Project Summary ( click here to update online ):
Duration: 08 Months , 04 Weeks
Number of Closed Trades Total | This Month: 246 | 5
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7259.9 | +365.4
27 Mar 2013 Daily review by myfxpedia.com:
Again, the market just ignore any bad data and keep power ahead although with single digit. This is truly frustrating and worrying and most of the times when reality bites it will be painful. The way we see this sort of market behaviour is like window dressing, it’s like a perfect storm in the making. Note that tomorrow going to be the last trading day of the month and since the beginning of the year the market has been in the bullish mode for the last 13 weeks. By any measure, a rally or a drop of more than 13 weeks without decent pullback is extremely rare and especially when the rally is without economic fundamental backing is bluntly dangerous. If you recalled on one of our update on 14th and 15th March 2013 that we mention scenario of 1936 and the assessment of Tyler Durban from Zerohedge.com you will see the similarities currently taking shapes.
Tomorrow is also be the day that we’ll have a clear picture of the reaction from the Cypriots when Banks reopen, if and only if they open for business, don’t be surprised to see Authorities order Banks, bank personnel to take an extended sick leave. It’s not banking personnel have a choice of taking sick leave, they have been sick, just as the whole Cyprus banking debacle as well as its own Government have been sick since the day they caught from Greece.
The more we read into the deal of the bail out for Cyprus the more uncertainties, worries and surely feeling sick in the stomach if you are a big account holders, they are now looking down the barrel of at least 40% haircut to their deposit. We are not quite sure that the term “haircut” is appropriate in this case.... it’s more like 2/3 of body chop. And what else? If your funds in the bank that isn’t insure then you are looking at about 80% chop, ouch. Definitely, there are many unhappy customers will soon make their point, one way or another the banking systems in Cyprus will never be the same, can never be trust, if not to say all banks in Euro Group are not to be trust at all.
We will know later during NY trading session if banks will go ahead as schedule to open for business tomorrow. They are now facing problems from business owners who are running of cash to pay employees and shoppers are running low in cash to shop and so if we have further delay in the opening then businesses will suffer and likely a domino effect will taking shapes that eventually crumbling down and the Government of Cyprus have no choice but throwing the towel. Such a terrible predicament.
Impact News today:
05:30 am (NY) GBP – Current Account
08:30 am (NY) CAD – Core CPI
10:00 am (NY) USD – Pending Home Sales.
Technical Analysis:
Our views on the coming week or 2 is not changing and yes we are still confident of the pairs that we currently hold that will playing out accordingly.
Yesterday in the late NY sessions our pending sell order on NZDUSD triggered. See charts below:
https://myfxpedia.com/forum/myfxpedi...DUSD-Daily.jpg
NZDUSD - H4
https://myfxpedia.com/forum/myfxpedi...-NZDUSD-H4.jpg
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
Duration: 08 Months , 04 Weeks
Number of Closed Trades Total | This Month: 246 | 5
Winning Trades Total | This Month: 197 | 4
Pip Gain/Loss Total | This Month: +7259.9 | +365.4
27 Mar 2013 Daily review by myfxpedia.com:
Again, the market just ignore any bad data and keep power ahead although with single digit. This is truly frustrating and worrying and most of the times when reality bites it will be painful. The way we see this sort of market behaviour is like window dressing, it’s like a perfect storm in the making. Note that tomorrow going to be the last trading day of the month and since the beginning of the year the market has been in the bullish mode for the last 13 weeks. By any measure, a rally or a drop of more than 13 weeks without decent pullback is extremely rare and especially when the rally is without economic fundamental backing is bluntly dangerous. If you recalled on one of our update on 14th and 15th March 2013 that we mention scenario of 1936 and the assessment of Tyler Durban from Zerohedge.com you will see the similarities currently taking shapes.
Tomorrow is also be the day that we’ll have a clear picture of the reaction from the Cypriots when Banks reopen, if and only if they open for business, don’t be surprised to see Authorities order Banks, bank personnel to take an extended sick leave. It’s not banking personnel have a choice of taking sick leave, they have been sick, just as the whole Cyprus banking debacle as well as its own Government have been sick since the day they caught from Greece.
The more we read into the deal of the bail out for Cyprus the more uncertainties, worries and surely feeling sick in the stomach if you are a big account holders, they are now looking down the barrel of at least 40% haircut to their deposit. We are not quite sure that the term “haircut” is appropriate in this case.... it’s more like 2/3 of body chop. And what else? If your funds in the bank that isn’t insure then you are looking at about 80% chop, ouch. Definitely, there are many unhappy customers will soon make their point, one way or another the banking systems in Cyprus will never be the same, can never be trust, if not to say all banks in Euro Group are not to be trust at all.
We will know later during NY trading session if banks will go ahead as schedule to open for business tomorrow. They are now facing problems from business owners who are running of cash to pay employees and shoppers are running low in cash to shop and so if we have further delay in the opening then businesses will suffer and likely a domino effect will taking shapes that eventually crumbling down and the Government of Cyprus have no choice but throwing the towel. Such a terrible predicament.
Impact News today:
05:30 am (NY) GBP – Current Account
08:30 am (NY) CAD – Core CPI
10:00 am (NY) USD – Pending Home Sales.
Technical Analysis:
Our views on the coming week or 2 is not changing and yes we are still confident of the pairs that we currently hold that will playing out accordingly.
Yesterday in the late NY sessions our pending sell order on NZDUSD triggered. See charts below:
https://myfxpedia.com/forum/myfxpedi...DUSD-Daily.jpg
NZDUSD - H4
https://myfxpedia.com/forum/myfxpedi...-NZDUSD-H4.jpg
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies