AUTOREFRESH 
If you think today was bad, tomorrow’ll be worse
Liquidity will go from bad today to worse tomorrow. It looks as though much of the month-end requirements have been disposed of today, but in thin markets tomorrow, we could still see frantic volatility.
Technically, it looks as though risk markets are trying to take a turn for the better. AUD, EUR, EUR/JPY…all look like they have bottomed or are close to it.
Traders are struggling with whether to ignore the calendar and believe the charts or wait out the weekend and see where the dust settles early next week. That’s a very tough call, and each will have to make it on one’s own.
1.2416 and 1.2445 are next resistance levels for EUR/USD while 1.2340/45 i s support on dips.
113.20 is next resistance in the ballistic missile known as EUR/JPY. 91.03 is the 200-day Moving average in USD/JPY…
So will Asia sell off E/J today as well ??? lol
well it’s broken above some of that good resistance of the last week, so I doubt they will be as eager to sell
Oil is nearly back up to “normal” 75 USD. Perhaps we are in for a period of normality?
yep fluffy, funny how that oil pipeline got blown up right around the lows
DE +5.4%
Well after all Italian PM Silvio Berlusconi is quoted as saying that the “unified EU response has defeated speculative attack on the EUR.”
maybe he is still in shock after being beaten with a plaster cathedral model
Not sure if you caught this already http://www.shanghaidaily.com/article/?id=438400&type=Business
US money supply plunges at 1930s pace as Obama eyes fresh stimulus
The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.
http://www.telegraph.co.uk/finance/economics/7769126/US-money-supply-plunges-at-1930s-pace-as-Obama-eyes-fresh-stimulus.html
Plz can we have more comments and thoughts on the subject and what will be its implication on Eur and GBP
Was he in the buff then too, Bear?
Umar, I saw that article last night………Also I am going to repost that link, It isn’t working above, It’s a piece about review of Stimulus Loans in China, if it doesn’t link again you could go to Shanghai Daily and click their Business Part http://www.shanghaidaily.com/article/?id=438400&type=Business
naa thankfully not
Umar– The market has been transfixed by the notion that the US is printing dollars faster than the ink can dry on the bills…Now M3 is collapsing? I don’t know,,,just don’t know…
If the article is true, EUR/USD 1.45 is on the cards.
check under the mattress JC, thats where it will be
Do you think EURGBP is near the bottom?
Thanks Trading Nymph, but i do not understand what that means. Please explain in details the consequences of this in future months and years in your words…..
Jamie, If M3 get really bad wont that be helped by further QE and if so subsequently wont that effect in the decline of USD
Fluffy Fox this article is very true and is buzzing around in papers and blogs and forum. But no one talk about its resulting effect. May be most analyst will talk about it once its in the main stream media talking about it and so on.
Fed has not looked at M3 in years…Not sure they are going to start now…
Umar. If it is true (and relevant of course Jamie), it means the US needs either another cut in interest rates, or a very substantial extra tranche of QE to what they are using already to give the economy the boost it needs. Both actions will have similar effects.
re: forex broker. can anyone recommend a good forex broker to trade fx with? i’ve lost faith in my broker as their quotes system (and limit trades) have gone down twice this week, and the past few months have seen a series of questionable stops at the outside edge of ranges. as far as i’m concerned cliff barnes runs the joint. perhaps they should spend as much on their operations as they do on their tv marketing, but as long as they give me my money when i decide to cash in my chips i’m happy. but i’m done with them. please advise, thanks in advance. jrforex@hotmail.com
‘m a little biased, but FXDD seems to have a solid rep among the guys on the site who use them…I’m more than a little biased, actually…
What i don’t like about FXDD is that they don’t fill you at market when coming in on a weekend… for instant if you went long Fri afternoon at 1.25 with a tp at 1.26 and market opens at 1.27 – you get filled at 1.26. With Forex.com I get filled at opening bid – so 1.27. Maybe you know why FXDD doesn’t do this Jamie?
I don’t know about FXDD but generaly speaking I would say: Biased, Jamie ?! naaaa..loooool
i like the new pic Cheg
Do they do the same with your stop, Stephen?
I don’t know what pic appears now.. is it the bear, the wolf, the black swan or just the old cheg (all very dangerous creatures when angry) ? lol
Hard to say – they all look the same to me
damn all these efforts…
Meant to ask though – can I call you Beaky now?
FXDD fills you at the open when gapping negative, not your stop. Forex.com fills at theopen too, just like the limit. My guess is FXDD is secretly trying to make back lost money on their “fixed spread”.
Which one are you using JR? I have experienced the same thing this week
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