GBP/USD ------ HEADING TOWARD 1.4500 ??

My recent posting last Saturday on the GBP's  capability to sustain 1.5000 level has the right answer NOW with a firm "NO."  If  you have followed my exact recommendation  and follow strictly as per the proposed set up /Stategy with SL=60 pips.( Sell on Recovery near 1.5060 --1.5090) from this week's market open,,, Then you are ready to collect at least 130 pips till now at 1.4915.

http://millionaireclub88.blogspot.com/2010/06/outlook-on-gbpusd-can-it-sustain-15000.html

It sounds like I am using Crystal Ball To do the prediction, but the answer is strictly "NO". The Principles of Elliot waves and Advanced Structural Forecast and Other Tools are utilized  for this Strategy.  I  would always refrain from using Technical Bombastic words to scare you off, but instead using a simple and strict forward forex language even for newbies in Forex trading.

Back to GBP/USD, Fundamentally, nothing much to offer to stimulate Investor's  Supports,,Technically, The near term for GBP/USD is Bearish,
Breaking below  1.4853( 38.2 % Fibo Retr Level) may send this currency pair toward the next support  at 1.4786 and beyond.


The H4 Chart Below:-

Please note my MIRROR site as :-https://millionaireclub88.wordpress.com/


Happy Trading

NZD---- A new DARLING for Traders ??

NZD/USD continues its Downward journey since this week's market opening, curving  out a BEAUTIFUL Triple Tops an Both H1  and H4 Charts.  A Drop of  almost 340 pips(from 0.7140 to 0.6812 till now),please refer the below Postings from this blog:--

http://millionaireclub88.blogspot.com/2010/06/nzdusd-trade-call-of-week-triple-tops.html

http://millionaireclub88.blogspot.com/2010/06/nzdusd-review-on-its-beautiful-triple.html

In general, NZ government is expected to enforce more convincing  Fiscal policies  to strengthen the economic health of the country. Its effect  from her recent RATE revision has diminished. 

Structurally, the NZD shall be further weakened from now on , unless Investors are happy to see more actions from her Governing Master.

Breaking the important next Support at 0.6770 Convincingly   may send this currency pair NZD/USD knocking the door at 0.6570 !


The H4 Chart below:--

Please note my Mirror site as:https://millionaireclub88.wordpress.com/


Happy trading

CHF--- THE SUPER STAR OF FOREX ??

You should have gained a good 180 pips since this week's market's opening from 1.0930 till now at 1.0755 on USD/CHF, please read this posting from the link:--
http://millionaireclub88.blogspot.com/2010/06/usdchf-will-it-dip-below-09900-if-no.html

The continuation on its strengthening process against both Euro and Dollar is expected.. Swiss Fundamentals are superior,.It continues driving the Safe Haven Demand., The Dollars has retraced about 50% (around 1.0820 )of its gains  since Last   Nov Low.

It has drifted below 1.0800 last night, and so the next immediate TARGET shall be 1.0600.

Swiss Government has done a good job to have no deficit in her Fiscal Balance,and even downgrade her deflation rating recently,  and  please do note that Investors will reward any country trying to live very much below their means.




Please refer to the updated H4 Chart below:

Please note my Mirror Site as :- https://millionaireclub88.wordpress.com/


Happy Trading

Non-Lag MACD and AUTO Fibonacci Pivots INDICATORS Free For Download

As per your strong request, The following  TWO  Indicators are offered here for Download:-

1) Non- Lagging MACD indicator.

This is a highly refined /improved MACD with no Lagging as compared to Normal Default MACD indicator.
You may load this Non Lag MACD Indicator next  to your Normal MACD  and then note the differences and use it for your daily trading. Please note that  this indicator is only meant  for MT 4 platform. Link:--

http://docs.google.com/leaf?id=0B74IMi--bRpKZWMxMzY2YzEtZmE0MC00MTFjLTg5MmQtNjU3ZTNiY2I4OTRi&hl=
en&authkey=CNzuvM0G


2) Auto Fibonacci Pivots Generator Indicator
This indicator is applicable to all time frames,.it automatically establish real time Pivots and Fibo level  directly on your PA ( Price Action) Charts,, Link :--

http://docs.google.com/leaf?id=0B74IMi--bRpKNjczYjM4NWMtZGM1Ny00MDlkLTgzYWYtNzJlNDliNDg3YjU4&hl=
en&authkey=CM-6ktAG



Procedures for installation on MT4


a) Download the above two files from the above links.
    (Note): Log out from your MT4 before proceed to step (b) below please...
b) Go to "C",, Open your Program Files,, Click the MetaTrader Program, Then Open "expert", then go to "indicator", then insert /paste the above two copied  files (note: the two files shall be located in the "indicator" location.
c) Open your MT 4, Go to "insert" , indicators, custom, then select the two indicators you  just downloaded.
d) the default setting on the MACD is standard (12,24,9)
e) then you are ready for trading




Important Notice
PLEASE DO NOTE THAT YOU ARE EXPECTED TO FEEDBACK YOUR COMMENTS OR PROPOSALS AFTER USE (ABOVE iNDICATORS) , EITHER VIA MY E-MAIL OR POST HERE DIRECTLY FROM THIS POSTING. 
YOUR NON FEEDBACK  MAY LEAD TO HALTING OF UPCOMING INDICATORS SHARING... .... AND I HOPE YOU ALL ENJOY READING MY BLOG,,,,,,,


Please note my MIRROR site as:  https://millionaireclub88.wordpress.com/


HAPPY TRADING

EURO/USD-- WHICH DIRECTION WILL IT BE HEADING TO-- AHEAD OF NFP RELEASE ??

This upcoming movement of this master forex pair EURO/USD is very interesting indeed.

Fundamentally, Euros remains status quo(no change)  since the recent low at 1.1866 , The continuing rising costs for their new Bonds issue  indicate  fading confidence from investors, and More bad news from France Financials and Spain may be imminent.

US upcoming NFP numbers  release on this Friday may not be very encouraging as predicted by various economists.,But overall sentiments on US mild recovery is positive and improving. So USD  is positively biased.

On Technicals, referring to H4, Decisively Breaking the level  1.2245 ( Bottom Ichimoku Cloud Resistance) And  level 1.2209 (The Recent Low).,then shall expose the 1.2111  (61.8% Fibo Retr .from 1.1876 to 1.2490)


Strategy A


SELL NEAR 1.2200 


First Target:1.2111


Second Target : 1.2050




Strategy B


BUY NEAR 1.2230  on Pull back, (100.00 Fibo Retr on H1 CHART)


First Target: 1.2400


SO you have two strategies given by the time of this posting, the correct strategy used is really depending on the above Price Actions,(PA).


H4 Chart below  EURO/USD:- 

HAPPY TRADING

USD/CHF, ---- WILL IT DIP Below 0.9900 If NO Intervention from SNB ??

Swiss Franc continue its appreciation and the usual Intervention from SNB is not imminent.

Fundamentally, Swiss Franc is still undervalued and its  appreciation course vs various major currencies shall be unstoppable.Structurally, the 0.9900 level is reachable near term in view of the relative recent  weakness on both EURO and  USD.

Referring to the H4 chart below,  Breaking its recent low at 1.0815 shall expose 1.0664.
Technicals on H4 indicate Bearishness and Negatively biased  on  both H4/ H1 charts.


From the weekly chart, we spot that 1.0605 is the  38.2% Fibo Retr. level.,,below this level will be the next very critical support at 0.9880.
Technicals on Weekly Chart shows Bearishness Near term.


Strategy for trading 


SELL Down ON  Mild Recovery, near 1.0930 (its intra-day minor resistance)


First Target: 1.0664


Second Target:- Near 1.000 (Please do not over-trade !)


Warning: In view of the possible Intervention from Swiss National Bank to stop its currency appreciation, you must put in a tighter SL ( Stop Loss) and activate the TS( Trailing Stops), and remember do not over trade this cute currency pair.




DO REMEMBER, EVEN A MASTER OR "GURUS"  IN  FOREX TRADING CAN BE KILLED BY OUR FIERY SNB (SWISS NATIONAL BANK),, BUT SNB CAN ALSO BE TURNED INTO SANTA CLAUS ,, GIVING OUT UNLIMITED FREE MONIES.....!!!!


H4 Chart

Weekly Chart

Happy Trading

NZD/USD --Review on its Beautiful Triple Tops Formation

This is the beginning of the second Trading day after my last posting on this Topic last Sunday.

This Triple Tops has been beautifully formed in front of our eyes right now as predicted.

The Price Action has convincingly broken the Top Ichimoku Cloud resistance and is now heading very rapidly toward 0.7034 (38.2% Fibo Retr),, Breaking it may expose next strong resistance at 0.6954 (0.00 Fibo. Retr) or near the Ichimoku Cloud Bottom around  0.6970.

I have a very  High Open   Sell Short Positions on this NZD/USD pair since this week's  market open.

You should not miss out this golden Opportunity too....

H4 Chart

NZD/USD --Trade Call Of the Week-TRIPLE TOPS OPPORTUNITY ??

The Nzd/Usd has been moving within the  line 0.7014(0.786 Fibo Retr)  and 0.7138(0.618 Fibo Retr) last week.,please refer to chart A,
 An Interesting  Triple Tops formation is in the Making, , meaning it may roll down after hitting another Top near 0.7138-0.7150 level. 

A triple Tops is a golden opportunity for traders to SELL Down .

An H4 chart with Ichimoku Indicators as shown on Chart B

Trade Strategy

Sell Down  near 0.7140--0.7160

First Target: 0.6933 (Please refer to chart)

Second Target: 0.6800 (Please refer to chart)

CHART B(H4)

CHART A

HAPPY TRADING

GOLD ---CAN IT SOAR ABOVE 1350 AND BEYOND ??

Answer is Yes, The probability for Gold to  exceed 1350 in the next 1-2 weeks' trading days is very high indeed.

Fundamentals  on GOLD

1) The uprising on the cost of raising Funds via Bond issue from European countries to ease their escalating Financial woes is worrying 

2) More bad news from France and Spain may be arising upfront to damp the markets's sentiments further.

2) Japan is not very convincing on sustainable recovery, and deflation problems plagues her consistently

3) China is again thinking of implementing further measures to have more soft-landing on her economy, and cramping down the risk of Property bubbles and rising inflation 

4) The last US's NFP nos is very disappointing , and the expected nos in upcoming NFP next week  may not be very positive and stimulating.

5) There is a general downward momentum on the FTSE/DAX/S&P500/DJ , AS  also can be reflected in the MSCSI (World's Stock index) and US INDEX.

6) China has again shows her unwillingness to let Yuan to float freely, diminishing  the hope for rapid Yuan Appreciation, The news on last Friday from her central bank TO FURTHER RELAX her Yuan is still pending on outcome.

7) Latest nos from US on Housing data  IS DAMPING the hope for faster recovery

8) there is No Solid resolutions or Consensus derived from the Present on-going G20 meeting.

ALL the above factors are driving The Investors to a Cross Road without Direction,, as such Fear and Sentiments will force them to re-examine the locations for Safe Haven to protect their wealth/Investments.

And Gold Investment may be one of the best mean to achieve their safe haven's goal.

Technicals on Gold

Gold registered 1264.4 being its highest and closed at 1254.15 last week.

On Daily Chart, Gold closed near the upper Bollinger Bands and above the Tenkan-sen line, 

The closing candles on last Friday close on both H1 and H4 chart indicates some degree of Bull Exhaustion and it  may lead to a mild pull back soon prior to its Northern Bullish Journey., However, on longer time frames, Gold is BULLISH.

The Present Indicators may not be very reliable  for Gold beyond the recent high 1264.40 , We need to observe  its movement on next market open so as to update all technical indicators to have  a better / meaningful direction/ prediction on Gold's next Big Move.

Daily Chart for Gold below:-

H4 Chart for Gold

Happy Trading

Analysis on EURO/USD-- COMPLICATED FOR TRADING ?? Still Bearish LONGER TERM

EURO/USD continued  to trade range bound between 1.2250-- 1.2390, offering good  SCALPING  Opportunities for short term Scalpers / Traders . And so far it is still traded  below the 1.2466 (the recent High),

Any price action hitting below 1.2209(the recent low) will resume the downward trend moving toward 1.1875. The breaking above 1.2466 may resume upward target at 1.2569 (38.2% Fibo Retr  from 1.3691 to 1.1875) , Please refer to Chart A (H4) and Chart B (Daily)below.

The recent reversal/ Recovery from 1.1875 shall be completed at maximum level around 1.2466, and  from this level onward we may expect another plunging even very far below the 1.1875 (recent low level).

From Chart B (Daily). you may spot the divergence.

Chart C (H4) showed the range bound movement of the price action. The candle on Friday 's close is  at the top  cloud line of Ichimoku chart, indicating a possible bearish move, but  we require further Price actions on next Market open to further confirm its direction.

In general, I am still very Bearish on EURO/USD on longer Term, Fundamentally the Euros has not changed much since the Recent Plunge at 1.1875,, may have more bad news from France and Spain.  With the expected mild recovery from US and its relative better growth rate as reported by IMF recently,, the USD should stand up better against Euros....

Strategy for trading EURO/USD

Range-Bound TRADING MAY CONTINUE , so determine the price range, enter and exit near the upper/lower limits . If you are not experienced traders,, Stay aside.....Only good trades meant for Experienced Scalpers.

I will post later on the subject " Scalping"

Please do wait for (be patient) until the pair has broken the critical levels as listed above,, then you can continue to trade happily as the pair will move (either ways) freely thereafter...




Chart A(H4)

Chart B(DAILY)

CHART C (H4)

Happy Trading

Outlook on GBP/USD - can it sustain 1.5000 ?

GBP/USD peaked at  1.5076, and closed at 1.5046 last week.

On Both the H1 Charts, the Bearish Candle is on the upper Bollinger Bands, we need next candle to confirm  its bearishness, However, the upward price action is actually  close to exhaustion, that can also be found on the H4 Chart., Technicals on this currency pair  is quite Neutral but toward Positively biased, (Mixed signals from different longer time frames)

As such, the possibility of further rise toward the 1.5380 (next resistance) cannot be totally ruled out unless it can convincingly break the level at 1.5060 (it did breach this level but retraced thereafter), which is the 61.8% Fibo Retr between 1.5521 to 1.4230.


My  longer term view on this pair remains BEARISH, from below chart A(H4), the 61.8% Fibo Retr level is 1.5060, but you may observe the  bearish divergence.


From Chart B (H4) , you can see the exhaustion of the upward momentum as the bearish candle at the top Bollinger Band., you may also observe the similar phenomenon on the H4 chart.


Proposed Trade Set up.


SELL ON RECOVERY near 1.5060-1.5090 (Be patient)


Stop loss (60 pips)


First Target: 1.4938 (38.2% Fibo Retr) see chart B (H1)


Second Target:1.4854 (0.00 Fibo Retr)




Chart A(H4)

Chart B (H1)

Happy trading 

AUD/USD --TECHNICAL REVIEW AND TRADE SET UP

On last Friday, the AUD/USD was lifted to 0.8757 highest and closed at 0.8722. On the H1 chart, a bearish Engulfing candle was formed, to be confirmed by another one or two down (bearish) candles on Monday next Market opening  to further verify that  the Bear is in action.

The H1 Ichimoku chart below also show that the price action is touching the top of Ichi cloud ,plunging through the cloud may see this currency pair to meet the 0.8703 LEVEL.(61.8% Fibo Retr) , BREAKING this level may expose 0.8692 which is the  bottom of  Ichimoku cloud as next possible support, and then further to the next possible support level at 0.8660 (being the 38.2% Fibo Retr.).

Basing on Technicals, longer time frames show Bearish on  AUD/USD, we should further monitor this currency on Monday's open before you set up your trade.

Note:0.00 Fibo Retr level is 0.8595, and 100.00 Fibo Retr is 0.8770


Proposed Trade set up:

SELL  NEAR 0.8720--0.8730 on recovery ( TO OBSERVE HOW THE PRICE MOVES  AND TO CONFIRM WITH ALL YOUR FAVORITE INDICATORS BEFORE EXECUTE YOUR TRADES after market opening))


STOP LOSS:  0.8760 (50 pips)


FIRST TARGET: 0.8635 (see chart ,the next possible support)


SECOND TARGET : 0.8595(the next recent low)


Happy Trading




The M5 chart below to show the near term bear in action on last Friday

GBP/USD --another trade of the day

GBP/USD continue to decline from yesterday  to 1.4924, plunging very rapidly toward the first immediate support 1.4912., exposes this level will see 1.4889 which is the second support .
Technicals indicate Near terms (H1,H4,D1)is Bearish, and the current descent  shall accelerate to the South.
The price action is immersed inside the thick Ichi cloud

Do use MI,M5,M15,M30 to assist you to catch the recovery for SELL DOWN the pair.

Happy trading

Gold-- will it hit 1500 soon

Gold continues to move in a Rising Trend Channel . From Chart B, We do spot a Head and shoulder Formation with a deep U connected with a Long handle toward the end, a pattern indicating its Bullish Trend.

The Gold has just touched the 1250 level which is almost lying in the mid of the Rising Trend channel.

Technicals indicate BULLISH near/mid term, , with immediate resistance at 1265, above this level may expose  1375 (50% between  1044 low to 1265 high).) , and beyond.

Rising Trend Channel

Head and Shoulder formation

Daily chart

Happy trading

AUD/USD --THE BEST TRADE OF THE DAY ---SELL DOWN

If you follow my blog on last Sunday posting, or this link:-
http://millionaireclub88.blogspot.com/2010/06/anaalysis-on-audusd-and-its-trade-setup.html

You do see right now that the price action has broken the 0.8728(50%  Retr) and heading south toward the 0.8582 (38.2% Fibo Retr) very rapidly, which is our immediate target. Below this support will expose 0.8066.
This is a fantastic opportunity for traders.

Near term Technicals is very Bearish.

Guppy with trend lines

Happy trading

EURO/USD HAS HALTED ITS MILD CORRECTION AND NOW RESUMING ITS BEARISH MOMENTUM ??

The currency pair EURO/USD has violated the very important Support  level 1.2300, and it breaks the 50 EMA too on the H4, ,and  it also breaks Both 20/14 EMA on the Daily Chart..

In my last posting on EURO/USD set up, I did recommend to Buy(Long) on Pull Back near 1.2300-1.2320 with confirmation from all other Technical Indicators before Entering your Trade or from here "--

http://millionaireclub88.blogspot.com/2010/06/outlook-on-eurousd-and-its-trade-set-up.html

If NOW the price action continues its plunge and breaks the next  support  near 1.2240, Then you may assume that the Currency Pair may have confirmed its Bearish Southern Journey, and it will expose 1.2150 before the next very important psychological level at 1.2000.

So please watch the Price action now, and take immediate opportunity to SELL SHORT the currency pair EURO/USD after breaking the 1.2240 level. Do use all other Technical Indicators to confirm your Entry.

The H4 chart :-

The Daily Chart

Happy Trading

GBP/USD --A POTENTIAL EXCELLENT TRADING OPPORTUNITY ??

The currency pair GBP/USD  has been hovering within a closed channel as shown in the below chart for the past two weeks.

The 38.2% Fibo Retr level is 1.4723 (From low at 1.4234 To recent High at 1.5516), which is also close to its 20D EMA level at 1.4700.(It is also close to its 14 EMA)

The price action is currently traded below the resistance trend line at 1.4760 (Time of this Posting), If the level at 1.4890  which is the Lower support  trend line level cannot be breached, then this currency pair is always vulnerable for the possible Bearish plunge.

Do utilize  the 20D EMA as your good guide with your favorable Indicators for your SELL (short) Trade Entry.
Be patience to wait for the Strong Downward signals (below the 20/14D EMA with confirmation from all your Indicators)


Trading Strategy 

SELL DOWN the Pair Around 1.4680-1.4700

First Target : 1.4500
Second Target: 1.4340

HAPPY TRADING

SCOMI -- a BULLISH BREAKOUT ?? (A STOCK LISTED IN KL BURSA EXCHANGE)

SCOMI closed   at 0.420 on Monday.

It broke its first resistance at 0.415 (ALSO NEAR ITS 50D EMA), with Technicals indicators pointing toward its BULLISH BREAKOUT.
(RSI above 69%,: Stochostic above 61% ,:  MACD positively biased with bullish divergence,:  ADX indicates positive momentum.), with increasing volume support.

Next resistance is at 0.460.
(Note: the recent High at 0.540 serves as a good guide)

It may be a good BUY Entry at 0.420-0.430 when the price action is further supported by higher volume.




You may refer to the following Daily Chart

HAPPY TRADING

OUTLOOK ON EURO/USD---AND ITS TRADE SET- UP

The currency pair EURO/USD is in a Rising Channel formation for the last two weeks  on a H4 chart as listed below. It gives traders an opportunity for perfect Scalping by following the Rising trend channel.

From the H4 chart, 1.2275  is the 38.2%  Fibo.Retr. Level (Recent high 1.2417 to 1.2045 low), and it may serve as a good entry level for Buying (Long) the currency pair after PULL BACK.You may also use the 20 EMA  for another guide for Entry (Near 1.2320)

From the Daily chart, YOU too can see that the price action which is in the Rising Trend line may  move up toward the 1.2550 (The 38.2% Fibo Retr level, From High 1.3660 to Low 1.1876)  IN the next few trading sessions. Technicals demonstrate that the currency pair EURO/USD  is currently  Bullish with bullish divergence

Strategy:

Buy on PULL BACK near 1.2300--1.2320

Target: 1.2550.

DAILY CHART

H4  CHART

H1 CHART WITH GUPPY LINES

HAPPY TRADING

Further Analysis on USD/CHF------ WILL IT DRIFT BELOW 0.99 ??

USD/.CHF  DROPPED 700 PIPS WITHIN 2 WEEKS FROM 1.1729 TO 1.1071 LAST CLOSE.  The expected strengthening of Swiss Franc is partially due to the suspension of Swiss Central Bank (SNB)'S INTERVENTION , as eventually they(SNB) realize that it is beyond their MEANS to continue Defending the appreciation of the Swiss franc.( News indicated that they may have incurred  losses in the region of over 10B Swiss Franc for the last six months of  Intervention !)

Technicals are still showing extreme bearish on this currency pair which shall cross Both  the level at 1.1036 (38.2% Fibo Retr From 0.9916(Low in Nov 2009) To 1.1729(Recent High)  And level 1.0434 (Recent Low) .,Price Action Below 1.0434 shall expose 0.9900 level next.


Daily Chart

H1 with Guppy Trend Lines

Happy Trading

Analysis on AUD/USD and its Trade-Setup for incoming week

AUD/USD PEAKED AT 0.8724, which is also the 50% Fibo Retracement level as shown in the attached Chart. The Double bottom has beautifully formed but seemed to have difficulty to complete the deeds ( to push its level above the expected 0.9000 to the North) .

The uplifting momentum turned weaker toward end of the week with the 4H MACD   below its signal line.From Chart A(H4), the support trend line was being violated frequently, giving alerts on possible weakness  and unconvincing Positive momentum.

The daily chart indicates some remaining mild bullish strength, with MACD. RSI, STOCHASTIC ALL showing positively biased direction.However, the near terms may indicate additional  modest GAINS .The AUD/USD may be further pushed toward the 0.8800-0.8900 level ,before it may reverse its course toward the South Bearish zone again from there.

PLEASE NOTE THAT THE 20 EMA IS 0.8510 approx.

The followings may affect the AUD/USD in week ahead,:--

1.) The price of Gold has registered a high at 1261on Last Friday, Technically, the  upward momentum for   GOLD may be diminishing, and it may drift downward next.week..

2.) The relative recovery  and stabilization on the Euro with a Firm USD in week ahead, 

3) Uncertainty on China's GDP Nos and Her liquidity tightening/Economy Hard landing  may affect her import of Minerals from Australia.

4)Higher Australia's First quarter inflation rate of 0.9% as compared to the expected 0.5%, and the chance of further rate increase is rather slim in Second quarter.

Strategy:

SELL THE AUD/USD  WHEN THE PAIR HAS PEAKED NEAR .08730-0.8800 ( See Chart B , 0.8728 is ITS 50% RETRACEMENT, From bottom  at 0.8066 To top at 0.9389),,as near term the pair may indicate modest GAINS.

TARGET: FIRST TARGET 0.8582 (ITS 38.2% RETRACEMENT)

                 SECOND TARGET: OPEN




Chart A H4

Daily Chart

HI  With Guppy Trend Lines

Happy Trading

USD/CHF ---Deeper into the Expected Southern Zone----Extreme Bearish !

If you  have read my below posting  on Sunday,: --
http://millionaireclub88.blogspot.com/2010/06/usdchf-another-golden-opportunity.html

You should have netted more than 150 pips easily BY NOW.., as it is  traded at 1.1280(GMT 06:50 WED,;,, US PACIFIC 23:50 Tues,;  Singapore/KL/BEIJING 14:50 WED).

Shortly the SNB will announce its decision on RATE revision which MAY be maintained as predicted by Analyst.

Traders who are having open position right now must be cautious... As the SNB may decide to INTERVENE on the Forex Market  TO COOL DOWN THE RAPID appreciation of the SWISS FRANC, ..

When the EXPECTED INTERVENTIONS do happen, it may cause a long SPIKE OF more than 200 pips within 10 minutes(Heading North !), .. So be prepared and do keep your STOP LOSS TIGHT NOW AND ACTIVATE THE TRAILING STOPS..and also reducing your Leverage now........


The  present active Chart with GUPPY TRENDLINES is as below:-

HAPPY TRADING

OUTLOOK ON USD/MYR ---Bearish Near/Mid TERMS

The USD/MYR continues its Southern Journey , Technicals signal Bearishness in near term.

The speculated Good numbers in the Second Quarter Malaysia's GDP, and possible rate REVISION by ADDITIONAL 25 basis point are fueling  the rapid Descent of the Currency pair USD/MYR

The immediate support is 3.2432, breaking it may expose the recent Low at 3.1160

The rapid strengthening of MYR  shall propel the Equity market in Bursa KL STOCK EXCHANGE


THE FKCI may be lifted well beyond its 14 D EMA soon, the immediate target shall be 1330.

Happy Trading

Technical Review on EURO/USD, ----ITS RESILIENCE AT 1.2160 RETESTED

Exactly 3 Hrs ago, GMT 07:00 Tue;;,US PACIFIC 00:01 ,Tue;;, KL/ Singapore 15:00 Tue;;The pair was traded at 1.2165, thereafter it was strongly supported, and reversed ,, and now after 3 hrs, it is  traded at 1.2250., It not only shows its resilience, but the element of ECB intervention cannot be ruled out in view of yesterday's Further downgrading of Greece Credit rating.

From the chart below, the pair has since broken the 1.2160 resistance lines numerous time for the past two /three trading days, and I would now propose that traders stand aside and watch for a firm direction , Even though the long term views on EURO/USD is still Bearish.

The short term upswing momentum may lift the pair toward the 1.2585, as such, for longer term Traders, I would  PROPOSE not to execute any trade on this pair now. For shorter term Traders, you may use your favorite indicators to assist you to catch the short jumping pips.

The M5 chart on EURO/USD with Guppy Trendlines below indicates the near term Bullishness , (May be some form of Intervention from ECB is imminent !!)

HAPPY TRADING

GenM-- A potential GEM Stock listed in KL BURSA Stock Exchange ??

What is RASINO----a combination of racetrack  and Casino  !
This is the latest news that GENM is being engaged in.
Well, Analysts estimate that its success bidding  may bring in approx. 5 % of GenM's PBT
Please go to this link on GENM and RASINO ..:

http://docs.google.com/fileview?id=0B74IMi--bRpKOWZiYmVmOWMtMTM1Ni00YmRlLWFmZmItMzNlNjQ2YzkzMDQz&hl=en

The latest release of its quarterly financials on May,27, indicating a drop of 1% loss ,y-y ;; and 24% reduction q-q, . And the recent drop in profits are contributed by the losses incurred in various Overseas investments.

Looking ahead, GenM is now looking aggressively investing in US 's various gambling entities, including the  Bellagio  ,Tracinda,Foxwoods,Aqueduct,MGM Mirage, .......

With almost RM 5.6 B cash in hand, They may get many cheap purchases right now in view of the depressed Stock markets in US.

With   their combined current Cash reserve of RM 5.5B and  the Liquid assets of  est. RM 1.8B will result in Approx. RM1.260 CASH  per share.Then you can see that with EPS  of Average RM 0.230 (last year average), you are dealing with a stock with PE of 6.4X (BASING ON TODAY STOCK PRICE at RM2.78)


The stock is still being traded below the 50D,100D, and 200 D EMA, if we neglect  its Recent Low due to Global SELL DOWN, its strong support shall lie  at RM2.60--2.65 0.  Technicals are pointing Positively-Biased near terms, with RSI above 50, and positive MACD with Bullish divergence, 

It may be a good Trading BUY now at RM 2,78, basing on its attractive valuation (Analysts value its FAIR Value ranging  from RM 3.15 ---RM4.00 respectively....).

And with the present batch of young and Energetic Management teams,.......,
Who will dare to DREAM that it may even outperform its grand parent --"GENTING" -- not too far away from now??