Forex/Cryptocurrency General Chit Chat Thread

[Lex1989]

Yay!!!!!! Milk powder money! Closed for 60 pips!

Solid lah.

What platform you at?

 

[Mr.Canberra]

EUR/JPY, EUR/USD

Total gains for today is currently US$202.43 Din Tai Fung profit.

 

[Mr.Canberra]

ECB

The dust has finally settled. EUR/USD initially rallied 50+ pips upon ECB interest rate decision but subsequently plunged 200+ pips over 4 hours!

I believe many traders were caught long and the deep dive was long covering. With European session ending I guess most have taken their losses and will lick their wounds for the time being.

During scalping I have one EUR/JPY long position kena stucked. Currently down -155 pips.

 

[Mr.Canberra]

EUR/USD

EUR/USD at 1.15 and EUR/SGD at 1.55 will be a super bargain price if you hold some non-leverage EUR cash in your basket of currencies so no need to pay swap interest for holding EUR.

More upside than downside at this level. When EUR strengthens again which I believe it will towards Q4 2018.

EUR/USD
1.15 is the big boys' buy target and 1.25 is the sell target.

EUR/SGD
1.55 is the big boys' buy target and 1.65 is the sell target.

Forex market is rigged to a certain extent so use your independent analysis and common sense. When the trade gets too crowded that means the market is going to flip soon.

USD strength is going to flip soon from Q3 2018. It has a good run in Q2 2018.

 

[Mr.Canberra]

USD

USD strengthened significantly overnight. Asian and major currencies got thrashed especially EUR.

Those holding USD in your non leverage basket of currencies song boh? Happy with the mini boost?

Said it a million times. This is the power of maintaining a basket of major currencies to hedge and preserve your purchasing power. Combined with arbitraging and interest rate differentials it is an invincible strategy.

1st step to financial freedom is not about how to make your first dollar by investment/trading because once you have this notion you will fail. The priority is to learn how to preserve your purchasing power and capital first. The rest will follow seamlessly once your fundamentals are solid. A building needs to have a solid foundation to stand firmly.

 

[Mr.Canberra]

Newly opened AUD/USD (long) and EUR/JPY (long) positions stucked since last night.

It seems that the market will continue to be volatile at least until New York closing today. Trade with care because the swing is pretty wild since yesterday. Really pity those stop loss orders being taken out like Turkey shoot hahaha.

 

[Mr.Canberra]

Gold

Have not seen gold laosai like today since December!

Yesterday EUR laosai, today is gold's turn!

 

[Takodoro]

EUR/USD at 1.15 and EUR/SGD at 1.55 will be a super bargain price if you hold some non-leverage EUR cash in your basket of currencies so no need to pay swap interest for holding EUR.

More upside than downside at this level. When EUR strengthens again which I believe it will towards Q4 2018.

EUR/USD
1.15 is the big boys' buy target and 1.25 is the sell target.

EUR/SGD
1.55 is the big boys' buy target and 1.65 is the sell target.

Forex market is rigged to a certain extent so use your independent analysis and common sense. When the trade gets too crowded that means the market is going to flip soon.

USD strength is going to flip soon from Q3 2018. It has a good run in Q2 2018.

What is the basis for USD strength to flip in Q3?

 

[Mr.Canberra]

USD

What is the basis for USD strength to flip in Q3?

My indicator is when the trade becomes overcrowded. It is time to bail.

I suggest you monitor the weekly CFTC's futures contracts if you want to understand what I am talking about.

My contracts balance sheet is currently US$520,000 in total. Unrealised loss -US$16,000. I know I will have attain the next level of 'Forex manipulation' once balance sheet reaches US$1 Million!

Ai zai lah! Mai chua sai like chua sai boy!

I learn from the best.

FED: 'QE' to get free credit at almost zero cost out of thin air. Rollover perpetually or increase/reduce balance sheet according to circumstances.
MAS: Maintaining a basket of major currencies to preserve purchasing power parity.

 

[ExtremeWays]

My indicator is when the trade becomes overcrowded. It is time to bail.

I suggest you monitor the weekly CFTC's futures contracts if you want to understand what I am talking about.

My contracts balance sheet is currently US$520,000 in total. Unrealised loss -US$16,000. I know I will have attain the next level of 'Forex manipulation' once balance sheet reaches US$1 Million!

Ai zai lah! Mai chua sai like chua sai boy!

I learn from the best.

FED: 'QE' to get free credit at almost zero cost out of thin air. Rollover perpetually or increase/reduce balance sheet according to circumstances.
MAS: Maintaining a basket of major currencies to preserve purchasing power parity.

What is chuasai if I made money on USD?

 

[havetheveryfun]

What is chuasai if I made money on USD?

https://digchinese.com/en/saying/cidiwuyinsanbailiang

 

[Mr. Wood]

Many speeches this week! Make prata flipping great again!


TueJun 19 *
1:30am EUR ECB President Draghi Speaks
9:30am AUD Monetary Policy Meeting Minutes
4:00pm EUR ECB President Draghi Speaks
8:30pm USD Building Permits

WedJun 20
9:30pm AUD RBA Gov Lowe Speaks
EUR ECB President Draghi Speaks
JPY BOJ Gov Kuroda Speaks
USD Fed Chair Powell Speaks

10:30pm USD Crude Oil Inventories

ThuJun 21
6:45am NZD GDP q/q
3:30pm CHF Libor Rate
CHF SNB Monetary Policy Assessment

4:30pm CHF SNB Press Conference
7:00pm GBP MPC Official Bank Rate Votes
GBP Monetary Policy Summary
GBP Official Bank Rate

FriJun 22
4:15am GBP BOE Gov Carney Speaks

All Day All OPEC Meetings

8:30pm CAD CPI m/m
CAD Core Retail Sales m/m

 

[ExtremeWays]

https://digchinese.com/en/saying/cidiwuyinsanbailiang

I make 100 pips for each trade

 

[Mr.Canberra]

https://digchinese.com/en/saying/cidiwuyinsanbailiang

Ownself gong, ownself song!

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 18-22, 2018)

EURUSD:

Technical Outlook: The EURUSD currency pair fell back to the 1.1607 level of support as noted from last week. The declines came after the curency pair briefly tested the highs near the resistance level of 1.1848. The declines however look to be consolidating for the moment. A recovery around the 1.1607 is likely as the EURUSD could be seen retesting the resistance level near 1.1848. This is evidenced by the fact that the 4-hour Stochastics oscillator is posting a hidden bullish divergence.

Fundamental Outlook: After a rather busy week last week that saw the ECB’s meeting, the Euro markets head into a quiet period ahead. The economic calendar for the week ahead is mostly dominated by the flash services and manfuacturing PMI numbers. The data forecasts the economic performance for the month of June. With the second quarter of the year almost coming to an end, investors will be closely watching the flash PMI numbers as it could signal the potential GDP growth in the economic bloc. The Eurozone consumer confidence numbers will also be coming out to reflect the consumer sentiment in the region.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 18-22, 2018)

GBPUSD:

The GBPUSD is currently moving in a very narrow consolidation zone. We have a strong support level at 1.3200, which is currently holding the downside and it’s the bottom of the range. On the upside the 1.3450 followed by the big psychological number 1.3500 acts as a strong resistance. We need a clear breakout of these support and resistance levels in order to see some trend development. The stochastic indicator is also moving away from oversold territory which can help keep the GBPUSD inside the current price range.

For future price development we can expect the GBPUSD to try to fill in the previous week price range, so a retest of the last week opening price cannot be ruled out. In terms of fundamental catalysts that can disrupt the market volatility we have the BOE interest rate decision. According to the general consensus the BOE is expected to keep interest rates on hold at 0.5%. Rising inflation fears and mixed economic figures can make it harder to time the next BOE rate hike. Friday, traders need to keep an eye on the BOE Quarterly Bulletin which can generate some volatility as well.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 18-22, 2018)

USDCHF:

Technical Outlook: The USDCHF currency pair broke out from the sideways range established within 0.9894 and 0.9821. The upside breakout in prices pushed the currency pair to test the 0.9957 resistance. The upside momentum could keep the gains intact as USDCHF could be seen rallying to the next resistance level of 1.0042. This would mark a strong recovery in the USDCHF currency pair which was previously seen drifting back to form a bottom at 0.9821.

Fundamental Outlook: The week ahead will be dominated by the Swiss National Bank’s monetary policy meeting. According to sources, the SNB is expected to leave the 3 month LIBOR rate unchanged at -0.75%. The monetary policy decision due on Thursday will be followed up by a press conference. No changes are expected at this week’s meeting. Data from the U.S. will also influence the currency pair. Most of the economic reports from the U.S. this week will cover the housing market sector.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 18-22, 2018)

USDJPY:

Technical Outlook: The USDJPY currency pair was seen lifting off the support level at 109.97 to test the previously established resistance level at 110.91 – 110.66 region. The rally to this level looks to be a bit overstretched as we expect some short term correction. The declines are likely to send USDJPY back to testing the support at 109.97 and a break out from the rising price channel could signal a further decline back to 109.14. Alternately, to the upside, in the event of a breakout above 109.97, USDJPY could be seen targeting the 111.00 level.

Fundamental Outlook: The economic calendar for the Japanese yen is relatively light after last week’s BoJ meeting. The trade balance figures kick off the week followed by the national CPI readings and the flash manufacturing PMI figures for June. The economic data is unlikely to make a big impact on the currency markets. The overall market sentiment will of course dictate the course of price action in an otherwise quiet trading week.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 18-22, 2018)

USDCAD:

The USDCAD has broken to new yearly highs after it successfully broke above the previous swing high 1.3124. This is a clear bullish sign, but the market needs to take its breath after the recent explosive rally. The next major resistance level comes at 1.3250 were the USDCAD can find some sellers. Only a daily close above 1.3250 can open the door for more gains. However, sooner rather than later we should see some retracement or at least some type of consolidation. The stochastic indicator has reached extreme overbought readings which suggest the current rally should slow down.

On the downside, the previous swing high 1.3124 followed by the top of the previous consolidation 1.3065 should act as support levels. As long as we trade above the big psychological number 1.3000 the bullish trend should remain intact. The Canadian economic calendar will bring the CPI inflation figures in terms of high risk events. The OPEC meeting should also act as a catalyst because of the tight correlation between Crude Oil prices and the Canadian Dollar.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (Jun 18-22, 2018)

AUDUSD:

The Aussie continues to trade above its previous swing low 0.7410 and the fact that we couldn’t post a weekly close below it, we continue to remain bullish. However, we can’t rule out the possibility of a false breakout below 0.7411 before the bullish momentum shows up. Only a daily break and close below 0.7411 can open the door for the AUDUSD to challenge again the major swing low 0.7335. The stochastic indicator has reached extreme oversold readings, which should provide us with at least some type of ranging activity before the next move to show up.

The bulls need to take the big round number 0.7500, so a daily close above 0.7500 can see more acceleration to the upside. But we have to keep in mind we’re still trading in a big consolidation zone. We also have some risk events scheduled on the Australian economic calendar. Tuesday we have the RBA’s Meeting Minutes while Wednesday the RBA Governor Lowe is due to participate in a panel discussion at the European Central Bank Forum on Central Banking, in Portugal.