AUTOREFRESH 
Asian FX market open: USD looking slightly suspect
By Sean Lee || March 11, 2010 at 22:07 GMT
|| 27 comments || Add comment
The USD opens the final Asian session of the week on a softish note with most of the majors (apart from the JPY) at or close to intraday highs. Jamie makes an excellent point on the EUR/USD that the pair is hemmed in by option interest and I tend to agree with his theory. I still think we will move gradually higher, with 1.3550/1.3825 the initial parameters. I’m long both cable (since yesterday) and AUD/USD (since two weeks ago) and my initial targets there are 1.5285 and .9320 respectively.
News releases from China regarding interest rate policy provide the biggest event risk.
Good luck today and TGIF.
Have a dry weekend all 
Only 2 hours to go
where do you think the USD/JPY is headed for the short term?
Regarding the China interest rate/monetary policy news, is there a general time when those announcements are expected? I heard it was around 10-10:30 GMT.
Morning Alexander. In the past, major announcements have been made in early European trade although I cannot give you an exact time.
Hi Mystic. Sorry got no feel whatsoever for USD/JPY. In recent days it has gone 30 to 40 pips lower during Tokyo trade and then recovered in Ldn/NY.
hello Sean, lol waiting you, how are you today? i have short view on EUR/USD, selling from 3674 and target 3555 what you think on that?
How is the feeling now in Asian Markets about the possibility that BOC rises the rates?
In case of a rise of rates, where would you estimate to place sl on AUD/USD longs?
And on EUR/USD ?
Thanks for your evaluation…I really appreciate your knowledge of these pairs…
Sorry Simao, disagree, I don’t like short side in EUR/USD but that’s what makes a market- some bullish, some bearish. Best of luck with it.
I’m thinking long on the USD/YEN. Anyone else?
Hi Val, there has been a lot of speculation that the BOC moves today but I personally have no strong view on that. Tight stops in AUD/USD should be below .9100, Longer term strategic longs should seriously re-consider below 8935. EUR/USD I think is in a 13550/1.3825 short term bullish consolidation range and I think we should not have stop-losses on either longs or shorts inside of this range. Hope that makes sense?
I’m long the usd/yen at 90.580 , now i am debating adding a stop loss or not. Anyone think I should?
Yes for AUD, you already gave these numbers this week…for the EUR/USD I’m afraid I have a short position (sorry you don’t like short side in EUR/USD, and at the moment I don’t like it too much either IO must say, but it’s there, my point is that if China rises the rates maybe I can close a bit lower than actual level, if China don’t rises the rates then I could have a sl on 1.3825).
I agree with you that China probably will not move jet, but sometimes they like to be tricky…no?
Thanks a lot
“If in doubt, get out” an old trader used to tell me. I think being 100% committed to the trade is the most important thing, right or wrong.
of one was committed to the trade, why would they get out?
*if
That’s the trouble, Sean, some of us should be committed
hang on there while I loosen my strait jacket
well that was a nice spike
You made the point, Sean and Mystic. In this specific case, I have to clear to myself if I want to give priority to a reasonable stop loss value no more than 2% of my account or to risk a bit more because I feel that even if the EUR USD retraces the fall, later on it will fall again…many things could happen in some time capable of destroying my theory…so i’m really in doubt. Sounds human enough?
And no dribbling either.
eur/jpy’s lookin’ mighty bold doncha think?
yepo
absolutely no idea at all Lilac, I’ll leave that to you experts
I only stay up late cos you make me giggle
Guessing exporters’ 91 and 124.35/50 will coincide.
91.00/20 sell orders I hear, n stop giggling.
I wouldn’t agree with your view, Sean. Eurozone and UK crises are far from over. US growth prospects are many times better and a rate rise will come far sooner there. With AUD you’ve got a shout because the Aussie economy is tied in to China. But against eur and gbp I think the US dollar will soon resume its appreciation.
i think tonight there will be a slight dollar appreciation. this is where the market takes u out. n bring us on par or bck down on the e/u pair..imo anyways..shall see ~