Forex Insight Trade of Day July 31. Gbp/Usd

Today's Gbp/Usd trade was taken because a number of reasons, technically we had our 5 sma crossover our 8 ema signaling a possible reversal in the trend. We also had gbp/usd come down and struggle to break prior lows. Our L1 line also began to turn upward and confirmed our bias higher. Fundamentally, we had market participants optimistic on that the fact that the Fed may take further action to help stimulate the US economy, so this help carry more riskier currencies higher. A total of 52 pips was gained on this nice Trade of the day. Trader on avg today made off with avg 65 pips iin today morning session.

This snap shot is from one of our lead traders Michael Knight in the Forex Insight community of traders.

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Japan Core CPI -0.2% On Year In June

Japan Core CPI -0.2% On Year In June

Overall CPI also came in at -0.2 percent, similarly missing forecasts for a flat reading after collecting 0.2 percent in the previous month.

Among the individual components, prices for furniture were down 3.4 percent on year, followed by recreation (-1.5 percent), medical care (-1.2 percent) and transportation (-0.3 percent). Fuel costs were up an annual 3.5 percent, while education costs were up 0.4 percent and food prices added 0.1 percent.

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FX Insight views on the Eur/Jpy

FOREX INSIGHT OUTLOOK on EUR/JPY

 What we are expecting in this pair is a move to test the trend on this Daily chart from low of Jan 16 2012 to June 1 2012. Trade leaders are looking for a some great scalp opportunities in this area of 95.15. The over plan is to catch the Eur/Jpy as we forecast the Eur/Jpy bounce higher to 96.40. What we are looking at is a decent bounce on Eur/Jpy toward higher levels as market rumors on the euro will have the currency move on the dollar and the yen. Also even still if the eur/jpy is to follow the eur/usd to the abyss (1.1660) as Spain troubles plus 10yr yields on Italy we still need to see one more bounce to (96.40-60) before a another strong fall such as example from April to June of this year.

In conclusion we will not be taking any entries on eur/jpy until she does reach the trend line market. In the event she breaks away here to lower levels we will just work the retracement after the fall. Play is safe as always in the Forex Insight Group.
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Euro Headed to Parity with US Dollar - FX insight shares

Notice in this video how Euro headed to parity was for seen back in April and May.




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Silver Canary in the Forex Mine

As Forex Traders, we are always looking for exceptional opportunities to profit on with which to constantly grow our accounts and asset column of our balance sheets. If you've attended our online trade room, you've surely heard various discussions regarding some of the most hotly traded commodities and on good grounds. For instance, Silver's latest COT(Commitment of Traders) CFTC release, dated June 26, 2012, confirms silver's speculative positions at some of the lowest levels not seen since 2003. If you've been watching these markets for the past number of years, you'll be familiar with who had what speculative positions and why they've closed them rather recently. Silver is one of the most heavily traded commodities and is it just a simple coincidence that Bear Stearns went belly up the exact same day Silver hit a multi decade high back in March 2008? I don't think so.

  Please take a look at the attached 10 year chart of Silver and identify which trend lines start to converge around election time later this year. Think about Silver in 2003, where was its price action at? Now, what repercussions will the LIE-bor-gate scandal have on credit markets? What does JP Morgan's $9 Billion Loss mean for regulators? Will the FDIC quasi-re-monetize Gold as a 0% Risk weighted asset under some new collateral rules? Will the Fed be forced to do QE3 in the near future once Europe's Bailout High wears off? Will Germany demand Gold as collateral for its participation in the Euro Redemption Fund? I'm not sure what may happen in any of these situations, but I do know one thing. My Forex account will grow then so will my physical silver count. I'm looking for continued Risk/Euro off in the market with large retracements up until we have further Central Bank Intervention. Fun times my friends.. Fun times..

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FX Insight China’s manufacturing expanded at the weakest pace in seven months

The Purchasing Managers’ Index fell to 50.2 in June from 50.4 in May, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday. South Korea’s Ministry of Knowledge Economy lowered its projection for overseas sales to an increase of 3.5 percent from 6.7 percent, citing a slowdown in major economies. -

 Manufacturing data from China, the world’s biggest exporter, signal the government may need to add stimulus to arrest an economic slowdown that probably extended into a sixth quarter. The downturn is rippling through Asian nations, with South Korea’s sales to China, its biggest market, stalling in the first 20 days of June. -

 “It’s clear the slowdown of export growth as a result of weakness in Europe and the U.S. continues to weigh on the Chinese economy,” said Lu Ting, head of greater China economics at Bank of America Corp. in Hong Kong. The weaker PMI reading “will likely push policy makers to introduce incremental measures such as reserve-ratio cuts and easing lending restrictions to stabilize growth. . LINK TO Bloomberg article

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