Forex Market SRO 8.13

With the USD Index trading its weakest range for the past week with barely a high registered at 82.87 and a low at 82.04 have stalled again after a corrective move for the past two weeks from July 25 to the current price working at 82.55 mid-range level.

This was primarily due to the low interest of fundamental as well as any political reports that could seriously drive both the Euro and USD in any real direction. Which has kept the Euro at bay at the present levels of 1.2280-1.2300 price range at the start of the Monday trading in Asia and Europe. However, GDP reports in Germany, EU Zone including the Great Britain's Consumer Price Index; followed by the BOE minutes may add some early price action by middle of the week. The succeeding news reports in between Friday's US Michigan Confidence numbers may help turn the tables around from any directional price action brought about at the middle of the Wednesday results.

But the psychology of market price action and its behavior is still relevant to the growing decrease of speculative participants after the market squeeze experienced last Wednesday & Thursday's volatile up and down swings that have caused some USD short-covering on Aug 02 & a counter-trend reaction of market liquidation on Aug 03. Where a lot of speculative positions were caught flat-footed of such reaction.

Although, we have provided a signal in our market view report of the eminent price move dated the July 30-Aug 01, 2012 that has led to a market squeeze which we have experienced from those two consecutive days of counter trend price movement in both directions.

The consolidation of price swings ...pls. continue 

Trade Strategy 7.11 - GBPCHF, GBPJPY, USDJPY

The market sensitivity for the majors and its price action for the remaining couple of days trading have dominated the current marketplace with the strength of the Yen and weakness of the Euro have again lifted the US Dollar. With the USDx rising to a new 83.80 basis point high as of this writing, started with Japan's action of increasing its repurchasing program led the USDJPY lower to the previous 79.22 while spinning the EURUSD down to the 1.2170 low, and the GBPUSD keeping pace at the new 1.5432 low levels have left investors the flight to quality US dollar next best choice in slow global growth.  

Trend following the US Dollar through its Index have been our main leading indicator relative to the price action of the currency majors and the correlated cross rates. While the European Debt crisis has been the fundamental catalyst for a counter-party price market mover that resulted to a Tug of War between the each currency pairs. Please proceed to our website for a complete analysis : http://megatrade101.com/  

Counter-Trade Strategies l & ll Settled & Booked

UPDATE: Counter-trade Strategies l & ll executed from these market view trade analysis have been settled & booked prior to the closing trade as of today the 7.05.12

Target levels for the GBPUSD at 1.5510 first objective; GBPJPY at market current market value 123.90 and GBPCHF at the 1.5045/50 has been achieved. This is a considerable amount from the end-result of the ECB rate cut and a day before the NFP figures release. We'll be watching the market movements from hereunto as the strategies successfully implemented would provide us a trading break for the time being. Please refer to the market view analysis and sequential trades listed below. Or visit our website for a detailed report.