milliard

There was your trigger on that 4 hour bar at the dble bottom, no? They've been accumulating (adding to) this along with the Euro all month. Dollar's in a hole against these 2 European majors, not a Bull in sight at present. This is the run for the week now. Dollar longs are well out of sight on this step up.

Ha ha ha, yeah she's under pressure! Buk's back home Stateside till mid 2nd Quarter, so she's on double shifts LOL. Nah, as is evident, there's been plenty volatility of late on the Yen stuff, so lots to keep on top of. No doubt she'll slope back in when it all exhales.

If you’re talking bout actually “trading†the physical instruments, which I guess you are? then all you're seeking is value & prospective cross compounding, yeah? As you say, the carry exists because of the interest rate differential between the trading nations. Money shifts around seeking high yield. The buck & Sterling currently benefit from a + 5.2% bias on the differential, whilst the EU attracts + 3.25% yield over the Asian currency. If you look at a Daily chart based on those trading partners you’ll see the positive flow in positioning yourself short Yen (Long Dollars, Sterling & Euro) Unless the rate differential gets squeezed (Yen rates increase and/or the others deflate), then nothing will really unseat the carry advantage, & traders will proportionally leg into yield advantage. Sure, every once in a while outside influences spook the fast money or shorter frame speculators, but if the generic fundamentals hold good, then the long range players will merely soak up those pullbacks to buy more contra Yen positions. As a trader, your prime objective is to seek value & compound profits. By exploiting the carry, spread across the array of cross instruments, you're utilizing positive bias.

I hear ya. I'm not so loyal. If it lifts it's skirts, I'll pay it some attention!! Hey, looks like we christened the FX room just now. Anna-Maria sprayed the walls with dubious grafitti. I best report that dishonorable behaviour to the site boss man!

Gotcha. Yeah if it's new I guess it'll take a while for folks to cotton on. Agree, not much outside range activity on the European's. The cute cookies are merely soaking up the supply under these topside stop builds. If those blow, we'll get a decent run no doubt. Yen's been the place to be of late. Plenty goin on across there.

Yeah, doesn't take long to slip out of the groove huh? These major European pairs are good buy candidates on pullbacks. Nothing has changed out there to offer the Dollar a leg up really. I guess if you're jobbing then maybe it's a slightly different perspective, but you gotta be fleet of foot taking that option in current circumstances. On a side not, I see this place now has a FX chat facility. Looked in on it earlier, but no-one home. I guess most folks on here are heavy indx ftrs players judging by the content, does that FX room ever attract personnel?

I assume you're referring to a retail chop shop? What kinda size was he turning & which shop was your buddy trunking through out of interest?

That 38% is a good fulcrum for the early hitters Buk. Once the importers & Agricul guys have done their business we'll get a snook at how much appetite these specs really have. Another low printing daily bar will shine a light on this low trough 62% at the 117.5. A good bunch of stops lurking there & no mistake! 1st test will be a hold on 118 as Tokyo closes off.

You see the 2nd edit Buk? Now that's a giggle or three. You were on the nail re: 'voluntary exit', certainly via dllr/yen - kudos! Retail chasers will fuel the kick & they'll be a mild handover. 118.29 (50% of 114.40/122.20) on the short term radar, then some flak through to the 06 summer line at 117.35, the 61.8. Should attract short term specs & value chasers all the way down from 119.20 if this remains genuine.

Yeah, the hitters are on the other boat Steve. Like Krantzy mentioned, it's (still) the path of least resistance!

They're jawboning the goddamned thing to death Krantzy. We got Chinese & Jap top table talking heads chatterin the wires to dust on the overnights. + Smaghi & Juncker tripping over their bootlaces on a mission to the mic. LOL, it's a regular circus out there again huh? Yen's getting a backwind from the heavy duty (Asian) Life offices past couple days. Repatriation will account for a whole heap of att'n for sure.

Safe a place as any (590) considering you nailed your premium entry at the 610. You got the market doing the work for you now. If the $ gloom unfolds, you have your optimum kick to the upside. If not, you're booked & ready to switch. The late comers are handling all the risk from hereon in.

Yeah, quite a bit of dual side activity between Buk's top tier channel lines Anna. % profits likely being booked off last weeks shift through 1.31. The "indicator crowd" are chirping topping up here too - good enough reason to buy any pullback lag imo LOL.

The Housing Data is being underlined on both sides of the pond Steve. Both sets of finance offices are chattering it up for obvious reasons, so it's sure worthy of more than a casual glance. This shake & pop could be tested back to the London base on a jump through last weeks highs on both European leaders up at current levels, Euro has the toughest barrier to blow through with the channel top on a sideways resistance marker to the Dec 20 high (1.3244).

Time to dismount cowboy. Lets go do a POETS.

The Friday lonesome blues Anna, yeah I heard. He's a goddamned liability that boy. Hogies apparently bankrolling him & a few jobbers out of Easts? Be interesting to see who they trunk through.

Most of this is the knock-on from yesterdays buying Steve I think you'll find. This mornings minor shake out merely strengthened the range buyers positions. These layered stops are firing off now. If they can push it toward last weeks high & the 38% big range level, they'll be happy to settle it into the fix. You got an R1 pivot heading through 624, & some hourly flak around 640. Shouldn't deter it too much if those stops are plentiful.

Thank christ for that. Put him on mail block will ya just to be safe. Yeah, those busy timeframes will bruise you if you're not fleet of foot Steve. Still, I guess 12 months down the road & still breathing is a good sign. You mainly play off the majors then?

Your nick looks familiar?! Were you around in the USF (Anna-Maria's den) forum back in 02/03 at all?

Lets hope so Nothing like panic to freak the troops. It's been a decent meal really since mid 2006 when the Eu & Pound broke out again. They're attempting to pressure 10yr barriers up alongside 241 & 163, so that ought to whip up a little fun. But like I said, it's a case of tossing a log on the fire every one in a while. You trade those yourself?

Sure. Your 2nd post on this very thread highlighted that point. The carry has been a no brainer. Stick it on & let her go. BoJ sure as hell weren't going to upset that party this week LOL. Beats getting mugged inside all this noise on the Euro & Sterling.

There's a little bit of flak up here at the 96 with triple pressure via the descending channel top, Daily 50% & 50dma. But they were buying off the 61% at 95 into the London fix yesterday, so the lower line looks quite tight. If you've got the stomach, they'll be hunting layered stops above 615 through to last weeks top at the 677, which is also the 38% Fib. 546, the 240m doji is the short end test on this buying pressure today for these Sterling Bulls. If it slips there, they'll try hump it again back at the hard supports - higher low 9500.

You're going to get swamped on those credits Arty! You oughta know better than to step into that ring. Hey Buko, has he been spoofing me all this time LOL.

What, you want the actual transcripts of his speeches? Or just to know when he's due to speak? The actual dates & times will be available on the calendar, one of which KhurramNaik recommended. There are one or two others doing the rounds. I guess if you have a feed into one of the relay channels, you'll get an abridged summary of his dialogue if it warrants it. The business cable facilities such as Bloomberg or CNBC occasionally screen them too. The important part is knowing when he's speaking, what the agenda is & the relevance to the market.

FRB: Federal Open Market Committee