Update Daily Technical Levels from FXCC

alayoua · #41 (**permalink**) 12-09-2011, 10:32

Daily Technical Levels from FXCC 12 Sep 2011

[color=#FF0000]EUR/USD[/color]
[color=#006400]Intraday Technical Levels:[/color]
Pivot: 1.3650.
Preference: SHORT positions @ 1.364 with 1.341 & 1.338 as next targets.
Alternative Scenario: The upside breakout of 1.365 will open the way to 1.372 & 1.3785.
Comment: the RSI is capped by a declining trend line, the pair stands below its new resistance and remains
under pressure.

[color=#FF0000]USD/JPY [/color]
[color=#006400]Intraday Technical Levels:[/color]
Pivot: 77.45.
Preference: SHORT positions @ 77.35 with 76.7 & 76.4 as next targets.
Alternative Scenario: The upside penetration of 77.45 will call for a rebound towards 77.65 & 77.9.
Comment: the pair has broken below an ascending channel support.

[color=#FF0000]GBP/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]
Pivot: 1.5900.
Preference: SHORT positions @ 1.589 with 1.581 & 1.575 in sight.
Alternative Scenario: The upside penetration of 1.59 will call for a rebound towards 1.597 & 1.6.
Comment: the pair remains capped by a key declining trend line and in an intraday bearish channel.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #42 (**permalink**) 13-09-2011, 08:56

Daily Technical Levels from FXCC – 13 Sep 2011

[color=#FF0000]EUR/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]
Pivot: 1.3555.
Preference: LONG positions @ 1.3565 with 1.3785 & 1.388 in sight.
Alternative Scenario: The downside penetration of 1.3555 will call for 1.3495 & 1.341.
Comment: the RSI broke above a declining trend line.

[color=#FF0000]USD/JPY [/color]
[color=#006400]Intraday Technical Levels:[/color]
Pivot: 77.40.
Preference: SHORT positions @ 77.3 with 76.75 & 76.55 as next targets.
Alternative Scenario: The upside breakout of 77.4 will open the way to 77.65 & 77.85.
Comment: the upward potential is likely to be limited by the resistance at 77.4.

[color=#FF0000]GBP/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.5785.
Preference: LONG positions @ 1.5795 with 1.589 & 1.5925 as next targets.
Alternative Scenario: The downside penetration of 1.5785 will call for a slide towards 1.5695 & 1.566.
Comment: the pair remains capped by a key declining trend line but has broken above an intraday bearish channel resistance.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #43 (**permalink**) 13-09-2011, 14:05

Update - Daily Technical Levels from FXCC 13 Sep 2011

[color=#FF0000]EUR/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.3555
Preference: Long positions above 1.3555 with targets @ 1.3785 & 1.388 in extension.
Alternative Scenario: Below 1.3555 look for further downside with 1.3495 & 1.341 as targets.
Comment: the RSI is mixed with a bullish bias.

[color=#FF0000]USD/JPY [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 77.4
Preference: Short positions below 77.4 with targets @ 76.75 & 76.55 in extension.
Alternative Scenario: Above 77.4 look for further upside with 77.65 & 77.85 as targets.
Comment: the break below 77.4 is a negative signal that has opened a path to 76.75.

[color=#FF0000]GBP/USD[/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.575
Preference: Long positions above 1.575 with targets @ 1.587 & 1.589 in extension.
Alternative Scenario: Below 1.575 look for further downside with 1.5695 & 1.5660 as targets.
Comment: the RSI calls for a rebound.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #44 (**permalink**) 14-09-2011, 10:44

Disambiguation – Aka Forex Scalping

Scalping is the act of removing another person’s scalp or a portion of their scalp, either from a dead body or from a living person. The initial purpose of scalping was to provide a trophy of battle, or portable proof of a combatant’s prowess in war. Eventually, the act became motivated primarily for financial reasons; people received payment per scalp they acquired.

Scalping is often associated with frontier warfare in North America, and was practiced by Native Americans, colonists, and frontiersmen across centuries of violent conflict. Some Mexican (Sonora and Chihuahua) and American territories (Arizona) paid bounties for enemy Native American scalps. Contrary to popular belief, scalping was far from universal amongst Native Americans. Scalping was practiced by the ancient Scythians of Eurasia. Herodotus, the Greek historian, wrote of the Scythians in 440 BC;

“The Scythian soldier scrapes the scalp clean of flesh and softening it by rubbing between their hands, uses it thenceforth as a napkin. The Scyth is proud of these scalps and hangs them from his bridle rein; the greater the number of such napkins that a man can show, the more highly is he esteemed among them. Many make themselves cloaks by sewing a quantity of these scalps together.” – credit Wikipedia.

If you’re of a certain age you’ll recall the cowboy western propaganda films of the 50′s-60′s in which the indigenous population of a nation were portrayed as violent non compliant insurgents armed with little except crude weapons to fight their colonial oppressors. Imperialists arrived using technology the indigenous population (Indies or Indians) had never seen before. The invading forces then claimed the Indians mineral rich land as their own by force whilst attempting ideological conversion on the Indies. It’s a blessed relief that in circa 200 years of civilised growth we’ve moved further on as a global society to not engage in such practices. Oh..er, moving on..

Similar to the erroneous myth that scalping originated in North America and not ancient Eurasia, the term “scalping” is one of the most over used and misused terms heard in the retail forex industry. Ask different sets of traders what “scalping” is and they’ll offer up a variety of theories. The origins of the term relate to the trader attempting to take a small pip profit including (or only aiming for) the ‘spread’. As such you’d require the best technological set up and a lightening quick feed to the exchange and preferably not wireless. You’d also require level 2 access/see the DOM, the depth of the market. You’d be able to see the orders, the difference between the bid and ask, and bam! you’re in, seconds later you’re out, profit banked.

Due to the advent of online trading the term “scalping” has recently ‘evolved’ to encompass trading off low time frames, typically one to five minutes, or tick charts. This version of scalping results in traders taking any number of trades during their two predominant sessions, morning and afternoon, London and New York. Taking between ten to a hundred trades plus on a single currency pair, depending on how the ‘surf is up’ in the forex market that day, is not unusual depending on the preferred technique… Read the full article
http://blog.fxcc.com/disambiguation-aka-forex-scalping

Source: FX Central Clearing Ltd. (FXCC BLOG)

alayoua · #45 (**permalink**) 14-09-2011, 11:18

[color=#4682B4]Daily Technical Levels from FXCC 14 Sep 2011[/color]

[color=#FF0000]EUR/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.3730.
Preference: SHORT positions @ 1.372 with 1.3555 & 1.3495 in sight.
Alternative Scenario: The upside penetration of 1.373 will call for 1.379 & 1.388.
Comment: the RSI lacks upward momentum. A resumption of the short-term bearish trend is expected.

[color=#FF0000]USD/JPY [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 77.10.
Preference: SHORT positions @ 77 with targets @ 76.75 & 76.55.
Alternative Scenario: The upside breakout of 77.1 will open the way to 77.4 & 77.65.
Comment: the RSI lacks upward momentum.

[color=#FF0000]GBP/USD[/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.5820.
Preference: SHORT positions @ 1.581 with targets @ 1.5695 & 1.566.
Alternative Scenario: The upside breakout of 1.582 will open the way to 1.587 & 1.589.
Comment: the pair remains in an intraday bearish and the RSI is capped by a declining trend line.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #46 (**permalink**) 14-09-2011, 14:01

Update Daily Technical Levels from FXCC 14 Sep 2011

[color=#FF0000]EUR/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.367
Preference: Long positions above 1.367 with targets @ 1.379 & 1.388 in extension.
Alternative Scenario: Below 1.367 look for further downside with 1.359 & 1.3555 as targets.
Comment: the break above 1.367 is a positive signal that has opened a path to 1.379.

[color=#FF0000]USD/JPY[/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 77.1
Preference: Short positions below 77.1 with targets @ 76.75 & 76.55 in extension.
Alternative Scenario: Above 77.1 look for further upside with 77.4 & 77.65 as targets.
Comment: a key declining trend line maintains downward pressure.

[color=#FF0000]GBP/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.576
Preference: Long positions above 1.576 with targets @ 1.587 & 1.589 in extension.
Alternative Scenario: Below 1.576 look for further downside with 1.5705 & 1.566 as targets.
Comment: the RSI has just broken above a bearish trend line.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #47 (**permalink**) 15-09-2011, 09:14

Daily Technical Levels from FXCC 15 Sep 2011

[color=#FF0000]EUR/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.3625.
Preference: LONG positions @ 1.3635 with 1.379 & 1.384 as next targets.
Alternative Scenario: The downside breakout of 1.3625 will open the way to 1.3555 & 1.3495.
Comment: the pair has broken above a declining trend line and is now trading in a slightly ascending channel.

[color=#FF0000]USD/JPY [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 77.00.
Preference: SHORT positions @ 76.9 with 76.55 & 76.4 in sight.
Alternative Scenario: The upside penetration of 77 will call for 77.25 & 77.4.
Comment: the RSI lacks upward momentum.

[color=#FF0000]GBP/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.5815.
Preference: SHORT positions @ 1.5805 with targets @ 1.5705 & 1.566.
Alternative Scenario: The upside penetration of 1.5815 will call for 1.587 & 1.589.
Comment: the pair remains in an intraday bearish channel and the RSI lacks upside momentum.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #48 (**permalink**) 15-09-2011, 14:27

[color=#FF0000]Happy Lehman day! Have the masters of the universe lost their kryptonite, or just their marbles?[/color]

On October 5th 2010 there was an audible gasp in the French courtroom at the historic Palais de Justice when the ‘rogue trader’ Jérôme Kerviel was convicted of a breach of trust, computer abuse and forgery. The 33-year-old was convicted of all three charges and was sentenced to five years’ imprisonment, with two years suspended.

It was not the ‘severity’ of the sentence that drew the gasps and sharp intake of breath, it was the damages, set at €4.9bl to Société Générale, this was the total sum of money his risky betting strategies cost his former employers in January 2008. The Brittany-born computer expert was described as a quiet cynical operator who exploited his technological knowhow and market understanding to fool his employers. Exposing the bank to uncovered trades worth €50bn, more than Société Générale’s total share capital at the time.

“The varied nature of his means of forgery and deceit were rivalled only by the dazzling reactivity, the constant cool-headedness and the deceptive serenity which he was able to exhibit on an everyday basis,” said the judge. On reflection it may have been more appropriate if the gasps had been replaced with laughter, whilst massive the symbolic damages award was preposterous, if the idea was to send out a message then to who and how? The lenient sentence alone would not serve as a deterrent.

Irrespective of his actions the bank was later part of an ECB bank bail out, despite which its share capital currently stands at only €14 billion. It could be argued that the ‘criminals’ who have lost circa €38 billion of their bank’s value this year are simply the usual suspect mixture of incompetents and blusterers of the banking fraternity and we’ve now come to accept this tight brotherhood will always escape punishment. However, small investors, pension fund managers and retirees might not be so accepting, they would no doubt put the current management of SocGen first in the queue for an appointment with Madame Guillotine ahead of Jérôme Kerviel.

Many commentators could be forgiven for treating with suspicion the allegations that have emerged this morning suggesting that another rogue trader has apparently run amok ultimately causing an unauthorised loss of circa $2 billion. As a result of this unspecified loss UBS, Switzerland’s biggest bank, may now be unprofitable in the third quarter. This is the bank that had to raise circa $45 billion from investors after the investment bank division recorded 57.1 billion Swiss francs ($65 billion) in cumulative pretax losses in three years through 2009. There will be inevitable calls for the investment arm of the bank to now shrink dramatically or close.

The sad irony and co-incidence is that this alleged fraud and loss has come on the third anniversary of Lehman bros filing for bankruptcy, this will no doubt raise doubts as to how comprehensive the supposed regulatory and self compliant improvements put in place since the banking collapse in 2008-2009 actually are. Whilst the Jérôme Kerviel ‘incident’ could be ‘excused’, given it occurred at the height of the banking crisis, this latest event has happened after back office regulations and compliance were now supposedly water tight.

This incident will actually have many in the mainstream media sharpening their pens to point out that no lessons have been learned since 2008 and to ask the question, “if this can happen after 2008 then how many other major investment banks have ‘sleeper cell’ rogue traders stalking their dealing rooms and floors?” To imagine that this latest ‘miscreant’ is the only rogue amongst the hundreds of thousands employed in the industry, is stretching belief to tensile breaking point.
http://blog.fxcc.com/happy-lehman-da...-their-marbles

Source: FX Central Clearing Ltd. (FXCC BLOG)

alayoua · #49 (**permalink**) 15-09-2011, 14:51

Update Daily Technical Levels from FXCC 15 Sep 2011

EUR/USD Intraday Technical Levels:

Pivot: 1.37
Preference: Long positions above 1.37 with targets @ 1.384 & 1.388 in extension.
Alternative Scenario: Below 1.37 look for further downside with 1.365 & 1.3625 as targets.
Comment: the RSI is supported by a rising trend line.

USD/JPY Intraday Technical Levels:

Pivot: 76.8
Preference: Short positions below 76.8 with targets @ 76.4 & 75.95 in extension.
Alternative Scenario: Above 76.8 look for further upside with 77.1 & 77.25 as targets.
Comment: a key declining trend line maintains downward pressure.

GBP/USD Intraday Technical Levels:
Pivot: 1.578
Preference: Long positions above 1.578 with targets @ 1.584 & 1.5870 in extension.
Alternative Scenario: Below 1.578 look for further downside with 1.5735 & 1.5705 as targets.
Comment: the break above 1.578 is a positive signal that has opened a path to 1.584.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com

alayoua · #50 (**permalink**) 16-09-2011, 08:37

Daily Technical Levels from FXCC 16 Sep 2011

[color=#FF0000]EUR/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.3940.
Preference: SHORT positions @ 1.393 with 1.3765 & 1.3705 as next targets.
Alternative Scenario: The upside penetration of 1.394 will call for 1.3975 & 1.4015.
Comment: the 1.395 former support area is now acting as a resistance. The pair is capped by a declining trend line.

[color=#FF0000]USD/JPY [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 76.60.
Preference: LONG positions @ 76.7 with targets @ 77.05 & 77.25.
Alternative Scenario: The downside penetration of 76.6 will call for 76.4 & 76.3.
Comment: the RSI is supported by a rising trend line & the pair has broken above a declining trend line.

[color=#FF0000]GBP/USD [/color]
[color=#006400]Intraday Technical Levels:[/color]

Pivot: 1.5870.
Preference: SHORT positions @ 1.586 with 1.5735 & 1.5705 as next targets
Alternative Scenario: The upside penetration of 1.587 will call for 1.5915 & 1.595.
Comment: the pair is capped by a declining trend line.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com