The London Open

[rollingstone]

Wouldn't dare correct you Pimp, you are a Pearl of Wisdom.

(1 closer to not being a Freshman)!

F

[FX Pimp]

P.S Anyone into punting on the 'fair', The Pimp's contacts say that Ricard Will NOT get the Chelsea job, so a nice Lay bet there.


Back to biz just as soon as I snap out of it. Lemme go have a spruce-up.

[FX Pimp]

Rockdrive you are missing nothing, Sir.

If yen is strong and EUR slackens a bit, we're in business.

If this EURJPY manages to break the 60m 20ema I am confident of a 50 pip retracement, but should EURUSD continue and USDJPY retrace then I will come unstuck.

Philosphy is this : IF Euro is weak against Dollar and Dollar weak against Yen then Euro must be weak against Yen, or am I hallucinating.
Will discuss further in the 'forbidden place we do not speak of'

[scorpion]

rollingstone, your nick is scorpion?

[rockdrive]

Originally Posted by scorpion

rollingstone, your nick is scorpion?

Nice one the other Scorpion! Rollingstone is just an alias......but watch out for the sting in tail. Oh ha!

[rockdrive]

Originally Posted by FX Pimp

Rockdrive you are missing nothing, Sir.

If yen is strong and EUR slackens a bit, we're in business.

If this EURJPY manages to break the 60m 20ema I am confident of a 50 pip retracement, but should EURUSD continue and USDJPY retrace then I will come unstuck.

Philosphy is this : IF Euro is weak against Dollar and Dollar weak against Yen then Euro must be weak against Yen, or am I hallucinating.
Will discuss further in the 'forbidden place we do not speak of'

Good morning La Pimp - Thats what I thought in terms of the correlations and relationships. Overlayed on this is your original post in relation to Gold. Will catch you later..

[rollingstone]

Morning all, morning admin

We were Scorpion in another life - a world away from here!
Hope to reassume that identity at some point.

Thanks for the insights this morning La Pimp, will ponder, hope for a few pips for breakfast this morning.

F

[rockdrive]

Just my thoguhts this morning - Gold possible short if 60 20 ema breaks 896, this will then have upside for GBP/CHF and GBP/JPY long and Eur/JPy short. See also a bounce of FTSE as well. Think this makes sense but I am sure of clip around the ear if I am heading too much off the reservation. Think currently GBP/CHF looking at retracement, but the pip sands will clear and show us the way......

[FX Pimp]

Morning Chaps and Chapettes.

There's a Double-Scorpion thing going on at base-camp. No fighting now please. All's fair in love and war.

Onto the upcoming sesh. Not sure about it really.

Gold will possibly drop off a little adding a bit of weight to the Dollar.

EURUSD has travelled 400 pips in a couple of sessions so that will also be needing a pullback, giving some rebound to the USDCHF which should help USDJPY, GBPCHF & GBPJPY to the upside a little.

My quick little 50 on the EURJPY was a little bit fruity and I'm convinved this baby IS tired up here now.
I'll be watching these Yen pairs very closely because I'm not convinced. I think the Yen is a little bit stronger than we're giving it credit for, so tread with caution.

Other than that, that beast we tamed in 'the forbidden place we do not speak of' on Friday afternoon, otherwise known as Crude oil is looking seriously heavy up there at $138. Think I may go get myself some of that if it starts to tumble. Nothing else is really exciting me on this fine, sunshiny day.

Happy hunting.

Bonjour

[rollingstone]

Le Pimp

So is it a battle for USDJPY's affections this morning? EURUSD and EURJPY the ones to watch with USDJPY flirting in the middle?

What if GBPUSD breaks its overnight support of 1.9671 - does that give any weight to a EURUSD retracement or is it more dependent on Gold falling?

All looking a bit cagey this morning me thinks,

Fran