FXIntel

ForexBlog: Asia (China) Continues to Build Reserves, but Forex Diversification Slows

Wed, 16 Sep 2009 22:42:34 -0700

After a brief pause, the world’s Central Banks (or at least those in Asia) have begun to once again accumulate foreign exchange reserves. I’m not one for hyperbole, but the figures are downright eye-popping: “Reserves held by 11 key Asian central banks totaled $2.625 trillion at the end of August, up from $2.569 trillion at the end of July, according to calculations by Dow Jones Newswires.” Most incredible is that this total doesn’t even include China. whose reserves could exceed $2.3 Trillion by now.

Read full blog post here.

ForexMagnates: Back to Reality

Wed, 16 Sep 2009 21:16:44 -0700

14 September, 2009 by Stephen Leahy

Boston Sept 14 09:09 EST

I have been away for two weeks and feel refreshed. There is something to be said about disconnecting your technology and information leashes and just getting away for a while.

It is easy for me to write that, though, because the medium-term positioning that we have written about since early July has come true. Our two core positions (long EUR/USD and long Gold) have acted as we expected. So the question is, What Is Next?

We will re-iterate that looking at any trade through one set of parameters or trade entry signals is a disaster waiting to happen. We always work to confirm multiple analyses before trading. But lets get started with some technical analysis:

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ForexMagnates: We Sell Gold

Wed, 16 Sep 2009 21:12:04 -0700

ForexMagnates: We noted on Monday that there were two price levels that would be attracting attention in Gold. On the topside it was the $1020 -$1030 level…..and on the downside it was the $979 level. See our post from Sept 14 at www.backbayfx.com/blog.php. Well two days or rapidly accelerating price action took us up a briefly through the $1020 level. We will take our chances us here and put on a short position. We are a bit late with this posting as we sold Gold this morning at $1018 (current bid at $1015.70), but we would now use a Sell Limit at the same level ($1018) as we expect a lot of intraday volatility through this morning. Our Stop Loss level is up at $1027, and our Take Profit level is $993. We think this trade will take a few days to shake out. As a confirm, we are looking to see the price level in Gold this afternoon at the CME gold-mini closing time of 17:15 EST. Below $1020 will give us a better confirm that the stops have been run on the top and that Gold may drift lower in coming days. We do not think it will be a sharp sell-off.

Read full blog post here.

Dollar May Extend Decline to Below 70 Yen on Ichimoku

Fri, 27 Aug 2010 10:41:38 -0700

Euro's Long-Term Decline Versus the Dollar May Pause: Technical Analysis

Tue, 17 Aug 2010 00:21:26 -0700

Citigroup Says Dollar to Fall After Key Level Breach

Wed, 04 Aug 2010 10:19:27 -0700

Euro May Advance to $1.35, Commerzbank Says: Technical Analysis

Tue, 20 Jul 2010 19:55:56 -0700