Friday, January 15, 2010

The Advisor Weblog

The Advisor Weblog

Best pair to trade now:USD/CHF

Posted: 15 Jan 2010 07:04 AM PST

This is the way to say NO to the proposal

Posted: 15 Jan 2010 06:51 AM PST

If you disagree with the CFTC proposal, Fxstreet.com CEO, Francesc Rivarola, has posted the right wat to complain. Follow this link, and you will found lot more info there!

http://blogs.fxstreet.com/francesc/2010/01/15/looby-against-cftc/

Majors’ perspective for the US session

Posted: 15 Jan 2010 06:31 AM PST

Eur/Usd technical view

Posted: 15 Jan 2010 04:56 AM PST

Eur/Usd finally break the range to the downside breaking under 1.4440 and falling fast to 1.4360 lows. 4 hours charts remain bearish with no sings of changing direction. Pair has quite a resistance zone barely under today’s low around 1.4350, so break under that level will take as further down probably an approach to 1.4310 ahead of 1.4260 area. Resistances today lie at 1.4400, 1.4440 and 1.4470 area.

 

Market review

Posted: 15 Jan 2010 04:36 AM PST

I can’t even say good morning! today.. really I’m shocked with the new rules; anyway let’s move on with forex, I will keep the blog updated with this issue. Anyway! Dollar is up across the board, helped by risk aversion mixed in fact: slightly positive against pound and commodity currencies, stronger against Euro and Swiss, falling against yen that always get more favored during risk aversion movements.

Stocks are down, gold also, oil slightly negative still near $ 80 a barrel. I will hurry up and place levels to watch in a new post ok?  Be right back!

World is crazy: no more forex in the US?

Posted: 15 Jan 2010 03:35 AM PST

Since NFA and CFTC decided to regulate forex (as “we” were responsible of financial bubbles, like last mortgage one right?) people has been jaw-bowing about favoring or dooming those decisions. But in general, I was thinking, “well, at least there will be less scammers around”. (Yes, I’m still a bit naif, you know?). Till now, I was thinking that rules were a bit exaggerated, but well ok, I can live with them.

Now? The CFTC has come out with a nearly 200 page rule proposal with all sorts of goodies in it, some of them good, some of them bad for the industry. Problem is the big headline rule is a leverage restriction across the board to 10 to 1 leverage. This is a rule proposal not law yet, but come on! is the end of forex industry in the States! 

To make it clear, a 10/1 leverage, means you will now need $ 10.000 to buy 100.000 ( a standard lot) when with 100/1, we needed just $ 1000 to buy the same standard lot. They are killing retail.

Good intentions, awfully realized. Can they keep on ruling what people can do with their own money? What do you think? I want your opinions come on! 

 

 
Posted by at 5:29 PM

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