₦airaland Forum

prince123: yeah,,but incase u wanna do anytin leave before 12pm,,then you can watch out when the ecb starts you go see ajasco when the currencies go they dance,,lol

lol ... u no trade European Index?

puskin: See the news.......just add +6hrs to the times to gives U the corresponding naija times

1PM and 2:30PM are the big ones uh?

puskin: LOG into ur DEMO........and enter these trades.

@ayox2003...........also do likewise cos na U dey gimme the brain wave.

whats the rationale behind the trades?

any reason why you used 1 day and not 0 day TF?

thanks

toluxa1: Good morning to you all. I doubt if I am gonna trade today. At most one bet. Looking at forexfactory calender is scary. Too many high impact news on a lot of currencies.

what time(s) are we expecting the news?

make i go look for TimeTable

Good morning, house!

puskin: Good for me......the perfect time to test my "does not touch bet". Im going bets on all the pairs BOM has to offer on that bet.
If the trades can withstand the high volatility expected today and tomorrow......ehnnnnnnn.

lets go there!

ayox2003: A recap of how the Euro behaved today. Thought I should share it before going to bed.



Final Goodbye.

you no trade Asia? with that kind news? me sleep off

prince123: lets see how it turns out at the end of the day....

Gold closed in profit

prince123: for gold is same as end of day 23.59.59gmt

yup! for commodities and forex.

its the indices/stock exchanges that have different opening/closing times based on their location.

ayox2003: EnterPro,

Nice one. Still had to skip the Commodities.

While the currencies are also a good option, I strongly believe the Indices would be a very good place to trade.

Lets keep our fingers crossed.

Frawzey.

but how to trade the indices is the problem!

market open, close or mid market?

that problem doesnt exist with forex, and is minimised in commodities.

prince123: please i want to understand something, if you go a 0 day bet is it that it ends at the close of the day or it ends at the close of trading.

it ends at the close of trading, but your winnings reflect at the end of day.

ayox2003: I envy u guys.
I have never ever traded on commodities because I dont get to have access to info as quick as they come. One thing I know is: When USD is down, GOLD is up. Because it serves as an alternative for investors.
I may start trading it especially when currencies are really messing up like we have it now.


Frawzey.

make we build what-if scenarios against thur/fri news:

nzdusd
The NZD/USD has been the benefactors of a weak USD, adding 0.0015 in today’s session to trade at 0.8052. With US markets closed for the holiday there will be little action elsewhere. This morning saw a release from China on more negative implications on the Chinese economy which is a negative for the kiwi.

As markets though move from risk aversion, the kiwi and other commodity currencies as well as commodities continue to gain.


audusd
This pair is sensitive the headline risk, and as such it should be monitored as there are three major economic event between now and the end of the day Friday. The meeting buying the ECB, as well as the meeting by the Bank of England and the nonfarm payroll numbers will give the markets plenty to think about over the next three sessions. The real question becomes do the markets get what they want, and if so how will they react to it?

It is pretty much assume that the ECB will be cutting rates by 25 basis points. It is also assumed that the Bank of England will begin to purchase another hundred million Pounds worth of gilts in order to facilitate easing in that country. Either one of these two announcements going the wrong way: have a negative impact on the Australian dollar. And then of course, there’s that pesky nonfarm payroll number on Friday which to play absolute havoc with it.


usdjpy
This pair tends to be very sensitive to the nonfarm payroll number, and considering that it comes out this Friday it is very possible that this pair will do very little between now and then. However, if we get a good jobs report, it’s very possible that this pair will finally break above the 80.60 level and produce a long-term buy-and-hold type of position. As for selling, we simply will not do it because of the Bank of Japan and the fact that it is working so hard against the value of the Yen below this area.

Traders were positioning themselves before the holiday to be prepared for the ECB and BoE rate announcements on Thursday and the US Nonfarm payroll report due on Friday. Negative eco data continues to plague the Japanese economy, where a boost to the Tankan report earlier helped support the JPY, an under forecast report on average earnings continued to weakened the yen. The pair have remained in the upper 79 level all week. JPY is weaker, down 0.4% from yesterday’s close as market participants reverse safe haven flows in favor of risk assets. The shift is being driven by expectations of wide-spread easing from central banks, given yesterday’s PMI data that underlined the global nature of the recent deceleration in growth


eurjpy
The EUR/JPY is trading up at 100.33 as European markets close for the day. US markets will close early today and be closed on Wednesday for the US holiday.

JPY is weaker, down 0.4% from yesterday’s close as market participants reverse safe haven flows in favor of risk assets. The shift is being driven by expectations of wide-spread easing from central banks, given yesterday’s PMI data that underlined the global nature of the recent deceleration in growth. Whereas the euro continues to climb as the expectations that the ECB will reduce rates at its meeting on Friday.


eurusd
July 4 is a trading holiday in the U.S.on Wednesday so trading is expected to be light; however, volatile moves may take place because of the thin trading conditions. On Thursday, the European Central Bank is expected to announce an interest rate cut. Look for the ECB to cut its benchmark rate from 1% to .75%. This rate is not quite as low as the U.S.and the U.K., but at least in the same direction. The move by the ECB is designed to provide some relief to the Euro Zone banking community.

Traders have to watch for weakness on Thursday since a change in the interest rate differential often puts pressure on the currency associated with the rate cut. This could mean a challenge of the lows for the week.

On Friday, the U.S. Non-Farm Payrolls report will be released. Jobs growth is expected to remain low. Any weakness in the U.S.economy may actually trigger a rally in the Greenback.

So despite last week’s bullish news regarding the European Sovereign Debt and Banking System Crisis, the Euro is not out of the woods and could end the week on a weak note.

Trading will remain thin for the balance of the week, even though there are major events on Thursday and Friday. There was very little in the way of eco data today and tomorrow’s calendar is thin also.

EUR is flat from yesterday’s close and down 0.6% since Friday as markets react to weak data and headlines regarding Finland and the Netherlands’ opposition to ESM sovereign bond purchases, in addition to Finland’s request for collateral in exchange for aid, in a scenario reminiscent to that which was seen during last year’s second Greek bailout. Spain, Greece and Italy have been quiet and remained off the front pages since Friday’s announcement, in the hopes that this plan will be approved. EUR is trading around 1.2600, and last week’s rally failed to reach even the high from mid-June that followed the Greek election. Recent data have been weak, with another increase to the EU unemployment rate, now at 11.1% and with PMI’s remaining near 3 year lows. This week’s key event for EUR remains the ECB meeting on Thursday, where expectations are for a 25bp cut in the policy rate to 0.75%. While a rate cut had been discussed at the last meeting, a majority of the governing council had voted to maintain rates. It has since been rumored that a majority now favors easing rates.

On Friday the US Nonfarm payroll data is set to be released, markets are hoping for a positive report to help jump start the US economy, but on the flip side, investors believe if the report is negative that the Fed’s will be pushed into action.

gbpusd
Sterling is close to flat, despite the release of an under 50 construction PMI report as markets look to Thursday’s BoE meeting. Expectations are for a £50bn increase to the BoE’s asset purchase program, to £375bn. BoE Governor King, along with MPC members Miles and Posen, had voted for a £50bn increase at the previous meeting; however a majority of the MPC voted to maintain the size of the asset purchase program given uncertainty surrounding the Greek election outcome from mid-June. Weak domestic data over the past month (including yesterday’s sub-50 PMI) have generated additional dovish comments from members of the previous majority, increasing the likelihood of easing this week.


usdcad
The USD/CAD is trading at 1.0148 in the early part of the NA session. Markets will be thin with little eco data and the US holiday tomorrow. The loonie is up 0.2% from yesterday’s close as a result of strengthened oil prices. Given that there are no domestic data releases until Friday’s employment report, CAD movement is likely to take the lead from broader market sentiment. Traditional drivers such as equities and oil are also likely to have an impact despite the recent decline in correlations, and ongoing headline risk from Europe will keep investors focused on sovereign ratings and debt metrics – a positive for CAD. Near term rate expectations remain below the BoC’s 1.0% overnight rate, however an improvement has been seen since May 31.

The CAD should be very quiet until US markets are back in full swing.

Silver
Silver is trading at 28.010 adding 0.51 today, benefiting from its precious metal status as well as part of the medals pack, which both moved up. Markets will close early today and US markets are closed on Wednesday for the 4th of July Independence Day celebrations. There will be very light volume for the rest of the week.

Anticipation regarding ECB reducing interest rate would be keeping the market sentiment buoyed. Even, shrinking in global manufacturing especially the US ISM number sinking below 50 indicated severe weaknesses for the economy. Once again that optimism for Fed easing has heightened. Silver therefore may be demanded as haven along with gold. Reports today may also indicate the Euro area PPI is cooling and thereby proving space to ECB to cut its mainframe interest rate which would be supportive for metals.

Crude
Crude Oil is trading at 86.34 as geopolitical tensions mount between Iran and the west, though more about rhetoric then action. Iranian lawmakers are trying to legislate action in the Gulf of Hormuz to stop any ship carrying oil through the passageway. This threat is not new and the last time when the military became involved not the politicians, NATO pushed them out of the way and forced them to back down. There is no possible way that Iran will be able to block the Gulf so it is politicians making idle threats and noise.

Otherwise on the eco front there is little data to support a move upwards in the crude oil, except the hope that a rate cut by the ECB will stimulate growth, and the always present dreams of Fed intervention in the US. Market rumors are beginning to surface saying that the Fed’s or possibility a global action by the central banks will relax monetary and rates to stimulate growth. No one is sure and everyone dreams.

You have to keep in mind that the Friday session features the nonfarm payroll report United States, and this will certainly have an effect on the oil markets. Interestingly enough though, a weak nonfarm payroll number could eventually push this market much higher. The reason being is that it is well known now that the Federal Reserve is paying attention to the employment number more than anything else in order to make its decisions on easing. If it goes the route of quantitative easing again, this will hurt the dollar and will certainly boost commodity prices worldwide. This will be no different in the oil markets.

With all this being said, we do favor the upside in oil for the short term. However, this week will feature several headline risks over the next couple of days. In the ECB meeting we have the possibility of a disappointment, the Bank of England also has a meeting that could move markets, and then of course the jobs number in the United States. With all this being said it will be a choppy market more than likely, but it does look like we are starting to see a bit put it back into this market

gold
Gold sailed today, and is trading at this writing at 1616.35 after trying to reach the 1620 level.

Markets have been most positive sentiment, with the US holiday upon us, and gold is reaping the benefits of market expectations for further monetary easing around the globe to stimulate economic growth. The European Central Bank is expected to lower rates on Thursday, and China is expected to relax the minimum reserve requirement ratio for banks again. It seems that investors these day, rely more on central bank rates and monetary policy then they do on good old fundamentals of supply and demand, the more that the central banks pump out the more that speculators can reap.

Rumors are swirling about a global central bank action to jumpstart the global economy, this is possible but improbable.

On Thursday the ECB and the BoE have statements and rate decisions. This week the RBA held rates. Markets are expecting supportive action from the Bank of Japan in their upcoming meeting. And the Fed’s are being pushed into action as the economy has stalled and most all of the eco data is negative. This week issues the Nonfarm payroll report and unemployment figures, if these numbers are under forecast, we will see markets moving to anticipate Fed action.

SOURCE: www.FxEmpire.com

ayox2003: I envy u guys.
I have never ever traded on commodities because I dont get to have access to info as quick as they come. One thing I know is: When USD is down, GOLD is up. Because it serves as an alternative for investors.
I may start trading it especially when currencies are really messing up like we have it now.


Frawzey.

hmmmn, its heading towards the support level (1611 - 1614), in case you still want to get in.

prince123: gold just they dance ajasco

no mind am jare. na dis news i take place am:

Gold sailed today, and is trading at this writing at 1616.35 after trying to reach the 1620 level.

Markets have been most positive sentiment, with the US holiday upon us, and gold is reaping the benefits of market expectations for further monetary easing around the globe to stimulate economic growth. The European Central Bank is expected to lower rates on Thursday, and China is expected to relax the minimum reserve requirement ratio for banks again. It seems that investors these day, rely more on central bank rates and monetary policy then they do on good old fundamentals of supply and demand, the more that the central banks pump out the more that speculators can reap.

Rumors are swirling about a global central bank action to jumpstart the global economy, this is possible but improbable.

On Thursday the ECB and the BoE have statements and rate decisions. This week the RBA held rates. Markets are expecting supportive action from the Bank of Japan in their upcoming meeting. And the Fed’s are being pushed into action as the economy has stalled and most all of the eco data is negative. This week issues the Nonfarm payroll report and unemployment figures, [s]if these numbers are under forecast, we will see markets moving to anticipate Fed action.
[/s]
FxEmpire

ayox2003: What platform do use?

BOM na. why?

the scalping thing shey? na going short e mean o!

ayox2003: No wonder. Cool one there.
Lost the UK Index. Cos I used a long time interval. But suddenly the stocks rose like magic. I'm still tryna find-out why it changed it game. Maybe cos of the Irish thingy.

Frawzey.

sorry bro. the FTSE ended up closing lower sha.

sifting through news at the moment.

toluxa1: Wait o, are u on BOM or Forex? Scalping as I knw kinda requires instant entry, but BOM doesn't allow that on Indices?

ehn ehn? i no know oh!

i mean i'm taking short trades (10 - 20mins) on it as it falls and rises, as against a better 1hr to 2hr TF.

EnterPRO: support for FTSE seems to be moving up every hour. Just went in for 2hrs (13h20 + 100 mins).

didnt see those 6 on time so didnt enter.

closed in profit.

Trying out the Canadian Index (as US no open). Very Bullish at the moment. Scalping it.

prince123: gold has moved back to 1614,,even touch 1613,,let's see how a bet on rise 0 days goes from here,,thanks bro

congrats!

ayox2003: Amen o. Ha. E no funny at all. How many did you win out of the six?

I've decided to take a chill pill for now. Although I still do some risky funny daring trades sha.

Why the Swedish and Irish? I already went short for UK Index this morning sha (part of the risking daring trades )

Frawzey

Just saw this:

The results of the EU Summit have brought forward the return to the bill market, as Ireland obtained some promises regarding the re-financing of its bank bail-out costs via the ESM, after Spain obtained a direct recapitalization of its banking sector.
Of course, it is of yet not clear under which modalities Ireland would be able to tap the ESM. It is unlikely it will be able to refinance the whole of that cost. However, it suggests that the Irish debt and the cost of debt will be lower, which is a big positive for the country, that makes its bonds again more attractive for private investors.

The Irish National Treasury Management Agency announced an auction of Irish Treasury Bills for tomorrow. It will auction a single line (15 October 2012 for an amount of €500M). The Irish government shut the primary issuance market after having received a bail-out in November 2010. So, this return is an important sign, even if it is in the Bill and not the bond market. The bail-out program foresees a return to the bond auction in 2013.

ayox2003: Its low now sha but dont know if its gonna close lower. It might be risky entering it at this time as the market remains like four hours.

No be that one I dey talk. Okay, no wahala. I went for FTSE at 5678.94 and its at .81 now. It stil hovering for now. But I believe it would still go down cos the UK Service PMI was lower than expectations. CAC and DAX too were down cos of the low French PMI. I didnt trade on those ones cos I thought today was supposed to be the ECB's announcement to cut interest rates. Anyways, lets see how it goes sha.

Frawzey

support for FTSE seems to be moving up every hour. Just went in for 2hrs (13h20 + 100 mins).

didnt see those 6 on time so didnt enter.

ayox2003: Amen o. Ha. E no funny at all. How many did you win out of the six?

I've decided to take a chill pill for now. Although I still do some risky funny daring trades sha.

Why the Swedish and Irish? I already went short for UK Index this morning sha (part of the risking daring trades )

Frawzey

do you think the Europe Session will close high or low?

prince123: how can one scalp on bom

change the START TIME from Now* to the next available slot, then enter the DURATION you want.

ayox2003: Amen o. Ha. E no funny at all. How many did you win out of the six?

what 6? The end of June bets? Won all 8 na.

I've decided to take a chill pill for now. Although I still do some risky funny daring trades sha.

Why the Swedish and Irish?

they both had/have a consistent pattern. easy to predict.

I already went short for UK Index this morning sha (part of the risking daring trades )

Frawzey

wasnt sure if the UK would open high or low, but i knew it would fall after some minutes. Placed a fall bet for 1hr after opening and won. its been ranging since so moved to the Swedish and Irish.

Funny thing is that CAC, DAX and FTSE have the same pattern.

prince123: thats good bro keep it up,,the gold are you looking at rise or fall

Gold is sure to rise at 0 day. Seems it currently has a resistance of 1620 and a support of 1615. I got in at 1614, though i saw it go down to 1611 earlier.

If you can get in between 1612 and 1615, you can scalp till it gets to 1620, or bet rise till close of market.

I'm currently scalping the bullish Irish Index and the bearish Swedish Index. Swinging with NU too.

@Ayo: we no go see dat kain thing again o!

bommaster: bet won Thank God

very good price u got there!

toluxa1: BET LOST

those 5mins TF no be am at all!

toluxa1: Thank God, BET WON

same here @ 2mins out!

puskin: Just had a close call.....I mistakenly entered my bet to end in 5mins....@1.228

Thank God I WON.

lucky u!

Didnt see the AJ signal sha, or u mean AU is falling already?

bommaster: Alart! Alaty!! Alart!!! AU to fall to close by 2.06

enter mine @ 1.0225 Goodluck

got in at 1.023

toluxa1: Yes sure!

how far? That Friday news still fit enter Asia market so?

puskin: Hmmmm.......good morning to all BOMers.

good morning, and a happy new month to all !

zinosleek: If u need BOM alert pls mail ewomachris@yahoo.com

drop the alerts on this thread, lets feel them first na?