FXstreet.com Live Sessions Archives: Market Viewpoint & Live Commentary

05/19/2010

US CPI Live Coverage

US CPI Live Coverage with Valeria Bednarik

(05/19/2010)

1:14

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Wednesday May 19, 2010 1:14 FXstreet.com

1:14

FXstreet.com:

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Wednesday May 19, 2010 1:14 FXstreet.com

1:15

FXstreet.com:

Good morning, good afternoon and good evening to everyone all over the world. Today's U.S. Consumer Price Index Live Coverage is going to start shortly. I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status.

Wednesday May 19, 2010 1:15 FXstreet.com

1:15

FXstreet.com:

Valeria Bednarik has been an active Forex trader for the last 5 years, specializing in the International Foreign Exchange Market. She also graduates in the Universidad Catolica del Salvador, in Argentina, as a Public Account, specializing in financials and cost managements.

Wednesday May 19, 2010 1:15 FXstreet.com

1:16

FXstreet.com:

She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word.

Wednesday May 19, 2010 1:16 FXstreet.com

1:17

Valeria Bednarik:

Hi everyone, and welcome to this live coverage!

Wednesday May 19, 2010 1:17 Valeria Bednarik

1:17

FXstreet.com:

Hi Valeria welciome back to live coverage.

Wednesday May 19, 2010 1:17 FXstreet.com

1:17

Valeria Bednarik:

As always my pleasure to be here with you and Fxstreet.com team!

Wednesday May 19, 2010 1:17 Valeria Bednarik

1:18

Valeria Bednarik:

We are waiting for the macro data of the day, US CPI and at the same time CAD Wholesales inventories, with majors in extreme oversold levels against greenback

Wednesday May 19, 2010 1:18 Valeria Bednarik

1:19

Valeria Bednarik:

Just before starting, dollar jumped down strongly as market realized that German ban of short sell bonds will be limited not as worse as it was understood yesterday.

Wednesday May 19, 2010 1:19 Valeria Bednarik

1:19

[Comment From RAJURAJU: ]

GOLD TREND

Wednesday May 19, 2010 1:19 RAJU

1:20	Wednesday May 19, 2010 1:20

1:21

Valeria Bednarik:

Gold has been in a strong bullish trend lately, reaching a fresh high around 1250. Currently pair approaching to the 38.2% retracement of the last bullish rally from 1124 to mentioend 1250, exactly at 1202. I will expect further downside in gold, if 1202 gives up, probably heading towards 1182/86 area.

Wednesday May 19, 2010 1:21 Valeria Bednarik

1:22

Valeria Bednarik:

If current level holds, above 1213 gold could resume bullish trend and approach intraday yo 1222/26 zone

Wednesday May 19, 2010 1:22 Valeria Bednarik

1:22

[Comment From ElvirElvir: ]

Hi Valeria, what is your prediction for US CPI? Thanks,

Wednesday May 19, 2010 1:22 Elvir

1:23

Valeria Bednarik:

After yesterday's PPI readings under expectations, I believe we could see also a worse than expected reading in CPI. previous month was 0.1% and market expects a 0.2% now, while Core is expected at 0.1% from 0.0%

Wednesday May 19, 2010 1:23 Valeria Bednarik

1:23

[Comment From glen from indonesiaglen from indonesia: ]

Hello Val, what do you think for GBP/JPY, why still down trend

Wednesday May 19, 2010 1:23 glen from indonesia

1:23	Wednesday May 19, 2010 1:23

1:25

Valeria Bednarik:

Pair is strongly rebounding right now from 129.80 area, past May 5th low, forming a probable double bottom there,

Wednesday May 19, 2010 1:25 Valeria Bednarik

1:26

Valeria Bednarik:

news that German ban is not as bad as believed yesterday are increasing slightly risk appetite, thus at this point, could be just corrections after yesterday's fall. GBP/JPY holds a strong bearish tone and only a daily close above 133.10 could revert the bias.

Wednesday May 19, 2010 1:26 Valeria Bednarik

1:26

[Comment From GuestGuest: ]

How do you see EURJPY

Wednesday May 19, 2010 1:26 Guest

1:26	Wednesday May 19, 2010 1:26

1:28

Valeria Bednarik:

Pair has just also spike back above 112,00, quoting now around 112.30; if corrective movement manages to extend above 112.60, next resistances come at 113.20 and 113.80, while longer term bias remains bearish as long as under 115.50. Supports now are located at 111.60 110.80 and 110 area

Wednesday May 19, 2010 1:28 Valeria Bednarik

1:28

[Comment From SenthilSenthil: ]

Hi Valeria what is you predication of AUD ?

Wednesday May 19, 2010 1:28 Senthil

1:28	Wednesday May 19, 2010 1:28

1:30

Valeria Bednarik:

Several info cames form weekly charts in the pair. as you can see I have market the 0.8580 area: is the neeckline of a double roof; pair has break under it, and attempt to regain it several times today, still unable to do so. I see a quite huge support at the 0.8380 area, a Fibo level, also in the weekly chart. A daily close under it should signal further mid term falls. Short term, pair is extremelly oversold, and we could see some corrections with immediate resistances at 0.8480 0.8530 and 0.8580 area

Wednesday May 19, 2010 1:30 Valeria Bednarik

1:31

Valeria Bednarik:

Data is already here, as comment above, negative!

Wednesday May 19, 2010 1:31 Valeria Bednarik

1:32

Valeria Bednarik:

That should be dollar negative as it dull the chance of a rate hike in the US. Probably a good excuse to see some dollar bearish corrections today.

Wednesday May 19, 2010 1:32 Valeria Bednarik

1:32

[Comment From LeoLeo: ]

hi, whats the expectation on USD/JPY

Wednesday May 19, 2010 1:32 Leo

1:32	Wednesday May 19, 2010 1:32

1:33

Valeria Bednarik:

Tight now, pair is struggling with 91.60, 100 SMA in the daily chart in general pair has a bearish tone, as risk aversion keeps ruling market and after breaking the base of past weeks range. under 91.20 supports come at 90.70 and 90.30 zone.

Wednesday May 19, 2010 1:33 Valeria Bednarik

1:34

Valeria Bednarik:

I dont see the pair regaining the upside in the short term. above 91.70 intraday pair could extend to 92.10/30 area but not much more.

Wednesday May 19, 2010 1:34 Valeria Bednarik

1:34

[Comment From manomano: ]

any predictions for eur usd

Wednesday May 19, 2010 1:34 mano

1:35

Valeria Bednarik:

Regardin Euro, pair has apporached to 1.2130, that represents the 50% retracement of a Fibonacci rally, measured from the 0.82 all time low, to the 1.60 all time high; many eyes are focus on that level as an inflection point for the pair, yet as for my technical analysis I see stronger support just a bit under it, around 1.2110, really not much more difference, but anyway, if the pair lose this last, 1.2065 is next support area, followed by 1.2000 zone for today.

Wednesday May 19, 2010 1:35 Valeria Bednarik

1:36

Valeria Bednarik:

However, we are nos above 1.2230 that has been capping the upside for the past 2 sessions. Pair tested 1.2280 and above it, maybe rally short term talking could extend close to 1.2330 zone. Still is too early to call for a bottom and a long term bullish correction. Pair will need a daily close above 1.2460 or so, to signal that.

Wednesday May 19, 2010 1:36 Valeria Bednarik

1:36

[Comment From ScottScott: ]

Hi Valeria, thank you for your time today! What do you see for the AUDUSD & AUDJPY?

Wednesday May 19, 2010 1:36 Scott

1:39

Valeria Bednarik:

Regarding AUD/USD, comments are already above; in what it has to do with AUD/JPY, oair is retreating strongly form the 76.00 level, a huge support that if gives up, likely signal a strong downside continuation long term talking. However, as all yen crosses remains mostly bearish; now at 77.50, pair needs to regain 78 area to lose current bearish tone, and maybe extend rally close to 78.80. Supports now are at 77.00, and 76.00/20 zone.

Wednesday May 19, 2010 1:39 Valeria Bednarik

1:39

[Comment From ADXADX: ]

near term supports and resi for crude oil...tks

Wednesday May 19, 2010 1:39 ADX

1:40

Valeria Bednarik:

supports for oil are at 71.40, 70.60 and then 69.80. Resistances 73,00 area, 73.80 and 75.00

Wednesday May 19, 2010 1:40 Valeria Bednarik

1:40

[Comment From GuestGuest: ]

valeria, what do you think of pound/us. I am thinking of shorting it now.

Wednesday May 19, 2010 1:40 Guest

1:41	Wednesday May 19, 2010 1:41

1:43

Valeria Bednarik:

Pound has set a fresh low today, barely under previous 1.4250 one; both lows and current recovery could be a double floor still too early to care; pair is trying to regain 1.4310720 resistance level, if it does, could extend first to 1.4360 and later an approach to 1.44 area, thus if we start falling again, under 1.4260 or so, I would expect the pair to approach to 1.4200. As for euro and aussie, long term bias remains strongly bearish, while intraday or short term talking, we could see some limited upside corrrections.

Wednesday May 19, 2010 1:43 Valeria Bednarik

1:43

[Comment From mariyappanmariyappan: ]

what about eur/usd

Wednesday May 19, 2010 1:43 mariyappan

1:43

Valeria Bednarik:

Already comment, please take a look above. unless we overcome 1.2280 short term, and 1.2460 mid term, pair remaisn bearish

Wednesday May 19, 2010 1:43 Valeria Bednarik

1:44

[Comment From RAJURAJU: ]

SILVER TREND

Wednesday May 19, 2010 1:44 RAJU

1:44

Valeria Bednarik:

sorry Raju, I don't follow silver.

Wednesday May 19, 2010 1:44 Valeria Bednarik

1:44

[Comment From GuestGuest: ]

high CPI will affect Fed policy???

Wednesday May 19, 2010 1:44 Guest

1:45

Valeria Bednarik:

well a high cpi reading should signal a rate hike. Data was worse than expected and even more, negative; adding to that current unemployment levels in the US, seems a rate hike is far, far away at this point.

Wednesday May 19, 2010 1:45 Valeria Bednarik

1:45

[Comment From thomasthomas: ]

do you think the usdjpy remain bullish? what is the support and resistance level.

Wednesday May 19, 2010 1:45 thomas

1:46

Valeria Bednarik:

As comment above, no, the pair is mostly bearish, after losing 92.35 area, thus I don't discard a correction to such levels intraday talking. Longer term, pair really needs to overcome and consolidate above 94 to return to it's previous bullish trend.

Wednesday May 19, 2010 1:46 Valeria Bednarik

1:46

[Comment From MaximusMaximus: ]

We're heading toward 1.2 nett for the EUR/USD pair if the current issue in Europe isn't going to be rectified...

Wednesday May 19, 2010 1:46 Maximus

1:47

Valeria Bednarik:

In fact, pair could adress even lower than that, mid term talking if 1.2100 area gives up. That does not mean movement will be straight to the downside.

Wednesday May 19, 2010 1:47 Valeria Bednarik

1:48

Valeria Bednarik:

Seems more than 1 think is taking place right now in markets. EUR7CHF jumped 100 pips to the upside, could be some intervention movement form SNB

Wednesday May 19, 2010 1:48 Valeria Bednarik

1:48

[Comment From MaximusMaximus: ]

It doesn't augur well for the Euro and at the same time, it'll hurt the American exports as well...

Wednesday May 19, 2010 1:48 Maximus

1:50

Valeria Bednarik:

Yes you have a point there. General euro zone situation is bad maybe worse than american at this point, and that's why dollar gain strongly these days, but not because US is in it's best shape.

Wednesday May 19, 2010 1:50 Valeria Bednarik

1:50

[Comment From DaveDave: ]

How gold looking

Wednesday May 19, 2010 1:50 Dave

1:50

[Comment From petrickpetrick: ]

Hi Valeria, can you ive me your view on xau/usd??

Wednesday May 19, 2010 1:50 petrick

1:51

Valeria Bednarik:

As comment above, gold has the 38.2% retracement of past bulish daily rally around 1202, and seems to be rebounding from that level.

Wednesday May 19, 2010 1:51 Valeria Bednarik

1:51

Valeria Bednarik:

I will expect further downside in gold, if 1202 gives up, probably heading towards 1182/86 area, but if current level holds, above 1213 gold could resume bullish trend and approach intraday yo 1222/26 zone

Wednesday May 19, 2010 1:51 Valeria Bednarik

1:52

[Comment From GuestGuest: ]

where do u see gbpjpy going by next wk?

Wednesday May 19, 2010 1:52 Guest

1:53

Valeria Bednarik:

That will depend on how its ends this one. As long as under 1.4500, pair is mid term bearish, heading towards 1.4000 strong support area; short term talking pair is now tring to overcome 1.4310/20 resistance area, as comment above, that should trigger further upsdie corrective movements towards 1.4360 area, if it manages to hold above this levels.

Wednesday May 19, 2010 1:53 Valeria Bednarik

1:53

[Comment From KentKent: ]

How do you think about AUD/JPY?

Wednesday May 19, 2010 1:53 Kent

1:54

Valeria Bednarik:

As comment above pair is reboundingstrongly form the 76.00 level, a huge support that if gives up, likely signal a strong downside continuation long term talking. However, as all yen crosses remains mostly bearish; now at 77.80, pair needs to regain 78 area to lose current bearish tone, and maybe extend rally close to 78.80. Supports now are at 77.00, and 76.00/20 zone

Wednesday May 19, 2010 1:54 Valeria Bednarik

1:55

[Comment From GuestGuest: ]

Hi valeria, wat do you think of eur/jyp is it a gd time to short ?

Wednesday May 19, 2010 1:55 Guest

1:56	Wednesday May 19, 2010 1:56

1:56

Valeria Bednarik:

i believe intraday we could see further upside in the pair, so is not the best take for me. At this point, current rally could extend to 113.60/80 area before halting the rally

Wednesday May 19, 2010 1:56 Valeria Bednarik

1:56

[Comment From angeloangelo: ]

Hello,,,I wander if the target for eur usd today is 1.246 and I think that it's strong to breake this point...Isn't it?

Wednesday May 19, 2010 1:56 angelo

1:57

Valeria Bednarik:

Hi Angelo, yes is a very strong point, but seems a bit far away now. Pair needs first to overcome 1.2330 and then 1.2380 area, to confirm a continuation rally.

Wednesday May 19, 2010 1:57 Valeria Bednarik

1:57

[Comment From timtim: ]

Do you think it is possible to see euro at 100yen?

Wednesday May 19, 2010 1:57 tim

1:58

Valeria Bednarik:

Everything is posible.. the question is when... I can't see that level anytime soon my friend,

Wednesday May 19, 2010 1:58 Valeria Bednarik

1:58

[Comment From LeoLeo: ]

what effect do u think the JAP GDP news tmr will have effect on USD?JPY?

Wednesday May 19, 2010 1:58 Leo

1:58

Valeria Bednarik:

Japan news barely affect the market usually, so probably no much effect.

Wednesday May 19, 2010 1:58 Valeria Bednarik

2:00

FXstreet.com:

We have just 10 mnutes left. If you have any questions related to the Forex market, please do not hesitate to ask Valeria.

Wednesday May 19, 2010 2:00 FXstreet.com

2:00

[Comment From GuestGuest: ]

max high for the day for eur?

Wednesday May 19, 2010 2:00 Guest

2:00

Valeria Bednarik:

seems a bit too much but tops 1.2420/40 area

Wednesday May 19, 2010 2:00 Valeria Bednarik

2:00

[Comment From GuestGuest: ]

Hi Val, wats your view for eur/jyp

Wednesday May 19, 2010 2:00 Guest

2:01

Valeria Bednarik:

As comment above, long term bias remains bearish as long as under 115.50, yet short term, we are heading towards 113.60 resitance area now, ahead of 114.20 zone

Wednesday May 19, 2010 2:01 Valeria Bednarik

2:01

[Comment From GuestGuest: ]

gbpy is a buy for 135 or short for 128?

Wednesday May 19, 2010 2:01 Guest

2:02

Valeria Bednarik:

Well those are no doubts strong long term resistance and support area. but is not just the levle, is how a pair reached it what suggest if the trend is likley ot contniue or not.

Wednesday May 19, 2010 2:02 Valeria Bednarik

2:02

[Comment From SanjaySanjay: ]

Do you see EUR/USD making new low today.

Wednesday May 19, 2010 2:02 Sanjay

2:03

Valeria Bednarik:

if the pair loses back the 1.2280 level, could run back to daily lows yes. Has just tested 1.2330 resistance area, stil capped under it

Wednesday May 19, 2010 2:03 Valeria Bednarik

2:03

[Comment From angeloangelo: ]

thanks

Wednesday May 19, 2010 2:03 angelo

2:04

[Comment From ErnestErnest: ]

Hi Valeria, I have been trading upwards trend in GBPJPY for a week now. do you think it will change direction and moves upwards or I should just get out of the trade.

Wednesday May 19, 2010 2:04 Ernest

2:06

Valeria Bednarik:

My friend, I can't take your trading decisions for you. You have to ask yourself, what signal do you see to buy the pair, if that signal is still valid, and if you risk capital according to your risk management plan; and the answer of course will depend on where you buy, and many other factors than only you know. Yet if the pair dont regain at least 132.60/80 area quickly, bias remains short there

Wednesday May 19, 2010 2:06 Valeria Bednarik

2:06

[Comment From aslamaslam: ]

hi i am aslam from pakistn.i buy the euro when it is 1.52 now it is 1.2330.do u think its break 1.20 level

Wednesday May 19, 2010 2:06 aslam

2:08

Valeria Bednarik:

I do believe yes, that's there is still achance of lower lows. Again you must ask and answer yourself, why you took that trade, and if it's worth it to risk a % of your capital holding a position for so long.

Wednesday May 19, 2010 2:08 Valeria Bednarik

2:09

[Comment From rezrez: ]

hello valeria what is the pair to trade then in your idea,many thanks love.

Wednesday May 19, 2010 2:09 rez

2:10

Valeria Bednarik:

I believe that now, probably will be focusing my attention in Pound if manages to overcome the 1.4360 level, and austrian dollar also, probably heading towards 0.8580 again, thus I will give the market a couple of minutes and take a good look as being here is keeping me out of following 100% the pairs.

Wednesday May 19, 2010 2:10 Valeria Bednarik

2:11

FXstreet.com:

Sorry we are short of time today, I have to wrap up the session.

Wednesday May 19, 2010 2:11 FXstreet.com

2:11

FXstreet.com:

Thank you Valeria for the great market view!... and every one who has joined the session today. I have had a great time with you.

Wednesday May 19, 2010 2:11 FXstreet.com

2:12

Valeria Bednarik:

Sorry, guys times over, I have to go. As usual, it has been great for me being here with you! hope you enjoyed the session as much as I do! . I also hope to see you all back soon in next live coverage.

Wednesday May 19, 2010 2:12 Valeria Bednarik

2:12

FXstreet.com:

Valeia, please give us a final word.

Wednesday May 19, 2010 2:12 FXstreet.com

2:12

Valeria Bednarik:

Remeber trade what you see, not what you believe, and never forget to protect your trades with stop losses! Seeyou. bye for now.

Wednesday May 19, 2010 2:12 Valeria Bednarik

2:13

Valeria Bednarik:

Bye Bye!

Wednesday May 19, 2010 2:13 Valeria Bednarik

2:13

[Comment From ErnestErnest: ]

Thanks for your help.

Wednesday May 19, 2010 2:13 Ernest

2:13

FXstreet.com:

Alright evey one,, Thank you for coming today! I hope to see you all in the next live coverage. Have a nice trading day!

Wednesday May 19, 2010 2:13 FXstreet.com

2:13

[Comment From rezrez: ]

many many thanks love

Wednesday May 19, 2010 2:13 rez

2:14

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Wednesday May 19, 2010 2:14 FXstreet.com

2:14

FXstreet.com:

Wednesday May 19, 2010 2:14 FXstreet.com

2:15

Posted by FXstreet Team in Fundamental Analysis, Market Viewpoint & Live Commentary, Open Discussion | Permalink | Comments (0)

05/17/2010

Pip Movement Ranges for Better Trade Management

Expert: Raghee Horner, Trader and Author at Raghee.com
Moderator: Maud Gilson, Conference Manager

Summary:

Join Raghee Horner as she walks you through PowerStats and discuss the current volatility of the market with the pip movement ranges and learn how to better place you stop loss and profit targets.

Continue reading "Pip Movement Ranges for Better Trade Management" »

Posted by FXstreet Team in Chart Patterns, Market Viewpoint & Live Commentary, Technical Analysis, Trading Systems | Permalink | Comments (0)

Asian Session: Live Market Analysis

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. Sivaraman will review the previous day close levels and calls given in his blog and present expected trading ranges in 4 majors and 2 commodity pairs.

Continue reading "Asian Session: Live Market Analysis " »

Posted by FXstreet Team in Expert Q&A Sessions, Fundamental Analysis, Market Viewpoint & Live Commentary, Open Discussion, Trading Strategies & Ideas | Permalink | Comments (0)

05/16/2010

Weekly Markets Opening Live Coverage

Weekly Markets Opening Live Coverage with Valeria Bedarik

(05/16/2010)

10:54

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Sunday May 16, 2010 10:54 FXstreet.com

10:54

FXstreet.com:

Sunday May 16, 2010 10:54 FXstreet.com

10:59

FXstreet.com:

Good morning, good afternoon and good evening to everyone all over the world. Be very welcome to a new edition of Weekly Markets Opening LIVE. This is the time to take a look to the market status and to prepare yourself for the week's opening. We would like to thank you for being here with us today.

Sunday May 16, 2010 10:59 FXstreet.com

11:00

FXstreet.com:

I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word.

Sunday May 16, 2010 11:00 FXstreet.com

11:02

FXstreet.com:

Hi Valeria! Thanks for being with us once again! What do you expect for this coming week?

Sunday May 16, 2010 11:02 FXstreet.com

11:03

Valeria Bednarik:

Hi everyone, and welcome to this Weekly opening Live coverage. As always, my pleasure to be here with you today. Tks for sharing this space with me, and Fxstreet.com!.

Sunday May 16, 2010 11:03 Valeria Bednarik

11:03

Valeria Bednarik:

If I have to answer that question in two words, I would say RISK TREND.

Sunday May 16, 2010 11:03 Valeria Bednarik

11:04

Valeria Bednarik:

Market has been moving according to sentiment over the psat few weeks, and is likely to continue doing so over the next days.

Sunday May 16, 2010 11:04 Valeria Bednarik

11:05

Valeria Bednarik:

Euro open the week slighlty lower compared to past Friday's low, quoting now at 1.2347; during the past two weeks fall in the EUR accelerated and it looks to have no end at sight; however we should not discard some sort of exhaustion move, as pair has approached to key 2008 low 1.2330 area, with extreme oversold conditions both in 2eekly and daily charts.

Sunday May 16, 2010 11:05 Valeria Bednarik

11:05

Valeria Bednarik:

weekly, sorry! Anyway,

Sunday May 16, 2010 11:05 Valeria Bednarik

11:06

[Comment From nagallanagalla: ]

supports and resi for euro this week and is it really bottomout now thanks

Sunday May 16, 2010 11:06 nagalla

11:07

Valeria Bednarik:

as comment above, quoting at 1.2346 and despite first week in over a month market points for a more "quiet" Sunday Asian opening, pair has inmediate support at the 1.2330 area, past 2008 low. Under that level, short term talking pair could extend to 1.2280 area,

Sunday May 16, 2010 11:07 Valeria Bednarik

11:08

Valeria Bednarik:

with 1.2200 as next support in line: pair shows several monthly lows and highs around that level, so at least i would expect some interesting rebound from the area.

Sunday May 16, 2010 11:08 Valeria Bednarik

11:09

Valeria Bednarik:

Resistances for next hours come at 1.2410, 1.2460 and 1.2520 zone; longer term ones, come at 1.2800 and 1.3120 area; only above this last pair could change current bearish trend;

Sunday May 16, 2010 11:09 Valeria Bednarik

11:09

[Comment From SaryuSaryu: ]

Hi Val, This week is not loaded with fundamental news from USD, do you think it will still be able to continue its upward trip? Do you see Euro touching 1.2000 this week? Thanks

Sunday May 16, 2010 11:09 Saryu

11:11

Valeria Bednarik:

We have some first line news in the US, starting tomorrow with TIC data, thus as comment above, is not just "dollar strength" driving the rally, but more rosk sentiment trend, and euro weakness: sovereign debt issues of the euro zone had made investors doubt about chances of a world economic recovery. And if we lose 1.22, yes pair can easily reach the 1.20 area.

Sunday May 16, 2010 11:11 Valeria Bednarik

11:11

[Comment From nagallanagalla: ]

near term target for gold?

Sunday May 16, 2010 11:11 nagalla

11:13

Valeria Bednarik:

As long as above 1200/10, gold continues having a bullish perspective. From curernt 1232, 1237 1245 and 1250 are immediate resistances, while supports lie at 1224, 1218 and 1200 area

Sunday May 16, 2010 11:13 Valeria Bednarik

11:13

[Comment From darrendarren: ]

Whats your thoughts on USD/JPY and USD/CAD for the week ahead

Sunday May 16, 2010 11:13 darren

11:13

Valeria Bednarik:

The Yen ended slightly lower against the dollar past week, thus marked strong gains against the Euro and Pound as the European sovereign debt crisis increased investors needs of the safe haven currency.

Sunday May 16, 2010 11:13 Valeria Bednarik

11:15

Valeria Bednarik:

USD/JPY seems slightly bearish for me, after strong retreat from 95.00 level. Quoting around 92.30, inmediate support comes at 91.80, thus I will be watching 91.50 support area, as I do see that as a more interesting breakdown point; daily close under it, could signal an approach to 90.00. We have BOJ economic policy this week, so will be watching for deflation or devaluation commnets there also

Sunday May 16, 2010 11:15 Valeria Bednarik

11:16

Valeria Bednarik:

needs to close a day above 93.40 at least, to change this bearishness; immediate resistances for the next 24 hours come at 92.60, 92.90/93.00 and mentioned 93.40 zone

Sunday May 16, 2010 11:16 Valeria Bednarik

11:17

Valeria Bednarik:

REgarding Canadian dollar, USD/CAD continues rising as Cad lost ground amid oil barrel losing the $ 80 support; however, market will be looking for inglation reports this week to be signaling or not, a probable rate hike from BOC ahead. Despite slightly bullish, pair needs to overcome 1.0400 to confirm a mid term longer extension

Sunday May 16, 2010 11:17 Valeria Bednarik

11:18

Valeria Bednarik:

supports form current 1.0335 comes at 1.0300 1.0255 and 1.010 area, while resistances are at 1.0360 and 1.0400 zone

Sunday May 16, 2010 11:18 Valeria Bednarik

11:18

[Comment From nagallanagalla: ]

plz comment on eur/chf......thanks

Sunday May 16, 2010 11:18 nagalla

11:21

Valeria Bednarik:

Despite strong comments/rumors of SNB aiming to intervene market at current 1.4000 area, pair has been barely above it for the past 3 trading days; and I do believe that SNB won't be able to halt the fall if euro slump extends across the board. Pair could extend the fall as it has been doing since 1 year ago: slowly but steadily. Recover should extend above 1.4130 to confirm an extension, thus, keep in minf is a slow mover, and not the best choice to trade favoring an euro correction at this point. Immediate resistances are at 1.4030 1.04070 and 1.4130. Under 1.3980, consideran approach to 1.3900/20 zone.

Sunday May 16, 2010 11:21 Valeria Bednarik

11:21

[Comment From benaissibenaissi: ]

hi how are you.what do you think about AUD/USD

Sunday May 16, 2010 11:21 benaissi

11:23

Valeria Bednarik:

As I have been seeing past month, investors took deeps to buy, I know ee market has turned bias, and aussie seems more bearish at this point: upside spikes are taken as good selling oportunities in the AUD/USD, with 0.9020 being key resistance level to waych. Currentyl at 0.8860 zone, pair has supports at 0.8800, and key midterm one, lies at 0.8710 this may low. I would expect pair to resume downtrend if that last gives up

Sunday May 16, 2010 11:23 Valeria Bednarik

11:24

[Comment From MoonMoon: ]

Hello,Breaking what level in EUR/USD can change the trend to UPwards ?

Sunday May 16, 2010 11:24 Moon

11:25

Valeria Bednarik:

short term 1.2440, long term as comment above 1.3120

Sunday May 16, 2010 11:25 Valeria Bednarik

11:25

Valeria Bednarik:

Short term talking 1.2440 area; long term one 1.3100 as mentioned above

Sunday May 16, 2010 11:25 Valeria Bednarik

11:25

[Comment From TimTim: ]

Hi so if JPY is getting stronger than EURJPY may go down more

Sunday May 16, 2010 11:25 Tim

11:27

Valeria Bednarik:

sorry, have some delay here. Yes pair has started the week under 115.50 zone, and heading lower; quoting at 114.20, we have support for next hours at 114,00 113.60 and 112.90 area, while resistances lie for the next hours at 114.80, and mentioend 115.50

Sunday May 16, 2010 11:27 Valeria Bednarik

11:27

[Comment From toerniptoernip: ]

what's your thought about Eur/JPY for this day and week? ....thanks

Sunday May 16, 2010 11:27 toernip

11:29

Valeria Bednarik:

Regarding the weekly perspective, and as comment above, euro could have be approaching to a bottom, due to extreme readings in bigger time frames, thus bullish movements likley to remain corrective; same goes for this pair we are heading to 110 area, with probable upside corrective movements in teh midle, that should remain capped under 116.80/117.00 to keep the bearish trend valid.

Sunday May 16, 2010 11:29 Valeria Bednarik

11:29

[Comment From nagallanagalla: ]

aud/usd will reach 0.9130 if euro bottom out at current levels....kindly mention supports and resi near term...

Sunday May 16, 2010 11:29 nagalla

11:31

Valeria Bednarik:

As comment above, -i see the pair more bearish at this point, after RBA signal a pause in cash rate hikes. If we lose that 0.87 area, chances are of further downside extension, and pair resistances come at 0.8900, 0.8940, 08990 and 0.9020/30 area for the next hours, but it would take a daily close above 0.8940 at least to see an attempt to rise; only above 0.9020 recovery could extend that far. I can't see it at this point, yet that does not means is imposible to happen.

Sunday May 16, 2010 11:31 Valeria Bednarik

11:32

[Comment From nagallanagalla: ]

gbp/usd......rejected at 1.5500 strongly recently.......where u see suppots and resi ..

Sunday May 16, 2010 11:32 nagalla

11:34

Valeria Bednarik:

Well this month low around 1.4475, is kel as under it there is no much in the midle til 1.4365 area, followed by 1.4230 zone; pair has not been driven by news lately, but by risk sentiment, and will likley continue to do so: immediate resistances come at 1.4580 1.4630 and 1.4720 zone.

Sunday May 16, 2010 11:34 Valeria Bednarik

11:34

Valeria Bednarik:

Only above this last, pair could try to regain past bullish trend;

Sunday May 16, 2010 11:34 Valeria Bednarik

11:34

[Comment From GuestGuest: ]

what about aud

Sunday May 16, 2010 11:34 Guest

11:35

Valeria Bednarik:

Commented already, please take a look above. Tks!

Sunday May 16, 2010 11:35 Valeria Bednarik

11:35

[Comment From samirsamir: ]

also i,m looking at the gbp

Sunday May 16, 2010 11:35 samir

11:36

Valeria Bednarik:

Well one thing to add to pound is that 1.4720area has been a strong base for the pair for most of past April, and that's why only a strong movement above is requiered to see the pair changing current bearish trend.

Sunday May 16, 2010 11:36 Valeria Bednarik

11:36

[Comment From ChandruChandru: ]

Hi, could you kindly comment on USD/CHF

Sunday May 16, 2010 11:36 Chandru

11:39

Valeria Bednarik:

Despite past weeks strong bullish rally, and current overbought conditions, pair could extend the movement to 1.1450 zone, that for me is another mi term inflexion point: Shoul dmade the pair retreat at least at a first attempt, or at least halt curent bullish rally if reached; downside movements could be consider corrective as long as the pair remains above 1.1100; short temr supports are at 1.1300, 1.1240 1.1190, while resistances for next hours are at 1.1345 1,1290 and mentioned 1.1450 zone.

Sunday May 16, 2010 11:39 Valeria Bednarik

11:39

[Comment From nagallanagalla: ]

eur/gbp will fall further or takes supports at 0.8430 levels...tks

Sunday May 16, 2010 11:39 nagalla

11:41

Valeria Bednarik:

As for what I see right now, euro weakness i snot over, so in general euro crosses had a bearish perspective. Pair has broke to the downside a weekly symetrical triangle that suggest a bearish continuation in the pair under that 0.8430 support;

Sunday May 16, 2010 11:41 Valeria Bednarik

11:42

Valeria Bednarik:

0.8400 and 0.8330 are next supports in line for the pair, while resistances from current level are at 0.8450 and 0.8620

Sunday May 16, 2010 11:42 Valeria Bednarik

11:42

[Comment From piphawkpiphawk: ]

wuth Asian markets heading downthis session jyp pairs should favor up side or down side..

Sunday May 16, 2010 11:42 piphawk

11:42

Valeria Bednarik:

Nothing is a 100% rule in the forex market, thus that should favor yen crosses to the downside in general.

Sunday May 16, 2010 11:42 Valeria Bednarik

11:44

Valeria Bednarik:

Anyway, as comment above, market is heading for a quiet session ahead; let's see ig it manages to stay so, after Nikkei opening in about 1 hour.

Sunday May 16, 2010 11:44 Valeria Bednarik

11:45

[Comment From YUVRAJYUVRAJ: ]

i am long euro/usd @ 1.244 at what level should i book profit/loss

Sunday May 16, 2010 11:45 YUVRAJ

11:46

Valeria Bednarik:

I do believe that if the pair loses the 1.2300 level, chances are as comment above, of an approach to 1.22 first and 1.20 later;

Sunday May 16, 2010 11:46 Valeria Bednarik

11:47

[Comment From nagallanagalla: ]

which indicators will u use in general to find out the trend....can u plz mention it val....

Sunday May 16, 2010 11:47 nagalla

11:48

Valeria Bednarik:

Hi Nagalla, yes of course 20 SMA is my main, and i use ADX, momentum as trend indicators, and RSI and CCI as filters, that will depend on the pair traded: euro momentum and RSI but for pound y replace RSi with CCI to try to detect cycles there.

Sunday May 16, 2010 11:48 Valeria Bednarik

11:48

FXstreet.com:

Sorry we are short of time today, we are about to wrap up the session. Thank you Valeria for the great market view!... and everyone who joined the session today. I have had a great time with you.

Sunday May 16, 2010 11:48 FXstreet.com

11:48

FXstreet.com:

Valeria, please give a final word for everyone.

Sunday May 16, 2010 11:48 FXstreet.com

11:49

Valeria Bednarik:

Ok guys, that's it for today, As always my pelasure to be here with Fxstreet.com and you all! As i always said, trade what you see, not what you believe and never forget to protect your capital with stop losses! Have a great trading day, and see you tomorrow!

Sunday May 16, 2010 11:49 Valeria Bednarik

11:50

FXstreet.com:

Alright everyone, Thanks you for coming today! I hope to see you all in the next live coverage. Have a nice trading day

Sunday May 16, 2010 11:50 FXstreet.com

11:50

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Sunday May 16, 2010 11:50 FXstreet.com

11:50

FXstreet.com:

Sunday May 16, 2010 11:50 FXstreet.com

11:54

Posted by FXstreet Team in Fundamental Analysis, Market Viewpoint & Live Commentary, Open Discussion | Permalink | Comments (0)

05/10/2010

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Posted by FXstreet Team in Market Viewpoint & Live Commentary, Open Discussion, Technical Analysis, Trading Strategies & Ideas | Permalink | Comments (0)

BoE Live Coverage

BoE Interest Rate Decision with Valeria Bednarik

(05/10/2010)

11:45

FXstreet.com:

Good morning, good afternoon and good evening to everyone all over the world. Today's BoE Interest Rates Decisions Live Coverage will start shortly. I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture fo the market status.

Monday May 10, 2010 11:45 FXstreet.com

11:45

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Monday May 10, 2010 11:45 FXstreet.com

11:45

FXstreet.com:

Monday May 10, 2010 11:45 FXstreet.com

11:46

FXstreet.com:

Monday May 10, 2010 11:46 FXstreet.com

11:46

FXstreet.com:

She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word.

Monday May 10, 2010 11:46 FXstreet.com

11:47

FXstreet.com:

Hello Valeria! Welcome back to the live coverage.

Monday May 10, 2010 11:47 FXstreet.com

11:47

Valeria Bednarik:

Hi Everyone, and welcome to this Live Coverage!

Monday May 10, 2010 11:47 Valeria Bednarik

11:49

Valeria Bednarik:

Witl all what has been going on in markets these days, seems BOE decision it's being a bit dulled at the time. Really I would expect this to be a non event, unless some surprises coming from BOE

Monday May 10, 2010 11:49 Valeria Bednarik

11:49

[Comment From GuestGuest: ]

Hi Valeria... Bullish for the GBP ?

Monday May 10, 2010 11:49 Guest

11:49

Monday May 10, 2010 11:49

11:50

Valeria Bednarik:

Well take a look at the daily chart: as we talk yesterday, pair has started the week with strong signs of reversal havin bottomed at that 1.4470 area.

Monday May 10, 2010 11:50 Valeria Bednarik

11:50

Monday May 10, 2010 11:50

11:51

Valeria Bednarik:

Short term, pair is still bullish, as you can see in this 4 hours charts; however the long rally needs some downside corrections before a new strong leg to the upside. I see a strong resistance level at 1.5020 as first barrier; if above 1.5060, comes next ahead of 1.5100.

Monday May 10, 2010 11:51 Valeria Bednarik

11:52

Valeria Bednarik:

supports for next hours come at 1.4960, and 1.4920 area.

Monday May 10, 2010 11:52 Valeria Bednarik

11:52

[Comment From GuestGuest: ]

EURUSD keeps going down?

Monday May 10, 2010 11:52 Guest

11:52

Monday May 10, 2010 11:52

11:53

Valeria Bednarik:

Euro has reached the 1.3100 level I have been following since long: pullback to the ascendant trend line broken past week is complete. This is a weekly chart, tren dile comes from Feb 2002 lows.

Monday May 10, 2010 11:53 Valeria Bednarik

11:54

Valeria Bednarik:

I believe market euphoria has been excesive, and despite the facilities announced, Europe is not going ot recover in a day or two: we need to see unemployment decreasing, production increasing, to call for a real recovery.. this is just a bailout for a crisis.

Monday May 10, 2010 11:54 Valeria Bednarik

11:55

Valeria Bednarik:

Pair has supports at 1.2970 and 1.2920 area, ahead of 1.2880 zone. To the upside 1.3015, 1.3050 and 1.3100 are resistances for next hours.

Monday May 10, 2010 11:55 Valeria Bednarik

11:55

Monday May 10, 2010 11:55

11:56

Valeria Bednarik:

Pair is back unde rthe 61.8% retracement of past daily fall, so yes, chances are to the downsid as long as under 1.3015.

Monday May 10, 2010 11:56 Valeria Bednarik

11:56

[Comment From GuestGuest: ]

what do you expect for BoE decision? not much impact on the markets?

Monday May 10, 2010 11:56 Guest

11:57

Valeria Bednarik:

yes, unless they made a surprise announcememnt regarding cutting or raising rates, or extending QE, seems we are not going to have any strong reaction from this particular news.

Monday May 10, 2010 11:57 Valeria Bednarik

11:57

[Comment From GuestGuest: ]

USDCHF keeps going up?

Monday May 10, 2010 11:57 Guest

11:58

Monday May 10, 2010 11:58

11:59

Valeria Bednarik:

Pair bearish momentum is not completely over yet. 4 hours indicators remain bearish, thus 1 hour ones are giving first signs of exhaustion to the downside. Pair needs to regain and consolidate above 1.1000, to turn intraday bullish, with next resistances at 1.1040 and 1.1090 area. 1.0940 is first support: under it, pair could test 1.0900 ahead of stronger 1.0850 zone

Monday May 10, 2010 11:59 Valeria Bednarik

11:59

[Comment From GuestGuest: ]

will there still be a bearish outlook on the gbp/usd if the reate remains unchanged?

Monday May 10, 2010 11:59 Guest

12:00

Valeria Bednarik:

I don't see pound bearish at this point, but on contrary, bullish; downside movements are seen as corrective, as comment above. downside could extend to 1.4900/20 I don't see much more today for that pair.

Monday May 10, 2010 12:00 Valeria Bednarik

12:00

[Comment From GuestGuest: ]

which party will get power in uk

Monday May 10, 2010 12:00 Guest

12:00

FXstreet.com:

BoE has decided to hold the bench mark rates unchanged at 0.50%

Monday May 10, 2010 12:00 FXstreet.com

12:01

Valeria Bednarik:

After elections, no party was able to made the 9 points difference necesary to have the majority.

Monday May 10, 2010 12:01 Valeria Bednarik

12:01

Valeria Bednarik:

Cameron win elections, thus they are talking about coalitions to made things together in behalf of the UK.

Monday May 10, 2010 12:01 Valeria Bednarik

12:02

Valeria Bednarik:

ok NO CHANGES in rates, no changes in QE as far as I can see, pair has barely react to news.

Monday May 10, 2010 12:02 Valeria Bednarik

12:02

[Comment From rezrez: ]

hello valeria regarding what you said last night about eurjpy which was right,what is your analysis on eurjpy now?thanks

Monday May 10, 2010 12:02 rez

12:05

Valeria Bednarik:

pair has regained the 120 area strongly, and completely erased all past week loses; now quoting around 121.15, pair remains slightly bullish, thus we could see some downside corrections after such huge rally. key support lies at 120.60 area, and under it 120.00. Pair needs to regain 121.70 to accelerate again with 122.30 and 123.00 as next resistances levels.

Monday May 10, 2010 12:05 Valeria Bednarik

12:06

Monday May 10, 2010 12:06

12:07

Valeria Bednarik:

USD/JPY has also erased past Thursday loses, and is back above 93.00, having accelerate on stocks strong recovery. We have an immediate resistance area there at past April strong resistance area of 93.75, followed by 94.10 and 94.40 for today, with a bullish perspective ahead.

Monday May 10, 2010 12:07 Valeria Bednarik

12:07

[Comment From GuestGuest: ]

Any comments on USDJPY?

Monday May 10, 2010 12:07 Guest

12:07

Valeria Bednarik:

Supports, are located at 93.10, 92.80 and 92.50 area.

Monday May 10, 2010 12:07 Valeria Bednarik

12:07

[Comment From GuestGuest: ]

Hello Valeria, Will u coment on gold.Does it move to 1226?Thanks

Monday May 10, 2010 12:07 Guest

12:10

Valeria Bednarik:

Gold remains bullish, no question about that, holding above 1182 strong support level. Resistances for gold come at 1196, 1200 and 1212, and eventualy yes, the historical high. Supports are now at 1180, 1182 and 1176

Monday May 10, 2010 12:10 Valeria Bednarik

12:10

[Comment From aijazaijaz: ]

do you see euro usd trading below 1.20 in the later part of this year

Monday May 10, 2010 12:10 aijaz

12:12

Valeria Bednarik:

No i don't. Long term talking, current movement to 1.31 could be a pullback as mentioned at the beginning of this live coverage, yet now we need to break the 1.2500 to confirm the long term bearish trend.

Monday May 10, 2010 12:12 Valeria Bednarik

12:12

[Comment From lienlien: ]

hi, where is the next supporting line for cad/usd

Monday May 10, 2010 12:12 lien

12:12

Monday May 10, 2010 12:12

12:13

Valeria Bednarik:

Cad is heading to the 1.0200 level, still bearish despite slightly exhausted according to this 4 hours chart indocators. If that are agives up, next in line are 1.0165 and 1.0130 area. Resistances are at 1.0250 and 1.0290

Monday May 10, 2010 12:13 Valeria Bednarik

12:13

[Comment From torysenatorysena: ]

Valeria I believe pound will recover to the 1.62 levels within a month do you agree?

Monday May 10, 2010 12:13 torysena

12:15

Valeria Bednarik:

I don't see such value in Pound yet, thus as comment above, 1.4475 could be consider as a strong bottom in the daily chart. I believe we have too much turmoin in this market these weeks, to dare a long term target either way. Pair now needs first to overcome 1.5330 strong mid term resistance area, to talk about a probable rally to 1.5700, that seems quite fair away right now.

Monday May 10, 2010 12:15 Valeria Bednarik

12:15

[Comment From yuvrajyuvraj: ]

what about s&p

Monday May 10, 2010 12:15 yuvraj

12:17

Valeria Bednarik:

As comment above, US futures are strongly up, almost at past Wednesday closing levels, erasing all the slump. I follow charts to measure market sentiment but sorry, I don't trade indexes..

Monday May 10, 2010 12:17 Valeria Bednarik

12:17

[Comment From lenalena: ]

USDCAD - will it try to reach parity again?

Monday May 10, 2010 12:17 lena

12:18

Valeria Bednarik:

I think that if we lose that 1.0165 support, and oil manages to regain the $ 80/barrel, there is a good chance yes.

Monday May 10, 2010 12:18 Valeria Bednarik

12:18

[Comment From rezrez: ]

stocks always follow bond market does always usd follow them too ?thanks

Monday May 10, 2010 12:18 rez

12:19

Valeria Bednarik:

Well that's a good question, and the answer is NO despite we are seing high correlations since early 2009 in stocks and dollar, nothing is an "always" in forex market. Remember that.

Monday May 10, 2010 12:19 Valeria Bednarik

12:19

[Comment From IyasIyas: ]

What about euro?

Monday May 10, 2010 12:19 Iyas

12:20

Valeria Bednarik:

As comment above, pair has completed a pullback to 1.3100 broken trend line. now around 1.3000, it has first resistance area at 1.3115, 61.8% retracement of past daily fall; if we remain under it, chances are to the downside with 1.2970 and 1.2920 as immediate supports.

Monday May 10, 2010 12:20 Valeria Bednarik

12:20

[Comment From ceasarceasar: ]

Hi Val, ready the outlook for Eur/Usd and your input...looking into the extreme mkt scenario last week..should one take position at current lvls..1.3000 and if so what direction ?

Monday May 10, 2010 12:20 ceasar

12:22

Valeria Bednarik:

Hi Ceasar, as comment above, intraday pair has a bullish tone, despite longer term bearish show the 1.3100 was a pullback/ correction to the broken line. At this point, I will be waiting for a break under 1.2970 or an acceleration above 1.3020/30 to take a short term position; long term will be more clear at the end of the day, more likley tomorrow, as Monday's lately had been quite choppy.

Monday May 10, 2010 12:22 Valeria Bednarik

12:23

[Comment From PaulPaul: ]

it it worth daytrading the GBP or is it a gamble given the UK election issues

Monday May 10, 2010 12:23 Paul

12:24

Valeria Bednarik:

woes are always here, with some day's more riskier than others. I do believe that with the rigth MM we can trade any pair intraday talking.

Monday May 10, 2010 12:24 Valeria Bednarik

12:24

[Comment From GuestGuest: ]

how abt kiwi, what are the technical level for today

Monday May 10, 2010 12:24 Guest

12:27

Valeria Bednarik:

Losing steam, pair has retreated form 0.7270 strong resistance level, right now. next resistance above that come at 0.7310 while 0.7240 seems to be first strong support: under it next come at 0.7200 area.

Monday May 10, 2010 12:27 Valeria Bednarik

12:27

[Comment From deandean: ]

how about EU long term? is it still bearish?

Monday May 10, 2010 12:27 dean

12:29

Valeria Bednarik:

As I comment above, i see the movement to 1.3100 as a corrective pullback; for me general trend remains bearish yes, as long as under that zone.

Monday May 10, 2010 12:29 Valeria Bednarik

12:30

Valeria Bednarik:

we need now to break the 1.2970 support to see more intraday falls.

Monday May 10, 2010 12:30 Valeria Bednarik

12:30

Valeria Bednarik:

targeting the 1.2920 area first. As comment above, if we regain the 1.3115 area, then pair could extend the upside, to the 1.3140/60 level

Monday May 10, 2010 12:30 Valeria Bednarik

12:31

[Comment From GuestGuest: ]

Re.kiwi...with rate decision coming ...do you see it break the ascending channel anytime soon

Monday May 10, 2010 12:31 Guest

12:32

Monday May 10, 2010 12:32

12:32

Valeria Bednarik:

PAir has bene strugling yes, with the top of an ascendant channel for long, clear in the weekly chart.

Monday May 10, 2010 12:32 Valeria Bednarik

12:33

Valeria Bednarik:

sorry! that's not the chart. but we really need to accelerate trough the highs of 0.7330 to confirm further gains; anyway, I do hold a bullish perspective in the pair, mostly due to it's high commercial relationship with australia.

Monday May 10, 2010 12:33 Valeria Bednarik

12:34

Valeria Bednarik:

As long as Australina recovery keeps going on, chances also favor Kiwi

Monday May 10, 2010 12:34 Valeria Bednarik

12:34

[Comment From GuestGuest: ]

Will UK election brings the pound down again to 1.44 level

Monday May 10, 2010 12:34 Guest

12:35

Valeria Bednarik:

I don't see that level anytime soon my friend; as comment above, daily chart show an interesting reversal candle marking that 1.4475 level as a midterm bottom for the pair.

Monday May 10, 2010 12:35 Valeria Bednarik

12:36

Valeria Bednarik:

We are now struggling with the 1.5020 zone, heading to 1.5060 probably if pair manages to stay around current 1.5000 zone.

Monday May 10, 2010 12:36 Valeria Bednarik

12:37

Valeria Bednarik:

as comment above, seems the rate decision has been a non event for pound.

Monday May 10, 2010 12:37 Valeria Bednarik

12:38

Valeria Bednarik:

Market is moving mostly on general optimism that will lilley extend after Wall Street opening.

Monday May 10, 2010 12:38 Valeria Bednarik

12:38

[Comment From GuestGuest: ]

What about EUR/JPY?

Monday May 10, 2010 12:38 Guest

12:39

FXstreet.com:

We have just 10 mnutes left. If you have any questions related to the Forex market, please do not hesitate to ask Valeria.

Monday May 10, 2010 12:39 FXstreet.com

12:39

Valeria Bednarik:

As comment above, pair has regained the 120 area strongly, and completely erased all past week loses; now quoting around 121.15, pair remains slightly bullish, thus we could see some downside corrections after such huge rally. key support lies at 120.60 area, and under it 120.00. Pair needs to regain 121.70 to accelerate again with 122.30 and 123.00 as next resistances

Monday May 10, 2010 12:39 Valeria Bednarik

12:40

Valeria Bednarik:

in general, I hold a bullish perpsective for all JPY crosses, mostly due to Japan economic policy needs, the deflation in the country that lead to lawmakers ask for a devaluation of the currency.

Monday May 10, 2010 12:40 Valeria Bednarik

12:41

Valeria Bednarik:

Pair has also already erased the 1000 pips slump, and I would expect some short lived corrections before a new leg up

Monday May 10, 2010 12:41 Valeria Bednarik

12:41

[Comment From GuestGuest: ]

thanks Val for yr view re. kiwi

Monday May 10, 2010 12:41 Guest

12:41

[Comment From GuestGuest: ]

what should I expect at eur/usd?

Monday May 10, 2010 12:41 Guest

12:42

Valeria Bednarik:

I'm expecting furhter intraday falls from current level, probably approaching to 1.2920 area. as comment above, 1.3100 seems to be a strong midterm resistance area, and pair won't be able to easily overcome it.

Monday May 10, 2010 12:42 Valeria Bednarik

12:42

[Comment From sunnysunny: ]

val your e-mail pls

Monday May 10, 2010 12:42 sunny

12:42

Valeria Bednarik:

valbednarik@gmail.com

Monday May 10, 2010 12:42 Valeria Bednarik

12:44

[Comment From GuestGuest: ]

thank you for your answer

Monday May 10, 2010 12:44 Guest

12:45

[Comment From GuestGuest: ]

AUDUSD bullish?

Monday May 10, 2010 12:45 Guest

12:46

Valeria Bednarik:

AUD is yes, back on track havving recovered the 0.9000 level, with a general bullish tone coming b from both 4 hs and daily chart. watch for an acceleration above 0.9070 to confirm a continuation to 0.9120 first and 0.9160 area later.supports now come at 0.9020 and .8980 zone.

Monday May 10, 2010 12:46 Valeria Bednarik

12:46

[Comment From rezrez: ]

if cameron comes up in the next couple of days do we see any changes in GU?

Monday May 10, 2010 12:46 rez

12:49

Valeria Bednarik:

Good question!. I do believe that with this return of tories, some fresh air will come to the UK. I do believe that the UK won't let things get out of their hands as Euro zone has just did, and they will be a bit more wise: probably form a coalition; UK reading of GDP, and inflation had been lately quite positive, favoring mostly the upside in the pair. I won't expect Cameron to interrupt the recovery UK is showing.

Monday May 10, 2010 12:49 Valeria Bednarik

12:50

FXstreet.com:

Sorry we are short of time today, I have to wrap up the session.

Monday May 10, 2010 12:50 FXstreet.com

12:50

Valeria Bednarik:

Ok guys, seems that's it for today; as we talk earlier, with no surprises coming from BOE, news had passed without affecting market and trend. Be aware of lack of volume, triggering high volatile movements these days, and as I always told you, never forget to protect your trades. Have a great trading day!

Monday May 10, 2010 12:50 Valeria Bednarik

12:50

FXstreet.com:

Thank you Valeria for the great market view!... and every one who has joined the session today. I have had a great time with you.

Monday May 10, 2010 12:50 FXstreet.com

12:51

Valeria Bednarik:

Tks you all for being here, hope to see you back soon!

Monday May 10, 2010 12:51 Valeria Bednarik

12:52

[Comment From ErnestErnest: ]

Thanks a lot for the highlight Valeria

Monday May 10, 2010 12:52 Ernest

12:52

[Comment From GuestGuest: ]

Thank you Valeria! You are great!!!!

Monday May 10, 2010 12:52 Guest

12:52

FXstreet.com:

Alright evey one,, Thank you for coming today! I hope to see you all in the next live coverage. Have a nice trading day!

Monday May 10, 2010 12:52 FXstreet.com

12:52

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Monday May 10, 2010 12:52 FXstreet.com

12:52

FXstreet.com:

Monday May 10, 2010 12:52 FXstreet.com

12:53

Posted by FXstreet Team in Fundamental Analysis, Live Coverage, Market Viewpoint & Live Commentary | Permalink | Comments (0)

Asian Session: Live Market Analysis

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. Sivaraman will review the previous day close levels and calls given in his blog and present expected trading ranges in 4 majors and 2 commodity pairs.

Continue reading "Asian Session: Live Market Analysis " »

Posted by FXstreet Team in Expert Q&A Sessions, Fundamental Analysis, Market Viewpoint & Live Commentary, Open Discussion, Technical Analysis | Permalink | Comments (0)

05/07/2010

Non-Farm Payrolls Release Live Coverage

Non-farm Payrolls Release Live Coverage With Boris Schlossberg

(05/07/2010)

1:13

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Friday May 7, 2010 1:13 FXstreet.com

1:13

FXstreet.com:

Friday May 7, 2010 1:13 FXstreet.com

1:14

FXstreet.com:

Good morning, good afternoon and good evening to everyone all over the world. Today's U.S. NFP Live Coverage is going to start shortly. I am pleased to introduce Boris Schlossberg who is going to take part in this live event today as a co-presenter. He will be giving us a direct picture for the market status.

Friday May 7, 2010 1:14 FXstreet.com

1:14

FXstreet.com:

Boris Schlossberg began his Wall Street trading career more than 20 years ago at Drexel Burhnam Lambert. There, he traded nearly every type of financial product on the market in the U.S., from equities and options to stock index futures and foreign exchange. His innate ability to analyze market information and use it to trade has helped him become an industry-recognized, "go to" trading professional.

Friday May 7, 2010 1:14 FXstreet.com

1:15

FXstreet.com:

These days, whenever the markets move, many organizations turn to Schlossberg for his take on the situation. He is a weekly contributor to CNBC's Squawk Box and a regular commentator for Bloomberg radio and television. His daily currency research is widely quoted by Reuters, Dow Jones and Agence France Presse newswires and appears in numerous newspapers worldwide. Schlossberg has written for publications like SFO magazine, Active Trader and Technical Analysis of Stocks and Commodities. He joined GFT in 2008.

Friday May 7, 2010 1:15 FXstreet.com

1:15

FXstreet.com:

Hi Boris , Thank you for coming to the Live coverage.

Friday May 7, 2010 1:15 FXstreet.com

1:18

Boris:

Hi guys glad to be here

Friday May 7, 2010 1:18 Boris

1:18

[Comment From MukhrizMukhriz: ]

Hello Boris

Friday May 7, 2010 1:18 Mukhriz

1:18

Boris:

Very volatile markets

Friday May 7, 2010 1:18 Boris

1:19

Boris:

I am scrambling a bit today also IO am the worst typist ever so forgive my typos

Friday May 7, 2010 1:19 Boris

1:20

Boris:

NFP are due in 10

Friday May 7, 2010 1:20 Boris

1:20

Boris:

The market is looking for 180K

Friday May 7, 2010 1:20 Boris

1:20

Boris:

we think it may be lighter

Friday May 7, 2010 1:20 Boris

1:21

Boris:

becuase service sector ISM employment actuality went down

Friday May 7, 2010 1:21 Boris

1:21

Boris:

BUT nothing may matter today

Friday May 7, 2010 1:21 Boris

1:22

Boris:

it is all about risk and political uncertainty

Friday May 7, 2010 1:22 Boris

1:24

[Comment From Abhijit KulkarniAbhijit Kulkarni: ]

by technical analysis, we are getting oversold signal for eur/usd pair, what will be the effect if non-farm payrool +ve for US?

Friday May 7, 2010 1:24 Abhijit Kulkarni

1:24

Boris:

anyway if the number is less than 100K usdjpy could go to 91.50

Friday May 7, 2010 1:24 Boris

1:25

Boris:

We are VERY oversold euro and anything positive risk could take it to 1.2850 on short covering

Friday May 7, 2010 1:25 Boris

1:25

[Comment From WimWim: ]

Hi Boris, you think both euro and gbp will heading down again?

Friday May 7, 2010 1:25 Wim

1:26

Boris:

Yes I think GBP is still vulnerable

Friday May 7, 2010 1:26 Boris

1:26

Boris:

Teh situation in UK if NOT resolved by week-end could push GBP to 1.45

Friday May 7, 2010 1:26 Boris

1:27

[Comment From mikkemikke: ]

Hi, how about gold?

Friday May 7, 2010 1:27 mikke

1:27

Boris:

I like gold

Friday May 7, 2010 1:27 Boris

1:27

Boris:

Long term I believe its a buy as soverign debt worries spread

Friday May 7, 2010 1:27 Boris

1:28

Boris:

K lets see how this prints

Friday May 7, 2010 1:28 Boris

1:28

FXstreet.com:

NPF report preview: April change in Non-farm payrolls and change in manufacturing payrolls due at 08:30ET (12:30 GMT)- Change in Non-farm Payroll: +180K expected versus +162K prior (range of estimates are from +75K to +300K).

Friday May 7, 2010 1:28 FXstreet.com

1:29

FXstreet.com:

1 minute left

Friday May 7, 2010 1:29 FXstreet.com

1:30

Boris:

better

Friday May 7, 2010 1:30 Boris

1:30

FXstreet.com:

NFPs 290K

Friday May 7, 2010 1:30 FXstreet.com

1:30

Boris:

290K

Friday May 7, 2010 1:30 Boris

1:31

Boris:

Good number

Friday May 7, 2010 1:31 Boris

1:31

FXstreet.com:

US unemployment rates 9.9%

Friday May 7, 2010 1:31 FXstreet.com

1:31

Boris:

but unemployment rate a bit negative

Friday May 7, 2010 1:31 Boris

1:31

Boris:

Still Shoudl be good for usd/jpy

Friday May 7, 2010 1:31 Boris

1:31

FXstreet.com:

NFP: + 290K , UNEMPLOYMENT RATE: 9.9% vs 9.7% Forecast

Friday May 7, 2010 1:31 FXstreet.com

1:32

Boris:

all prior data revised upward

Friday May 7, 2010 1:32 Boris

1:32

Boris:

This is a nice offset to Greece and could help stabilize marktes

Friday May 7, 2010 1:32 Boris

1:33

Boris:

93.00 level is key

Friday May 7, 2010 1:33 Boris

1:33

Boris:

if they take it out we can see 93.50

Friday May 7, 2010 1:33 Boris

1:34

Boris:

these marktes are very volatile

Friday May 7, 2010 1:34 Boris

1:34

Boris:

and you need to see sustained rise in usdjpy to get confident

Friday May 7, 2010 1:34 Boris

1:34

Boris:

the first move is usually the fake move

Friday May 7, 2010 1:34 Boris

1:35

Boris:

the key question is whether stocks rally today

Friday May 7, 2010 1:35 Boris

1:35

Boris:

that will detremine teh yen trade

Friday May 7, 2010 1:35 Boris

1:35

Boris:

right now they are selling the news

Friday May 7, 2010 1:35 Boris

1:36

Boris:

which is why you never want to jump on the news right away

Friday May 7, 2010 1:36 Boris

1:36

Boris:

you want the trade to take you in that why I was saying 93.00 key

Friday May 7, 2010 1:36 Boris

1:37

Boris:

but now they are interpreting it as negative

Friday May 7, 2010 1:37 Boris

1:37

Boris:

becuase of high unemploymnet and hourly wages

Friday May 7, 2010 1:37 Boris

1:37

Boris:

still I think this is bullish risk

Friday May 7, 2010 1:37 Boris

1:37

Boris:

and if we stabilize in the morning

Friday May 7, 2010 1:37 Boris

1:38

Boris:

we could see a rally in yen

Friday May 7, 2010 1:38 Boris

1:38

Boris:

the other interesting trade is eurjpy

Friday May 7, 2010 1:38 Boris

1:39

Boris:

Germans passed the bailout deal

Friday May 7, 2010 1:39 Boris

1:39

Boris:

and both US and Canada jobs improved

Friday May 7, 2010 1:39 Boris

1:40

Boris:

so you have to keep an eye there for break

Friday May 7, 2010 1:40 Boris

1:40

Boris:

above 117.50

Friday May 7, 2010 1:40 Boris

1:41

Boris:

right now still teh european woes dominate

Friday May 7, 2010 1:41 Boris

1:41

Boris:

but as someone said we are oversold in euro

Friday May 7, 2010 1:41 Boris

1:41

Boris:

and risk

Friday May 7, 2010 1:41 Boris

1:41

Boris:

now are starting to rally

Friday May 7, 2010 1:41 Boris

1:42

Boris:

the key here is if teh shorts gets spooked

Friday May 7, 2010 1:42 Boris

1:42

Boris:

we will verticalize

Friday May 7, 2010 1:42 Boris

1:42

Boris:

eurjpy now above 11750

Friday May 7, 2010 1:42 Boris

1:43

Boris:

lets see if it runs to 118

Friday May 7, 2010 1:43 Boris

1:43

Boris:

a lot of two way action

Friday May 7, 2010 1:43 Boris

1:43

Boris:

real battle

Friday May 7, 2010 1:43 Boris

1:44

Boris:

ok while we watch eurjpy

Friday May 7, 2010 1:44 Boris

1:44

Boris:

lets take a few more questions

Friday May 7, 2010 1:44 Boris

1:44

[Comment From DarrenDarren: ]

what effect on Eur and CHF please

Friday May 7, 2010 1:44 Darren

1:45

[Comment From lukeluke: ]

normally good news from USA means EUR/USD going down, so what is going on now ?

Friday May 7, 2010 1:45 luke

1:45

Boris:

swisse is the SAFE haven play in the market

Friday May 7, 2010 1:45 Boris

1:46

Boris:

SNB will not intervene probably until we get to 1.35

Friday May 7, 2010 1:46 Boris

1:46

Boris:

so further stress in europe send it lower BUT

Friday May 7, 2010 1:46 Boris

1:46

Boris:

very oversold and any relief rally in euro will take it higher in the short term

Friday May 7, 2010 1:46 Boris

1:47

Boris:

so we could see 1.42 bounce at least

Friday May 7, 2010 1:47 Boris

1:47

Boris:

Luke: actually no

Friday May 7, 2010 1:47 Boris

1:47

Boris:

Good eco news for US is good for USDJPY but euro trades on risk

Friday May 7, 2010 1:47 Boris

1:48

Boris:

so if US data is good that means expansion

Friday May 7, 2010 1:48 Boris

1:48

Boris:

and that is generally good for euro

Friday May 7, 2010 1:48 Boris

1:48

Boris:

eurjppy now at 11797

Friday May 7, 2010 1:48 Boris

1:48

Boris:

Friday May 7, 2010 1:48 Boris

1:49

Boris:

that why you want to wait for momo

Friday May 7, 2010 1:49 Boris

1:49

Boris:

let the market prove you right

Friday May 7, 2010 1:49 Boris

1:50

[Comment From JimmyJimmy: ]

What do you foresee is the worst-case scenario for EUR and GBP...? How low can they get against USD?

Friday May 7, 2010 1:50 Jimmy

1:50

[Comment From rezrez: ]

what would be the best pair to trade today?

Friday May 7, 2010 1:50 rez

1:50

Boris:

Euro can go to 1.200 if EZ really hit problems

Friday May 7, 2010 1:50 Boris

1:50

Boris:

Cable can hit 1.35

Friday May 7, 2010 1:50 Boris

1:51

[Comment From ArianArian: ]

What is your primary source in time of news? CNBC? ...

Friday May 7, 2010 1:51 Arian

1:51

[Comment From GGGG: ]

U think GBP is worst than EUR ? or not -- and how would u trade EURGBP ?

Friday May 7, 2010 1:51 GG

1:51

Boris:

I use the FREE Dow Jones news feed from GFT Dealbook which is lightening fast

Friday May 7, 2010 1:51 Boris

1:52

Boris:

I think cable has more risk NOW is the PArliament is hung

Friday May 7, 2010 1:52 Boris

1:52

Boris:

If they come up with a government by Sunday there will be a bounce

Friday May 7, 2010 1:52 Boris

1:53

Boris:

btw still a lot of doubt in the market as you can see

Friday May 7, 2010 1:53 Boris

1:53

[Comment From ronron: ]

how abt aussie and kiwi, how low can they go

Friday May 7, 2010 1:53 ron

1:54

Boris:

All depends on China

Friday May 7, 2010 1:54 Boris

1:54

[Comment From cindycindy: ]

after yesterday wild move on cad$..what do you expect today after the good #s,pls

Friday May 7, 2010 1:54 cindy

1:54

Boris:

So far those economies are blazing

Friday May 7, 2010 1:54 Boris

1:54

Boris:

but next moths data will be key

Friday May 7, 2010 1:54 Boris

1:54

Boris:

if we see a slowdown

Friday May 7, 2010 1:54 Boris

1:55

Boris:

aud will be hurt because basically its a china play

Friday May 7, 2010 1:55 Boris

1:55

Boris:

HOWEVER is this is a one day wonder

Friday May 7, 2010 1:55 Boris

1:55

Boris:

Markets settle down

Friday May 7, 2010 1:55 Boris

1:55

Boris:

and Europe fixes teh financing issues for 6 months or so

Friday May 7, 2010 1:55 Boris

1:55

Boris:

then Aussie has a good chance to bounce

Friday May 7, 2010 1:55 Boris

1:56

Boris:

we are coming into diffcult times seasonally

Friday May 7, 2010 1:56 Boris

1:56

Boris:

market generally stall in the summer

Friday May 7, 2010 1:56 Boris

1:56

Boris:

and risk aversion still seems like a dominant theme for now

Friday May 7, 2010 1:56 Boris

1:57

Boris:

as to CAD I like it

Friday May 7, 2010 1:57 Boris

1:57

Boris:

on the crosses esp against aussie

Friday May 7, 2010 1:57 Boris

1:57

Boris:

if china slows and US picks up that really favors a short AUDCAD play

Friday May 7, 2010 1:57 Boris

1:58

[Comment From TehsinTehsin: ]

what do you think about Eur for the next week?

Friday May 7, 2010 1:58 Tehsin

1:58

[Comment From GGGG: ]

Is AUDJPY carry trade over ?

Friday May 7, 2010 1:58 GG

1:59

Boris:

I think that we could get a relief rally if Europeans pass teh bailout bill

Friday May 7, 2010 1:59 Boris

1:59

Boris:

But euro trades on CREDIT SPREADS

Friday May 7, 2010 1:59 Boris

1:59

Boris:

that all that matters until PIIG spreads compress

Friday May 7, 2010 1:59 Boris

1:59

Boris:

euro cannot rally

Friday May 7, 2010 1:59 Boris

2:00

Boris:

so nothing matters but credit markets until the calm down

Friday May 7, 2010 2:00 Boris

2:00

Boris:

AUD/JPY is VERY VOLATILE trade now and will continue to be trade carefully

Friday May 7, 2010 2:00 Boris

2:01

[Comment From ronron: ]

will dow crash again if EZ situation worsen

Friday May 7, 2010 2:01 ron

2:01

Boris:

Yes

Friday May 7, 2010 2:01 Boris

2:01

Boris:

Lower euro very bad for US companies which are not US companies at all but multinationals

Friday May 7, 2010 2:01 Boris

2:01

Boris:

that means their profits will be very badly hurt

Friday May 7, 2010 2:01 Boris

2:02

Boris:

because their costs will be in dollars and their revenues in euros

Friday May 7, 2010 2:02 Boris

2:02

Boris:

so if we see eur 1.20

Friday May 7, 2010 2:02 Boris

2:02

Boris:

we likely see dow 9500

Friday May 7, 2010 2:02 Boris

2:03

Boris:

Markets still very nervous

Friday May 7, 2010 2:03 Boris

2:03

Boris:

if 117 in eurjpy is given we could see a run to the daily lows again

Friday May 7, 2010 2:03 Boris

2:04

Boris:

BUT I really think that we are staibilizig for at least a day or two

Friday May 7, 2010 2:04 Boris

2:04

Boris:

data is on our side and all the late shorts should get punished

Friday May 7, 2010 2:04 Boris

2:05

Boris:

You should never pick bottoms in teh market and I will change my mind ina heartbeat if we see further weakness

Friday May 7, 2010 2:05 Boris

2:05

Boris:

But looking at trade right now

Friday May 7, 2010 2:05 Boris

2:05

Boris:

it fells like risk wants to rally

Friday May 7, 2010 2:05 Boris

2:06

[Comment From tehteh: ]

the lastest UK economic reports indicated the UK recovery seems on track, can cable rally to 1.5 level again before it hits 1.35?

Friday May 7, 2010 2:06 teh

2:07

Boris:

Yes if they have a government and ESPECIALLY if its Tory led cable could rally to1.50

Friday May 7, 2010 2:07 Boris

2:07

FXstreet.com:

Sorry People we have just 5 minutes left, if you have any questions, do not hesitate to ask Boris.

Friday May 7, 2010 2:07 FXstreet.com

2:07

Boris:

Market hates Labor

Friday May 7, 2010 2:07 Boris

2:08

[Comment From TehsinTehsin: ]

The market will be closed for the weekend.. Do you see a gap in forex prices before the start of trading on monday?

Friday May 7, 2010 2:08 Tehsin

2:08

[Comment From JuliedvJuliedv: ]

what level can we expect in u/yen

Friday May 7, 2010 2:08 Juliedv

2:08

Boris:

yen first

Friday May 7, 2010 2:08 Boris

2:09

Boris:

yen can rally back to 95.00 if we get stabilization

Friday May 7, 2010 2:09 Boris

2:09

Boris:

But if it breaks 90.00 that a bad sign

Friday May 7, 2010 2:09 Boris

2:09

Boris:

and we can see 85.00 as risk fears start to spread

Friday May 7, 2010 2:09 Boris

2:10

Boris:

Yes we can get a GAP on Sunday in cable

Friday May 7, 2010 2:10 Boris

2:10

Boris:

be very carefull

Friday May 7, 2010 2:10 Boris

2:10

Boris:

gaps usually retrace

Friday May 7, 2010 2:10 Boris

2:10

Boris:

so I would not chase

Friday May 7, 2010 2:10 Boris

2:10

Boris:

especially if it was 100+ point gap

Friday May 7, 2010 2:10 Boris

2:11

Boris:

Ok I must run. very busy day today keep an eye on eurjpy

Friday May 7, 2010 2:11 Boris

2:11

Boris:

its holding 117

Friday May 7, 2010 2:11 Boris

2:11

Boris:

a break above 118 is bullish risk

Friday May 7, 2010 2:11 Boris

2:11

Boris:

lets see if it holds

Friday May 7, 2010 2:11 Boris

2:11

Boris:

all the best to you guys

Friday May 7, 2010 2:11 Boris

2:11

FXstreet.com:

Sorry we are short of time today, I have to wrap up the session.

Friday May 7, 2010 2:11 FXstreet.com

2:12

FXstreet.com:

Thank you Boris for the great market view!... and every one who has joined the session today. I have had a great time with you.

Friday May 7, 2010 2:12 FXstreet.com

2:12

FXstreet.com:

Boris please give us a final word.

Friday May 7, 2010 2:12 FXstreet.com

2:14

Boris:

Hi guys I just wanted to tell you to come to the FX street webinar on Monday at 1500 GMT

Friday May 7, 2010 2:14 Boris

2:14

Boris:

I will be giving a webinar on how to trade news reactively

Friday May 7, 2010 2:14 Boris

2:14

Boris:

its is a VERY cool presentation and its FREE

Friday May 7, 2010 2:14 Boris

2:14

Boris:

please attend

Friday May 7, 2010 2:14 Boris

2:15

Boris:

any questions email me at bktrader@gmail.com

Friday May 7, 2010 2:15 Boris

2:15

Boris:

all the best to you

Friday May 7, 2010 2:15 Boris

2:15

FXstreet.com:

Thank you Boris!!! See you on Monday!

Friday May 7, 2010 2:15 FXstreet.com

2:15

Boris:

see you Monday

Friday May 7, 2010 2:15 Boris

2:16

FXstreet.com:

Alright evey one,, Thank you for coming today! I hope to see you all in the next live coverage. Have a nice trading day!
Bye for now!

Friday May 7, 2010 2:16 FXstreet.com

2:17

[Comment From lukeluke: ]

thx Boris!

Friday May 7, 2010 2:17 luke

2:17

[Comment From TehsinTehsin: ]

Thank you Boris and Fx street

Friday May 7, 2010 2:17 Tehsin

2:17

[Comment From hhhh: ]

Friday May 7, 2010 2:17 hh

2:17

[Comment From JuliedvJuliedv: ]

thank you boris

Friday May 7, 2010 2:17 Juliedv

2:17

[Comment From ronron: ]

your explanation has been educational, thank you

Friday May 7, 2010 2:17 ron

2:17

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Friday May 7, 2010 2:17 FXstreet.com

2:17

FXstreet.com:

Friday May 7, 2010 2:17 FXstreet.com

2:17

Posted by FXstreet Team in Fundamental Analysis, Live Coverage, Market Viewpoint & Live Commentary, Open Discussion | Permalink | Comments (0)

05/06/2010

The Law Of Charts Basics, Discussion and live examples

Expert: Marco Mayer, Professional Forex Trader, Editor of Forex at the Market at Trading Educators Inc.
Moderator: Maud Gilson, Conference Manager

Summary:-

Learn how to read and trade any forex chart using the Law Of Charts by Joe Ross. In this session Marco Mayer, who has had extensive personal training by Joe Ross over many years, will introduce you to the Law Of Charts. You will learn how to read any forex chart in any timeframe. After this there will be time for discussion and some live market examples

Continue reading "The Law Of Charts Basics, Discussion and live examples" »

Posted by FXstreet Team in Market Viewpoint & Live Commentary, Open Discussion, Trading Knowledge & Education | Permalink | Comments (2)

ECB Live Coverage

ECB Live Coverage with Valeria Bednarik

(05/06/2010)

12:29

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Thursday May 6, 2010 12:29 FXstreet.com

12:30

FXstreet.com:

Thursday May 6, 2010 12:30 FXstreet.com

12:31

FXstreet.com:

Good morning, good afternoon and good evening to everyone all over the world. The ECB Interest rate decision Live Coverage is going to start shortly. I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status.

Thursday May 6, 2010 12:31 FXstreet.com

12:31

FXstreet.com:

Thursday May 6, 2010 12:31 FXstreet.com

12:31

FXstreet.com:

She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word.

Thursday May 6, 2010 12:31 FXstreet.com

12:32

Valeria Bednarik:

Hi everyone! on the hour! some trouble with the server. We are here to see what will ECB will decide regarding monetary policy. Despite rumors of a rate cut, I expect this to be a non event if rates remain unchanged, but press conference will grab all market attention, as Trichet will be questioned strongly about euro zone sovereign debt issues.

Thursday May 6, 2010 12:32 Valeria Bednarik

12:33

[Comment From yasiryasir: ]

very good after noon to valeria

Thursday May 6, 2010 12:33 yasir

12:33

Valeria Bednarik:

Hi Yasir, and welcome.

Thursday May 6, 2010 12:33 Valeria Bednarik

12:33

[Comment From AmalAmal: ]

Good afternoon Valeria

Thursday May 6, 2010 12:33 Amal

12:33

[Comment From yasiryasir: ]

valeria what u said about euro/usd pls

Thursday May 6, 2010 12:33 yasir

12:33

FXstreet.com:

Hi everyone and Valeria! welcome to the live coverage.

Thursday May 6, 2010 12:33 FXstreet.com

12:34

Valeria Bednarik:

Euro slump seems to have no floor at this point, despite extreme oversold readings in almost any time frame

Thursday May 6, 2010 12:34 Valeria Bednarik

12:34

Thursday May 6, 2010 12:34

12:35

Thursday May 6, 2010 12:35

12:35

Valeria Bednarik:

currently quoting at 1.2760 pair continues falling ahead of rates decision. I do see some support around 1.2735 area, but under that, next one comes at 1.2660/80 area, where we have a weekly ascendant trend line.

Thursday May 6, 2010 12:35 Valeria Bednarik

12:35

[Comment From ahmadahmad: ]

y dont you cover the ECB Press Conference after an hour , it always moves market more than the rate ?

Thursday May 6, 2010 12:35 ahmad

12:36

Valeria Bednarik:

Hi ahmad, I was thinking the same, but today, rumors of a rate cut, took as here earlier. We will consider your suggestion from now on Tks!

Thursday May 6, 2010 12:36 Valeria Bednarik

12:36

[Comment From dagdag: ]

Hi Val, long time no see, hope you are well, uk election tonight will be exciting

Thursday May 6, 2010 12:36 dag

12:37

Valeria Bednarik:

Hi Dag, tks. Yes I do believe that UK parliament elecctions are dulled with current euro situation, yet anyway will be an interesting trade situation, and I will cover it also Live! from here.

Thursday May 6, 2010 12:37 Valeria Bednarik

12:37

[Comment From yasiryasir: ]

so u mean we will see some correction in euro/usd

Thursday May 6, 2010 12:37 yasir

12:39

Valeria Bednarik:

Hi Yasir, extrme readings don't mean a correction don't get me wrong. I have no signs of such yet; as comment above, pair continues reaching lower lows hour after hour. Despite market needs a correction, and we will be seeing one i do believe soon, still is not time. Resistances come at 1.2790 now, and 1.2850 strong area. At this point, I still see upside corrective movements limited, ahead of a renewed selling rally

Thursday May 6, 2010 12:39 Valeria Bednarik

12:40

Valeria Bednarik:

However, I highly recomend you today, to wait for the news, and protect strongly your trades. We are living historical days, don't doubt that.

Thursday May 6, 2010 12:40 Valeria Bednarik

12:40

[Comment From VernVern: ]

Hi Valeria, do you think that the further falls in the EURUSD will impact sterling today, given the election?

Thursday May 6, 2010 12:40 Vern

12:40

Valeria Bednarik:

In a minor way, but yes. Pound will be more limited by elections, but won't be able to resist market sentiment

Thursday May 6, 2010 12:40 Valeria Bednarik

12:41

[Comment From GuestGuest: ]

MY NANE IS RAJU EUR USD TRENDS

Thursday May 6, 2010 12:41 Guest

12:41

Valeria Bednarik:

as comment above, trend is strongly bearish despite overextended. Pair is heading lowe ahead of news, and as comment above, if we lose 1.2735, I would expect further falls today, AFTER news.

Thursday May 6, 2010 12:41 Valeria Bednarik

12:41

[Comment From GuestGuest: ]

sell off is $chf?

Thursday May 6, 2010 12:41 Guest

12:41

[Comment From GuestGuest: ]

Hi Valeria what is going on EURCHF??? sharp falls there.

Thursday May 6, 2010 12:41 Guest

12:44

Valeria Bednarik:

Well EURO is falling sharply against all rivals:EUR/AUD also reached a fresh multi years lows and keep falling. SNB is not yet acting, but if we reach 1.4100, there could be a chance there. It's all euro weakness. Regarding USD/CHF, we are seeing the logical correction pair needed after 3 days straigth winnings. Hobering around 1.1100, supports come at 1.1070 and 1.1040 ahead of 1.1000. Above 1.1130, pair could regain the upside with resistances at 1.1180 and 1.1220

Thursday May 6, 2010 12:44 Valeria Bednarik

12:44

[Comment From GuestGuest: ]

I guess if we get a rate cut, then the EUR is gonna go nose diving against all majors?

Thursday May 6, 2010 12:44 Guest

12:45

Valeria Bednarik:

i expect the same, but we can't never forecast such reaction 100% accurate. What I'm seeing now is a "sell the rumor" maybe if rates remain intact, we see some " buy the fact"

Thursday May 6, 2010 12:45 Valeria Bednarik

12:45

[Comment From dandan: ]

long E/U ?

Thursday May 6, 2010 12:45 dan

12:45

Valeria Bednarik:

I Believe is not the rigth time for that.

Thursday May 6, 2010 12:45 Valeria Bednarik

12:46

Valeria Bednarik:

RATES UNCHANGED AT 1% as expected.

Thursday May 6, 2010 12:46 Valeria Bednarik

12:46

FXstreet.com:

ECB has decided to hold the bench mark rates unchanged at 1.00%

Thursday May 6, 2010 12:46 FXstreet.com

12:46

Valeria Bednarik:

euro however, keeps falling breaking 1.2735 suppport.

Thursday May 6, 2010 12:46 Valeria Bednarik

12:46

[Comment From dagdag: ]

good, i´m with you then (thank´s god tomorrow i only have half working day), your coverage starts at 21 gmt, do you think we have already results at 21gmt?

Thursday May 6, 2010 12:46 dag

12:47

Valeria Bednarik:

Yes, tonight live coverage, hopefully we will have results of elections.

Thursday May 6, 2010 12:47 Valeria Bednarik

12:47

[Comment From RyanRyan: ]

Hi, any idea on QE or any comments on Greece?

Thursday May 6, 2010 12:47 Ryan

12:48

Valeria Bednarik:

I don't expect commentos on QE, but I'm sure when is time for questions, Trichet will be attacked by journalist. let's see how he get's out of there. But he won't be able to avoid talking about Greece, Portugal, Spain, ect

Thursday May 6, 2010 12:48 Valeria Bednarik

12:48

[Comment From VarunVarun: ]

Hi Valeria, Do we see a Bull run in Gold? What could be the possible next strong Resistance?

Thursday May 6, 2010 12:48 Varun

12:48

Thursday May 6, 2010 12:48

12:49

Valeria Bednarik:

I see some not so strong one around current 1182, stronger one at 1188, followed by this week high of 1192. General bias yes is bullish, with supports at 1176, 1170 and 1163 areas

Thursday May 6, 2010 12:49 Valeria Bednarik

12:50

[Comment From DarrenDarren: ]

is the ECB decision effectgint he USD/CHF its dropped drastically int he last few hours

Thursday May 6, 2010 12:50 Darren

12:51

Valeria Bednarik:

Hi Darren is not ECB decision. majors are moving their way, and USD/CHF is correcting extreme overbought readings, while euro is unable to do so, due to sovereign debt issues

Thursday May 6, 2010 12:51 Valeria Bednarik

12:51

[Comment From VernVern: ]

I think SNB have announced they will no longer intervence to support CHF which caused the sell off today in CHF

Thursday May 6, 2010 12:51 Vern

12:51

Valeria Bednarik:

I'm not really sure about that. Will check. Tks!

Thursday May 6, 2010 12:51 Valeria Bednarik

12:51

[Comment From SanjaySanjay: ]

AUD/USD seems to be in bearish mode.Is 0.8940 good support.

Thursday May 6, 2010 12:51 Sanjay

12:52

Thursday May 6, 2010 12:52

12:53

Valeria Bednarik:

I do believe that is exactly the inflection point for the pair. If we have a weekly close under it, pair could start a midterm bearish rally, thus I expect it to hold for now. If you review daily charts, we have seen pair bouncing strongly several times from that area. Currently around 0.9040, we have supports at 0.9020, 0.8980 and 0.8940. Resistances come at 0.9070, 0.9110, and 0.9150 area

Thursday May 6, 2010 12:53 Valeria Bednarik

12:53

[Comment From EfraimEfraim: ]

I thought the NZD/USD will be cycling up as it was building its foundation on the Daily & Weekly charts.

Thursday May 6, 2010 12:53 Efraim

12:54

Valeria Bednarik:

Pair is moving inside an ascendant channel in daily and weekly charts, so still bias is bullish midterm talking. Base of the channel is around 0.7050, so that's the key midterm support for the pair now.

Thursday May 6, 2010 12:54 Valeria Bednarik

12:56

Valeria Bednarik:

short term 4 hours chart, are showing pair losing strength to the upside, testing roof of the same channel, around 0.7260/70, so we could see some downsde corretive movements to the 0.7210 areafirst, and 0.7180 later.

Thursday May 6, 2010 12:56 Valeria Bednarik

12:56

Valeria Bednarik:

resistances come at mentioned 0.7260/70 and above 0.7290

Thursday May 6, 2010 12:56 Valeria Bednarik

12:56

[Comment From dagdag: ]

UK election: can we say, if the Tories win cable up, if Labour or hung parliament cable down?

Thursday May 6, 2010 12:56 dag

12:56

Valeria Bednarik:

seems the general view yes, Dag.

Thursday May 6, 2010 12:56 Valeria Bednarik

12:56

Thursday May 6, 2010 12:56

12:58

Valeria Bednarik:

Pound is under 1.5120, that has been the base of past April range. Heading slightly higher, pair will find there a strong resistnace area; if above, next ones come at 1.5160 and 1.5200 area. If we lose 1.5050 support, 1.5020 and 1.4990 area comes into play

Thursday May 6, 2010 12:58 Valeria Bednarik

12:58

[Comment From VarunVarun: ]

I believe ECB Chief's speech will have more impact than the rate unchanged report..Agree??

Thursday May 6, 2010 12:58 Varun

12:58

Valeria Bednarik:

Yes, as usual, next time we will cover that instead of the announcement.

Thursday May 6, 2010 12:58 Valeria Bednarik

12:58

[Comment From ceasarceasar: ]

Hi Val....what is your valuable input for GOLD...?

Thursday May 6, 2010 12:58 ceasar

12:58

Valeria Bednarik:

Check above, already comment. Tks!

Thursday May 6, 2010 12:58 Valeria Bednarik

12:58

[Comment From GuestGuest: ]

uk election results won't be in until tomorrow as polls close here at 10pm tonight

Thursday May 6, 2010 12:58 Guest

12:59

Valeria Bednarik:

22GMT you mean? Ok tks for the imput.

Thursday May 6, 2010 12:59 Valeria Bednarik

12:59

[Comment From DusanDusan: ]

In 2008 market had fallen down because of US mortgage securitie resulting in crisis, in 2010 makret is falling due to EU governments wasting money - we face next new crisis. What do you think, what crisis will be more painfull?

Thursday May 6, 2010 12:59 Dusan

1:01

Valeria Bednarik:

Great question. I do believe current european one will be. This situation is putting euro zone growth in jeopardy, for at least 1 year. I see 1 year of pain for eurozone... Whie despite maybe US crisis has been worse, Dollar is dollar and will always be the safe haven it has been. At least, in my life time.. in 30 years, maybe things will change, but be sure, not today, not next year.

Thursday May 6, 2010 1:01 Valeria Bednarik

1:01

[Comment From ahmadahmad: ]

is it time to buy euro? if to go long euro/usd where to place stop?

Thursday May 6, 2010 1:01 ahmad

1:01

Valeria Bednarik:

I really don't believe so, and next strong support in line comes at 1.2660/80 area

Thursday May 6, 2010 1:01 Valeria Bednarik

1:01

[Comment From cindycindy: ]

Hi Val,thoughts on cad$,pls.

Thursday May 6, 2010 1:01 cindy

1:03

Valeria Bednarik:

Hi Cindy, regarding canandian dollar, oil is another factor for a bullish USD/CAD. OIL has lost the $ 80 a barrel area, that has been quite a support for most of this year. Still we are very close to foresee a full break of the level,

Thursday May 6, 2010 1:03 Valeria Bednarik

1:04

Valeria Bednarik:

pair has now a strong midterm support at 1.0250, and looking bullish for me as long as above that. supprots come at 1.0290 and 1.0250 while resistances are located at 1.0360 and 1.0400. If above this last, pair should extend midterm talking and continue rising.

Thursday May 6, 2010 1:04 Valeria Bednarik

1:04

[Comment From VarunVarun: ]

Thank You Valeria, looking forward for the US session for Gold..by then we will get hints of ECB Chief's report as well

Thursday May 6, 2010 1:04 Varun

1:04

[Comment From SanjaySanjay: ]

Things are setting for black friday tomorrow.Seems EUR might touch 1,2551 on weekly low.

Thursday May 6, 2010 1:04 Sanjay

1:05

Valeria Bednarik:

You re welcome Varum.
And Sanjay, well, is some state you made there, but really, as we have been talking for long in here, and the daily webinar, there is no reason, technical or fundamental, for a euro rise. So trend remains bearish. That does not mean we could see intraday bullish corrective movements.

Thursday May 6, 2010 1:05 Valeria Bednarik

1:06

[Comment From EfraimEfraim: ]

Meanwhile the AUD/USD is running SHORT

Thursday May 6, 2010 1:06 Efraim

1:07

Valeria Bednarik:

is barely unchanged compared to pre news levels. but still moving in between 0.9020/70 those are the immediate levels to watch. Take a look at previous 4 hours candle, long downside shadow show buyers are still there.

Thursday May 6, 2010 1:07 Valeria Bednarik

1:07

[Comment From EfraimEfraim: ]

thnaks

Thursday May 6, 2010 1:07 Efraim

1:07

[Comment From GuestGuest: ]

hi, do you think we can get a technical bounce towards 1.32 in euro before next leg down...all of this euro weakness is so exagerated...i mean if we compare california with grecce we get a headache....what do you think is the possible action for may?

Thursday May 6, 2010 1:07 Guest

1:09

Valeria Bednarik:

Well, at this point, corrections the most that can reach for me is 1.3100, where we have a broken ascendnat trned line coming from 2002 lows. Really, as lower we fall, exagerated or not, the lower the pair will reach with an upside correction. As comment above, 1.2850 is quite strong resistance area for me; above, maybe 1.3000, and for me 1.3100 at this point is the extreme and a very exagerated also corrective movement.

Thursday May 6, 2010 1:09 Valeria Bednarik

1:09

[Comment From LeoLeo: ]

LONDON (Dow Jones)--The Swiss franc is soaring after traders said the Swiss National Bank had abandoned efforts to prevent the currency's rise.

Thursday May 6, 2010 1:09 Leo

1:10

Valeria Bednarik:

ok is a traders comment, not bank comment. Tks for the imput!

Thursday May 6, 2010 1:10 Valeria Bednarik

1:10

[Comment From GurjeetGurjeet: ]

what do u expect fro EUR/USD now?

Thursday May 6, 2010 1:10 Gurjeet

1:10

[Comment From SanjaySanjay: ]

At what price you suggest to short EUR today?

Thursday May 6, 2010 1:10 Sanjay

1:11

Valeria Bednarik:

Euro has broke lower, now testing the 1.2735 area, unable to break higher, so again going lower. As comment above 1.2660/80 is my downside probable bottom for today, and sorry, I can't suggest trades here.

Thursday May 6, 2010 1:11 Valeria Bednarik

1:12

[Comment From HendyHendy: ]

Valeria, where should Pound break to change its bias from bearish turn become bullish??

Thursday May 6, 2010 1:12 Hendy

1:12

Valeria Bednarik:

Short term, 1.5120. Longer term, 1.5260 area

Thursday May 6, 2010 1:12 Valeria Bednarik

1:13

[Comment From GuestGuest: ]

DollarYen? 95.00 not yet?

Thursday May 6, 2010 1:13 Guest

1:13	Thursday May 6, 2010 1:13

1:14

Valeria Bednarik:

dollar yen has sucumbed to risk aversion and retreated strongly from that 95.00.
now capped by 94.00/10, we need to overcome this area, to see the pair heading towards 94.40 area first. and that 95.00 later.

Thursday May 6, 2010 1:14 Valeria Bednarik

1:15

Valeria Bednarik:

pair broke an ascendant trned line, and 4 hours momentum remains bearish, while CCI is giving first signs of exhaustion. if we lose short term 93.70, pair could fall even to 92.80,with 93.20 in the midle, despite longer term I still see the pair bullish

Thursday May 6, 2010 1:15 Valeria Bednarik

1:15

[Comment From DragonDragon: ]

@Valeria: any chance eur will go north after tomorrow summit ? thx

Thursday May 6, 2010 1:15 Dragon

1:16

Valeria Bednarik:

chances are always there.. but I see small ones north euro at this point.

Thursday May 6, 2010 1:16 Valeria Bednarik

1:16

[Comment From zaphyzaphy: ]

1 year pain for the EU zone? The Germans just got 5% increase in factory orders...everyone and their grandmother will be buying euro zone goods -> manufacturing up -> unemployment down...doesn't sound like much of a pain to me.

Thursday May 6, 2010 1:16 zaphy

1:16

Valeria Bednarik:

euro zone is not just Germany... and that's the problem.

Thursday May 6, 2010 1:16 Valeria Bednarik

1:17

Valeria Bednarik:

Germany is being forced to lend billions to greece... as is the only one that can rescue it... Italy lending? Portugal lending? is quite a situation...

Thursday May 6, 2010 1:17 Valeria Bednarik

1:17

[Comment From cindycindy: ]

hearing about euro back at parity..is this possible.

Thursday May 6, 2010 1:17 cindy

1:18

Valeria Bednarik:

I can't see that far really! maybe 1.16/1.18.. but parity??? is too much for me at this point.

Thursday May 6, 2010 1:18 Valeria Bednarik

1:18

[Comment From sigmafxsigmafx: ]

Hi Val, Can you comment about yen pairs... Aud/jpy..will be nice..

Thursday May 6, 2010 1:18 sigmafx

1:20

Valeria Bednarik:

Pair was halted by strong 0.8800 area, and fall extendend to 0.8400 strong low. I do believe that if we lose that last, pair has a lot room more to fall. weekly close under it will be first signal. but if you take a look at what happended there today, we have rebounded strongly back up from that 84, so seems market is not ready to push it lower. 0.8520/30 area is the one to watch for a recovery in the pair.

Thursday May 6, 2010 1:20 Valeria Bednarik

1:20

[Comment From NisarNisar: ]

Hi Val, will canada test its high today

Thursday May 6, 2010 1:20 Nisar

1:21

Valeria Bednarik:

Apart form euro, pairs are in correction mode, and ahead of tomorrows payrolls, I believe we are going to see some consolidation there, not quite ready to test 1.0400 again

Thursday May 6, 2010 1:21 Valeria Bednarik

1:21

[Comment From WaqasWaqas: ]

do you think trichet comments regarding euro will boost 100 pip rally ...

Thursday May 6, 2010 1:21 Waqas

1:22

Valeria Bednarik:

Trichet comments usually trigger 30 spikes movements.. either up or down... not the best moment to take a trading decision... Euro is now at 1.2715... again no aims of rising.... I will wait till Trichet is over.

Thursday May 6, 2010 1:22 Valeria Bednarik

1:23

[Comment From SchlomoSchlomo: ]

Hello Val,the Us-Dollar is not strong,the currency is in luck,cause it gets the help of Rating-Agendas,like Fitch,Poors,etc..also their Private Central Banking System,is helping at the moment,at this moment the Anglo Saxian Finance Elite,is forcing the Crash of the Euro..cause the Problems of the British Pound and the US Dollar are equal,to the Euro.Problems..maybe the Commodity Currencys will be the Big Winner at Last...;)

Thursday May 6, 2010 1:23 Schlomo

1:24

Valeria Bednarik:

I agree with you, is not about dollar strength, is about euro weakness what we are living today in markets. Yet, this week manufacturing readings in the US are a first, shy signal of growth... if growth differential keeps widening.. dollar will get more than luck

Thursday May 6, 2010 1:24 Valeria Bednarik

1:24

[Comment From MartinMartin: ]

Hi Valeria, eur/usd after 1.2660/80 support, which levels do you see to act as a strong support levels? thnx

Thursday May 6, 2010 1:24 Martin

1:25

Valeria Bednarik:

1.2630 1.2585 1.2550 zone

Thursday May 6, 2010 1:25 Valeria Bednarik

1:25

[Comment From Abhijit KulkarniAbhijit Kulkarni: ]

which is the strongest support for eur/usd pair?

Thursday May 6, 2010 1:25 Abhijit Kulkarni

1:25

FXstreet.com:

Sorry we have Just 10 minutes left. If you have anything related Forex market, please do not hesitate to ask Valeria.

Thursday May 6, 2010 1:25 FXstreet.com

1:25

Valeria Bednarik:

short term 1.2660/80

Thursday May 6, 2010 1:25 Valeria Bednarik

1:25

[Comment From LeoLeo: ]

do you think there could be a break of Aud/USD below 0.9 soon?

Thursday May 6, 2010 1:25 Leo

1:26

Valeria Bednarik:

if we lose 0.9020 area, there is a chance. still no signal.

Thursday May 6, 2010 1:26 Valeria Bednarik

1:28

[Comment From HASHEMHASHEM: ]

gold what do you think

Thursday May 6, 2010 1:28 HASHEM

1:28

Valeria Bednarik:

Hasem, check above, we already comment, but in general bullish tone

Thursday May 6, 2010 1:28 Valeria Bednarik

1:28

[Comment From LeoLeo: ]

what do you think is the next intervention point for EUr/CHF from swiss CB?

Thursday May 6, 2010 1:28 Leo

1:29

Valeria Bednarik:

probably 1.400 area, but i don't knowwhat they think really.

Thursday May 6, 2010 1:29 Valeria Bednarik

1:29

[Comment From kamkam: ]

do you see the euro collapsing towards parity with the dollar

Thursday May 6, 2010 1:29 kam

1:30

Valeria Bednarik:

Seems a bit too much at this point for me. 1.16/1.18 is the most I can see.

Thursday May 6, 2010 1:30 Valeria Bednarik

1:30

[Comment From kamkam: ]

what will make the euro go strong again? and when you think

Thursday May 6, 2010 1:30 kam

1:31

Valeria Bednarik:

good question... a general recovery in all the countries, greece paying debts and loans on time, production increasing in all eurozone, employment reverting in Spain and Portugal..... and maybe 1 year

Thursday May 6, 2010 1:31 Valeria Bednarik

1:31

[Comment From kamkam: ]

Hi dear Val, do you believe as we hear, that the euro will be done with in ten years time

Thursday May 6, 2010 1:31 kam

1:32

Valeria Bednarik:

Kam, not sure If I will be alive tomorrow, really I cant forecast what will happen with euro in 10 years! talking about BELIEVE. I don't believe it, no.

Thursday May 6, 2010 1:32 Valeria Bednarik

1:32

[Comment From GuestGuest: ]

Hi Val, what about the USDJPY? I usually find this one harder to trade, when I apply my techniques, why is it that? Do you find it more unpredictable?

Thursday May 6, 2010 1:32 Guest

1:34

Valeria Bednarik:

I do believe each pair has a certain behaviour that we need to learn and understand to trade it. Maybe your technique is great with the rest of the pairs but does not apply to yen. try to follow it with simple moving averages, and a CCI with 200 and -200 levels instead of 100, or test any otrher technque there.. to find a more accurate one.

Thursday May 6, 2010 1:34 Valeria Bednarik

1:35

[Comment From GuestGuest: ]

eur/jpy: if closes below 119.54, where do you see it going the next week or so?

Thursday May 6, 2010 1:35 Guest

1:35	Thursday May 6, 2010 1:35

1:37

Valeria Bednarik:

117.40 area; pair has broke under a not the best ascendant trend line, and is quoting under 120.00..general tone remains bearish with 118.80 as inmmediate support if we lose today's low. 120 is now first resistance, ahead of 120.60/70 area for today.

Thursday May 6, 2010 1:37 Valeria Bednarik

1:37

FXstreet.com:

Sorry we are short of time today, I have to wrap up the session.

Thursday May 6, 2010 1:37 FXstreet.com

1:38

FXstreet.com:

Thank you Valeria for the great market view!... and every one who has joined the session today. I have had a great time with you.

Thursday May 6, 2010 1:38 FXstreet.com

1:38

Valeria Bednarik:

Ok, as always, my pleasure to be here with you today! remember to protect your trades, and wait untill Trichet is over to take trading decisions! I also had a great time here.. See you back tonight with UK elections results!

Thursday May 6, 2010 1:38 Valeria Bednarik

1:38

FXstreet.com:

Valeria, please give us a final word.

Thursday May 6, 2010 1:38 FXstreet.com

1:38

Valeria Bednarik:

Have a great trading day!

Thursday May 6, 2010 1:38 Valeria Bednarik

1:40

FXstreet.com:

Alright evey one,, Thank you for coming today! I hope to see you all tonight at 21:00 GMT in the UK Election live coverage. Have a nice trading day!
See you later!

Thursday May 6, 2010 1:40 FXstreet.com

1:40

FXstreet.com:

Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations.

Thursday May 6, 2010 1:40 FXstreet.com

1:40

FXstreet.com:

Thursday May 6, 2010 1:40 FXstreet.com

1:40

Posted by FXstreet Team in Fundamental Analysis, Live Coverage, Market Viewpoint & Live Commentary, Open Discussion | Permalink | Comments (0)

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