Comments on: FX market open, week November 4th: Still looking to sell USD rallies

By: Sean Lee

Sean Lee — Mon, 04 Nov 2013 03:41:13 +0000

Unlikely that we will see any sustained moves with Japan and Singapore still closed imho. Any spikes will be short-lived

By: Abdullah Hussain

Abdullah Hussain — Mon, 04 Nov 2013 03:30:12 +0000

Well Sean I remember when you mentioned that last week about the Corp sellers, and thats what made me change my view on the short-term movemet on this pair, im trying very hard to learn to trade without my emotions, I remember you and fxww888 also had a Brief conv in the chatroom too about u/j last week and he too was leaning towards a higher number based on some big orders, so I decided to keep my trades light until there is a break upwards or down, but Sean, you think we might break higher today, as 98.8 has been holding up well, or well we go back and then proceed?

By: Sean Lee

Sean Lee — Mon, 04 Nov 2013 03:18:18 +0000

Thanks Abdullah, yep very tricky to trade. Big Japanese corp sellers reported near 100.00 now so also need to keep that in mind.

By: Abdullah Hussain

Abdullah Hussain — Mon, 04 Nov 2013 03:15:15 +0000

Morning Sean, well theres alot of talk about Usd/jpy going higher, But i’m still not a believer plus the pair isnt really giving any clues as you said, But I am prepared to breach 99 and test 99.6, of course once we breach 99 the market will try and push it to100.5, but i believe 100 will be a difficult resistance point as it has proved throughout the year, but as I said, if anything, I believe that (or am hoping) that we will go back south, even if we go higher First. As for the current resistances, in trying to figure out the importances of some of the resistances it is interesting to note that in examining 2008/09 and in 1994/95 we faced similar support/resistances, although those were different economic times (way different) and each had its own economic/data reasoning, yet on a technical level they are interesting to compare and contrast.

By: rhona

rhona — Sun, 03 Nov 2013 23:50:33 +0000

Sean do u think NZD/$ could find it’s way down to 0.8100 as cable goes to 1.5750?

By: Sean Lee

Sean Lee — Sun, 03 Nov 2013 22:23:45 +0000

Most likely but not necessarily. I think that EUR/GBP falls towards 76/77 early next year. If it does, and cable goes to 1.70 like I expect, EUR/USD would be trading near 1.30. That would not surprise me in the least

By: Rhona

Rhona — Sun, 03 Nov 2013 22:09:50 +0000

Hi Sean 🙂 Goodm!

Well a cable bull would mean an Euro/$ bull… ’cause they go hand in hand…

So most likely a sell off of $/chf (always riding opposite the Eur$)
And so possibly a sell off $/JPY which rides mostly w/$/CHF against EUR/$

Right????

So “big bull move” in cable = sell off $/chf $/jpy …(most likely…)?