Trivia Question! Who sees the great USD comeback!

OMG! GBPUSD might be leading the way here. Fundamentally speaking, it makes no sense. But we do know that GBP is also ‘one of those nations’. I’m expecting the USD to make leaps and bounds forwards against the Britons and i said expecting, no confirmations there…

DBS revisited… again

For those bulls, redemption might be near, or is it? We’ve seen the spike, we had the rally, the bears are trying to push down Singapores Financial behemoth again, will they succeed?

FX Trades and more ramblings on the Dollar Index

I have just cleared two trades with a gain 180pips:

SHORT AUDJPY @ 100.12, bought back @ 98.75 for 137pips
SHORT GBPUSD @ 2.0205, bought back @ 2.0152 for 53 pips

The performance as below,
SEP
Realised Loss : -0pips
Realised gains: +704pips

YTD
Realised Loss : -295pips
Realised gains: +709pips

On the Dollar Index

I’m not trying to play against the trend but as we look further into the Index, the weekly and the daily is suggesting that we are likely to see a bottoming formation in the near term.
The momentum in weekly Macd is showing signs of weakening, RSI 14 at mark 30 proved to be a strong support zone for the index.

On the daily, the candles showed signs of weak downward movements, as if its not willing to move down anymore, well it could be consolidating, we’ll just have to see from here. Technical indicators like the MACD and RSI are already showing diverging signals.

Why is it safer to go long on the dollar now? One, you can set close stops. I personally believe so because the dollar has never been so attractive, and no other dollar pair, other than the Euro has managed to cap a new high against dollar even as dollar keeps making a new low…esp the GBP, its proving to be very very vulnerable as of late. I have made a note to myself to keep the GBP shorts on dollar rallys until the credit fears in Britain eases.

Chart Focus : DBS

For pakbosee,

I have attached the requested study in a picture below. Please read with discretion.

Chart Focus : Observations on Correlations

Will the Dollar Index ever retrace? It seems like almost every other currency has been treating the USD like a worthless piece of paper except for one….the GBPUSD. So here’s the plan, i’m expecting a retracement to occur on the selling real soon, and most likely the worst hit will be GBPUSD. Considering its weakness and what not. So when it comes, i’ll remind myself…short the Cable, just hope we don’t break the circuits.

Chart Focus – Mini Dow

Dow is approaching reistance areas, 14000 – 14100 should be closely watched. Expect to see some selling done at these price level. For patterns, we are likely looking at a possible double top or a range breakout indicating dow making new highs. At the current price level and considering the fundamentals i’m very tempted to play down the bullish sentiments.

Chart Focus – GBPUSD…

Is there something wrong with Cable? In the last trade, i placed my stops so far that i literally relieved myself off a potential 250pips profit (settled for a mere 106pips), the selling was voracious and happened in a such short time. I’m considering the possibility of going long again, we’re likely looking at the cheap zone.