Junk!

Comments Welcome Everyone!

http://www.bloomberg.com/news/2012-06-26/spain-poised-for-downgrade-to-junk-as-default-swaps-near-records.html

Spanish Numbers

Hi All!  Well, since EUR/USD has been creeping up this morning, it looks like everyone is waiting for the Spanish Bank Assessment report in a few hours.  The thing is, as I usually say to all the retail guys out there, is that is the report is horribly bad, and EUR tanks, then the big guys will be buying all morning to shake out shorts and get in a better position for their OWN shorts.

Keep your eyes peeled, for the tank as EUR sits around 1.2666 last

Order Board---

Compliments of the fellas at FX Live, Useful site!

EUR/USD:  Offers 1.2630/50, buy stops above, Bids, 1.2550/70, sell stops through 1.2540

GBP/USD:  Offers 1.5700/10, Bids 1.5615/25

EUR/GBP: Offers 0.8055/65 and 0.8090/00, bids 0.8025/30, 0.7995/05

USD/JPY:  Bids 78.80/90, sell stops through 78.75, (Tech supp78.76-200 day MA) Bids 78.50/60 (semi official), sell stops through 78.50. Offers 79.30/50 buy stops above ahead of offers 79.70/80 (sovereigns) and 79.90/80.00 (exporters), buy stops above and through 80.35

EUR/JPY:  Offers 99.80/00, Bids from 99.20 trailing down to 99.00, sell stops just below

GBP/JPY:  Tech supp 123.00/20. 200 day MA 124.03 tech res

EUR/CHF: Bids 1.2000/10(SNB), Offers 1.2025/35 buy stops through 1.2050

AUD/USD:  buy stops through 1.0170, Bids 1.0100/10, 1.0080/00 from real money, sovereigns (55 day MA @ 1.0088), sell stops below ahead of more bids 1.0050/70, sell stops below 1.0050

AUD/JPY: Tech res 80.70/74 (200/55 day MA) bids 79.80/90

EUR/AUD: Tech res 1.2470 61.8% of this year’s rally, ahead of offers 1.2490/00. Bids 1.2395/05 and tech support 1.2350/55

Slightly Off the Subject But Damn! Why Not!

Don't Believe the Hype!

I thought it was all a bounce..I've said it before and I'll say it again!   Don't believe the Hype and beware Euro Bulls!  Even with the FED thinking about easing I doubt it'll slow the EUR descent with everyone out there

:http://www.bloomberg.com/news/2012-06-18/euro-remains-lower-as-g-20-leaders-discus-europe-crisis.html

Levels on the Hedge Fund Order Board, Compliment of Forex Live:

• EUR/JPY buy stops at 101.00, offers at 1.0150 and 1.0200. Sell stops at 98.50
• USD/JPY support at 200dma at 78.76, bids at 78.50 with stops below. Buy stops at 79.50 with more at 79.95 and large ones above 80.35
• EUR/USD offers at 1.2600/10
• AUD/USD strong offers at 1.0140/55, stops above 1.0170. Demand at 1.0065/50

Too Close!

http://www.bloomberg.com/news/2012-06-17/greek-parliamentary-vote-too-close-to-call-exit-poll-shows.html

THE STRATEGY FOR THE BIG BOYS

Hi All,

Well, I just stumbled across something on DonnaForex.  There is a new Stat Arb system coming to MT4 from a gigantic hedge fund!  I have 12 years of experience in FX markets ranging from working on a dealing desk at a very large trading floor for one of the largest FX banks in the world and I have to say, that this works!  This isn't a "Holy Grail" or any other type of system to that effect.  It's a solid strategy that really when coupled with MM skills is very successful.

Get it now below.  Yes, its an affiliate link, but who cares.  I told you about it and when you're successful after years of frustration with forex, please just come back to this blog and thank me.

GREXIT?

THIS IS A PRETTY GOOD ARTICLE ABOUT HTE POSSIBLE REPERCUSSIONS OF GREECE:

http://www.fxstreet.com/fundamental/market-view/the-european-debt-crisis-chronicles/2012/06/01/03/

Downward Pressure on EUR/USD

Well everyone, with EUR/USD sitting around 1.2504 we definitely are seeing offers (see last post).  It was short lived hype, and with a date cat boune and EUR moving below the 100 MA it looks like this downward pressure will continue.  I would say that barring any rumours or new on Tuesday, look to Wednesday for news in the US to help with direction.  Strong numbers in the US will boost USD, and put even more pressure on the EUR.  Technically we sit at these levels:

S3	S2	S1	R1	R2	R3
1.2343	1.2374	1.2406	1.2546	1.2578	1.2609

THE SPANISH BAILOUT ON THE OPEN

With Australia on holiday today I would say everyone will be keeping their eye out on the London open today for downward pressure on Euro.

Get the full story here:

Meanwhile here are levels to look out for on the  open. I would say everything else will be relatively quiet with the summer doldrums settling in and rangebound for most.

EUR/USD

	S2	S1	R1	R2
	1.2374	1.2406	1.2546	1.2578

More of Spain Downgraded- Were we suprised?

http://www.bloomberg.com/news/2012-06-08/fitch-downgrades-234-spanish-asset-backed-securitizations-1-.html


Next week RCT FX is starting an all new technical analysis section which will give levels, Fibonacci Retracements, Support Resistance and More Market Analysis! You can also check us out on Facebook at RCTFX !

Have a Great Weekend!  See you in Asia on Sunday Evening

EVERYBODY THOUGHT IT WAS GOING TO BE OK...

Check it out.. From Reuters


http://www.reuters.com/article/2012/06/07/us-greece-assault-idUSBRE8560HJ20120607

TOP 10 RULES OF TRADING

DON'T TRADE FX!  Well, I'm only joking.  You can get fast returns if you want to take Huge Risks But always remember the top 10 rules of trading:


1) NEVER LET A WINNER TURN INTO A LOSER
2) DON'T BE AN EMOTIONAL TRADER
3) NEVER RISK MORE THAN 2% PER TRADE
4) ENTER ON FUNDAMENTALS, EXIT ON TECHNICALS
5) STRONG CURRENCY AGAINST WEAK CURRENCY
6) BEING RIGHT TOO EARLY MEANS YOU'RE WRONG
7) NEVER ADD TO A LOSER
8) DON'T BUCK THE TREND
9)  USE FIBONACCI
10) NO EXCUSES EVER!  EVER!

WGZQTAJRXPNY

ECB DOESN'T CUT STAYS AT 1 %

- UNCHANGED AT FIRST. FALLING NOW

EUR/USD sits at 1.2460 almost a 100 pips off.

Anybody sitting on an expert advisor in EUR/USD would be wise to get out for a little while...



A MATHEMATICAL APPROACH TO THE FOREX MARKET--- FOREX ENVY TRY NOW!

G-7 EURO TALKS

So what does everyone think?  Can the G-7 pull a rabbit out of their hat and put some pressure on the ECB ?  Maybe, Maybe Not.  Elections are coming up soon in Greece, with a split on policy bouncing around all the major news sources.  Only action will tell, no speculation here.  Watch your long positions everyone because it looks like things are going south.

A bailout?  Good luck Europe. 

EUR/USD pushing up.... A dead cat in my opinion.

U.S. crude gained 0.9 percent to $84.70 a barrel on Tuesday, rebounding from its lowest in nearly eight months touched the previous session. Brent rose 0.7 percent to $99.55 a barrel on Tuesday.

BANDWAGON FX ? EUR/USD BOUNCE

Everybody is getting on the "long EUR/USD " bandwagon today, even with a stall at 1.2508.  We have some solid resistance up here with this level being the Break Down from May 29th 2012 of which the pair couldn't break 3 times before that!  One on May 24th, and 2 on the 25th when everything was looking EUR/USD heavy.  Keep an eye out for this level, as its definitely a key level here.

SHOULD BE AN INSANE WEEK FOR THE EURO! CALLING ALL DOOMSDAY PREPPERS!!

With the United Kingdom on holiday (Spring Bank Holiday), everybody will have their eyes on EUR/USD and the upcoming ECB meeting on Wednesday.  Everybody (all markets it seems) are in panic mode once again and if your expert advisor or system is looking for volatility we would venture to say we're going to see some great swings and opportunities.  The funny thing is that this happened a few months ago, and everyone was on a frenzy to sell EUR/USD (with myself included) when a major retracement came on the daily.  People got washed out and the banks went short again.  This is typical with sentiment.  If everybody and their brother is short in EUR, then someone has GOT to be long, everyone washes out (I believe the spec community calls this "stop-hunting"  although its just the way of the market...

Comments welcome on this all!

Cheers!

GLGT!!!

Pick Your Poison! Er, Expert Advisor I Mean!

Hi All,

Just seeing whats hot and what's not these days!  Whats your favorite EA.... We all have them.  One that actually MAKES  money for us.....  All comments and suggestions appreciated on this thread!  Honesty is appreciated so if something is horrible..  Just say it!  We're not scared over here.  

Here are a few of mine:

Forex Envy

Hyper

BK 1.0 EA

     I will post the live results very soon!  Looking to get three months of data first!

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Forex Envy trades 9 currencies on 14 charts using the 30 minute time frame. While running all pairs we expect a 35% return per month, or a 20% return while only running our Long Cycle pairs. Forex Envy clumps a group of trades together and treats all trades in each individual chart as one large trade. Once all trades as a group are profitable we close all trades for a net gain. Forex Envy is quite stable in 12 year backtests resulting in a system that is profitable in all market conditions, and more importantly, in LIVE market conditions using REAL money!

NON FARM PAYROLLS!

WASHINGTON (MarketWatch) - The U.S. added just 69,000 jobs in May, the smallest increase in a year, the government reported Friday. Economists surveyed by MarketWatch expected a 165,000 increase. The unemployment rate, meanwhile, rose to 8.2% from 8.1%, mainly because more people entered the labor force even as hiring slowed. The average workweek fell 0.1 hour to 34.4 in May, while average hourly earnings climbed 2 cents to $23.41. Employment gains for April and March were revised lower. The number of new jobs created in April was reduced to 77,000 from an original estimate of 115,000, while March's figure was trimmed to 143,000 from 154,000.

PLEASE GO TO WWW.RCTFX.COM  FOR MORE INFO ON NEWS, ETC