Good morning all. I woke up to see that nikkei tanked, and geppy rose. I think there is a correlation.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I am holding a short position with a stop loss above that 23 fib area. I am targeting the monthly 5 sma low around 1.9970/60 area.

GBP/CHF and USD/CHF

I have been watching this King's Crown formation on the 4 hour as it develops. If completed, it is a bearish formation.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Orion has a good point. I can see them driving the price down early and taking profits before the swap like they did today. Why not? Daily moms show that Orion may have something there.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Good point. But they can accomplish that after swap is paid, also. It will be interesting.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Exactly. 209 got hammered really hard 2 times on the way up from 192. That level finally got broken and price is trading above it for now. A retest of 209 should get bought hard by those holding long positions from 192 and up.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Wednesday is triple swap day. A serious downmove against the triple swap has rarely occurred, and I would definitely be alarmed if we see that. After swap is paid is another story.....

Auslanco - GBP/JPY and GBP/USD (newstrade)

Look at today's price action.. When did the downmove occur? London/Frankfurt. When did the move back up begin? End of frankfurt/London Watch the money.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Good point.

Auslanco - GBP/JPY and GBP/USD (newstrade)

the money went to commodities also.

Auslanco - GBP/JPY and GBP/USD (newstrade)

yes, but divergence takes a long time to play out.

Auslanco - GBP/JPY and GBP/USD (newstrade)

When did the bubble burst in chinese/asian equities? About the same time yen carry trades returned.......

Auslanco - GBP/JPY and GBP/USD (newstrade)

If the the 38 fib is broken and price trades above it you can expect a test of the next higher fib. It is not rocket science. I do expect a correction but if 209 holds I will be buying and holding at that price. I will cover my long position to ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

Shorting the rallies is good to catch the retraces.

Auslanco - GBP/JPY and GBP/USD (newstrade)

a 50% retrace of the downmove from 251 to 192 looks like 223 to me. See the yellow fibs?

Auslanco - GBP/JPY and GBP/USD (newstrade)

yes, in a way. The USD will bottom out if the market believes that the fed has quit cutting the rate.

Auslanco - GBP/JPY and GBP/USD (newstrade)

how long does a pair need to trend up before traders realize that we are in an uptrend that has been going on for 3 months already? I expect a correction but I am buying dips until that stops working.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I know that you know the answer, Rustyy. Step back a minute and think. Where are the majority of the world's forex reserves? Asia and Russia. You know the fed will announce a rate decision tomorrow. Speculators will drive the USD up because of that. ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

20:00 gmt 4 hour candle shows higher lows. But price is testing a previous swing high from june 16th. The range seems to be getting tighter, and a breakout could be coming. She bounced up hard off the 61 fib, then blew through the 50 fib and the 38 ...

GBP/CHF and USD/CHF

Nice analysis, but I would wait to see that daily close before I would commit.

GBP/CHF and USD/CHF