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Shinzo Abe for Yen and now Juncker calling for weak Euro – Jan 16

January 16, 2013

LATE  UPDATE………………..

GMT 14:58  – Hi all, this is a reminder.
“Patience is the name of the game and it is not possible to make profit on all the deals.
Therefore, applying STOPs is the best strategy to be succesful in trading and EGO is the destroyer”.
However, it was yet another excellent day……
Cheers until tomorrow
GMT 7:15 – (C) ir shall buy gbp at 1.6040 for 1.6090??
GMT 7:18  – I do not favor going against trend.
My view is unchanged. I prefer picking top to sell……..
GMT 8:26  – GBP @ 1.6010 = If short take profit around 1.6005-10. Could test 1.5987 before mildy up……
GMT 8:36  – JPY @ 87.85 = Book you profit around 87.80-85…..Cheers
GMT 9:50 (C) gold at 77 should buy at 76 or 75 i get or wait more down little
GMT 9:55 – GOLD @ $ 1677.50 = Well $ 1675-76 is the level to watch still extepting to hold for up move or else $ 1672
GMT 10:12 (C) sir vie aabout euro same?? went short at 1.3290.. where to take profit??
GMT 10:13 – Yes, view on Euro is unchanged…….
GMT 10:45 (C) sir shall go short in usd/jpy at 88.30 if seen??
GMT 10:47 – Too early……………
GMT 10:53 – GOLD @ $ 1679 = Risk is increasing that if Gold fails to break $ 1682-84 levels we could see a dip towards $ 1670-72
GMT 12:58  – EURO @ 1.3264 = Book your profit around 1.3258-64…..Cheers
GMT 12:59  – GBP @ 1.5975 = Should bounce back from around 1.5965-75 as i am expecting 1.5930 to hold
GMT 13:33 – EURO @ 1.3272 = Euro may not hit 1.3240 and could re-test 1.3310-15 zones
GMT 13:38 – GOLD @ $ 1676.50 = Hope you guys took profit around $ 1674, now if $ 1678 breaks could test $ 1682-84 zones as $ 1672 should not surrender or else test of $ 1666-68 zones before up
GMT 14.33  (C) sir i bought pound at 1.5980 where should book profit ?
GMT 14:53 –  break of 1.6005-10 will see a push towards 1.6025-30. Suggest take small profit and do not spoil good days work.
Euro break of 1.3295 will encourage for av test of 1.3320
GOLD = Square position as it could move both ways

=================

GMT 3:34 – Euro @ 1.3291 – Few months ago, it was Shinzo Abe and now Juncker defending their respective currencies so why is China blamed for currency manipulation. Basically it a strategy adopted by countries to help its export rise, weak currency also attracts tourism and that helps it service industry.
Difference between now and about a year ago is that then Euro was facing threat of collapse, but today European policy makers are more comfortable with stable Euro, though Euro-zone economy is struggling to maintain required growth pace and over all economic condition remains too weak.
Meanwhile, Japanese Yen due for big correction was given support from its Economy Minister Akira Amari’s remark that an overly weak Yen is bad for its economy. I think counter questioning to Shinzo’s idea that weak Yen will inflate Japan’s economy and simultaneously help in deflating economy will give sigh of relief to BOJ’s policy makers. We could see some more correction, but Sinzo’s Abe currency interference will once again give US Dollar Bulls a chance to roar.
Euro @ 1.3291 = Euro is likley to around 1.3310-20 levels for a move towards 1.3245 or 1.3212. Apply Stop loss if 1.3360 breaks.  

 GMT  3:53 – GOLD @ $ 1682 = As long as $ 1675-76 hold, see risk for a move towards $ 1688-90 or possible test of $ 1694-95 zones. Or else $ 1668
GMT 3:44 – AUD 1.0564 = Likley to hover around 1.0525 – 1.0585 GMT 3:42- JPY @ 88.22 = Do not see amove beyond 88.50-60 with next target 87.80-85
GMT 3:40 – GBP @ 1.6064 = Sell around 1.6085-95, apply STOPs if 1.6125-30 breaks for 1.6040 or 1.6020
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