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FOREX FORUM
21/10/14 14:00 A US Existing Homes con: 5.1 pre: 5.05
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eurusd
Paris ib 13:11 GMT 10/21/2014  - My Profile
JM - presuming there was intent behind the headline then the aim was to get the EUR lower. Given the news was clearly false I think it's fair to assume intent.

Where's Ginko?
Paris ib 12:45 GMT 10/21/2014  - My Profile
The Ginko rally is alive and well. Certain elements are still waiting for (and actively working for?) the end of the world (Mr. Soros take a bow). But the odds don't add up. A rally into FOMC and then post FOMC into the November 4 U.S. elections would leave us pretty close to year end and the potential for a 'Christmas Rally'. While people over at ZeroHedge (anonymous and potentially on the Soros payroll?) relentlessly push the stock market bear case it looks like odds on we could get a rally which would leave some people flat footed.

The Big Put


PIVOT POINTS: Trading System
GVI Forex john 12:39 GMT 10/21/2014  - My Profile
EUR PIVOT POINTS
Entry: Target: Stop:

1.2784 post FT headline high.
1.2786 pivot


Its interesting that the reaction to news is often not symmetrical. In other words we have not returned back to where we were before the initial unsourced story about the ECB to buy corporate bonds appeared.

My best guess is that stops are now to building above the pivot
(1.2786).

BREAKING NEWS
london red 12:33 GMT 10/21/2014
s&p. a little earlier futs were indicating the index opening at 50% of recent fall. now a little lower although abv the 200 day ma today at 1909. the close will be interesting. if market is to fall further, often the do a bull trap at this average, sucking in longs only to sell off towards the close and finish under the average. but i dont dismiss the us stock bulls and a close abv the 200 day day have us at 1945 and 1975 lightning fast.

BREAKING NEWS
london red 12:23 GMT 10/21/2014
just covered here. sit aside for now. its a bit quick down to the 50, may bounce ahead of the 47 support.

BREAKING NEWS
london red 12:12 GMT 10/21/2014
got patches of the upside but have used the opportunity to resell. 5 day ema at 65 below here focus on 47 again while topside remains 90(88) thru there required to bring on 12806 test. by that time it might have a bid feel and thru 06 brings on test of high. but for now picture is different.

BREAKING NEWS
GVI Forex john 12:03 GMT 10/21/2014  - My Profile
The initial story was always doubtful.

BREAKING NEWS
GVI Forex john 12:01 GMT 10/21/2014  - My Profile
FT- Corporate bond buying not on the table at ECB. EURUSD rebounds.

eurusd
london red 11:57 GMT 10/21/2014
some time has passed since the recent low at 1.25 so a lot of spec accts are going to be long but i think its a case of bailing first, asking questions later. euroland is threatening an official return to recession and is fighting the onset of deflation and the ecb because of this is the most dovish of central banks, japan excepted. compare that to whats happening in the states. i dont think anyone has called the bottom here, they are just doing their jobs and trading the move higher while it lasts, hence the nerves when anything remotely involving qe or abs is mentioned.

eurusd
NY JM 11:44 GMT 10/21/2014  - My Profile
ib, looking at the price action, the ECB headline caught the market long EURUSD

eurusd
london red 11:40 GMT 10/21/2014
ditto from me. going years back now when times were tough, learnt the most from bc and Athens.

Global-View Forums
GVI Forex Jay Meisler 11:40 GMT 10/21/2014  - My Profile
We don't get much feedback but I want to give some. I find our forums, even after all these years, still amazing and I find it hard to trade without them.

Take today as an example. I woke up around 5:30 AM, saw the EURUSD had fallen, looked at the Forex Forum and found the catalyst right away. Bulletin board forums are not designed for breaking news and why I find ours the best. Then there are those posting levels and trade ideas that completed the picture and gave me a head start on the day.

Our vision from the start was to create a global trading room, modeled after an old time bank dealing room, and in this regard we have done a good job. We would like to see more people posting rather than sitting in the background (hint!) as everyone has something to contribute.

And as a favor... how about using social media to spread the word about Global-View!!!

eurusd
LJ BK 11:35 GMT 10/21/2014
BC, nice to see you back. So you haven't left the table yet. I hope you're still able to clean it. Looking forward to your contribution here again.

eurusd
Paris ib 11:31 GMT 10/21/2014  - My Profile
bc - it's pretty certain this is merely a headline, probably in aid of EUR short sellers. The U.S. Went for QE boots n all, so far the ECB has been extremely cautious on this issue and I can see no reason why that is likely to change.

eurusd
Riga 11:23 GMT 10/21/2014
Tallin if you didn't catch stop you are good....:-)

eurusd
shanghai bc 11:13 GMT 10/21/2014

Buying corporate bonds of major firms may do more help to the EU economy than buying useless government bonds..Chinese way of central bank helping the real economy..Money goes directly to the major firms..More effective that way..

mkt
shanghai bc 11:07 GMT 10/21/2014

Thanks,AB..very much impressed by the professional standard of the Forum..Much has been improved on Forum while I left the Forum for a few years on public duty..

PIVOT POINTS: Trading System
GVI Forex 10:47 GMT 10/21/2014  - My Profile
Yesterday USDJPY high was dead on at R2 =107.39

Today EURISD high was 1 pip below R1 = 1.2839

S1 =1.2754
S2 = 1.2701 (20 day mva = 1.2702)

Detroit
PAR 10:30 GMT 10/21/2014
UN Experts: Detroit Should Restore Water to Poor



DETROIT — Oct 20, 2014, 6:28 PM ET

By JEFF KAROUB Associated Press

United Nations human rights experts described Detroit's mass water shut-offs as "a man-made perfect storm" Monday and called on city officials to restore water to those unable to pay, including those with disabilities or chronic illnesses.

Meanwhile, Detroit's officials said the two lawyers' actions and conclusions were agenda-driven and not based on "facts" about the city's progress in helping residents keep or regain service.

Leilani Farha and Catarina de Albuquerque, who were in town to observe the effect of water service shut-offs, said they affect the poorest and most vulnerable — and particularly discriminate against Detroit's majority black population.

PIVOT POINTS: Trading System
london red 10:29 GMT 10/21/2014
downside targets while we remain under 88 are 47 35 then 12700 90 86. will be looking to buy 127 down with stop under 80

PIVOT POINTS: Trading System
GVI Forex john 10:26 GMT 10/21/2014  - My Profile


USD & EUR Pivots. Chart Point tables. Click chart icon to store in browser tab.


Using Pivot Points in Forex Trading:
A Simple but Effective Trading System



eurusd
PAR 10:22 GMT 10/21/2014
FXStreet (Łódź) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ observes that EUR/USD continues to climb after bouncing off support at the 1.2500 at the beginning of October.

Key Quotes

"Euro selling pressures have eased in the near-term alongside dampened expectations for monetary tightening from the BoE and Fed which has helped narrow expectations for monetary policy divergence with the ECB in the year ahead The ECB has already committed to a “sizeable” expansion of its balance sheet through TLTROs and private asset purchases."

"The ECB confirmed that it began purchasing covered bonds yesterday and will reveal how much it purchased every Monday afternoon. The purchases of ABS are expected to begin later this year. Still with downside risks to inflation and growth in the euro-zone continuing to build, the ECB remains under pressure to deliver further easing which if delivered could trigger renewed euro weakness."

"French and German finance and economy ministers also pledged yesterday to help support economic growth in the euro-zone through boosting investment."

"German Economy Minister Gabriel stated that Germany was developing plans to help raise the share of investment as a % of GDP from 17% to 20% by promoting private investment which would bring it into line with the average for OECD members."

"French Finance Minister Sapin stated that each euro-zone member state must spell out by the end of year how it plans to boost investment with more specific proposals expected to be presented by early in December."

mkt
hk ab 10:04 GMT 10/21/2014
bc great call in work again. Short above 1250

eurusd
Paris ib 09:52 GMT 10/21/2014  - My Profile
This kind of reporting has a bit of a history.... if you look it up these 'sources' have been making these suggestions since 2009.

"The European Central Bank could start buying corporate bonds"

2009 Wall St Journal Article


eurusd
Paris ib 09:50 GMT 10/21/2014  - My Profile
'several sources familiar with the situation told Reuters'

Bit of Headline Trading for You


eurusd
Paris ib 09:42 GMT 10/21/2014  - My Profile
'Sources' not named. ECB spokesman apparently denied that a decision has been made. Still the picked their moment. Quiet market.... into lunch time.

RISK-ON? European Equities Consolidate Recent Losses. China GDP In Line. Housing Data Due
GVI Forex Blog 09:42 GMT 10/21/2014  - My Profile
HIGH IMPACT NEWS: US- Existing Homes Sales

Today sees the the latest September U.S. Existing Homes Sales. This report is the most comprehensive housing statistic Markets are already starting to set up for the Fed meeting in a week's time. This is an important period for confidence in the financial markets. . Additionally markets have been setting up for the results of the ECB stress tests set for release on Sunday October 26.

RISK-ON? European Equities Consolidate Recent Losses. China GDP In Line. Housing Data Due


eurusd
Paris ib 09:38 GMT 10/21/2014  - My Profile
Reuters headline that the ECB is considering buying corporate bonds caused the dip. It remains to be seen how accurate the information behind the headline is.

eurusd
PAR 09:38 GMT 10/21/2014
ECB to buy corporate bonds ,especially peripheral .

eurusd
sd sf 09:33 GMT 10/21/2014
EUR - its just closing its shorts @84-5

see how things look in Asia in the morning .. GT

CURRENT CONDITIONS: Risk-On
GVI Forex john 09:22 GMT 10/21/2014  - My Profile
09:15 GMT- Current Market Conditions:
Early in European trade, equity markets have shifted to a consolidation or a RISK-ON posture depending on how the session pans out over the day  Usually, n the end, U.S. indices set the global tone for equities. Equities in Far East trade ended mixed. European bourses are broadly higher.  U.S. share futures are up modestly at this hour.

U.S. 10-yr yields are down. 10-yr yields in the bund and gilt are roughly steady. Peripheral bond yields are up, Volatile Greek yields are higher.



The heat map color scheme of interest rates reflects yields.



Day's Trades
sd sf 09:07 GMT 10/21/2014
GBPUSD wise - GBPYEN should have resistance @50-60 which was tough level to break before eventually touching 173.00

so I guess for now 70-80 will be offered in GBPUSD

this type of stuff depends alot on how the US Session Starts - as they throw alot of our trading out the window at times.



eurusd
Tallinn viies 08:59 GMT 10/21/2014
covered my short euro at1,2811 with 17 pips loss.

BREAKING NEWS
GVI Forex john 08:57 GMT 10/21/2014  - My Profile
EARLIER: China GDP slows less than expected to +7.3% yy.


New signal
London London 08:56 GMT 10/21/2014
Sell OTHER
Entry: Target: Stop:

New Signal: Sell NZD/USD @ 0.79867. at 2014.10.21
S.L - 55
T.P + 55

Visit us for 8 days free trial

forex signals


BREAKING NEWS
GVI Forex john 08:51 GMT 10/21/2014  - My Profile
China GDP 2Q14yy





EARLIER Data News

+7.30% vs. +7.20% exp. vs. 7.50% prev.


TTN: Live News Special Offer


Direct links to primary data sources

Day's Trades
SaaR KaL 08:24 GMT 10/21/2014  - My Profile
Gold
I would not be surprised if they are not shorting it here
tgt 1220

You guys think?

Day's Trades
SaaR KaL 08:13 GMT 10/21/2014  - My Profile
Cable most likely to lower then 1.6040 from here

eurusd
sd sf 08:10 GMT 10/21/2014
one of my best Auto Strategies gone short @28 - another failure around here ? .. we will see in a couple hours.

Day's Trades
SaaR KaL 08:09 GMT 10/21/2014  - My Profile
I doubt EURUSD goes above 1.2890 ??

Day's Trades
SaaR KaL 08:01 GMT 10/21/2014  - My Profile
Yes Red/
I am shorting around 107ish... and I see that 75 TGT very clear


IMO you guys should look at USDCAD ...it is in middle of of turn
Normally Pairs Slow Down...it is doing it
I doubt it will make another High

USDCHF will short again above .9520

AUDUSD Long below 0.8750 tgt .9300

NZDUSD Longs Below 0.7860 tgt 0.85


Not a USD bear in sight
Paris ib 07:47 GMT 10/21/2014  - My Profile
And still no USD bears.

Day's Trades
london red 07:41 GMT 10/21/2014
yen. looking for downside reaction at 64 and 77. while those cap, downside likely. if not, its 10750 and inverse shs time up there.

Day's Trades
SaaR KaL 07:25 GMT 10/21/2014  - My Profile
Cover all EURUSD Longs
relong around 1.270 area if seen
it wants 1.38 +

cable relong below 1.6100 area

BTW Gold wants 1400 +.. Maybe even 1500
Buying with dips near 1220 is a good idea

eurusd
sd sf 07:25 GMT 10/21/2014
Gold is above 1250 -- so if there is a time for a weak USD - it is now .. but it needs to get moving to keep people interested FX wise.

eurusd
london red 07:19 GMT 10/21/2014
we've got a long wick on the hourly but they're trying to negate that with another rally attempt. if we dont get a double wick here then its likely we'll do the overhead res. if we finish the hour at or below 10 (06) as you say, then downside is going to be explored.

eurusd
sd sf 07:05 GMT 10/21/2014
if it is going to test 1.2870-80 then it would need to hold above 1.2810 as if it goes under there then -> the offers would come back pretty heavy @30-35.

eurusd
london red 06:37 GMT 10/21/2014
fkiwi needs to make the 23.6 of 88/77 its own at 7974. a close abv there required to open up the topside this week.
euro. china gdp enable it to move higher allowing little pullback and so europe generally follows thru until it hits res. i have 59 and 87. once its up there i would chase it too much as the next pullback is never far behind. that said i do expect one last move into 1.29 at some point, with the high somewhere between 12965 and 13017. anything above there would suggest a move drawn out correction but it is not my base view as that would require fed to move away from current path.

$yen
sd sf 06:35 GMT 10/21/2014
apparently some corruption scandal involving some ministers of Abe's Govt - raising some doubts affecting Nikkei etc.. keeping $yen offered more than it would normally.

GVI Forex Blog 05:21 GMT 10/21/2014  - My Profile
(CN) CHINA Q3 REAL GDP Q/Q: 1.9% V 1.8%E; Y/Y: 7.3% (5 1/2 year low) V 7.2%E; GDP YTD Y/Y: 7.4% V 7.4%E - (CN) CHINA SEPT INDUSTRIAL PRODUCTION Y/Y: 8.0% V 7.5%E; INDUSTRIAL PRODUCTION YTD Y/Y: 8.5% V

TradeTheNews.com Asian Market Update: China GDP edges above consensus but still slows to 5-year low; Apple posts strong earnings ***Economic Data*** - Source TradeTheNews.com



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