Comments on: GBP/JPY Weekly Analysis (Wk Strt Jan/10/10)

By: SanMiguel

SanMiguel — Fri, 15 Jan 2010 23:05:50 +0000

Xmas rally – there’s always 1 pair moving somewhere, just happened to be the USD moving up this time round.

By: NickB

NickB — Wed, 13 Jan 2010 17:14:02 +0000

@Chris W:

Sorry haven’t been paying much attention to comments. Just email me man cotnact form on the site will do that way I can email you back.

By: chris w

chris w — Wed, 13 Jan 2010 17:03:23 +0000

Hey Nick so what gives???????????????

By: Art

Art — Mon, 11 Jan 2010 23:16:13 +0000

Thanks buddy!!! I plan on buying your new Price Action Analysis using profits I make using your strategy & knowledge I’ve gained from you. That you’ll be paying for it in an direct way or you could say it was free. Thanks again! Keep it up!

By: Brigitte

Brigitte — Mon, 11 Jan 2010 09:26:49 +0000

Hi Nick,
good to see your weekly analysis again. Looking at my charts and my lines I’m very happy to see the confirmation in your video. (I still don’t really trust myself…)
Thanks for your work.

By: benji

benji — Mon, 11 Jan 2010 07:24:47 +0000

We really appreciate big time for your weekly analysis.Confidence to take positions is exactly what newbies like me crave for.You make us feel like trading machines already..

By: Dave Walker

Dave Walker — Mon, 11 Jan 2010 02:30:18 +0000

Nick. The reason why bad numbers out of the US in the last 2 months or so have been beneficial to the dollar is down to risk appetite and risk aversion.
As the world moves out of recession the commodity currencies (AUD CAD NZD) benefit as the demand for raw materials grows.

Bad numbers out of America (which naturally leads the way as far as economic indicators are concerned) throws this recovery into doubt and there is a “flight to safety” – safety being gold, the USD and the Japanese Yen and away from the commodity currencies.

Obviously if traders are buying dollars (which they have been for the last 5 weeks) they are selling the GBP and the EUR.

Most of the dollar strength in the last 4 weeks has been down to abnormally good non-farm payroll numbers for November. Last Friday the non-farm payroll numbers were unexpectedly bad and the dollar has been selling off since and crucially the flight to safety didn’t occur.

Whether this means the markets have returned to “normal” (i.e. bad US economic data = bad for the dollar) is as yet unclear. I think you may well be right in your assumption because solid economic numbers out of Australia and Canada would appear to be attracting buyers of these currencies irrespective of economic data out of the US.

Wednesday/Thursday (depending on your time zone) is key when the Aussie Employment change and Unemployment rate come out. Better than expected numbers here could see the AUD/USD pushing .9500 and AUD/JPY pushing .90.
Personally I’m long A/J A/U N/J and N/U with tight stops as I expect the numbers to be good.

On the flip side, bad numbers could throw the whole economic picture open again and we could see very turbulent Forex markets for the next quarter.

Time will tell.

Cheers.

By: NickB

NickB — Sun, 10 Jan 2010 23:17:21 +0000

@PipRanger:

I will make a post on that very soon.

By: NickB

NickB — Sun, 10 Jan 2010 23:17:00 +0000

@JL Trader:

No special reason it is jsut the start of the year so I want to let the market settle before I start trading scalp lines on the other pairs.

By: NickB

NickB — Sun, 10 Jan 2010 23:16:05 +0000

@Charley:

No, I just mean I am actively trading reversal formations and scalp lines. While reversal formations certainly can and do for on scalp lines from time to time I am not suggesting any connection by what I said on the video.