Morning all,

The weekend bail-out of Freddie and Fannie by the US government has spurred appetite for rsik and global economies have praised the bail-out for stabilising the market. However this may squeeze the USD as the govt has to borrow heavily.

USD lost in Asia open,and the volatilities seem pretty high. GBPUSD has been unable to break the 1.8000 level. Currently 1.7845,looking to short on retracements close to 1.7900. Oil and gold marginally up at 108.50 and 813,though I think they're temporary retracements.

Have a nice week ahead!

GL and GT.

Morning @all

Hope your weekend has been good.Looking also at the prevailing situation,following hurricane fears i took around EUR/USD long with around 25 pips and i got them.It was flactuating waiting for the hurricane and the england economic data.

To all guys i think you can see that fundamentals dont lie,they can only drive you this way or that but you can see their direction.Getting 25 pips in the morning thats not miracle its something you can see.Even if the movement goes against you can still play with a good figure at the end of the day.
They are now retracing back. You dont need to spend 7 hours on the comp,you can spend 4 hrs a day and have enough.

Fundamentals are the key:

NB: Am sounding a warning to all potential and would be do not be tempted invest or partner with people who do not have information or tend to "partner" with you in forex and tell you that you can invest with as little as Ksh 5000 or $70!! Those guys are not investing in forex and do not know anything,they are using it as conduit.So if you have any forex querry we have practical guys and genuine people here in this forum who can give you the information at free and have good knowledge on the market and can assist you in anyway. We have @ngaatu @toni @passyson and few others who can really help you genuinely.Dont be tempeted by the ignorant they will lie you out there.

HARD WORK,HARD WORK HARD WORK

Hi,

Since morning I have watched the pound crushing by 150 pips (last 2.5 hours). What a move! It hasnt retraced in a huge way to my comfort levels,so managed to just scalp 35 pips on 1 trade. Its really moving I wonder why? Awaiting another retracement then I short again. Currently at 1.7710. If I see 1.7750 (or close)I will short again.

USD is proving to be safe-haven after the Freddie and Fanniebail-out,so JPY will continue getting hit. Current levels of 109 are a major resistance,but if broken we may head to 109.70 then 110.

GL and GT

I think every trader took that opportunity as we projected in the morning.The move has been marvellous for the GBP/USD I projected to go around 30-60 pips before any retracement but it has hit 100 pips! The data for the U.K has been very negative as it was expected.T hats not bad for a morning session guys.

@toni sure if horses were wishes in forex!!! that 100 pips,ooops. I went out at 50 pips.Thats why discipline will always be required mzee. Hows your projections on other currencies?

Am looking at CAD building permits and i think the comdolls may eat around 25 pips of the USD,as it awaits for the consumer credits of the U.S..My technicals still are giving me a positive direction.

@NGAATU

Ny session is here with us...i am going short GBP/CHF and EUR/USD at least for the next hour...

Happy trading



Anyone who lives within their means suffers from a lack of imagination