Daily Forex Analysis and Predictions for Mar 08, 2010

Highlights
Risk steps back from the brink; may rebound further
On paper it seems that the Greek issue may have come off the boil
Happy nonfarm Friday for risk
Key data and events to watch next week
Risk steps back from the brink; may rebound further

Just last week at the end of February, risky assets (stocks, commodities and in FX the JPY-crosses) and the global reflation trade were looking extremely shaky and we cautioned on the potential for another plunge. But a new month has brought some more positive data and apparent crisis resolutions (more detail below), and those risk trades have all seen decent rebounds. Does this mean that risk is back ‘on’? First off, we would note that most markets are still trading with an incredibly short-term focus, gyrating on daily data reports. Secondly, incoming data from the major economies continues to be extremely uneven, with some indicators inspiring confidence and others reminding of the damage wrought. We expect this to continue to be the case in the weeks and months ahead, which suggests that short-term volatility and absence of trend will continue. Lastly, we remain below recent range levels/highs in many pairs and commodities: e.g. gold below 1040/50; oil below 82.00/50; EUR/USD below 1.3800/50; GBP/USD below 1.5200/50; USD/JPY below 90.50/91.00; USD/CAD above 1.0200/50; and AUD/USD below 90.50/91.00. A number of JPY-crosses are also at key Ichimoku levels, but have yet to decisively break through to the bullish side: EUR/JPY stalled at the daily Kijun line at 123.33; AUD/JPY testing the cloud top at 82.48; and GBP/JPY struggling with the Tenkan line at 136.86. Also, US stock indexes (except Nasdaq) are all still below the highs seen back in January. In short, we’re still within recent ranges.

While those ranges persist, we’re looking at a potentially more USD-positive scenario across the board, based on a brighter outlook for the US relative to more beleaguered UK and European outlooks. This has been the driving force over the last several weeks, and the less-bad US NFP provides another proximate boost to that theme. However, if risk appetites improve more significantly, we may see a reversion to the dynamic that dominated most of 2009, where the USD is sold against all but the JPY, and commodities and JPY-crosses lead the moves higher in risky assets.

With those reservations noted, we would also observe that the past week was largely spent testing recent risk lows, which held up well, typically suggesting that markets will go for the other side of the range in the near future. The better-than-feared US jobs report provides a fundamental catalyst to view the risk outlook as continuing to improve, while data out of China next week may provide another boost to risk sentiment. In addition to the apparent resolution of the Greek deficit crisis, market talk was rife with reports of quasi-official interest to buy EUR/USD below 1.3550, which meshes with an EU desire to prevent a speculative assault on the single currency. As well, moves by the MOF in Japan to increase the size of its FX fund were taken as a signal additional JPY strength is likely to be resisted by intervention. A look at the weekly candlesticks also shows several significant reversal patterns. In particular, GBP/USD posted a prominent ‘hammer,’ a bullish reversal pattern after a decline, which was matched in EUR/GBP by a large ‘shooting star’, a bearish reversal pattern after an advance. As jaded as we are on Sterling, a corrective bounce looks imminent and we would look to buy dips back to the 1.4950/5050 area. EUR/USD has also posted 3 weekly doji/spinning tops in a row, suggesting a volatile resolution in the near future. Given still excessive short-EUR/USD and short-GBP/USD positioning, we think the prospects are ripe for a correction higher, moves which we would not fade for quite some distance. USD/JPY seems on better footing now that it’s back inside its cloud, and together with the potential for a rebound in EUR and GBP/fresh gains in AUD and CAD, there is potential for a break higher in the JPY-crosses. We’ll need to see a benign/positive news environment for risk appetites to recover, so we will stay nimble and roll with the data/events, but risk may surprise higher.
On paper it seems that the Greek issue may have come off the boil

On paper it seems that the Greek issue may have come off the boil. The Greek government’s 10 yr bond issue was three times oversubscribed and the announcement of additional austerity measures worth EUR4.8 bln broadly met the approval of other EMU officials. On the streets, however, it is a different story with riot police forced to control angry protesters with tear gas. Despite the attempts by the populace to stop proceedings the extra austerity measures were rushed through parliament and passed. This may unlock a support package from the EU for Greece. Controlling Greece’s 12.7% of GDP budget deficit has been made all the more difficult by the rise in yields needed to account for the extra risk of investing in Greek paper. Understandably the PM would like reassurances from EU that would lessen funding costs. Comments from the European Commission’s Juncker suggest that this may now be likely. By passing the extra austerity measures Greece has swallowed a bitter pill and taken a huge step forward in the move to control its budget.

The story is far from over with further strike action and the likelihood of a prolonged recession suggestive of a long and rocky road for Greece. That said Greece’s action has strengthened the coherence of EMU suggesting some short-term support for the EUR is possible. Longer term, however, the incidence of stringent budget reform this year in the relative large economy of Spain as well as smaller ones such as Greece, Portugal and Ireland will have economic consequences throughout the EMU. Germany is still reliant on exports for growth suggesting that the impact will be felt broadly throughout the EMU region. Insofar as inflation is extremely subdued in the Eurozone (1.0% y/y) there is very little risk of a rate hike from the ECB well into 2011. The interest rate differential is likely to continue weighing on EUR/USD, suggesting that while EUR/USD may edge a little higher near-term, there is room for further downside on a 3 to 6 mth view.
Happy nonfarm Friday for risk

The US nonfarm payrolls report provided a pleasant surprise to the market as it came in much better than expected at -36K (consensus had -68K baked in) and the prior two months were revised up a net +35K. If that wasn’t enough to whet the appetite for risk, the unemployment rate printed 9.7% and was steady as she goes (market expected an increase to 9.8% or worse).

The details of the report showed an even more constructive outlook for the job market than the headline prints suggested. Temporary help workers saw another 48K increase, the fifth consecutive month of sizeable gains. This is a leading indicator of future employment as temporary help is usually what companies will add first. Aggregate hours fell -0.3% after a 0.3% gain the prior month, but this was much less than we would have expected given the significant weather impact on this report. The three-month trend in this metric remains well in positive terrain for the second consecutive month. To illustrate just how large the seasonal impact was, we look at those people “not at work due to weather” during the month. This number spiked to above 1 million and this is significantly above the 265K average (for the February month) since 2000 – palpable indeed. Extracting the weather effect, the payrolls number would have likely been closer to around +200K.
Key data and events to watch next week

The calendar in the United States lightens up a touch but still has some important top-tier numbers on deck. The NFIB small business optimism index kicks off the action on Tuesday while Wednesday is busy with wholesale inventories, crude oil inventories and the monthly budget statement due up. International trade and the usual weekly initial jobless claims are scheduled for Thursday while Friday rounds out the week with retail sales, business inventories and the University of Michigan consumer sentiment index.

It is a relatively quiet week in the Eurozone. French business confidence and German industrial production are the first data points out the gate on Monday. French industrial production, German trade and German consumer prices are due on Wednesday while French nonfarm payrolls are up on Thursday. German wholesale prices close things out on Friday.

UK data starts on midnight local UK time on Tuesday with Feb. BRC retail sales and the RICS house price survey. The trade balance is up Tuesday morning proper while industrial production and the NIESR GDP estimate are up on Wednesday. The Bank of England releases its inflation attitudes survey on Thursday.

Japan’s week is characteristically slow. The index of leading economic indicators and machine tool orders are both up on Tuesday. Wednesday brings GDP while Friday rounds things out with the industrial production report.

Canada is likewise not very busy. Housing starts lead off the week on Monday while trade data is due Thursday. The all-important employment report should send shockwaves through the market on Friday.

It is busy down under, for a change. Australia has NAB business conditions and consumer confidence on Tuesday and consumer inflation expectations and the employment report of Thursday. New Zealand, meanwhile, has business PMI and the RBNZ rate decision on Wednesday while home sales and retail sales close out the week on Thursday.

Chinese data always has a way of moving markets and there will be some to chew on next week. Trade is due on Wednesday while industrial production and retail sales are the highlights on Thursday.

sell kipas angin, akuarium, radio, tv
buy pulsa… hehehe

saya postkan strategi saya, materi trading dan koleksi 1000 indikator misalnya pivot, predic dll, dengan harapan dapat bermanfaat bagi kita semua:

http://www.ziddu.com/download/8396902/koleksi_1000_indicator.zip.html

untuk scalper target (10-50 pips) bisa gunakan koleksi indikator

materi trading:

-LEVEL TRADER
http://www.ziddu.com/download/8827535/TraderLevel.doc.html

-Stochastic Oscilattor
http://www.ziddu.com/download/8827895/StochasticOscilattor.doc.html

-ELLIOTT WAVES
http://www.ziddu.com/download/8827817/ELLIOTTWAVES.doc.html

-FIBONACCI ARC
http://www.ziddu.com/download/8834877/FIBONACCIFibonacciArc.doc.html

-FIBONACCI FAN
http://www.ziddu.com/download/8834944/FIBONACCIFibonacciFan.doc.html

-FIBONACCI RETRACEMENT
http://www.ziddu.com/download/8834968/FIBONACCIFibonacciRetracement.doc.html

-FIBONCCI TIME ZONE
http://www.ziddu.com/download/8834992/FIBONACCIFibonacciTimeZone.doc.html

-SUPPORT and RESISTANT
http://www.ziddu.com/download/8838019/support-resistant.doc.html

-PREVIOUS HIGH and LOW
http://www.ziddu.com/download/8837924/PREVIOUSHIGHdanLOW.doc.html

-RELATIVE HIGH and RELATIVE LOW
http://www.ziddu.com/download/8828401/RELATIVEHIGHdanRELATIVELOW.doc.html

-TREND LINES
http://www.ziddu.com/download/8828374/TRENDLINES.doc.html

-SUPPORT and RESISTANT (FIBONACCI RETRACEMENT)
http://www.ziddu.com/download/8827620/FIBONACCIRETRACEMENT.doc.html

****and never say afraid to trade****

Strategi 08 Maret 2010

AUD-USD
http://www.ziddu.com/download/8868184/audusd_08_03_2010.JPG.html

GBP-JPY
http://www.ziddu.com/download/8868185/gbpjpy_08_03_2010.JPG.html

GBP-USD
http://www.ziddu.com/download/8868186/gbpusd_08_03_2010.JPG.html

EUR-USD
http://www.ziddu.com/download/8868187/eurusd_08_03_2010.JPG.html

EUR-JPY
http://www.ziddu.com/download/8868188/eurjpy_08_03_2010.JPG.html

AUD-JPY
http://www.ziddu.com/download/8868189/audjpy_08_03_2010.JPG.html

salam sukses 🙂

itu mah anak kos lagi ke fefet bro,,

betul…
tiap hari kena MC
daripada utang di warung tambah gede
sell kamus
buy nasi kucing tak apa … hehehe

Nasi kucing lauknya ayam panggang, minumannya Teh Poci, nikmattttttttt

klo belinya di kedai teh Poci Simpang Lima tambah nikmat …

hahahahahahah……yg bikin nikmat bukan teh pocinya tapi nyawang bakule sing wayuuuuuu……..

klo sebut2 simpang lima, berarti bung baby di semarangan dong, boleh tahu persisnya, kapan2 boleh main dong. nanti tak traktir di warunge P.Jimin or Ambon, minum es degan sambil kebal kebul, nikmat tenan……………………….. he he he

pagi,
kalo sy di simpang lima biasanya lari pagi keliling
lapangan, terus nasi pecel di pincuk ….
kenangan manis.
salam profit,

kok kenangan manis, emang non sekarang dimana?

di jakarta, Tangerang lah, tepatnya
ikut ortu dong..

Kalau Abah lebih gayeng di warung mbak Nur Kaligarang, wadhuh . . . kewate hora umuuuum . . . . heu heu heu

ah, Abah mah senangnya yang malem2 kali !
heuheuheu

Eta mah jaman kiwari sayang, . . . heu heu heu

GBP/USD
bila gap berada di posisi 1.5090-1.5100 OP buy TP 1.5160 – 1.5170
begitu juga sebaliknya bila gap di atas 1.5170 OP sell

EUR/USD
Bila gap di level 1.3590 – 1.3600 OP buy TP 1.3650 – 1.3660
bila gap di atas 1.3660 pasang pending order sell limit 1.3683 TP 1.3623

gap seperti gigi yang ompong…
jadi segera ditutupi
strategi bagus … 🙂

mas babypips gu buy sampe 152an sell gimana,setuju gak

Saya setuju, sell GBP/USD 1.5160, tp 1.5110 = 50pips.

Salam Profit,
Sepertinya berita NFP kemarin menunjukkan bahwa kondisi Amrik masalah unemployement kurang bagus, mangkaknya setelah berita UE mentok kebawah sampai 50pips, setelah itu naik lagi sampai 50 pips, sesuai prediksi suhu Babys walaupun naiknya setelah 3 jam setelah opening NFP.

Mohon pencerahan suhu Babys untuk EU hari ini, karena kita masih ada floating long EU sebesar 30an pips. Trims.

Adhem Ayem ae ker.
Together We Win

prediksi GS pagi bgt munculnya, tinggal nungguin saran para master ni . . . . 😀

Om GS ada gak info USD?JPY??

menurut saya tunggu turun ke kisaran 89.85 – 90.05 kemudian OP buy dengan TP 90.65.
Only 60 Pips. hehehehehheeh

UJ maksimum naik 90.97 kemudian pullback 89.97
saya tunggu sell UJ di 90.97 tp 89.97

salam sukses 🙂

Buy Limit GU 1.5165 TP 1.5220

mbah GS mohon pencerahannya untuk US/yen

Ada masukan untukku EU sekitar jam 19 gimana ya

GBP_USD Sell 1.514 Confirmed
AUD_CAD Sell 0.9377 NotConfirmed
AUD_JPY Sell 80.46 Confirmed
AUD_USD Buy 0.8965 NotConfirmed
EUR_CHF Sell 1.4639 NotConfirmed
GBP_USD Sell 1.5138 Confirmed
GBP_JPY Sell 134.84 Confirmed
GBP_AUD Sell 1.6846 NotConfirmed
GBP_USD Sell 1.5115 Confirmed
AUD_CAD Sell 0.9375 NotConfirmed
EUR_AUD Sell 1.5145 NotConfirmed
AUD_USD Buy 0.8969 NotConfirmed
GBP_USD Sell 1.5117 Confirmed
AUD_USD Buy 0.8969 NotConfirmed
NZD_JPY Sell 61.83 Confirmed
CAD_JPY Sell 86.5 Confirmed
AUD_JPY Sell 80.5 Confirmed
GBP_USD Sell 1.5118 Confirmed
AUD_CAD Sell 0.9387 NotConfirmed
AUD_JPY Sell 80.71 Confirmed
AUD_USD Buy 0.898 NotConfirmed
GBP_JPY Sell 134.88 Confirmed
AUD_CAD Sell 0.9394 NotConfirmed
EUR_CAD Sell 1.4188 NotConfirmed
GBP_USD Sell 1.5125 Confirmed
AUD_CAD Sell 0.9387 NotConfirmed
AUD_JPY Sell 80.7 Confirmed
AUD_USD Buy 0.898 NotConfirmed
EUR_USD Buy 1.351 NotConfirmed
GBP_JPY Sell 134.92 Confirmed
CHF_JPY Sell 83.07 Confirmed
USD_JPY Sell 89.4 Confirmed
NZD_JPY Sell 62.97 Confirmed
AUD_CAD Sell 0.9404 NotConfirmed
GBP_AUD Sell 1.6818 NotConfirmed
EUR_AUD Sell 1.5105 NotConfirmed
GBP_USD Sell 1.517 NotConfirmed
AUD_USD Buy 0.9004 NotConfirmed
CAD_JPY Buy 85.93 NotConfirmed
AUD_CAD Sell 0.9404 NotConfirmed

om banypips, ntuk GU prediksinya mau kemana ya

kalau di lihat dari pola candle/chart di TF H1 GU berpeluang UP sampai di 1.5253.
ya namanya juga forex kemungkinan meleset juga ada, yg penting MM tetap di terapkan.

mudah2an EU op 1.3662 TP 1.3722 kena.

maturnuwun…..