures. Geithner will also testify on the budget again, this time before the Senate itself, with the subject of the trillion dollar deficits being present for the foreseeable future meaning the appetite should be anything but positive for risk.
London Session
Some risk taking surfaced again this morning, with news from China that it is contemplating a new stimulus package, whcih helped stock markets rise this morning. The European markets are up nearly +2.0%, with the US futures showing a positive day for the first time in a week's trading.
Forex showed some fair risk taking. EUR/USD was up about 35 pips to near the 1.2540 ahead of the New York open.
The Yen crosses also saw a bit of price action, too. USD/JPY was up about 45 pips to 99.30, whilst EUR/JPY was up nearly 100 pips to the 124.50 zone.
GBP/USD was up about 50 pips to the 1.4100 level as the PMI services figure came in a little better than expected at 43.2, up from 42.5 the previous month.
Today over the pond withh see some more US economic data together with further testimony from Treasury Secretary Geithner. This should give any current US futures movement reason to slow down when Wall Street starts rolling. ADP employment is expected to fall -630K from -522K, which will be seen as a warning ahead of Friday's non-farm payroll figures. The ISM services index will be heard shortly after and the employment component, which will also give a clue to the NFP figures. Geithner will also testify on the budget again, this time before the Senate itself, with the subject of the trillion dollar deficits being present for the foreseeable future meaning the appetite should be anything but positive for risk.
Tuesday, 3 March 2009
Stock Market Update - Tues 03Mar09
Stock Markets Down Again
The FTSE 100 closed down nearly 114 points today at 3,512.09, whilst the FSTE 250 closed down nearly 10 points at 5,850.73, and for those that are interested the FTSE Small Caps closed down over 19 points at 1,645.21.
The UK banks were taking a breather after the big falls yesterday, although Barclays fell nearly 6p to 81.8p. Lloyds Banking Group was down nearly 4p at 45.5p, and HSBC was down 4p at 395p, following a broker downgrade. The 25% fall yesterday didn't see any bounce today.
Over the pond, the early gains on Wall Street were short-lived, as a turn round followed Fed Reserve Chairman Ben Bernanke spoke to the Senate some more about US economic crisis.
By the time London closed the DJI was down about 17 points at 6,746, whilst the S&P500 was down 4 points at 697, and the Nasdaq was down about 3.5 points at 1,319.
The FTSE 100 closed down nearly 114 points today at 3,512.09, whilst the FSTE 250 closed down nearly 10 points at 5,850.73, and for those that are interested the FTSE Small Caps closed down over 19 points at 1,645.21.
The UK banks were taking a breather after the big falls yesterday, although Barclays fell nearly 6p to 81.8p. Lloyds Banking Group was down nearly 4p at 45.5p, and HSBC was down 4p at 395p, following a broker downgrade. The 25% fall yesterday didn't see any bounce today.
Over the pond, the early gains on Wall Street were short-lived, as a turn round followed Fed Reserve Chairman Ben Bernanke spoke to the Senate some more about US economic crisis.
By the time London closed the DJI was down about 17 points at 6,746, whilst the S&P500 was down 4 points at 697, and the Nasdaq was down about 3.5 points at 1,319.
Forex Live Room Update - Tues 03Mar09
London Session
- 1 Live Room trade call today; 1 win.
- 2 Intra-day trade calls; 1 win, 1 loss.
It was a ‘weird’ morning in the Live Room this morning, as one or two members pointed out. At one stage we had every pair rising at the same time!
Two early calls both went in to a profit before pulling back.
The USD-CAD short trade from the 1.2870 break was very early, but many got it, even a little late. The trade ran a nice 60 points down to 1.2809, where half profits were taken of +57, before pulling back through the break even entry point. One or two others scaled out on the way back up some more.
The USD-CHF short trade wasn’t as friendly, as after taking the 1.1701 level break we saw a +15 pip trade bounce off the 200 MA at 1.1686 and ran back up through the entry point, only to fall back down to the 200 MA for a repeat bounce. Not the best follow on, that one.
The USD-AUD short that we entered was not a level break, it was an up-trend break out. Taken at around 1.6433, the trade ran down some +40 pips before turning up again during the ‘weird’ hour, when nothing knew where to go.
All in all, it was not a usual session, but all three trades were positive, with profits taken where we could on two, with just the Swissie running off-side and stopping us out. With the levels not really coming in to play since, it hasn’t been a very active day trading. Strength has returned to the USD this afternoon, with risk averse returning to the forefront as the stock markets take a pounding once again. We haven’t seen the worst there.
We are hopeful of a decent session tomorrow. Be careful.
AUD/USD – Short Call
- Live Room Call: Entry on the break of 0.6432
- Trade: Break of support level
- 1st Level: 0.6412, +20
- Stop: 0.6460
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CHF - Short trade closed (-49 pips)
Open Short: USD/CHF @ 1.1701
Stop level: 1.1750
Target level: 1.1615
Closed: 1.1750 (-49 pips)
Note - there was half closing at break even by some room members, whilst some closed out.
USD/CAD - Short trade closed (+27 pips)
Open Short: USD/CAD @ 1.2870
Stop level: 1.2945
Target level: 1.2730
Closed: 1.2816 (+54 pips) and 1.2870 (+0 pips), Ave: (+27 pips)
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- 1 Live Room trade call today; 1 win.
- 2 Intra-day trade calls; 1 win, 1 loss.
It was a ‘weird’ morning in the Live Room this morning, as one or two members pointed out. At one stage we had every pair rising at the same time!
Two early calls both went in to a profit before pulling back.
The USD-CAD short trade from the 1.2870 break was very early, but many got it, even a little late. The trade ran a nice 60 points down to 1.2809, where half profits were taken of +57, before pulling back through the break even entry point. One or two others scaled out on the way back up some more.
The USD-CHF short trade wasn’t as friendly, as after taking the 1.1701 level break we saw a +15 pip trade bounce off the 200 MA at 1.1686 and ran back up through the entry point, only to fall back down to the 200 MA for a repeat bounce. Not the best follow on, that one.
The USD-AUD short that we entered was not a level break, it was an up-trend break out. Taken at around 1.6433, the trade ran down some +40 pips before turning up again during the ‘weird’ hour, when nothing knew where to go.
All in all, it was not a usual session, but all three trades were positive, with profits taken where we could on two, with just the Swissie running off-side and stopping us out. With the levels not really coming in to play since, it hasn’t been a very active day trading. Strength has returned to the USD this afternoon, with risk averse returning to the forefront as the stock markets take a pounding once again. We haven’t seen the worst there.
We are hopeful of a decent session tomorrow. Be careful.
AUD/USD – Short Call
- Live Room Call: Entry on the break of 0.6432
- Trade: Break of support level
- 1st Level: 0.6412, +20
- Stop: 0.6460
- (Allow few pips for slippage on entry/exit levels)
Intra-day trades
USD/CHF - Short trade closed (-49 pips)
Open Short: USD/CHF @ 1.1701
Stop level: 1.1750
Target level: 1.1615
Closed: 1.1750 (-49 pips)
Note - there was half closing at break even by some room members, whilst some closed out.
USD/CAD - Short trade closed (+27 pips)
Open Short: USD/CAD @ 1.2870
Stop level: 1.2945
Target level: 1.2730
Closed: 1.2816 (+54 pips) and 1.2870 (+0 pips), Ave: (+27 pips)
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Forex Market Update - London - Tues 03Mar09
Forex Market Update - London Session.
It was a 'weird' day today, as it was said in the Live Room. The European markets were down, but the US futures wwere slightly up this morning. The Forex Market was faiurly quiet, but there was movement.
EUR-USD pulled back some -50 pips from the overnight rise to sit near the 1.2600 support level. If we break this level then 1.255/40 is next, then the big 1.2500.
EUR-JPY fell back -40 pips towards the 123.40 level.
USD-JPY was actually up a little, playing around the 98.00 level this UK lunchtimne, as we approach the New York session kick off.
UK economy data was weak again, as expected. The PMI construction numbers failed to impress, coming in at 27.8, well short of the expected 34.2, and well down on the 34.5 from January.
GBP-USD was down around -90 pips, very near the 1.4020/30 area. Our bearish call and stance as we touched that 1.46 level again last week was proved right, with a 6 cent pull back since. 1.4000 may be a support worth looking at to see some buying come back in, with a possible long trade possibility.
The New York session approaches, with the Bank of Canada interest decision due, and a 0.5% cut in interest rates expected. US Fed Res chairman Ben Bernanke will be speaking today as well, together with the Fed's Lockhart, ECB President Trichet, and the Treasury Secretary Giethner all queueing up to say their pieces.
Happy Trading.
It was a 'weird' day today, as it was said in the Live Room. The European markets were down, but the US futures wwere slightly up this morning. The Forex Market was faiurly quiet, but there was movement.
EUR-USD pulled back some -50 pips from the overnight rise to sit near the 1.2600 support level. If we break this level then 1.255/40 is next, then the big 1.2500.
EUR-JPY fell back -40 pips towards the 123.40 level.
USD-JPY was actually up a little, playing around the 98.00 level this UK lunchtimne, as we approach the New York session kick off.
UK economy data was weak again, as expected. The PMI construction numbers failed to impress, coming in at 27.8, well short of the expected 34.2, and well down on the 34.5 from January.
GBP-USD was down around -90 pips, very near the 1.4020/30 area. Our bearish call and stance as we touched that 1.46 level again last week was proved right, with a 6 cent pull back since. 1.4000 may be a support worth looking at to see some buying come back in, with a possible long trade possibility.
The New York session approaches, with the Bank of Canada interest decision due, and a 0.5% cut in interest rates expected. US Fed Res chairman Ben Bernanke will be speaking today as well, together with the Fed's Lockhart, ECB President Trichet, and the Treasury Secretary Giethner all queueing up to say their pieces.
Happy Trading.
Monday, 2 March 2009
Stock Market Update - Mon 02Mar09
Stock Market Update
The FTSE closed at 3,625.83 today, down over 204 points, whilst the FTSE250 was down nearly 189 points at 5,860.46, and the FTSE Small Caps down over 44 points at 1,664.26. A poor day.
By the time London closed, over the pond there was more gloom, with the DJI down over 200 points at 6,860, under that massive 7k level, whilst the S&P500 was down over 23.46 points at 711, and the Nasdaq down 33 points at 1,344.
The FTSE closed at 3,625.83 today, down over 204 points, whilst the FTSE250 was down nearly 189 points at 5,860.46, and the FTSE Small Caps down over 44 points at 1,664.26. A poor day.
By the time London closed, over the pond there was more gloom, with the DJI down over 200 points at 6,860, under that massive 7k level, whilst the S&P500 was down over 23.46 points at 711, and the Nasdaq down 33 points at 1,344.
Forex Live Room Trades - London Session - Mon 02Mar09
Live Room Roundup - 2nd March 2009
London Session
- 2 Live Room trade calls today; 1 win, 1 loss.
- No Intra-day trade calls.
It was a very quiet morning this morning in the Live Room. There were two trades called, USD-CAD long, and GBP-USD short. The CAD was up about 30 pips but fell back, with the odd member taking a scalp or part close as it stalled, but then after pulling back it turned again and continued through our key level on side some +90 pips. The Cable trade was up about 23 pips, with the odd member scalping 15 pips before it fell back. It actually stopped us by one pip, and then promptly ran on side again twice, testing the same level again and again, before finally breaking our key level again and continuing on some +160 pips. We missed the GBP-JPY trade, as it broke the upwards trend. We were concentrating elsewhere, and decided it was too late to enter. So, despite a quiet morning, some were happy.
GBP/USD – Short Call
- Live Room Call: Entry on the break of 1.4198
- Trade: Break of support level
- 1st Level: 1.4225, -27 pips
- Stop: 1.4225
- (Allow few pips for slippage on entry/exit levels)
- Trade stopped by one pip. Trade subsequently ran ~+160 pips.
USD/CAD – Long Call
- Live Room Call: Entry on the break of 1.2802
- Trade: Break of resistance level
- 1st Level: 1.2825, +23 pips
- Stop: 1.2775
- (Allow few pips for slippage on entry/exit levels)
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London Session
- 2 Live Room trade calls today; 1 win, 1 loss.
- No Intra-day trade calls.
It was a very quiet morning this morning in the Live Room. There were two trades called, USD-CAD long, and GBP-USD short. The CAD was up about 30 pips but fell back, with the odd member taking a scalp or part close as it stalled, but then after pulling back it turned again and continued through our key level on side some +90 pips. The Cable trade was up about 23 pips, with the odd member scalping 15 pips before it fell back. It actually stopped us by one pip, and then promptly ran on side again twice, testing the same level again and again, before finally breaking our key level again and continuing on some +160 pips. We missed the GBP-JPY trade, as it broke the upwards trend. We were concentrating elsewhere, and decided it was too late to enter. So, despite a quiet morning, some were happy.
GBP/USD – Short Call
- Live Room Call: Entry on the break of 1.4198
- Trade: Break of support level
- 1st Level: 1.4225, -27 pips
- Stop: 1.4225
- (Allow few pips for slippage on entry/exit levels)
- Trade stopped by one pip. Trade subsequently ran ~+160 pips.
USD/CAD – Long Call
- Live Room Call: Entry on the break of 1.2802
- Trade: Break of resistance level
- 1st Level: 1.2825, +23 pips
- Stop: 1.2775
- (Allow few pips for slippage on entry/exit levels)
Come & Join the Pros. www.marketbytes.com
Forex Market Round Up - London - Mon 02Mar09
London Session
This morning saw risk averse return. Eventually. A slow start became faster by mid-morning. The European stock markets had a poor start, gapping down and staying there this morning. With the major indicies down some -3.5%, and US futures down at least -2.5%, it was grim. 3,000 has been mentioned for the FTSE, and 6,000 for the Dow. The dizzy heights of 14,000 on the DJIA only 18-20 months ago seem a far, far way away. News of yet another US$30 bln bail-out for the same US insurance company shows how bad things are. Even top guru Warren Buffet said that the US economy was in a 'shambles'. Forex movements reflected the feeling.
The €uro continued to get hit afetr news that there will be no bail-outs for Eastern Europe by the Western Europe leaders.
EUR/USD was down another -30 pips this morning and was finding support around the 1.2550 area. If we break that then 1.2500 will be the next level we should see. that would be a big support, with a break seeing a possible fall to the 1.2330 levels seen in October.
The Yen crosses were fairly mixed, with the EUR/JPY being fairly active, falling -30 pips into the 122.00/20 area. USD/JPY was almost unchanged from the 97.20/30 level at the session kick off, and was still seeing the 97.00 level as a heavy support. Cable, on the other hand, took a pounding, down some -170 points towards the 1.4080 area, and looks to continue the fall back as we approach the New York open.
This morning had economic data from the UK confirming the bleak picture with the manufacturing PMI, consumer credit, as well as mortgage approvals - all were worse than the poor levels already expected.
During the New York session we will see some important economic data. This includes the US personal income/spending and Canadian monthly GDP. Canada's GDP should give the USD-Cad pair some movement. Other big piece of data from over the pond will be the US ISM manufacturing figure. The market is looking for a 34.0 figure for February, after a 35.6 figure in January. If there is a weaker figure then we can expect a USD positive reaction as invetsors will look for the safe-haven again.
This morning saw risk averse return. Eventually. A slow start became faster by mid-morning. The European stock markets had a poor start, gapping down and staying there this morning. With the major indicies down some -3.5%, and US futures down at least -2.5%, it was grim. 3,000 has been mentioned for the FTSE, and 6,000 for the Dow. The dizzy heights of 14,000 on the DJIA only 18-20 months ago seem a far, far way away. News of yet another US$30 bln bail-out for the same US insurance company shows how bad things are. Even top guru Warren Buffet said that the US economy was in a 'shambles'. Forex movements reflected the feeling.
The €uro continued to get hit afetr news that there will be no bail-outs for Eastern Europe by the Western Europe leaders.
EUR/USD was down another -30 pips this morning and was finding support around the 1.2550 area. If we break that then 1.2500 will be the next level we should see. that would be a big support, with a break seeing a possible fall to the 1.2330 levels seen in October.
The Yen crosses were fairly mixed, with the EUR/JPY being fairly active, falling -30 pips into the 122.00/20 area. USD/JPY was almost unchanged from the 97.20/30 level at the session kick off, and was still seeing the 97.00 level as a heavy support. Cable, on the other hand, took a pounding, down some -170 points towards the 1.4080 area, and looks to continue the fall back as we approach the New York open.
This morning had economic data from the UK confirming the bleak picture with the manufacturing PMI, consumer credit, as well as mortgage approvals - all were worse than the poor levels already expected.
During the New York session we will see some important economic data. This includes the US personal income/spending and Canadian monthly GDP. Canada's GDP should give the USD-Cad pair some movement. Other big piece of data from over the pond will be the US ISM manufacturing figure. The market is looking for a 34.0 figure for February, after a 35.6 figure in January. If there is a weaker figure then we can expect a USD positive reaction as invetsors will look for the safe-haven again.
Sunday, 1 March 2009
Forex Live Room Performance - February 2009
Forex Live Room Performance - February 2009
Here at Market Bytes FXLR we offer subscribers a 3-hour session in the Live Room each morning, plus intra-day calls sent via SMS and e-mail after the room closes. We call our trades. You may wish to take them, or you may wish to not. But our performance is listed below. Each trade is documented.
Trading Performance: Feb 2009
Total trading profit for Feb 2009: +1519 pips
Live Room Trades: Total profit +315 pips
Intra-day Trades: Total profit +1204 pips
Come and join the Pros. We are a new team. We are real traders. We call our trades. We stand by our performance. 7-day free trial. www.marketbytes.com.
Here at Market Bytes FXLR we offer subscribers a 3-hour session in the Live Room each morning, plus intra-day calls sent via SMS and e-mail after the room closes. We call our trades. You may wish to take them, or you may wish to not. But our performance is listed below. Each trade is documented.
Trading Performance: Feb 2009
Total trading profit for Feb 2009: +1519 pips
Live Room Trades: Total profit +315 pips
Intra-day Trades: Total profit +1204 pips
Come and join the Pros. We are a new team. We are real traders. We call our trades. We stand by our performance. 7-day free trial. www.marketbytes.com.
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